Global stock markets lost about $2 trillion in value on Friday after Britain voted to leave the European Union, while sterling suffered a record one-day plunge to a 31-year low and money poured into safe-haven gold and government bonds. 
 
The blow to investor confidence and the uncertainty the vote has sparked could keep the Federal Reserve from raising interest rates as planned this year, and even spark a new round of emergency policy easing from major central banks. 
 
The move blindsided investors, who had expected Britain to vote to stay in the EU, and sparked sharp repricing across asset classes. Mainland European equity markets took the brunt of selling as investors feared the vote could destabilise the 28-member bloc by prompting more referendums. 
 
The traditional safe-harbor assets of top-rated government debt, the Japanese yen and gold all jumped. Spot gold rose over 4 per cent and the yield on the benchmark 10-year US Treasury note fell to a low of 1.406 per cent, last seen in 2012, but climbed higher in afternoon trading. 
 
Stocks tumbled in Europe. Frankfurt and Paris each fell 7 per cent to 8 per cent. Italian and Spanish markets posted their sharpest one-day drops ever, falling more than 12 per cent led by a dive in European bank stocks. Italy&#39;s Unicredit fell 24 per cent while Spain&#39;s Banco Santander fell 20 per cent. 
 
London&#39;s FTSE, however, dropped 3.2 per cent, with some investors speculating that the plunge in sterling could benefit Britain&#39;s economy. 
 
&quot;Big institutional customers saw this morning&#39;s event as a much more longer-term opportunity. So names that were really dislocated found plenty of bids, plenty of support,&quot; said Ken Polcari, director of the NYSE floor division at O&rsquo;Neil Securities in New York. 
 
Still, Britain&#39;s big banks took a $100 billion battering, with Lloyds, Barclays and RBS plunging as much as 30 per cent, although they cut those losses in half later in the day. 
 
Stocks on Wall Street traded down around 3 per cent, with the Dow Jones industrial average dropping as much as 544 points. 
 
The Dow Jones industrial average fell 520.19 points, or 2.89 per cent, to 17,490.88. The S&amp;P 500 slid 65.75 points, or 3.11 per cent, to 2,047.57 and the Nasdaq Composite lost 182.46 points, or 3.72 per cent, to 4,727.58. 
 
MSCI&#39;s all-country world stock index fell 4.4 per cent. 
 
Voting results showed a 51.9/48.1 per cent split for leaving, setting the UK on an uncertain path and dealing the largest setback to European efforts to forge greater unity since World War Two. 
 
The British pound dived by 18 US cents at one point, easily the biggest fall in living memory, to its lowest since 1985. The euro slid 3 per cent to $1.1050 as investors feared for its very future. 
 
Sterling was last down 7.4 per cent at $1.3775, having carved out a range of $1.3228 to $1.5022. The fall was even larger than during the global financial crisis and the currency was moving two or three cents in the blink of an eye. 
 
The Bank of England, European Central Bank and the People&#39;s Bank of China all said they were ready to provide liquidity if needed to ensure global market stability. 
 
 
Shockwaves 
The shockwaves affected all asset classes and regions. 
 
The safe-haven yen jumped 3.9 per cent to 102.21 per dollar, having been as low as 106.81. The dollar&#39;s peak decline of 4 per cent was the largest since 1998. 
 
Emerging market currencies across Asia and eastern Europe and South Africa&#39;s rand all buckled on fears that investors could pull out. Poland&#39;s zloty slumped 4 per cent. 
 
Europe&#39;s safety play, the 10-year German government bond, surged with yields tumbling back into negative territory and a new record low. 
 
MSCI&#39;s broadest index of Asia-Pacific shares outside Japan slid almost 3.3 per cent. Tokyo&#39;s Nikkei saw its worst fall since 2011, down 7.9 per cent. 
 
Investors stampeded into low-risk sovereign bonds, with US 10-year notes gained around 1.5 points in price to yield 1.570 per cent. Earlier, the yield dipped to 1.406 per cent. 
 
The rally even extended to UK bonds, despite a warning from ratings agency Standard &amp; Poor&#39;s that it was likely to downgrade Britain&#39;s triple-A credit rating if it left the EU. Yields on benchmark 10-year gilts fell 27 basis points to 1.096 pct. 
 
Across the Atlantic, investors were pricing in less chance of another hike in US interest rates given the Federal Reserve had cited a British exit from the EU as one reason to be cautious on tightening. 
 
&quot;A July (hike) is definitely off the table,&quot; said Mike Baele, managing director with the private client reserve group at US Bank in Portland, Oregon. 
 
Fed funds futures were even toying with the chance that the next move could be a cut in US rates. 
 
Oil prices slumped by more than 4 per cent amid fears of a broader economic slowdown that could reduce demand. US crude shed $2.36 to $47.77 a barrel while Brent fell 4.7 per cent to $48.50 before. 
 
Industrial metal copper sank 2.1 per cent but gold galloped nearly 5 per cent higher thanks to its perceived safe haven status. 
 
(Reuters)

Global stock markets lose about $2 trillion in value, sterling plunges to 31-year low

Global stock markets lost about $2 trillion in value on Friday after Britain voted to leave the European Union, while sterling suffered a record one-day plunge to a 31-year low and money poured into safe-haven gold and government bonds. The blow to investor confidence and the uncertainty the vote has sparked could keep the Federal Reserve from raising interest rates as planned this year, and even spark a new round of emergency policy easing from major central banks. The move blindsided investors, who had expected Britain to vote to stay in the EU, and sparked sharp repricing across asset classes. Mainland European equity markets took the brunt of selling as investors feared the vote could destabilise the 28-member bloc by prompting more referendums. The traditional safe-harbor assets of top-rated government debt, the Japanese yen and gold all jumped. Spot gold rose over 4 per cent and the yield on the benchmark 10-year US Treasury note fell to a low of 1.406 per cent, last seen in 2012, but climbed higher in afternoon trading. Stocks tumbled in Europe. Frankfurt and Paris each fell 7 per cent to 8 per cent. Italian and Spanish markets posted their sharpest one-day drops ever, falling more than 12 per cent led by a dive in European bank stocks. Italy's Unicredit fell 24 per cent while Spain's Banco Santander fell 20 per cent. London's FTSE, however, dropped 3.2 per cent, with some investors speculating that the plunge in sterling could benefit Britain's economy. "Big institutional customers saw this morning's event as a much more longer-term opportunity. So names that were really dislocated found plenty of bids, plenty of support," said Ken Polcari, director of the NYSE floor division at O’Neil Securities in New York. Still, Britain's big banks took a $100 billion battering, with Lloyds, Barclays and RBS plunging as much as 30 per cent, although they cut those losses in half later in the day. Stocks on Wall Street traded down around 3 per cent, with the Dow Jones industrial average dropping as much as 544 points. The Dow Jones industrial average fell 520.19 points, or 2.89 per cent, to 17,490.88. The S&P 500 slid 65.75 points, or 3.11 per cent, to 2,047.57 and the Nasdaq Composite lost 182.46 points, or 3.72 per cent, to 4,727.58. MSCI's all-country world stock index fell 4.4 per cent. Voting results showed a 51.9/48.1 per cent split for leaving, setting the UK on an uncertain path and dealing the largest setback to European efforts to forge greater unity since World War Two. The British pound dived by 18 US cents at one point, easily the biggest fall in living memory, to its lowest since 1985. The euro slid 3 per cent to $1.1050 as investors feared for its very future. Sterling was last down 7.4 per cent at $1.3775, having carved out a range of $1.3228 to $1.5022. The fall was even larger than during the global financial crisis and the currency was moving two or three cents in the blink of an eye. The Bank of England, European Central Bank and the People's Bank of China all said they were ready to provide liquidity if needed to ensure global market stability. Shockwaves The shockwaves affected all asset classes and regions. The safe-haven yen jumped 3.9 per cent to 102.21 per dollar, having been as low as 106.81. The dollar's peak decline of 4 per cent was the largest since 1998. Emerging market currencies across Asia and eastern Europe and South Africa's rand all buckled on fears that investors could pull out. Poland's zloty slumped 4 per cent. Europe's safety play, the 10-year German government bond, surged with yields tumbling back into negative territory and a new record low. MSCI's broadest index of Asia-Pacific shares outside Japan slid almost 3.3 per cent. Tokyo's Nikkei saw its worst fall since 2011, down 7.9 per cent. Investors stampeded into low-risk sovereign bonds, with US 10-year notes gained around 1.5 points in price to yield 1.570 per cent. Earlier, the yield dipped to 1.406 per cent. The rally even extended to UK bonds, despite a warning from ratings agency Standard & Poor's that it was likely to downgrade Britain's triple-A credit rating if it left the EU. Yields on benchmark 10-year gilts fell 27 basis points to 1.096 pct. Across the Atlantic, investors were pricing in less chance of another hike in US interest rates given the Federal Reserve had cited a British exit from the EU as one reason to be cautious on tightening. "A July (hike) is definitely off the table," said Mike Baele, managing director with the private client reserve group at US Bank in Portland, Oregon. Fed funds futures were even toying with the chance that the next move could be a cut in US rates. Oil prices slumped by more than 4 per cent amid fears of a broader economic slowdown that could reduce demand. US crude shed $2.36 to $47.77 a barrel while Brent fell 4.7 per cent to $48.50 before. Industrial metal copper sank 2.1 per cent but gold galloped nearly 5 per cent higher thanks to its perceived safe haven status. (Reuters)

World stocks tumble after Britain votes to leave the EU

Britain&#39;s vote to become the first country to leave the EU, as projected by national media, is a shattering blow that threatens the survival of the post-war European project, officials and analysts said. 
 
The loss of one of its biggest members will at the very least force major changes on an embattled bloc already struggling to deal with growing populism, a migration crisis and economic woes. 
 
In the long-run, &quot;Brexit&quot; may lead to other countries holding referendums, a far looser union, and possibly even the disintegration of a grouping set up 60 years ago to bring security and prosperity after World War II. 
 
EU President Donald Tusk warned in the run-up to the vote that Brexit could lead to the &quot;destruction of not only the EU but also of Western political civilisation.&quot; 
 
With Europe facing a resurgent Russia and the threat of terrorism, Tusk said &quot;our enemies... will open a bottle of champagne if the result of referendum is negative for us.&quot; 
 
In a less doom-laden assessment, European Commission Chief Jean-Claude Juncker said last week that the EU was not &quot;in danger of death&quot; from a Brexit but that it would have to learn lessons. 
 
&#39;Very serious blow&#39; 
Chris Bickerton, a lecturer at Britain&#39;s Cambridge University and author of &quot;The European Union: A Citizen&#39;s Guide&quot;, said it was a &quot;very serious blow&quot; but not terminal, given the &quot;core role&quot; of the EU in much of European political life. 
 
But he added that it would probably drift towards a &quot;looser, ad hoc&quot; union. 
 
&quot;I don&#39;t think it would suddenly disappear but over the longer term, we might see it slowly decline and become something different,&quot; he told AFP. 
 
The next steps for the EU would be difficult, he added. 
 
&quot;We are very much in uncharted territory,&quot; he said. &quot;I don&#39;t think anyone really thought Brexit was really likely, certainly not when they were negotiating with Cameron, otherwise they would have done a very different deal.&quot; 
 
In the immediate aftermath of the British vote, seven years of potentially bitter divorce negotiations between Brussels and London loom. 
 
The remaining EU countries will likely be keen to move ahead. France and Germany, the main EU heavyweights, have already been working on a joint plan for the future. 
 
But with Berlin and Paris at loggerheads over future integration of the eurozone, any plan is likely to be a modest affair that deals only with issues such as security and defence. 
 
Even without Britain in the club, the drift away from &quot;ever closer union&quot; and federalism is likely to increase, with growing talk of a &quot;two-speed Europe&quot; that allows states opt-outs from key rules. 
 
One major step could be making membership of the euro non-compulsory, which would help Poland, which appears to have no intention of joining the single currency but is officially meant to. 
 
Domino effect? 
The main fear in many European capitals is that either way, the result could trigger a domino effect of referendums in other countries. 
 
French far-right leader Marine Le Pen on Tuesday urged all EU states to follow Britain&#39;s example, and eurosceptics in the Netherlands, Denmark and Sweden have made similar calls for referendums. 
 
Vivien Pertusot, Brussels-based analyst with the French Institute of International Relations (IFRI), said the EU was likely to survive but be weakened. 
 
&quot;Institutions rarely die,&quot; he told AFP. &quot;Maybe there will not be disintegration, but a loss of relevance. The EU will lose, bit by bit, its centrality for all the most political projects.&quot; 
 
The danger for the EU is that even after if makes changes following the British referendum, it will still not be able to quell the forces of history tearing it apart. 
 
&quot;The EU is in a negative spiral,&quot; Janis Emmanouilidis, director of studies at Brussels-based think tank European Policy Centre, told AFP. 
 
The question of what could replace the EU if it does collapse is even more vexed. 
 
&quot;It might sound as if yes, this story has ended, a new one has began, but that&#39;s not not easy. Especially after the experience of failure,&quot; said Emmanouilidis. 
 
(AFP)

Britain leaving may lead to the disintegration of a grouping set up 60 years ago to bring security and prosperity after World War II

Britain's vote to become the first country to leave the EU, as projected by national media, is a shattering blow that threatens the survival of the post-war European project, officials and analysts said. The loss of one of its biggest members will at the very least force major changes on an embattled bloc already struggling to deal with growing populism, a migration crisis and economic woes. In the long-run, "Brexit" may lead to other countries holding referendums, a far looser union, and possibly even the disintegration of a grouping set up 60 years ago to bring security and prosperity after World War II. EU President Donald Tusk warned in the run-up to the vote that Brexit could lead to the "destruction of not only the EU but also of Western political civilisation." With Europe facing a resurgent Russia and the threat of terrorism, Tusk said "our enemies... will open a bottle of champagne if the result of referendum is negative for us." In a less doom-laden assessment, European Commission Chief Jean-Claude Juncker said last week that the EU was not "in danger of death" from a Brexit but that it would have to learn lessons. 'Very serious blow' Chris Bickerton, a lecturer at Britain's Cambridge University and author of "The European Union: A Citizen's Guide", said it was a "very serious blow" but not terminal, given the "core role" of the EU in much of European political life. But he added that it would probably drift towards a "looser, ad hoc" union. "I don't think it would suddenly disappear but over the longer term, we might see it slowly decline and become something different," he told AFP. The next steps for the EU would be difficult, he added. "We are very much in uncharted territory," he said. "I don't think anyone really thought Brexit was really likely, certainly not when they were negotiating with Cameron, otherwise they would have done a very different deal." In the immediate aftermath of the British vote, seven years of potentially bitter divorce negotiations between Brussels and London loom. The remaining EU countries will likely be keen to move ahead. France and Germany, the main EU heavyweights, have already been working on a joint plan for the future. But with Berlin and Paris at loggerheads over future integration of the eurozone, any plan is likely to be a modest affair that deals only with issues such as security and defence. Even without Britain in the club, the drift away from "ever closer union" and federalism is likely to increase, with growing talk of a "two-speed Europe" that allows states opt-outs from key rules. One major step could be making membership of the euro non-compulsory, which would help Poland, which appears to have no intention of joining the single currency but is officially meant to. Domino effect? The main fear in many European capitals is that either way, the result could trigger a domino effect of referendums in other countries. French far-right leader Marine Le Pen on Tuesday urged all EU states to follow Britain's example, and eurosceptics in the Netherlands, Denmark and Sweden have made similar calls for referendums. Vivien Pertusot, Brussels-based analyst with the French Institute of International Relations (IFRI), said the EU was likely to survive but be weakened. "Institutions rarely die," he told AFP. "Maybe there will not be disintegration, but a loss of relevance. The EU will lose, bit by bit, its centrality for all the most political projects." The danger for the EU is that even after if makes changes following the British referendum, it will still not be able to quell the forces of history tearing it apart. "The EU is in a negative spiral," Janis Emmanouilidis, director of studies at Brussels-based think tank European Policy Centre, told AFP. The question of what could replace the EU if it does collapse is even more vexed. "It might sound as if yes, this story has ended, a new one has began, but that's not not easy. Especially after the experience of failure," said Emmanouilidis. (AFP)

With Britain gone, can the EU survive?

Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow to the European project of greater unity since World War Two.

Global financial markets plunged on Friday as results from a referendum showed a near 52-48 percent split for leaving a bloc it joined more than 40 years ago.

The pound fell as much as 10 percent against the dollar to levels last seen in 1985, on fears the decision could hit investment in the world&#39;s fifth-largest economy, threaten London&#39;s role as a global financial capital and usher in months of political uncertainty.

World stocks headed for one of the biggest slumps on record, and billions of dollars were wiped off the value of European companies. Britain&#39;s big banks took a $130 billion battering, with Lloyds and Barclays falling as much as 30 percent.

An emotional Cameron, who led the &quot;Remain&quot; campaign to defeat, losing the gamble he took when he called the referendum three years ago, said he would leave office by October.

&quot;The British people have made the very clear decision to take a different path and as such I think the country requires fresh leadership to take it in this direction,&quot; he said in a televised address outside his Downing Street office.

&quot;I do not think it would be right for me to be the captain that steers our country to its next destination.&quot;
<img alt="" class="img-responsive" src="http://s.wionews.com/photos/UK%20and%20the%20EU_A%20rocky%20relationship_timeline-20160624101010.jpg" />
 
Quitting the EU could cost Britain access to the EU&#39;s trade barrier-free single market and mean it must seek new trade accords with countries around the world. The United Kingdom itself could break apart, with politicians in Scotland - where nearly two-thirds of voters wanted to stay in the EU - calling for a new vote on independence. 
 
The EU for its part will be economically and politically damaged, facing the departure not only of its most free-market proponent but also a member with a UN&nbsp;Security Council veto, a powerful army and nuclear capability. In one go, the bloc will lose around a sixth of its economic output.

The result emboldened eurosceptics in other member states with populist leaders in France and the Netherlands demanding their own referendums to leave.

The vote will initiate at least two years of divorce proceedings with the EU, the first exit by any member state. Cameron - who has been premier for six years and called the referendum in a bid to head off pressure from domestic eurosceptics, including within his own party - said it would be up to his successor to formally start the exit process.

His Conservative Party rival Boris Johnson, the former London mayor who became the most recognisable face of the &quot;leave&quot; camp, is now widely tipped to seek his job. Johnson made no comment as he left his home to jeers from a crowd in the mainly pro-EU capital. 
 
&nbsp;

<img alt="" class="img-responsive" src="http://s.wionews.com/photos/How%20the%20old%20and%20the%20young%20of%20Britain%20voted%20(1)-20160624022607.jpg" /> 
 
 
&#39;Independence Day&#39; 
There was euphoria among Britain&#39;s eurosceptic forces, claiming a victory over the political establishment, big business and foreign leaders including U.S. President Barack Obama who had urged Britain to stay in.

&quot;Dare to dream that the dawn is breaking on an independent United Kingdom,&quot; said Nigel Farage, leader of the eurosceptic UK Independence Party, describing the EU as &quot;doomed&quot; and &quot;dying&quot;.

&quot;This will be a victory for real people, a victory for ordinary people, a victory for decent people ... Let June 23 go down in our history as our independence day.&quot;

European politicians reacted with dismay.

&quot;The news from Britain is really sobering. It looks like a sad day for Europe and Britain,&quot; said German foreign minister Frank-Walter Steinmeier.

&quot;Please tell me I&#39;m still sleeping and this is all just a bad nightmare!&quot; former Finnish Prime Minister Alexander Stubb tweeted.

The shock hits a European bloc already reeling from a euro zone debt crisis, unprecedented mass migration and confrontation with Russia over Ukraine. Anti-immigrant and anti-EU political parties have been surging across the continent, placing unprecedented pressure on the centre-left and centre-right establishment that has governed Europe for generations.

French National Front leader Marine Le Pen called for a similar referendum in France, changed her Twitter profile to a Union Jack and declared &quot;Victory for freedom!&quot;

Dutch far right leader Geert Wilders, also demanding a referendum, said: &ldquo;We want be in charge of our own country, our own money, our own borders, and our own immigration policy.&quot;

U.S. presidential candidate Donald Trump, whose rise has been fuelled by disenchantment with the political establishment in the United States that has parallels with populism in Europe, declared that Britons &quot;took back control of their country&quot;. He was in Scotland opening a golf club.

Britain has always been ambivalent about its relations with the rest of post-war Europe. A&nbsp;firm supporter of free trade, tearing down internal economic barriers and expanding the EU to take in ex-communist eastern states, it opted out of joining the euro single currency or the Schengen border-free zone.

Cameron&#39;s ruling Conservatives in particular have harboured an anti-EU wing for generations, and it was partly to silence such figures that he called the referendum in 2013.

World leaders including Obama, Chinese President Xi Jinping, German Chancellor Angela Merkel, NATO and Commonwealth governments had all urged a &quot;Remain&quot; vote, saying Britain would be stronger and more influential in the EU than outside.

The four-month campaign was among the divisive ever waged in Britain, with accusations of lying and scare-mongering on both sides and rows on immigration which critics said at times unleashed overt racism.

It also revealed deeper splits in British society, with the pro-Brexit side drawing support from millions of voters who felt left behind by globalisation and believed they saw no benefits from Britain&#39;s ethnic diversity and free-market economy.

At the darkest moment, a pro-EU member of parliament was stabbed and shot to death in the street by an attacker who later told a court his name was &quot;Death to traitors, freedom for Britain&quot;.

Older voters backed Brexit; the young mainly wanted to stay in. London and Scotland supported the EU, but wide swathes of middle England, which have not shared in the capital&#39;s prosperity, voted to leave.

Concerns over uncontrolled immigration, loss of sovereignty and remote rule from Brussels appear to have trumped almost unanimous warnings of the economic perils of going it alone.

 
Threat of UK break-up 
The United Kingdom itself now faces a threat to its survival; Scottish First Minister Nicola Sturgeon said Thursday&#39;s vote &quot;makes clear that the people of Scotland see their future as part of the European Union.&quot;
<a name="UKTimeline"> </a>

<a name="UKTimeline">Her predecessor, Alex Salmond, said Scotland was now likely to push for a second independence referendum. It voted against seceding in 2014. Northern Ireland&#39;s largest Irish nationalist party, Sinn Fein, said the result intensified the case for a vote on whether to quit the United Kingdom.</a>
<a name="UKTimeline"> </a>

<a name="UKTimeline">The global financial turmoil was the worst shock since the 2008 economic crisis, and comes at a time when interest rates around the world are already at or near zero, leaving policymakers without the usual tools to respond.</a>
<a name="UKTimeline"> </a>

<a name="UKTimeline">The body blow to global confidence could prevent the Federal Reserve from raising interest rates as planned this year, and might even provoke a new round of emergency policy easing from all major central banks, despite their limited options.</a>
<a name="UKTimeline"> </a>

<a name="UKTimeline">The Bank of England said it would take all necessary steps to secure monetary and financial stability. Japanese Finance Minister Taro Aso promising to &quot;respond as needed&quot; in the currency market.</a>
<a name="UKTimeline"> </a>

<a name="UKTimeline">EU affairs ministers and ambassadors from member states gather in Luxembourg by 10 am&nbsp;(0800 GMT) for previously-scheduled talks that will provide the first chance for many to react.</a>
<a name="UKTimeline"> </a>

<a name="UKTimeline">Left unclear is the relationship Britain can negotiate with the EU once it leaves.</a>
<a name="UKTimeline"> </a>

<a name="UKTimeline">To retain access to the single market, vital for its giant financial services sector, London may have to adopt all EU regulation without having a say in its shaping, contribute to Brussels coffers, and continue to allow free movement as Norway and Switzerland do - all things the Leave campaign vowed to end.</a>
<a name="UKTimeline"> </a>

<a name="UKTimeline">EU officials have said UK-based banks and financial firms would lose automatic &quot;passport&quot; access to sell services across Europe if Britain ceased to apply the EU principles of free movement of goods, capital, services and people.</a>
<a name="UKTimeline"> </a>

<a name="UKTimeline">Aside from trade, huge questions now face the millions of British expatriates who live freely elsewhere in the bloc and enjoy equal access to health and other benefits, as well as millions of EU citizens who live and work in Britain.&nbsp; 
 
(Reuters)</a>
<a name="UKTimeline"> </a>

The UK votes 52 to 48 per cent to leave the European Union and Cameron says he will go by October

Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow to the European project of greater unity since World War Two. Global financial markets plunged on Friday as results from a referendum showed a near 52-48 percent split for leaving a bloc it joined more than 40 years ago. The pound fell as much as 10 percent against the dollar to levels last seen in 1985, on fears the decision could hit investment in the world's fifth-largest economy, threaten London's role as a global financial capital and usher in months of political uncertainty. World stocks headed for one of the biggest slumps on record, and billions of dollars were wiped off the value of European companies. Britain's big banks took a $130 billion battering, with Lloyds and Barclays falling as much as 30 percent. An emotional Cameron, who led the "Remain" campaign to defeat, losing the gamble he took when he called the referendum three years ago, said he would leave office by October. "The British people have made the very clear decision to take a different path and as such I think the country requires fresh leadership to take it in this direction," he said in a televised address outside his Downing Street office. "I do not think it would be right for me to be the captain that steers our country to its next destination." Quitting the EU could cost Britain access to the EU's trade barrier-free single market and mean it must seek new trade accords with countries around the world. The United Kingdom itself could break apart, with politicians in Scotland - where nearly two-thirds of voters wanted to stay in the EU - calling for a new vote on independence. The EU for its part will be economically and politically damaged, facing the departure not only of its most free-market proponent but also a member with a UN Security Council veto, a powerful army and nuclear capability. In one go, the bloc will lose around a sixth of its economic output. The result emboldened eurosceptics in other member states with populist leaders in France and the Netherlands demanding their own referendums to leave. The vote will initiate at least two years of divorce proceedings with the EU, the first exit by any member state. Cameron - who has been premier for six years and called the referendum in a bid to head off pressure from domestic eurosceptics, including within his own party - said it would be up to his successor to formally start the exit process. His Conservative Party rival Boris Johnson, the former London mayor who became the most recognisable face of the "leave" camp, is now widely tipped to seek his job. Johnson made no comment as he left his home to jeers from a crowd in the mainly pro-EU capital. 'Independence Day' There was euphoria among Britain's eurosceptic forces, claiming a victory over the political establishment, big business and foreign leaders including U.S. President Barack Obama who had urged Britain to stay in. "Dare to dream that the dawn is breaking on an independent United Kingdom," said Nigel Farage, leader of the eurosceptic UK Independence Party, describing the EU as "doomed" and "dying". "This will be a victory for real people, a victory for ordinary people, a victory for decent people ... Let June 23 go down in our history as our independence day." European politicians reacted with dismay. "The news from Britain is really sobering. It looks like a sad day for Europe and Britain," said German foreign minister Frank-Walter Steinmeier. "Please tell me I'm still sleeping and this is all just a bad nightmare!" former Finnish Prime Minister Alexander Stubb tweeted. The shock hits a European bloc already reeling from a euro zone debt crisis, unprecedented mass migration and confrontation with Russia over Ukraine. Anti-immigrant and anti-EU political parties have been surging across the continent, placing unprecedented pressure on the centre-left and centre-right establishment that has governed Europe for generations. French National Front leader Marine Le Pen called for a similar referendum in France, changed her Twitter profile to a Union Jack and declared "Victory for freedom!" Dutch far right leader Geert Wilders, also demanding a referendum, said: “We want be in charge of our own country, our own money, our own borders, and our own immigration policy." U.S. presidential candidate Donald Trump, whose rise has been fuelled by disenchantment with the political establishment in the United States that has parallels with populism in Europe, declared that Britons "took back control of their country". He was in Scotland opening a golf club. Britain has always been ambivalent about its relations with the rest of post-war Europe. A firm supporter of free trade, tearing down internal economic barriers and expanding the EU to take in ex-communist eastern states, it opted out of joining the euro single currency or the Schengen border-free zone. Cameron's ruling Conservatives in particular have harboured an anti-EU wing for generations, and it was partly to silence such figures that he called the referendum in 2013. World leaders including Obama, Chinese President Xi Jinping, German Chancellor Angela Merkel, NATO and Commonwealth governments had all urged a "Remain" vote, saying Britain would be stronger and more influential in the EU than outside. The four-month campaign was among the divisive ever waged in Britain, with accusations of lying and scare-mongering on both sides and rows on immigration which critics said at times unleashed overt racism. It also revealed deeper splits in British society, with the pro-Brexit side drawing support from millions of voters who felt left behind by globalisation and believed they saw no benefits from Britain's ethnic diversity and free-market economy. At the darkest moment, a pro-EU member of parliament was stabbed and shot to death in the street by an attacker who later told a court his name was "Death to traitors, freedom for Britain". Older voters backed Brexit; the young mainly wanted to stay in. London and Scotland supported the EU, but wide swathes of middle England, which have not shared in the capital's prosperity, voted to leave. Concerns over uncontrolled immigration, loss of sovereignty and remote rule from Brussels appear to have trumped almost unanimous warnings of the economic perils of going it alone. Threat of UK break-up The United Kingdom itself now faces a threat to its survival; Scottish First Minister Nicola Sturgeon said Thursday's vote "makes clear that the people of Scotland see their future as part of the European Union." Her predecessor, Alex Salmond, said Scotland was now likely to push for a second independence referendum. It voted against seceding in 2014. Northern Ireland's largest Irish nationalist party, Sinn Fein, said the result intensified the case for a vote on whether to quit the United Kingdom. The global financial turmoil was the worst shock since the 2008 economic crisis, and comes at a time when interest rates around the world are already at or near zero, leaving policymakers without the usual tools to respond. The body blow to global confidence could prevent the Federal Reserve from raising interest rates as planned this year, and might even provoke a new round of emergency policy easing from all major central banks, despite their limited options. The Bank of England said it would take all necessary steps to secure monetary and financial stability. Japanese Finance Minister Taro Aso promising to "respond as needed" in the currency market. EU affairs ministers and ambassadors from member states gather in Luxembourg by 10 am (0800 GMT) for previously-scheduled talks that will provide the first chance for many to react. Left unclear is the relationship Britain can negotiate with the EU once it leaves. To retain access to the single market, vital for its giant financial services sector, London may have to adopt all EU regulation without having a say in its shaping, contribute to Brussels coffers, and continue to allow free movement as Norway and Switzerland do - all things the Leave campaign vowed to end. EU officials have said UK-based banks and financial firms would lose automatic "passport" access to sell services across Europe if Britain ceased to apply the EU principles of free movement of goods, capital, services and people. Aside from trade, huge questions now face the millions of British expatriates who live freely elsewhere in the bloc and enjoy equal access to health and other benefits, as well as millions of EU citizens who live and work in Britain. (Reuters)

Britain leaves and Cameron follows

Oil prices rose in Asian trading on Thursday, shrugging off a smaller-than-expected decline in US stockpiles, as the market nervously awaited the result of Britain&#39;s &quot;Brexit&quot; vote. 
 
Trading has been choppy in the run-up to Thursday&#39;s vote on whether Britain leaves or stays in the European Union (EU), although markets appear to have largely priced in a &quot;Remain&quot; vote. 
&nbsp; 
Brent&#39;s August front-month contract was up 40 cents at $50.28 a barrel at 0217 GMT. It closed down 74 cents, or 1.5 per cent, at $49.88 a barrel on Wednesday. 
 
Prices for US oil were also higher, rising 43 cents to $49.56 a barrel. 
 
Once the Brexit vote is out of the way the oil market is likely to switch its focus to fundamentals, turning its attention to more potential supply disruptions that have sent prices higher this year. 
 
The worsening crisis in Venezuela, the country with the highest oil reserves, may be the next source of supply concern, said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo. 
 
&quot;There is a cloud hanging over the market from the Brexit vote, which is keeping prices down a bit,&quot; he said. &quot;If the vote comes off, we could go up,&quot; Nunan said, referring to a vote to remain in the EU. 
 
US crude inventories fell less than expected last week, while product inventories were up slightly, the US Energy Information Administration said on Wednesday. 
 
Crude inventories dropped 917,000 barrels in the week ended June 17, compared with expectations for a decrease of 1.7 million barrels. It was the fifth consecutive week of drawdowns for crude inventories. 
 
The Pound rose to a six-month high against the Dollar early on Thursday. 
 
The Yen, often a safe-haven currency for risk-averse investors, was down about 0.25 per cent, while the Nikkei rose by slightly more than that.

The Pound rose to a six-month high against the Dollar early on Thursday

Oil prices rose in Asian trading on Thursday, shrugging off a smaller-than-expected decline in US stockpiles, as the market nervously awaited the result of Britain's "Brexit" vote. Trading has been choppy in the run-up to Thursday's vote on whether Britain leaves or stays in the European Union (EU), although markets appear to have largely priced in a "Remain" vote. Brent's August front-month contract was up 40 cents at $50.28 a barrel at 0217 GMT. It closed down 74 cents, or 1.5 per cent, at $49.88 a barrel on Wednesday. Prices for US oil were also higher, rising 43 cents to $49.56 a barrel. Once the Brexit vote is out of the way the oil market is likely to switch its focus to fundamentals, turning its attention to more potential supply disruptions that have sent prices higher this year. The worsening crisis in Venezuela, the country with the highest oil reserves, may be the next source of supply concern, said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo. "There is a cloud hanging over the market from the Brexit vote, which is keeping prices down a bit," he said. "If the vote comes off, we could go up," Nunan said, referring to a vote to remain in the EU. US crude inventories fell less than expected last week, while product inventories were up slightly, the US Energy Information Administration said on Wednesday. Crude inventories dropped 917,000 barrels in the week ended June 17, compared with expectations for a decrease of 1.7 million barrels. It was the fifth consecutive week of drawdowns for crude inventories. The Pound rose to a six-month high against the Dollar early on Thursday. The Yen, often a safe-haven currency for risk-averse investors, was down about 0.25 per cent, while the Nikkei rose by slightly more than that.

Oil prices go up ahead of Brexit vote

Eighty per cent of the estimated 800,000 Poles living in Britain want to stay there even if it leaves the EU, while just three per cent want to return home, a poll published Sunday said. 
 
More than half of the Polish migrants surveyed by Poland&#39;s IBRiS pollsters also said they intend to apply for British citizenship.&nbsp; 
 
The study conducted from June 1517 is the largest ever involving Polish migrants in Britain, which could vote to leave the EU in a referendum on Thursday. 
 
A further 10 per cent of Polish migrants said they would move to another EU state if a Brexit meant they would have to leave Britain. 
 
&quot;Almost nobody wants to leave Britain,&quot; IBRiS chief Marcin Duma wrote in a commentary summing up the survey results.&nbsp; 
 
As non-citizens, the vast majority of Poles in Britain are not entitled to vote in Thursday&#39;s referendum. 
 
Seeking a better life, Poles were the largest group of migrants to head to Britain after the EU&#39;s 2004 &#39;Big Bang&#39; eastern expansion. 
 
Unlike other western EU members who kept up employment restrictions, Britain fully opened its labour market to EU newcomers from the east. 
 
The IBRiS survey also found that nearly 80 percent of Polish migrants agreed with reforms pushed through by conservative British Prime Minister David Cameron to limit their child benefits, a hot-button issue in the referendum. 
 
The IBRiS survey results were published on Sunday by the Polish Press Agency and the Polish Onet.pl website.&nbsp; 
(AFP)

80 per of 800,000 Poles living in Britain want to stay even if it leaves the EU, more than half intend to apply for citizenship

Eighty per cent of the estimated 800,000 Poles living in Britain want to stay there even if it leaves the EU, while just three per cent want to return home, a poll published Sunday said. More than half of the Polish migrants surveyed by Poland's IBRiS pollsters also said they intend to apply for British citizenship. The study conducted from June 1517 is the largest ever involving Polish migrants in Britain, which could vote to leave the EU in a referendum on Thursday. A further 10 per cent of Polish migrants said they would move to another EU state if a Brexit meant they would have to leave Britain. "Almost nobody wants to leave Britain," IBRiS chief Marcin Duma wrote in a commentary summing up the survey results. As non-citizens, the vast majority of Poles in Britain are not entitled to vote in Thursday's referendum. Seeking a better life, Poles were the largest group of migrants to head to Britain after the EU's 2004 'Big Bang' eastern expansion. Unlike other western EU members who kept up employment restrictions, Britain fully opened its labour market to EU newcomers from the east. The IBRiS survey also found that nearly 80 percent of Polish migrants agreed with reforms pushed through by conservative British Prime Minister David Cameron to limit their child benefits, a hot-button issue in the referendum. The IBRiS survey results were published on Sunday by the Polish Press Agency and the Polish Onet.pl website. (AFP)

Poles want to stay in UK regardless of 'Brexit': Polish survey

<div style="text-align: justify;">The campaign to keep Britain in the European Union regained its lead in two opinion polls published on Saturday, giving a boost to Prime Minister David Cameron who is battling to avoid a historic &quot;Leave&quot; vote in Thursday&#39;s referendum. 
 
A third poll also showed a change in momentum in favour of the &quot;Remain&quot; camp and Cameron got the backing of a leading newspaper when the right-leaning Mail on Sunday urged its readers to vote to remain in the EU. 
 
&quot;We are now in the final week of the referendum campaign and the swing back towards the status quo appears to be in full force,&quot; Anthony Wells, a director with polling firm, YouGov, said. 
 
Financial markets around the world are on edge ahead of the June 23 referendum. Recent polls showing the &quot;Leave&quot; camp in the lead have weakened Sterling and helped wipe billions of Pounds off stock markets as investors worried not only about the hit to Britain&#39;s economy and its trading partners, but also about the implications of a so-called Brexit for the EU&#39;s future. 
 
A YouGov poll for the Sunday Times newspaper showed support for Britain staying in the EU had restored a narrow 44-43 per cent lead over the &quot;Leave&quot; campaign. 
 
That poll was based on interviews conducted on Thursday and Friday, but the Sunday Times said the shift did not reflect the fatal attack on a British lawmaker on Thursday which led to the suspension of referendum campaigning. 
 
Instead, the bounce in support for &quot;Remain&quot; was more a reflection of growing concerns among voters about the economic impact of a so-called Brexit, it said. 
 
Cameron and his finance minister, George Osborne, have tried repeatedly to focus voters on the economic risks of leaving the EU&#39;s single market, pointing to forecasts of a hit from the International Monetary Fund, the Bank of England and most private economists. 
 
Campaigning&nbsp;set&nbsp;to&nbsp;resume 
 
Another YouGov poll reported on Saturday but based on surveys conducted on Wednesday and Thursday showed the lead of the &quot;Leave&quot; campaign had narrowed to two points from as wide as seven points less than a week ago. 
 
A third poll on Saturday, by polling firm Survation, gave the &quot;Remain&quot; campaign a three-point lead, reversing a similar lead for &quot;Leave&quot; in a Survation poll published as recently as on Thursday. 
 
A fourth poll, by Opinium, showed the two camp were running neck and neck with 44 per cent support each. That poll was conducted between Tuesday and Friday. 
 
While Cameron got support from the Mail on Sunday&#39;s backing of the &quot;Remain&quot; campaign, its rival The Sunday Times, which sells around half the number of copies as the Mail on Sunday, said it was backing the &quot;Leave&quot; campaign. 
 
The Sunday Times urged voters to vote to leave the EU as a way to press for deeper reform which might make the bloc more acceptable for Britain to actually remain in after a second referendum, an idea floated by &quot;Leave&quot; campaigner Boris Johnson. 
 
But Cameron told the newspaper that there would no second chance to decide Britain&#39;s role in Europe. &quot;This is an irreversible decision with very bad consequences for the British economy,&quot; he said in an interview. 
 
Campaigning was due to resume today&nbsp;after a suspension lasting more than two days following the fatal attack on lawmaker Jo Cox, a member of the opposition Labour Party and a strong supporter of Britain staying in the EU. 
 
The man charged with her murder, Thomas Mair, gave his name as &quot;death to traitors, freedom for Britain&quot; when he appeared in court on Saturday. 
(Reuters)</div>

Cameron is fighting for Britain's stay with EU and believes the "irreversible decision" will have bad consequences for the British economy

The campaign to keep Britain in the European Union regained its lead in two opinion polls published on Saturday, giving a boost to Prime Minister David Cameron who is battling to avoid a historic "Leave" vote in Thursday's referendum. A third poll also showed a change in momentum in favour of the "Remain" camp and Cameron got the backing of a leading newspaper when the right-leaning Mail on Sunday urged its readers to vote to remain in the EU. "We are now in the final week of the referendum campaign and the swing back towards the status quo appears to be in full force," Anthony Wells, a director with polling firm, YouGov, said. Financial markets around the world are on edge ahead of the June 23 referendum. Recent polls showing the "Leave" camp in the lead have weakened Sterling and helped wipe billions of Pounds off stock markets as investors worried not only about the hit to Britain's economy and its trading partners, but also about the implications of a so-called Brexit for the EU's future. A YouGov poll for the Sunday Times newspaper showed support for Britain staying in the EU had restored a narrow 44-43 per cent lead over the "Leave" campaign. That poll was based on interviews conducted on Thursday and Friday, but the Sunday Times said the shift did not reflect the fatal attack on a British lawmaker on Thursday which led to the suspension of referendum campaigning. Instead, the bounce in support for "Remain" was more a reflection of growing concerns among voters about the economic impact of a so-called Brexit, it said. Cameron and his finance minister, George Osborne, have tried repeatedly to focus voters on the economic risks of leaving the EU's single market, pointing to forecasts of a hit from the International Monetary Fund, the Bank of England and most private economists. Campaigning set to resume Another YouGov poll reported on Saturday but based on surveys conducted on Wednesday and Thursday showed the lead of the "Leave" campaign had narrowed to two points from as wide as seven points less than a week ago. A third poll on Saturday, by polling firm Survation, gave the "Remain" campaign a three-point lead, reversing a similar lead for "Leave" in a Survation poll published as recently as on Thursday. A fourth poll, by Opinium, showed the two camp were running neck and neck with 44 per cent support each. That poll was conducted between Tuesday and Friday. While Cameron got support from the Mail on Sunday's backing of the "Remain" campaign, its rival The Sunday Times, which sells around half the number of copies as the Mail on Sunday, said it was backing the "Leave" campaign. The Sunday Times urged voters to vote to leave the EU as a way to press for deeper reform which might make the bloc more acceptable for Britain to actually remain in after a second referendum, an idea floated by "Leave" campaigner Boris Johnson. But Cameron told the newspaper that there would no second chance to decide Britain's role in Europe. "This is an irreversible decision with very bad consequences for the British economy," he said in an interview. Campaigning was due to resume today after a suspension lasting more than two days following the fatal attack on lawmaker Jo Cox, a member of the opposition Labour Party and a strong supporter of Britain staying in the EU. The man charged with her murder, Thomas Mair, gave his name as "death to traitors, freedom for Britain" when he appeared in court on Saturday. (Reuters)

'Remain' campaign gets lead in UK opinion polls

<div style="text-align: justify;">Reeling from the murder of Labour MP Jo Cox, the EU referendum campaign&nbsp;resumed on Sunday, with just four days to go until the critical vote that will shape Britain&#39;s future. 
 
The Remain and Leave camps suspended campaign&nbsp;for three days after the killing of Cox on Thursday. A 52-year-old man has appeared in court charged with her murder. 
 
The polls too close to call, leaders were to hit the television studios on Sunday to begin their final push for votes. 
 
Prime Minister David Cameron, who wants Britain to stay in the European Union, said the country was facing an &quot;an existential choice&quot; from which there would be &quot;no turning back&quot;. 
 
Meanwhile Britain&#39;s Sunday newspapers picked sides in their final editions before the referendum. 
 
The Mail on Sunday and The Observer gave their support to the Remain camp, while The Sunday Times and The Sunday Telegraph broadsheets backed quitting the EU. 
 
Resuming the campaign, Cameron said the British economy &quot;hangs in the balance&quot;, with trade and investment set to suffer in the event of a Leave vote and a &quot;probable recession&quot; that would leave the UK &quot;permanently poorer&quot;. 
 
&quot;If you&#39;re not sure, don&#39;t take the risk of leaving. If you don&#39;t know, don&#39;t go,&quot; he wrote in The Sunday Telegraph. 
 
&quot;If we were to leave and it quickly turned out to be a big mistake, there wouldn&#39;t be a way of changing our minds and having another go. This is it.&quot; 
 
Cameron, finance minister George Osborne and opposition Labour leader Jeremy Corbyn, from the Remain camp, were all set for major TV appearances on Sunday. 
 
Meanwhile Nigel Farage, leader of the UK Independence Party, was set to do the same for the Leave camp. 
 
Remain poll rise after murder 
 
The What UK Thinks website&#39;s average of the last six polls, conducted between June 10 and Saturday, put the Remain and Leave camps absolutely level on 50-50, excluding undecided voters. 
 
The Leave camp had been a few percentage points ahead in recent polling, but fresh surveys showing a rise in support for remaining brought the average neck-and-neck. 
 
They included the first carried out since Cox&#39;s murder: a Survation poll on Friday and Saturday that put the Remain on 45 per cent and Leave on 42 per cent. 
 
The results were the reverse on Survation&#39;s Thursday poll, which had Leave ahead by 45 to 42. 
 
Labour MP Cox had campaigned for Britain to stay in the EU. 
 
She was shot and stabbed in the street in what police called a &quot;targeted&quot; daylight attack in her constituency. 
 
Cox&#39;s alleged killer Thomas Mair said &quot;Death to traitors, freedom for Britain&quot; when asked to give his name at Westminster Magistrates Court in London on Saturday. 
 
He was remanded in custody until his next court appearance on Monday at England&#39;s central criminal court, and a psychiatric report has been requested. 
 
Cox, 41, is survived by her husband Brendan and their children Lejla, five, and three-year-old Cuillin. 
 
The murder, the first of a sitting British member of parliament since 1990, sent shockwaves around the world, drawing tributes from leaders including US President Barack Obama. 
 
A fund created in Cox&#39;s memory by her friends and family has raised more than $820,000&nbsp;for charities close to her heart. 
 
Weekly newspapers split 
 
In making their decisions, Britain&#39;s Sunday newspapers tried to sway their readers in how to vote. 
 
The Mail On Sunday warned it was &quot;not the time to risk the peace and prosperity&quot; of the UK. 
 
&quot;Our deepest desires must somehow be moderated to suit the increasingly tough reality of a competitive world,&quot; the tabloid said. 
 
&quot;Those who would have you believe in the plucky Little England of the past are selling a dangerous illusion.&quot; 
 
The Observer said: &quot;For an international, liberal and open Britain, we need to be part of the EU.&quot; 
 
The choice was between &quot;going it alone&quot; or a &quot;messy, imperfect collective&quot;, but &quot;outside the EU, our role in the world would be diminished.&quot; 
 
The Sunday Telegraph, meanwhile, backed Brexit, declaring that the EU &quot;belongs to the past&quot;. 
 
&quot;The Leave campaign has articulated an ambitious vision for Britain as an independent nation, once again free to make its own decisions,&quot; it said. 
 
The Sunday Times said &quot;Yes, we must be prepared for difficulties, but we should hold our nerve&quot; in voting Leave. 
 
&quot;This vote may be the only opportunity we shall ever have to call a halt to the onward march of the centralising European project. 
 
&quot;We can help our friends face a better future.&quot; 
(AFP)</div>

Sunday newspapers picked sides in their final editions before the referendum. 'Plucky Little England' no longer the way ahead, said The Mail

Reeling from the murder of Labour MP Jo Cox, the EU referendum campaign resumed on Sunday, with just four days to go until the critical vote that will shape Britain's future. The Remain and Leave camps suspended campaign for three days after the killing of Cox on Thursday. A 52-year-old man has appeared in court charged with her murder. The polls too close to call, leaders were to hit the television studios on Sunday to begin their final push for votes. Prime Minister David Cameron, who wants Britain to stay in the European Union, said the country was facing an "an existential choice" from which there would be "no turning back". Meanwhile Britain's Sunday newspapers picked sides in their final editions before the referendum. The Mail on Sunday and The Observer gave their support to the Remain camp, while The Sunday Times and The Sunday Telegraph broadsheets backed quitting the EU. Resuming the campaign, Cameron said the British economy "hangs in the balance", with trade and investment set to suffer in the event of a Leave vote and a "probable recession" that would leave the UK "permanently poorer". "If you're not sure, don't take the risk of leaving. If you don't know, don't go," he wrote in The Sunday Telegraph. "If we were to leave and it quickly turned out to be a big mistake, there wouldn't be a way of changing our minds and having another go. This is it." Cameron, finance minister George Osborne and opposition Labour leader Jeremy Corbyn, from the Remain camp, were all set for major TV appearances on Sunday. Meanwhile Nigel Farage, leader of the UK Independence Party, was set to do the same for the Leave camp. Remain poll rise after murder The What UK Thinks website's average of the last six polls, conducted between June 10 and Saturday, put the Remain and Leave camps absolutely level on 50-50, excluding undecided voters. The Leave camp had been a few percentage points ahead in recent polling, but fresh surveys showing a rise in support for remaining brought the average neck-and-neck. They included the first carried out since Cox's murder: a Survation poll on Friday and Saturday that put the Remain on 45 per cent and Leave on 42 per cent. The results were the reverse on Survation's Thursday poll, which had Leave ahead by 45 to 42. Labour MP Cox had campaigned for Britain to stay in the EU. She was shot and stabbed in the street in what police called a "targeted" daylight attack in her constituency. Cox's alleged killer Thomas Mair said "Death to traitors, freedom for Britain" when asked to give his name at Westminster Magistrates Court in London on Saturday. He was remanded in custody until his next court appearance on Monday at England's central criminal court, and a psychiatric report has been requested. Cox, 41, is survived by her husband Brendan and their children Lejla, five, and three-year-old Cuillin. The murder, the first of a sitting British member of parliament since 1990, sent shockwaves around the world, drawing tributes from leaders including US President Barack Obama. A fund created in Cox's memory by her friends and family has raised more than $820,000 for charities close to her heart. Weekly newspapers split In making their decisions, Britain's Sunday newspapers tried to sway their readers in how to vote. The Mail On Sunday warned it was "not the time to risk the peace and prosperity" of the UK. "Our deepest desires must somehow be moderated to suit the increasingly tough reality of a competitive world," the tabloid said. "Those who would have you believe in the plucky Little England of the past are selling a dangerous illusion." The Observer said: "For an international, liberal and open Britain, we need to be part of the EU." The choice was between "going it alone" or a "messy, imperfect collective", but "outside the EU, our role in the world would be diminished." The Sunday Telegraph, meanwhile, backed Brexit, declaring that the EU "belongs to the past". "The Leave campaign has articulated an ambitious vision for Britain as an independent nation, once again free to make its own decisions," it said. The Sunday Times said "Yes, we must be prepared for difficulties, but we should hold our nerve" in voting Leave. "This vote may be the only opportunity we shall ever have to call a halt to the onward march of the centralising European project. "We can help our friends face a better future." (AFP)

'If you don't know, don't go,' Cameron says as Brexit campaign resumes

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