Voters decide in Britain’s historic EU referendum

Voters in Britain are deciding Thursday whether the country should remain in the European Union — a historic referendum that has exposed deep divisions over issues of sovereignty and national identity.

More than 46 million people are registered to vote in the referendum, which asks: "Should the United Kingdom remain a member of the European Union or leave the European Union?" The heated campaign saw the nation take stock of its place in the modern world, even as it questioned the direction it wanted to take in the future.

"This is, I'd say, the most important day in the past 20 years, at least for the U.K., and the economic consequences of a vote out are huge," said investment banker Hasan Naqvi outside a London polling station.

"Leave" campaigners claim that only a British exit can restore power to Parliament and control immigration. The "remain" campaign led by Prime Minister David Cameron argues that Britain is safer and richer inside the 28-nation EU.

Financial markets have been volatile ahead of the vote, with opinion polls suggesting a tight race. The pound has surged over the week amid market optimism that uncertainty over the vote would end with a vote to stay. The pound briefly hit $1.48 in overnight trading, the highest level since the beginning of the year.

Turnout is considered critical in the vote, as polling suggested there were a number of undecided voters. A large turnout will favor the "remain" campaign as those who waver at the end tend to go for the status quo. Those favoring "leave" also tend to be more committed.

"It's all about turnout and those soft 'remainers' staying at home," U.K. Independence Party leader Nigel Farage said outside his home after collecting the newspapers.

"I do think we are in with a very strong chance, I do genuinely," he said.

It was raining heavily in some parts of the country, which could reduce turnout.

Downpours and flooding swamped parts of London and southeastern Britain. London's Fire Brigade received hundreds of calls of weather-related incidents early Thursday, including some reports of flooding and lightning strikes.

Weather forecasters quipped that voters in the southeast would need umbrellas and possibly rubber boots in order to cast ballots.

"I think it's very important to vote in such a big decision," said voter Belinda Byrne in Teddington, southwest London. "It's going to have a huge impact on the country."

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