This paper traces some effects on the economy of the Republic of Ireland of accession to the European Community in 1973. The principal benefits have been in agriculture where substantial budgetary transfers under the Common Agricultural Policy have resulted in a more commercialised industry, but also one characterised by considerable income disparities. The bias in industrial policy has been towards attracting foreign investment, which, while making a significant contribution to the economy, has resulted in a dual industrial structure, with a poorly linked and weak indigenous sector. The most recent stage of economic policy has seen a greater emphasis on tourism and internationally traded services. While completion of the Single Market in 1992 offers new opportunities to Ireland, many commentators are pessimistic about Europe's more peripheral regions withstanding the forces of economic concentration.