Brexit: Germany rules out informal negotiations

There can be no talks on Brexit before the UK formally begins the process to quit the EU, Germany’s government says.

The UK would be given a ‘reasonable amount of time’, but there must be no impasse, a spokesman said.

The leaders of Germany, France and Italy meet later in Berlin, with the speed of negotiations for Britain’s exit high on the agenda.

UK Finance Minister George Osborne has issued a statement to try to calm markets, amid continuing volatility.

UK shares have remained uneasy in the wake of the vote, although Mr Osborne’s statement appeared to have helped lessen further big falls in stocks and the pound.

Last Thursday, Britain voted by 52% to 48% to leave the EU.

Government spokesman Steffen Seibert said: Only when Britain has made the request according to Article 50 will the European Council draw up guidelines in consensus for an exit agreement.

One thing is clear: before Britain has sent this request there will be no informal preliminary talks about the modalities of leaving.

He added: ‘If the UK government needs a reasonable amount of time to do that, we respect that,’ but said that the uncertainty could not continue forever.

Angela Merkel appears to want calm and not speedy negotiations German Chancellor Angela Merkel, French President Francois Hollande and Italian PM Matteo Renzi will meet in Berlin later.

Mrs Merkel has indicated the need for calm negotiations and said she ‘would not fight now for a short timeframe’ for Brexit.

France and Germany have insisted they are in ‘full agreement’ on Brexit, although French Finance Minister Michel Sapin said on Monday this meant Britain should ‘go quickly’.

Article 50 of the Treaty of Lisbon sets a two-year timetable for an exit deal. But UK PM David Cameron, who will step down by October, says he will leave the timing of its invocation to his successor. He is due to make a special address to parliament later.