The Brexit effect: UK PM David Cameron to step down by October

 
David Cameron said he would resign as the Prime Minister of the UK by October after Britons voted in a referendum to leave the European Union. The UK should aim to have a new PM in place by October, he added.

"I do not think it would be right for me to be the captain that steers our country to its next destination," he said outside his Downing Street office.

He voiced concerns about the future of ties with the Eurppean Union. “Now that the decision has been taken to leave, we need to find the best way,” he said, adding that the UK must prepare for full negotiations with the EU on matters of business, finance and travel ties.

(With inputs from Reuters)