"Comhaltas" is short for "Comhaltas Ceoltoirí Eireann" - which roughly translates as "Irish Musicians Collective". It is not a union in any sense.

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Its role in maintaining the tradition since its foundation is considerable, if not without controversy.

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P.S. Pronunciation is (very) roughly cole-tus kiol - toree air-un! First syllable stressed in each word. Generally referred to just by the first word.