The people have spoken. Britain’s decision to leave the EU is the biggest shock to the continent since the fall of the Berlin Wall. The repercussions will be felt in the UK, Europe and the west.
More than four decades after joining the European Economic Community, the UK has elected to cut itself adrift. Since 1973, EU membership has anchored its foreign and economic policy. Britain will now leave the bloc of 27 other nations and its guaranteed access to a market of 500m. It is hard to see a way back.
Throughout the referendum campaign, the Financial Times has argued that leaving the EU would be an act of self harm. This vote will damage the economy and weaken Britain’s role in the world. It is also a devastating blow to the EU.
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