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Examine the impact of membership of the European Union on the Irish economy. - Leaving Cert Geography - Question 7C - 2020
Question 7C
Examine the impact of membership of the European Union on the Irish economy.
Worked Solution & Example Answer:Examine the impact of membership of the European Union on the Irish economy. - Leaving Cert Geography - Question 7C - 2020
Step 1
Identify the impact of membership of the European Union on the Irish economy
Answer
Membership of the European Union has significantly impacted the Irish economy in various ways. A key positive impact is the increase in foreign direct investment (FDI) due to access to a larger European market. This has led to the establishment of multinational corporations in Ireland, thus boosting job creation and economic growth.
Step 2
Examine both positive and negative impacts
Answer
The positive impacts include enhanced trade opportunities, which have allowed Irish businesses to expand their markets. Moreover, EU membership helped Ireland secure substantial structural and cohesion funds, which have been vital for infrastructure development.
Conversely, negative impacts include increased competition from other EU countries, which can be detrimental to certain sectors of the Irish economy. Additionally, the reliance on EU funding may create a dependency that could pose risks in the long term.
Step 3
Discuss specific policies related to EU membership
Answer
One significant policy is the Common Agricultural Policy (CAP), which has provided critical support to Irish farmers, ensuring their livelihoods and promoting rural development. However, the constraints imposed by EU regulations can hinder the flexibility of local businesses to adapt quickly to market changes.