UK Leaves EU, Black Friday Feared

Posted: Jun 24 2016, 12:11am CDT | by , Updated: Jun 24 2016, 1:36am CDT , in Latest Political News

UK Leaves EU, Black Friday Feared
Leader of the United Kingdom Independence Party (UKIP), Nigel Farage reacts at the Leave EU referendum. Credit: AFP / GEOFF CADDICK

It is official. The United Kingdom voted to leave the EU in the controversial Brexit referendum. Watch the official announcement.

The UK people voted to leave the European Union. The "Leave" got over 16,835 million votes as of early morning European time. This number is enough to settle the majority. The count on "Remain" stands at 15.692 million.

The Brexit vote divides the UK. Interestingly Scotland voted throughout the all areas for remaining in the EU. This likely means that Scotland will aim at leaving the UK.

Jenny Watson chairperson of the United Kingdom Electoral Commission announced earlier that public voting in the EU referendum is the highest ever turnout of British voters. The British people took this decision seriously and it is an important to most people.

The process of the UK leaving the EU is expected to take about 2 years. While Nigel Farage is celebrating, the British Pound tumbled to its lowest value since 1985.

Now that the Brexit is actually happening, it is not clear what this change will trigger. The British economy might enter a recession. Other EU members might decide to leave too. It could mark the end of the large EU and the European Union could shrink again to where it was before the expansion.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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