UK Prime Minister David Cameron resigns after British vote to leave EU

- David Cameron has resigned as Prime Minister after Britain voted to leave the European Union.

With the Leave campaign securing 52 per cent of the vote, Cameron addressed the nation in an emotional speech outside 10 Downing Street to announce that he would be stepping down, Telegraph said.

While England voted overwhelmingly for Brexit, Scotland and Northern Ireland backed Remain. Statements are expected to be made by Sinn Fein and the SNP later today calling for a breakaway from the Union. London backed Remain but the turnout was lower than expected because of bad weather.

Cameron said he thinks Britain can survive outside the EU, and find a way.

He said he loves this country, and has been honored to serve it. He will do all he can to help it succeed.

"I was absolutely clear [in the referendum] about my belief that Britain is stronger, safer and better off inside the European Union. And I made clear the referendum was about this and this alone, not the future of any single politician, including myself," Cameron said, according to the Guardian.

"But the British people have made a very clear decision to take a different path and as such I think the country requires fresh leadership to take it in this direction.

I will do everthing I can as prime minister to steady the ship over the coming weeks and months. But I do not think it would be right for me to try to be the captain that steers our country to its next destination.

This is not a decision I have taken lightly. But I do believe it’s in the national interest to have a period of stability and then the new leadership required.

There is no need for a precise timetable today. But in my view we should aim to have a new prime minister in place by the start of the Conservative party conference in October."

Britain has voted to leave the European Union, results from Thursday, June 23’s landmark referendum showed, an outcome that sets the country on an uncertain path and deals the largest setback to European efforts to forge greater unity since World War Two.

World financial markets dived as nearly complete results showed a 51.8/48.2 percent split for leaving. Sterling suffered its biggest one-day fall of more than 10 percent against the dollar, hitting a 31-year low on market fears the decision will hit investment in the world's 5th largest economy.