With a 30 million voter turnout and 51.9% voting “Leave,” the UK has decided to separate itself and its economy from the European Union.

Up until June 23, the United Kingdom was part of the trade alliance created in 1950 in response to World War Two. The European Union is composed of 28 countries, which under the agreement, operate as states. This gives the countries and its citizens, according to BBC, the freedom to move and work among the countries without needing a visa or passport.

A publication office of the EU published The European Union Explained – How the European Union Works in 2013, which establishes the EU’s purpose: “The unique feature of the EU is that, although these are all sovereign, independent countries, they have pooled some of their ‘sovereignty’ in order to gain strength and the benefits of size.”  

However, some citizens of the UK believed their countries were losing power. Because of this, anti-EU campaigners began to push for “Brexit,” a combination of “Britain” and “Exit.” As reported by Express, the ideology of Brexit became mainstream in 2015, eventually calling for a nationwide vote of whether to stay with or leave the Union.

British Prime Minister David Cameron made a plea to his generation and older citizens to vote to stay in the EU.

According to the Washington Post, voting was completed after 15 hours.

The UK is made up of England, Scotland, Wales and Northern Ireland. England and Wales were both in favor of leaving, while Scotland and Northern Ireland voted to stay as part of the EU.

However, the votes of the Scottish and Irish citizens were not enough.

The overall vote was close, 51.9% to 48.1%, as stated by the BBC. This means the UK and its countries will operate under an independent economy, as it did in the first half of the 20th century.

The outcome will not be immediate, as it will take time to separate the UK from the EU. In the meantime, the representatives will be present for decision making, but not able to contribute on behalf of the UK nations.

As stated by the BBC, Prime Minister David Cameron plans to step down by October to make room for “fresh leadership.”

According to CNBC, global stocks have started to decrease, but Chief Economic Advisor Mohamed El-Erian of Allianz, a financial services company, is optimistic, saying to be cautious right now, but opportunities are coming for those who have the cash to buy in.