Scotland spurned independence in a historic referendum that threatened to rip the United Kingdom apart, sow financial turmoil and diminish Britain’s remaining global clout.
A vote for the 307-year union is a relief for millions of Britons including Prime Minister David Cameron, whose job was on the line, as well as allies across the world who were horrified at the prospect of the United Kingdom’s separation.
Opponents of independence won 55 percent of the vote while separatists won 45 percent with all 3.6 million votes – a record 85 percent turnout – counted. But leaders from across the United Kingdom said the union must change if it is to endure.
Unionists cheered, kissed and drank wine and beer in Glasgow, Scotland’s biggest city where secessionists won, while nationalist leader Alex Salmond conceded defeat in Edinburgh, which supported the United Kingdom.
Cameron said the question of Scottish independence had been settled for a generation.
“There can be no disputes, no re-runs, we have heard the settled will of the Scottish people,” he said outside his official London residence in Downing Street.
Queen Elizabeth II, who is at her Scottish castle in Balmoral, is expected to make a rare comment on Friday.
The campaign for independence had electrified this country of 5.3 million but also divided the passions of friends and families from the remote Scottish islands of the Atlantic to the tough city estates of Glasgow.
Sterling strengthened sharply against the dollar and the euro on the result. British bonds and shares rose while major British companies with Scottish exposure welcomed the decision.
Royal Bank of Scotland said it had scrapped plans to move its registered office to England.
Speaking in front of an image of a giant white on blue Scottish flag, Salmond laced his admission of defeat with a warning to British politicians in London that they must respect their last minute promise of more powers for Scotland.
“Scotland has by a majority decided not, at this stage, to become an independent country. I accept that verdict of the people and I call on all of Scotland to follow suit in accepting the democratic verdict of the people of Scotland,” Salmond said.
“Scotland will expect these to be honored in rapid course,” said Scotland’s first minister before walking off the stage, his head bowed.