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Germany's Schaeuble says clear process for Brexit will be applied

Reuters - UK Focus

BERLIN, June 24 (Reuters) - German Finance Minister Wolfgang Schaeuble said on Friday there was a clear process for exiting the European Union and this would now be applied with Britain after its vote to leave the bloc.

"We respect the outcome of the British referendum," Schaeuble said in a written statement. "I had hoped for a different result. Now (NYSE: DNOW - news) we must look forward and deal with this situation."

"For that purpose, I am in close contact today with my G7 partners. The EU process for an exit from the European Union is clearly defined and will be applied," he added. "Europe will stand together now."

(Writing by Paul Carrel; Editing by Caroline Copley)