1916 was the time of England's difficulty. 2010 is the time of Ireland's difficulty as the economy faces serious problems. But history does not repeat itself, things are different now. Ireland, burdened with a massive debt and experiencing emigration again, is not faced with some foreign power determined to take advantage of its weakness through violence.
Instead the interdependence of modern economies is so pronounced that foreign powers hurry to prop up their neighbours in times of economic crisis. American journalist Thomas Friedman proposes a "Dell Theory of Conflict Resolution" which may explain why weaknesses in one country no longer inspire invasions by another, why debt-stricken Ireland won't be occupied or enslaved:
The Dell Theory stipulates: No two countries that are both part of a major global supply chain, like Dell’s, will ever fight a war against each other as long as they are both part of the same global supply chain.