The Effects of Great Britain's Exit from the European Union

Abstract

The exit of the UK from the European Union established by the referendum of 23.06.2016 willproduce important changes in the further development of the European Union. The impact of theBritish vote was felt immediately on all the financial markets of the world by lowering theEuropean banking stock market transactions and index, as well as depreciating the pound sterling. Depending on the conditions in which the UK will exit, Member States will adopt optimal strategiesto ensure a harmonious evolution based on beneficial treaty for all members of the Union. Experts'views differ on future developments in bilateral relations between the European Union and the UK. The withdrawal of the United Kingdom from the European Union directly influences the economicdevelopment of Romania, which will force our country to take all the necessary measures in thecurrent economic conjuncture in order to anchor in the international trade relations.

Keywords

• referendum
• free movement
• free trade
• customs union
• international trade