Britain Votes To Leave EU

Brexit vote has been counted and Britain has has voted to leave the European Union.

From the New York Times:

Britain has voted to leave the European Union, a historic decision sure to reshape the nation’s place in the world, rattle the Continent and rock political establishments throughout the West.

With 309 of 382 of the country’s cities and towns reporting early on Friday, the Leave campaign held a 52 percent to 48 percent lead. The BBC called the race for the Leave campaign shortly before 4:45 a.m., with 13.1 million votes having been counted in favor of leaving and 12.2 million in favor of remaining.

The value of the British pound dropped to a 31 year low as financial markets absorbed the news.

World stock markets fell dramatically, including the Dow Jones Industrial Average which fell 500 points upon opening today.

Prime Minister David Cameron has resigned over the news saying Britain needs “fresh leadership.”

Scotland is now looking at a new referendum on independence from Britain in light of the decision to leave the EU. Scotland, as a whole, voted 62% – 38% to stay in the EU.