UK Votes to Seperate from EU, PM Resigns, Stocks Dip
editor last edited by
Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow since World War Two to the European project of forging greater unity.
Global stock markets plunged on Friday, and the British pound saw its biggest one day drop in history, as results from a referendum defied bookmakers' odds to show a 52-48 percent victory for the campaign to leave the bloc Britain joined more than 40 years ago.
The United Kingdom itself could now break apart, with the leader of Scotland, where nearly two-thirds of voters wanted to stay in the EU, saying a new referendum on independence from the rest of Britain was "highly likely".
German Chancellor Angela Merkel will meet French, German and Italian leaders in Berlin on Monday to discuss future steps, and the foreign ministers of Germany, France, Italy, Belgium, the Netherlands and Luxembourg, will meet on Saturday morning.
The British pound fell as much as 10 percent against the U.S. dollar on Friday to levels last seen in 1985 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. The euro slid 2.0 percent against the U.S. dollar.
World stocks saw more than $2 trillion wiped off their value. European stocks ended down 7.0 percent STOXX, the biggest one day fall since 2008. U.S. stocks fell suffered the largest selloff in ten months sharply, with the Dow Jones industrial average .DJI losing 3.4 percent.
Read complete article at http://in.reuters.com/article/in-britain-eu-idINKCN0Z902O
Just 100 years ago the sun would never set on the British empire and in a matter of a century once a world greatest colonial power has just been reduced to a US lackey. And after the divorce from the EU it will most likely further disintegrate in the years to come as Scotland and Ireland look poise to secede from it.
As they say what goes up must come down, but it would be that quick and swift, no one would have imagined.
Now they are asking for another referendum. Brits are really stupid people.
I would disagree. They realised that such an important issue should not be decided with a simple majority vote and are asking for another referendum. I would say they are an alert nation and democrats.
This argument sounds familiar. Isn't it?
Wherever I have won the election its understandably free and fair but if I haven't won it anywhere its definitely rigging.
Guess: His first name starts with I while last name with K
It always helps to read and understand the writing with proper context.
Phobia can develop into a disease.
Is it gonna be more bad for the migrants in UK after the Brexit?