Ireland’s ForeignMin: Brexit transition may take longer than 2 years

Bloomberg reporting comments from Ireland’s Foreign Minister Simon Coveney, delivered in a parliamentary speech in Dublin late-Tuesday.

Key Quotes:

“It may well prove necessary for the U.K. to seek a longer transition phase than the two-years, considering the amount of work involved preparing adequately for Brexit.”

Separately, a person familiar with the Irish government’s preparations for Brexit noted that the so-called implementation period after the UK exits the European Union laid out by May in her Florence speech last week could take as long as five years.