David Cameron resigns as UK Prime Minister after shock result for Britain to leave Europe
BRITAIN’S youth have taken to Twitter to share their regret at the decision to leave the European Union using the hashtag #notmyvote.
Cameron to leave as Prime Minister by October
Pound falls to lowest level in 30 years
Bank of England ready with £250 billion war chest
Farage tips Netherlands, Denmark, Sweden to leave EU
Scotland FM says independence vote ‘on the table’
Johnson denies 'pulling up drawbridge’ to Europe
BRITAIN’S youth have taken to Twitter to share their regret at the decision to leave the European Union using the hashtag #notmyvote.
The 52 to 48 per cent decision in favour of leaving the EU defied pollsters, bookies and market expectations on Friday, forcing Prime Minister David Cameron to resign and financial markets to shed billions of dollars.
It's also led to huge question marks over issues like visa-free travel in the eurozone, passports, house prices and reciprocal healthcare that could take months to work out.
Voting results showed the country deeply divided with 16.1 million people mainly in London, Scotland and Northern Ireland voting in favour of Remain. Meanwhile 17.4 million others throughout the rest of the country voted in favour of Leave with a total turnout of more than 70 per cent.
For young people, the result is a bitter pill to swallow. YouGov figures show 18-24 year olds voted overwhelmingly in favour of Remain at 75 per cent to 25 per cent who wanted to Leave.
The majority of those aged 25 to 49 also wanted to stay, at 59 per cent compared to 44 per cent of those who wanted to part ways.
Those figures were reversed for people between 50 and 64 of whom 44 per cent said Remain and 56 per cent Leave. For those aged over 65, it was a 61 per cent vote for Leave and 39 per cent for Remain.
The statistics are particularly pertinent given that 16 and 17-year-olds were excluded from voting in the referendum that occurred for the first time in 43 years.
That’s at odds with the situation in the Scottish referendum and has attracted cricisim for blocking their vote on something that will likely affect them for most of their working lives.
Liberal Democrats leader Tim Farron said: “Young people voted to remain by a considerable margin, but were outvoted. They were voting for their future, yet it has been taken from them.”
Young people took to Twitter to share their displeasure with some calling for a second referendum and crashing the government petition website to demand one. Others chided them for not accepting the result on the day.
#notmyvote voting age should have been lowered to 16, it's OUR future its going to effect most, so give US the fair vote.
— Ë—ËË‹stephËŽËŠË— (@stephgholmes) June 24, 2016
#notmyvote I turn 18 in 9 months, but apparently 90 year olds were more qualified to decide my future.
— Becky (@giveemhelllkid) June 24, 2016
the most annoying this is that I'm 18 in less than 4 months and old people are deciding my future #notmyvote
— rachel (@Mockingrachel) June 24, 2016
@busricaandco https://t.co/bNqnaQakwT I mean... #notmyvote
— Rita Rodwell (@ritarodwell) June 24, 2016
Anyone using #notmyvote - put your money where your mouth is and move to one of the 27 EU member states. You won't. All mouth, no conviction
— Hasbro Andre (@HasbroAndre) June 24, 2016
Sick of the abuse to the older vote. 65 years may still have 20, 25, 30 years life left. Not dead yet!! #notmyvote
— denisewallis (@wallis1953) June 24, 2016
Remainers should be ashamed. UK war veterans gave their lives for democracy and now they won't accept ref. result. How shameful. #notmyvote
— Bradley Ayres (@BradleyRAyres) June 24, 2016
Chatham House Director, Dr Robin Niblett said the challenge now for the Leave campaign is to address the “yawning gap” that could emerge between rhetoric and the reality of life outside the European Union.
“This will not be easy. Blaming the EU for all of Britain’s ills has been pure displacement activity. Contrary to some of the rhetoric, the EU has not hogtied the UK in regulation and has not drained funds from the Exchequer,” he said.
BREXODUS BEGINS?
Brits are now grappling with a series of questions over how the new political landscape will affect them.
While leaders have been at pains to stress nothing will change in the short term, reports have already emerged of job losses and price rises that could affect life for millions of people.
Banking giant Morgan Stanley denied it will move 2000 staff out of London offices to Dublin or Frankfurt. It follows warnings from JP Morgan and Morgan Stanley that up to 10,000 jobs could be shifted to the EU in the event of a Brexit.
On Friday, Australia’s Commonwealth Bank suspended its currency trading services for those wanting to exchange dollars into pounds triggering outrage from many online who could not access their cash.
Sources at Morgan Stanley tell BBC it's already begun process of moving 2,000 London based investment banking staff to Dublin or Frankfurt
— Ben Thompson (@BBCBenThompson) June 24, 2016
@jo_mackson Hi! Due to results from the British exit referendum we're suspending foreign exchange of GBP pound until further notice. (1/2)
— CommBank (@CommBank) June 24, 2016
There are also huge questions about what it could mean for travel, holiday prices and passports.
At present UK passport holders have access to 175 countries with a visa-on-arrival service. Nearly 1.3 million Brits living in Europe could also face changes after the pound fell to its lowest level in 30 years.
The UK government has already warned citizens who enjoy reciprocal healthcare and other rights abroad they “would not be able to assume that these rights will be guaranteed” in the event of a Brexit.
Irish voters struggled to come to terms with the fact land borders could go back up between Northern Ireland and the Republic of Ireland. ‘How to get an Irish passport?’ was one of the most Googled questions in the UK following the results.
The questions followed an extraordinary day in UK politics in which:
• UK Prime Minister David Cameron said he would resign by October
• Vote Leave leaders called for unity after a bitter campaign
• Scotland’s Nicola Sturgeon said a Scottish independence vote is ‘on the table’
• Fears emerged Brexit could spark breakup of European Union
• Londoners reacted with shock to the news
• Aussies wondered what it meant for their UK passports
• Twitter users saw the funny side
• Labour leader Jeremy Corbyn faced a no-confidence motion
• Donald Trump hailed the result as “fantastic”
• Aussies were stranded overseas without cash as CBA suspended trading
• France’s darling of the far-right called for ‘Frexit’
CAMERON RESIGNS IN SHOCK MOVE
Vote Leave’s Boris Johnson and Michael Gove paid tribute to Prime Minister David Cameron after his resignation following the shock referendum result.
Former London Mayor Mr Johnson said Mr Cameron is “one of the most extraordinary politicians of our age ... who has given superb leadership of party and country.”
Earlier, the Prime Minister, who had spearheaded the Remain camp in the lead up to the EU vote, announced he would stay on as caretaker until the Conservative Party conference in October when a new leader would be chosen.
That person, widely tipped to be Johnson, will face the immediate challenge of negotiating Britain’s withdrawal from the EU by triggering Article 50 of the Lisbon Treaty.
On Friday morning Mr Cameron said he had not shied away from giving the country the power to make such an important decision.
“I will do everything I can as Prime Minister to steady the ship but I do not think it would be right for me to try to be the captain that steers our country to its next destination,” he said.
“I love this country and I feel honoured to have served it and I will do everything I can in future to help this great country succeed.”
UK Leaders including Mr Cameron, Mr Johnson and Bank of England Governor Mark Carney stressed stability on Friday — saying there would be no change to the movement of people, goods or services in the short term.
Mr Carney revealed the Bank had a £250 billion war chest to keep financial markets liquid in a bid to avoid a repeat of the 2008 volatility.
Markets in the UK and Europe went into free fall on Friday with billions wiped from banking and housing shares after the referendum result defied market expectations.
“We are well prepared for this," Mr Carney said. “We will not hesitate to take any additional measures required.”
OBAMA SAYS UK, EU REMAIN ‘INDISPENSABLE PARNTERS’
President Obama said the UK and US will maintain their “special relationship” following the result some have likened to a divorce.
He said both the UK and EU will remain “indispensable partners” to the US through the NATO alliance which is a “vital cornerstone of US foreign, security and economic policy.”
“The United Kingdom and the European Union will remain indispensable partners of the United States†—@POTUS pic.twitter.com/gI76eRleD0
— The White House (@WhiteHouse) June 24, 2016
CORBYN COULD FACE LEADERSHIP CHALLENGE
Not content to sit back and watch the Conservatives tear themselves apart, Labour leader Jeremy Corbyn is also at risk after two of his MPs submitted a no-confidence motion.
Margaret Hodge made the move on Friday backed by Ann Coffey, calling for a debate on his leadership next Monday which will see a secret ballot and potentially, a leadership challenge.
Corbyn has been divisive for the party after he was surprisingly elected last year amid huge support from the Labour base. He has been subject to major criticism during the EU referendum campaign for failing to rally Labour voters.
“I will say to people, you can win the election or you can have Corbyn as leader but you can’t have both.” Coffey said.
JOHNSON DENIES ‘PULLING UP THE DRAWBRIDGE’
Mr Johnson paid tribute to Mr Cameron after the vote and said it was vital to stress “there is no need for haste” in terms of unwinding the UK’s relationship with the European Union.
He also sought to knit the country back together after a bitter and divisive campaign that has centred around immigration.
“This does not mean the UK will be any less united, nor indeed that it will be any less European,” he said.
“We cannot turn our backs on Europe, we are part of Europe.”
“Young people can look forward to a more secure and more prosperous future if we take back the democratic control that is the foundation of our prosperity.”
Justice Secretary Michael Gove said the country was embarking on a “new chapter but one in line with our best traditions.”
“We can build a new stronger, and more positive relationship with Europen leaders based on free trade.”
Scotland’s First Minister Nicola Sturgeon said a second independence vote would be “on the table” after Britain voted to leave but Scots opted to stay in.
“The option of a second referendum must be on the table and it is on the table,” she said.
‘SUN HAS RISEN ON INDEPENDENT BRITAIN’
UK Independence Party leader Nigel Farage said “the sun has risen on an independent Britain” and he hoped the Brexit vote would unravel the entire European Union.
Speaking as Brits woke to the news of the shock result that saw 17.4 million votes to leave and 16.1 million votes to remain, the right-wing politician said it could trigger similar moves in the Netherlands, Denmark, Sweden, Austria and Italy.
“We may well be close perhaps to Nexit ... we could be quite close to Dexit,” he said of the Netherlands and Denmark.
“The EU is failing, the EU is dying, I hope we’ve knocked the first brick out of the wall. I hope this is the first step towards a Europe of sovereign nation states.”
He also called the result a “victory for ordinary people” against big business and political elites.
Sky News political editor Faisal Islam said Mr Farage “may well go down as the most important politician in the last 30 years” having soared from a relative unknown to being at the centre of a large win within a few short years.
However he was also slammed for a victory speech in which he claimed to have won “without having to fight, without a single bullet being fired,” after a bitter and divisive campaign during which Labour MP Jo Cox was tragically killed.
TRUMP HAILS BREXIT AS ‘GREAT THING’
Donald Trumpsaid the Brexit result is “fantastic” and a “great thing” that the UK has “taken back control” of the country as he arrived at his golf course in Scotland.
The US presidential hopeful touched down Friday morning to find the country reeling from the result. Scotland voted to remain part of Europe however it wasn’t enough to swing the final result.
TUSK REACTS AND TURNBULL REASSURES AUSSIES
European Council President Donald Tusk has offered the leaders of 27 countries of the European Union a meeting on the sidelines of the European summit to discuss what the move means in the first sign of UK exclusion.
He said he was “fully aware” of the historic significance of the result but “what doesn’t kill you makes you stronger”.
“I want to reassure everyone that we are also prepared for this negative scenario ... For all of us, the union is the framework for our common future,” he said in a statement designed to allay fears about the breakup of the union.
Meanwhile, Australian Prime Minister Malcolm Turnbull said he was sure the UK relationship with the UK would stay “very strong and intimate” and not affect free-trade negotiations with the EU.
“I have no doubt ... that our very strong and intimate relations with the United Kingdom will be entirely unaffected,” he said.
“There is no cause for Australians to be alarmed.”
STERLING ‘FALLEN OFF A CLIFF’
The pound collapsed to a 31-year-low against the US dollar and fuelled a wave of global uncertainty on Friday with the London FTSE dropping five per cent.
ETX Capital head of sales trading David Papier said financial markets have seen “carnage”.
“It’s a madhouse in here. It has been a bloodbath,” he said.
UniCredit Research economist Daniel Vernazza said the vote against economic warnings has sent “shock waves” through the global economy.
The result was a shock to traders after they had been pricing in a vote to Remain.
“Leave’s victory has delivered one of the biggest market shocks of all time,” said Joe Rundle, head of trading at ETX Capital.
AlixPartners market lead Eric Benedict said the result has been a “complete surprise” to clients with many now looking to put contingency plans in place.
“So far, we are seeing a considered response to the outcome, with a clear acceptance of a prolonged period of uncertainty.”
“From a business point of view, many sectors will be nervous but for others there’s plenty of reason to be optimistic, with exporters and the tourism industry likely to be net beneficiaries.”
British PM’s $12k Swiftie blunder
The UK Prime Minster has paid back nearly $12,000 worth of gifts, including Taylor Swift concert tickets, following a row over donations.
Woman filmed falling to death on night out
A woman’s last moments have been captured in an eerie video showing her singing with her friend before falling to her death on a night out.
’Iceman’ lashes out over violence claims
Multiple family members have claimed more than a decade of physical and verbal abuse at the hands of Dutch wellness guru Wim Hof.