Germany’s Free Democrats have demanded a special “Brexit cabinet” in Berlin to safeguard the vital interests of the country, citing growing alarm among industrial and manufacturing companies over the disastrous implications of a failed deal with the UK.

The fast-rising party says it will push for an amicable compromise in Brexit talks if it joins the ruling coalition this autumn - as now looks increasingly likely - warning that it would be a fatal error for Europe to humiliate Britain.

“We are hearing an uttering of concerns from German companies and trade unions about what could happen if there is a crash-Brexit and no deal in place. Criticism is growing,” said Michael Theurer, MEP, the party’s economics chief.

“People are only just starting to realize the full dimensions of this. There could be WTO duties, visas, all kinds of things. Small enterprises are very concerned. There are also a lot of German companies that rely on financing from the City of London, and they are very happy with the service they get now,” he told The Telegraph.