Obama: Britain, EU will remain ‘indispensable partners’ despite Brexit

While he admitted that the past year has been one of the toughest in European Union history, Tusk said: “What doesn’t kill you, makes you stronger”. Here is a quick look at some of the current key questions yet to be answered following Thursday’s referendum.

While there is no precedent for Article 50, the House of Lords has discussed how any Brexit would work.

Disentangling from the union is foreseen as the relatively simpler process, with renegotiating a lucrative trade deal and establishing acceptable tariffs and barriers with the UK’s biggest trading partner seen as the toughest and most uncertain aspect.

“I feel angry. Those who voted leave, they’re not going to fight the future”, said Mary Treinen, 23, a technological consultant from London’s trendy Shoreditch district.

Farage’s party opposes the wave of migrants pouring into Europe from the Middle East and North Africa, a crisis that became a major reason cited by those favoring an exit from the European Union, which sets immigration policy for member nations.

Britain’s “leave” campaigners have been accused of lacking a plan for the aftermath of a victory. They took their country back, just like we will take America back. Boris Johnson, considered to be a leading claimant to Tory leadership, welcomed the result by saying that nothing would change right away.

This is not spelled out but would include issues such as access to the single market, whether Britain will have trade deals with the European Union, whether free movement will continue, and so on.

After talks with French President Francois Hollande, she said it was “clear that there are some who want the divorce to be as painful as possible to discourage other peoples from taking the same path as the British”.

Is UK politics falling apart? Greene predicted that the Bank of England could have to print money to finance government spending, tax cuts or both and that the Bank of Japan could follow. The country will end up poorer – how much poorer, who knows, but the numbers will be in the many, many billions.

On Friday morning, the prime minister announced his resignation, just over a year into his second term, telling the country he would stay on until October to smooth the transition.

But feuding in the Conservative party is likely to continue as members choose a successor to Mr. Cameron.

In a statement, Juncker said: “It is with great regret that I have accepted Lord Hill’s decision to resign from the Commission”.

Opposition Labour leader Jeremy Corbyn is facing calls to resign over a perceived lacklustre campaign to stay in the European Union, which resulted in many Labour voters choosing to leave. There is disagreement within the party about whether Mr Corbyn would automatically be entitled to a place on the ballot.

“The negotiations must take place in a businesslike, good climate”, she said. While others realised it’s the little things that they’d miss.. The Leave campaign has faced accusations that it encouraged hostility towards immigrants. Membership in Europe had the United Kingdom experiencing a surge in immigration that saw the number of foreign-born citizens increase from nearly two million to over five million. A desire to control immigration was a major force behind the “leave” campaign, so it’s unclear if such an agreement could ever be reached.

This will be the first time this article will be used, and indeed, tested as the only other country to exit the EU was Greenland back in 1982, when the EU was known as the European Economic Community (EEC).

In an early sign of the Brexit fallout in Brussels, Britain’s European commissioner for financial services, Jonathan Hill, said he would stand down.

Britons living in European countries at some point could find themselves in limbo over whether they will have a reciprocal healthcare provision, which generally is free from national health services in Europe; the right to travel and live in EU countries without visas and permits; and when they will need to join the “Non-EU” immigration queues at airports and stations.