However, Greenland, one of Denmark’s overseas territories, chose to leave the small group of countries that were beginning to form the European Union by holding an official referendum in 1982. They all spoke of the need for a speedy renegotiation.
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Political scientist Tim Bale at Queen Mary, University of London, said Johnson is the favorite because of the “huge momentum” generated by the result of the European Union referendum.
Mr Johnson, the lead campaigner for a “Brexit” said it would allow us to individually discuss future trade and immigration between our countries.
Describing the referendum as a “giant democratic exercise”, Cameron said, “Across the world people have been watching the choice that Britain has made”.
An nearly comical name to what has become one of the most significant economic votes in recent history.
Until then, Britain remains an European Union member.
In 1975, Labor Prime Minister Harold Wilson called a referendum on Britain’s membership and 66 percent of the British voted to stay in the European Community.
Separately, German Chancellor Angela Merkel said the negotiations with Britain should not be conducted in such a way as to be seen as a deterrent to other countries, and that there was no hurry for London to trigger the process for leaving.
European Commission chief Jean-Claude Juncker said Britain’s planned departure was “not an amicable divorce” but called for it to be quick.
With no precedent, the impact on the single market of 500 million people – the world’s largest economy – is unclear. Negotiating Britain’s withdrawal could be a messy, complex process, and the new post-withdrawal rules might make it harder to do business between the United Kingdom and the European Union – threatening London’s status as the financial capital of Europe.
From left to right, Luxembourg’s Foreign Minister Jean Asselborn, Italy’s Foreign Minister Paolo Gentiloni, Germany’s Foreign Minister Frank-Walter Steinmeier, Belgium’s Foreign Minister Didier Reynders, France’s Foreign Minister Jean-Marc Ayrault, and Netherlands’ Foreign Minister Bert Koenders address a press conference after post-Brexit talks at the Villa Borsig in Berlin on June 25, 2016. It’s not clear what will happen in the markets on Monday, the next trading day.
They also acknowledged that among the remaining 27 member states there were differing “levels of ambition” for European integration and had “to find ways to better deal with” them.
Mr Obama said he was sure Britain’s exit would be orderly and vowed that the United States and Britain would “stay focused on ensuring economic growth and financial stability”.
Next week is likely to ignite major speculation about the next leader of the Conservative Party, and speculation about a change in leadership in the opposition Labour Party, after Labour politicians submitted a motion of no confidence in leader Jeremy Corbyn on Friday.
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However, remedial action has been triggered to counteract the immediate negative effects of the referendum result.
