German Finance Minister Wolfgang Schaeuble said that the European Union is preparing for the economic fallout associated with the British referendum to leave the Union, and warned that the United Kingdom "Brexits", other EU members may try to do so as well. Polls show that the outcome of the referendum is uncertain, with the "Leave" vote gaining in the past weeks ahead of the "Remain" supporters who held the lead for most of the time.
"Planning is being carried out for all possible scenarios in order to contain the dangers. How would, for example, the Netherlands respond, which is traditionally very strongly associated with Britain?", Schaeuble told Der Spiegel.
Schaeuble warned the United Kingdom that Brexit would mean economic uncertainty for them, and that the country would need to adhere to the rules of the EU single market if it wants to continue trading with the Union. According to Schaeuble, Europe can continue to work without Britain. "In is in, out is out", Schaeuble added, dismissing the idea that following the referendum, talks can begin to agree on some kind of an alternative EU membership for Britain.