David Cameron Resigns: Brexit Requires a New PM, He Says

David Cameron resigned as British prime minister on Friday in an emotional speech after Britain's surprising vote to leave the European Union.

Cameron addressed the country outside 10 Downing Street after it became clear that 52 percent of British voters decided on Thursday to leave the European Union, reported The Telegraph,

"I was absolutely clear (in the referendum) about my belief that Britain is stronger, safer, and better off inside the European Union," Cameron said in his resignation speech, per The Guardian. "And I made clear the referendum was about this and this alone, not the future of any single politician, including myself."

"But the British people have made a very clear decision to take a different path and as such I think the country requires fresh leadership to take it in this direction. I will do everything I can as prime minister to steady the ship over the coming weeks and months. But I do not think it would be right for me to try to be the captain that steers our country to its next destination." 

Former London mayor Boris Johnson was reported by The Guardian to be one of the leading candidates to replace Cameron, He didn't comment as he left his residence Friday. Johnson was a proponent for Britain to leave the European Union.

Defense secretary Michael Fallon told the BBC News he had hoped Cameron could have stayed longer but called his decision "honorable."

"Yes, you can argue you need someone part of the leave campaign to lead the negotiations. I think the PM would have been the best person (to negotiate), but it's his decision, it was the honorable decision, now we've got to get on and make this work."

Lord Peter Mandelson told the BBC News that Cameron made the Conservatives a "less nasty, more socially tolerant and liberal party."

"Cameron made his announcement with his usual grace, elegance and composure. He looks and sounds like a prime minister but I'm afraid that’s no longer enough. I'm afraid those who chose this referendum as their instrument of revenge against him have won the day."

The Wall Street Journal reported Friday that the British pound tumbled more than 11 percent on Thursday night and into Friday morning in wake of the vote. The pound fell to $1.3230 before rebounding to $1.36 by 7 a.m. Friday.

The Telegraph said the drop represented a 30-year low for the pound, allowing France's economy to overtake Britain.

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