The jury is out on the long term outcome for the two approaches and every country has deciding factors which way to go. I have been watching the excellent FT Covid website and there is some great number crunching going on. Of course the disclaimer is 'Lies, damn lies and statistics'.
Interesting to see the death rate in the two countries ( plus UK ). I assume the jaggedness in curve is due to the smaller population ( Ireland has 1/2 population of Sweden and UK 6 times plus Sweden )
This is a cumulative chart
As an aside, Belgium is the highest on the chart and the US is below Ireland amazingly.
It's going to be very interesting to see how the graph changes with the relaxation of lockdown in the various countries.