German Finance Minister warns against Brexit

Berlin: German Finance Minister Wolfgang Schaeuble on Friday warned against a British exit from the European Union (EU). "A Brexit would be tough for everyone, but above all for Britain," Xinhua quoted the minister as saying. Britain is scheduled to hold a referendum on June 23 on its EU membership. Schaeuble noted that the vote was final and renegotiations would not make a British withdrawal reversed. "In is in. Out is out," he stressed. The minister also warned of a domino effect, expressing concern that other EU member countries would think about leaving the EU after the British referendum. He noted that the EU must show it has learned lessons from the British referendum whatever the outcome. Even if the British people vote for an EU membership by a narrow majority, Schaeuble said, "It would be a warning with the message: not to continue with business as usual." But if Britain leaves, the minister added, Europe at a pinch "will also work without Britain."