Brexit: Britain votes to leave EU

Sterling falls below $1.35, its lowest level since 1985

Rachel Flaherty Fri, Jun 24
LIVE: Brexit: Britain votes to leave EU

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  • This event has now ended
  • 21:05
    Less than one hour of voting remains in Britain's historic referendum on its membership of the European Union. The race has been too close to call in recent days but in just a few hours' time we'll know whether, after more than 40 years, the UK has decided to stay the course with Europe or strike out on its own.
  • 21:07
    Voting got underway at 7am this morning and will continue until 10pm tonight after which counting will begin immediately. The earliest results will come from places such as Gibraltar and the Isles of Scilly. Sunderland should have results by about 12.30am but it won't be until about 3am or 4am until the outcome is clear.
  • 21:15
    Unlike on the night of the British general election, there will be no formal exit poll in the Brexit referendum. Yougov have, however, conducted a poll during the day which they will be releasing at 10pm, which might give some indication as to the result.
  • 21:30

    With an electorate of 46,499,537, it has been projected that the turnout could be up to 80 per cent. In context, that would be 14 per cent more than turned out at the last general election.

    Read Shane Hickey's essential guide to how the night will unfold, including a graphic of the key swings areas that will decide the referendum.

  • 21:34
    “I don’t mean to stereotype but if people look a bit angry they’re a ‘leaver.’” Patrick Freyne has been out in Kilburn, former heartland of the Irish in London, getting the voices on the ground.
  • 21:36
  • 21:41

    Amanda Ferguson in Belfast writes:

    Counting for Belfast North, Belfast South, Belfast West and Belfast East will take place at the Titanic Exhibition Centre in the Titanic Quarter of the city.

    The conference centre on the Queen's Road is the main hub for EU Referendum proceedings in the North.

    The final regional result will be announced here by  the chief  electoral officer  for Northern Ireland Graham Shields  in the wee small hours of the morning.

    There  is around 320 electoral staff in the centre including counters, count supervisors and count calculators ready to get started work when the ballot boxes arrive.
  • 21:42
  • 21:48
    Just more than 10 minutes now until voting ends and counting begins.
  • 21:50
  • 21:52
    From Amanda Ferguson:  

    DUP MLA for Belfast South Christopher Stalford has just arrived at the Belfast count centre.

    "My constituency is very diverse. I think if we in the leave camp are above 30% we will be very pleased with that.

    "I think in the areas where I would traditionally poll quite well  the  turnout is healthy, above what we would get in an assembly election so I am hoping that could be a good indication of where the constituency is polling as a whole.

    "If leave is over 30% I will consider that as a victory."
  • 21:54
    About five minutes now until polls close. The first declarations from the British mainland should come from the north east--Sunderland, Newcastle-upon-Tyne, Gateshead. Expect those around 12.30. Remain will need about 55 per cent here to feel any way comfortable.
  • 21:58
    Turnout will be import in this referendum. Young people favour Remain but older people are more likely to have actually gone out and vote. Polling stations were reported to have been busy today but will the torrential rain that hit parts of England also hit turnout?
  • 22:01
    And that's it, it's all over. Let the counting begin. Will David Cameron and Co breathe easy as Remain carries the day or will the Leave brigade lead the charge into the great unknown?
  • 22:01
    Nigel Farage, speaking to Sky News, has said it "looks like Remain will edge it".
  • 22:04
    A YouGov poll of 5,000 people puts Remain at 52 per cent to Leave's 48 per cent.
  • 22:06
    Voter turnout today is estimated at a massive 83.7 per cent. Very early indications put the Remain side in the lead but it would be foolish to call anything at this point.
  • 22:13
    Counting is now underway in 216 venues covering 382 individual areas. The first stage is the verification of the ballot papers. The final result will be announced at the count HQ in Manchester around breakfast time on Friday but the outcome will be known well before then.
  • 22:14
    Confidence creeping into the Remain side now. Labour's chuka Umumma says it's been a "good day for democracy".
  • 22:16

    Sterling rallies with news that the Remain side looks strong.

    From Joe Brennan, Markets Correspondent:

    The sterling rises to $1.4988 after YouGov poll suggests UK voters have opted to remain in the EU, from $1.4867 immediately before the polls closed. The sterling-dollar rate has been seen as the key financial market gauge of sentiment throughout the Brexit campaign.

  • 22:23
    News has emerged now that 84 Tory Leave MPs, including Boris Johnson and Michael Gove, have written a letter pledging their continued support for David Cameron to remain as prime minister regardless of tonight's result. It had been widely said that if Britain votes to leave then Cameron has to go.
  • 22:25
    From Denis Staunton, London Editor: "The letter will help to stifle any move against Cameron by Conservative MPs in the event of a vote for Brexit. If Remain wins, some of the signatories, who account for two thirds of the Tory MPs backing Brexit may hope it stifles any move by Cameron against them."
  • 22:27
  • 22:30
    Amanda Ferguson in Belfast writes:  

    Sinn Féin MEP Martina Anderson has just arrived at the Belfast count centre.  

    "I think in the unionist community there was a real sense of copper fastening partition and I think there was an ideological reason people voted to leave for that very reason.

    "For us this was about staying in Ireland, as Ireland, staying as one, not having one part in Europe and the other part of it outside of Europe."

  • 22:40

    Cliff Taylor of our business team writes: This evening sterling was trading stronger after the polls published following the close of voting. And stock markets had a strong day. If the vote does happen to turn around to “leave” overnight, there will be some sell-off. But for the moment investors and bookies are both betting on “remain.”  

  • 22:46
    The YouGov poll at 10pm giving Remain a 4 per cent lead caused a flurry of activity but it will still be a couple of hours before any actual results come in. It should be reiterated also that there is no formal exit poll, such as the one which gave a clear indication of outcome of the general election, for this referendum. Although Farage appears to have come close to conceding, other members of the Leave campaign say they are more optimistic.
  • 22:47
    Leave will need strong results early on from areas such as Sunderland, Swindon and Darlington if it is to have any hope of victory.
  • 22:49
    But there's further bad news for the Leave side with the results from an Ipsos Mori poll conducted over the past two days which puts Remain on 54 per cent and Leave on 46 per cent. However, private polling from Leave EU puts Leave on 52 per cent and remain on 48 per cent.
  • 22:54
  • 22:54
  • 22:58

    Denis Staunton, London Editor:

    "Former deputy prime minister Michael Heseltine says he believes Remain will win and that David Cameron will be generous to those who backed Brexit. He says the Conservative Party understands it must have “a unity of purpose and a unity of voice” and warns against lapsing into endless civil war over Europe.

    "If Remain wins, Cameron’s tone when he speaks about the result in the morning could be crucial to his chances of binding the party’s wounds and isolating the diehards."

  • 22:58

    Cliff Taylor writes: "Sterling now  touches $1.50 for first time since last December on early polling evidence for “ remain. “  But it will be a long night in the dealing rooms, as well as the count centres."

  • 23:01
  • 23:02
  • 23:07
    Northern Ireland secretary and prominent Leave campaigner Theresa Villiers says it is her "instinct" that Remain has won. She puts it down to "project fear succeeding". She was also one of the signatories of The Letter.
  • 23:08
  • 23:19

    Damian Green Tory MP and Remain supporter speaking on Sky News now, jacket casually slung over his shoulder, grinning with confidence--says it's too early to call. The Remain side certainly appears happier than the Leave side though.

    Soon we'll have the results from the most British place on earth: Gibraltar. An emphatic Remain vote is expected there.

  • 23:21

    Deputy political editor Pat Leahy writes:

    "We’re still at the stage where we don’t have enough hard information to make a call, and the polling data isn’t conclusive. I’ve been talking to people doing private polling in the UK for banks and hedge funds and they say it’s too close to call. However, UK Labour sources are telling people that they reckon their canvass returns suggest a strong Remain vote is coming out."

  • 23:22
  • 23:28
    Cliff Taylor writes: Bloomberg is reporting that US stock futures are on the rise – this means investors are betting that stocks will rise tomorrow, on the basis of a remain vote.   A remain would boost shares and  oil prices, analysts say, be good for sterling and lead to a fall in the US dollar.  There is some dispute, however, about the extent to which  prices in the markets have already largely adjusted to a remain vote. It may already be largely “ priced in”, to use the jargon.
  • 23:28
  • 23:29

    Amanda Ferguson reports Alliance Party leader and former Stormont justice minister David Ford is keeping an eye on proceedings at the Belfast count centre.

    He said: "I think there were problems with the campaign in Northern Ireland getting it going after the Assembly election (in May).

    "It also affected Scotland and Wales as well.

    "I certainly think that in  some areas the remain side was doing better than expected.

    "Certainly that was my experience on the doorsteps in South Antrim.

    "On the other hand I have just looked at some areas of Belfast where there is a higher than expected working class Protestant turnout going predominantly leave so it really is a multiplicity of different factors.
  • 23:37
    And the first result of the night comes from Gibraltar: Remain 19,322 Leave 823. Predictions were about 85 per cent in favour of Remain but that was a massive 96 per cent in favour. So one count down, 381 to go.
  • 23:41

    Nigel Farage at the Leave EU party says: It's been a long campaign, in my case 25 years and whoever wins this battle one thing I'm completely certain of is we are winning this war. It looks like tonight maybe just under half, maybe over half, the country is going to vote to leave the European Union.

    The eurosceptic genie is out of the bottle and it will not now be put back.

    My sense of this is that the government's registration scheme...may be what tips the balance. I hope I'm wrong.

  • 23:44
    So not exactly a concession there from Farage. But really he never conceded, he just said Remain will probably edge it, which is effectively what he just said again. Although he was adament that he was "not cenceding".
  • 23:52
    Here's an interesting tweet. It's worth pointing out that it was posted before voting even finished and before that YouGov poll putting the Remain side four points ahead.
  • 23:53

    Denis Staunton, London Editor:

    Ukip leader Nigel Farage’s defiant speech blaming the extension of the voter registration deadline for a Remain victory made clear that he sees a promising future for his party regardless of the outcome. The YouGov poll suggesting that almost a third of Labour supporters backed Brexit offers an opportunity for the populist right.

      Regardless of the outcome, Labour’s anguish over the party’s estrangement from part of its working class base will continue. And the party is divided over how to address concerns over immigration, with some on the right of the party calling for restrictions on free movement of people while those on the left recoil at what they see as pandering to xenophobia.
  • 23:57
    In football as in vote counting, the rivalry between Newcastle and Sunderland is fierce. But it looks like Sunderland will pip the magpies again this time. A result there is expected soon, within the next half hour.  
  • 23:59

    Pat Leahy writes:

    Let’s watch the Sunderland result, coming up in next half an hour. Anything over 55 per cent for Leave suggests that Leave could be in the driving seat nationwide. Some rumours of 60 per cent Leave there – which would suggest Remain is in trouble. But let’s see what the figures actually say.

  • 00:00
    Oh but wait, what's this? Newcastle have done it! They've completed their count before Sunderland. And the result there is Remain 65,404 Leave 63,598. That's tight, 50.7 to 49.3, in an area with plenty of students and younger voters--Remain voters.
  • 00:04

    Amanda Ferguson in Belfast

    South Belfast MP and former SDLP leader Dr Alasdair McDonnell is hopeful of the remain campaign winning and believes Britain must "throw itself into Europe full thrust".

    "Early indications are positive for remain and I would be quite hopeful of a positive result, the result we have all worked for.

    "This has major implications for Ireland, for Britain, for Europe in that Britain is voting in my opinion in my opinion to remain.
  • 00:06
    And an emphatic Remain vote in the Orkney Islands, about 7,000 to 4,193--in line with expectations.
  • 00:09

    Suzanne Lynch now with the latest from Brussels, where it seems a group of Irish soccer fans including Wes Hoolahan's aunt, is busy watching the count:

    Dozens of British expats have crowded into the bars around the Schumann area of Brussels near European Commission headquarters to watch the results of the British referendum.   With thousands of British jobs in the EU institutions at stake if Britain votes to leave the EU, the outcome is particularly consequential for those who work and live in Brussels.  

    Some of the European Commission’s most senior EU officials dropped in to watch the livestream of the results from the BBC and Sky News. They weren’t the only one’s present though – a group of Irish soccer fans who have just arrived from Lille following Ireland’s victory against Italy are also watching proceedings, including Angela, an aunt of Wes Hoolahan, from Dublin’s inner city who is planning on travelling on to Lyon from Brussels.  


  • 00:15
  • 00:15
  • 00:17
    Now Sunderland, and a big one: Remain 51,930 Leave 82,394. The Leave supporters give a huge cheer as they achieve a major, 61 per cent, victory. That puts Leave in the lead and will be unsettling for the Remain side.
  • 00:20
    Clackmannanshire in Scotland votes Remain, as expected.
  • 00:21

    Cliff Taylor writes : As we said, it will be a long night for currency traders . The narrowness of the remain vote in Newcastle set nerves on edge and sterling has fallen back sharply.

  • 00:21
    And the pound has just plummeted after the Sunderland result.
  • 00:22
  • 00:24
  • 00:25
    Nigel Farage: "Well Sunderland was fantastic, Newcastle was pretty amazing too... it's the Labour voters feeling very badly disaffected." But he still says Remain "might just nick it".
  • 00:31
    Cliff Taylor writes: Sterling has fallen very sharply after the Newcastle and Sunderland votes . Down from $1.50 after the earlier polls to under $1.44. This is a huge drop and a sign of the markets ' exposure if leave does win.
  • 00:36
    The Leave side is likely to run up a large lead within the next hour thanks to strong enti-EU votes in areas such as Hartlepool, Basildon, Swindon and Merthyr Tydfil. These should be balanced somewhat by Belfast results backing Remain.
  • 00:40
    Cliff Taylor: Part of the reason why sterling has swung is limited liquidity with European markets closed. Still from $1.50 to sub $1.44 is a huge move. Fasten seat belts, etc.
  • 00:43
  • 00:44

    Amanda Ferguson in Belfast:

    DUP deputy leader Nigel Dodds MP:  

    "The signs in Northern Ireland is that leave will do better than anyone expected even a few weeks ago.

    "The turnout in unionist areas has been very impressive and higher even than the Assembly elections.

    "It is clear that overwhelmingly unionist have voted to leave, that is what we recommended they do, so obviously we are pleased by that."

  • 00:53

    Foyle votes strongly for Remain, giving Remain the lead once again.

    The Isles of Scilly have also backed Remain 803 to Leave's 621.


  • 00:55
    Swindon votes for leave, as expected: Remain 51,220 Leave 61,745
  • 00:57

    Suzanne Lynch in Brussels writes:

    The storms that battered south eastern England today have moved across the Channel, as torrential rain and lightning storms electrify the skies over Brussels this evening.  

    The weather reflects the mood here. Brussels is engulfed in an air of quiet apprehension ahead of the results of the EU referendum.

    With lights still on at the European Commission headquarters, both the European Parliament and European Council will be open all night to cater for the hundreds of media representatives that have descended on the Belgian capital.

    The first official  EU meeting is expected at 7 am tomorrow when the heads of the European Parliament’s main political groups meet. At 10.30 am, the presidents of the three main EU institutions – the European Commission, Council and Parliament – along with Dutch Prime Minister Mark Rutte whose country holds the rotating EU presidency will meet at the Commission’s headquarters. A press conference or joint statement is expected after the meeting. Should Britain vote to leave, the ECB is expected to move to reassure financial markets as early as 8 am. A series of emergency meetings involving ambassadors and senior officials will then take place over the weekend before markets open on Monday as Brussels prepares for the first exit of a member state from the European Union in the institution’s history.

  • 00:57
    Cliff Taylor:   sterling has bounced back a little to over $1.46, but stock futures - indicating where share might go later today - showing nerves. It's all very choppy, to use the jargon . Bookies still going for remain buts odds narrowing.
  • 01:00
    Broxbourne votes 66.3 per cent in favour of Leave with 33,706 votes to 17,166. That's as expected and Leave will likely consolidated its lead over the next while until Scottish (Remain) votes start to pour in around 2am. But it's shaping up to be a very very closely run thing. Keep an eye on bellwether Stockport.
  • 01:09
    "I think it's going to be a long night," says former Labour leader Ed Miliband, who must be enjoying this count night a lot more than he enjoyed the general election one. "If it is a Remain result it's a vote for staying in the EU but not for the status quo in the country."  
  • 01:12
    Turnout in Glasgow was reported at 56.2 per cent, well below the nationwide turnout of 71.2 per cent. Glasgow is one of the top 15 largest voting areas by population and is expected to vote strongly for Remain--so a poor turnout there could bode poorly for Remain.
  • 01:20
    With 10 results in so far, it's 48.6 per cent in favour of Remain and 51.4 per cent in favour of Leave. so Leave is in the lead, but that it was expected that it would be at this stage of the night. It has performed particularly well in areas such as Sunderland and Swindon though which should have the Remain side well rattled. Remain will depend on stron showings--and large turnouts--in areas such as Scotland and London.
  • 01:22
  • 01:26
    Alex Salmond on BBC says Cameron will have to step down if he loses this sort of a referendum. "I'm speaking from personal experience".
  • 01:29

    Amanda Ferguson in Belfast

    Turnout figures are just in for the four Belfast constituencies and indicate unionists have turned out  in significantly  higher numbers to vote  

    Belfast West

    Ballot papers verified: 31,209

    Eligible electors: 63,883

    Percentage turnout:44.85%

    Belfast East

    Ballot papers verified: 42,665

    Eligible electors: 64,474

    Percentage turnout: 66.17%

    Belfast North

    Ballot papers verified: 39,998

    Eligible electors: 69,692

    Percentage turnout: 57.39%

    Belfast South

    Ballot papers verified: 44,583

    Eligible electors: 66,684

    Percentage turnout: 66.85%
  • 01:36

    Lagan Valley has voted to leave. 22,710 votes for Remain, 25,704 votes for Leave, 11 votes rejected.

    North Antrim results has voted to leave. 18,782 votes for Remain, 30,938 votes for Leave, 20 votes rejected.

    West Tyrone has voted to remain. 26,765 votes for Remain, 13,274 votes for Leave, 22 votes rejected.

  • 01:40
    Despite early optimism from the Remain side with a YouGov poll putting them 52 to 48 per cent ahead, predictions are now beginning to shift towards a victory for Leave as it clocks up bigger than expected majorities in early counts. Experts on the BBC say it looks good for Leave and alo we've this from our deputy political editor Pat Leahy: "My UK number crunching sources still looking like statistical dead heat, with very slight preference for Leave."  
  • 01:42
  • 01:45
    Major win for Leave in Hartlepool. Leave was expected to win there but that's some majority. Leave doing consistently better than expected.
  • 01:46
    And now Basildon: Remain 30,748 Leave 67,251
  • 01:51
    BBc says the winning post is 16.8 million votes, based on turnout. There's a long way to go tonight but things are looking good for the Leave side.
  • 01:52

    Strangford has voted to leave. Results: 18,727 votes for Remain, 23,383 votes for Leave, 13 votes rejected.

  • 01:57
    Lindsay "#IAMIRISH" Lohan has a lot invested in this. #ShetlandsVSSunderland
  • 02:01
    Leave has just passed the 1 million vote mark.
  • 02:04
    The side that's in trouble tends to start fighting and recriminations are being thrown around within the Remain side now with Labour targeting the SNP for not bringing out a bigger vote in Scotland, where turnout is lower than the rest of the country. But Alex Salmond says industrial areas of Scotland are posting much higher Remain results than similar areas in Britain.
  • 02:05
    The early results from Wales suggest the country is on course for a Leave vote.
  • 02:10
    Vince Cable now says it looks like the referendum will go Leave's way. Criticises the Remain campaign--there'll be a lot more of that in the days to come if the night continues this way.
  • 02:11

    Strangford has voted to leave.

    Results: 18,727 votes for Remain, 23,383 votes for Leave, 13 votes rejected.

    North Down votes to remain

    23,131 votes for remain, 21,046 votes for leave, 34 votes rejected.

    Belfast West votes to remain

    23,099 votes for remain, 8,092 votes for leave, 18 votes rejected.

  • 02:14
    With 10.2 per cent of the votes counted now it's Remain 46.2 per cent Leave 53.8 per cent.
  • 02:21
    The pound is down now to $1.42, nearly a 10 cent move. Probably the most volatile day of trading for sterling in decades.
  • 02:22
    And now Glasgow: Remain 168,335 Leave 84,474
  • 02:25
    The SNP's Angus Robertson says he's "delighted" with that result: 66.6 per cent in favour of Remain. He says Labour aren't in a position to to lecture the SNP about getting out the vote after they were hammered in Scotland in the general election. It's about 2 to 1 in favour of Remain in Scotland and that big win in Glasgow puts Remain ahead in the overall race.
  • 02:26

    Belfast East votes leave

    20,728 vote  for remain, 21,918 vote  for  leave, 19 votes rejected.

  • 02:27
    And another boost to Remain in Wandsworth, London: Remain 118,463 Leave 39,421
  • 02:28
    Lambeth in London also polled 79 per cent in favour of Remain. It's looking good for Remain in London. And they'll need it if they're to reverse the strong Leave showing in the north of the country.
  • 02:35
    In the next half hour we should start to see declarations from the shires which should deliver strong votes for Leave. There are still 328 of 382 local authorities yet to declare but so far Remain is edging it by 50.6 per cent to 49.4 per cent.
  • 02:38

    Belfast South votes remain

    30,960 for remain, 13,596 for leave, 27 votes rejected.  

    Belfast North votes remain

    20,128 for remain, 19,844 for leave, 26 votes rejected.

  • 02:41
    Overall votes in Northern Ireland expected around 4am.
  • 02:46
  • 02:53
  • 02:58
    Remain voters horrified there as they look at the results come in. The giddy confidence of the Remain side when that YouGov poll was published five hours ago has given way to real concern that the Leave side will come good.
  • 03:01
    And now with 112 local authorities declared, Leave has just overtaken Remain and leads by 4,080,626 to 4,063,630.
  • 03:11
    With about one third of the votes counted, Tory MP Bill Cash (for Leave) says he's going to wait and see how things pan out. "The public didn't buy the Armageddon argument," he points out before hinting that Cameron should probably have to go in the event of Brexit.
  • 03:13

    East Antrim votes leave.

    18,616 votes for remain, 22,929 votes for leave, 19 votes rejected.  

    South Antrim votes leave.

    21,498 votes for remain, 22,055 votes for leave, 10 votes rejected.

  • 03:14

    East Londonderry votes remain.

    21,098 votes for remain, 19,455 votes for leave, 10 votes rejected.

    Upper Bann votes leave.

    24,550 votes for remain, 27,262 votes for leave, 33 votes rejected.
  • 03:20

    "Well I don't think so, no. Especially since it looks like we might... win" - Tory MP and Leave campaigner Jacob Rees-Mogg responds to David Dimbleby's question "was it a mistake to hold this referendum?"

  • 03:22
    Cliff Taylor writes: the gap between the highest and lowest sterling value against the US dollar in recent hours is an extraordinary 7 per cent. Sterling fell as low as $1.4040 at one stage, having been up to $1.50. It is currently around $.1.45, but trading is very nervous.
  • 03:26
  • 03:30

    Amanda Ferguson in Belfast writes:

    Lee Reynolds, Northern Ireland regional coordinator for the Vote Leave campaign said: "ITN is giving  it a 75 per cent chance that we are going to win.

    "The big results for Remain are coming in in London but results elsewhere in the country are just wiping each of them out as they go through.

    "In Northern Ireland we started at 30 per cent and it looks like we are going to end with closer to 40 percent.

    "For a six weeks campaign that's not too bad."
  • 03:36

    Neath Port Talbot in south Wales, which had been predicted to be one of the 15 closest results voted strongly to leave the bloc.

    It looks like Wales will go for Leave, as will much of England. But London, Scotland and, to a lesser extent, Northern Ireland will go for Remain. We expected to have an good enough idea at this point which way the referendum was going to go, but not so much. With 181 local authorities counted, Leave has 7.3 million votes while Remain has 6.9 million.

  • 03:41

    South Down votes Remain

    32,076 votes for Remain, 15,625 votes for Leave, 23 votes rejected.

    Mid Ulster votes Remain

    25,612 votes to Remain, 16,799 votes to Leave, 20 votes rejected.

    North Antrim MP Ian Paisley Jnr believes a leave win could make the DUP more influential in the House of Commons.

    "A Brexit would give the DUP more cachet at Westminster because if it is still Cameron as Prime Minister or someone else there will be rebellion in the Tory ranks and withdrawal of their support in some cases.

  • 03:49
    204 of 382 counts are complete with leave leading by more than 450,000. Leave are the favourites. Ukip are confident. And Nigel Farage is striking a very different note than he was nearly six hours ago: "I now dare to dream that the dawn is coming up on an independent United Kingdom."
  • 03:52

    Cliff Taylor writes: As expectations of a leave vote grow, sterling is collapsing again. It has fallen below $1.40 and was last quoted around $1.38 . Prepare to here a lot about "Black Friday" on the markets...

  • 03:53
  • 03:59
  • 04:05
    Nigel Farage claims victory: This will be a victory for real people, a victory for ordinary people, a victory for decent people... let June 23rd go down in our history as our independence day.
  • 04:06
    Cliff Taylor: with Nigel Farage "daring to dream" of a UK exit, the markets are now starting to fear it. As well as the sterling fall, indications are of a big drop in London share prices... and markets worldwide will be hit. The Economist Intelligence Unit says Brexit could cost the world economy $200 billion by the end of 2017 - an amount not far off Ireland's annual GDP.
  • 04:16
    Cliff Taylor: Sterling has fallen below $1.35, its lowest level since 1985. This is a massive hit to the purchasing power of people in Britain and, if sustained, a huge shock to Irish exporters to the UK.
  • 04:20
  • 04:23
    Labour's Chuka Umunna admits the party could have run a better campaign. He said the party didn't stay true to its position on immigration. He cuts a disappointed figure in the BBC studio as the Leave side stretches its lead by about 600,000.
  • 04:28

    Fermanagh and South Tyrone votes Remain.    28,200 votes for Remain, 19,958 votes for Leave, 29 votes rejected.

    Just Newry and Armagh left to declare.

  • 04:30

    Denis Staunton, London Editor, writes:

    As each result comes in the caveats surrounding predictions of a vote for Brexit are becoming ever weaker and the flickers of hope within the Remain campaign are petering out before our eyes. The recriminations are louder within the Labour Party than anywhere else, but the finger of blame is pointing in a number of directions, including towards Northern Ireland, where the turnout was lower than expected.

    Whatever happens, Britain is waking up to a society whose deep divisions have been laid bare, with the parties charged with healing them fractured and weakened. The once unthinkable step of Britain leaving the European Union has become the overwhelming probability, with dramatic implications for the EU and Ireland as well as for the UK itself.

  • 04:35
    Supporters of the Stronger In campaign react after hearing results in the EU referendum at London's Royal Festival Hall. Photograph: PA
    Supporters of the Stronger In campaign react after hearing results in the EU referendum at London's Royal Festival Hall. Photograph: PA
  • 04:40
    The BBC has called it for Leave: "The British people have spoken and the asnwer is, 'We're out'."
  • 04:48
  • 04:49
  • 04:58

    Amanda Ferguson in Belfast:

    Northern Ireland result: Total ballots 790,523. Remain 440,707. Leave 349,442. 374 rejected votes.

    Of the 18 constituencies 11 voted remain and  seven voted leave.



    West Tyrone

    North Down

    Belfast West

    Belfast South

    Belfast North

    Mid Ulster

    East Londonderry

    South Down

    Fermanagh South Tyrone

    Newry and Armagh


    Lagan Valley

    North Antrim


    Belfast East

    Upper Bann

    South Antrim

    East Antrim

  • 05:01
    "If the United Kingdom has voted against the interests of the Scottish people there will be consequences," says the SNP's Fiona Hyslop.
  • 05:06
    Fewer than 50 local authorities are yet to return results and the overall result is now beyond doubt. Later this morning the prime minister David Cameron will make a formal statement at Downing Street before markets open. Statements are also expected from HM Treasury, the Bank of England, the European Central Bank, the US Federal Reserve and other regulators.

    Statements will probably follow from European Council president Donald Tusk, European Commission president Jean-Claude Juncker and the likes of Angela Merkel and Francoise Hollande

  • 05:11

    Amanda Ferguson in Belfast writes:

    Sinn Féin MLA and national chairman Declan Kearney said: "All the indications are that we are going to see English votes overturning the democratic will of people here in the north of Ireland, republican and unionist, Catholic and Protestant people have voted in favour of Remain.

    "The British government as a direct result have forfeited any mandate to represent the interests of people here in the north of Ireland in circumstances where the north is dragged out of Europe as a result of a vote to leave."

  • 05:16
    Two days ago Taoiseach Enda Kenny said  Ireland had a clear plan in place if the UK votes to leave the EU. I hope our "whole-of-Government contingency framework" is up to the job.
  • 05:17
    Lord Paddy Ashdown: "God help our country."
  • 05:19
  • 05:27
    So Cameron's days are probably numbered. The PM delivered an unexpected majority for the Tories in the general election last year but left himself a hostage to a promised referendum designed to outflank Ukip. He must be watching this unfold, wondering how the hell Nigel Farage ever got the best of him.
  • 05:32
  • 05:41
  • 05:48
    I'll hand over to my colleague Hugh Linehan now who will marshall the live blog for the rest of the morning. Cameron should be on the steps of No 10 for a formal statement in a short while; Gove and Boris have yet to be heard from; the markets will open soon and European leaders will have to respond to the news that, for the first time in its history, the European Union has lost a member state.
  • 05:51
    Thanks Dan. Hugh Linehan here, taking over our liveblog coverage of the British referendum result. As we come up to 6am, the headline story is that, with nearly all results declared, it's clear the UK has voted by 52 per cent to 48 per cent to leave the European Union after 43 years.

    London and Scotland voted strongly to stay in the EU but there was an even stronger vote to leave in the north of England. Voters in Wales and the English shires have also backed Brexit. Sterling fell to its lowest level against the dollar since 1985 as the markets reacted to the results.
  • 05:53

  • 05:58

    Nigel Farage: 'A victory for real people... This will be our Independence Day.'

  • 06:03

    Joe Brennan, Markets Correspondent, says sterling fell as much as 10 per cent against the dollar, the most on record, to as low as $1.3229 as UK voters opted to exit the EU. The exchange rate had hit a year-to-date high of $1.50 shortly after polls closed on Thursday night amid misplaced optimism that the Remain camp would win.
    “We’ve had the biggest one-day move in sterling in history against the dollar,” says Justin Doyle, senior currency trader with Investec in Dublin, who worked with colleagues through most of the night.”
    “The volatility in the currency markets has been absolutely massive. Expect to hear soothing words from the Bank of England to try and calm the markets this morning. We may also get concerted stimulus from other major central banks, including the ECB and Federal Reserve.”
    European equity markets, including Ireland’s Iseq index being called sharply down when trading starts at 8 am

  • 06:07
    It's now official. The Leave vote has surpassed the number of votes required to win the referendum.
  • 06:13

    Derek Scally reports from Berlin that leading German economist Clemens Fuest has called the decision "a defeat for sense". "Now politicians must do everything to limit the economic damage," said Prof Fuest, head of Munich's Ifo economic think tank. "That includes ensuring as soon as possible that Britain remains integrated in the single market. It is important to conclude talks about this as soon as possible to ensure as short as possible a phase of insecurity over future economic ties.”

  • 06:14

  • 06:16
    No significant Irish reaction yet. The Irish Cabinet will meet this morning to discuss its response to the British referendum result.
  • 06:17
    Derek Scally, our Berlin correspondent, reports that Germany's EU-critical Alternative für Deutschland (AfD) party is cheering the Brexit vote and UKIP leader Nigel Farage. Beatrix von Storch, an MEP for the party in Brussels, said: "Today is a historic day. It is the UK's Independence Day. The people have spoken; this is direct democracy. Following last night's events, I expect (European Commission president Jean-Claude) Juncker and (European Parliament president Martin) Schulz to stand down."    
  • 06:20

    Our political correspondent, Derek Scally, reports:


    The Cabinet is expected to hold an emergency meeting this morning to assess the fallout of Britain’s decision to leave the European Union.
    The Government will also begin to prepare for the impact of Brexit on Ireland, the prospect of which was repeatedly described as an almost nightmare scenario by Ministers and officials in Dublin.
    Taoiseach Enda Kenny - who led a Government campaign to keep Britain in the EU - is also expected to make a statement from Government Buildings later today.
    It is understood Mr Kenny will not speak until after the most significant events in London, such as a statement by British prime minister David Cameron, have concluded.
    A contingency plan for intense diplomatic and communications with the UK and European institutions will also swing into action with the key aim of protecting Irish interests amid the Brexit fallout.

    Fiach's full article is here.

  • 06:22

    Joe Brennan, Markets Correspondent, says David Holohan, chief investment officer at Merrion Capital in Dubiln has called Irish market down “high single digit percentage” following overnight tumble on Asia.

    UK market point to a call of 9 per cent, while US futures are down by 5 per cent. In Asia, the Nikkei declined by more than 7.5 pe cent.

    “I would anticipate that Ireland will decline by a high single digit percentage on the opening of trade given the high level of exposure to the UK for Irish Plcs,” says Holohan. “Given that markets had positioned for a remain victory in recent days, there will be a significant unwind of positions, exacerbating volatility and causing significant negative price movements.”


  • 06:23

  • 06:26

    Derek Scally, our Berlin correspondent, has just been listening to European Parliament President Martin Schulz on German breakfast television. He expects things to move quickly now, with PM David Cameron activating the EU's exit clause at next week's European Council meeting in Brussels. He said he was confident the Brexit vote would not trigger a chain reaction across the EU but added that no one has an interest in things dragging on with Britain.
    “I expect negotiations will begin quickly. David Cameron cannot ignore this vote of the German people ... The European single market is the strongest single market. Britain has just cut its connection to the single market. I would warn others against going this way.”

  • 06:29

    The Irish business community has reacted with disappointment to the new that Britain has voted to leave the European Union.

    Lobby group Ibec said the UK vote is a "very significant blow the EU, which will lead to a potentially protracted and unwelcome period of uncertainty and instability in Europe."

    Ibec chief executive Danny McCoy said the Irish Government, EU institutions and central banks must do all within their power to minimise instability. He called for Ireland to be involved in any negotiations regarding Britain's exit discussions.

    "It is important that acrimony quickly gives way to pragmatism and that a speedy, mutually beneficially arrangement between the EU and UK is reached. The range of competing interests and concerns make this a difficult task. It is vital that these challenges are overcome and Ireland can play an important role," he said.

    The British Irish Chamber of Commerce said it would support businesses as they deal with the consequences of the referendum result.

    "The chamber will constructively support early steps to bring certainty to the outlook facing employers. (It) looks forward to the UK Government quickly determining its requirements as it negotiates its exit from the EU," said director general John McGrane.

  • 06:31

  • 06:32

  • 06:33

  • 06:37

  • 06:39

  • 06:42

    France's  National Front party called for a referendum on European Union membership in France.

    "The liberty of peoples always wins in the end! Bravo to the United Kingdom," said FN deputy leader Florian Philippot on Twitter. "Our turn now #Brexit #Frexit."


    Marion Le Pen also tweeted that it is now time to "import democracy to France:"

  • 06:43

    This just in from Merrion Street:

    'The Government notes the outcome of the UK EU referendum this morning.  This result clearly has very significant implications for Ireland, as well as for Britain and for the European Union. The Government will meet later this morning to reflect on the result. Following that meeting, the Taoiseach will make a public statement.'

  • 06:47

    Northern Ireland Chamber of Commerce and Industry said a rapid response from the British government is needed as a Brexit will undoubtedly have an impact on business.

    “Northern Ireland is forging out a place in the global economy as well as trading relationships with European neighbours and that work must continue. We are now in a unique position as the only part of the UK with a land border with the EU and that will throw up challenges in terms of new trading arrangements," said chief executive Ann McGregor.

    “There may well be a degree of uncertainty and disruption in the months ahead, especially around certain trade issues. Government must therefore respond rapidly to avoid any uncertainty for business and potential damage to trade and inward investment," she added.

  • 06:49

  • 06:58

    What are the implications for Ireland. Our deputy political editor, Pat Leahy, has justed posted this analysis. Some of his main points are:

    Ireland now faces a series of consequences - and hard choices - in the short, medium and long term.

    Britain and Europe both face a period of economic and political turmoil, and
    Ireland will be deeply affected by this. It is hard to see how the ultimate effects will be anything other than overwhelmingly negative.

    Of course, Border controls will not go up immediately. Trade won’t stop overnight. But this morning’s reactions in the markets are a harbinger of things to come.

    For Enda Kenny’s administration, however long it obtains, the rest of its term of office will be dominated by the fallout from this morning’s result.

    There was at least a period of relative calm in recent weeks, which promised to last until the end of the summer. That period ended in the small hours of this morning.
    Mr Kenny now faces leading Ireland through a period of difficulty and uncertainty unprecedented in the last 50 years, more complex and unpredictable than the recent financial crisis, more destabilising the Northern Troubles.

    Aside from the immediate political and economic effects - which are likely to be considerable and adverse - it will necessitate the remaking of Ireland’s place in the world, as relations between our two biggest trading and political partners are sundered in a manner as yet unknowable.

    The European Union now faces a crisis of its legitimacy, and its member states a crisis of their democracies, as the rise of populist movements of the political extremes is boosted, perhaps towards power. There is also likely to be a period of deep economic recession.
    The history of Europe tells us that these things are not good bedfellows.

    The breakup of the UK now seems closer than ever before, perhaps inevitable whenever the formal break with the EU comes.
    . This break will prompt the most profound questions for Northern Ireland since its establishment as a separate political entity from the rest of Ireland.

  • 07:01
    Sinn Féin has said it will intensify its push for a border poll on a united Ireland following Britain’s decision to exit the European Union. Read Fiach Kelly's report here.
  • 07:06
    The front page of today's New York Times
    The front page of today's New York Times
  • 07:07
    According to our Berlin correspondent, Derek Scally, German foreign minister Frank-Walter Steinmeier has expressed regret at Brexit vote: "The news from Britain is really sobering. It looks like a sad day for Europe and Britain."
  • 07:07

    Joe Brennan, Markets Correspondent, says:

    Europe stock futures plunge after UK decides to exit EU. FTSE 100 futures down 9 per cent an hour before European stock markets are set to open. Futures on Germany’s Dax down 9.5 percent.
    Futures on the Euro Stoxx 50, a benchmark for the broader European market, down 12 per cent

  • 07:08
    Derek Scally in Berlin writes: "Germany's Social Democratic Party (SPD) leader and deputy chancellor Sigmar Gabriel has tweeted: "Damn! A bad day for Europe."
  • 07:12

  • 07:14

  • 07:17
    Joe Brennan, Markets Correspondent, says Standard & Poor’s chief ratings officer Moritz Kraemer has told the FT the UK is likely to lose its AAA credit rating as a result of the Brexit decision. Says rating “is untenable under the circumstances”
  • 07:19
    How grim is this result for Ireland's economy? Here's Cliff Taylor's analysis.
  • 07:22

  • 07:26

    Here's Professor Gavin Barrett's take on what happens now.

    Here's a taste: 'Legally speaking? Ironically, not a lot happens . . .yet. Britain now enters a kind of “phoney Brexit” period. The Brexit vote may have created a political imperative to exit the EU – but legally speaking the vote is advisory only'

  • 07:26
    'The EU's failing. The EU's dying. We now need a Brexit government.' - Nigel Farage.
  • 07:30
    Labour leader Jeremy Corbyn tells the BBC: 'The British people have made their decision. We must respect that result.'
  • 07:31

    Joe Brennan, Markets Correspondent, reports that Investec economist Philip O’Sullivan has said he is likely to cut is Irish economic forecasts for this year and next as a result of the Brexit decision. Investec is currently factoring in 5 per cent Irish GDP growth for this year and 4 per cent growth for 2017.

    Separately, Cantor Fitzgerald’s head of fixed income strategy in Ireland, Ryan McGrath, sees Irish bonds suffering as investors head for the sidelines. He sees the interest rate differential between Ireland’s 10-year bonds and the key German 10-year notes widening to 1 percentage point from 0.67 points yesterday.
    “The domestic strength ought to insulate Ireland to some extent from external shock and we do not think that Ireland’s [bonds] will materially underperform the broader periphery [European bond market].”

  • 07:33

  • 07:35
    Derek Scally in Berlin reports that German finance minister Wolfgang Schäuble has come out with his regrets: "We respect the result of the British referendum. I would have wished for a different result. Now we have to look forward and deal with this situation. For this I am in close contact with my G7 partners. The EU procedure for an exit from the EU is regulated clearly and will be used. The creates reliability. Europe will stand together. Together we have to make the best of the decision of our British friends."
  • 07:38

    The official result as announced by the Referendum Commission in Manchester:


    REMAIN 48.1 per cent (16,141,241)

    LEAVE 51.9 per cent (17,410,742)

  • 07:42

    Meanwhile, in other news...


  • 07:50
    Reuters reports  Poland's Foreign Minister Witold Waszczykowski says Britain's vote to leave the European Union is bad news for Europe and for Poland and it is a signal that some concepts of the block will have to be changed.

    "This is bad news for Europe, for Poland. (...) This is a great dilemma for the eurocrats, we all want to keep the EU, the question is in what shape," Waszczykowski told private broadcaster TV Republika.

    "We will be trying to use this situation to make the European politicians aware why this happened. And it happened because this concept, which was created some time ago, is no longer popular in Europe," he added.

  • 07:52

  • 08:03

    British foreign secretary Philip Hammond says thes decision to vote Leave mean its voice is "now one as a semi-outsider negotiating future arrangements".

    He says the UK cannot expect to have the same voice it had before the referendum.

    "I believe that outcome, economically, will not be as good as it would've been if we'd remained in the European Union."
    He adds that Britain's job now is to get "the very best deal we possibly can" on leaving the EU.

  • 08:07
    Joe Brennan, Markets Correspondent, says Euroepan shares, measured by benchmark Stoxx 600 index, fall almost five per cent in opening trade, with many shares yet to trade. Financials plunge, with Deutsche Bank off 18 per cent.
  • 08:11

  • 08:14

    Keep calm and carry on...


  • 08:15
    Joe Brennan, Markets Correspondent, writes: FTSE 100 slides 8 per cent in London after Brexit vote results  
  • 08:16
    Joe Brennan, Markets Correspondent, says Iseq index falls 17 per cent in early trading.  
  • 08:18
    Media pack waiting for David Cameron to emerge to make a sttement to the press at Downing Street. Rumours swirling that he'll be announcing his resignation.
  • 08:19
    Ryanair slumps 18 per cent, Bank of Ireland slumps 26 per cent  
  • 08:20
    Cameron: 'In a giant democratic exercise, the people have had their say. The British people have voted to leave the European Union and their will must be respected.'
  • 08:21
    Cameron: 'The will of the British people is an instruction that must be delivered. there can be no doubt about the result.'
  • 08:21
    Cameron: 'I would would reassure markets and investors that Britain's ecoonomy is strong.'
  • 08:22
    Cameron: 'This will require strong, determined and committed leadership. I'm very proud to have been prime minister.'
  • 08:24
    Cameron: 'I've always believed we have to confront big decisions, not duck them. It's why I made the pledge to hold the referendum. I fought this campaign the only way I know how. But the British people have made a decision to take a different past. I do not think it would be right for me to be the captain that steers our country to its next destination. W should aim to have a new prime minister in place by the start of the Conservative conference in October.'
  • 08:25
    BREAKING: David Cameron will step down as British prime minister by October.
  • 08:27
    David Cameron very emotional towards the end of that speech.
  • 08:28
    The new prime minister will be responsible for  triggering Article 50 to begin the process of negotiated exit from the EU.
  • 08:30
    So that means that Article 50 will not be triggered until after the Conservative party conference in October. This contradicts his previous assertion that Article 50 should be triggered immediately.
  • 08:39

  • 08:41

    Here's a video clip of Cameron's speech.

  • 08:49
    Governor of the Bank of England Mark Carney speaking now: 'Inevitably there'll be a period of uncertainty and adjustment. Some market volatility can be expected but we are well prepared for this. The Bank of England will not hesitate to take additional measures as required.'
  • 08:51

    Amanda Ferguson reports from Belfast:

    The First Minister and DUP leader Arlene Foster has given her reaction to the Brexit result on Radio Ulster.

    "I think that this is a good result for the United Kingdom.

    "Our nation state has made a clear definition of where they want to go.

    "They backed hope, they backed aspiration, the backed the future potential of the United Kingdom and I am very pleased with the result.

    "We always knew it was going to be difficult to get a leave vote in Northern Ireland given that four out of the five main parties were advocating a remain vote.
    "I am very pleased with the result this morning."

    On Deputy First Minister Martin McGuiness calling for a border poll she said: "He calls periodically for a border poll but I think everybody knows if you look at the test for a border poll that test has not been satisfied and therefore the Secretary of State will not call a border poll."

    Mrs Foster believes Mr McGuinness is being opportunistic.

    "There is no way even if there was a border poll that it would be favour of a united Ireland.
    "People very clearly have moved to the position where they are quite content with the constitutional position of Northern Ireland within the United Kingdom."

    Mrs Foster said her plan in the time to come is to be "as involved as possible in the exit negotiations".

    Deputy First Minister Martin McGuinness said people in the North of Ireland had rejected Brexit.

    "There is notice on the British government to respect the democratic wishes of the people of the North and we in Sinn Fein will not be seeking to engage urgently with the EU institutions to examine the proposed impact on the North which I think will be very profound.
    "We are in uncharted waters.

    "The British government has no democratic mandate to represent the views of the North in any future negotiations with the European Union.

    "I think there is a democratic imperative for a border poll.

    "I think the fact we have seen a situation where 56% of the people of the North, who were unionist and nationalist, republicans voted together to stay in Europe further strengthens the case for a border poll.

    "This result will have very profound implications for us and yes given we are in a two party coalition with the DUP supported by Claire Sugden as an independent and a justice minister we do have a duty and a responsibility to work our way through the huge challenges we are going to face in the time ahead.
    "Not least the economic challenges in terms of our ability to attract foreign direct investment against the backdrop of this decision and the very real danger that some of the successes we have had over the course of the recent years attracting foreign direct investment could possibly depart our shores.
    We no longer represent a near shore location for them into Europe."


  • 08:58

    This update from Markets Correspondent Joe Brennan:

    Irish and other European shares plummeted in early trading as investors globally scrambled for cover, having been caught off-guard by Britain’s decision to leave the EU.
    The Iseq index plunged 17 per cent to its lowest level in almost a year and a half, to 5.286.6 points, within minutes of trading getting underway in Dublin. It has subsequently rallied off its lows, to trade down 11 per cent.
    Financial stocks led decliners, with Permanent TSB, which is seeking to sell its UK loan book, sliding 31 per cent and Bank of Ireland, which has more than 40 per cent of its lending exposed to the UK, losing 24 per cent.
    In London, the FTSE 100 lost 8.7 per cent, while Germany’s Dax index dropped as much as 10 per cent.
    “The future of the EU is the most challenged it has ever been -- and at its bleakest point,” said David Holohan, chief investment officer at Merrion Capital in Dublin.

    "The British government has no democratic mandate to represent the views of the North in any future negotiations with the European Union.

    "I think there is a democratic imperative for a border poll.

    "I think the fact we have seen a situation where 56% of the people of the North, who were unionist and nationalist, republicans voted together to stay in Europe further strengthens the case for a border poll.

    "This result will have very profound implications for us and yes given we are in a two party coalition with the DUP supported by Claire Sugden as an independent and a justice minister we do have a duty and a responsibility to work our way through the huge challenges we are going to face in the time ahead.
    "Not least the economic challenges in terms of our ability to attract foreign direct investment against the backdrop of this decision and the very real danger that some of the successes we have had over the course of the recent years attracting foreign direct investment could possibly depart our shores.
    We no longer represent a near shore location for them into Europe."


    More here.


  • 09:06
    <p>Jeremy Corbyn   watches Prime Minister David Cameron as he speaks outside 10 Downing Street after Britain voted to leave   the European Union. REUTERS/Toby Melville</p>

    Jeremy Corbyn  watches Prime Minister David Cameron as he speaks outside 10 Downing Street after Britain voted to leave  the European Union. REUTERS/Toby Melville

  • 09:07
    Reuters reports Spain will seek co-sovereignity on Gibraltar following Britain's vote to leave the European Union, acting foreign minister Jose Manuel Garcia-Margallo said on Friday, saying the vote completely changed the outlook on the future of the peninsula.  
  • 09:25

  • 09:37

    Suzanne Lynch in Brussels looks at what the process of extricating Britain from the EU might entail.

    'Article 50 is the clause in the EU treaty that refers to a withdrawal from the European Union.

    The brief, five-clause article, states that once the article is invoked, a two-year period is set in train, though it could be extended if the EU members states decides to extend the period.'

    Read the full article here.

  • 09:43

    So what does The Donald think?


  • 09:48

    In the unlikely event you haven't already read Article 50 of the Treaty on European Union, here it is:


    “Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements.
    A Member State which decides to withdraw shall notify the European Council of its intention. In the light of the guidelines provided by the European Council, the Union shall negotiate and conclude an agreement with that State, setting out the arrangements for its withdrawal, taking account of the framework for its future relationship with the Union. That agreement shall be negotiated in accordance with Article 218(3) of the Treaty on the Functioning of the European Union. It shall be concluded on behalf of the Union by the Council, acting by a qualified majority, after obtaining the consent of the European Parliament.
    The Treaties shall cease to apply to the State in question from the date of entry into force of the withdrawal agreement or, failing that, two years after the notification referred to in paragraph 2, unless the European Council, in agreement with the Member State concerned, unanimously decides to extend this period.
    For the purposes of paragraphs 2 and 3, the member of the European Council or of the Council representing the withdrawing Member State shall not participate in the discussions of the European Council or Council or in decisions concerning it. A qualified majority shall be defined in accordance with Article 238(3)(b) of the Treaty on the Functioning of the European Union.
    If a State which has withdrawn from the Union asks to rejoin, its request shall be subject to the procedure referred to in Article 49.”

  • 09:52

    Lara Marlowe reports from Paris:


    President Francois Hollande and Prime Minister Manuel Valls will speak later. Here are reactions of French politicians by mid-morning:
    Florian Philippot, vice president of the extreme right-wing, europhobic Front National: “I’m very happy to see that the people have reclaimed their rights. The British have just given us a beautiful lesson in democracy. Now we need a referendum in France.”
    Marine Le Pen, leader of the Front National, on Twitter: “As I’ve been saying for years, now we need the same referendum in France.”
    Marion Maréchal Le Pen tweeted “Victory!” in English.
    Presidential candidate Bruno Le Maire, from the conservative party Les Républicains (LR), wants a referendum too, but for or against a “new European project”. Le Maire says France will not leave the EU: “The EU belongs to the history of France.”
    Alain Juppé, who is the leading presidential candidate for LR: “It’s a historic shock for Great Britain. It’s a historic shock for us too. The biggest error we could make would be to think the other 27 can continue as before. We cannot go on as before. We must write a new page, a new chapter of European history.”
    Francois Bayrou, leader of the centrist party MoDem, criticised President Francois Hollande: “He has said nothing on the subject of Europe. There’s an absence of ideas on Europe, when for the French there is no other future.”
    Former foreign mininster Hubert Védrine said the “Franco-German couple” must come up with a “plan B”: “France and Germany must manage to agree, because that’s the only right way to respond. If they don’t have a ‘plan B’ they’ll find one.”
    Foreign minister Jean-Marc Ayrault tweeted: “A sad day for the United Kingdom. Europe continues, but it must react and regain the confidence of people. It’s urgent.”
    Former green party leader Cécile Duflot tweeted: “This is what happens when Europe is confiscated by technocrats and economic liberals.”
    Leader of the far left parti de gauche and MEP Jean-Luc Mélenchon: “It’s a lesson for all of Europe. Either we change it or we leave it.”
    Socialist party leader Jean-Christophe Cambedelis: “Now that Britain has left the EU, it’s time for Europe to come out of its torpor.”
    Former MEP Daniel-Cohn Bendit appealed to President Hollande: “Get moving Francois! Come on! With Angela say, ‘Here is the plan that France and Germany are proposing for Europe. This is how we we’re going to go forward with European investment and social Europe’.”

  • 10:10

    Tony Blair on the referendum result.

  • 10:15
    "In looking for security and stability, the English have launched themselves into one of the most unstable and uncertain periods in their modern history." Read Fintan O'Toole's take on the result here.
  • 10:35

    Amanda Ferguson reports from Belfast:


    SDLP Leader Colum Eastwood MLA has said Ireland's interest, North and South, remains as part of the European Union.

    Mr Eastwood said: “Yesterday Northern Ireland voted to remain as part of the European Union. Ireland's rightful place is at the heart of Europe. That was true yesterday, it remains true today.

    “This new reality requires careful and considered thought.

    “There can be no return to a physical border across this island. There must remain freedom of movement for people, goods and services across Ireland.

    "The negotiation to come must ensure that any border is only operational around the island of Ireland and not across it. This result must now ensure the full and fast integration of economic interests across Ireland.

    “I will now be speaking with the leaders of Dublin parties to advance this work. I will open discussions on how we can defend the interests of the people of Ireland, North and South.

    “As a continuing member of the European Union, the Irish government wields significant influence that it can exercise during the course of Brexit negotiations.

    “The Taoiseach is now the most important person on this island in deciding Ireland's relationship, North and South, with the European Union. His government has huge influence in this upcoming negotiation. He must now be a powerful voice on our behalf."


  • 10:36

    Lara Marlowe reports from Paris:

    The former conservative prime minister and presidential candidate for Les Républicains, Francois Fillon, wrote in a communique that «The EU’s bureaucracy and inability to respond to the great challenges of our time » have been condemned.
    "The European ideal has been in limbo for years," Fillon wrote.  "It’s urgent to change the way the EU is organised. The role of nations must be reaffirmed, for Europe is not a federal state… The sovereignty of nations must be respected. The divorce between the EU and the UK must take place calmly, without bitterness. A new page must be written in Franco-British relations. In particular, it is crucial to maintain military links between France and the UK. "

  • 10:40

    In our special World View podcast, Denis Staunton in London, Suzanne Lynch in Brussels and Patrick Smyth in Dublin discuss the events of the last few hours and what happens now.

  • 10:45

  • 11:06

  • 11:16

    At a Vote Leave press conference, Boris Johnson has paid tribute to David Cameron as a “brave and principled man” and praised his “compassionate Conservatism”. . He said holding the referendum was “right and inevitable”. It was about the right of people to elect people who make key decisions in their lives. “They have decided to vote to take back control,” he said.

  • 11:21

  • 11:23
    Boris Johnson: "Above all we can find our voice in the world again. Powerful, liberal, humane, an extraordinary force for good. Yesterday the British people have spoken up for democracy."
  • 12:12

    Statement just in from Ulster Unionist MEP, Jim Nicholson, whose party campaigned for remain.
    Mr Nicholson has questioned what Stormont and the British government intend to do to "protect jobs and stabilise the markets in the short term".
    "The people of the United Kingdom have spoken and now is the time for Northern Ireland and the country as a whole to come together, not least as two nations of the United Kingdom, and a substantial numbers of voters opted for Remain. I am disappointed by the result, but I respect it - we have much more in common than divides us and the task facing us is now to implement this outcome in the best way possible.

    "Throughout the campaign those advocating Brexit gave no clear or unified vision as to what Leave looks like and as we can see the markets are reacting to the uncertainty associated with the referendum result.

    "Make no mistake, as the process to negotiate new arrangements unfolds we are in unchartered territory, politically and economically. What will the UK Government, and locally the NI Executive, do to protect jobs and stabilise the markets in the short term as the nature of our exit is thrashed out? In the longer term what will be put in place to ensure our farmers are supported and that agri-food and businesses in general will not face barriers to trade?

    "We owe it to our voluntary and community sector, our agri-food industry, those involved in projects reliant on EU financing and our economy as a whole to get the best possible deal as we go forward as the decision to leave the EU is implemented.

    "Already producers locally will be waking up to the news that, as predicted, the value of the Pound has dropped significantly. These uncertainties will, I fear, continue at least in the short term.

    "We are a great country. It is now up to all those of us who believe in the United Kingdom of Great Britain and Northern Ireland to fight to hold our country together."


  • 12:14

    Denis Staunton, London Editor, reports:

    Tony Blair has said the British government should search for a “creative way” to maintain the Common Travel Area between Ireland and the UK. Speaking in London shortly after the final result of the referendum was announced, Mr Blair said it was important to protect the peace process in the North.
    “I think if it is at all possible we need to find a way to keep the Common Travel Area because the Common Travel Area between North and South has been an important part of acknowledging the nationalist and republican sentiment in the North,” he told The Irish Times.
    “So I think we have to see how we can do that, although speaking now I can’t see what that is because once the Republic of Ireland becomes the border with the European Union, then it’s quite hard to see how the free movement of people is maintained. However, there may be a creative way around it and we should certainly search for it because it’s very important that we protect the peace process in Northern Ireland.”

  • 12:19
    The BBC reports that two Labour MPs have submitted a motion of no confidence in Labour leader Jeremy Corbyn.

    Margaret Hodge and Ann Coffey confirmed the move in a letter to the chairman of the Parliamentary Labour Party.
    The motion has no formal constitutional force but calls for a discussion at their next PLP meeting on Monday.
    It will be up to the PLP chairman to decide whether it is debated. If accepted it would be followed by a secret ballot of Labour MPs on Tuesday.

  • 12:20
    Enda Kenny is speaking now. 'Britain and Ireland have always worked together very well. I'm very sorry at the result of the referendum. However, the British people have spoken clearly and we respect their position. There will be no immediate change.'
  • 12:22
    Kenny: We have engaged in detail planning for the contingency of this result. Our primary objecvtive remains to protect and advance this country's interest. Will brief Opposition leaders this afternoon. The Dail will be recalled on Monday.
  • 12:23
    The Min for Finance will continue to  monitor developements. the implications for Northern Ireland will be a particular priority for the government. Welcomes statement by British PM that interests of NI will be fully reflected in negotiating position of British government.
  • 12:24
    The Government will do its utmost to maintain the Common Travel Area. We are acutely aware of concerns will be felt by the many thousands of Irish people in Britain. These concermns will be in our thinking.
  • 12:25
    Kenny - The other concern is about the impact on EU itself. Ireland will of course remain within the EU. This is profoundly in our interest.
  • 12:26
    Kenny - will set out our position at Council of Ministers next week in advance of the start of negotiations. we must take this breathing space and use it wisely.
  • 12:28
    Kenny - express my best wishes to prime minister David Cameron. He has made a decision this morning which he beleieves in is best interests of his country. Wish him and Samantha and his children all best for future. Finally, ireland's strong and very close relationship with the UK will continue.
  • 12:30

    A word from a member of the Irish football team.


  • 12:32

  • 12:33

  • 12:35

    This just in from Suzanne Lynch in Brussels

    The EU’s top officials have called on the British government to give effect to the referendum result “as soon as possible, however painful that process may be” in the first official EU response to the referendum result.
    The comments put the EU at odds with British Prime Minister David Cameron who said this morning that he expects the British government to invoke Article 50 of the EU treaty only when a new leader is in place.
    In a joint statement by the heads of the European Commission, Parliament and Council, the EU’s top officials said that “any delay would unnecessarily prolong uncertainty”
    “We now expect the United Kingdom government to give effect to this decision of the British people as soon as possible, however painful that process may be.”
    The robust response was in line with comments from Manfred Weber, head of the European Parliament’s largest political party, the EPP who said that the EU cannot wait for the Conservative party to replace David Cameron. “Exit negotiations should be concluded within two years at max. There cannot be any special treatment. Leave means leave.”
    EU leaders are due in Brussels next week for a pre-scheduled summit on Tuesday and Wednesday. In addition, the EU’s 27 leaders will meet without the British prime minister on the sidelines of the summit.
    Asked if the British vote was the "beginning of the end of the EU", European Commission president Jean-Claude Juncker replied "No", and immediately left a press conference in the European commission headquarters in Brussels.

  • 12:50
    he Republic should avoid “aggressively” poaching international firms operating in the UK after British voters decided to quit the EU after four decades, according to a former grandee of Dublin’s International Financial Services Centre. Full story here.
  • 12:50
    Snap report on the Taoiseach's statement from Fiach Kelly

    The Dáil is to be recalled on Monday to discuss the fallout from the British decision to withdraw from the European Union, Taoiseach Enda Kenny has said.
    Mr Kenny also said the decision on when Britain should formally begin the process of negotiating an exit from the EU is matter for the UK government.
    British prime minister David Cameron this morning said the negotiations will be a matter for his successor, who should be in place by October. The European Commission, however, said the process must begin as soon as possible.
    At a press conference, Mr Kenny supported Mr Cameron's position and said the negotiations mys be given "breathing space".

  • 12:53
    From Lara Marlowe in Paris

    President Francois Hollande, Prime Minister Manuel Valls and the leader of the extreme right-wing Front national Marine Le Pen all made live, televised speeches on the results of the British referendum.
    Mr Hollande called the vote “a painful decision that I profoundly regret.” But “France will continue to work with this great country, who is a friend, bound by history and geography,” he said. Close economic, cultural and defence cooperation will be preserved, he promised.
    The result of the referendum “seriously tests Europe,” Mr Hollande continued. “Europe must show its solidity and strength by providing the responses needed to master the economic and financial risks of the deaprture of the UK.
    “It always takes less time to undo than to do, to destroy than to build,” Mr Hollande continued. “France, a founding member of Europe, will not accept that… To go forward, Europe can no longer function as before… France will take the initaitve so that Europe concentrates on the essential.
    “Europe is a great idea, not only a market. It is doubtless because we forgot that that Europe is losing itself… History is knocking at our door,” Mr Hollande said, promising that he “will do everything” to promote “profound change” rather than allow his country “to turn in upon itself.”
    Mr Valls said the British decision “reveals a malaise that was ignored for too long.” Europe had “closed its eyes to the warnings and doubts expressed by the European people.” To continue as before “would risk the dislocation of Europe… This is the time to reinvent and refound another Europe, by listening to the people.”
    Ms Le Pen was ebullient and triumphant when she congratulated the leaders of the Brexit campaign and the British people on “a brilliant lesson in democracy” and reminded media that she has demanded just such a referendum since 2013. “What no one had envisaged a few months ago is now a reality that must be acknowledged by all: Yes, it is possible to leave the European Union,” Le Pen said. “Neither the EU nor the euro are irreversible.”
    Le Pen said the Front national was the only French party to take a great interest in the UK campaign. “Henceforward, this European debate on sovereignty affects all of us,” she said. “Europe will be at the heart of the next (French) presidential campaign… The UK has just initiated a movement that will not stop…. The movement towards the end of the EU as we know it has begun.”

  • 12:55

    From Reuters:


    Britain's vote to leave the European Union is deeply regrettable and marks a watershed moment for European integration, German Chancellor Angela
    Merkel said on Friday.
    Merkel told reporters she had invited the leaders of France and Italy as well as the European Council president to Berlin on Monday to discuss how to secure European unity after Britain referendum vote to quit the 28-member bloc. "We have to recognise the decision of the majority of the British people with deep regret today," she said. "There is no point beating about the bush: today is a watershed for Europe, it is a watershed for the European unification process."
    Merkel said Germany had a particular interest and responsibility in European unity succeeding. "I have therefore invited EU Council President Donald Tusk, French President Francois Hollande and Italian Prime Minister Matteo Renzi to Berlin for talks on Monday."
    Merkel said it was important that all the other 27 EU member states analysed the situation together in a calm and sober manner and did not rush into any decisions

  • 13:20

    Handing over now to my colleague Rachel Flaherty, who will continue to update this liveblog through the afternoon. Thanks for reading. I'll sign off with this podcast which we just recorded with Pat Cox, Pat Leahy and Cliff Taylor.

  • 13:35
    Good afternoon everyone. I will bring you all the latest from Britain's decision to leave the European Union and what will this mean for Ireland. Contact me on Twitter @rachelfl , Rachel Flaherty
  • 13:37
    Fergus Finlay, chief executive of Barnardos, is painting a possible future for Christmas. It's disturbing.

  • 13:40

    Michael Noonan moves to calm to fears of Irish people...


    Minister for Michael Noonan maintains that the Brexit result is not catastrophic for Irish fiscal policy.


    A Brexit plan was included in the Summer Economic Plan announced earlier this week, he said.


    “I can assure the Irish people that because of the complexities, this will have little or no impact on Budget 2017. It might have some impact on future budgets,” he said.


    “It is impossible to calculate exactly what impact it will have on subsequent budgets.”


    The Minister told RTE’s News at One that if the Euro stays strong and the pound weakens then there may be some impact, but at present they are in tandem.


    “We will have to monitor the situation. This is only the first day.”


    There will be no triggering of the mechanism to withdraw until a new prime minister is chosen, he said.


    “It is a matter for the UK when to trigger Article 50. They have two years to exercise that option. It will be a matter for the new Cabinet and that won’t happen until October.”


    He said from an Irish perspective it is in Ireland’s interest that the two countries continue to trade freely as they have always done.

  • 14:13
    Will they come to Dublin?
  • 14:15

    No UK flag

  • 14:23

     Irish Government publishes Brexit contingency plan

    The Government has adopted and published a new contingency plan to deal with key issues affecting Ireland in the fallout from the British EU referendum.
    Issues will be tracked during the immediate aftermath of the referendum, the period leading up to the negotiations between the UK and the EU on an exit and during the negotiations themselves.
    The priorities identified by the Government include the negotiations on a British departure from the EU; British-Irish relations; Northern Ireland; trade; investment; North-South Border impacts; competitiveness and macro-economic issues and research/innovation funding and energy.
    More areas will be added “as the terms and conditions of the new UK/EU relationship evolve”, a Government statement said. The areas identified by the contingency framework will be managed by Government departments and co-ordinated by the Department of the Taoiseach.
    A senior official in each Government department has already been appointed to have responsibility for the contingencies.
    investment; North-South Border impacts; competitiveness and macro-economic issues and research/innovation funding and energy.
    More areas will be added “as the terms and conditions of the new UK/EU relationship evolve”, a Government statement said. The areas identified by the contingency framework will be managed by Government departments and co-ordinated by the Department of the Taoiseach.
    A senior official in each Government department has already been appointed to have responsibility for the contingencies.

  • 14:30

    Russian president Vladimir Putin has his say on the British vote:
    "I think it is understandable why this happened: first, no one wants to feed and subsidise weaker economies ...
    "(Second), people are apparently dissatisfied with the resolution of security issues, which has become more acute against the background of powerful migration processes."

  • 14:32

    Joe Brennan, Markets Correspondent:

    Morgan Stanley has denied media reports that it plans to move 2,000 investment banking jobs to Dublin and Frankfurt. Company says Brexit impact won’t be known for some time.

    The speculation resurfaced on Friday after a top executive at the firm said earlier in the week that UK quitting the EU could prompt it to move its European headquarters from London to Frankfurt or Dublin.

  • 14:35

    Obama: "We respect their decision"

    US president Barack Obama said he respected Britain’s vote to leave the European Union, and that the United States' relationship with Britain would endure.
    "The people of the United Kingdom have spoken, and we respect their decision," Mr Obama said in a statement.

    "The United Kingdom and the European Union will remain indispensable partners of the United States even as they begin negotiating their ongoing relationship."

  • 14:39

    Dow Jones Industrial Average falls more than 500 points, or almost 3 per cent, on Wall Street – most since mid-January.

    Wall Street reaction to Brexit follows on from heavy selling across European stock markets today. The Iseq currently trading down 9.4 per cent, having fallen as much as 17 per cent earlier in the session.


    Joe Brennan, Markets Correspondent reports
  • 14:47

    Brexit vote sparks surge in online interest in Irish passports


    The fallout from the Brexit vote has sparked a surge in online interest in Irish passports and moving to Ireland.
    As world politics and money markets reeled from the poll, data from Google showed queries on citizenship in the Republic began to increase on Thursday evening and peaked in the early hours of the morning.
    Likewise from lunchtime on referendum day searches on the web for information about moving to Ireland began to heat up and peaked in the early hours of Friday.
    GoogleTrends said UK searches for “getting an Irish passport” jumped more than 100 per cent after the Brexit result came through.  PA

  • 14:56

  • 15:07

    Hillary Clinton reacts

  • 15:11

  • 15:18

    Irish Times view: Brexit a bewildering act of self-harm


    ‘Dare to dream that the dawn is breaking on an independent United Kingdom, ” Nigel Farage boasted this morning. Dream on. The truth is that the shocking decision of the UK to leave the European Union, genuinely bewildering to its friends and allies across the Irish Sea and the continent, will leave the kingdom neither independent nor united. It will be poorer, more isolated and less influential.

    Our neighbours have inflicted a deep wound on their country, economically and politically. And they may well have set in train its disintegration as Scotland  and  Northern Ireland  demand that their expressed preferences be respected. They have dealt a seismic blow to the long-term viability of the EU – around Europe the forces of euroscepticism and xenophobia have received a perhaps irresistible boost. They have also almost certainly plunged not only themselves but Europe into recession – the swift and sudden response of the markets bodes ill.

    No man is an island, no more than any nation. In this age we are no longer alone masters of our fate. Interdependence in globalised markets and in the face of political turmoil and instability that rolls across the world in great tides makes the idea of pure “independence” a utopian dream of the past, of the days of empire.

    The mantra “Take back control” is an easily-sold, demagogic delusion. The choice for all of us is not between standing resolutely alone and voluntarily co-operating with those around us, the issue is  how  we co-operate. Sovereignty consists in the ability to affect decisions, the ability to get things done. Shared, it is not diminished, but enhanced. To deny such realities, Canute-like, is to stand against the movement of history. To will sovereignty is not to create it.

  • 15:27

  • 15:36

    French National Front Leader hails Brexit decision

    The leader of the National Front in France has hailed Britain’s decision to leave the EU — and has called for France to hold a similar referendum.
    Speaking during a press conference with a backdrop saying “Brexit — and now France”, Marine Le Pen said the choice for Britain to leave was a “historic moment”.
    She said: “That which no-one dared to dream about a few months back is now a reality which is clear to everyone: yes, it’s possible to leave the EU.
    “The British people have given to the Europeans, and also the world, a dazzling lesson in democracy.”

  • 15:42

  • 15:48

    ‘I’m in shock. I feel lost’: Irish in Britain respond to Brexit


    “I’m in shock. I feel lost. There’s a sentiment of anger in London today. The tube to work was eerily silent with everyone glued to their phones. One of my British colleagues said she feels like a terrorist attack has taken place. I moved here three years ago but the UK I woke up in is fundamentally different to one I have grown to love. The results were so close in some parts. I can’t help thinking that the travel disruption in London yesterday had quite a big impact on people getting to polling stations.”

    Lauren Costello (25), Hammersmith in London


    “I’m a secondary school language teacher and my faculty is comprised of English, Welsh, German, Spanish and Irish teachers. We got an email from our head of faculty at 6am saying he had never felt more ashamed to be British.

    I don’t plan on staying here now long term. The campaign has revealed a rotten, intolerant xenophobic element in British society.”

    Jude Flores (41), teacher, Bedfordshire

    To read the full article click here
  • 16:01
    Samantha Cameron watches her husband, prime minister David Cameron,   as he delivered his speech in response to the result of the EU referendum. Photograph: Will Oliver/EPA
    Samantha Cameron watches her husband, prime minister David Cameron,   as he delivered his speech in response to the result of the EU referendum. Photograph: Will Oliver/EPA
  • 16:04

  • 16:15

    ‘What is going to happen the future of Northern Ireland?’

    Amanda Ferguson hit the streets to ask voters in Belfast what they thought about the EU referendum result

    There was some uncertainty among voters on the streets of Belfast city centre about what the future holds after the Brexit result . Almost 56 per cent of people in Northern Ireland voted to remain.
    Among those who voted to remain were consultant Catherine McConville. “It will be interesting to see what is a big risk,” she said.
    “They are finding out today that a number of the fact stated previously aren’t true at all.
    “It could be Trump and Boris by the end of the year and that sounds horrific.”
    Outside the cobbles at city hall a taxi driver from north Belfast, who voted remain, said he was very disappointed.
    “There is a lot of uncertainty of that there is no doubt.
    “The thing I want to know is what is going to happen to the future of Northern Ireland and the Scottish people?
    “We had a referendum here where the vast majority of people wanted to stay in and the vote went against them so in other words they are entitled to a bigger referendum regarding the border.”
    Helen McDonagh voted to remain and is concerned about what the future holds. “I voted to stay but it’s all the one to us, it’s the government that gets everything,” she said. “Normal people never get nothing.
    “There will be the Free State border now......It will be damaging.”
    Full time mother Sarah Stuart (30) voted leave as she was influenced by what she perceives as the persecution of Christians and the focus on only certain people’s human rights in the legal system.
    “There seems to be one rule for one and one for the other,” she said.
    “Look at the Ashers’ (gay cake) case.
    “You have people targeting Christian bakeries asking them to bake a cake supporting a cause you don’t support.”
    She added: “The British should have more of a say in their own dealings and be able to voice their opinions.”
    Trainee teacher Rob Moffett (21) voted remain and says it is “ difficult to know what is going to happen” .
    “I am not disappointed but a bit worried about seeing what the changes will be.
    “I wasn’t really sure about why we needed to leave so we will see what the changes are and just have to deal with them.”

  • 16:23

  • 16:26

    Corbyn cancels his scheduled appearance

    Jeremy Corbyn cancelled his appearance at   Glastonbury after the referendum result. The Labour leader had been scheduled to speak on Sunday at an event called Jez We Can: Jeremy
    Corbyn in Conversation. A spokesman confirmed he would be “focusing on the issues” thrown up by the “momentous” vote rather than travelling to Worthy Farm. PA

  • 16:50

    Retail industry

    Shares in British retailers were hammered today as the country's decision to quit the European Union hit sterling and raised the prospect of another recession.
    Some of Britain's best-known retailers, including Marks & Spencer, Next, Debenhams and Sports Direct, endured record intra-day falls as the cost of Britain's retreat from Europe was priced in.
    Supermarkets Tesco, Sainsbury's and Morrisons suffered double-digit percentage falls.
    Analysts highlighted the double whammy of likely weakened UK consumer sentiment and the sourcing pressures of a devaluing pound after sterling collapsed to its lowest level versus the US dollar since 1985. PA

  • 17:01

    Latest on the markets

    London’s FTSE 100 index ended the day down 2.8 per cent, well off the 8.7 per cent decline seen at the start of trading as investors recoiled at the UK’s decision to exit the EU.

    However, markets elsewhere in Europe fared much worse, with traders highlighting that investors are concerned about a “domino effect” following the historic UK vote.
    Spain’s market plunged 12.4 per cent as the country holds a general election on Sunday – it’s second in six months.

    Ireland’s Iseq, which hasn’t officially closed yet, last traded down 7.7 per cent, though well off the 17 per cent decline earlier in the day.

    Joe Brennan, Markets Correspondent

  • 17:08

    Spain seeks to jointly govern Gibraltar


    Spain will seek to jointly govern Gibraltar with Britain following the British vote to leave the European Union, acting foreign minister Jose Manuel Garcia-Margallo said today.
    The peninsula on Spain's south coast, a British territory since 1713 known to its 30,000 residents as "the Rock", is a major point of contention in Anglo-Spanish relations.

    Spain has long claimed sovereignty over the enclave.
    "It's a complete change of outlook that opens up new possibilities on Gibraltar not seen for a very long time. I hope the formula of co-sovereignty - to be clear, the Spanish flag on the Rock - is much closer than before," Garcia-Margallo said.
    Chief Minister of Gibraltar Fabian Picardo told the territory's parliament there would be no talks on such a deal. Co-sovereignty with Spain was rejected by around 99 per cent of Gibraltarians in a referendum in 2002. Reuters

  • 17:18

    Will more countries follow Britain's lead?

    Germany is worried that France, the Netherlands, Austria, Finland and Hungary could also seek to leave the European Union after Britain’s vote to quit the bloc, German newspaper Die Welt said today, citing a finance ministry strategy paper.
    The strategy paper recommended that Germany, in coordination with the EU, offer Britain "constructive exit negotiations" aimed at making the UK an "associated partner country," the newspaper reported.
    It estimated Germany's contribution to the annual EU budget could rise by 3 billion euros once Britain exited the group.

  • 17:46

  • 17:51

    What can be said about this?


  • 18:15

    Sterling and shares plummet as investors rush for Brexit cover

    Ireland’s Iseq fell as much a 17% Friday before rallying off lows


    Sterling suffered its sharpest-ever fall and investors scrambled out of Irish and European shares on Friday as financial markets globally were caught off-guard by Britain’s historic decision to leave the EU.

    However, shares moved off their lows after Bank of England’s governor, Mark Carney, said his institution was ready to pump billions of pounds into the financial system to support markets and wouldn’t hesitate to take further measures, if needed.

    “The currency markets have been particularly volatile, while European equities -- while down sharply -- probably have a further 5 per cent or 6 per cent downside risk from these levels,” said Brian Devitt, a senior equities research analyst with Goodbody Stockbrokers, adding that he sees the market downgrading its earnings expectations for European companies in the near term.

    Joe Brennan, Markets correspondent

  • 18:33

    Britain vows to remain in remain in diplomatic power

    Britain's United Nations ambassador asserted today  that the country's strength as a world power would not be weakened by its exit from the European Union and vowed that London would never give up its UN  Security Council veto.
    Britain voted on Thursday to leave the European Union, which it joined more than 40 years ago, forcing the resignation of prime minister David Cameron and sending global financial markets into a tailspin.
    "The UK is and will continue to be a diplomatic power. The UK is and will continue to be a permanent member of the Security Council. We take those responsibilities incredibly seriously," Britain's UN  Ambassador Matthew Rycroft told reporters.
    Britain is one of five permanent veto-wielding powers on the 15-member Security Council. The other permanent members are France, the United States, China and Russia. Reuters

  • 18:36

  • 18:41

    EU presidency due to rotate to UK in 2017
    There is no law that allows a member state to relinquish its role in taking on EU presidency

    The UK is scheduled to take on the Presidency of the European Union on July 1st of next year, at a time when the effects of its Brexit referendum result are likely to be the biggest issue confronting the union.
    Under the treaty provision governing the departure of a member state from the EU, the departing state continues to take part in the work of the EU’s various bodies up to the date of its departure, but refrains from taking part in any discussions linked to negotiations as to its withdrawal or its future relationship with the union.
    There is nothing in law that provides for a member state to relinquish its role in taking on the Presidency of the EU, which rotates among members and lasts for six months. What to do about the UK’s pending presidency is likely to be one of the early issues to be dealt with when it makes its formal application for departure and negotiations begin.


    Colm Keena has the full story

  • 18:55

    Corbyn rejects calls to resign

    Jeremy Corbyn has rejected calls for his resignation amid growing fury at his failure to galvanise the party’s traditional supporters to turn out for Remain.
    The Labour leader is facing a vote of no confidence from some of his MPs, with one senior source describing the mood within the party as one of “utter devastation”.
    But Mr Corbyn insisted he will be carrying on and “making the case for unity” ahead of a potential general election once David Cameron’s successor is chosen by the Conservatives.
    He also questioned whether the approach of Dame Margaret Hodge, who submitted her no confidence motion to the Parliamentary Labour Party (PLP), was a good idea due to “massive political issues” which need to be dealt with following the Brexit result.
    Labour MPs are fearful the resignation of Mr Cameron as prime minister could trigger a general election before the end of the year, with critics of Mr Corbyn warning they needed to act to prevent a catastrophe at the polls. PA

  • 18:58

  • 19:02

    Petition for a second referendum crashes site

    A campaign for a second EU referendum caused the House of Commons petitions website to crash after it experienced a higher volume of simultaneous users than ever before.

    The petition surpassed 140,000 signatures on Friday afternoon.

    A House of Commons spokeswoman said: “The site was temporarily down due to exceptionally high volumes of simultaneous users on a single petition, significantly higher than on any previous occasion.

  • 19:04

  • 19:11

    ‘We’re all proud to be British again’ while others lament ‘stupidness’ of poll: ‘It shouldn’t have come down to a cheap vote’

    Patrick Freyne spoke to   some passionate Leave supporters today.


    In a butchers in Chingford at 6.55 in the morning, butcher Andrew Shaw is embracing retired school teacher Mike Burke.
    “We did it,” he’s saying. “We bloody did it.”
    “We’re all in a bit of a dither here this morning,” explains Shaw when I introduce myself. “All excited.”
    “Are we going to be on an IRA hit-list?” chuckles his colleague Bill Machie as I scribble their names down in a notebook.
    Why are they so happy? “We’re all proud to be British again,” says Shaw. “We’re tired of being pushed around.”
    Burke was a local campaigner for Leave. He thinks the referendum was important because “we’ve been allowed to come out and say what we really feel about European immigration”.
    They start to talk about what they perceive as the pressure on services caused by this.
    We’re not xenophobic,” says Burke. “My dad came over from Ireland. ”
    “And my great grandparents were Portuguese,” says Machie.

    Full article click here


  • 19:16

    Consent of EU members will be required to extend two-year UK withdrawal process

    The procedure that the UK must now follow if it is to leave the European Union is a two-year one set out in Article 50 of the Treaty of the European Union. Any extension of the two-year deadline requires the consent of all EU member states.

  • 19:19
    Vote ages broken down. To see more details go to <a href='' target='_blank' target='_blank' ></a>
    Vote ages broken down. To see more details go to
  • 19:21
    Peter Higgs says Brexit ‘a disaster’ for scientific research

    The Brexit vote is a “disaster” for scientific research in Britain and for the free movement of academics in Europe, Nobel laureate and world-renowned physicist Prof Peter Higgs has said.
    Prof Higgs was among dignitaries conferred with honorary doctorates at Trinity College Dublin on Friday, including writers JP Donleavy and Lia Mills, and human rights activist, Hina Jilani from Pakistan. The list also included Trinity’s oldest student, 97-year-old Joe Veselsky, who was conferred with an Honorary Master of Arts.
    Earlier on Friday, US vice president Joe Biden was made an Honorary Doctor in Laws.
    Prof Higgs, who was jointly awarded the Nobel Prize in Physics with the Belgian scientist Francois Englert in 2013 for their theory about the existence of a fundamental particle of the universe, was made an Honorary Doctor in Science by the university.
    The two scientists had made predictions about the existence of the Higgs particle back in 1964.
  • 19:36

    The Celtic question: Why did Northern Ireland and Scotland vote Remain?

    While the UK has chosen Leave in the EU referendum, voters in Northern Ireland and Scotland bucked the overall trend and voted Remain by a margin of 10 per cent greater than their English compatriots. Ominously, such a stark divergence in opinion between the Celtic countries and England means we may have witnessed the first step in the disintegration of the UK as we have known it for over 400 years.
    In contrast, in 1975, it was the English who actually voted for the EC by a margin of 10 per cent greater than the Scottish and Northern Irish, who rejected the authority of the London government to act on their behalf, resented yet another foreign government controlling their lives and rebelled at the prospect of heavily-subsidised foreign farmers undercutting domestic farmers. Incredibly, that vote even registered the rare achievement of uniting most Protestants and Catholics in Northern Ireland against membership!
    So, what has happened in the meantime to cause this dramatic Celtic transformation?
    There are several factors.
    First, in 1975, the Northern Irish and Scots saw the EC as a threat to British regional development aid. Back then, the EC had no regional development policy of note. Fast forward to 2016 and the EU now runs a comprehensive regional development fund with deep pockets, investing billions of pounds around the entire island of Ireland and in the most deprived parts of Scotland. Before 2020, Northern Ireland alone was due to get over twice the per capita EU regional development funding of England. Over the same period, Scottish and Irish farmers would have received three times and five times, respectively, the per capita compensation of their English counterparts from the EU’s Common Agricultural Policy (CAP).

    Full article here

  • 19:46

    Cameron and Kenny agree to open talks on new Border plan

    Taoiseach Enda Kenny and British prime minister David Cameron have agreed that officials will immediately discuss issues such as the common travel area and the Border with Northern Ireland following the Brexitreferendum result.
    In a telephone conversation yesterday, Mr Kenny told Mr Cameron he understood the rationale for the prime minister’s preference for starting negotiations with the European Union on leaving the union after a new Conservative Party leader has been selected.
    According to a note of the phone call, “it was agreed that it would be [a] priority that there would be no interruption to the close bilateral work at political and official level on Northern Ireland.
    “Moreover, it was agreed that there would be immediate bilateral contact between senior officials on the issues of mutual interest arising from the referendum, including the common travel area and the Border.”

  • 19:48

    What a day. It most definitely was a historic result. Thank you for your company! That is it from me today.

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