LET (BRITISH) FREEDOM RING: UK Gives Middle Finger to the Elites, Exits European Union

By BBC. Prime Minister David Cameron is to step down by October after the UK voted to leave the European Union.

Speaking outside 10 Downing Street, he said he would attempt to “steady the ship” over the coming weeks and months but that “fresh leadership” was needed.

The PM had urged the country to vote Remain but was defeated by 52% to 48% despite London, Scotland and Northern Ireland backing staying in.

UKIP leader Nigel Farage hailed it as the UK’s “independence day”.

The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results. (Read more from “Let (British) Freedom Ring: UK Gives Middle Finger to the Elites, Exits European Union” HERE)

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Brexit Upends Global Markets as Stocks, Pound Plunge; Yen Soars

By James Regan and Stephen Kirkland. Global markets buckled as Britain’s vote to leave the European Union drove the pound to the lowest in more than 30 years and European banks to their steepest losses on record.

“It’s scary, and I’ve never seen anything like it,” said James Butterfill, 41, head of research and investments at ETF Securities in London. “A lot of people were caught out, and many investors will lose a lot of money.”

Sterling slid by the most on record and European stocks headed for the biggest drop since 2008 as trading soared. The yen strengthened past 100 per dollar for the first time since 2013, gold rose the most in more than seven years and benchmark Treasury yields had their biggest drop since 2009.

The victory for the “Leave” campaign prompted Prime Minister David Cameron to resign. The outcome stunned many investors who’d put wagers on riskier assets over the past week as bookmakers’ odds suggested the chance of a so-called Brexit was less than one in four. (Read more from “Brexit Upends Global Markets as Stocks, Pound Plunge; Yen Soars” HERE)

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Britain Has Voted to Leave the EU – What Happens Next?

By Patrick Wintour. The UK’s historic decision to end its 43-year love-hate relationship with the European Union represents a turning point in British history to rank alongside the two world wars of the 20th century.

On the assumption there is no turning back, or collective buyer’s remorse, Britain will live with the political, constitutional, diplomatic and economic consequences for a decade or more . . .

So what happens next? . . .

The scale of the destruction wrought by independence day is such that one of the last redoubts of the establishment left standing – the civil service led by the cabinet secretary Sir Jeremy Heywood – will now take centre stage.

It will be his task, in conjunction with the governor of the Bank of England, Mark Carney, and David Cameron acting as a caretaker prime minister to bring a semblance of shape to the chaos that is likely to ensue. (Read more from “Britain Has Voted to Leave the EU – What Happens Next?” please click HERE)

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