UK 'Brexit' vote will weaken EU

Significance

This follows a campaign in which the 'Remain' side sought but ultimately failed to make the economy and, in particular, the economic risks associated with leaving the EU the main issue, while the 'Leave' lobby focused on immigration, the alleged cost of EU membership to the taxpayer and the advantages of enhanced sovereignty. This momentous vote means that the mechanism of withdrawal will dominate UK politics until 2020.

Impacts

• The United Kingdom's importance in Washington -- underpinned by diplomatic rather than military or economic clout -- is likely to decrease.
• Russia will seek to take advantage of a weaker and more divided EU.
• Relations with London will become a lower priority for Beijing, and some Chinese businesses will put investment plans on hold.
• Central European governments unhappy with EU pressure to admit migrants will call for a more diverse, less centralised model.