Speaking to German television, European Parliament President Martin Schulz said a cool head was needed to analyse the result of the UK referendum. Commenting on the UK he said: ‘The county was at a phase of insecurity. Now the EU has to analyse the situation with sobriety’. Schulz said he would confer with German Chancellor Angela Merkel on how to prevent a chain reaction after the ‘Brexit’. ‘Britain is facing a tough economic challenge after the vote’, he said.