The UK has voted to leave the European Union, shocking the world and revealing a divided country. Britain voted to break away from the European Union on Friday, toppling Prime Minister David Cameron and dealing a thunderous blow to the 60-year-old bloc that sent world markets plunging.

Mr. Cameron announced he would step down to make way for a new leader by early October after voters opted to exit the 28-nation alliance in defiance of his predictions of economic disaster and isolation.

The British people have voted to leave the European Union and their will must be respected,” Mr. Cameron said, as the shockwave of their decision sent sterling, global stocks and oil prices plummeting.

The Conservative Prime Minister promised to try to “steady the ship” over the next few months but said a new leader should be installed by early October.

“I do not think it would be right for me to try to be the captain that steers our country to its next destination,” he said outside his official Downing Street residence in London.

The bookmakers’ favourite to replace him is former London mayor Boris Johnson, a rival from within his ruling Conservative Party who was the ‘Leave’ camp figurehead.

The European Union’s 27 remaining members will meet to assess its future next week without Britain, the president of the European council, Donald Tusk, has said, as the bloc struggles to absorb the seismic implications of the UK’s decision to leave.

Tusk said he had spoken to EU leaders in the past few days and the union had been prepared for the result and was determined to keep its unity.

“There is no hiding the fact that we wanted a different outcome of yesterday’s referendum,” he said in Brussels on Friday. Martin Schulz, the president of the European parliament, said he would speak to the German chancellor, Angela Merkel, “on how to avoid a chain reaction” of other EU states following Britain. Merkel was meeting cabinet ministers and parliamentary leaders to discuss the consequences of the UK vote this morning.

The Belgian prime minister, Charles Michel, called for a special “conclave” of EU leaders as early as next month. “We need to keep a cool head and need to see what new way of cooperation would be possible,” he said.

The Polish foreign minister, Witold Waszczykowski, said in a statement the result showed “disillusionment with European integration, and declining trust in the EU”.

He sought to reassure at least 850,000 Poles living in Britain that “during talks we will aim to guarantee the rights citizens have acquired”.

Italy’s prime minister, Matteo Renzi, tweeted: “We must change it to make it more human and more just. But Europe is our home, it’s our future.”

Brexit and Indian?

Brexit could cause instability in the markets in the short term and that would adversely affect India. 800 Indian businesses with more than 110,000 employees are likely to take a hit in the short term. The Federation of Indian Chambers of Commerce and Industry (FICCI) has warned about considerable uncertainty for Indian businesses operating in the UK and Europe if Brexit were to ensue