Ian Bremmer's Quick Take: Queen Elizabeth II, the longest serving monarch in UK history and virtually in world history, is no longer with us. Queen Elizabeth has reigned under 15 prime ministers, starting with Churchill. And in this time, the United Kingdom went from global power and industrial powerhouse to a post-European middle power. She's lived through and reigned through the legacy of colonialism, the end of British Empire, and now of course the end of the UK in Europe. The death of the Queen and her succession will dominate the news, certainly across the UK and the Commonwealth for some time. It's going to overshadow the arrival of Liz Truss as prime minister and all of her major economic announcements.

There's a lot to say here. Queen Elizabeth has long been seen as the single most popular figure in Britain, and her death will undoubtedly be received with enormous sadness by a public that's been battered by two years of COVID crisis, on top of shambolic Brexit process, massive domestic political scandals, independence movements, particularly in Scotland. And on top of that, now an enormous cost of living crisis that's worse than any other G7 economy. So, it's not hit the UK at an opportune time at all. And the impact of her death really on the public mood should not be underestimated, given that the Queen has long been seen as a beacon of stability in the United Kingdom in an uncertain and very volatile world.