#Brexit EXPLAINED!

Why is everyone talking about Brexit? Is it really that big of a deal? I think it is, and I’ll tell you why. 
What happened?
A referendum was held on Thursday, June 23, 2016 to decide whether the UK should leave or remain in the European Union. Known as the British Exit or Brexit, the referendum resulted in an Overall vote to leave the EU, with the Leave votes winning by 52% to 48%. 
The Referendum turnout was 72%, with More than 30 million people voting. It was the highest turnout in a UK-wide vote since the 1992 general election.
The vote was split between the countries of the United Kingdom The vote was split between the constituent countries of the United Kingdom, with a Majority in England (except London) and Wales voting to leave, and a majority in Scotland and Northern Ireland, voting to remain. 96% of Gibraltar also voted to remain.
Financial markets reacted very negatively to the outcome and stock markets around the world crashed. The value of the pound sterling fell to a 31-year low and investors lost more than the equivalent of 2 trillion United States dollars on June 24, 2016, making this day the worst single day drop in history. 
Quiz question, please see the pop quiz question in our 20 things about the Romans vid
Min 1:10: music and background changes
Question: Has any other member state ever left the EU? 

What is the European Union?
To understand what this all means it’s important to know what the European Union is. The idea for the EU came after the horrific events of WWII when there was a desire to keep the European countries from going to war with each other again. It evolved into an economic union of 28 countries whose citizens and countries can trade and move freely across borders and negotiate international agreements as a block. (MAP OF EU MEMBER COUNTRIES ) 
The EU has its own currency, the euro, which is used by 19 of the member countries, its own parliament and it now sets rules in a wide range of areas – including the environment, transport, consumer rights and even things such as mobile phone charges. 
Despite being a member, the UK does not use the Euro. Only EU members that signed the Treaty of Schengen agreed to use the Euro as their currency. (Pic of Euler EU Brexit Diagram) Here you can see on this diagram the countries in the EU that use the Euro in the Schengen Area. And here you can see the UK as part of the Eurozone and the EEA which is the European Economic Area. 
The UK is deeply connected by trade to the rest of the EU which accounts for the largest share of Britain’s total global exports and imports, about 30% of Britan’s total GDP. 
Who wanted the UK to leave the EU?
The UK Independence Party (or UKIP) which won the last European elections, campaigned for Britain’s exit from the EU.
About half of Conservative Members of Parliament (or MPs), including five cabinet ministers, several Labour MPs were also in favor of leaving.
What were their reasons for wanting the UK to leave?
According to UKIP and others, Britain is being held back by the EU, and is the victim of bureaucrats that nobody knows who control business and charge billions of pounds a year in membership fees for little in return. 
One of the main arguments for leaving the EU is that it would result in immediate cost savings, as the country would no longer contribute to the EU budget. Boris Johnson, former London mayor, was driving around in a bus saying that the UK sends the EU 350 million pounds a week. However, critics argue that the number is actually about 190 million pounds after the rebates the UK receives and other money the EU sends back. Now when Britain leaves the EU, it may have to spend close to that to access the common market.
They also wanted Britain to take back full control of its borders and reduce the number of people coming there to live and work. One of the main principles of EU membership is “free movement”, which means you don’t need to get a visa to go and live in another EU country. With the recent terrorist attacks and rise in immigration from Europe, UKIP and others have used this as a major argument to leave.