Britain Prime Minister To Step Down After Vote to Leave EU

Britain Prime Minister To Step Down After Vote to Leave EU

"I was absolutely clear about my belief that Britain is stronger, safer and better off inside the European Union, and I made clear the referendum was about this and this alone – not the future of any single politician, including myself," Cameron said in a speech Friday addressing the nations after a vote to leave the European Union.

The Financial Times is reporting a dramatic impact this vote will have on financial markets, "But many investors fear a dire outcome for British banks. Davide Serra, head of bank-focused investment fund Algebris, said: “The UK will have a 6 per cent GDP recession. So it’s very bad. That’s what Italy had — you will be talking about non-performing loans in the UK soon.”

"But the British people have made a very clear decision to take a different path, and as such I think the country requires fresh leadership to take it in this direction," Prime Minister Cameron continued.

The Washngton Post has called the decision on the British to leave the EU "stunning," 

"British voters have defied the will of their leaders, foreign allies and much of the political establishment by opting to rupture this country’s primary connection to Europe in a stunning result that will radiate economic and political uncertainty across the globe. "

Cameron continued, "I will do everything I can as Prime Minister to steady the ship over the coming weeks and months, but I do not think it would be right for me to try to be the captain that steers our country to its next destination.

This is not a decision I have taken lightly, but I do believe it is in the national interest to have a period of stability and then the new leadership required."

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