Might not work if the country is not faction leader, needs testing. Removes a country from the current country's faction. Releases the tagged country from the current country, the released country gets all states that were cores. Will write whatever localization it can find for the given name within the tooltip. Does nothing, but will show a custom message within the tooltip when hoovering with the mouse. If the country doesn't exist, then the event will never fire. Executes a country specific event in the future.
Besides effects, there are also State Effects that can only be exerted on selected states. Unless specified, all changes made by effects are made only once, they are not continuous like modifiers are. Effects are carried out once when triggered by the rules around it. There is a specific list of effects that can instantly change the game.