Britons vote on EU membership after bitter campaign

If Britain becomes the first state to exit the EU, the so-called Brexit would be the biggest blow to the 28-nation bloc since its foundation

Bs_logoImage via Shutterstock
<a href="http://www.shutterstock.com/pic-338831222.html" target="_blank">Image</a> via Shutterstock
Reuters London
Last Updated : Jun 24 2016 | 2:33 AM IST
Britons voted on whether to quit the European Union in a bitterly-contested referendum on Thursday that polarised the nation and could change the face of Europe.

Financial markets, on edge for weeks over the uncertain outcome, rose on the strength of late polls that showed a swing towards staying in, but the bulk of recent polls have suggested the outcome was too close to call.

If Britain becomes the first state to exit the EU, the so-called Brexit would be the biggest blow to the 28-nation bloc since its foundation. The EU would be stripped of its second-biggest economy and one of its two main military powers, and could face calls for similar votes by anti-EU politicians in other countries.

If it votes to stay, Britain has been promised a special status exempting it from further political integration but European leaders will still have to address a sharp rise in euroscepticism across the continent.

A Brexit vote would also deal a potentially fatal blow to the career of Prime Minister David Cameron, who called the referendum and campaigned for the country to stay in, against a Leave camp led by rivals from within his own Conservative party.

After four months of campaigning, polling stations opened at 0600 GMT (11:30 IST)and were due to close at 2100 (2:30 IST), with results expected to be announced by the 382 individual local counting areas between around 0100 (6:30 IST) and 0300 (8:30 IST) on Friday.

The Leave campaign says Britain would recover full sovereignty and the economy would benefit from a Brexit. It focused its campaign on warnings that Britain would be unable to control immigration levels as long as it was an EU member.

Remain says a Brexit would cause financial chaos, impoverish the nation and diminish its influence on world affairs, emphasising the economic benefits of membership and the risks posed by leaving.

The campaign was suspended for three days after the killing of pro-EU member of parliament Jo Cox a week ago, which prompted soul-searching about the vicious tone of the debate.

An Ipsos MORI poll for the Evening Standard newspaper found support for Remain on 52 per cent and Leave on 48 per cent. A Populus poll put Remain 10 points ahead on 55 per cent. Both were conducted on Tuesday and Wednesday.
Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 24 2016 | 12:30 AM IST