A boat decorated with flags and banners from the 'Fishing for Leave' group that are campaigning for a 'leave' vote in the EU referendum sails by the British Houses of Parliament as part of a "Brexit flotilla' on the river Thames in London on June 15, 2016.
Photograph by Niklas Halle'n — AFP via Getty Images
By Stephen Gandel
June 23, 2016

On Friday, June 24, at 12:00 a.m. ET (5 a.m. GMT) is the time when we will know whether British voters in London and around the U.K. have voted to leave the European Union, a political-economic union that is made up of 28 countries located in Europe, which many have called Brexit.

Or maybe not.

We might actually know sooner. Voting on Brexit started at 2 a.m. ET (7 a.m. GMT) on Thursday and polls close at 5 p.m. ET (10 p.m. GMT) on Thursday evening. But there are no exit polls being done by any of the major British broadcasters for fear of accuracy. So unlike with U.S. elections there won’t any projections shortly after the polls are closed.

The first news of how the vote went will come out at 6:30 p.m. ET (11:30 p.m. GMT). That when the first of the 382 voting wards in the U.K. will begin to report the results from their districts. By 11 p.m. ET (4 a.m. GMT) half the wards should have reported their results. But it won’t be until 12:00 a.m. that 80% of the districts have reported their results, and it is likely that anyone will be able to declare that either the “leave” camp had won, or the “remain” camp, which goes by Bremain was victorious.

But even if the vote passes, the actual Brexit won’t happen for another two years, which would be the deadline on negotiations for a new trade deal between the U.K. and the EU.

The outcome will matter a lot to the future political career of David Cameron, who is the prime minister of the U.K., and the leader of Conservative Party.

Clear here, for Fortune’s coverage of what happens in the Brexit vote.




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