Brexit: Germany rules out informal negotiations

The German government says there can be no talks on Brexit before the UK formally begins the process to quit the EU. 

A spokesman says the UK would be given a reasonable amount of time, but there must be no impasse. 

The leaders of Germany, France and Italy will 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 percent to leave the EU.



SOURCE: BBC news