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3Novices:Brexit latest: Europe

All times UAE

10.12am

Martin Schulz, the president of the European Parliament, said he would have talks with the German chancellor Angela Merkel on ways of avoiding a "chain reaction".

10.11am

Germany's foreign minister Frank-Walter Steinmeier said in a tweet posted by his department: "The news from Britain is really sobering. It looks like a sad day for Europe and Britain."

10am

Martin Schulz, the president of the European Parliament: "We respect the result. Now is the time for us to behave seriously and responsibly. David Cameron has his responsibilities for his country, we have our responsibilities for the future of the EU." Quoted by the BBC, he added: "You can see what is happening to sterling on the markets. I don't want the same thing to happen to the euro."

9.45am

"A catastrophic result for Britain and also for Europe and Germany, that is especially the German economy," said Anton Boerner, head of Germany's foreign trade association, quoted by the BBC. "It is disturbing that the oldest democracy in the world turns its back on us."

Germany's vice chancellor Sigmar Gabriel tweeted: "Damn! A bad day for Europe."

9.20am

The anti-EU French extreme right was also jubilant. Marine Le Pen, leader of the French Front National party and a certain contender in next year's presidential elections, on Twitter: "Victory for freedom. As I've been urging for years, we must now have the same referendum in France and other EU countries."

9.10am

The Dutch far-right leader Geert Wilder, who wants the Netherlands to leave the EU too, tweeted: "Hurrah for the British! Now it is our turn. Time for a Dutch referendum! #ByeByeEU."

9.01am

As Sky TV's projection, at 9am UAE time, said the UK had voted to leave, French media highlighted sterling's most dramatic fall in 31 years. The decrease of more than 10 per cent - even more marked than on the so-called Black Wednesday of September 16 1992, when Britain was forced to withdraw from the European Exchange Rate Mechanism - "seems to confirm the prediction of George Soros [the Hungarian-American financier] of a Black Friday for the British economy," said Europe 1 radio.

8.40am

France's Le Figaro newspaper, speculating on a potential blow from British withdrawal to French fragile hopes of economic recovery, quoted Euler Hermes, a credit insurance division of Germany-based financial services company Allianz SE, as warning the impact on sterling and Britain's GDP would trigger a "significant fall" in UK imports from the EU zone.



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