for britain, what kind of britain would it be if it left the european union? during the campaign, we did not hear much about that. it would totally remake the politics of the country. even if it were to remain, which is less of a story, but still a massive headline, still historic, it would leave this issue of this sort of, i don't know, it will be at least four out of 10 votes who don't like modern britain, who are worried about immigration. is something familiar to people in the united states, the idea of red states and blue states. it is not an exact comparison, but there is a significant chunk of the population that is angry about stuff. katty: and will have lost, whichever way it goes. or won. someone is going to lose. thank you so much for coming in. still to come, the eu referendum is coming to a close. in scotland, donald trump is in town, bringing presidential politics with him. lawmakers in washington ended the 25 hours sit in at the u.s. house of surpriseatives in a mass action which went on through the night. they were demanding congress vote on gu

it's not britain no more, is it? >> it's too much a mixed bag. >> and we are attracting too many people. yes, the wrong people, the wrong kind. >> the eu opponents are popular here. many britons believe the eu's policy of free movement of labor is wrong. jonathan: i hope that the eu implodes. it's an artificial construct. we face 2 tyrannies in this country. one is islamic fundamental terrorism. the other is the tyranny of european bureaucracy, which is imposing rules and regulation upon us, that we have little control over. >> so what would a brexit mean for boston's polish community? they come to st. mary's church every week. mass is now also held in polish. many members of the congregation are worried. they say the brexit debate has stirred up resentment against them, although they have helped to make boston prosperous. father kowalski: because we came here with education, with culture, and people are ready to work, they pay taxes. and yes, i think we enrich this country. >> the eu opponents are out in force of th

britain has been a great exporter of goods. there's 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 tr

will britain manage to hold together? will scotland decide that it wants to not go along with this and have its own referendum to leave britain? already members of scottish independence parties are suggesting that that is what they would want. the implications, people are arguing over in the long-term. in the short-term we're already seeing questions like that being raised. we're seeing the british pound drop big 10%, the lowest since 1985. the euro dropping too as some countries, some politicians, some lawmakers in other european countries say they too want a referendum to see if their country can leave the european union. so there is a question mark over the future of the european union itself. and that raises another question that many people have been asking and concerning themselves, worrying about. and that is whether the european countries will effectively try to punish britain, will not agree to any deal with the uk that is favorable to the uk, in order to ensure they send a message to other peoples in other europ

they are not coming into britain. we are going to do all the things that, for instance, donald trump says he's going to do in the united states. at the same time, we are going to be independent and able to deal with the globalize zed world and be fast movers and great businessmen. it's all crap. that's not what's going to happen. what's going to happen as the ft pointed out is people are not going to be able to move around. young people in britain are not going to be able to do that. people who are working in britain are going to have to leave or re-negotiate their status. it's going to be a disaster. >> for the grace of god, this is happen. your vote does count. thank you both so much. >>> coming um, could it happen here? britain's vote to leave europe is the same anti-elite, an anti-immigrant forces powering donald trump's campaign. i'm going to ask james what hillary clinton needs to do for an emerging global trend. >>> plus, financial markets have plunged in the brexit vote. the decision to leave europe is your mo

i don't see any way that britain can get around it. if they try to do it without invoking article 50, i think that's going to be a real problem, a real fight. i don't really know how this is going to work out. it's hard to see a solution. the to satisfy those pore brexit for immigration reasons. >> nicholas, thank you very much, indeed. amara, that is the context of london. and i think he put it very well, we don't know how it's going to work out, but we're trying to work it out for you. >> no one knows just yet. we're going to to take a short break. from here, when "cnn newsroom" returns, stepped down lately? we'll tell you about with another resignation, but this one has nothing to do with that. but hillary clinton campaigns with the potential running mate with some harsh words for donald trump. >> what kind of a man roots for people to lose their jobs, to lose their homes, to lose tir life savings? i'll tell you what kind of a man. a small, insecure, money grubber who fights for no one but himself. sfoo with my moderate to severe ul

many of the things that have changed in britain have changed because the policies of succession of britain -- british governance. >> the issue you raised about whether the british people were sold something they did not know what it was they were buying, both when we entered in 1973 and in the referendum -- it was resolved more or less. the british prime minister has made it clear at the time this was much more than a market. this was not just a market. this controversy over what this thing is has run and run and run . it's never satisfactorily been resolved in the u.k., largely because you've had a leader who is prepared to make the case to the british people, what is this about, why are we in it. laura: just the point then. -- just another point then. an argument that the brexit camp are making is, why would britain want to be tied to the european union? when you look at the big issues, the migrant crisis, the eurozone crisis, what an absolute failure that has been -- why tie a country to something like that, to a project that some people might -- say might fall apart in the next 10 to 2

voting is underway in britain right now. the country is deciding whether or not to stay or leave the european union. polls, they're closing in less than three hours from now. today's results will have big impact on our markets, on our economy, their economy, of course, and national security. our own charlie gasparino is joining us right now from london with the very latest. charlie? >> polls are pretty tight. if you believe the polls, it maybe slightly give the edge to remain vote as opposed to "brexit," which means britain exit but the bookies, this is very interesting, a lost gambling -- lot of gambling, bookies believe a large margin britain will vote to stay in the eu. that is what we're hearing. i have been out and about interviewing people. cosmopolitan, extreme remain crowd. even anecdotally it is 50/50. whether the bookies are right, polls are right, i can't tell you. we'll know three a.m. london time. 10 a.m. new york time where this goes. and listen, if the markets priced in remain vote, here is where it gets inter

why britain -- britain has a different relationship with the european union. then many of the core members, and that is rightly so. it does not mean that what people were voting for now was not powered by different arguments about why they did not like the status quo. i don't think a large number, a large share of the british public has been festering as the main thing they are concerned about is anti-europe. it is like leaving the tory party. [speaking simultaneously] charlie: one, the economic followed, two, the strong surge of nationalism and sort of right wing, for lack of a better word politics. ,zanny: let me to the second one first, because it links what we are talking about. we are already seeing a surge of populism of different flavors. we are seeing it on your side of the atlantic with donald trump. we have seen it in austria, we have seen in poland, we have seen in marine le pen. it is a big victory for the angry brigade, and it should be a wake-up call for everybody else. i hope they take the import of this event. what happens in terms of the econo

even if britain does decide to stay, what does britain make of this, how badly has the anger damaged the relationship with the eu? max: it is not necessarily that anger because the anger is nothing new, it has been around for a while and it is nothing exclusively british. you find that anger in france, germany, the netherlands. i do not think the anger itself will damage the relationship. but you are touching upon a very important point because even if the united kingdom remains part of the european union, and many officials have hinted at this, there will be some rethinking of european union, some are calling for a conclave of the leaders of the european union. try to figure out what holds the student together, tried to figure up what the path is moving forward and how to win back the hearts of the citizens of the eu. sarah: i want to talk about a more monday topic -- the weather. -- more mundane topic -- the weather. what sort of impact are you seeing that have on the turnout? birgit: the weather is really tragic, it is almost ironic. they had been plagued by this rain which is so

should britain be in or out? throughout the 43 years, the relationship's been intermittently fractious. britain gained economically but quarrelled over money and subsidies, not least over the kofn serve tore ship of margaret thatcher. in 1992, britain stayed in the club but declined to join the common currency, the euro. >> it is time for the british people to have their say. it is time for us to settle this question about britain and europe. >> reporter: cameron's evident motive was to quell the eurosceptic voices within his own party and make the case against the far right independence party. >> i will be advocating vote leave or whether the team is called. >> reporter: superficially the referendum was a story of ambition. a political heavy weight the political boris johnson coming out for the campaign. the cartoonists revelled in it. steaming down the line, boris at the controls of the brexit express, an anxious cameron roped to the rails. >> i believe that this thursday could be our country's independence day

it's not britain no more, is it? >> it's too much a mixed bag. >> and we are attracting too many people. yes, t the wrong people, the wrg kind. >> the eu opponents are popular here. many britons believe the eu's policy of free movement of labor is wrong. jonathan: i hope that the eueu implodes. it's an artificial construct. we face 2 tyrannies in this country. one is islamic fundamental terrorism.m. the other is the tyranny of euroropean bureaucracy, which is imposising rules and r regulatin upon us, t that we have little control ovover. >> so what w would a brerexit mn fofor boston's polish comommuni they come to st. mary's church every week. mass is now also held in polish. manyembers of ththe congregation arare worried. they say thehe brexit debabate s stirred upup resentment agagaint them, although they have helped to make boston prosperous.s. father kowalski: because we came here with education, witith culture, and people are ready to work, they pay taxes. and yes, i thihink we enrich ths country. >> the eu oppo

over this result in britain. then you have france. , the eu is less popular in france than in britain. there is a lot here that can go wrong. this is quite a shock to the european system. they are going to attempt to form an election in the tory party. we might have two new heads of the two major british parties who are going to have to try to put the economy back together in some way. treaties,of trade deals, agreements. describe the challenge for whoever it is who ends up running the tory party, how big is the economic challenge? >> it is huge. britain has been in the system for 45 years. it is woven through the british legal system. i've seen part of the complaints . , it is immensely bound up with the european system. it isn't just a question of renegotiating a trade deal with europe. britain has to renegotiate trade deals with all its other trading partners. that work was outsourced to the eu. whereof are these people going to be found? it has to be done quickly. on greaterthis drags the risk the uncertainty

it was still controversial in britain. by 1975, the brits were so conflicted bit already that they held a national referendum on whether or not they should get out of europe, right after they had gotten into europe. that referendum in 1975 was not close, interestingly. people thought it was going to be a lot closer than it was. they thought the brits were much more likely to get out of europe than they were. ended up being a 2-1 "yes" vote they should stay in. that was 1975. that was the last time brits voted on whether or not to stay in the european union or a predecessor of it. since then for the past 40-plus years, britain has been a cornerstone of a version of winston churchill's united states of europe. that structure, that idea of something holding europe together, ensuring peace in europe through economic integration, making war between european countries unthinkable because they were so interlinked that they could never really see each other as enemies again and they could never afford to wage war within europe aga

britain in danger? or was that a scare tactic? we'll talk about it. bill: could a trip to the doctor be hazardous to the your health? there is a brand news fox news documentary we'll introduce to you next half hour that reveals disturbing findings about health care in america today. >> 60 days being a nurse i saw a patient killed by medication error. >> tell me what happened. that must have been such a shock to you. fresh out of school on the job. excited for career. >> worst than that. i discovered the medical error. now you can. when you lease the 2016 es 350 for $329 a month for 36 months. see your lexus dealer. bill: want to keep an eye on this, trading for 62 minutes on wall street. the dow is off sharply. not as bad as bit earlier. to the negative side, 384. 382. we'll see ultimately where we are at the close. we'll watch this stuff as we work our way through the day. 1032 here in new york. martha: breaking news. a new fire has broken out in california already burning, more than 100 homes to the g

the eu is britain's most important trading partner. britain exports half of its products to european countries and imports more than half of its products from the continental. to maintain this level the u.k. would need a free trade agreement. without won the u.k. would have to pay tariffs. brexit supporters are banking on the fact they will be able to cut a special deal with the eu. >> the special access is wishful thinking. it is not going to be easy to come to a special trade arrangement for the united kingdom. the european union has a huge body of law that sets the rules of the single market. >> it is likely to be complicated and messy. the stage is set for nigel farage to take a much bigger role in british politics. >> global markets have reacted swiftly to the brexit vote. daniel winter has more on that. >> there is a huge drop in the value of the pound. emergency managers were hit by the brexit shockwave. we will get the latest in just a moment. first a look at what economies are feeling the pinch. >> asian market sold off heavil

to say britain is anti-e.u. for decades isn't right. >> 40% of labour voters voted to leave the e.u. >> that was a protest against david cameron. >> the most pro european union party there is. >> they won't want to remain in the predicament they have been in the last six years. they haven't liked it. >> that's taking constructionism way too far. it's clear what people were voting for. it's drew britain is deeply skeptical. that's why we didn't go to the euro. >> there was talk of what people were voting for. people were voting against the e.u. because the e.u. was give bent to the status quo. now we're seeing the facts that people were not voting for anything concrete because they were promised a trifecta of things they couldn't v. some people were voting to stop immigration. some people like your description were voting for a little singapore, a free trading liberal nation. some were voting to get back to the '50s. they were different and completely inconsistent views and that's why we're in the predicament we

a britain that is free, a great britain that is sovereign and can make its own decisions, will be a far stronger allied force of the united states. president obama was absolutely theg to intervene in british state. i would describe the thervention as a slap in face of the british people. he comes over to america's closest ally on the international stage and tells dare leave theey european union, they will be at the back of the queue for a free trade deal. this is an extraordinary intervention by a u.s. president , not only giving the wrong advice, but also speaking in a condescending tone towards a very close friend and ally. needless to say, the intervention backfired. i think most british people rejected the idea that president obama should be lecturing the british people on how they should be voting in their own referendum. , that britaint would be at the front of the queue for a u.s.-u.k. free trade deal post brexit. andou look at the depth size of the u.s.-u.k. financial the largest, it is by investment relationships in the world. states has $5 trillion of assets in the united king

there are regulations and laws that britain has signed on to, the way it conducts business in britain, is in concert with the way that other europeans do, as a result of this agreement over the last 50 years. so, now all that needs to be rewritten, not even the actual notice to the eu could take place for many, many months. britain has to notify the eu that there's two years of negotiation on how town tangle -- >> that period in the middle where there are no rules for -- what happens for the next two years, three years? >> what cameron just said is correct. they operate as if they are part of the european union until that is dissolved. >> that sounds awkward. >> free movement across borders, beings relationship is the same. the immigration issue does not stop and it's not just immigration for the middle east and europe. it's immigration of eastern europeans into the labor market in britain that has caused this kind of feeling of nationalism, to rise. and that's what you're seeing expressed here. >> is this the beginning -- our stock markets, the dawes is down three percent, the send d

britain leaves. aere is a disaster, in that man like boris johnson might become prime minister, which is disastrous for britain. talk about europe. camp in places like france, 61% of the population unfavorable of the eu, they demand a referendum. in denmark, they demand a referendum, where there is an anti-european party with more votes than any other party. in poland, people demand a referendum, and the whole thing starts to fall apart, the whole project starts to fall apart. permany is left with a few rum states hoping for handoffs from the german table, and that is cast as the european union, which is really just a neocolonial project. this, i admit, is the worst possible outcome, but it is not totally unrealistic. that's the terrible thing. peter: ulrike, do you buy into this? ulrike: i don't. politically, europe might be divided, but economically we are bound together. it is a very small continent, with very tight economic affairs. it is impossible to somehow get independent economically, and th

i think britain should leave. the question you talked about the lack of sovereignty also just a fundamentally anti-democratic institution. the e.u. has four presidents, none of them elected. you have this parliament at the e.u. but to initiate legislation that comes from unelected bureaucrats who make those calls and britain, we have to say you have made progress cutting the corporate tax rate. >> absolutely right. i think a fundamental democratic deficits in the european union, unelected bureaucrats and european commission across the e.u.. there are five e.u. presidents, 99% of the british people could not name more than one or two. that is the current state of the european union. >> you get out of the e.u. under this scenario, people vote to leave, ridley is saying with the internet and the wto bringing down trade barriers, it is not that big a benefit to be in the e.u. versus what it used to be. does that make sense to you? >> britain is far better off outside the e.u. in terms of negotiating free-trade deals a

less useful there in a britain outside of the european union. and there's going to be a spillover impact on the european union. it is interesting that stock market have fallen more in europe than they have in britain. that is fear of what i call political contagion. you saw the netherlands and france use the brexit vote as a refund up for we should have a vote too. in france, the sentiment for leaving the eu is even stronger than was in great britain. the final point is the impact on the entire world. i think in a year or two we'll have worked our way there out short-term impact on sentiment , the short-term impact on the stock market, but we have talked how this is a reflection and point move away from globalization. if we have higher barriers to the move of goods and products, less free trade, that is ultimately a slower growing world. charlie: will that happen, though? in other words -- >> that's a very good question and what i've found interesting about brexit, it's been a test for those of us as people tend to see what their priors were. if

it was still controversial in britain. by 1975, the brits were so conflicted bit already that they held a national referendum on whether or not they should get out of europe. after they had gotten into europe. that referendum in 1975 was not close, interestingly. people thought it was going to be a lot closer than it was. they thought the brits were much more likely to get out of europe than they were. ended up being a 2-1 "yes" vote they should stay in. that was 1975. that was the last time brits voted on whether or not to stay in the european union or a predecessor of it. since then for the past 40-plus years, britain has been a cornerstone of a version of winston churchill's united states of europe. that structure, that idea of something holding europe together, ensuring peace in europe through economic integration making wear unthinkable because they were so interlinked they could never see each other as enemies again and never afford to wage war within europe again. that idea over the years, it evolved from that initi

why he says it is the best thing for britain and britain's small businesses to leave the european union. >>> closing bell, 36 minutes away. macy's investors having a little parade of their own today after america's biggest department store chain announced the ceo, terry lundgren, who's to done a lot of great things for the company, is stepping down at the beginning of the year. he will remain as executive chairman, but stock is up 2%. >>> what do sean hannity, construction, wounded warriors and lizzie claman of "countdown" have in common? well, it was a life-changing night for some of america's greatest heros. we'll tell you all about it. i was there, so proud to be part of it, next on "countdown." 9. ♪ ♪ finish this is your daughter. and she just got this. ooh boy. but, you've got hum. so you can set this. and if she drives like this, you can tell her to drive more like this. because you'll get this. you can even set boundaries for so if she should be here, but instead goes here, here, or here. you'll know. so don't worry, mom. because you put this, in here. hum by verizon. the tec

and in britain the message is, hold on. we've got to figure out a political leadership and we won't be ready to make those moves to get out of the european union until later in the year. what secretary kerry says he wants to do here really, this is so important for the united states and the world, n that is stabilize international financial markets. this is what he said. >> the most important thing is that all of us, as leaders, work together to provide as much continuity, as much stability, as much certainty as possible in order for the marketplace to understand that there are ways to minimize disruption. there are ways to smartly move ahead in order to protect the values and interests that we share in common. >> this is certainly going to test secretary kerry's diplomatic skills. britain, he says, still has a special relationship with the united states but it just won't have a voice at the european union negotiating table which has been such a value to the united states in the past to try to get its word and feeling felt.

europe's leaders want britain to start separation proceedings soon, while britain seems to be in no hurry. "there must be no delay," said german chancellor angela merkel. the longer the delay in negotiation, merkel argued, other countries might leave. already there is talk of referendums in half a dozen countries. among them is hungary, which recently built a razor-wire fence to keep migrants out. building walls seems to sum up today's mood, the departure from the europe build on the free movement of people and goods. >> we cannot talk anymore. we should act. >> reporter: carlo sibilia is from italy's new protest party, the five stars movement. he said britain's exit is a chance to reform the e.u. >> i think this brexit means we know exactly what is going on next, so we can actually manage it a little bit more what is going on in europe. >> reporter: secretary of state john kerry started his day here in rome and traveled on the brussels and london to urge e.u. leaders to make wise choices not aimed at revenge. charlie, italy's prime minister says it's time to start a new chapter for europ

or in britain but it's going to be in europe. in fact, the ftse that's the british stock index is only back down to a 2 or 3-week low. the dow is back down to what it was in march. the fundamentals here at home remain strong even within the banking it's europe that people want to avoid in terms of buying dip in stocks. maria: what's the most important metrics that you're going to be looking at to indicate -- to give you an indication of how deeply the market falls? >> one of the biggest things i'm going to look at is market psychology. start looking at sentiments indicators, see how people get and number two, the best one of all is the vicks, it would get -- dagen: we don't have a current quote on it. it's like 16th hundred in where the vicss has traded. almost 90 during the peak of the financial crisis. 50 after the collapse of long-term capital management and after the attacks of 9/11, we are not right there in terms of panic at least in that one gauge. maria: jonathan, final comment from you in terms of allocating capital righ

britain will stay in nato but we don't want it to fracture britain or britain without scotland in the future. laura: is it time for america to look for a new ally that will be in the european union? >> it's true germany has been rising in power inside the european -- europe for a long time. if britain leaves the e.u., if that actually ends up happening, then we'll have to have a partner. it won't be the quality of our relationship with london but a partner with which we can work more seriously and i think that has to be germany. i was in berlin during the brexit vote. the germans are very reluctant to put themselves forward. they've never seen themselves as a global power, a military power the way britain still does. laura: the fact that germany isn't the military power. what would be lost if the u.s. transferred its diplomatic weight to germany as the e.u. power base? >> well, i think there's much to be gained from a stronger strategic partnership between berlin and washington. one of the interesting things to look for will be whether or not angela merkel, if she's able to return to

britain? >> i system the second will happen. you will see at the emptumpt levels, who think they should punish the uk, try to avoid what other countries consider leaving as well. given the stakes, if you were into the continent. you would drive up the cost of investments on the continent. if britain would impose tariffs on britain cars, you would see a massives development, and try to keep trade as open as possible. >> reporter: what about the political aspect? all we have heard from leaders is that all they are concerned about a run on the bank. you can see what is happening to the sterling right now. i don't think this is related to the health of the banking system. the fall-out will be enorm ousz. what has happened, the british people have not expected so much desire against the idea of trade. those ultimate responsible for all of this is found is brussels, diverted a program that it was removing trade barriers, to something that was more political. mingling into budget decisions, and organ

cbs news financial contributor mellody hobson is in britain t will britain's exit, early to tell, be a long term problem? >> this is aster that is going >> this is a story that is going not weeks. not months. and the one thing we know about the stock market if we know anything, is that it hates uncertainty. so i would expect additional volatility in the months and weeks and years ahead. but i would also caution people not to do anything rash. do not make any quick moves as it relates to your investments or retirement plans. this is the time when you want to sit tight. >> what about the united states job market? >> i would not expect a direct impact on the united states job market except for those multinational companies that have huge imports into the uk. companies look ford, and xerox, ebay, may be in for a tougher time because their imports, suddenly became a lot more expensive in great britain because of what happened to its currency. mellody hobson, thank you. as if to underscore the difficulty britain faces. to date pound fell to a three decade low at over $1.30. standard & poor

nethas been that plus -- plus for britain. today in theece wall street journal points out that it could affect the rate increase. now, the brexit vote might delay it again. what other ripples might we see in the united states. be a: that might transitory effect. certainly right now you see a move to caution. the fed will not be raising rates anytime soon. you see money shifting from the stock market. it is a mixed blessing for the economy. , that is nottiree so good. i think the primary effects will be on britain. one thing we have not touch but is the generational differences, a young people, those under 35 who want to stay in the union. they will have to live with this decision for 50-60 years. talk about long-term economic consequences. , they will have to live with the consequences, but not nearly as long. , by it is their country need to tell it like i see it. i could the decision to leave the european union will have some unintended and unforeseen consequences for the british people that on net will probably not be posit

there are more jobs in europe dependent on trade with britain than there are in britain. it's simply a lot of doom mongering and scare mongering. >> i feel like we're dragged back into the arguments of the campaign. i disagree. we don't know but the initial feedback from the market is not entirely positive. the thing strong from the europeans particularly the french and the german finance minister said they see no real merit in giving britain a good deal because they don't want the same thing to happen with other nations and i think, as a result -- >> rose: use them as a bad example for leaving. >> i think christine lagarde, that is a bit of an exaggeration. but britain going into recession, the pound sinking lower, it has to be-- it's can go down to 120. you can see banks and people already saying we employ a thousand european nationals in the london office or 2,000, will they have visas and will they put investment into london. >> any country running a current account deficit depends on the kindness of strangers to lend them money. britain is running one of the largest

look at britain's relative success. they have a growth rate that is better than the rest of europe with relatively low unemployment , and immigration is part of that story. they should not be blaming immigrants for economic problems and we should not be blaming immigrants for economic problems. the problems are elsewhere. host: daniel griswold, thank you for joining us this morning. tune in tomorrow on tomorrow's "washington journal" when we "the wallalley of street journal. we will also have regina thompson talking about whether delegates should be bound to hill onrump and stephen uber. we will see tomorrow at 7:00. have a good saturday. ♪ [captions copyright national cable satellite corp. 2015] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org]

britain will continue to be a great european power. john h.: in the immediate wake of the uk's vote to leave the eu stocks in london and europe , plunged. joining us now for a brexclusive interview for the financial markets is vonnie. how bad was it? vonnie: it was worse because of how good it was yesterday. people remained with high hopes, and suddenly at about the seventh hour, it was an oh, dear. by 11:00, one of the major areas started reporting, and onto the major big cities, it became -- yeah the pound literally dropped , 18 big figures. it was held overnight. it felt for 30 hours straight. john h.: this was what, the worst they in european markets since 2008? yeah, i mean -- vonnie: yeah, i mean for the pound, it was the worst since 2008. that said, the swing was a $1.46 but we round that not long ago, so it is not like this is an event of the ages. it could be worse next week, volatile indexes up to 75. you saw stock indexes on mainland europe dropped 8%, 6% for germany. not as much of the ftse 100, but banks are really the bar

britain is not in the euro. and 65% of the countries that are in the euro will focus on the euro surviving. it relies on the independence and support of all the nations in the eu. britain is not in the eu. so i question that we can say that britain is at the center of the euro. i would argue it lost its position at center in 1999 when it voted to hold on to the pound. if you go to europe, and i know you have just been to europe, if you go there and talk to your peers, they are inclined to scoff at british demands, we want this and we want that. they say, if you are really with us, be with us. be in the euro with us. and, of course, britain doesn't want to be. so the risk is now that the decision is being made, will be made in the isolation of the uk. you have to remember france has a veto in agriculture. britain should have a veto on financial services but it has not gotten it. so britain will be managed as if it is one of 28 countries when it comes to this. let me give you an example, in the next financial cris

he says it britain must not turn its back on europe or the rest of the world. also, across the channel, german chancellor angela merkel says there can be no informal talks about brexit on to london makes the first move. the french president says there is no time to waste. in soccer, at the euro 2016, italy and spain go down to the wire. both hoping to advance to the quarterfinals and the right to play world champions germany. ♪ brent: it is good to have you with us. on both sides of the english channel tonight, lines are being drawn in what promises to be anything but a simple british divorce from europe. let's start in the u.k. outgoing prime minister david cameron has ordered a working group to begin the compress -- complex process of making an orderly exit from the european union. the work will now start but the next government, the next prime minister -- they will have to finish the jump. reporter: it was an upbeat baby camel who spoke to the british parliament for the first time since he announced his resignation last week. he told lawmakers his cabinet

until britain's e.u. referendum and more business leaders have been pledging support for the remain camp, including richard branson head of the english football premier league. and a mentally disturbed who acted alone, more orlandoemerging with shooter omar mateen as the f.b.i. releases a transcript of 9-1-1 call he made. let's get business news. as we have been reporting, three britain's e.u.l referendum. we've had more warnings today, we, from across the business community? reporter: the possibility of question calling into a host of issues for the country, including britain's ability in hiring foreign workers with just days left before britain's vote to remain the european union, confusion remains on the aftermath for brexit. u.k.'s most prominent businessmen, richard branson, is countrymen who vote remain. reporter: raising the specter of war, british entrepreneur richard branson took a strong stance in favor of his country to remain in the e.u. think as far as great britain is concerned, it would be

britain's exit from the eu. but here's what we do know at this point. >> prime minister david cameron says his successor will need to trigger what is known as article 50. >> that gives the 27 other eu countries two years to come up with an exit deal. the u ck will not take part in those talks. >> if there is no agreement after two years, countries can vote to go into overtime. and if no unanimous decision, no deal at all. >> how difficult things are. and therein lies the issue. there is no clarity. right now the uk's biggest challenge may be finding a way to come back together. but that may not be so easy with nearly half of the voters on thursday casting ballots to remain in the eu. >> now a look at the journey that led to the brexit and how the uk might heal its internal divide. >> reporter: so after 43 long years, the restlessness has found a voice. a seismic decision, but a vote that could hardly have been more divisive. the "remain" campaign took scott land, northern eye ire land and london. but the rest of

he believed britain was better in. now that they voted to leave, there are negotiations, and he felt he was not in a position having campaigned so strongly on behalf of europe, that he could not longer lead the country forward in the direction it had chosen to vote which was a different direction. this morning he made that decision and resigned. >> he's gone as of october. benjamin, thank you. >>> some of the folks who wanted to remain with the krun european union were harsh. they called them racist, stupid, and some other words we can't use on television. nile gardener is the director of the heritage foundation's margaret thatcher center for freedom. he was a supporter of the effort to leave the eu. nile, good to see you. we've seen this today. if you were in favor of leaving the eu, you're stupid, and charles cook had an interesting piece talking about how his friends said are you sure you're in favor of leaving? all the smart people are in favor of staying. we're seeing that same thing here in our country. why did y

they are not coming into britain. we are going to do all the things that, for instance, donald trump says he's going to do in the united states. at the same time, we are going to be independent and able to deal with the globalize zed world and be fast movers and great businessmen. it's all crap. that's not what's going to happen. what's going to happen as the ft pointed out is people are not going to be able to move around. young people in britain are not going to be able to do that. people who are working in britain are going to have to leave or re-negotiate their status. it's going to be a disaster. >> for the grace of god, this is happening. your vote does count. thank you both so much. >>> coming um, could it happen here? britain's vote to leave europe is the same anti-elite, anti-immigrant forces powering donald trump's campaign. i'm going to ask james what hillary clinton needs to do for an emerging global trend. >>> plus, financial markets have plunged in the brexit vote. thing could get much worse before they

britain's decision to leave the european union has corporate executives concerned. those in the auto industry are no exception. ai uchida joins us now from our business desk. what exactly are these auto companies worried about? >> a lot of it has to do with their factories and their operations, catherine. foreign automakers including car companies from japan and the united states, they have factories in britain which serve as bases for exporting their vehicles to other european countries while the auto executives have expressed their concerns at a meeting in london, held by britain's auto industry association. about 300 people showed up. political and economic experts pointed to possible fallout from a brexit. they said if tariff free trade is not maintained between britain and the eu, it would have a major impact on the auto industry. many said they're worried about the fate of their operations. >> really disappointed. i can't believe we've done this. it's going to make working across europe so difficult. >> others said they're worried because their sales mainly co

i think that the historic role that britain has played, to be a stabilizing force has been by britain being an arsonist on the system. i think the basic short answer to your question is in other countries, the dutch has been making noises. we have got the spanish elections. italy has a big constitutional issue. wasink probably not but i someone that thought probably not brexit as well. things that were impossible are now possible. is the chances of the european union coming apart. are anidea that we arsonist on the world stage because we have had breakfast is completely ludicrous. we are going to stay in the g-8. we're going to stay in the united nations. the reason we have security on ,he european continent for nato we are also going to stay in. the only thing we are not going in this old, protectionist, unpleasant thing that 17.4 million people have voted to get out of. we are not arsonist in the slightest. point about scotland and northern ireland and wales, they voted in the majority for brexit. a lot of scots voted remain because they do not want another referendum. they thought

dana, you're up. >> we've been talking about britain on the show. i saw this story and i had to bring it to you. did you know that there's something called foreign accent syndrome it can happen to you. it happened to lisa alameya, a native texan. she went in for jaw surgery and came out and sounded like this. >> it's been a bit chaotic. people who don't know me, hey, where are you from? >> i'm from here, rosenberg. >> you're from here? >> one thing i always said was just kitten and i can't say kid-ing any more unless i slow it down. >> greg, this is true. it's called foreign accent syndrome. >> you have to have access in your brain for that accent. >> doctors, please tweet and prove him wrong. >> if you like kissing, this little french bulldog and this fish, believe it or not, cannot stop kissing each other. look at how cute this is. karen brady bought a new fish for her pond. she had no idea that the fish comes up to kiss the bulldog. the 7-year-old bulldog named daisy. she has 11 fish. none of them want to get the smooch on like this one. >> this

as much as the united states has a special relationship with britain, britain is in a political mess right now. there is no real leadership. david cameron has stepped down. there is no really strong political figure to lead the country as the european union wants it to. the opposition, the labor party, is in free fall and breaking down. you have scotland saying it may go for a second independence referendum to leave britain and stay part of the european union. there is so much going on, so many moving pieces. this is the environment secretary kerry comes back into. vi vict victor? >> and it's all happening so much. thanks so much. >>> after a massive selloff friday, u.s. and global markets are looking to steady things outs. here's the question. will it be another ugly day for investors? cnn chief business correspondent christine romans joins us with the latest on that. >> good morning. well, it certainly was an ugly day on friday. no question. so does it stabilize today? this is what i can tell you is happening right now. you have u.s. futures still down a little bit here. not a big

britain's withdrawal is good for britain, good for the united states and good tore western security since eu efforts basically to replace nato or supplant it i think are going to be put on dead stop. despite the market turmoil we have seen since the vote last thursday. i think what's really in trouble is not bring tape, but the european union. >> there has been the argument the eu can't function like it wants to with the beshe moth dragging it down. but now you have countries like sweden and the netherlands, and they are all eyeballing the front door. they want to leave as well. i don't think that's disastrous if you are talking about more countries participating in ultimately free trade. >> that's why it's important to understand that financial leaders, media people academics who talk about the end of the european union are mistaking two different things. this is not the end of europe. it does not mean the end of free trade relationships. it does not mean the easy flow of goods and services and trade-in investment between the countries of europe. it means potentially the elimination of t

there is no plan if britain would leave the eu. nobody knows what kind of deal britainould get with the eu and also wh the rest of the world, and many experts who have been quoted extensively by the remain side have agreed that there would be a recession and the economy would be hard hit, so this is really the strongest argument that the remain site has had and lots of applause when the london mayor said, what is your plan, boris. immigration is the big topic, and this is where a lot of this definition voters and members of the audience are with the brexit side, the so-called uncontrolled immigration that has been mentioned again that is coming from the eu. this is something that makes people applaud when they listen to this. >> we can see right there of the debate going on, lots of applause tonight for both sides. let me ask you about the british prime minister. he made a passionate plea today because we got new numbers out showing that the leave camp has a narrow lead and it's getting more narrow by the hour. what is behind that?