All of the votes have been counted. 51.9% of the votes were for “leave”.
Donald Tusk, President of the European Council, said in an announcement, that EU law will continue to apply to the UK until the nation formally leaves the club, including rules on free movement of people.
David Cameron said in a speech that he’d like to assure British citizens abroad and EU citizens in the UK that there would be no immediate changes. He also announced his resignation and said he wants a new prime minister in place by October.
The Swiss foreign office said: “Although the electorate of the United Kingdom has voted to leave the European Union, current regulations regarding Swiss citizens and companies remain applicable for the time being and nothing will change immediately. Swiss citizens can contact the FDFA Helpline if they have questions about how this issue may affect them.”
In the markets, the pound dropped as low as 1.32 US dollars, 1.20 Euros and 1.29 Swiss francs according to Reuters. By around 9:00 am the pound had moved from these lows to 1.37 US dollars, 1.24 Euros and 1.33 Swiss francs. The euro Swiss franc rate was at 1.06 at one point and by around 9:00 am was at 1.08. IG Bank in Switzerland said: “The SNB is probably intervening in the FX market to prevent a sharper strengthening of the franc.”
10 minutes after the UK markets opened the FTSE 100 was down around 8%. By 10:00 am it was down by around 5%.
Politicians in other countries are calling for similar referenda in their countries.
In France, Marine Le Pen Tweeted: “Victory and liberty! As I have demanded for years, we need to have the same referendum in France and in other EU countries.”
Victoire de la liberté ! Comme je le demande depuis des années, il faut maintenant le même référendum en France et dans les pays de l’UE MLP
— Marine Le Pen (@MLP_officiel) June 24, 2016