The final results are in and the United Kingdom has decided to leave the European Union.
After the votes were counted in the historical referendum, 51.8 per cent of people wanted out of the EU – which equates to more than 17.1 million people.
British Prime Minister David Cameron has announced he will step down from the role he’s held for six year by October, after the result was announced.
While England voted overwhelmingly for Brexit, Scotland and Northern Ireland backed the Remain campaign.
The result has shocked onlookers the world over.
While not a lot will change within the UK immediately, the long-term ripple effect is set to be huge.
The referendum is not binding and will have to be voted on by the government.
However, as the Prime Minister voted to Remain in the EU, many political pundits believed his leadership in danger – and they proved correct. After calling the election and leading the campaign to keep the status quo, Cameron resigned to make way for leadership that could navigate the changes.
Throughout the day, as the votes were being counted, exchange rates skyrocketed and plummeted, with the pound dropping to a 30 year low.
The turbulent financial situation forced The Bank of England to issue a statement, saying: “The Bank of England is monitoring developments closely. It has undertaken extensive contingency planning and is working closely with HM Treasury, other domestic authorities and overseas central banks. The Bank of England will take all necessary steps to meet its responsibilities for monetary and financial stability.”
Russian media are even suggesting the referendum’s result could trigger the break up of the UK.
“British media are certain: at this rate the UK will leave the EU, but that could threaten the break up of the country itself,” reported Russia’s Vesti state television channel.
Prominent commentators took to Twitter to share their opinions on the result:
