Britain PM David Cameron Resigns after Brexit Vote

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In the wake of the U.K.’s historic vote to leave the EU, Prime Minister David Cameron announced that he will be stepping down in October.

The prime minister spoke outside 10 Downing Street, and stated that the country needed “fresh leadership” going forward.

Cameron championed the Remain campaign, but was defeated in a 52% to 48% vote to leave the EU. Scotland, London and Northern Ireland all voted to remain.

Nigel Farage, UKIP leader, celebrated the unprecedented vote, calling it the U.K.’s “independence day.”

Nicola Sturgeon, Scotland’s First Minister, said she is determined to keep the country in the EU. A second Scottish independence referendum is “highly likely,” she says.

Boris Johnson, former London mayor and the face of the Vote Leave campaign, is now frontrunner for the role as prime minister. Johnson says there is “no need for haste” regarding the negotiations on leaving the EU.

The former mayor said the U.K. now has the opportunity to set its own taxes, pass its own laws and take control of its own borders.

The pound plummeted to a 31-year low against the dollar on news of the U.K.’s exit from the EU.

The European Parliament will hold an emergency session to discuss the matter on Tuesday.