THE Prime Minister David Cameron has announced he will resign after the country voted to leave the European Union.

The PM spoke outside 10 Downing Street and told the media the UK needed "fresh leadership" when negotiates Brexit from the EU.

He said: "I do not think it would be right for me to be the captain that steers our country to its next destination."

Mr Cameron spoke as two hundred billion were wiped off the stock exchange and the pound nosedived but said he will "steady the ship" before stepping down in October.

He added: "I love this country and I feel honoured to have served it and I will do everything I can in future to help this great country succeed."

Dudley, Sandwell, Redditch, Bromsgrove and Wyre Forest councils all voted to leave the EU in last night's referendum.

Read what happened across the Black Country and North Worcestershire in last night's EU referendum here.

Mr Cameron visited Newsquest Midlands' newsroom in July 2014 praised the work of its newspapers after touring the building and being interviewed by News reporter Adam Smith.