No talks until UK makes intent formal
The leaders of Germany, France, and Italy say there can be no negotiations with Britain on the country's departure from the European Union until London has formally declared its intention to quit.
German Chancellor Angela Merkel says "we agree there will be no formal or informal talks" with Britain until Article 50 has been invoked.
Merkel spoke yesterday in Berlin after meeting with French President FranÁois Hollande and Italian Premier Matteo Renzi.
British Prime Minister David Cameron says the UK will not trigger formal EU exit talks at this stage.
He says the referendum result is "not the outcome I think is best for Britain", but says the result must be respected and implemented in the "best possible way".
The Conservative Party leader says there will be no immediate changes for EU citizens now living in the UK.
He says an EU exit will be "far from plain sailing" for Britain's economy, but adds that UK financial institutions have "robust" plans and can withstand the uncertainty of a Brexit - a British exit from the bloc.
An influential Conservative Party committee says a new leader should be in place by September 2 at the latest - with nominations opening on Wednesday and closing on Thursday.
The 1922 committee, which sets party policy, ruled after an emergency meeting on Monday that the contest should be run under the same rules as 2005. That means lawmakers will choose and then put two candidates to the wider membership.
Such a process favours established candidates.
Former London Mayor Boris Johnson, the primary backer of the 'leave' campaign and Home Secretary Theresa May, who backed 'remain', are considered the front runners in the race to replace Prime Minister David Cameron.