While increased reliance on digital technology may heighten the risk of cybersecurity being compromised, digital technology also presents numerous opportunities to improve security of digital financial services. Data encryption to protect digitally stored data is improving with technological advances. Data analytics can be used to detect irregular patterns and fraud.
However, given the point from which Ireland was starting in 1973, it was evident that the advent of free trade resulting from membership would bring major changes to the trading relations and structure of the Irish economy. Prior to membership, Ireland had a relatively large agricultural sector, which was highly dependent on the adjacent UK market.