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Fri Jun 24, 2016, 09:54 AM

Market turmoil as UK votes for Brexit, PM Cameron to quit, Carney pledges backstop

Market turmoil as UK votes for Brexit, PM Cameron to quit, Carney pledges backstop
David Cameron has announced his resignation as Prime Minister of the United Kingdom after the shock victory for the campaign to leave the European Union.

Cameron said in a statement Friday that he is likely to be gone by the time of the Conservative Party conference in October.

The leave camp secured 51.9 percent of the vote in the U.K. with 17.4 million votes, throwing markets around the world into turmoil and prompting sterling to hit its lowest level since 1985.
The Prime Minister's statement came as stock markets around Europe saw significant falls, with early signs that this could be an event that causes a shock as deep as 1987's Black Monday.

I smell recession in the wind...

Oh, somewhere in this favoured land the sun is shining bright,
The band is playing somewhere, and somewhere hearts are light;
And somewhere men are laughing, and somewhere children
shout,
But there is no joy in BritainóDavid Cameron has resigned

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