Brexit is the highlight for EU-UK talks

By MoneyTimes

Sep 22, 2015 03:32 AM EDT

The newly-elected Labour Party leader Jeremy Corbyn warns supporters that "Brexit" could become a reality as early as next year. 

Corbyn, who is currently against the move for Britain to exit EU said that the talk between EU-UK in Brussels right now will determine the future of the country.

David Cameron and his entourage have been actively seeking out options for Britain with officials at the European Council since July.

Even George Osborne, the First Secretary of State had made an official meeting with Euro Zone Finance Minister regarding Britain currency. He said that the meeting was done to ensure that Britain currency will not be manipulated or fluctuate if voters are voting in favor of the "Brexit" soon.

According to Reuters, Cameron could call for the vote in June 2016 if he managed to get the right deal with the EU leaders from this talk.  "Brexit" is also expected to be the highlight of EU summit this mid-December.

David Lidington, Britain's Europe Minister told the press that there is a progress made regarding this issue during the Brussels talk. However, Jean-Claude Juncker also warned Britain to give a fair deal if the country plans to exit the membership such as no limitation on the movement of EU workers to the country.

A British official said the government could easily agree to that but capping the number of immigrants coming to Britain is the main problem that they wanted to tackle.

While some businesses are worried that Britain exiting could dampen their business such as higher export tax, however, more benefit in the long run can be expected as reported by The Telegraph.

This is because, as non-members of EU, Britain will have more freedom to decide on its import and export policy with other countries.

Ms Redwood, Chief UK Economist at Capital Economics also agrees that greater opportunities with non-EU countries could be done in the future and may lead to better economics condition.

Even the European Free Trade Association (EFTA) had told the press that Britain are welcome to join the association again.

The Financial Times reported that based on 6,300 votes done by Federation of Small Businesses (FSB) members' shows that 47 percent agree that Britain should remain as EU members, 41 percent want an exit and 11 percent are still undecided.

"Brexit" is the highlight for this year EU-UK talk as the contract for Britain in the EU is nearing its deadline. This, added with Britain Prime Minister David Cameron vow to tackle the rising migration crisis could means that Britain quitting as the EU members become a reality.

Under the agreement signed when Britain enters the Eurozone, Britain will still have two years after they exit EU whether to continue as a non-member or enter the EU again.

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