Definition of Brexit:
A combination of the words Britain and exit which refers to Britains withdrawal from the European Union. For Europe, the shock of this Brexit is profound since Britain is the only major country to leave the European Union. The people of Britain voted for a Brexit from the European Union in a historic referendum on Thursday June 23, 2016. According to The Economist, the referendum resulted in an overall vote to leave the EU, by 51.9% to 48.1%. However, the vote was split between the constituent countries of the United Kingdom, with England and Wales voting to leave, and Scotland and Northern Ireland voting to remain.
The withdrawal of the United Kingdom from the European Union.
Brexit is an abbreviation for "British exit," referring to the U.K.'s decision in a June 23, 2016 referendum to leave the European Union (EU). The vote's result defied expectations and roiled global markets, causing the British pound to fall to its lowest level against the dollar in 30 years. Former Prime Minister David Cameron, who called the referendum and campaigned for the U.K. to remain in the EU, announced his resignation the following day. Theresa May, who replaced Cameron as leader of the Conservative Party and prime minister, stepped down as party leader voluntarily on June 7, 2019 after facing severe pressure to resign and failing three times to get the deal she negotiated with the EU approved by the House of Commons. The following month, Boris Johnson, a former Mayor of London, foreign minister, and editor of The Spectator newspaper, was elected prime minister.
Johnson, a hardline Brexit supporter, campaigned on a platform to leave the EU by the October deadline "do or die" and said he was prepared to leave the EU without a deal. U.K. and EU negotiators agreed on a new divorce deal on Oct. 17. The main difference from May's deal is that the Irish backstop clause has been replaced with a new arrangement. The revised protocol on Ireland and Northern Ireland is available to read here.
How to use Brexit in a sentence?
- After the Brexit vote, Britains Prime Minister, David Cameron, announced his resignation, global financial markets plummeted and the pound crashed to its lowest level in decades.
- The report warned that Brexit would reduce the EUs potential GDP.
Meaning of Brexit & Brexit Definition