12:25 Jun. 24, 2016
Martin Schulz expects negotiations over Britain's departure to begin quickly
The European Parliament will hold an extraordinary plenary session on Tuesday (28 June) "to adopt a resolution assessing the outcome" of the UK referendum.
Commenting on the results of the historic vote, European Parliament President Martin Schulz said the parliament is "very sad", but the UK decision to leave is a "sovereign expression of the voters".
The heads of the political groups in the European Parliament gathered for an extraordinary meeting in Brussels on Friday to discuss bloc's further steps.
Schulz added that he expected British Prime Minister David Cameron to speak at a special session of the European Parliament on Tuesday, and that negotiations over Britain's departure would begin quickly:
"The United Kingdom has decided to go its own way. I think the economic data show this morning that it will be a very difficult way," Schulz said.
Global financial markets plunged as complete results showed a near 52-48 percent split for leaving, on fears that the decision will hit investment in the world's 5th largest economy, threaten London's role as a global financial capital and foment uncertainty in the world's biggest trading bloc.
Based on reporting by Reuters