Markets reel as world absorbs shock of UK vote for Brexit

“(Corbyn) clearly isn’t the right person to actually lead the party into an election because nobody thinks he will actually win, ” said Labour legislator Frank Field.

There was also some speculation today that Britain’s opposition Labour party could also see a leadership spill.

The new party leader, who will become prime minister, is expected to be in place by October.

First Minister Nicola Sturgeon declared ahead of the gathering that a second Scottish independence vote was now “highly likely” after a 2014 referendum backed staying in the UK.

Many global banks use Britain as a springboard for their business throughout the EU. She says there is no urgency for Britain to leave, but “quite honestly, it should not take ages”.

European Commission President Jean-Claude Juncker said in a statement that he accepted the resignation with “regret”. “If tomorrow Britain is not part of the single market, the City can not keep this European passport, and clearing houses can not be located in London either”, he said.

The country will also remain committed to global trade, as well as the G7 and the G20, Mr Wightman said.

During his visit to the United Kingdom previous year. The bulk of that is in residential and commercial property, infrastructure and regulated assets, and there’s no reason to think that the decision made by the British people will have any significant bearing in the medium to long term on the attractiveness for Singaporean investors for those sorts of assets in the United Kingdom, setting aside the short-term volatility that we have inevitably seen in the wake of what is obviously a very significant decision.

John McDonnell told the BBC Sunday that “Jeremy’s not going anywhere”.

At least eight members resigned Sunday after Corbyn fired shadow Foreign Secretary Hilary Benn overnight for reportedly plotting a rebellion against him. We have to focus our common efforts on those challenges which can only be addressed by common European answers, while leaving other tasks to national or regional levels.

Of the individuals who voted 52% voted to leave the European Union, while 42% still wanted to be a part of it. Wale also decided in favor of leaving the European Union, along with England with a vote ration of 52.5% to 47.5%.

Corbyn told a meeting in London Saturday that politicians needed to take seriously voters’ concerns about immigration, which led many to back a British exit from the 28-nation EU.

Dutch far-right MP Geert Wilders and French National Front leader Marine Le Pen immediately called for referendums on European Union membership in their own countries.

Ms Sturgeon said her administration was also entering “immediate discussions” with European Union institutions and other member states to “explore possible options to protect Scotland’s place in the EU”.

Cameron said he would stay on and help “guide the ship” until October while the Tories choose their new leader, and said it would be his successor’s responsibility to officially notify the European Union of its plans to leave under Article 50 of the Lisbon Treaty, which would trigger two years of divorce proceedings from the other 27 members.

European Commission chief Jean-Claude Juncker called for rushing Britain out of the door as the bloc grappled with the impending loss of one of the world’s top economies, the first defection in its 60-year history. On Monday, he will be the first senior US official to visit London and Brussels since the referendum, and he said he would bring a message of USA support to both capitals.

In the short term, the EU’s policy commissioners will meet Monday in Brussels to take stock of developments.

Britain, however, saw no need for quick action. He tweeted: “David Cameron was quite right”.

Just days after voting to leave the European Union, more than 2.5 million Britons and United Kingdom residents had signed a petition calling for a second vote, forcing lawmakers to at least consider a debate on the issue.

He also said the European Union would remain one of the indispensable partners of the US.