Brexit effect! David Cameron resigns as PM, to step down in October

By: | Updated: June 24, 2016 1:19 PM

With Britain voting to leave the European Union, David Cameron today announced his resignation. He will step down in October.

"Very proud and honoured to have been the Prime Minister of Britain for the last six years. I think the country requires fresh leadership", he said. “Very proud and honoured to have been the Prime Minister of Britain for the last six years. I think the country requires fresh leadership”, he said.

With Britain voting to leave the European Union, David Cameron today announced his resignation. He will step down in October.

“Very proud and honoured to have been the Prime Minister of Britain for the last six years. I think the country requires fresh leadership”, he said.

It is not right for me “to be the captain of the ship” as the British people have taken a very clear decision to take a different path to the one he has promoted, he added.

He reassured markets and investors that Britain’s economy is fundamentally strong in the address.

Earlier today Nigel Farage has gone ahead and called it the ‘Independence Day’ for Britain and has asked David Cameron to quit.

Supporters of Brexit have seized the lead in the vote count from Britain’s bitterly contested referendum, setting sterling on track for its biggest ever fall on world markets.

The British currency fell as much nine percent to a 30-year-low below $1.35, marking a sharper dive even than on ‘Black Wednesday’ in 1992 when financier George Soros was instrumental in pushing the pound out of the Exchange Rate Mechanism that predated the euro.

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