Britain, EU need new, 'fair and binding' rules for post-Brexit ties: Germany

August 30, 2016 3:55 AM EDT

German Foreign Minister Frank-Walter Steinmeier attends a news conference after a meeting on the Syria crisis at the Quai d'Orsay ministry in Paris, France, March 4, 2016. REUTERS/Jacky Naegelen/File Photo

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BERLIN (Reuters) - German Foreign Minister Frank-Walter Steinmeier said Britain's decision to leave the European Union would have long-term consequences that were still difficult to estimate, and said both sides needed new, fair and binding rules for their future ties.

Steinmeier told over 1,000 German diplomats and business executives at a foreign ministry conference that it was in Britain's interests to start the process quickly given economic effects that were already becoming evident.

(Reporting by Andrea Shalal; Editing by Madeline Chambers)

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