According to results from Thursday’s historic referendum, Britain has voted to leave the European Union.
The votes in favor of exiting the EU were 52 percent to 48 percent. Sterling slumped in a single day by as much as 9 percent; reaching the lowest in almost thirty years. The decision is being feared to massively affect investment.
According to BBC, the number of people coming out to vote on the referendum was greater than the general elections of last year.
UKIP leader Nigel Farage has been calling for Britain to leave the EU for the last 20 years. “This will be a victory for ordinary people, for decent people,” he said while addressing his supporters. He said that the day, June 23, will “go down in history as our independence day.” At the start of the polling, Farage had predicted that people would be in favor of a Remain vote.
Meanwhile, Labour former Europe Minister Keith Vaz said people had cast their ballots based on their “emotions.” He added the voters had not paid heed to the warning given by experts who claimed that leaving EU could significantly impact the economy.
“It will be catastrophic for our country, for the rest of Europe and for the rest of the world,” Vaz said.
Almost 90 percent of the voting had been counted by 4:20 GMT; the results revealed the Leave vote was way ahead of Remain.
Scotland, on the other hand, voted in majority to remain in the EU. With 62 percent in favor of Remain, it will push for a new referendum as to whether it would become independent following its 2014 vote to remain in the United Kingdom.
According to Scottish First Minister Nicola Sturgeon, the vote “makes clear that the people of Scotland see their future as part of the European Union.”
President Barack Obama, Chinese President Xi Jinping, German Chancellor Angela Merkel, NATO and Commonwealth governments had called for Britain to go with a Remain vote, emphasizing that staying in the EU would make it stronger and more influential, as reported by Reuters.
With the decision to leave the EU, Britain would be the first country to exit the union. Nevertheless, the process of not being a member of EU could take at least two years.