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Political Carnage As U.K. Grapples With "Bre-Grets"

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LONDON (CBS NEWS) - Last week, the word was Brexit, but on Monday morning it seemed for many to be turning to "Bre-gret."

The reality of Britain being charged by its residents with extricating itself from the 28-nation European Union has sunk in.

The value of the British pound dropped again, despite reassurance from politicians and the man in charge of Britain's financial affairs.

Treasury chief George Osborne's job Monday morning was to be bland and reassuring; to urge his nation, and investors around the world, to keep calm and carry on.

"It will not be plain sailing in the days ahead but let me be clear, you should not underestimate our resolve," Osborne said. "We were prepared for the unexpected and we are equipped for whatever happens."

As CBS News correspondent Charlie D'Agata reports, a whole lot has already happened since the Brexit votes were announced on Friday morning. Financial markets hate instability.

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