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Version 2 Version 3
EU referendum live: Johnson says no rush for Brexit as Cameron quits EU referendum live: Boris Johnson says no rush for Brexit as Cameron quits
(35 minutes later)
2.52pm BST
14:52
Christine Lagarde, head of the International Monetary Fund (IMF), has welcomed “commitments” from the Bank of England and the European Central Bank (ECB) to try to shore up the markets. She said:
We take note of the decision by the people of the United Kingdom. We urge the authorities in the UK and Europe to work collaboratively to ensure a smooth transition to a new economic relationship between the UK and the EU, including by clarifying the procedures and broad objectives that will guide the process.
We strongly support commitments of the Bank of England and the ECB to supply liquidity to the banking system and curtail excess financial volatility. We will continue to monitor developments closely and stand ready to support our members as needed.
2.47pm BST
14:47
A Channel 4 correspondent in Barnsley, Yorkshire, where 68% voted to leave, has been interrupted by people shouting “send them home”.
Been standing here five minutes. Three different people have shouted "send them home". pic.twitter.com/cVvmYvC73o
2.44pm BST
14:44
The Nasdaq, like the Dow Jones, is down significantly:
BREAKING: Nasdaq seeing worst drop since Nov, 2011 » https://t.co/TGMGUaWBm7 pic.twitter.com/VhBwryqrdz
2.41pm BST
14:41
Constanze Letsch
The Turkish prime minister, Binali Yildirim, said that the European Union needed to carefully reconsider its political vision after Britain’s exit vote.
“The EU should read this development very carefully and reassess its vision for the future,” Yildirim said in a televised speech on Friday.
Turkish EU minister Ömer Celik brushed aside fears that the UK exit would spell yet more trouble for the country’s stalled EU accession talks, as Britain had previously been one of the strongest supporters of a Turkey membership. He said in a TV broadcast:
We expect that a more realistic union will emerge after this. There will be more opportunities and new possibilities for Turkey. Whatever will happen next, it will be better for Turkey. As a European power and a European democracy we will keep watching this process.
Co-chair of the main opposition Republican People’s party (CHP) Öztürk Yilmaz criticised the strategy to vilify Turkey as part of the referendum campaign. The Brexit camp had argued that Turks were inherently disposed to criminality and that all of them were desperate to come to the UK, whereas David Cameron had suggested that Turkish membership was not even “remotely in the cards” and that the country may not join until the year 3000.
All throughout the campaign, those lobbying to leave and those lobbying to remain in the EU used Turkey in a disgusting way. It was a vile campaign. They made Turkey the scapegoat and demonised [the country]. We were very uncomfortable with the way this bad Turkey campaign was used in UK politics.
2.37pm BST
14:37
Dow Jones plummets 500 points
The US stock exchange has experienced a sharp fall on opening.
Dow opens down over 500 points. #Brexit
2.34pm BST
14:34
Heather Stewart
Sajid Javid, the business secretary, is spending the day in a “calming operation,” speaking to business groups to reassure them that Britain won’t be leaving the EU overnight.
“He’s saying, ‘let’s not rush into anything; let’s stay calm and try and do our best with this situation: we need to do our jobs,” said a department for business source.
2.33pm BST
14:33
In a text less than an hour after the victory for leave was declared, the Sun’s editor Tony Gallagher told the Guardian: “So much for the waning power of the print media.”
The Guardian’s head of media, Jane Martinson, writes:
The Sun, which came out last week with a union jack-draped front cover urging its readers to “BeLeave in Britain” and at 6am on Friday published “See EU later”, did not rise against the EU alone. British newspapers were overwhelmingly in favour of Brexit, with the Mail, Telegraph, Express and Star accounting for four times as many readers and anti-EU stories as their pro-remain rivals.
“If you believe in Britain, vote leave,” urged the Mail on Wednesday, lambasting the “lies” and “greedy elites” of a “broken, dying Europe” on its front page.
Such headlines were not just the hallmark of an increasingly bitter referendum campaign – with its relentless focus on anti-immigration stories – but came after years of anti-EU reporting in most of the British press.
In February, the Mail front page asked simply “Who will speak for England?”, highlighting the causes of independence and nationhood that have so helped the leave campaign. As the UK considers the far-reaching consequences of leaving the EU, it seems as good a moment as any to consider who has now spoken for England – the people alone or a Eurosceptic press that has campaigned against Brussels for decades.
2.29pm BST
14:29
Obama: 'special relationship will endure'
The US president, Barack Obama, has said that Britain will remain a key ally, as will the EU:
The people of the United Kingdom have spoken, and we respect their decision. The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom’s membership in Nato remains a vital cornerstone of US foreign, security, and economic policy. So too is our relationship with the European Union, which has done so much to promote stability, stimulate economic growth, and foster the spread of democratic values and ideals across the continent and beyond. The United Kingdom and the European Union will remain indispensable partners of the United States even as they begin negotiating their ongoing relationship to ensure continued stability, security, and prosperity for Europe, Great Britain and Northern Ireland, and the world.
2.26pm BST
14:26
Sam Jones
In an address to the Gibraltar parliament, the chief minister, Fabian Picardo, hit back angrily at Spain’s suggestion that the Brexit vote should give rise to joint sovereignty of the territory.
He said:
Let me be absolutely clear. Despite the noises that are bound to be made by some in the neighbouring nation - indeed, some have already been made this morning - this government is confident in the support from the British government that there will be not talks - or even talks about talks - against the express wishes of the people of Gibraltar in respect of the sovereignty of Gibraltar.
In a dig at Spain’s acting foreign minister, José Manuel García-Margallo, he added:
So let others make irrelevant noises about flying flags over a rock if they want to waste their breath. Such ideas will never prosper. Gibraltar will never pay a sovereignty price for access to a market. Gibraltar will never be Spanish in whole, in part or at all. So I ask all our citizens to ignore these noises. Our work will be focused on the more pressing issues before us. Redirecting and protecting our economy are what we must all now focus on.
2.24pm BST
14:24
Ian Cobain
A private exit poll conducted on Thursday by the businessman Lord Ashcroft showed that there was no difference between male and female voters – but very sharp differences between voters according to age, ethnicity, education and personal wealth.
Most of those working full- or part-time voted to remain, for example, while most of those who are not working wanted to leave. More than half of those on a personal pension voted to leave, a figure that rose to two-thirds of those on a state pension. Some 55% of those who own their homes outright voted to leave.
The older the voter, the more likely they were to vote to leave: 60% of those aged 65 or more voted to leave, while nearly three-quarters of 18-to-24-year- olds voted to remain.
A large majority of those whose formal education ended at secondary school level voted to leave, while 67% of those with a university degree and 64% with a higher degree voted to remain. More than four-fifths of those voters still in full-time eduction voted to remain.
Among those voters describing themselves as white, 53% voted to leave. More than two thirds of Asian voters and almost three-quarters of black voters wanted to remain. Some 58% of voters who described themselves as Christian voted to leave, while 70% of Muslims voted to remain.
Analysis of voting patterns according to occupation showed that the so-called AB voters – people engaged in professional and managerial work – voted 57% to 43% in favour of remaining in the EU, while C1s – clerical and junior managerial workers – were divided evenly and C2DEs - skilled or unskilled white-collar and manual workers and those receiving benefits - voted overwhelmingly in favour of Brexit.
Ashcroft’s poll also showed that the majority of voters thought the remain campaign would win, including among those who voted to leave.
Updated
at 2.34pm BST
2.14pm BST2.14pm BST
14:1414:14
The Guardian has charted David Cameron’s years as prime minister “from fresh-faced upstart to European failure”.The Guardian has charted David Cameron’s years as prime minister “from fresh-faced upstart to European failure”.
2.06pm BST2.06pm BST
14:0614:06
Sam JonesSam Jones
Spain’s acting prime minister, Mariano Rajoy, has sought to allay fears over Brexit’s consequences for Britons in Spain and Spaniards in the UK.Spain’s acting prime minister, Mariano Rajoy, has sought to allay fears over Brexit’s consequences for Britons in Spain and Spaniards in the UK.
The leave vote has shocked many of the 300,000 Britons who are officially registered in Spain, particularly older expatriates who rely on the Spanish health system for medical care.The leave vote has shocked many of the 300,000 Britons who are officially registered in Spain, particularly older expatriates who rely on the Spanish health system for medical care.
In a televised address on Friday, Rajoy said the EU treaties governing Britain’s relations with the rest of the bloc would remain in force while London negotiates the terms of its exit – a process he said could take “at least two years”.In a televised address on Friday, Rajoy said the EU treaties governing Britain’s relations with the rest of the bloc would remain in force while London negotiates the terms of its exit – a process he said could take “at least two years”.
Their rights to move freely, to work, to pay social security contributions, to receive pensions, to invest, to vote or be elected in local elections will not be affected at all. The same applies to the rights of British citizens who live or work in our country or in the rest of the EU.Their rights to move freely, to work, to pay social security contributions, to receive pensions, to invest, to vote or be elected in local elections will not be affected at all. The same applies to the rights of British citizens who live or work in our country or in the rest of the EU.
Pablo Iglesias, leader of Spain’s anti-austerity party Podemos tweeted that it was a “sad day for Europe”, adding: “No one would want to leave a fair and supportive Europe. We have to change Europe.”Pablo Iglesias, leader of Spain’s anti-austerity party Podemos tweeted that it was a “sad day for Europe”, adding: “No one would want to leave a fair and supportive Europe. We have to change Europe.”
The fate of Gibraltar appeared less clear after Spain’s acting foreign minister, José Manuel García-Margallo, said the leave vote had brought the prospect of a Spanish flag flying on the rock of Gibraltar closer.The fate of Gibraltar appeared less clear after Spain’s acting foreign minister, José Manuel García-Margallo, said the leave vote had brought the prospect of a Spanish flag flying on the rock of Gibraltar closer.
UpdatedUpdated
at 2.12pm BSTat 2.12pm BST
2.02pm BST
14:02
One investment bank is already moving staff overseas, according to the BBC.
Sources at Morgan Stanley tell BBC it's already begun process of moving 2,000 London based investment banking staff to Dublin or Frankfurt
UPDATE: Morgan Stanley has denied this:
Morgan Stanley denying it is moving 2,000 bankers from the UK to Ireland and or Germany
One of its rivals, JP Morgan, said earlier that there could be changes to “the location of some roles”.
Chief executive of U.S. bank JPMorgan says will maintain large presence in the UK, but may move some jobs elsewhere in months ahead
Updated
at 2.12pm BST
1.53pm BST
13:53
Saeed Kamali Dehghan
The Norwegian minister for the European affairs, Elisabeth Aspaker, told the Guardian that Brexit marked a “loss for European cooperation” but said the results did not mean the UK could withdraw from the EU immediately.
Norway’s relationship with the EU will not be directly affected by the UK referendum. [However], it is a loss for European cooperation that a British majority wants the UK to leave the EU. But naturally, we respect the British people’s decision.
The Norwegian minister said it was unclear what sort of association the UK will want to have with the EU, and not least what sort of arrangement the other EU member states will offer the UK after it leaves. According to Aspaker, if a new agreement between the EU and the UK is not in place before the UK formally withdraws from the EU, trade with the UK will be governed by the World Trade Organisation rules.
Norway’s trade with the UK will be regulated by the EEA [European Economic Area] agreement until the UK has formally left the EU. For more than 20 years, Norway and the UK have been part of the same internal market, where the free movement of goods, services, capital and people is ensured. Some 8% of Norway’s mainland exports go to the UK. If you include oil and gas, the figure is around 22%.”
When the UK formally leaves the EU, the EEA agreement will no longer provide the framework for Norwegian–UK trade. It is therefore important for us that new arrangements are negotiated that enable us to maintain trade and cooperation with our UK partners.
Updated
at 2.02pm BST
1.52pm BST
13:52
Osborne: 'I'll do all I can to make it work'
The chancellor, George Osborne, does not appear to be following David Cameron in leaving office – not voluntarily anyway.
It was a hard fought campaign. It is not the outcome I wanted but I respect decision of British people and will do all I can to make it work
Updated
at 1.53pm BST
1.48pm BST
13:48
Still in any doubt as to the momentousness of the vote?
Due to the #Brexit vote, @ITV will be airing rolling news coverage this morning and there will be no live Loose Women today.
The BBC has also made a lot of changes to its schedule, including extending the News at One, the News at 10, airing a one-off special with Nick Robinson on BBC One and extending Newsnight.
On the radio, all the main news bulletins on BBC Radio 2 and BBC Radio 4 are to be extended and BBC Radio 5 live has cleared its schedule to provide live reaction and analysis until Saturday afternoon when it will resume coverage of Euro 2016.
1.44pm BST
13:44
Damian Carrington
The short answer to what happens next with pollution, wildlife, farming, green energy, climate change and more is we don’t know – we are in uncharted territory. But all the indications – from the “red-tape” slashing desires of the Brexiters to the judgment of environmental professionals – are that the protections for our environment will get weaker.
From the air we breathe to the food we eat to the climate we live in, how we protect and enhance the environment underpins the healthy and happy lives we all aspire to, now and for generations to come.
The Brexit vote leaves it highly uncertain which protections will remain in place and the prospect of improving them seems remote. Nigel Farage, the politician who did more than anyone to force the EU referendum, doesn’t even think climate change is a problem and wants to scrap pollution limits on power stations.
With 400,000 early deaths a year from air pollution – 40,000 in the UK – the EU saw things differently and set new legal limits in 2010. Many UK cities and towns remain above those limits today and campaigners have used EU rules to successfully sue the UK government. But UK ministers are even now fighting new EU rules to reduce early deaths. Pollution does not stop in its tracks at national borders, and 88% of environment professionals in the UK think an EU-wide policy is needed.
Earlier legal action from the EU forced the UK to clean up its sewage-strewn beaches, while many of the protections for nature and wildlife across the nation stem from EU rules.
1.42pm BST
13:42
Steven Morris
Pray for the UK (and its partners) is the message from the Bishops of the Church in Wales:
In facing the outcome of the EU referendum, we commend a period of calm and reflection as the UK seeks to find its way forward in this new situation.
As Christians we hold to the Gospel values of truthfulness, inclusion, and respect; and so after the passionate debate, we pray for reconciliation amongst the divided factions in our nations, communities and families.
We pray for the United Kingdom and for our partners in Europe and the rest of the world at this time of uncertainty, as we continue to work together to build a just and peaceful future in which all people can flourish.
Updated
at 1.42pm BST
1.40pm BST
13:40
The Press Gazette suggests the influence of rightwing papers could have been decisive in the referendum result.
The editors of the Sun, Telegraph, Express and Mail titles can reflect today that it was probably them ‘wot won it’ for the leave campaign.
This week they all declared for leave with prominent editorials. But throughout the campaign they have made their positions clear with front-page stories which have been chosen and written to benefit the leave side of the argument.
Together these titles reach around 28 million readers in print over the course of the month, according to the National Readership Survey.
With just over a one million votes separating the leave and remain sides their influence could well have been decisive.
It notes that 26 out of the last 28 Daily Express pages were positive for the leave campaign. By contrast it says remain received “luke-warm” support from the Guardian, Times and Mirror.
Updated
at 1.43pm BST
1.33pm BST
13:33
Associate EU status for Britain?
Philip Oltermann
Handelsblatt says it has been leaked an eight-page emergency plan with the “German strategy for Brexit”.
The newspaper says Germany would offer “constructive departure negotiations” but divorce proceedings would be difficult, for example regarding Britain’s involvement in the European investment bank. After the two-year period, the German government would aim for “associate status for the UK” and Great Britain would become an “associate partner country”.
But the paper also says there would be “no automatic access to the single market”, for fear of encouraging other countries such as France, Austria, Finland or the Netherlands to follow Britain’s lead. One would try to “avoid offering false incentives for other member states when settling on new arrangements”.
It adds: “The extent of such imitation effects would depend largely on how Great Britain was being treated.”
Updated
at 1.41pm BST
1.31pm BST
13:31
Steven Morris
Ukip’s Wales campaign manager Sam Gould has been keeping his strength up with help from a steak and a pint of Coca-Cola.
Ukip Wales campaign manager Sam Gould celebrating with his family - and a big steak. pic.twitter.com/SJ7ZRqZfFa
His home patch is Caerphilly, which has always returned Labour MPs. It was one of those Labour heartlands that voted resoundingly for out – 57.6% against 42.4%.
Gould rejects the idea put forward by the Labour first minister Carwyn Jones that such results were a protest against the Tory government in Westminster. “That is them trying to deflect attention,” he said. “They need to wake up and look at the facts.”
The real number one issue?
It’s uncontrolled immigration. We’re having to build on a picturesque mountain. They are looking to build thousands of homes on green spaces. This is down to pressures on housing that immigration has contributed to.
What next for Wales?
We’re going to be getting our freedom and democracy back. It brings hope to our steel industry, to our manufacturers, which have been decimated by the EU. Companies are struggling because of EU regulations. They now have hope. It is now about project hope.
1.26pm BST
13:26
Libby Brooks
The SNP reports that it is experiencing a surge in membership applications that would seem to mirror that which took place in the hours and days immediately after the 2014 independence referendum and which saw the party swell to the third largest in the UK. A party source said that they were being “inundated” with emails from previous no voters now pledging their support for independence following the conclusion of the EU referendum earlier this morning.
Meanwhile, other grass-roots pro-independence groups are reporting a similar trend. Women for Independence, one of the most successful campaign groups to emerge from the 2014 campaign, has already seen a spike this morning in people signing up, donating money, and identifying their local areas for activism. “The surge is back on” said one activist.