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Germany warns Brexit would damage UK, Europe and world

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Staff writer ▼ | March 9, 2016
British vote to leave the European Union would damage the British, European and global economies.
Wolfgang Schäuble
Going out   Germany see no point in the UK leaving the union
German Finance Minister Wolfgang Schäuble said that in an interview with the BBC.

“We would have years of the most difficult negotiations, which would be very difficult for the EU as well. And for years we would have such insecurity that would be a poison to the economy in the UK, the European continent and for the global economy as well,” Schäuble said.

Schäuble said that while Britain would still be able to trade with the EU after leaving, it could not have the advantage of access to the bloc’s single market without accepting free movement of EU citizens or paying in to the EU’s budget.

He dismissed the idea that Britain could follow the example of countries such as Norway, which accepts freedom of movement, pays contributions to the EU budgets and applies the single market’s rules and regulations without having a vote on them.

“I cannot really see why the UK would be interested in staying within the single market without being able to make decisions about it,” he said.

“It doesn’t really make sense.”