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ARTICLE · 28 JUNE 2016

United Kingdom Votes To Leave The EU

Jones Day
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The UK referendum has voted 52 percent to 48 percent to leave the European Union. This is the first time in the history of the European Union that a Member State has voted to withdraw from the trading bloc.

European UnionGovernment, Public Sector
John Phillips
John Phillips
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The UK referendum has voted 52 percent to 48 percent to leave the European Union. This is the first time in the history of the European Union that a Member State has voted to withdraw from the trading bloc. What happens next?

The UK and the rest of Europe face a prolonged period of uncertainty. The referendum result is not binding on the UK Parliament, which still needs to decide whether, when and how to implement the decision. The contingency plans that financial institutions and other businesses have been making since the referendum was announced are now being revisited. Whatever lies ahead, the reality is that it will likely take at least two years to give effect to the UK's separation from the EU.

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