By Elaine Loughlin, Political Reporter in New York

A “stream of inquiries” have been made by multinational firms looking to relocate here after Brexit, the Taoiseach has said.

Enda Kenny has said that the two-year deadline set down for Britain’s exit of the EU is “probably impossible” and there would be a “transition period beyond the negotiations”.

Mr Kenny who is in New York as part of a four-day trip to the US said that European leaders

would “certainly not” let the UK cherry-pick the terms and conditions of its exit.

“There will be no concession made by Europe in that regard,” he said.

Asked about how Ireland might benefit from Brexit, Mr Kenny told Bloomberg TV that “in every political issue like this there are always opportunities”.

He added: “There have been a stream of inquiries form Britain from financial houses and banks and others.

Mr Kenny said that Ireland would compete “fairly and hard” for any business that may arise from the Brexit fallout.

Mr Kenny will meet business leaders and Enterprise Ireland clients in New York today.