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THE MAN CREDITED with inventing the ‘Celtic Tiger’ phrase in 1994 has resigned from his position with Barclays Bank in the UK.
Kevin Gardiner was until recently working as chief investment officer for the European markets at the UK banking giant.
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He is credited with inventing the term in a report for Morgan Stanley twenty years ago to describe the unprecedented growth the Irish economy was seeing at the time.
The name stuck, and became indelibly associated with the bouyant economic period that was sustained through the 90s and much of the 2000s.
Despite what is now acknowledged as a slowdown well in advance of the economic collapse of 2008, the Tiger tag was still applied to the Irish economy before it went south six years ago.
After leaving Morgan Stanley, Gardiner worked with HSBC as Global Head of Equity Strategy, as well as several other investment banks and at the Bank of England.
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The Celtic Tiger?
The Celtic Ponzi Scheme Creature more like.
A very special Ponzi Scheme where the heinous culprits/villians get rewards, protection and media immunity as their victims are screwed to death.
Exactly. I said the same thing to my Business Studies teacher and to my ‘European Studies’ teacher in transition year. They looked at me like I had just told them I had broke into their houses and pissed on their kids.
That is the most embarassing phrase in the irish lexicon, and of course there will be some rubbish about a Phoenix or a Celtic tiger revival in the near future. Anything to make us feel good about ourselves
It’s was the best thing that ever happened to this country 50 years of progress in 10 to spite all it’s faults roll on the Celtic phoenix coming quicker than ye think
And now it’s in its way back and everyone is getting greedy again…. House prices rents and costs in general have increased. …. what have we learned ???????, nothing it seems !!
We now have the “Austerity Tiger” tearing the lives of Irish Families apart!
Our elected politicians destroyed Ireland and its people.
Each man women and child has a debt of €100,000 each due to a Government decree whereby ” unsecured Bondholders” mainly German Banks lent money to Irish Banks for commercial gain.
Merkel forced Fianna Fáil to transfer the unsecured Bondholders to the Irish a Taxpayers . We therefore repaid German Banks in full!
Germany makes a surplus of €41billion PA from the rest of Europe while the rest of Europe has an annual deficit of €37 Billion!
Germany now owns Ireland and Irish Citizens are suffering from austerity even poverty!
The Government should have left the Euro and devalued hence boosting exports and creating many new jobs!
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