Prime Minister of Great Britain Resigns
David Cameron has resigned as Prime Minister after Britain voted to leave the European Union.
It has been over three years since David Cameron revealed his plan to reform Europe, and Great Britain and put it to a referendum. However an unexpected decision has shocked the British People, the country has voted to leave the European Union. Prompting Prime Minister David Cameron to resign. http://www.telegraph.co.uk/news/2016/06/24/britain-votes-to-leave-the-eu-what-happens-now-that-brexit-is-a/
What happens now the UK has voted Brexit – and what is Article 50?
Prime Minister David Cameron resigned this morning, stating that he thinks Britain should have a new Prime Minister in place by the start of the Conservative conference in October. Article 50 establishes the procedures for a member state to withdraw from the European Union. It requires the member state to notify the EU of its withdrawal and obliges the EU to then attempt to negotiate a withdrawal agreement with that state. Mr. Cameron will leave the task of initiating Article 50 to the next Prime Minister that will take his place.
Shock and AWE
In London, the decision resulting from the startling vote to leave the European Union (EU) has shaken the financial markets and threatened to weaken the already massively suppressed countries of Europe. In just one night, this single event has changed and reshaped Britain’s political structure as the country prepares for Prime Minister Cameron to step down. His successor will have big shoes to fill. After all of the voting sectors were counted early this Friday morning. The count came in and the Leave defeated the Remain 51.9% to 48.1%, in a decision that will forever affect the future of Europe’s economy and the ties of the United Kingdom with the European Union after more than 43 years together. Britain’s currency the British Pound fell more than 11% to its lowest point since 1985 and the outcome initiated sharp drops in stock markets and a transition into safe assets such as gold and government bonds. The economic future of Britain or the European Union is uncertain, the next few weeks will certainly be telling times as of the new direction taken from a long history of Britain and the EU. The process of leaving the EU will take years or perhaps decades.
From The BBC
The Vote for Brexit is not legally binding, and there are a few ways it could theoretically be overturned, or outright denied and blocked. The news source from the BBC notes, “It would be seen as political suicide to go against the will of the people as expressed in a referendum.”So what’s next fro the already troubled economy of the EU. The next few weeks will be a certain time in history for all to remember.