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In 1979, the UK secured its first opt-out, although the expression was not contemporary; it was the only EEC country not to take part in the European Monetary System. The Labour Party campaigned in the 1983 general election on a commitment to withdraw from the EC without a referendum. [31]
In 1979, the United Kingdom opted out of the newly formed European Monetary System (EMS), which was the precursor to the creation of the euro currency. The opposition Labour Party campaigned in the 1983 general election on a commitment to withdraw from the EEC without a referendum. [16]
The United Kingdom did not seek to adopt the euro as its official currency for the duration of its membership of the European Union (EU), and secured an opt-out at the euro's creation via the Maastricht Treaty in 1992, wherein the Bank of England would only be a member of the European System of Central Banks.
Subsequently, the UK sought, and was granted, a number of Article 50 extensions until 31 January 2020. On 23 January 2020, the withdrawal agreement was ratified by the Parliament of the United Kingdom, and on 29 January 2020 by the European Parliament. The UK left the EU on 31 January 2020 at 23:00 GMT, ending 47 years of membership. [3] [4]
The UK informed the European Council of their decision to exercise their opt-out in July 2013, [19] and as such the impacted legislation ceased to apply to the UK as of 1 December 2014. While the protocol only permitted the UK to either opt-out from all the legislation or none of it, they subsequently opted back into some measures. [20] [21] [22]
23 May: The UK holds elections to the European Parliament. At 37.2%, turnout is the second-highest in any European election in the country. [202] The Conservatives lose 15 seats with a vote share of 9.1%, [203] making it their worst result in a national election since 1832. [204] May declaring her resignation as prime minister on 24 May 2019 [205]
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The European Union Referendum Act required a referendum to be held on the question of the UK's continued membership of the European Union (EU) before the end of 2017. It did not contain any requirement for the UK Government to implement the results of the referendum. Instead, it was designed to gauge the electorate's opinion on EU membership.