Britain votes to leave EU; Prime Minister resigns

The British pound plummeted to a 31-year low. “But the United States — having a longstanding friendship with the United Kingdom, one of the world’s greatest Democracies — we fully respect the decision they have made”.

The four biggest groups in the European Parliament are also reported to have drawn up a draft resolution calling for the Prime Minister to begin the process of the United Kingdom leaving the EU.

“There’s this feeling that we’re losing our cultural identity and our national identity”, said Brian Klaas, a fellow in comparative politics at the London School of Economics to The New York Times.

Before the vote, government officials in the United Kingdom who favored Britain staying in the European Union were reluctant to discuss, or even admit to considering, options they could take in the case of a “leave” victory, for fear of validating that campaign and relinquishing any momentum.

Cameron said Friday a new prime minister should be in place by a party conference in October.

Among the possible contenders are former London Mayor Boris Johnson and Justice Secretary Michael Gove, who both helped lead the “leave” campaign, and Home Secretary Theresa May. “I would reassure those markets and investors that Britain’s economy is fundamentally strong and I would also reassure Britons living in European countries and European citizens living here, that there will be no immediate changes in your circumstances”. “That seems to me like a reasonable timetable”, Mr Fox said.

“It is not an amicable divorce but it was also not an intimate love affair”, he said.

“Of course a new (British) prime minister must be appointed, that will probably require a few days but this is quite urgent”, he said on Saturday after an emergency meeting attended by Germany, France, Italy, the Netherlands, Belgium and Luxembourg. “There’s urgency” and “no time to lose”, Mr. Ayrault told reporters.

Britain and the European Union haven’t even begun divorce talks but they are already bickering, as political and economic shockwaves from the British vote spread around the world.

Another additional factor is the various reports of those who voted Leave but now say they are dismayed at what has happened.

Ayrault, the French foreign minister, said earlier other European Union leaders would press Cameron at a summit meeting next week to act quickly: “There will be a lot of pressure on Cameron on Tuesday to move ahead”, he said.

Cameron said there is no doubt about the result of the referendum but that he is not the “captain” that will steer the ship through hard negotiations with the EU. The referendum, known as the Brexit, was held June 23, with 51.9 percent voting to leave the EU and 48.1 percent voting to stay in the political-economic union.

After meeting with her cabinet in Edinburgh, Ms Sturgeon said “we will seek to enter into immediate discussion” with other European Union nations and institutions to “explore possible options to protect Scotland’s place in the EU”.