What Is European Union and Brexit ? A must for SSB Aspirants
With the Recent Referendum which took place in UK for the separation from European Union. The People of UK favored for separation from the European Union it was a neck to neck votes as even bookies are not able to predict it .
The final outcome was 52 in favour of separation to 48 percent who were not in favor of it .
Now Lets First Discuss with what Is European Union ?
Why was the EU created?
After the Second World War there was a new development to spawn oneness between Germany and France, which would finally lay the making or the edifice for the European Union four decades later.
When was the EU formed?
The EU can footprint or its origins comes from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), formed in 1951 and 1958 respectively by the Inner Six countries of Belgium, France, West Germany, Italy, Luxembourg and the Netherlands.
French foreign minister Robert Schuman led the formation of the ECSC with the Schuman Declaration in May 1950. The organization was a precursor of many other European Communities and what is now to be known as the European Union.
Since then the one whole group has grown in size because of the addition of the new member countries.
The latest major change to the constitutional basis of the EU, the Treaty of Lisbon, came into force in 2009.
Which All countries Now Belong to European Union ?
How Does The European Union Work ?
The European Union operates a single market which allows free movement of goods, capital, services and people between member states. There are four key institutions which work together to run the EU – the European Commission, the European Parliament, the European Council and the Court of Justice
What Is the Contribution of All The Various Countries ?
The economy of the EU generates a GDP (nominal) of around €14.303 trillion according to the International Monetary Fund.
It has been argued that this makes it the largest economy in the world if treated as the economy of a single country.
The UK’s estimated net contribution in 2015 was £8.5bn – according to Treasury figures. Each country receives money back from the EU to support development and other projects. The UK also gets a rebate, or money back, on its contribution, because much of the budget is spent on agricultural subsidies and the UK does not gain nearly as much as other countries like France. After all repayments were taken into account in 2015, Britain contributed about 12.6% of the entire EU budget. Germany paid the largest share, 21.36% and France was the second-biggest contributor at 15.72%.
How Does the European Union Divide Its Spending ?