EU Cannot Continue As Before After Brexit, Says German Finance Minister

Berlin: The European Union cannot have a business as usual approach after Britain voted to leave the bloc, German Finance Minister Wolfgang Schaeuble said on Monday, adding that EU leaders should address popular dissatisfaction.

"I said before the referendum that regardless of how the vote in Britain pans out we cannot simply continue as before in Europe," Schaeuble said in a speech in the southern city of Fuerth.

He added: "We must concentrate in Europe on accommodating the fact that ever more people in Europe - not only in Germany, not only in Britain, not only in Greece, and not only in Denmark, and not only in France - do not fully understand what we do."

Schaeuble said the remaining 27 members of the EU should not react to the Brexit vote with more socialisation of risks.