German Finance Minister Wolfgang Schäuble said there was no chance of Britain being able to enter the same type of agreement as Switzerland or Norway in which they enjoy some of the benefits of the single market without being an EU member.
He told German magazine Der Spiegel: "That won't work.
"It would require the country to abide by the rules of a club from which it currently wants to withdraw.
"If the majority in Britain opts for Brexit, that would be a decision against the single market. In is in. Out is out.
Being cut off from the single market means Britons would not be able to enjoy the free movement of good, services and people inside the EU anymore.
Mr Schäuble urged the British people to remain in the EU and said Germany would offer a way back in if it turns out to be a big mistake
"One has to respect the sovereignty of the British people.
Being cut off from the single market means Britons would not be able to enjoy the free movement of good, services and people inside the EU anymore.
Mr Schäuble urged the British people to remain in the EU and said Germany would offer a way back in if it turns out to be a big mistake
He added: "Europe will also work without Britain if necessary.
The former chairman of Angela Merkel's Christian Democratic Union party, said lessons could be learnt from Britain's EU Referendum regarding Europe's bureaucracy.
He said: "In response to Brexit, we couldn't simply call for more integration.
"That would be crude; many would rightfully wonder whether we politicians still haven't understood.
"At some point, the British will realize they have taken the wrong decision.
"And then we will accept them back one day, if that's what they want."
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