Britain has voted to leave the European Union, a historic decision sure to reshape the nation’s place in the world, rattle the Continent and rock political establishments throughout the West.

With 309 of 382 of the country’s cities and towns reporting early on Friday, the Leave campaign held a 52 percent to 48 percent lead. The BBC called the race for the Leave campaign shortly before 4:45 a.m., with 13.1 million votes having been counted in favor of leaving and 12.2 million in favor of remaining.

The value of the British pound plummeted as financial markets absorbed the news.

This is historic. Only time will tell whether the net effects will be good or bad — for Britain and for the European Union. (I haven’t followed the intricate details of the pros and cons, but I understand that the full effects and implications are hard to predict if only because the interactions and agreements between countries are so intertwined.)

P.S.— The following are required viewing:

• Difference between the United Kingdom, Great Britain and England
• European Union explained

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