Celtic Tiger
"Celtic Tiger" (Irish: An Tíogar Ceilteach) is a term referring to the economy of the Republic of Ireland from the mid-1990s to the mid-2000s, a period of rapid real economic growth fuelled by foreign direct investment, and a subsequent property bubble which rendered the real economy uncompetitive. The Irish economy expanded at an average rate of 9.4% between 1995 and 2000 and continued to grow at an average rate of 5.9% during the following decade until 2008, when it fell into recession.
The economy underwent a dramatic reversal from 2008, with GDP contracting by 14% and unemployment levels rising to 14% by 2011.
Term
The colloquial term "Celtic Tiger" has been used to refer to the country itself, and to the years associated with the boom. The first recorded use of the phrase is in a 1994 Morgan Stanley report by Kevin Gardiner. The term refers to Ireland's similarity to the East Asian Tigers: Hong Kong, Singapore, South Korea, and Taiwan during their periods of rapid growth in the early 1960s and late 1990s. An Tíogar Ceilteach, the Irish language version of the term, appears in the official terminology database and has been used regularly in government and administrative contexts since at least 2005.
Podcasts:
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by Damien Dempsey
Celtic Tiger
by: Damien DempseyGreedy, greedy, greedy, greedy, greedy
So greedy, greedy, greedy, greedy, greedy
Now they saw the Celtic Tiger in my home town
Brings jewels and crowns, picks you up off the ground
But the Celtic Tiger does two things
It brings you good luck or it eats you up for its supper
It's the tale of the two cities on the shamrock shore
Please Sir can I have some more
Cos if you are poor you'll be eaten for sure
And that's how I know the poor have more taste than the rich
And that's how I know the poor have more taste than the rich
Hear the Celtic Tiger roar - I want more
Hear the Celtic Tiger roar - I want more, more, more
The fastest growing inflation rate in the world,
the cost of a run down house is absurd
This isn't any age for a low income wage
Ask anyone who's locked in a cage
A couple with kids can't afford a place to live
Even if they have a good job
We're bring robbed by the builders and the fat cat government
A league of greed and they don't even need for a thing
It's a sin
But it's the nature of the beast
You'd better go and find a priest and confess
Because your greed is gonna leave you soulless
Where we gonna live, what we gonna do
We'll have to move in with the woman in the shoe
They're driving us onto the streets
While the fat cat in government cheats, and always
gets away with his crime
A kid steals a jacket and does time
Just look at the world around you
Tell why is there so much need
Because of greed
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