The article discusses the impact of Brexit on both the United Kingdom (UK) and European Union (EU). The process of exiting the EU involves a two-year period where existing treaties no longer apply to the withdrawing country, and negotiations take place for a withdrawal agreement. The UK's decision to leave the EU has resulted in a slump in the pound, expected high immigration rates, and detrimental trade relations with the EU. The article also explores the impact on existing EU members, noting that many countries are considering leaving the union as well. Finally, it discusses the concept of 'hard-Brexit' versus 'soft-Brexit', where hard-Brexit would require the UK to leave the single market and trading partners would suffer losses.