4 points on insurance and the EU

At one time the membership to the EU created insurance against issues such as rising trade prices.

11:38 18 May 2013

The recent debate over whether or not the UK should leave the EU remains a central issue with multiple opinions voicing concerns over the particular outcome.

 

For those who believe it is necessary in order for the country to survive, they may see this move as a sort of insurance against decisions made by the EU which could be detrimental to the UK. 

 

What type of insurance from problems would withdraw from the EU offer?

 

• Responsibility—while this is not a positive guarantee, the fact is that the UK would have the responsibility to make the decisions for what is best for the UK and to also bear the brunt of the consequences. 

 

• Narrowed focus—business dealings would be able to focus primarily on the UK’s ability to be successful within the UK and would encourage them to foster beneficial financial relationships with countries outside the EU which might offer them more insurance against financial devastation.

 

• Choice—the UK ultimately would have, or would be able to provide its citizens with the increased ability to determine the fate of certain decisions without having to worry about abiding by EU laws which often don’t address UK needs. 

 

• Trade—it used to be that being a member of the EU gave you a sort of insurance where trade was concerned, a protection against unfair rates for example. Now much of the trade is actually conducted with entities outside the EU membership. Without the constraints of the EU, the UK would be free to actively pursue more beneficial partnerships for trade. 

 

While at one time being a member of the EU would have brought a form of insurance to the economy, a sort of stability and guarantee of rates, that isn’t the case any longer and the UK would at least have the ability to make efficient decisions that are in the citizen’s best interest.