I was too young to vote in 1975, have no illusions what the EU is and isn't and have therefore waited for this day in history for along time. When I saw the collective wisdom of the UK people's votes pass 16.8m it brought a tear to my eye.
I kept my voting card which I shall frame to mark this historic event.
The markets have overreacted which is what they like as it is profit territory for them, especially the banks. Watch it move back to as before as that is where they make their money.
Scotland can't have another vote without UK Parliament legislation which IMO is unlikely. Will hard hit Scottish fishermen want to escape CFP to be under it again? Would HBOS and RBS be prepared to stay in Scotland with the Euro and hostile EU when the majority of their business is in UK, especially City of London? What would Scotland use as an interim currency until they eventually joined the EU and Euro?
Now the hard work begins on negotiating the Brexit. I expect the EU over the next 10 years to shrink as more countries leave with probably The Netherlands next, but where the change from the EEC to the EU and Euro has been an absolute disaster for much of the Continent I wouldn't rule out a total collapse. In the 1930's we were one of the first to leave the Gold Standard, so our recession was mild, the French were one of the last to leave with a major economic depression, with their predecessor to the Euro the Latin Monetary Unit also collapsing.