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In 1973, Ireland was an outlier in Western Europe. Far behind other EEC members in economic terms; the sole non-NATO member among the 9; socially, far more conservative. The others were sceptical of 🇮🇪’s membership credentials. They accepted us primarily as a UK add-on.
That 1978 decision to join EMS was a brave one in view of the importance of 🇬🇧 for our exports. It set a pattern of opting to take the European path whenever a choice needed to be made. Over the years, our economic dependence on UK has declined although it remains a vital market
In 1973, Ireland’s per capita national wealth was less than 2/3 of the EEC average. The early years of membership saw gains for agriculture but problems for industry as firms faced the rigours of free trade. Cohesion funding provided valuable support, e.g. for our fledgling RTCs.
As you all know #deflation has been my theme for some time. It is obvious looking at charts like #Copper and #Oil. Here is #Oil. Ending Diagonal which will send Oil <23 USD during 2019/2020. This has been my call since top in 2018. It is >70% drop --> deflationary #HZupdates 
#Copper shows same picture. #Deflation is coming. We are in wave 5 of C in expanding diagonal. Current bounce is wave 2 - will rally slightly higher - before major drop. I imagine this is what Powell starts getting indications on #HZupdates
Notice 2008 Q1-Q3 - during last deflationary phase. Fed had been tightening up to Sept. 2007 - and started lowering rates. BUT damage had been done to economy. World rolled over and #deflation /disinflation. It was from Q1-Q3 2008. #Copper plunged. Same situation now! #HZupdates
