They've taken a decision (by a very small majority a 1% swing would swing it the other way) on the back of a populist campaign which was based on a pack of lies. Not usual for politicians to lie through their hoops but the Brexiters are rowing back on them hours after winning. oh look, the 300 million a week figure was pie in the sky and oh look, it wont be going to the NHS now as promised it turns out that that was a 'mistake' (because it was not a real figure in the first place) that they have no plan on what to do now. they are now making noises like the vote was so close, lets see what "deal we can come up with with the EU" and that they might not be able to get migrations down to anything like the figures they suggested. The xenophobic false advertising by UKIP suggesting that non-EU migrants weren't already up to the government is more of it.
It turns out that the hundreds of economists and respected financial institutions who advised/warned against this decision were not lying to protect themselves, they were not scare mongering, they were trying to warn of the serious financial turmoil will result from this, should they go through with it. London's' financial district has basically stopped any investment in the UK and are looking at where in Europe to move to, that without their EU financial passports they wont be able to do deals for European companies = huge damage to their economy, outside the other general trade issues. Thousands and Thousands of well paying city jobs are set to leave London.
The tories are going to enter into a leadership battle and labour are imploding after their constituency voted to leave the institution whose social protection fund, finances all sorts of projects in their areas (which the Tories couldn't give a shit about).
Not to mention the fact that the UK could easily break up now, Scotland threatening to have another referendum, that the good Friday agreement will have to be renegotiated etc etc etc ...
The fact that the most googled thing in the UK since the election is "what is the EU" says it all. It's all well and good to have a protest vote against a government but they'll pay a heavy price for their 'independence', it is a shitestorm beyond comprehension - never should have been a referendum, this is huge and it is no place for protest votes or votes based on a pack of lies.
The EU is simply asking them now that they have voted to leave, to start the negotiation, hardly an unreasonable request as the longer the messing goes on - the worse it is for our economies. Merkel has toned downt he demand now anyways.
What a bloody mess - all Cameron's fault for calling the referendum in the first place.
Best case scenario is that they have to get this through the house of parliament, so hopefully they'll have a general election to get a mandate, and hold another referendum this time based on actual facts, like if you vote to leave this is what you will get. If you vote to stay this is what you will get.