British Prime Minister David Cameron announced this morning that he will resign as prime minister in the fall, saying the UK needs “fresh leadership.” His announcement follows U.K. voters’ historic decision by referendum to leave the European Union.

“I love this country and feel honored to have served it,” Cameron said, explaining that the “will of British people must be respected.”

He added, “The British people have spoken. … This was not a decision taken lightly. There can be no doubt about the result. I will reassure the markets that the British economy is strong. This will require strong leadership. I’ve been proud to be prime minister for six years.”

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