Following the results of European Union referendum in which Britain decided to leave, David Cameron announced he will step down as Prime Minister.
He made the announcement in a statement outside Downing Street after the final result was announced.
Cameron said that he would attempt to steady the ship over the coming weeks and months but, fresh leadership was needed.
“I do not think it would be right for me to try to be the captain that steers the country to its next destination,” he added.
The Prime Minister had earlier urged the country to remain with EU, however, UK voted to leave by 52percent to 48 percent.
He added, “I fought this campaign in the only way I know how which is to say, directly and passionately, what I think and feel, head, heart and soul. I held nothing back, I was clear about my belief that Britain is stronger, safer and better off inside the EU.”
The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results.