Britons will realise they "made a mistake" over Brexit if the EU flourishes, Germany's finance minister is hoping.

Wolfgang Schaeuble outlined his wish for the bloc to perform "so well" it leads UK voters to change their mind on leaving the EU.

Speaking at an event in Berlin on Wednesday, he said: "I hope that the rest of Europe will do so well the British realise at some point they made a mistake."

But Mr Schaeuble expressed doubts as to whether the two-year period of Brexit negotiations between Britain and the EU would be "sufficient" for such a change of heart.

What do EU citizens think of Brexit?

His comments backed up German Chancellor Angela Merkel's call for remaining EU member states to concentrate on their own fortunes as the UK quits the bloc.


She said: "We will of course negotiate in a friendly atmosphere whenever this is possible.

"But we must make sure that the EU 27 look after their future.

"It would be fatal if we lose sight of the future and unity of the EU 27 before sincere exit negotiations with Britain."

Mrs Merkel also warned the UK Government, which hopes to agree a free trade deal with the EU alongside a divorce agreement, the Brexit talks are "not a wish list".

She added: "The decision to leave was made by the British."

The German Chancellor's comments on Wednesday came as the Prime Minister told the House of Commons the UK would not sign up to an "unlimited transitional phase" as part of Brexit negotiations.

Image: Theresa May told MPs a transitional agreement would not be unlimited

Theresa May made the pledge following a public discussion by two of her senior Cabinet ministers over the timescale of the UK's exit from the EU.

Brexit Secretary David Davis said any period in which Britain phases in a future relationship with the EU was likely to end before the next scheduled general election in 2022.

He described Chancellor Philip Hammond's previous remarks on the issue as "not quite consistent with one another", after his Cabinet colleague suggested transitional arrangements could in place for years and were up for negotiation.

Mrs May told MPs: "When we know what the future relationship with the EU will be, we may need implementation periods.

"But I am very clear, this does not mean unlimited transitional phase: we are going to leave the EU. That's what people wanted and that's what we will deliver."