Experts believe that if pound continues its downward slide, more and more people are likely to travel to the UK.
Britain is expected to submit an application to leave the European Union following Thursday's referendum, after which it would have two years to negotiate an exit. Below are possible consequences for Britain and the EU of a Brexit.
Read the Prime Minister's full statement following the result of the EU referendum https://t.co/CHhL1YvdJs
- UK Prime Minister (@Number10gov) June 24, 2016
Former London mayor and leading Brexit campaigner Boris Johnson is the favourite to succeed David Cameron as Prime Minister, bookmaker Ladbrokes said in a statement today.
European Parliament President Martin Schulz says Britain's exit from the EU must be done quickly. His official handle then tweeted:
For 40 yrs #UK relation with #EU was ambiguous. Now it's clear. Will of voters must be respected. Now need speedy & clear exit negotiation
- EP President (@EP_President) June 24, 2016
Prime Minister David Cameron says he is not the 'captain' that will steer the country through negotiations
He says he will resign by the time of the Conservative party conference in the fall.
British stocks are plunging as the market opens as investors scramble to react to the news. The pound has hit a 31-year low.
(Reuters Photo)
I would do everything I can to make this country more successful, says British PM.
Although I will try to steady this ship, I think we should have a new UK PM by October, says David Cameron, UK PM pic.twitter.com/zpAurycss8
- ANI (@ANI_news) June 24, 2016
I would like reassure the people across the world that Britain's economy is fundamentally strong.
British people have decided to leave the European Union and their decision should be respected.
US President Barack Obama is expected to speak to British Prime Minister David Cameron today following Britain's vote to leave the European Union, the White House said.
I will also propose to leaders that we start a wider reflection on the future of our Union #euco pic.twitter.com/hi8BnwSBqm
- Donald Tusk (@eucopresident) June 24, 2016
Meanwhile reporters at 10 Downing Street were welcomed by Larry The Cat, official resident cat of the British Prime Minister.
(AP Photo)
The president of the European Parliament says he expects negotiations on Britain's exit from the European Union to start quickly.
Martin Schulz told Germany's ZDF television Friday that he expects British Prime Minister David Cameron to invoke Article 50 of the EU treaty, which would set in motion the exit process.
June 23rd must now be made a national holiday. #IndependenceDay pic.twitter.com/Aj7mEjPTnR
- Nigel Farage (@Nigel_Farage) June 24, 2016
The final result showed 17.4 million people had voted "Leave" and 16.1 million people had voted "Remain" in the EU membership referendum.
David Cameron "remains prime minister and will carry out the instructions of the British people" says British Secretary of state, Philip Hammond.
We have done it! #IndependenceDayhttps://t.co/C96aoqlnpM
- Nigel Farage (@Nigel_Farage) June 24, 2016
I don't think I've ever wanted magic more. https://t.co/gVNQ0PYIMT
- J.K. Rowling (@jk_rowling) June 24, 2016
Britons voted in a referendum today to leave the European Union. Read on to know what happens now
#BREAKING: Bank of Japan 'ready' to supply liquidity to limit market impact of Brexit
- AFP news agency (@AFP) June 24, 2016
We've got our country back. Thanks to all of you. #IndependenceDay
- Nigel Farage (@Nigel_Farage) June 24, 2016
LEAVE: 52%
REMAIN: 48%
#BREAKING: Britain votes to leave EU: BBC forecast
- AFP news agency (@AFP) June 24, 2016
I now dare to dream that the dawn is coming up on an independent United Kingdom.
- Nigel Farage (@Nigel_Farage) June 24, 2016
#Brexit vote - Remain on 8.392 million votes, leave on 8.811 million after more than 17 million votes counted - ITV #EURefResults
- Reuters India (@ReutersIndia) June 24, 2016
With results declared from 206 of 382 voting districts plus parts of Northern Ireland, Leave was ahead by 51.3 percent to 48.7 in the referendum, in which a vote to break with Europe could usher in deep uncertainty over trade and investment and fuel the rise of anti-EU movements across the continent.
(Reuters Photo)
#Brexit vote - Remain on 48.7 pct, leave on 51.3 pct after 171 of 382 counting areas plus BBC Northern Irish figures - Reuters calculation
- Reuters India (@ReutersIndia) June 24, 2016
Early results show England and Wales giving an inclination in favour of Brexit, a term used by the 'leave' camp reports BBC
BBC .
#Brexit vote - Remain on 48.9 pct, leave on 51.1 pct after 150 of 382 counting areas plus BBC Northern Irish figures - Reuters calculation
- Reuters India (@ReutersIndia) June 24, 2016