Britain’s EU commissioner, finance chief Hill, says resigning

“Like many people here and in the United Kingdom, I am obviously very disappointed about the result of the referendum”.

Lord Hill said in his statement that he hoped Britain would want to “play a role in arguing for an outward-looking, flexible, competitive, free trade Europe”. “At the same time, there needs to be an orderly handover, so I have said that I will work with him to make sure that happens in the weeks ahead”, Hill said.

The damning verdict of British voters was the worst setback to the European Union since the germ of a more integrated Europe first took shape in the ruins left by World War II.

Despite all this, the European Union is still standing. I consider him to be a true European and not just the British commissioner.

“He was someone I worked with closely and who had an intimate understanding of financial services from Dublin’s perspective. But what is done can not be undone and now we have to get on with making our new relationship with Europe work as well as possible”.

“It’s a major loss to Ireland in my view and highlights the seriousness and the immediacy of the problem with which we have been confronted”.

European Commission President Jean-Claude Juncker wipes his brow before speaking during a media conference at EU headquarters in Brussels on Wednesday, June 22, 2016.

The British member of the EU executive, Financial Services Commissioner Jonathan Hill, resigned on Saturday after having campaigned against Britain leaving the European Union.

“This notification will launch the withdrawal procedure”, the draft text says, and is necessary “to prevent damaging uncertainty for everyone and in order to protect the Union’s integrity”. From July 16, the portfolio will be handled by Valdis Dombrovskis, the Latvian commissioner who, as vice president for the euro, already oversaw Hill’s brief.

Cameron, who will be replaced once his Conservative party elects a new leader, will leave it to his successor to discuss what to do with Britain’s seat on the Commission, a British spokesperson said.

EU Council President Donald Tusk warned that British withdrawal “could in fact be the start of the process of destruction of not only the EU, but also of the Western political civilization”.

The shock outcome of Thursday’s historic referendum threatens to lead to the break-up of the United Kingdom after Scotland raised the prospect of another independence vote, and could have a knock-on effect on other eurosceptic member states.

“Negotiations have to go quickly in the common interest”, Jean-Marc Ayrault said.

In the draft resolution to be voted on by MEPs next week, the European Parliament describes the British referendum as “a crucial moment for the EU”.