Brexit referendum aftermath

CNC
Added On June 26, 2016

After Britain voted to leave the European Union (EU) in a historic referendum, foreign ministers from six founding countries of EU met on Saturday in Berlin, pushing for a speedy exit procedures of Britain.
 
"This process should start as soon as possible," said German Foreign Minister Frank Walter Steinmeier after a meeting with his counterparts from France, Italy, the Netherlands, Belgium and Luxembourg on Saturday in Berlin. 
 
The aim must be "not to fall into a prolonged stalemate", he added.
 
French Foreign Minister Jean-Marc Ayrault said "We'll start immediately", adding that "we now expect that the process will be triggered under Article 50." He said that British Prime Minister David Cameron initiated this referendum, and "he must now live with the consequences".
 
Cameron announced on Friday his intention to step down after his country has voted to leave the EU.
 
Beyond that, Britain's European Commissioner Jonathan Hill, responsible for Financial Stability, Financial Services and the Capital Markets Union, also decided to resign from his post, said a press release issued by the European Commission on Saturday. 
 
In the meantime, Labour's opposition leader is urged to go and there is a new call for Scottish independence. All these were reactions to a shock decision by Britain to say "au revoir" to its membership of the European Union.
 
While EU pushed Britain for a quick exit, a petition to parliament calling for a second referendum on Britain's EU membership have gathered more than one million signatures by midday Saturday.
 
The petition demands a change in the law to pave the way for a re-run of Thursday's national vote. It calls for a majority of 60 percent and a turnout of 75 percent before any change in Britain's EU membership can take place. The petition was gaining pace at a rate of thousands of signatures every hour. 
 
The petition was started by British citizen William Oliver Healey, and reads: "We the undersigned call upon HM Government to implement a rule that if the Remain or Leave vote is less than 60 percent based a turnout less than 75 percent, there should be another referendum." 
 
A second petition, already signed by more than 100,000 people, is calling on London's mayor Sadiq Khan, to declare the British capital independent from Britain so that it can apply to join the EU. 
 
The petition, launched by Londoner James O'Malley, stated that London is an international city and "we want to remain at the heart of Europe". 
 
So far,the outcome of the referendum has not only caused political earthquake across Europe, but also sent shock waves aross European stock markets on Friday. 
 
The result came as a surprise to European stock markets, which saw slumps in nearly every major index. The Euro Stoxx index plummeted by 8.62 percent, France CAC 40 down by 8.04 percent, FTSE 100 by 3.2 percent and Germany's DAX index by 6.82 percent.