Out of the aeroplane stepped
Chamberlain with a condemned man's stare
But we all cheered wildly, a photograph was taken
As he waved a piece of paper in the air

Now, the disco machine lives in Munich
And we are all friends
And I slip on my Italian dancing shoes
As the evening descends

And the bells take their toll
Once again in a victory chime
And we can thank God that we've finally got
Peace in our time

There's a man going round taking names no
Matter who you claim to be
As innocent as babies, a mad dog with rabies
You're still a part of some conspiracy

Meanwhile there's a light over the ocean
Burning brighter than the sun
And a man sits alone in a bar and says
"Oh God, what have we done?"

And the bells take their toll
Once again in a victory chime
And we can thank God that we've finally got
Peace in our time

They're lighting a bonfire
Upon every hilltop in the land
Just another tiny island invaded
When he's got the whole world in his hands

And the heavyweight champion fights
In the international propaganda star wars
There's already one spaceman in the White House
What do you want another one for?

And the bells take their toll
Once again in a victory chime
And we can thank God that we've finally got
Peace in our time