Lyric discussion by butterfingersbeck 

"neurotic chick" is quite right - the song was re-recorded with the above lyrics after the German version was shown on British TV and became a surprise hit. As "Rodman1977" correctly pointed out, it IS a bad translation (as far as being a literal translation of the German lyric is concerned), but it's what British pop fans in the 1980s heard, know and continue to interpret. Several of my friends at the time commented on how significant it was that they were RED balloons (= the perceived Communist threat). I pointed out that the original song said nothing about their colour and that the word "red" had probably been simply added to make the lyrics scan (German "Luftballon" = English "balloon"). That deflated them.

@butterfingersbeck "that deflated them" I see what you did there. Balloons...deflated. Well played.

An error occured.