(noun) See Brexit
Brexit is a portmanteau of "Britain" and "exit"! This refers to exit from the EU.
When Brexit was triggered to happen
When will Brexit happen?
David Cameron resigned as PM on the 13th July 2016, and then Theresa May became the new Prime Minister. The new Tory Leader and PM triggered Article 50 of the Lisbon Treaty (in effect, the EU Constitution). This gave us 2 years to negotiate trade deals and shit, then, by October 2018, it was assumed we would be GONE! (www.bbc.co.uk/news/uk-politics-36615028) Things didn't work out, Brexit was delayed twice, it's now official that the UK will leave the EU at the end of October 2019 but no one is quite sure what will happen.
Key campaigners for Brexit (In order of influence)
- Nigel Farage (UKIP)
- Boris Johnson (Tory)
- Michael Gove (Tory)
- Zac Goldsmith (Tory)
- Frank Fields (Labour)
Leftie appreciation of Brexit?
Well, now we have a slightly better democracy from breaking ties with the unelected officials in Brussels, and us lefties have been (historically) the ones who have most fought for democracy, amirite? The French Revolution was done against absolute monarchy by peasants who wanted a fairer society, and Divine Right of Kings was taken down by lefties.
We can run our own deficits
We have our own economy, so if we get screwed over economically, then we can borrow from other countries individually. Also, we WON'T have to run as part of a large EU deficit when an EU country gets fucked over economically, but we CAN charitably help them out a bit. (youtube.com/watch?v=3xq-gWv91WM)
The bad side
The chief economist at the Organisation for Economic Co-operation and Development, said a vote against remaining in the EU would be “bad for the UK, bad for Europe and bad for the global economy. (...) 40% of the UK’s trade goes to Europe. It will be faced with tariffs. Trade will be more costly. Divorce would take two years, and that’s a long time for there to be uncertainty.”
There have now been three years of uncertainty.
Will we really leave?
A few influential people are saying the referendum result shouldn't be binding.  Let's wait and see what happens. There's also a chance the British government will just stall forever, everyone will forget about it, then it'll just be awkward with Britain technically still in the process of leaving.