Let june 23rd go down in our history as our Independence Day he as a message for the future of the European Union. Im thrilled that weve done this. I believe the other big effect of this election is not what happened to britain but the rest of europe, the rest of the eu, other countries vefr talked about leaving the eu now they are. An opinion poll of the netherlands said they want to leave. We maybe close to nnexit and similarly in a majority of there, in favor of leaving. Im told the same may apply to swedingen, austria and italy too. The eu is failing. The eu is dying. I hope we knocked the first brick out of the wall. I hope this is the first step toward a euro of sovereign nation states, neighbors, friends but without flags, anthems or useless unelected president s. One of the other leaders of the leave movement called for calm during this news. I think it is incumbent on all of us to be very calm remember that our responsibilities to the future of the United Kingdom and Work Together to start a process, because this is simply the beginning of the process of initiating leaving the European Union. In the long run, i think we will find that both europe and the United Kingdom will emerge stronger as a result of this. As we have said, markets across europe and asia plummeted in early trading in response to the brexit news. Now we have news that Angela Merkel will make remarks later this morning. Boris johnson is expected to speak shortly. He is very eager for the leave campaign to be a success. Welcome, bill, i heard you described its a Seismic Shift. It is. Good morning. The police car going past. Im just outside of downing street where David CameronJust Announced his intention to resign as Prime Minister. Its an earthquake not just for him but for britain. I would say for the European Union and it will cause shock waves globally financially and politically. You will not only see the british stock market and other markets tumble, british currency already plueted but an affec on wall street and may be a medium term effect on americans Retirement Savings as a result of this. This is huge. This is the first country to leave the European Union since its foundation. Britain is not just any old country, its a really, really important member of that union. Until now it has been 5842 broadly and just about every region except london and the country of scotland, just about everywhere, with a few exceptions voted to leave. This was a shock. Nobody was expecting it. Not most journalists, not financial power houses and most Business Leaders have campaigned for britain to stay, but the british people spoke and they spoke with a very loud voice. They did, indeed. It is still a 5248. If you look at the numbers overall, this is a very divided country, albeit by less than a million vote but the total vote count leave. It is not ideally split down the middle but close. How do you expect it to parlay in the days ahead where you have a lot of people that want to stay and yet they are going . Yeah, you can analyze the numbers but 100 meter sprint for the gold medal at the olympics a naughtnaught second can win you the gold. No one was expecting 52 to 48 to leave the European Union. Im afraid the decision as David Cameron and others said all along. This is revocable. Theres no going back. Britain will spend two years, maybe more negotiating how it untangled itself from almost a half century of trade deal and legal deals with the European Union even comes down to 15 million or 65 million new passports because british people will not be able to have a European Union passport. Theres a lot to work out. This is one reason David Cameron said i need to resign because i should not be in charge of negotiating with the European Union when people decided to leave. It was a huge gamble by him. A gamble of his political future, a gamble on britains future when you think that really what it started out as his attempt to kill off euro skepticism within his own party, to scare off the rebels in his party that kept going on and on about how bad europe was. He tried to finish them off by throwing it open to the british people. That gamble failed speblg tack larry. One final question, technically speaking, this has to go through parliament. U. K. Parliament has to approve this. Is there a time frame in which this will be done . Many things have to be repeated from the 72 european communities act . It is an interesting point you bring up. Legally this referendum, in a sense, has no forth. It is parliament that decides what happens to britain. It would be almost inconceivable for 650 british lawmakers to defy what the people of britain have just clearly said. Point number one, beexpect it to be ratified in parliament. The timetable in fact after this vote the timetable is largely unknown. It may take two years, it might take five. Frankly nobody knows. David cameron hasnt said when he will, you know, trigger the clause in the union rule book that says britain will leave and were still members of the European Union this morning but we signal our intention to leave. The time frame isnt known. It is completely new, unprecedented territory. Thats what the markets, for example, hate while they want certainty and what they have this morning is huge uncertainty. Thank you very much. Here in the u. S. Dow futures are down. Joining me is the editor for the daily beast. Welcome to you. Your initial thoughts when you heard they are taking off . My initial thought is the centrifugal forces unleashed here are tremendous. In europe there are calls for referendums in france, in the netherlands, in other countries, as well. Its a tremendous benefit to the extreme right wing. One called it a try um for freedom, the leader of the far right national party. In the netherlands the leader of the far right party. What is lost in the debate is how much fear is driving this, the migrant crisis was driving this vote, this idea that terrorism could spread from a continent to england. All of that factored in to an emotional debate about the referendum. Its not just dollars and cents story. Although the crashing markets are the focus of world attention. Absolutely. As we continue our conversation, we are keeping our eyes above the skies of turn bury, scotland. We expect him to make a statement. Whether he will address this or the situation with his properties in scotland, were not entirely sure. We will bring that to everyone, as well. Christopher, it can essentially be boiled down to three arenas, economics, immigration and identity. Are those the three arenas for which people were passionate and got their thought processes going an then made their decisions . That and resentment of the condescending heavy bureaucratic position always taken by brussels. The idea you have this unelected leader in brussels. Nobody knows his name, nobody voted for him. You have this overlay of european bureaucracy that the british resented and even cameron used to talk about as been onerous and problematic. The british already had their foot out the door. They are not part of the eurozone. They dont have the euro as currency. They didnt have, in fact, real open borders the way they are on the continent. They were half in and half out of europe. Now they are trying to persuade the world they can renegotiate everything and they have access to european markets like before. I dont think that is true. I think we are running in to a situation where all of the brits that retired here in france and spain who could do so because they are europeans and easily i dont think they will find it easy anymore. Those europeans who were studying and working in britain, to a great extent supporting the british economy they will find it difficult, as well. I think we are heading in to, as bill was saying unchartered territory. As you and i have spoken so many times before in our broadcast, we talk about the security of the brits there. There have been certainly many attempts and some tragic lip successful ones. Does this affect britains ability to keep itself safe . Was there a communal effort with the eu in terms of security it might be a stronger place as we all see donald trump landing there in scotland. We will keep an eye on that as we continue our conversation with Christopher Dickey . Look, the coordination was never as good as it should have been. There was always coordination between british security, french and European Security but gaps in it as well. On the other hand, the borders to britain were not open. The checks that were imposed even on people taking the eurostar were sometimes surprisingly tough. I dont think it will change the security environment much in britain. On the other hand, i think the thing we have to look at going back to the question of identity, this is england voting to pull out of the European Union, very much england. Northern ireland and scotland voted to stay. We already have sinn fein saying we want to stay in europe, we should unite with the republic of ireland and the leader of the Scottish National party is saying scotland should have a new referendum and we should join europe. It is centrifugal forces in the United Kingdom that may not be united much longer. I find it curious, the fact that scotland heldal referendum 18 months ago and it failed. It was a close vote but why do you think scotland will pursue independence in all likelihood opposed to staying with Great Britain when you said they argued to stay within the European Union as a whole . Well, i think they feel the scottish have always felt, sometimes rightly so, neglected by england. They feel the economy is dominated by england. Everything is english. People use english and british interchangeably, not the scots they have a strong sense of National Identity and the European Union has been a framework that allowed people to have group like the scots to have a strong sense of National Identity within this overall framework of the union. Thats going to be much harder as the u. K. Falls out an i think the scots will try very hard to join the European Union and not pull out. I think that will be a serious problem Going Forward. As we talk about scotland, we are looking at donald trump. Hes arrived in scotland to much fanfare, you see probably on the front of those red hats as part of his slogan his Campaign Theme make America Great again. In all likelihood folks have wearing those hats that he has had during the campaign. We dont know the nature of the comments he will be making but he will give a conference here. We will have it live. He owns property there and theres been some controversy about his property in aberdeen specifically and we will see if he addresses that a, as well. Christopher dickey, thank you very much. We will keep you on retainer and not far away from us. In the meantime, as we say thank you to christopher, also letting you know Michael JohnsonBoris Johnson, rather, the former mayor of london we expect him to make some comments, making his way too the podium. He was a vocal supporter of britain leaving the European Union and hes been met with success. When he takes the podium we will take you there as well. Well be right back. 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I hope it is the first step toward a euro of sovereign nation states, trading together, neighbors together, friends without flags, useless unelected president s. We are keeping an eye on the imminent speech. We will take you there as soon as he take the podium. Joining me from london, matt bradley. Lets talk about the Ripple Effect in terms of the economy. What are we seeing . You are starting to see politicians like nigel farage trying to shore up positions in a new political order. Markets are following suit. Here in london the markets have just been open an hour. I want to share the shocking statistics, the massive Ripple Effect that will wash up on to the american borders once markets open in new york. The british pound already plunged to a 31year low overnight. That is trading at 1. 37 to the pound. The british stock market plunged 7. 7 , already in just an hour of trading. Britains five largest banks, their stocks have fallen by an average of 21 . We are just talking about here in britain and the European Union. We havent even seen implications in the u. S. Yet. With regard to the United States, our dow futures has been report down as much as 433 points and even further. The turmoil we will feel here in the United States as related to the eu, as related to the british pound, is there conventional wisdom on how long that is expected to last . All of this is so fluid we really dont know. The thing is this process of negotiating a brexit or an exit from the european is expected to take two years but those championing said it doesnt have to be so speedy. We can negotiate for several years. We could see a slow rollout over the next several years and massive instability that could purr assist for quite a long time. We dont know what this is going to look like Going Forward. The u. S. Chairman of the fed janet yellen already said it could cause massive instable for u. S. Markets and a rise in the u. S. Dollar that could hurt u. S. Exports. Matt bradley, nbc london. Senior fellow at the new america foundation, treasury official with a couple of administrations. You have been a busy lady. What do you expect to see happen when the stock market opens in a few hours . Definitely down in the morning, no question about that. It looks like the s p is down significantly. It will probably start to come back a little during the day as things calm. The head of the central bank in england, their equivalent of janet yellen was focused on saying we have the tools necessary to back up this economy and make sure we have orderly markets. He was focused on liquidity, making sure that markets understand that players both in the u. K. And the Global Economy understand they are not going to let this be a contagion episode. That is important to know. He mentioned 250 billion of liquidity they are willing to put in the market if necessary. I think as he is clearly having conversations with janet yellen and leaders around the globe trying to maintain panic in the first couple of days is important. It is a weekend and we will have two days for everybody to panic. Hopefully as next week unfolds people will calm down a little bit. What about the affect on trade . Britain has been a great exporter of goods. Theres going to be tariffs imposed and more expensive. They are a bigger importer. For the average britain everything they buy is more expensive both new tariffs in place and because the british pound has fallen so much. Everything becomes more expensive. As they negotiate, tariff agriculture is a big deal across the eu. 40 of the budget is spent on agriculture right now and that a lot of that comes to british farmers. They have to negotiate the different pieces over the next two years. The less impact for trades immediately but because of the chop in the market, the currency coming down, because borrowing costs maybe more expensive those things will feel effects immediately. I will ask you to stay with me. Back over to paris to Christopher Dickey. You may have heard Nigel Farrage talking about it may be the first brick in the wall, indicating the dutch, swedes, ill at thely may follow suit. Talk to me about the french. How will it be interpreted in paris . I think people try to ignore the fact that marie is very strong. But the fact is all polls show right now in the first round of the president ial elections, which will be in april or may of next year, she will come out the winner in that first round. There will be a runoff she maybe will lose, probably will lose but shes a powerful politician. Shes calling this vote for liberty, a vote for freedom. Shes saying there has to be a referendum in france. France in 2005 when there was a referendum on what was then the new european constitution, the french voted it down. The french are not hugely enthusiastic about the european experiment. As a result, you have the question about whether a country that is a Founding Member of the Economic Community and of the