to remain a member of the European Union. The UK has been a part of the EU since 1973,

and decided to remain a member-state after a referendum in 1975. So, why does the UK

want to leave the EU?

Well, Prime Minister David Cameron has said that the EU imposes too many restrictions

on British lawmakers. Critics say that the UK will be forced to abandon its Pound currency

and adopt the Euro currency, which has historically been the weaker of the two. Adoption of the

Euro is expected of all EU countries by the year 2020. But many are worried that the Euro

is not only unstable, but able to be influenced by weaker countries like Greece.

The UK is also concerned about European restrictions imposed on their immigration laws. The EU

currently provides the ability for migrants to access employment and benefits. However,

the British Prime Minister has been working to restrict benefits and housing to those

who have been in the country for at least four years. This proposal has been directly

opposed by the European Commission, leading many Britons to question why the EU has so

much say in British welfare.

Some conservative groups feel like Europe is manipulating the British government, and

that policymakers have ‘lost control over trade, human rights and migration’. EU law

is supreme over UK law, meaning that lawmakers in the British House of Commons are technically

beholden to those in the European Parliament in Brussels. Anti-EU activists believe that

European regulations will undermine British interests, which to many are isolationist.

So how would a British exit affect both the EU and the UK? Well, analysts say that it

could join Norway, Iceland and Liechtenstein in direct single market access. This would

be enacted per the existing Agreement on the European Economic Area. Many trade regulations

would remain the same, without imposing the same export and import tariffs as non-EU countries.

However, it wouldn’t help the UK’s issues with free movement of labor, which is still

guaranteed in the EEA Agreement. It would also slow investment in the UK, which would

no longer be seen as an entryway into EU trade. Similarly, the EU would lose some of its clout,

as one of it’s largest economic and political heavyweights goes off on its own.

But all of this is based on who you ask. At the moment, the EU and UK are in talks to

resolve their differences, but if they can’t come to a solution, the scheduled referendum

will likely occur. Overall, the United Kingdom hasn’t made up its mind on the EU yet, and

it’ll take the upcoming referendum to solve the question once and for all.

Greece has also threatened to leave the Eurozone, raising the question of whether being an EU

member is even worth it. Learn more about the EU’s struggles in our video. Thanks

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