US presidential hopeful Donald Trump has said it is a “great thing” that the people of the UK have “taken back their country”.
He made the remarks as he touched down at his Trump Turnberry golf resort in Scotland. Interesting timing.
Donald Trump arrives at his revamped Trump Turnberry golf course in South Ayrshire. Photograph: Andrew Milligan/PA
Our reporter on the ground in Germany, Kate Connolly, has sent this report of the reaction in Berlin:
Angela Merkel is meeting her party and parliamentary heads in the
chancellery at 11.30am (10.30am UK time), for an emergency meeting to
discuss the consequences of the UK’s Brexit vote. Various cabinet
ministers are also expected to be present. She is due to deliver a
statement an hour later..
Sigmar Gabriel, the head of Germany’s Social Democrats – the
coalition partners in Angela Merkel’s government – said in an interview
that the British vote does not signal a downfall, rather, “the chance
for a new beginning.”
He called Brexit a “shrill wake up call” for European politicians.
“Whoever fails to heed it or takes refuge in the usual rituals, will
drive Europe against the wall,” he said.
The Plaid Cymru leader, Leanne Wood, has called it a “dark and uncertain morning.”
She said: “People in Wales and elsewhere in the UK have voted to leave the European Union – their will must be respected.
Leanne Wood.
“The top priority now must be to secure political and economic stability for Wales and the rest of the United Kingdom.
“With Scotland voting to remain and a second independence referendum
now on the cards, it is clear that the UK cannot continue in its current
form. Wales, its economy and its communities will soon be at the full
mercy of the Westminster elite and robust action must be taken to
mitigate the impact of this.
“All the promises made by the eave campaign, with regards to
safeguarding grants and financial support for Wales and our NHS must now
be fully honoured, not only up to 2020 under current EU programmes, but
beyond that into the future.
“Plaid Cymru will work to ensure that every penny and every key power
that is handed down directly from Brussels comes to Wales.
“On this dark and uncertain morning for our country, people can rest
assured that Plaid Cymru is united, confident and focused on getting the
best for Wales. We are determined to do everything we can in order to
empower our national institution and protect our communities.”
David Cameron Photograph: Will Oliver/EPA
Here’s the full text of Cameron’s statement: There can be no doubt about the result. Across the world, people
have been watching the choice that Britain has made. I want to reassure
those markets that Britain’s economy is fundametally strong. I would
also reassure Brits in European countries and EU citizens living here
that there will be no immediate changes in your circumstances. There
will be no initial change in how we can travel, how our services and
goods can move. we must now prepare for a negotiation with the EU. This
will needed to involve the full participation of the Scottish, Welsh and
Northern Irish governments to ensure all parts of our United Kingdom
are protected and advanced. Above all this will require strong, determined and committed
leadership. I am proud and very honoured to have been the prime minister
of this country for six years. I have always believed we need to confront big decisions not duck
them. I fought this campaign in the only way I know how, to say
directly and passionately what I think and feel, head, heart and soul. I
held nothing back. I was absolutely clear about my belief that Britain
is stronger, safer and better off inside the EU. I made clear the
referendum was about this and this along not the future of any single
politician, including myself. But the British people made a different
decision to take a different path. As such I think the country requires
fresh leadership to take it in this direction. I will do everything I
can as prime minister, to steady the ship in the weeks ahead, but I do
not think it would be right for me to try to be the captain that steers
our country to the next destination. This is not a decision I have taken
lightly but I do think it is in the national interests to have a period
of stability and then the new leadership required. In my view we should
aim to have new prime minister by the start of the Conservative party
conference in October, delivering stability will be in important and I
will continue in post with my cabinet for the coming months. The cabinet
will meet on Monday. The negotiation with the European Union
will need to take place under the next prime minister, and the new
prime minister takes the decision about whether to trigger Article 50,
the legal process of leaving the EU. I will attend the European Council
next week to explain the decision the British people have taken and the
decision I have taken. I love this country and I feel honoured to have served it. And I
will do everything I can in future to help this great country succeed.
The EU referendum turnout represents the the single highest UK-wide election turnout of the past two decades.
The final turnout was 72.2%, higher than any general referendum since
1997 but lower than that recorded in the Scottish independence
referendum in 2014 when turnout reached 84.6%.
Below is a selection of voter turnout in selected general elections and the 2014 Scottish independence referendum.
Voter turnout
A few months ago the Bank judged that the risks around the referendum
were the most significant near-term domestic risk to financial
stability. To mitigate them, the Bank has put in place extensive
contingency plans and these plans beginning with ensuring that the core
of our financial system is well capitalised, is liquid and is strong ...
All of these resources will support orderly market functioning in the
face of any short term volatility.
The Bank will continue to consult and cooperate with all relevant
domestic and international authorities, to ensure that the UK financial
system can absorb any stresses and can do its job of concentrating of
serving the real economy. That economy will adjust to new trading
relationships that will be put in place over time. And it is these
public and private decisions which will determine the UK’s longterm
economic prospects. The best contributing we can make is to continue to
pursue relentlessly our responsibilities for monetary and financial
stability. We have taken all the necessary steps to prepare for today’s
events and in the future we will not hesitate to take any additional
measures required.
His words have only been of some help, according to our banking specialist Jill Treanor.
Here’s the video of Mark Carney’s statement this morning.
More calming words from Carney:
The capital requirements of our largest banks are now 10 times higher
than before the financial crisis. The Bank of England has stress-tested
those banks against scenarios far more severe than our country
currently faces. As a result of these actions UK banks have raised over
£130bn of new capital and now have more than £600bn of high quality
liquid assets. That substantial capital and huge liquidity gives banks
the flexibility they need to continue to lend to UK businesses and
households even during challenging times.
Moreover, as a backstop to support the functioning of the markets the
Bank of England stands ready to provide more than £250bn of additional
funds through its normal market operations. The Bank of England is also
able to provide substantial liquidity in foreign currency if requires.
We expect institutions to draw on this funding if and when appropriate.
It will take some time for the UK to establish a new relationship with Europe
and the rest of the world. So some market and economic volatility can
be expected as this process unfolds, but we are well prepared for this.
Her Majesty’s Treasury and the Bank of England have engaged in extensive
contingency planning and the chancellor and I have remained in close
contact including through the night and this morning. The Bank of
England will not hesitate to take additional measure as required, as
markets adjust.
Mark Carney makes Bank of England statement on Brexit
Mark Carney. Photograph: Will Oliver/EPA
Mark Carney, the governor of the Bank of England, is making a
statement to try to reassure the markets. He says the Bank will “not
hesitate” to steady the markets. Carney said it will make an extra
£250bn available to the banks.
Shameless bankers were last night gambling billions of pounds on the EU referendum.
Hedge funds had commissioned private exit polls to steal a march on the official declaration.
Armed with the advance information – and a £100billion war chest – their traders went on an all-night 'feeding frenzy'.
They
are thought to have placed huge bets on currencies and other markets,
hoping to clean up by the time stock exchanges opened today.
MPs said the public – up to 40million of whom voted – would be disgusted by the casino-style wagers on the nation's future.
Voters queued in torrential rain and waded through deep water to have their say on Europe.
Tonight,
Nigel Farage appeared to concede defeat, saying Remain had 'edged it'.
As a YouGov poll of 5,000 voters showed a 52:48 victory for In:
-
An operation to 'Save Dave' was launched by Boris Johnson and Michael
Gove to stop the Prime Minister being ousted by Eurosceptic MPs;
- Official figures revealed the population rocketed by half a million last year, largely fuelled by mass immigration;
-
Calls were made for Britain's top civil servant to be hauled before
Parliament for presiding over a 'pro-EU propaganda machine'.
Bank
chiefs laid on sushi, pizzas and bunk-beds to keep their traders
fresh throughout the night, with the reward of Champagne breakfasts. One
analyst said it promised to be the biggest night of many traders'
careers.
Investors could gamble almost £100billion on the outcome of the knife-edge poll, according to Barclays.
+3
John Mann (pictured), a Labour member
of the Commons Treasury committee, said: 'Here we go again. This shows
the difference between all of us and the false world these City traders
and bankers live in – gambling with other people's money'
Chris
Leslie, Labour's former shadow chancellor, said: 'There is something
very parasitical about trying to gamble on the back of the fate of the
nation. While I am not surprised the City is watching this vote closely,
it does leave you with a slightly bitter taste.
'My
main concern is that markets are stable and ordinary people's savings
and pensions are not put on the line in some grand gamble.'
John
Mann, a Labour member of the Commons Treasury committee, said: 'Here we
go again. This shows the difference between all of us and the false
world these City traders and bankers live in – gambling with other
people's money.
'Bankers
have hit the living standards and jobs of people across the country.
They set an appalling example to everyone. It can't get any lower than
this. The country will come together and unite in anger.' Unlike at
general elections, broadcasters did not commission exit polls because of
fears over their accuracy. That has allowed banks to do their own
polling and gain crucial trading information.
Foreign
currency dealers will have been able to exploit their advantage through
the night because their markets stay open 24 hours.
Economists
have told Bloomberg the pound will either sink to its lowest level in
more than three decades, in the event of Brexit, or climb to the highest
level this year if the public votes to remain.
Knowing the likely result in advance will enable traders to buy low and sell high.
And
while the London Stock Exchange was closed, traders could prepare to
bet on shares going down when it reopened today – the practice known as
short-selling.
As
well as causing global financial meltdowns with their reckless
behaviour, greedy bankers have rigged the crucial Libor interest rate
market and have been caught in a string of mis-selling scandals.
Barclays
said around £95billion is waiting to be invested by clients. Much of
this will be from pension and hedge funds, which have been waiting until
the results of the referendum became clearer before placing their bets.
Banks can also gamble their own money.
One
of the biggest 'short' gamblers could be US asset management firm
BlackRock, which employs Chancellor George Osborne's former chief of
staff Rupert Harrison.
Data
from the Financial Conduct Authority showed 134 asset managers
worldwide had 427 'short positions' on firms they believed would fall in
value. BlackRock was by far the biggest, with 51 of these.
Last
night City workers could barely contain their excitement. One described
the referendum as 'an incredible opportunity to make money', while a
stockbroker said there would be 'Champagne breakfasts all round' for
relieved pro-Brussels bankers if Britain voted to remain in the EU.
+3
Barclays said around £95bn is waiting
to be invested by clients. Much of this will be from pension and hedge
funds, which have been waiting until the results of the referendum
became clearer before placing their bets
Barclays,
Lloyds Banking Group and US giants such as JP Morgan Chase and Citigroup
were among those calling in senior traders and workers to 'pull
all-nighters'.
Market
analyst Tony Cross, of Trustnet Direct, said currency and market
traders were getting set for 'the biggest night of their careers',
adding that if Britain did vote for Brexit then they could be camped at
their desks for days.
Crispin
Odey, the founder of Odey Asset Management who made much of his
estimated £900million fortune from predicting the financial crisis, is
among those to have seen private polling of voters. He is one of the
most high profile Brexiteers in the City.
With Remain ahead in opinion polls, investors have piled into sterling.
A group of lawmakers gathered on the floor of the House of
Representatives in a symbolic and futile effort to promote policy that
was unlikely to be effective even if enacted.
No, I’m not talking about gun control, but the Republican effort to overturn the White House fiduciary rule.
As
Democrats were gathering in protest of a lack of a vote on gun
measures, the Republican-led chamber did take a stand on whether to
overturn a rule that would apply fiduciary standards to those promoting
retirement advice. They came up well short of the two-thirds majority
needed to overturn President Barack Obama’s veto.
Democrats in the U.S. House of Representatives continued
their sit-in past 5 a.m. Thursday, chanting "No bill, no break," and
singing, "We Shall Overcome." Photo: AP.
One could argue that maybe
the best place to start on gun control, to build consensus and to
actually reduce violence, is not with a secret list — without judicial
review — that would prohibit firearm purchases. In fact, the no-fly list
on which the Democrats’ measure is based has already ensnared the very
leader of Thursday’s movement, Rep. John Lewis.
This comes as
Brits heads to the polls on whether to leave the European Union. Except,
if they choose to leave, leaders of the Brexit movement have said they
want to pursue some sort of free-trade arrangement with the EU —
meaning, in essence, joining right back up with the same group it left
under similar rules. Also read: U.S. stocks rally as investors bet on ‘remain’ win
Regardless
of how they vote, Brits are due for a visit from Donald Trump, who is
going to a region with even dimmer view of the Republican nominee than
the dismal polls he has at home. Trump has succeeded in ripping apart
the Republican Party, for immigration policies that not only can’t be
enacted but which poison any chance to build a winning coalition.
But
there’s a bigger story here. What Trump’s popularity and Britain’s
desire to leave the EU and congressional displays of symbolic politics
have in common is a backdrop of global trade. Also read:Brexit is one act in the larger drama of alienation, powerlessness, stagnation
It
was inevitable that trade would lift the fortunes of the vastly
underpriced labor of China and India, to the detriment of the workers of
the West who are struggling to hold onto their way of living. Those
struggles are seen in the U.S. and Europe. Fresh data released Thursday
show that median annual household incomes, when adjusted for inflation, are below where they were in 2000.
U.K. Heads to Polls in EU Referendum
Voters headed to the polls on Thursday to vote on whether
the country should stay in or leave the European Union. The outcome
will have wide-ranging consequences in politics, the economy and
financial markets, and potentially affect trade and immigration.
The popularity of Trump and
Brexit also are associated with reflexive racism and hostility to
immigration that peaks at times of economic malaise.
That
economic backdrop, seen in hollowed-out towns throughout the country, is
what propelled tea-party Republicans into power in the first place just
ahead of a redistricting that makes them nearly impossible to unseat.
And for congressional Democrats, why not practice symbolic politics if
substantive ones aren’t on offer in any event?
In the early hours
of Thursday, it looks like Britain will vote to remain in the EU, and
that stocks will rise in relief. And while that’s sensible enough, it’s
only a matter of time before the next crisis roils financial markets.
The global economy demands it.
Workers carry ballots after polling stations closed in the referendum on the European Union in Glasgow, Scotland.
The British pound was shoved to its lowest since 1985 against the
dollar Friday, thrown on a major roller-coaster ride as it appeared the
U.K. was headed toward breaking up with the European Union.
Sterling
GBPUSD, -7.5366%
was trading at $1.3466, a 9.5%
slide from $1.4871 late Thursday in New York as Brexit referendum
results from counting areas across the U.K. rolled in.
Broadcasters
BBC and ITV in the early hours of Friday morning forecast that the
“leave” campaign won the referendum, putting the U.K. on track to sever
its ties with the bloc it’s been a member of since 1973.
Late
Thursday, the pound soared to a fresh 2016 high of $1.5022 after the
last opinion polls and first local results pointed to a victory for the
“stay” campaign.
FactSet
Pound slumps after Sunderland results.
However, the U.K. currency
quickly gave up those gains after the result from Sunderland in
north-east England overwhelmingly pointed in favor of a Brexit. 61.3% of
voters in the area voted in favor of “leave,” better than expected by
most U.K. commentators. A result above 60% was seen as a strong showing
for the “out” side. Read:5 steps the European Union must take regardless of Brexit vote
“To
put tonight’s volatility in perspective, sterling’s plunge on that
Sunderland count was bigger than Black Wednesday’s 4.1% drop. Markets
are incredibly nervous now and it’s definitely tin hats time. If ‘leave’
wins there will be carnage for cable,” said Joe Rundle, head of trading
at ETX Capital, in a note.
Against the euro, the pound
GBPUSD, -7.5366%
was slammed to €1.2305 from €1.3065 late Thursday in New York.
The euro
EURUSD, -2.4156%
was fetching $1.1012, compared with $1.1354.
As investors sought safety, the dollar
USDJPY, -3.18%
bought ¥101.12, down from
¥105.85. It earlier fell to about ¥100 for the first time since 2013.
An illuminated EU referendum sign in Manchester Town Hall on Thursday.
Reuters
It’s official — the U.K. has voted to leave the European Union.
There’s a sense of shock after opinion polls suggested voters would
reject a Brexit.
Stock markets in London and Europe sold off sharply at the open, with
British bank shares taking a particular hit. The pound is on a downward
trajectory.
British Prime Minister David Cameron announced he will step down
Friday morning, saying the negotiations for withdrawal from the EU
should be carried out by a new leader. His replacement is expected to be
selected by October.
“The will of the people to leave the EU must be respected,” British
Prime Minister David Cameron said in a statement Friday. “We must now
prepare for a negotiation with the European Union.”
Bank
of England Governor Mark Carney sought to calm financial markets on
Friday morning, vowing to take all necessary measures to ensure
financial stability after the U.K. voted to leave the European Union.
In a public statement after the historic vote to Brexit, the central
bank governor said the BOE is closely monitoring the fallout from the
referendum and is working with other central banks to preserve
stability.
“We have taken all necessary steps to prepare for this event,” Carney said. “We won’t hesitate to take more measures.”
The BOE governor also said the bank stands ready to provide £250
billion ($344.48 billion) in additional funds to the financial system.
Analysts have started reacting to the news that U.K. Prime Minister David Cameron has resigned.
“This a complete disaster but this was expected. Now we have
political uncertainty, economic uncertainty, consumer confidence may
crash even further and the property market may be hit even harder,” said
Naeem Aslam, chief market analyst at ThinkForex, in a note.
“We have an environment under which we do not know who is going to
lead the country. Bookies will have another thing to play – who will
lead the country and names like Boris and Nigel Farage have popped up.”
The
U.K.’s Prime Minister David Cameron said Friday morning he will resign,
after Britain voted to leave the European Union in a hotly fought
referendum. Cameron had been campaigning for the “remain” side, arguing
the U.K. would be safer, stronger and better off economically inside the
union.
During a speech after the Brexit results were announced, the prime
minister said the break-up negotiations with Europe need to take place
under a new leader. The new prime minister will take over in October, he
said.
“Leaving Europe is not the path I recommended,” Cameron said. “I will do everything I can to help the U.K. succeed.”
Stocks
are selling off in the U.K. and Europe as the markets open, and it’s
carnage out there. British banks are taking a particular hit, as are
home builders. Trading was halted in numerous stocks in Europe at the
start, though they’re tricking back.
Here’s a rundown, but this is likely to be a snapshot of the situation as volatility hits:
- FTSE 100 now down 7.6% - Stoxx 600 falls 8.2% - Stoxx banking index slumps 10% - Royal Bank of Scotland tanks 28% - Taylor Wimpey loses 25% - Societe Generale plungs 30% - Randgold Resources rallies 28% - Gold jumps 5% to $1,328 an ounce - Oil drops 4.8% to $47.72 a barrel - Dow average stock futures lost 522 points to 17,397
It’s official — the U.K. has voted to Brexit.
Shortly before 7:30 a.m. London time, or 2:30 a.m. Eastern Time,
Jenny Watson, chairperson of the United Kingdom Electoral Commission,
made the official declation that the U.K. has voted to leave the union,
with 51.9% backing an exit vote.
The
U.K. stands to lose its AAA credit rating with Standard & Poor’s
Ratings Services, the Financial Times reports on Friday.
Moritz Kraemer, the chief ratings officer for S&P, confirmed to
the newspaper that he expects the political and economic consequences of
a Brexit to lead to a credit downgrade in the near future.
“We think that a AAA-rating is untenable under the circumstances,” Kraemer told the FT.
Brussels
wakes up to a new reality — it has to unwind a 43-year-old relationship
with the U.K. after the “leave” side won in the closely watched Brexit
referendum.
Dutch Prime Minister Mark Rutte, whose country holds the rotating
presidency for the EU, will meet with European Commission President
Jean-Claude Juncker and European Council President Donald Tusk, Friday
morning in Brussels, according to The Wall Street Journal.
Later in the day, European and foreign affairs ministers will have Brexit on top of their agenda at a meeting in Luxembourg.
Leading European politicians reacted with shock to the decision in
the early hours of Friday morning. Alexander Stubb, former Finnish prime
minister, wished it was all a terrible dream.
MarketWatch will be live from London on Facebook as the Brexit vote results come in early Friday. Hope you’ll join us! https://www.facebook.com/marketwatch
The pound has already slumped to a 31-year low, but more weakness is in store for sterling as the consequences of a Brexit unfolds, according to HSBC.
In a note out early Friday morning, the bank’s currency strategists
forecast the pound will fall to $1.25 by the end of the third quarter
and to $1.20 by the end of the year.
“This is a seismic and largely unexpected event which is likely to
have a massive impact on financial markets,” the analysts said.
“GBP-USD will remain under substantial pressure, and could fall by around 15-20% from the high of 1.50,” they added.
Sterling traded around $1.3408 in early trade Friday, down 10%after it became clear the U.K. has voted to leave the EU it has been a member of since 1973.
We’re
just waiting for the last 13 counting areas to declare referendum
results and then it will be official that the U.K. has voted to leave
the European Union.
With 369 out of 382 areas done with counting, the “leave” vote is ahead with 51.7% versus 48.3% for the “remain” camp.
The decision to sever ties with the EU has come as a shock to
financial markets, with all risk assets selling off heavily. The pound
is down 10% against the dollar at $1.3382, the lowest it’s been since
1985.
“U.K. voters have made their voices heard, and now begins the
difficult task of designing an exit from the European Union,” said Tim
Adams, president of the Institute of International Finance.
“The full extent of the financial market and economic impact from
Brexit will not be clear for some time, but it is sure to be very
disruptive in the short term and a drag on economic growth and
employment in the longer term – especially for the U.K. itself,” he
added.
Market
carnage is the only way to describe the trading action as it becomes
clear the U.K. has voted to leave the European Union.
Here’s a rundown of the most significant market moves:
- The pound slumps 10% to trade at $1.3322, the lowest since 1985
- FTSE 100 futures down 8.4% at 5,760, indicated biggest loss since 2008
- Nikkei 225 index, down 7.6%, suspended for trade as circuit breakers kick in
- U.S. stock futures slump, with Dow Jones Industrial Average futures down 3.8%
- Gold rallies 4.9% to $1,324.80
- Oil tanks 5.7% to $47.24 a barrel
The
U.K. is on track to leave the European Union, according to broadcasters
BBC and ITV. In the early hours of Friday morning the two news stations
forecast that the “leave” campaign has won the Brexit referendum and
that the U.K. will sever its ties with the union it’s been a member of
since 1973.
The Sky News results tracker also put the exit side ahead with 51.7%
versus 48.3% for the “remain” side, with 322 out of 382 counting areas
having declared results.
The pound slumped to $1.3329, the lowest it’s been against the dollar since 1985.
The final result — expected around breakfast time in the U.K. — will
mark an end to four months of fierce campaigning that has unleashed an
emotional public debate about immigration and the future of the U.K.
economy.
Brexiteers have argued the U.K. would be better off free from
Brussels’s regulatory restraints and that cutting ties with the EU is
the only way the country can control immigration. The “remain” camp, on
the other hand, has warned that a goodbye to the union would trigger a
wave of economic uncertainty, possibly plunging the U.K. and other
European economies into recession.
Global
markets were shaken to their core early Friday morning as the running
total of votes in the Brexit referendum put the “leave” campaign in the
lead.
The Brexiteers were ahead with 51.5% of the votes versus 48.5% for
the “remain” side, with 289 out of 382 counting areas having declared
results, according to the Sky News results tracker.
Here are some of the biggest market moves:
- The pound slid below $1.35 for the first time since 1985
- Futures for the FTSE 100 sank 7.5% to 5,810
- Futures for U.S. stocks were also sharply lower, with those for the
Dow Jones Industrial Average down 487 points, or 2.7%, at 17,425
- The yen rallied past 100 per dollar
- Gold jumped 4.3% to $1,317 an ounce
- Crude oil slumped 5.1% to $47.54 a barrel
The
pound dropped below $1.35 for the first time since 1985 in early Friday
trading hours as early results from the U.K.’s referendum on its
European Union membership pointed to a “leave” vote.
Sterling slumped to as low as $1.3463, before rebounding slightly to
$1.3607. With 265 of 382 counting areas having declared results, 51.4%
of the voters backed a Brexit versus 48.6% that favored to remain part
of the union.
The pound had late Thursday jumped to as high as $1.5022 on early
indications the U.K. had voted to stay in the bloc. However, as more
local results were announced the vote swung in favor of the Brexiteers.
Our columnist Brett Arends wrote on Wednesday that markets were far too complacent about risks of Brexit.
“We are now seeing why,” he said early Friday morning after the release of the first local Brexit results came out.
“Investors who had bet heavily on Remain ahead of the vote were very
foolish: Not because they should have foreseen the results, but because
the downside risks of Brexit vastly outweighed the benefits of Remain,”
he added. “Blame Groupthink – as usual.”
More Brexit commentary from Brett Arends: “Betting markets are swinging wildly
with the results. Half an hour ago, they were among Leave the clear
favorite. Now they have gone back the other way. Oddschecker says the
bookies offer Remain at 8/11 and Leave at 11/8,” he says.
“The
key issue will be London and its suburbs. They contain a huge number of
votes, they are strongly pro-Europe, and their results are just
starting to come in.”