The result of the EU Referendum is, now, known.
After early wins for Remain in Gibraltar, the Orkney Islands and Newcastle, the Leave vote took hold in the majority of the United Kingdom with the final result being:
Leave 17,410,742
Remain 16,141,241
So with 51.9% of the popular vote, the United Kingdom has voted to leave the European Union.
Although the whole of Scotland voted as a block to Remain (62% Remain at 1,661,191 to 1,018,322), which will further strengthen the Scottish National Party’s case for independence as they may wish to pursue an independent case for remaining in the European Union as may Northern Ireland, where the vote was less conclusive (55.8% Remain at 440,437 to 349,442).
Early indications on the financial markets indicate a weakening of the Pound against the US Dollar (down from $1.50 to $1.33, the lowest since 1985) and the Euro (down to 1.2085 with a drop of 7%). London share prices (FTSE 100) are expected to drop by a similar 7%.
Our current Prime Minister, David Cameron, has announced his resignation as of 08:28 Hrs today (24 June 2016) leaving open a change of power of the pro-Leave MPs within the Conservative Government.
Now, the difficult task ahead is to unravel our links with the European Union and to reform them based on the possible options that can be negotiated over the coming months and years, as it will not be a quick process given the enormity of the task.
I will report on these developments as they impact environmental and sustainability professionals & for now, the vote is over.