David Cameron’s resignation to set off leadership scramble

We expect the United Kingdom to formulate its proposals in this respect.

Trump, whose visit to Scotland is his first global trip since sealing sufficient delegate support to be the GOP standardbearer this fall, also predicted that other nations will follow the United Kingdom’s lead.

“I will do everything I can as prime minister to steady the ship over the coming weeks and months”, he said, “but I do not think it would be right for me to try to be the captain that steers the country to its next destination”.

The electoral commission said 52 percent of voters opted to leave the EU. Poland, where numerous eastern Europeans in Britain come from, saw its zloty slump 5 percent.

Polls ahead of the vote had shown a close race, but the momentum had increasingly appeared to be on the “remain” side over the last week.

The Dax and the Cac – the stock exchanges in Germany and France respectively – both fell following the referendum result.

In a statement issued later on Friday morning, Bank of England governor, Mark Carney said “the United Kingdom financial system can absorb any stresses” due to the high liquidity and capital reserves of its banks.

“We are well prepared for this”, Carney said.

“Today the European flag is at half-mast, but sometimes it is necessary to take a step back before taking a step forward”.

Senior EU represenatives said the United Kingdom should implement Brexit “as soon as possible, however painful that process may be” warning “any delay would unnecessarily prolong uncertainty”. “U.K. negotiations with the European Union will prove hard, given that EU leaders will not want to set a precedent for an easy withdrawal for other countries that could reconsider their status, such as Denmark”, said Howard Archer of IHS, a research firm. Leaving the single market of 500 million people – with its free-trade benefits – would be a mistake.

Leaders from across the European Union voiced regret at the British decision.

The vote could impact the roughly 600 companies from the European Union that have operations in Charlotte.

While he admitted that the a year ago has been one of the toughest in European Union history, Tusk said: “What doesn’t kill you, makes you stronger”. It’s a subject that resonated with many voters, who have seen hundreds of thousands of people come to Britain over the past decade from new European Union members in eastern Europe.

AFTERMATH: A picture emerged of a sharply divided Britain: Strong pro-EU votes in the economic and cultural powerhouse of London and semi-autonomous Scotland were countered by sweeping sentiment for an exit across the rest of England, from southern seaside towns to rust-belt former industrial powerhouses in the north.

Others expressed anger and frustration.

As if Britain’s departure wasn’t bad enough, Cameron’s resignation and decision to leave exit negotiations to his successor from October raised new worries about how long the process might drag on and possibly fuel the ambitions of others who might want to leave. “Leave means leave. The times of cherry-picking are over”, European Peoples Party leader Manfred Weber said.

Jorg Kramer, the chief economist at Germany’s Commerzbank, told EUobserver on Friday: “The reaction of the markets was significant but we are not in panic mode”.

Now seen by his supporters as a champion of the working class, Farage called the vote a “victory for real people”. “It’s a great thing”.

“People are angry all over the world”, he said.

She said the referendum was about “defusing that time bomb” – but Cameron has “moved from having one ticking time bomb to having another ticking time bomb”. The “leave” campaign accuses the immigrants of taxing Britain’s housing market, public services and employment rolls. “The EU will be very tough negotiators with them”. But the appeal to a Churchillian bulldog spirit and stoicism proved too little, too late.

The referendum campaign was unexpectedly bitter and divisive, and was brought to a shocked halt when Labour lawmaker Jo Cox was shot and stabbed to death in the street last week.

“We can not afford to wait until the Conservative Party will find a new leader”, said Slovak Foreign Minister Miroslav Lajcak, whose country takes over the EU’s presidency next week and will have to supervise preparations for Britain’s departure. One expert said the result could fuel similar efforts in other countries. But even as he gave a timetable for his own exit by the fall, he sought to offer immediate reassurances to anxious markets, calling Britain’s economy “fundamentally sound” and saying there would be no immediate changes in the status of immigrants in the country. “A July (hike) is definitely off the table”, Mike Baele, managing director with the private client reserve group at U.S. Bank in Portland, Oregon.

Companies will wonder whether to invest or locate in Britain during the years-long negotiations to define new trade conditions with the European Union, its biggest business partner. “It means instability of the situation in Britain now”. The negotiations will go far beyond tariffs, including issues such as cross-border security, foreign policy cooperation and a common fisheries policy.

It could also threaten London’s position as one of the world’s pre-eminent financial centers as professionals could lose the right to work across the EU. Of those, 118 are from the United Kingdom, according to the Charlotte Chamber. “If we left the European Union we could end this passport discrimination system we have”. “Britain has a proud history of leadership in free enterprise and free trade and as a leader of the Atlantic Alliance”.