What does Brexit mean?
It is a word that has become used as a shorthand way of saying the UK leaving the EU - merging the words Britain and exit to get Brexit, in a same way as a possible Greek exit from the euro was dubbed Grexit in the past.Why is Britain leaving the European Union?
A referendum - a vote in which everyone (or nearly everyone) of voting age can take part - was held on Thursday 23 June, to decide whether the UK should leave or remain in the European Union. Leave won by 52% to 48%. The referendum turnout was 71.8%, with more than 30 million people voting.
What about the economy?
The UK economy appears to have weathered the initial shock of the Brexit vote, although the value of the pound remains near a 30-year low, but opinion is sharply divided over the long-term effects of leaving the EU. Some major firms such as Easyjet and John Lewis have pointed out that the slump in sterling has increased their costs.
Britain also lost its top AAA credit rating, meaning the cost of government borrowing will be higher. But share prices have recovered from a dramatic slump in value, with both the FTSE 100 and the broader FTSE 250 index, which includes more British-based businesses, trading higher than before the referendum.
The Bank of England is hoping its decision to cut interest rates from 0.5% to 0.25% - a record low and the first cut since 2009 - will stave off recession and stimulate investment, with some economic indicators pointing to a downturn.
How long will it take for Britain to leave the EU?
Once Article 50 has been triggered, the UK will have two years to negotiate its withdrawal. But no one really knows how the Brexit process will work - Article 50 was only created in late 2009 and it has never been used.
Former Foreign Secretary Philip Hammond, now Chancellor, wanted Britain to remain in the EU, and he has suggested it could take up to six years for the UK to complete exit negotiations. The terms of Britain's exit will have to be agreed by 27 national parliaments, a process which could take some years, he has argued.
EU law still stands in the UK until it ceases being a member. The UK will continue to abide by EU treaties and laws, but not take part in any decision-making.
PART FROM: http://www.bbc.com/news/uk-politics-32810887
WHAT: Brexit
WHO; Britain
WHEN: not given
WHERE: European Union
WHY: For the better economy
KEY WORDS:
2.referendum 公民投票
4. stave off 擋開,阻止
5.withdrawal 撤退,退回,取消
6.parliament 議會,國會