London (AFP) - Britain voted to break away from the European Union, toppling Prime Minister David Cameron and dealing a thunderous blow to the 60-year-old bloc that sent world markets plummeting on Friday. Cameron announced he would step down to make way for a new leader by early October after voters opted to exit the 28-nation alliance in defiance of his predictions of economic disaster and isolation.
Britons, many of them worried by immigration, decided 52 percent to 48 percent in favour of quitting the bloc, a margin of more than one million votes, according to final results from Thursday's referendum.
"The British people have voted to leave the European Union and their will must be respected," Cameron said, as the shockwave of their decision sent sterling, global stocks and oil prices plummeting.
Britain will be the first country to leave in the history of the EU, the culmination of decades of suspicion over European aims of creating an ever-closer political union. The result -- after a deeply polarising and often vitriolic campaign -- also threatens the very unity of the United Kingdom, with Scotland unwilling to follow the rest of the country out of the EU. The Conservative prime minister promised to try to "steady the ship" over the next few months but said a new leader should be installed by early October.
The result of the vote sent sterling collapsing 10 percent to touch a 31-year low of $1.3229. European stock markets dropped around eight percent at the opening bell. British banking shares lost a quarter of their value in morning trade. The Bank of England promised to take "all necessary steps" to secure market stability.
Voters appeared to have to shrugged off warnings that a Brexit would create a budget hole requiring spending cuts and tax increases once they lose unfettered trade access to the EU. Their decision will reawaken fears of a domino-effect ripple of exit votes in eurosceptic member state that could imperil the integrity of the bloc, already struggling with twin economic and refugee crises.
