Breaking News: UK's EU Commission to Resign

Lord Hill

Lord Hill the UK European Commissioner said, "what is done cannot be undone" after the referendum result that voted Britain out of the EU, for that he is stepping down.

Lord Hill said it is not right for him to remain as the commissioner in charge of financial service after UK voted out of the EU

He is to stay for couple of weeks to be able to make sure of orderly handing over

The Commissioner has campaigned for UK to remain in the EU according to closed ally of David Cameron. 

Lord Hill's announcement comes Scotland's First Minister Nicola Sturgeon said she would be seeking "immediate discussions" with Brussels to "protect Scotland's place in the EU" after the UK voted to leave.

Ms Sturgeon has said a new Scottish independence referendum was "highly likely".

European Commissioners are among the most powerful officials in Brussels, with the ability to make laws across a range of policy areas, but the UK will cease to have one when it leaves the EU.

In a statement, Conservative peer Lord Hill said: "Like many people here and in the UK, I am obviously very disappointed about the result of the referendum.

"I wanted it to end differently and had hoped that Britain would want to play a role in arguing for an outward-looking, flexible, competitive, free trade Europe. But the British people took a different decision, and that is the way that democracy works."

He added: "I came to Brussels as someone who had campaigned against Britain joining the euro and who was sceptical about Europe. I will leave it certain that, despite its frustrations, our membership was good for our place in the world and good for our economy.

"But what is done cannot be undone and now we have to get on with making our new relationship with Europe work as well as possible."