Any chance that this change in stance triggers ANOTHER referendum, this time to stay in the EU? They still have 2 years, things may change
England is already out of many EU mechanisms (the Euro, the Schengen visa agreement, etc.) by virtue of being of the founding members and thus having a good amount of bargaining power. Thus, to the extent to which the UK is already benefiting from a good amount of exceptions, some of the EU leadership seems pretty bitter about this vote and has declared that "out is out". The biggest implication seems to be that the UK will have to leave the common market and negotiate whatever they can negotiate with the EU subsequently. Furthermore, if they ever want back in, they'll be subject to a full-fledged admission procedure which would likely include losing all the opt-out benefits they previously had.