Brexit: UK Votes Leave
The votes are in and Great Britain is leaving the European Union, to the great shock of many who didn’t believe this would happen. Reuters reports that this result has forced “the resignation of Prime Minister David Cameron,” and dealt “the biggest blow since World War Two to the European project of forging greater unity.” Former London mayor Boris Johnson, the face of the Brexit movement, is now being considered the favorite to succeed Cameron as Prime Minister.
It also dealt a big blow to global financial markets. A drop in the value of the pound of at least 10% has produced fears of an imminent recession in the UK. World stocks and banks suffered alarming drops following the results.
Proponent of the referendum hailed the results, declaring it a historic vote for British independence while others feared that the UK will now split apart as a call for a new referendum on Scottish independence went out. The majority of Scottish voters wanted to stay in the EU. In this video, EU Commissioner Günther Oettinger discusses the effect on the rest of Europe.
Reaction continues to pour in on Twitter, as well in worldwide reports.