A political earthquake is shaking up an economic and ideological firestorm in the United Kingdom. Brexit a referendum to leave the European Union was passed by a majority vote of 51.9% leading to some devastating consequences. The decision has led to British Leaders to resign, to the pound plummeting in value, and the UK could dissolve as Scotland is preparing a referendum to leave.
This upset is being called one of the country’s largest political changes ever. Prime Minister Cameron campaigned to stay in the EU but with the country changing direction he has decided to resign. Early this morning he met with media for a brief press conference to announce this
“The British people have voted to leave the EU and their will must be respected,” Cameron said. “The country requires fresh leadership to take it in this direction” He added.
With tears in his eyes he also said “I love this country and I feel honored to have served it and will do everything I can in the future to help this great country succeed.”
Leaders of Brexit are looking likely to take over the Prime Minister’s seat in October when Cameron has announced that will be the end of his term. Former London Mayor Boris Johnson is a likely contender for the position, he is also a leading Brexit campaigner. This Morning he said the European Union was “a noble idea for its time”, he added that it was “no longer right for this country.”
He continued: “I believe we now have a glorious opportunity – we can pass our laws and set our taxes entirely to the needs of the UK economy.”
“We can control our borders in a way that is not discriminatory, but fair and balanced and take the wind out of the sails of the extremists and those who would play politics with immigration.
“Above all, we can find our voice in the world again… powerful, liberal, humane, and extraordinary force for good in the world.”
Later that morning the Labor Party which is one of the largest political parties in the UK, pushed for a vote of no confidence toward party leader Jeremy Corbyn. The reason? The party said he came out too slowly, and he was very half-hearted about his campaigning to keep the UK in the EU. Margaret Hodge told media that Corbyn “failed” the test of leadership. Corbyn has been told to do “the decent thing” and resign from his position.
Scotland which was in favor of staying in the EU by a majority is now calling for an independence referendum to separate from the UK. First Minister Nicola Sturgeon announced that it is democratically unacceptable for Scotland to be taken out of the EU against its will. All 32 districts in Scotland overwhelmingly voted to stay in the EU. She said it is more than likely that in the coming days there could be a vote to leave the UK.
After Brexit passed the FTSE 100 index started the day by falling more than 8%. Banks were hit the hardest with some falling 30%. The British pound fell dramatically down to $1.3236 which had a fall more than 10%. A fall that has not been seen since 1985.
The Nation will be facing the fallout for months to come. Without leadership and with the potential of Scotland leaving we could see borders change and a division that could lead the UK to collapse.