Question

Meaning of pooling sovereignty and retaining identity

Answer 1

In modern world it's worth differentiating between substance and symbols of sovereignty.  

Substance is freedom to act independently something that is seldom possible for a single country.”  

Margaret Thatcher’s Conservative party when urging Britons to vote to stay in EU at 1975 referendum on membership.  

Maximum 40 years later Tory Brexiters are fighting for symbols of sovereignty.

Answer 2

Pooling sovereignty:

Pooled sovereignty means the consolidation of a country's resources by uniting them with those of other countries. Pooling sovereignty is the conceptual response to a realization of weakened and invaded sovereignty.

Retaining identity:

Retaining identity means keeping hold of our disposition or character under any conditions.

By pooling sovereignty and retaining identity, a state can increase its security.

Hope it helped...