Britain votes to leave EU in historic divorce: BBC

24 June 2016 09:55 am - 14     - {{hitsCtrl.values.hits}}

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Britain has voted to leave the European Union, the BBC said based on voter tallies from Thursday's referendum, an outcome that would set the country on an uncertain path and deal the largest setback to European efforts to forge greater unity since World War Two.

World financial markets dived as counting from 304 of 382 areas showed a 51.5/48.5 split for leaving. Sterling suffered its biggest one-day fall of 9.4 percent against the dollar on market fears the decision will hit investment in the world's 5th largest economy, raise questions over London's role as a global financial capital, and usher in months of political limbo.

The euro slumped nearly four percent against the dollar on concerns a ‘Brexit’ vote would do wider economic and political damage to what would become a 27-member union. Investors poured into safe haven assets including gold, and the yen surged.

In an early mark of international concern, Japan's top currency diplomat Masatsugu Asakawa said he would consult with Finance Minister Taro Aso on how to respond to the market moves, describing the foreign exchange moves as very rough.

Yet there was euphoria among Britain's eurosceptic forces, claiming a victory they styled as a protest against British political leaders, big business and foreign leaders including Barack Obama who had urged Britain to stay in the bloc.

"Dare to dream that the dawn is breaking on an independent United Kingdom," said Nigel Farage, leader of the eurosceptic UK Independence Party.

"If the predictions are right, this will be a victory for real people, a victory for ordinary people, a victory for decent people...Let June 23 go down in our history as our independence day."

He called the EU a "doomed project".

Asked if Prime Minister David Cameron, who called the referendum in 2013 and campaigned to stay in the bloc, should resign if Britain voted for Brexit, Farage said: "Immediately."

Quitting the EU could cost Britain access to the EU's trade barrier-free single market and mean it must seek new trade accords with countries around the world. President Barack Obama says it would be at the "back of a queue" for a U.S. pact.

The EU for its part will emerge economically and politically weakened, facing the departure not only of its most free-market proponent but also a member country that wields a U.N. Security Council veto and runs a powerful army. In one go, the bloc will lose around a sixth of its total economic output.

Cameron is expected to formally report the result to his European counterparts within days and prepare negotiations for the first exit by a member state from the EU -- an exit he has said would be irreversible.

The British leader called the referendum in 2013 in a bid to head off pressure from local eurosceptics, including within his own party. Initially billed as an easy ride, the vote has now put his political future on the line. Party ally Boris Johnson, the former London mayor who became the most recognizable face of the "leave" camp, is now widely tipped to seek his job. (Reuters)

 

  Comments - 14

  • max Friday, 24 June 2016 10:21 AM

    English nationalism finally emerged. It is because 'bayyas' are there in Britain too?

    ANTON Friday, 24 June 2016 10:23 AM

    LOKU LOKU MANDALA WALATH KACHAL.......

    Unchikun Friday, 24 June 2016 10:33 AM

    This is a good result for the UK. The EU is now in shambles with the Euro sinking The result of getting on board unwanted states under its wing.

    Harith Friday, 24 June 2016 11:12 AM

    Due to been part of EU other countries were influencing UK too much. Foreign countries including Sri Lanka were trying to influence too much the voters to stay. Great lesson for all the countries to not to peep into the internal matters of another country as that will not be tolerated by the citizens.

    Asoka Friday, 24 June 2016 11:19 AM

    Now time for Sri Lankan voters, 100 ministers in Sri Lanka Govt. kick out this Govt. Peoples power every where in this world

    Raj Friday, 24 June 2016 11:24 AM

    When the initial three results came out LKR vs GBP was Rs. 219.75 when it approached to Final results, it is Rs.197.75!!!

    Daham Friday, 24 June 2016 12:45 PM

    Good lesson for the Sri Lankan Government politicians whowent all the way on a trip to London to ask the Sri Lankan living there to vote to stay in the EU.

    5555 Friday, 24 June 2016 01:13 PM

    It's a new beginning... It's about time..according to the scriptures..

    leel Friday, 24 June 2016 01:15 PM

    So UK goods are cheap for us now. it is good for UK export. They need pounds buy import. But they are export oriented country they have benefited.

    EU Friday, 24 June 2016 01:15 PM

    What a good news. UK will fall into parts. Scotland might leave UK. EU will have peace with NO UK they always wanted special treatment thinking of old "colonial days".

    Sense Friday, 24 June 2016 01:47 PM

    The cities have gone with staying and the rural areas with breaking - shows the thinking

    Jimmy Friday, 24 June 2016 01:59 PM

    Rw should ask the people by referendum if they agree on him opening up Sri Lanka to India.

    Bingo Friday, 24 June 2016 02:20 PM

    Never happen in this century mate. UK got excellent products and services to keep going with ease!

    Nanda Friday, 24 June 2016 02:27 PM

    Now the British only going to feed the sheep in Falkland Islands


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