"Considerable" Brexit costs will prevent Italeave, Departugal or Czechout says top Eurozone official

 
Mark Sands
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The UK voted to leave the European Union on 23 June. (Source: Getty)

One of the Eurozone's top officials has branded claims that other European countries will follow suit after Brexit as "fantasy".

President-elect Donald Trump has predicted fresh departures from the EU, arguing that member-states will be keen to pursue their own identities.

However, European economic affairs commissioner Pierre Moscovici has told reporters that the "considerable" cost of Brexit would deter others.

Read More: Trump wants to seal a new trade deal with the UK "very quickly"

"I'm not worried, I think this idea that Brexit is going to be contagious is a fantasy, a bad fantasy," Moscovici told reporters in Paris.

Trump also said that Brexit would be " a great thing", and threatened German carmakers BMW, Daimler and Volkswagen with import tariffs as high as 35 per cent.

All three firms make cars in both the US and Mexico.

Read More: BMW commits to Mexico plant as Fiat Chrysler wavers

"If you want to build cars in the world, then I wish you all the best. You can build cars for the United States, but for every car that comes to the USA, you will pay 35 percent tax," Trump said in remarks translated into German.

"We must be extremely vigilant, mobilized and, when the times comes, reactive, if a certain spirit is confirmed," Moscovici responded.

"Europe must not be naive and Europe must be able to react."

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