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British pounds and Euro banknotes from a bank at the in Munich, Germany, June 24, 2016 after Britain voted to leave the European Union. (Reuters)
British pounds and Euro banknotes from a bank at the in Munich, Germany, June 24, 2016 after Britain voted to leave the European Union. (Reuters)

LIVE BLOG: Britain 'Brexits,' Sparking New World Order

update

Look for live updates here as world reacts to Britain's resounding vote in favor of exiting the European Union.

The Divorce

How does a country actually LEAVE the European Union? It's never been done before

-Article 50 of the Lisbon Treaty sets a two-year time limit for reaching a deal. Britain's exit marks the first time it will ever be used.

An EU flag hangs beside the Union flag in London, Feb. 17, 2016. (AP)
An EU flag hangs beside the Union flag in London, Feb. 17, 2016. (AP)

-Once invoked, the UK will no longer be allowed to participate in any European Union policy meetings or decisions.

"For the purposes of paragraphs 2 and 3, the member of the European Council or of the Council representing the withdrawing Member State shall not participate in the discussions of the European Council or Council or in decisions concerning it."

-Britain and the EU will also have to divide assets (like any married couple). Outstanding budget issues will have to be sorted out, along with the future rights of Britons in EU member countries and vice versa.

Immigration played a big role in support for Brexit, experts say. Looks like immigrants are taking notice of the message, according to AFP:

Former British Prime Minister says Brexit won't solve immigration concerns in UK:

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