Brexit termors rock Europe as Britain votes to leave EU

24 June, London

UK Electoral Commission has declared that Britain has voted to leave Europeran Union. As per BBC reports, United Kingdom has voted by 52 per cent to 48 per cent to leave the European Union after 43 years in an historic referendum.

The broadcaster said that London and Scotland voted strongly to stay in the Union but the remain vote has been undermined by poor results in the north of England. Voters in Wales and the English shires have backed Britain exit from the EU in large numbers. The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results.

After announcement of the referendum results, British Prime Minister David Cameron said he will step down following defeat in Brexit referendum. By October a new Prime Minister will be in office, he said. Meanwhile, French Foreign Minister Jean-Marc Ayrault today expressed discontent over Britain’s decision to leave the EU, saying Europe must win back the trust of its people. French President Francois Hollande had warned that Brexit would have extremely serious consequence. It is more than the future of the United Kingdom that is at stake, it’s the future of the European Union, Hollande said on Wednesday.

Referendum turnout was higher than at last year’s general election. Labour’s Shadow chancellor John McDonnell said the Bank of England may have to intervene to shore up the pound, which lost 3 per cent within moments of the first result showing a strong result for Leave in Sunderland and fell as much as 6.5 per cent against the euro.

UK Independence Party leader Nigel Farage, who has campaigned for the past 20 years for Britain to leave the EU, told supporters that this will be a victory for ordinary people. Britain’s 27 EU partners are anxiously watching the vote. They feared the departure of the bloc’s second biggest economy would weaken Europe’s unity and influence.