This is one of my twin uncles... other one passed out month ago... they were identical twins so when one would need to go to restroom suddenly another would feel the same need... they were hell of fun guys to hang out with, and they sang indenticaly same.
When they would sing in tawern, I'd make chaos. God, those times. It's like watching and listening to other one. :'( Rest in peace my good old friend.
The song is "I'd give this little bit of life." originaly performed by Milanče Radosavljević. I used to drink at many cold nights to this song.
Also, the song is about singer, who is singing about how life was good when he was young, and about his love from that era. He says how he'd give "This this little bit of life" that he remained with, to get back in those times.