DUBLIN, Dec 9 (Reuters) - Ireland’s Foreign Minister Simon Coveney on Wednesday warned that failure in trade talks with Britain was a “distinct possibility” that the European Union needed to prepare for. “I think it’s important to say... don’t get your hopes too high here,” Coveney told Ireland’s Newstalk radio. “This is something that can be resolved with the right approach from both sides this evening. But the inability to resolve it to date means failure is a distinct possibility,” Coveney said. (Reporting by Conor Humphries; Editing by Jon Boyle)