Britain must take responsibility for Brexit - German economy minister

Germany's economy minister has put further pressure on Britain to come to terms with its decision to leave the European Union, saying that it should not be allowed to "keep the nice things" from the bloc.

Sigmar Gabriel told a news conference that the country must take responsibility for the fallout that has emerged from its Brexit referendum, and warned of dire political consequences if other states followed its lead.

“If we organise Brexit in the wrong way, then we’ll be in deep trouble, so now we need to make sure that we don’t allow Britain to keep the nice things, so to speak, related to Europe while taking no responsibility,” Gabriel said.

New prime minister Theresa May will head a cabinet meeting to discuss the issue on Wednesday, as her government appears to be in no rush to invoke the EU's Article 50, which allows for a member state to negotiate its departure.

Gabriel played down the economic consequences surrounding the vote to leave, instead focusing on the political turmoil it may lead to.

“Brexit is bad but it won’t hurt us as much economically as some fear – it’s more of a psychological problem and it’s a huge problem politically,” he remarked.

German chancellor Angela Merkel reiterated her belief on Sunday that the remaining European countries must strive to ensure that Brexit does not further stabilise the region.

“If you do it wrong from the beginning and you don’t listen – and act just for the sake of acting – then you can make many mistakes,” the German leader said.

“Rather than rushing into activities, we should perhaps first take time to think about what we, as the 27 countries, must do better,” she added.