One of Germany’s top banking regulators has warned that London could lose its status as “gateway to Europe” for the banking sector after Britain quits the European trading bloc.

Andreas Dombret, who is an executive board member for the Bundesbank – Germany’s central bank – told a private meeting of German businesses and banks earlier this week in Frankfurt that even if banking rules were “equivalent” between the UK and the rest of the EU, that was still “miles away from [Britain having] access to the single market”.

“The current model of using London as a gateway to Europe is likely to end,” Mr Dombret reportedly said.

Mr Dombret reportedly made it clear that he did not support a “confrontational approach” to future relations between the UK's substantial financial services sector and the EU, but that there was “intense uncertainty” about how Brexit negotiations would pan out.

He said that Brexit fits into a trend towards “renationalisation” which he said he strongly believes “negatively affects the wellbeing of us all”.

“We should therefore invest all our efforts in containing these trends,” the BBC reported that Mr Dombret said.

Mr Dombret, who was born in the US to German parents, is a former banker who held positions at Deutsche Bank, JPMorgan, Rothschild and Bank of America before joining the Bundesbank in 2010.

Earlier this week the European Parliament’s lead Brexit negotiator said that the EU needs to reform or it risks disappearing completely. Guy Verhofstadt said that there are multiple sources of pressure on the bloc.

How Brexit affected Britain's favourite foods from Weetabix to Marmite Show all 8 1 /8 How Brexit affected Britain's favourite foods from Weetabix to Marmite How Brexit affected Britain's favourite foods from Weetabix to Marmite Weetabix Chief executive of Weetabix Giles Turrell has warned that the price of one of the nation’s favourite breakfast are likely to go up this year by low-single digits in percentage terms. Reuters How Brexit affected Britain's favourite foods from Weetabix to Marmite Nescafé The cost of a 100g jar of Nescafé Original at Sainsbury’s has gone up 40p from £2.75 to £3.15 – a 14 per cent rise—since the Brexit vote. PA How Brexit affected Britain's favourite foods from Weetabix to Marmite Freddo When contacted by The Independent this month, a Mondelez spokesperson declined to discuss specific brands but confirmed that there would be "selective" price increases across its range despite the American multi-national confectionery giant reporting profits of $548m (£450m) in its last three-month financial period. Mondelez, which bought Cadbury in 2010, said rising commodity costs combined with the slump in the value of the pound had made its products more expensive to make. Cadbury How Brexit affected Britain's favourite foods from Weetabix to Marmite Mr Kipling cakes Premier Foods, the maker of Mr Kipling and Bisto gravy, said that it was considering price rises on a case-by-case basis Reuters How Brexit affected Britain's favourite foods from Weetabix to Marmite Walkers Crisps Walkers, owned by US giant PepsiCo, said "the weakened value of the pound" is affecting the import cost of some of its materials. A Walkers spokesman told the Press Association that a 32g standard bag was set to increase from 50p to 55p, and the larger grab bag from 75p to 80p. Getty How Brexit affected Britain's favourite foods from Weetabix to Marmite Marmite Tesco removed Marmite and other Unilever household brand from its website last October, after the manufacturer tried to raise its prices by about 10 per cent owing to sterling’s slump. Tesco and Unilever resolved their argument, but the price of Marmite has increased in UK supermarkets with the grocer reporting a 250g jar of Marmite will now cost Morrisons’ customers £2.64 - an increase of 12.5 per cent. Rex How Brexit affected Britain's favourite foods from Weetabix to Marmite Toblerone Toblerone came under fire in November after it increased the space between the distinctive triangles of its bars. Mondelez International, the company which makes the product, said the change was made due to price rises in recent months. Pixabay How Brexit affected Britain's favourite foods from Weetabix to Marmite Maltesers Maltesers, billed as the “lighter way to enjoy chocolate”, have also shrunk in size. Mars, which owns the brand, has reduced its pouch weight by 15 per cent. Mars said rising costs mean it had to make the unenviable decision between increasing its prices or reducing the weight of its Malteser packs. iStockphoto

“If we look to the pressure on the European Union at the moment… [President Donald Trump] is bidding on the designation of the European Union and also Vladimir Putin who wants to divide the European Union,” he said.