Prime Minister David Cameron announces plan to resign
The people of Great Britain have cast their ballots in the June 2016 referendum. On June 23, approximately 52 per cent of British citizens eligible to cast a ballot voted to leave the European Union (EU).
The results arrived after weeks of intense politicking and campaigning from both sides of the referendum, as well as a Thursday filled with high emotions, mixed feelings, and fluctuating global markets.
Pollsters, bookies, and pundits alike believed that Britain would vote to remain part of the EU, but a margin of approximately 1.3 million voters ensured the “Leave” side’s victory.
Over the course of the day, the British pound witnessed significant fluctuations, before finally settling at approximately $1.37 US, after the final votes were tallied. The pound continues to see some of its weakest levels in over three decades, according to the Telegraph.
While the official results of the referendum have been tallied, the EU—and the world—waits with baited breath as the next steps in the withdrawal process begin.
Britain’s government must now submit an official request to withdraw from the EU, as per existing EU legislation.
EU leaders will then begin a lengthy process in which the union will establish firm legislation outlining its new relationship with Britain.
Prime Minister Cameron, however, will not be at the negotiating table. He announced his resignation on June 24, at 10 a.m. local time.
“I was absolutely clear about my belief that Britain is stronger, safer, and better off inside the EU,” said Prime Minister Cameron, in a press conference held outside 10 Downing Street. “I made clear the referendum was about this, and this alone—not the future of any single politician, including myself.”
“But the British people made a different decision to take a different path. As such, I think the country requires fresh leadership to take it in this direction.”
Citizens on the “Remain” side took to social media to defend their leader, arguing that it is now Prime Minister Cameron’s responsibility to clean up the nation.
The referendum came as a result of growing dismay regarding Britain’s place in the EU. Arguments were made criticizing the EU’s stance on immigration, as well as wide-reaching legislation that affects its entire membership.
One of Prime Minister Cameron’s running points during the most recent British general election, held in 2015, included a platform emphasizing a referendum to determine Britain’s place in the EU.
After securing his party’s leadership, Prime Minister Cameron made good on his promise. However, Prime Minister Cameron firmly—and publicly—opposed Britain’s departure.
At the same time, members of his Conservative party actively spoke against their leader’s position, campaigning in favour of Britain’s withdrawal from the EU.
Leaders of the EU’s member nations, as well as Britain’s overseas allies—including the United States—voiced their opposition to the potential withdrawal.
In an April 2016 visit to the United Kingdom, President Barack Obama said that Britain’s trading prospects would go “to the back of the queue” if Britain were to leave the EU, according to the Guardian.
“I’ve not come here to fix a vote, I’m offering my opinion,” said President Obama on April 22, 2016. “You should not be afraid to hear an argument being made.”
However, in a statement delivered on June 24, President Obama emphasized that the “special relationship between the United States and the U.K. is enduring.”
Likewise, Prime Minister Justin Trudeau assured that the United Kingdom. and the EU remain “important strategic partners” for Canada.
Regardless, some politicians, including Nigel Farage—the leader of the anti-EU U.K. Independence Party—are celebrating the results of the 2016 referendum.
“Dare to dream that the dawn is breaking on an independent United Kingdom,” said Farage in a speech delivered a few hours after the final results were tallied, as reported by the Independent. “We have fought against the multinationals, we have fought against the big merchant banks, we have fought against big politics, we have fought against lies, corruption, and deceit.”
Global markets remain in flux.