GETTY Hans Joerg Schelling claims Britain will rejoin the EU

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Hans Joerg Schelling made the bold prediction during a speech at a trade meeting in London that the British public would flip-flop on the vote to leave the EU. After meeting Chancellor Philip Hammond, the Austrian finance minister said: “When Britain joined the European Community in 1973, it was called the sick man of Europe.

In my view, I think that Great Britain will probably in 10 or 20 years again be a member of the EU Hans Joerg Schelling

“More than four decades later it is one of the largest economies in the EU and the fifth largest in the world. “According to the 2015 prosperity index it is one of the most successful economies. “In my view, I think that Great Britain will probably in 10 or 20 years again be a member of the EU.” The Austrian entrepreneur took a hardline stance against the possibility of Britain negotiating a free trade deal – claiming any deal could not be achieved without accepting the free movement of people.

GETTY Philip Hammond met with the Austrian finance minister in London

Mr Schelling said: “It is very important to say it must be a fair balance between rights and obligations. “It is not possible that you can have all of the rights but none of the obligations. “In the Treaty of Lisbon you can read that there is no access to the single market without also accepting the four freedoms – that must be clear.

“It is very important, and I will tell this to the government of Britain.” The Austrian minister noted he wanted to find a “good solution” and that the will of the British public should be respected. He added: “I think it is better to accept the result of the majority of people of the UK – you can regret it but it is the reality.

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“And now we have to manage with this, and I hope we can find a good solution between the EU and the United Kingdom.” Trade and business group 21st Austria produced a report at the meeting, highlighting the possible outcomes of Brexit. The study found the remaining EU countries have “a relatively strong position” in their negotiations with Britain.

GETTY Despite believing Britain will rejoin the EU, Schelling wants to find a 'good solution' with Britain