NEWS LISTENING

Part 12:

- The fact that residents of the UK voted to leave the EU is described as …................
……….(1) It is somehow comparable to the fact that Texas managed to
………................…..(2) from the US.
- Several effects have been pinpointed. Firstly, the UK’s Prime Minister announced
his resignation, likely to be replaced by Boris Johnson who hailed Brexit as a
………………....(3). Secondly, while the British pounds has collapsed to levels
unseen in the last 30 years, the Euro still decreased …….............……........……(4).
The global Stock Market also suffered heavily, with the ….........……………….......
…….(5) experiencing the largest fall in five years. Moreover, Brexit means that the
UK will not be involved in the ............………………..(6) anymore, which will make
the UK and EU economies suffer a lot.
- As the UK no longer remains part of EU, it would be unbelievable not to organize
the (7) ……………..........……. to leave the UK.
- The majority of the elderly people voted to leave because they believed that Brexit
would help to increase the fund for healthcare and ………................…….(8) A
responder, when asked, expressed her feelings to be …..............………….(9) by older
voters.
- This may not be the last break – up of the EU as …………...............…………(10)
also called for referendums in the aftermath of the Brexit vote.

On June 23 2016, residents of the United Kingdom voted to leave the European
Union. So what happens now? Well, to be honest, we don't know this is absolutely
unprecedented. This is if Texas actually managed to secede from the United States. So
far, there have been several immediate effects. First, within hours of the boat, the UK
Prime Minister David Cameron announced his resignation, the British people have
made a very clear decision to take a different path. And as such, I think the country
requires fresh leadership to take it in this direction. Cameron supported the push to
stay part of the EU. While his likely replacement conservative former London Mayor
Boris Johnson pushed to leave calling Brexit a glorious opportunity. But so far, things
have been far from glorious. Since the vote the British Pound has collapsed in value
dropping the levels unseen in the last 30 years and threatening to drop below the
dollar which is apparently never happened before the Euro to solve steep but less
severe dropped. And when the London Stock Exchange open on the morning after the
vote, the top 100 companies had collectively dropped more than 500 points the largest
fall since the 2008 economic crisis. And despite the dollar rising In response, the Dow
Jones stock market index dropped more than 600 points its worst day in five years.
Although the stocks have slightly recovered following the initial panic, the future of
the UK economy does not look good. London is the most important financial center in
Europe and financial markets account for 10% of the UK GDP. But by leaving the
EU, the UK will no longer be party to the EU financial regulations making it
impossible to rely on for financial investment until new regulations are established.
Many economists say that this will significantly damaged the UK and EU economies
in one scenario proposed by the International Monetary Fund by 2017. Britain will fall
into a recession and unemployment could hit 7% by the following year. Coupled with
severe inflation, although as a result of the pound being cheaper, trade will likely rise,
although that's not necessarily worth it for UK residents. And while we've talked
about other countries following the UK example of leaving the EU, one unexpected
result from the referendum showed that the majority of Scotland voted to stay. This is
because when Scotland held their own vote to leave the UK back in 2014, many
agreed to stay under the assumption that the UK would remain part of the EU. Now,
that's no longer the case. So it would be unfathomable for Scotland not to hold a
second referendum, and it's likely they'd finally gain their independence. Similarly,
UK controlled Northern Ireland is already discussing unification with the rest of
Ireland, nearly a century after their division. So the question is, how did this all
happen? Why would the UK vote for something with such negative consequences?
Well, in a nutshell, age 75% of 18 to 24 year olds voted to stay compared to less than
40% of those 65 some of referred to the results as the older generation voting for a
future that the younger generation doesn't want. Some suggests that older voters were
swayed by arguments that there would be more money available for their health care,
and that it would help restrict immigration. Meanwhile, many young voters hope to
stay and reap the same benefits as their parents such as free travel throughout Europe
and greater educational and economic opportunity. We spoke with several people
living in the United Kingdom to get their take on the situation.

“I think now that we're out of the EU, it doesn't stop us from continuing to be a very
united kingdom. Amongst overwhelming consensus I also have felt was a certain
amount of betrayal from older generations having voted this way when they probably
won't have to live with the repercussions. It means”

Although the referendum is passed, it's not an immediate process. The vote triggers
article 50 of the Treaty on European Union and could take as long as two years to
actually break away. Already UK residents are calling for a second referendum. But
the immediate effects are devastating. And there's no question that both the United
Kingdom and the European Union will be changed forever. But that may not be the
last breakup of the European Union. Italy, France, Holland and Denmark have also
called for referendums in the aftermath of the Brexit vote. So how likely are these
other countries to leave? And could this be the end of the European Union as we know
it? Find out in this video, in fact, in a 2016 pupil of European citizens, nearly half of
respondents had an unfavorable view of the 28 member bloc. Thanks for watching
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