According The BBC, UK votes in favor of Brexit, 52% to leave against 48% to remain.
The British Exit, which has been aptly shortened to “Brexit,” is a vote for the UK to leave the European Union. It’s a referendum meaning everyone (nearly) of voting age can participate.
This is a follow up to a promise that Prime Minister David Cameron made when running for the recent general election. It’s mostly considered a response to growing conservative pressure from the UK Independence Party.
The economic repercussions of the British referendum have already begun. According to CNN, the British pound is down 11%, FTSE futures are down 7%, oil is down 6%, and S&P futures are down 4.3%. The Euro has also begun to fall against the dollar.
There has been a clear division within the United Kingdom with the majority of Scotland and Northern Ireland voting to remain while the majority of England and Wales voted to leave.
What happens next is unclear. Many people want to know if the Prime Minister will resign.