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Great Britain — Early Friday morning it had become clear that the United Kingdom (UK) voted to leave the European Union, and Prime Minister David Cameron — who supported the “stay” movement — said he did not think it would be right for him to try to be the captain that steers this country to its next destination, and he resigned.
Former London Mayor Boris Johnson hailed the vote as a “glorious opportunity” and derided the EU as an outdated form of government that did not exist anywhere else on earth,
Johnson said the UK can now reestablish itself on the world stage “and find our voice in the world again.”
As politics reacted to the shakeup, Jeremy Corbyn, Labour Party head, rejected a no confidence vote and refused to resign.
Across the pond Wall Street took a plunge as soon as it opened this morning. Altogether the Dow closed more than 600 points down. The Standard & Poors 500 dropped 58.49 points as the markets opened this morning.
Reacting to the global fiscal shock, the dollar rose by 3 percent — the most in one day since 1978, and gold rose to a two-year high of 1,000 pounds per ounce.
The Federal Reserve has warned that Brexit could have consequences for the U.S. economy.
With 100 per cent of the vote reporting, the Brexit movement won with 51.9 per cent of the vote or 17,410,742 votes to 48.1 per cent of the vote in favor of remaining in the EU 16,141,241 votes. Brexit was favored by voters in England Wales. However, it was opposed by voters in Northern Island and strongly opposed by voters in Scotland.
Some of this material was taken from The Telegraph.