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Brexit would shut UK out of single market

  • German Finance Minister Wolfgang Schaeuble on Friday warned that if Britain voted to leave the European Union, it would not have access to the single market. In the June 23 referendum, if Britons opt for a Brexit, free movement of people, goods & services will be shut, said Schaeuble. He also warned that a Brexit could spark contagion in the EU. He further added that whatever is the outcome, EU must show it has learnt lessons from British referendum. Even if Brexit is narrowly averted, he said, we would have to see it as a warning signal and a wakeup call not to continue business as usual and Europe in the end will manage without Britain, if it leaves.