The EU exit or not

"Brexit" - a term coined to describe a potential British exit from the European Union - has been in overdrive over the past few weeks as Prime Minister David Cameron has warned European leaders that the UK could leave the EU if certain demands are not met.

In a shopping list delivered to European Council President Donald Tusk on Tuesday, Cameron called for a four-year ban on EU migrants claiming in-work benefits after entering the UK. He also asked for improvements in economic competitiveness, and said that he wanted to see greater fairness between the eurozone and non-eurozone nations.

A referendum on the UK's EU membership is scheduled to take place before the end of 2017.

Those in favour of "Brexit" argue that outside the EU, the UK would be better able to control immigration and negotiate trade agreements on its own terms, as well as cut red tape and reduce the burden of EU regulations.

However, others say the consequences could be catastrophic, with a huge economic fallout.

"Brexit" could see the UK economy lose more than two percent of its total GDP by 2030, critics argue.

There are also concerns that opening up Britain's economy to the rest of the world could expose UK firms to huge competition from low-cost countries.

Britain could be landed with £11bn trade bill as free trading ends

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However, so far one of the biggest uncertainties surrounding "Brexit" is the fact that such an exit has never been done before, so no one really knows what the exact fallout or benefits could be.

On a personal note I believe the ecomony would survive but on day 1 shares would tumble due to uncertaincy it would take up to 5 years for this recovery, but remember you dont get back what you have lost you are just back at the same point... Meanwhile the rest of the world has had 5 years to run away...

Migrants... Much as I will help those in need, wholesale un-controlled migration into the uk is not the way. We need contoll over our borders, we should be able to say yes or no.

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Am I in or out - Well I was a definetly in, but not so sure now. We are a strong country do we need others to help run our life. Do not like EU control