Brexit decision is 'irreversible', says German finance minister
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Brexit decision is 'irreversible', says German finance minister

Wolfgang Schaeuble reckons there's no turning back for the UK. Photo: Reuters

Wolfgang Schaeuble reckons there's no turning back for the UK. Photo: Reuters

The British vote to leave the European Union is irreversible and London should file its official application to leave the bloc soon, German Finance Minister Wolfgang Schaeuble has said.

"I don't think the British decision to leave the EU is reversible," Schaeuble said in a speech in the southern German city of Kuenzelsau, adding it would be "decent" if Britain filed its official application to exit the EU soon.

Schaeuble said there had been no chaos on financial markets so far after the Brexit vote, but the German government would continue to monitor the situation very carefully.

"It's crucially important now that we act wisely and cautiously in order to keep the damage as small as possible," the veteran conservative politician added.

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