Financial Times reports: Britain will still be a member of the EU in five years, Austria’s finance minister has predicted, arguing the economic volatility unleashed by the Brexit vote will prompt a rethink by the country.

Hans Jörg Schelling told Germany’s Handelsblatt newspaper that the reaction of financial markets and business since the June 23 referendum result had been a “salutary shock” for the UK.

The longer the uncertainty lasted, the greater would be the damage for the rest of Europe, the Austrian finance minister warned. But the impact would be “very much greater” in Britain.

In five years’ time, “there will still be 28 member countries [in the EU],” Mr Schelling said in an interview published late on Monday. “Great Britain will remain a member in the future.” [Continue reading…]