The development of two EMU member countries Germany and Ireland

After the European Monetary Union (EMU) was established, every member state participating in the union was influenced positively or negatively including two founding members Ireland and Germany. Among all the members, Ireland and Germany both experienced an upward development but their reasons of development and primary situation are not very different. By analyzing and comparing different sectors including culture, economy and agriculture of these two countries, it came to the result that Ireland’s rapid growth was more related to joining the EMU, and it has undergone successful economic and cultural transformation. However, Germany also developed throughout the centuries but not only depending on the EMU, especially from the economic aspect. Although they both can be considered as a winner according to the flourish development, the economic tendency, cultural shifts and industrial developments are not identical at all. From these two case studies it can be extended to the fact that the establishment of the EMU impacted countries differently. It can be both based on its economic and political decisions before joining the EMU and their later performances as well.