Founder of European Union Exits!
The United Kingdom has finally quit European Union (EU) on Friday.
The United Kingdom (UK) has officially left European Union on midnight Friday in Brussels. Now an eleven months transition period has started which means UK will follow EU rules till end of this year. The real change will occur when the transition period will end.
Why UK quit European Union membership:
People of UK wanted to quit EU because they wanted to lift back the red tape of EU which imposes too many rules on their businesses. Another key reason was the sovereignty and a desire for Britain to take back full control of its borders.
What is European Union (EU)?
European Union is the international organization comprising 27 European countries and governing common economic, social, and security policies. UK was the founding member of EU. It was established in 1973.
Its purpose was to enhance European political and economic integration by creating a single currency (the euro), a unified foreign and security policy, and common citizenship rights and by advancing cooperation in the areas of immigration, asylum, and judicial affairs.
The EU was awarded the Nobel Prize for Peace in 2012, in recognition of the organization’s efforts to promote peace and democracy in Europe.
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