What happens now Britain has voted to leave Europe?

 WE'VE only gone and done it –  but what on earth happens next? 

By Alice Foster & Harry Kemble & Patrick Knox

RIVALS: Could David Cameron step down? Boris Johnson is the favourite for next Tory leader

The national declaration of the EU referendum resultcame through earlier this morning. 

Now the UK has backed Brexit, here is a look at the week of chaos, confusion and uncertainty that could follow. 

Brexit first week: Political backlash in Britain

Brexiteers will claim a history victory and Eurosceptics will hold raucous celebrations across the nation.

After a hard-fought and often bitter campaign, the Leave campaigners will feel vindicated by the decision of the British people.

As expected Ukip's Nigel Farage has already been pictured beaming widely. 

Top Tory Boris Johnson is expected to speak on the monumental result today – while David Cameron will undoubtedly be pictured looking stern and deeply unhappy. 

BREXIT: David Cameron is expected to give a speech outside Number 10 following the result

The first big question is will the Prime Minister stay or go? Mr Cameron insists that he will stay on, but many believe that he will be forced to resign in the event of Brexit.

Just 50 Tory MPs need to write a letter of no confidence to the chairman of the Conservative 1922 Committee in order to spark a leadership contest.

Eurosceptic Conservatives have been angered by Mr Cameron’s so-called Project Fear, while Remain supporters are frustrated that he called the referendum at all.

Britain would next need to tell the EU that it wants to go – this notification would spark the two-year process of Britain’s political divorce.

Mr Cameron, or whoever succeeds him, must lead negotiations over the terms of Britain’s exit and the creation of new trade deals.

A Brexit vote would also spark calls for another Scottish independence referendum because the Scots are broadly supportive of the EU.

Brexit first week: Economic shockwaves around world

A vote for Britain to leave the EU will send shockwaves through the global economy and markets are likely to suffer volatility.

American economist Larry Summers, who wanted Britain to stay in the EU, warns that a ‘Black Friday’ could follow referendum Thursday.

He predicted: “In the current context, Brexit would unsettle the global economy and possibly tip it into recession.”

The value of the pound is expected to fall sharply amid uncertainty over the future of the economy and British trade with the world.

Billionaire investor George Soros told the Guardian: “The value of the pound would decline ­precipitously. A vote to leave the EU would also have an immediate and dramatic impact on financial markets, investment, prices and jobs.”

But Eurosceptic campaigners have brushed off warnings about the dire economic consequences of Brexit and argue that Britain could prosper in the long-term.

Ukip leader Nigel Farage said: “Even if sterling were to fall a few percentage points after Brexit, so what? The point is we have a floating currency and it will be good for exports."

Brexit first week: Political aftershocks across Europe

The EU will be forced to defend the integrity of the European bloc in the event of Brexit. It may also be time for reassessment and soul searching.

European Council boss Donald Tusk says they must take a “long, hard look” at the future of the EU amid growing dissatisfaction across the Continent.

Before the UK voted to Leave, he said: “We would be foolish if we ignored such a warning signal as the UK referendum.”

Eurosceptic populist parties, such as the National Front in France, will hail Brexit as a great victory and will be spurred on in their own campaigns for independence.

There are worries that the EU could make Brexit negotiations more difficult in order to discourage other countries from also leaving the union.