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The UK is coming to terms with tearing up its European Union membership after voters backed a Brexit at the ballot box on Thursday. The result sparked a series of momentous events starting with the pound plummeting against the dollar and David Cameron announcing he would resign as prime minister.

Elsewhere:

Ramifications of historic Leave vote are dire for UK's political classIBTimes UK
18:59

That's it from us. The IBTimesUK live blog is retiring, bowing out graciously after 48 hours or so of furious, high-tempo Brexit reporting. Keep checking the site for news and views throughout the evening. Goodnight all.

18:52

Britain's trade unions have rallied around Jeremy Corbyn as momentum builds behind a no confidence vote in the Labour leader.

18:26

Jeremy Corbyn has urged Dame Margaret Hodge to withdraw her no confidence motion in him during an interview on Channel 4 News.

"Is it really a good idea to start a big debate in the Labour party when I was elected less than a year ago with a very large mandate," he said.

18:06

IBTimesUK video team have put together an excellent primer on David Cameron's career as he stands down as Britain's prime minister.

David Cameron: A political careerIBTimes UK

18:05

It seems that some pro-Brexit voters are regretting their decision to vote Leave. Mandy Suthi said both her and her family voted Leave but 'now the facts were coming in' their 'eyes had been opened'.

Brexit: Leave voter admits she would 'vote differently' after EU referendum falloutIBTimes UK
https://d.ibtimes.co.uk/en/full/1527442/img.png
Brexit: Leave voter admits she would 'vote differently' after EU referendum falloutIBTimes UK
https://d.ibtimes.co.uk/en/full/1527442/img.png
Brexit: Leave voter admits she would 'vote differently' after EU referendum falloutIBTimes UK

The mind boggles...

18:01

European far-right parties have praised the UK's decision to abandon the EU, hoping their countries will follow suit and have their own referendum. Marie le Pen, leader of the National Front in France, has hailed the UK's Brexit as a "Victory for Freedom!"

Le Pen, whose anti-immigrant party is considered the third force in French politics after receiving 29% of the nationwide vote during last year's regional elections, added: "That which no-one dared to dream about a few months back is now a reality which is clear to everyone: yes, it's possible to leave the EU."

Ewan Palmer reports.

18:00

As a petition for a second referendum on Brexit gathers steam (with 150,000 signatures at last count) Team Corbyn has put out its own vote of confidence in the Labour leader as pressure mounts for him to follow David Cameron in resigning.

17:40

Our reporter Elsa Buchanan has been looking at how the Brexit vote has gone down over the water in France.

17:35

Sarah Palin has waded into the Brexit debate to congratulate Britain on voting to Leave the EU and, in her words, hit back against the "apocalyptic One World Government". Make of that what you will.

Meanwhile a Donald Trump speech in Scotland has been interrupted by a man handing out 'Nazi golf balls' so...

17:19

Odds of a UK recession, 0% interest rates and wider global economic malaise have risen considerably following a decision to exit the European Union by British voters, according to economists.

Jason Schenker, president of Prestige Economics, told IBTimes UK that the impact on the UK economy is likely to be significant, and the domino effect on eurozone and global economies is likely to be negative as well.

Gaurav Sharma reports.

17:18

For some in Britain's Arab community, the United Kingdom's historic decision to leave the European Union translates into a rise of far right sentiment, something with which the Leave campaign increasingly became associated.

The issue of migration has rocked other parts of Europe, more so since thousands of refugees and migrants, some of them fleeing conflicts in Syria, Iraq and Afghanistan, began making their way to Europe last summer.

Carmen Cracknell reports.

17:04

Greek media reports that the neo-fascist Golden Dawn party has welcomed Britain's vote to Leave the EU.

"Golden Dawn welcomes the brave decision of the British people to deny the 'crows' of Brussels and the financial oligarchy of Germany," the party's press spokesman Ilias Kasidiaris said.

The move has also been welcomed by France's Front National leader Marine Le Pen.

16:57

This poignant letter to the Financial Times has been widely shared by Remain voters in the last few hours.

16:53

Away from Britain, all eyes will be on Spain on Sunday where leftist coalition Unidos Podemos could be poised to make huge gains in the country's latest general election.

Unidos Podemos - which translates 'Together We Can' - has already challenged Spain's entrenched two party system by gradually rising from a grassroots movement to a major political force.

A poll last week had Podemos winning 25.6% of the vote, fractionally less than the conservative PP party and marginally above the socialist PSOE, on 20.2%.

16:21
Brexit Angela Merkel
German Chancellor Angela Merkel speaks to the media following the United Kingdom's referendum vote to leave the European Union in BerlinCarsten Koall/ Getty Images

The German government is reportedly pushing for the EU to sign an association agreement with Britain. The deal would outline trading rules and other regulations including possible tariffs on certain goods or services.

According to German financial paper Handelsblatt, Germany is keen to make a deal with an independent Britain but does not want to make too many concessions for fear it may spark similar In/Out referendums across the continent.

Elsewhere, the paper claimed the Brexit could cost Germany €3bn (£2.4bn, $3.3bn), to cover Britain's contribution to the European budget, which would have have to be funded by other EU countries.

15:07
US stock market
Traders work on the floor of the New York Stock ExchangeGetty Images

Worries on Wall Street

The Dow Jones Industrial Average dropped 500 points in early morning trading as the Brexit continues to cause havoc in financial markets.

The S&P 500 shed 2.6% in New York - the most in four months - and the Nasdaq Composite Index lost 3%.

14:43
Tech City workers
Matt Smith, director of StartUp Britain, said the start-up community would benefit from the BrexitGetty

Brexit boon for start-ups

FTSE 100 companies may have been cut down to size today but the start-up community could benefit following the Brexit.

Matt Smith, director of StartUp Britain and of the Centre for Entrepreneurs think-tank, said entrepreneurs should not fear leaving the EU.

"Britain is a great entrepreneurial nation that has always been prepared to take risks for its long term future. There is no better country in which to start a business, and that's as true today as it was yesterday - and it will be even more true tomorrow.

"The world's entrepreneurs have always been welcome in the UK and our expectation is that, far from diminishing that welcome, this result will prove to
be a fantastic boon for it."

14:00

Irish Taoisearch Enda Kelly said he was sorry about the result of the referendum but added he respected the decision of the British public.

He added reassurances to the Irish public that they had prepared for Brexit and there would be no change in the flow of people or goods between the two islands.

"We have engaged in detailed contingency planning for this result," he said.

13:55

Morgan Stanley has reportedly begun the process of moving 2,000 investment banking staff out of London to either Dublin or Frankfurt, BBC reports.

13:49
Brexit Angela Merkel
German Chancellor Angela Merkel gives a statement in Berlin, after Britain voted to leave the European UnionHannibal Hanschke/ Reuters

German Chancellor Angela Merkel has warned against a knee-jerk reaction to Britain's decision to leave the EU after 43 years. In a televised address, Merkel instead appealed for a "calm and measured" approach from the EU, but admitted that she "deeply regrets" the decision of British voters, IBTimes UK's Romil Patel reports.

13:35

MP Margaret Hodge explains why the motion of no confidence in Jeremy Corbyn has been submitted.

13:10
Bernie Sanders
Democratic presidential candidate Sen. Bernie Sanders (I-VT), speaks during a campaign rally at Robert F. Kennedy Memorial Stadium in Washington, DCMark Wilson/ Getty Images

US politician Bernie Sanders has spoken out after Brexit.

In an interview with MSNBC, he said: "What worries me very much is the breaking down of international cooperation.

"Europe in the 20th century as we all know, the kind of blood that was shed there is unimaginable and you never want to see that again.

"On the other hand i think what this vote is about is an indication that the global economy is not working for everybody."