AIB chairman Richard Pym said that Ireland must prepare for a “car crash” Brexit in the event that what he called “headbanger” Brexiteers lobbying for a hard exit got their way

"We must plan for the worst possible car-crash Brexit if the ultra-Brexiteers, the head-bangers, are prepared to blow up the British economy in the name of taking back control."

Chairman of AIB Richard Pym opens @AIBBiz ‘Trade through #Brexit - the Inside Track’ business breakfast pic.twitter.com/pffV6SLqTq — Drury (@DruryPN) October 27, 2017

Speaking at an AIB event on the implications of Brexit at the Royal Hospital Kilmainham Mr Pym went on to suggest Britain’s decision to leave the EU was “quite extraordinary” from a business point of view.

“They promised continued access to single market while controlling immigration, and access to the customs union whilst developing additional trade deals.

“On immigration, there is ample evidence they can’t run the current system - never mind form a new one.

“Their currency has tanked; inflation is increasing; and euro zone growth now exceeds the UK’s.

“The macabre irony is that the delay in the implementation of Brexit means the UK will [in the meantime] have to comply with EU rules that they have no hand in making.”

Enthralling panel discussion at our @TreasuryAIB #Brexit event where the main topic of discussion is 'Trade Through Brexit'. pic.twitter.com/9Ze6GClghL — AIB Business (@AIBBiz) October 27, 2017

Speaking at the same conference Minister Minister for Foreign Affairs Simon Coveney assured those in attendance that the Irish state was planning for all Brexit eventualities.

"We need to continue to negotiate for the best possible outcome, but we are preparing in the background for outcomes that we don’t want."

"On the border issue, I’m sorry but we need more clarity than we have right now.

"We cannot move ahead to phase two on the back of a promise that we don’t see any delivery mechanism to make a reality.

"We don’t need all the answers but we certainly need to have more assurance than we have today.

"We need some understanding that if the trade negotiations collapse, which could happen, that the Irish issues will still be resolved and prioritised."

A detailed trade partnership agreement between Britain & EU will take no. of yrs to negotiate, there needs to be a transition period #Brexit pic.twitter.com/92wCya6cxS — AIB Business (@AIBBiz) October 27, 2017

Mr Coveney went on to say what many UK politicians had promised politically was "simply undeliverable.”

He went on: “The realisation of that is dropping slowly. We must work towards a deal that recognises there are consequences to leaving the EU. That’s not a punishment. It is simply a fact that membership of the EU brings privileges, such as the trading structure.

“Leaving the EU cannot result in holding onto all the trade benefits of membership, while at the same time convincing your people that you can get all these other goodies. It can’t be done. It won’t be done, and it cannot be negotiated.”

“The consequences of leaving the EU are now being laid bare. This is a huge mistake by the British people, but it is their mistake to make. We have to accept the reality of it.

“The outcome we want is as close to the status quo as we can get. I’m not sure that view is necessarily shared – and understandably so – by other EU members states.”

This report was curated from original reports on irishtimes.com and RTE.ie