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Parliament votes to seize control of Brexit process
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While America slept and Asia worked, the shape of Europe changed.
UK voters decided they wanted out of the European Union, triggering international shock and concern. World markets switched to crisis mode, with the Dow plunging more than 600 points Friday and the value of the pound falling to a 30-year-low.
So who’s going to lead Britain now? Although nothing is set in stone, former London Mayor Boris Johnson is a serious contender to succeed Cameron.
Brexit vote results create turmoil in Britain:Four senior opposition Labour Party members of Parliament resigned from Labour’s shadow Cabinet and a fifth was sacked in the wake of Thursday’s referendum and they’re calling for new leadership but party leader Jeremy Corbyn won’t resign.
Petition calling for second EU vote:More than 3 million people signed an online petition calling for a second referendum on whether Britain should leave the EU. Coincidentally, its creator has sought to distance himself from the petition because he is a Leave voter.
Markets are hemorrhaging:Stocks across the globe got hammered amid the panic. Both the pound (now at its lowest level since 1985) and the euro have plunged.
Here’s why it matters:The UK is the world’s fifth biggest economy and any slowdown will hurt the anemic global growth.
What does the decision mean for Europe? The UK is the first to leave the European Union, and experts say its exit will be sorely felt by the rest of the EU.