European Parliament urges Britain to begin EU exit Tuesday

Others are certainly reaching for the matchsticks.

Numerous Leave voters have since revealed their regret over the shock referendum result following the dramatic resignation of David Cameron and volatility in financial markets.

To begin the withdrawal process, Britain must invoke Article 50 of the EU’s Lisbon treaty, which has never been used before.

While the Brexit (a portmanteau of “British exit”) vote had some immediate consequences – for example, the pound’s value plunged and markets dropped precipitously; other countries’ politicians called for similar referendums; UK Prime Minister David Cameron resigned – it will take time to see the full effects of Britain’s decision.

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The slim 52-48 margin for the vote is supported by the fact that 72 percent of surveyed Britons cast their vote with confidence.

Critics immediately sniped at the British government for dragging its feet after voting to run off, with some suggesting there was a strategy to delay the exit.

“On Mr. Cameron’s impending visit, Mr. Schulz said: “…we expect the British government to deliver.

Seven major automakers-VW Group, Toyota, GM, Ford, Nissan, Honda, and BMW-have design, engineering, or manufacturing plants in the U.K. According to figures released by the U.K. automotive industry body, the Society of Motor Manufacturers and Traders, total production of British-made vehicles last year reached nearly 1.6 million units, a 10-year high and a 3.9 percent increase on 2014.

After four months of campaigning and a huge 72 percent turnout in yesterday’s vote, the British people chose to end more than 40 years of partnership with the world’s biggest and richest trading bloc. And he warned that the United Kingdom would “be in the back of the queue on any future trade agreements”. The Conservatives are facing a leadership battle to replace Cameron, and some members of the opposition Labour Party also hope to oust their leader, Jeremy Corbyn, who they accuse of failing to promote the “remain” side strongly enough. Earlier today, Ms Sturgeon said she and her colleagues would begin talking to Brussels officials next week about Scotland remaining in the EU.

It was on a knife edge as the nation went to bed but the Leave party pulled ahead to take the win, eight hours after the polling booths closed. The EU will have 27 members when Britain leaves, a process that will take at least two years.


“The British vote poses a grave test for Europe, which must show solidity and strength in its response to the economic and financial risks”, Mr Hollande said after meeting with his cabinet.

A referendum results party at a pub in London on Thursday evening