Celtic Tiger
After the slowdown in 2001 and 2002, Irish economic growth began to accelerate again in late 2003 and 2004. Some of the media considered that an opportunity to document the return of the Celtic Tiger – occasionally referred to in the press as the "Celtic Tiger 2" and "Celtic Tiger Mark 2". In 2004, Irish growth was the highest, at 4.5%, of the EU-15 states, and a similar figure was forecast for 2005. Those rates contrast with growth rates of 1% to 3% for many other European economies, including France, Germany, and Italy. The pace of expansion in lending to households from 2003 to 2007 was among the highest in the euro area