British PM David Cameron to step down this year in wake of EU vote
Prime Minister David Cameron says he will resign by the fall and insists the British people’s will must be respected after voters chose to leave the 28-nation European Union.
“I do not think it would be right for me to be the captain that steers our country to its next destination,” Cameron told reporters outside 10 Downing Street just before 8:30 a.m. in London.
Cameron, in power for six years, said he will resign by the time of the Conservative party conference in the fall. He turns 50 on Oct. 9.
“I held nothing back,” he said. “I was absolutely clear in my belief that Britain was stronger, safer and better off inside the European Union … but the British people have made a very clear decision to take a different path.”
Cameron said he had spoken to Queen Elizabeth II about the steps he was undertaking to prepare the government for new leadership.
British stocks are plunging as the market opens as investors scramble to react to the news. The pound has hit a 31-year low.
Cameron sought to reassure investors and markets that “Britain’s economy is fundamentally strong.”
When he promised the referendum, in 2013, Cameron said it would “settle this European question in British politics” once and for all.
He told voters he would forge a new deal between Britain and the EU that would make remaining an attractive prospect. At a Brussels summit in February, he won changes to welfare benefits that he said would reduce immigration and an exemption for Britain from the EU’s commitment to “ever-closer union” — a phrase that stirs images of a European super-state in some patriotic British hearts. (Source: CBC News)
"The best argument against democracy is a five-minute conversation with the average voter." – Winston Churchill #Brexit
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