Born in 2006

The economy was still booming, though cracks were beginning to appear. Construction accounted for an extraordinary 25% of GDP — a dangerous concentration. House prices had risen 300% since 1996.

Credit was cheap and abundant. Few wanted to hear warnings about what might happen if it stopped. Ireland's financial sector was expanding recklessly.

But for ordinary people, life had never been better: full employment, rising wages, cheap flights to anywhere in Europe, a country at peace. The party continued.