No I actually don't think that we are a laughing stock at all. I don't presume for one minute that we are taken as seriously on the global stage that many seem to fret so much about.
If there were two days off for the King & the empire and they were subsequently removed then replacing them with two different days off is simply moving the goalposts.
I believe in God, but I worked St Patricks day and didn't get paid extra for it so i'm not sure your analogy stands up.
Of course it stands up. How many people worked on Patrick's day? And how many people practise their religion?