British PM to face European leaders

LONDON (AA) – U.K. Prime Minister David Cameron heads to Brussels on Tuesday to meet European Union leaders for the first time since Britain’s decision to leave the 28-country bloc.

The British premier is expected to meet the European Commission President Jean-Claude Juncker and the European Council President Donald Tusk.

Cameron will later have dinner with 27 other EU leaders and the U.K.’s historic vote.

The European Parliament will also hold an extraordinary session to discuss the Brexit.

Cameron's visit comes as political turmoil continues in the U.K. and as his ruling Conservative Party prepares to replace him as leader.

British finance minister George Osborne stated in an article in The Times on Tuesday that he would not be a candidate in the Conservative leadership election to come

The Conservatives revealed that leadership nominations would open at midday on Wednesday and close 24 hours later. The new leader will be in place by Sep. 2, the party said.

Speaking on BBC's Radio 4 on Tuesday morning, Osborne said he warned the country about the economic risks of a Brexit vote.

Osborne said there would be tax rises and spending cuts which he predicted before the referendum.

"We are in a prolonged period of economic adjustment," he stated, adding: "It will not be as economically rosy as life inside the EU. It’s very clear that the country is going to be poorer as a result of what is happening to the economy."