Lyric discussion by Anacharis 

'S about an Irish nationalist and anti-fascist looking back on his life, and about Gaelic Self-destruction, as said above, and about Irish Folklore. Specifically, it sounds like the Narrator was involved in the Spanish Civil War- John McCormack and Richard Tauber were famous tenors of that era, and Frank Ryan was an IRA member who led Irish Volunteers against Franco's Nazi-backed Fascists- the 'fucking blackshirts' who ran the death-trains; it sounds like the narrator was a member of Ryan's International Brigade, 'Connolly's Column'. After the war, the narrator descends into Alcoholism (the second verse describes a single drunken rampage in London, while he's pretty much gone in the bridge), and dies a classic Gaelic death- drunken, furious, passionate to the last- Cloughprior, in this case, refers to a cemetary in County Tipperary. At the same time, the narrator's life parallels that of the doomed Irish Hero Cúchulainn. A great warrior, he was said to fly into unquenchable rages in battle, and who, when his strength was finally sapped, tied himself to a rock to face his enemies, in order to die on his feet- an echo of the narrator's defiant love of liberty to the end.

As a side note, Cúchulainn was decapitated after his death- "But you'll stick your head back out and shout 'we'll have another round'" takes on a slightly different meaning with that in mind

I've been listening to this song for years, but never really knew what it was about. Thanks for your insights!

@Anacharis yes, but also there is the actual story serglige con culain - the sickbed of cuchulainn which the pogues directly titled the song for.

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