So why would the Queen hold an audience with Mervyn King for the first time ever since she came to the throne 57 years ago? Does Mervyn have some gilty confessions to make?
Here’s our suggestion:
Queen: It has come to our attention Governor King, that one’s coinage of the realm is under pressure. Might I remind you, defacing the currency used to be considered treason in the days of Henry VIII. Any defacement would be terribly distressing for one such as myself.
King: Ma’am, I do believe you mean debasement – an entirely different matter. As for ‘de-face’-ment, ma’am needn’t worry – the euro zone will never have us.
Other suggestions duly welcome.