British Prime Minister David Cameron hailed a landmark deal between EU and Britain and he said it gave Britain “special status” in the European Union. He called a June 23 referendum on membership of the European Union.
- Mr. Cameron said he had secured the Cabinet’s backing to recommend to voters that Britain stay in the bloc it joined in 1973.
Benefits of being a part of EU
- The agreement between the two sides granted Britain an explicit exemption from the founding goal of an “ever closer union”, offered concessions on the welfare rights of migrant workers and safeguards for the City of London.
- Mr. Cameron said leaving Europe would threaten their economic and national security.
Disadvantages of the exit
- A British exit from the European Union would rock the Union — already shaken by differences over migration and the future of the euro zone — by ripping away its second-largest economy, one of its top two military powers and by far its richest financial centre.
- An exit could also trigger the break-up of the United Kingdom by prompting another Scottish independence vote. The $2.9-trillion British economy would face years of uncertain negotiations over the terms of a divorce.
- Opinion polls show that a significant number of Britons have yet to make up their mind, though perceptions that the EU has failed to deal with the migrant crisis may be turning some towards a ‘Brexit’.
A Cabinet meeting, the first to be held on a Saturday since the 1982 Falklands War, will formalise government support for staying in the EU and Mr. Cameron has said ministers will then be free to campaign on whichever side they want. CTSY: the hindu, indian express