David Cameron resigns as UK vote for Brexit

david cameron

Today is an historic day as United Kingdom vote out of European Union. This is as a result of the referendum (Brexit) held which turn out to be the highest turnout at a UK election since 1992 as more than 30 million people (71.8 per cent) voted in the referendum.

Brexit ended up in 51.9% (17,410,742) voted to leave while 48.1%( 16,141,241) voted to remain in the EU. What comes out to be the immediate outcome of vote is the resignation of David Cameron in his emotional address to the nation outside 10 Downing Street.

 

The international market begins to feel the impact of Brexit as the Euro  begin to fall in the market. The Bank of England governor Mark Carney has this to say:

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It will take some time for the UK to establish a new relationship with Europe and the rest of the world. So some market and economic volatility can be expected as this process unfolds, but we are well prepared for this. Her Majesty’s Treasury and the Bank of England have engaged in extensive contingency planning and the chancellor and I have remained in close contact including through the night and this morning. The Bank of England will not hesitate to take additional measure as required, as markets adjust.

What will be the impact of Brexit for the world economy, international politics and what next after Brexit for United Kingdom.

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