Britain votes to leave EU, Cameron to step down by October

(From Reuters)

Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow to the European project of greater unity since World War Two.

David Cameron

David Cameron

Global financial markets plunged as results from Thursday’s referendum showed a near 52-48% split for leaving.

The pound fell more than 10% against the dollar to levels last seen in 1985, its biggest one-day fall in history, on fears the decision could hit investment in the world’s fifth-largest economy, threaten London’s role as a global financial capital and usher in months of political uncertainty.

European shares plummeted more than 8%, headed for their biggest ever one-day fall. Billions of dollars were wiped off European banks’ market value, with Britain’s Royal Bank of Scotland, Barclays and Lloyds Banking Group among the biggest fallers.

An emotional Cameron, who led the “Remain” campaign but lost the gamble he took when he called the referendum three years ago, said he would resign as prime minister by October. Read More



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