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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, Reuters reported.

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.

With 31 of 32 constituencies declared, unionists had won 55 percent of the vote while separatists were on 45 percent.

Unionists cheered, kissed and drank wine at a party in Glasgow while nationalist leader Alex Salmond conceded defeat in front of an image of a giant white on blue Scottish flag in Edinburgh.

"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.

Salmond laced his defeat with a warning to British politicians in London that they must respect their last minute promise of more powers for Scotland.

"Scotland will expect these to be honoured in rapid course," he said before walking off the stage.