Sorry, Guest, but I haven't been on Mudcat for some time. Here's your translation:
"
Oh Scotland hasn't got a Queen, and it hasn't got a King
How can you have a second Elizabeth when the first one hasn't been?
No Elizabeth the one, no Elizabeth the two, no Elizabeth will ever do.
We'll make our land republican in a Scottish breakaway.

Her husband is called the Duke of Edinburgh, he's one of those kilted Greeks (Greeks wearing kilts)
But do not blow his kilt away as it's Elizabeth who wears the trousers.
He's a handsome man, and he looks like Don Juan
Beloved by the weaker sex
But it doesn't really matter a damn because Elizabeth signs the cheques.

Now her sister Margaret has a lovely pair of legs but she didn't want a German or a Greek,
Poor old Peter (Townsend) was her choice but he didn't suit the boys (the people in charge)
So they sold him up the creek (betrayed and didn't let them marry)

But Meg was devious and beat them with Anthony Armstrong-Jones (name with a hyphen) ding dong! (Doesn't mean anything, just a noise from the chorus)
But behind the pomp and play, the question of the day was who was Suzie Wong? Yum yum ( just chorus noises suggesting happiness?)
(Anthony Armstrong-Jones was having an affair with Suzie Wong, an actress)

So here's to the Lion, the lovely rampant lion (the Scottish heraldic flag)
And a long stretch to its paw.
We'll give a Hampden roar (referring to the noise made at a famous Scottish football stadium ) and it's out the door (we're leaving)
Goodbye to Prince Charle's mother (Queen Elizabeth)

Hope this helps, regards, Jim