• Brexit is an abbreviation of "British exit".
• Article 50 of the Treaty on European Union establishes the procedures for a member state to withdraw from the EU. The EU was founded in 1993, but its origins can be traced back to 1951 when Germany, France and other countries create a peaceful coalition after World War II.
• Britain joins EU in 1973. Brexit supporters want to go with the exit for British sovereignty, identity and its other national interests such as trade, immigration, financial and labor regulation. Leaders like Nigel Farage lead the Brexit campaign.
• Within the EU, all member countries have some advantages and disadvantages. Since EU is a single market in which no tariffs are imposed on imports and exports between member states.
• Britain exports more than 50 percent to EU countries. So they lost a heavy amount in the process. Also due to less work paper, immigration becomes a one of the main reason for Brexit. Also a large number of immigrants coming to Britain from European Union member countries.
• People of Britain went for voting on 23rd June, 2016 to decide exit or stay with the European Union. The outcome came in the favour of exit from EU.
• Brexit could re-write Britain's trade, including market access and services with Europe and other countries. But the results can be seen in the coming years.
• Britain is the second country after Greenland to exit the bloc.