Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Merkel: we want to limit Brexit fallout

Monday, April 03, 2017 - 01:42

The European Union should try to limit the fallout from Britain's decision to leave the European Union, German Chancellor Angela Merkel said on Monday, conceding that some damage was inevitable. Sara Hemrajani reports.

▲ Hide Transcript

View Transcript

Bracing for the Brexit fallout. Ever since Theresa May triggered Article 50, the reality of the UK's impending departure has hit closer to home. At a conference with her Czech and Slovak counterparts, Angela Merkel admitted there will be some negative consequences. (SOUNDBITE) (English) ANGELA MERKEL, GERMAN CHANCELLOR, SAYING: "We want to limit the damage of Britain's exit but naturally there'll be some negative impact. And so it is even more important that the remaining 27 member states - three of them stand here today - stick together to improve the competitiveness, our future effectiveness, and openness of the European Union." The German population seems to be sharing that sentiment. Unity was the theme at pro-EU rallies in Frankfurt and Berlin on Sunday. Meanwhile in London, Parliament is working to assure that it can negotiate the terms of the divorce by 2019. Some analysts say it's too much too soon. (SOUNDBITE) (English) KEN ODELUGA, MARKET ANALYST, CITY INDEX, SAYING: "We're in transitional arrangement territory here. I think the government will have done very, very well if we get the agreement to actually discuss material points about trade towards the end of the two year period, if we get the agreement to actually get on to that then we'll be doing very well. I don't think we'll be able to finalise anything major in the space of two years." Talk of Brexit is also emerging on the sidelines in Luxembourg, where EU foreign ministers are meeting to discuss Syria.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Merkel: we want to limit Brexit fallout

Monday, April 03, 2017 - 01:42