Name: The EU Is Headed for a Rough Patch
Uploaded: 2016-05-16
Duration: 1 min 7 s
Description: No matter the outcome of the Brexit vote

The EU Is Headed for a Rough Patch

the U. K's vote for a Brexit is fast approaching and no matter how the vote turns out, the European Union is headed for a rough patch. England will decide whether to pull its $3 trillion economy from the EU on June 23. Polls suggest the U. K will likely vote for remain a position strongly supported by Prime Minister David Cameron on a positive note. While prices in Europe are currently about 20% higher than on world markets, the UK could decrease prices by roughly 8% should Brexit succeed. But if the UK does become the first nation to leave the EU and it's 58 year history, it could trigger a domino effect. Cameron would likely have to step down, immigration could be restricted and the nation would have to pay significant duties on Jaguars and Cadbury products they export to the EU outside of England. The move could lead more nations to defy Brussels as frustrations grow over the EU s flagging GDP and the costs of helping refugees, among other concerns. As Jonathan Port is of the National Institute of Economic and Social Research put it. If Brexit wins, we can count on a lot more referendums