"My assessment is that an unregulated situation would have very significant consequences for the British economy," Scholz told a news conference after a meeting of EU finance ministers in Berlin.
"Europe would be able to deal with it and there would be no particularly serious consequences after the preparations we have already made," he added.
Prime Minister Boris Johnson said on Saturday that a planned bill, which would breach a divorce treaty with the bloc, was needed to protect Britain's integrity.
(Reporting by Paul Carrel; Editing by Michael Nienaber)
