Ian Bremmer's Quick Take: Hi, everybody. Ian Bremmer here and right from the Bank of England, where we are looking at the beginning of a new Cold War between the United States, NATO, Europe, and Russia. It has indeed been an extraordinary momentous 24 hours. The Russians have decided they are going ahead to recognize the independence of the breakaway Ukrainian territories in the Donbas, sending in troops. Certainly, expected given where the Douma was heading and the statements from Putin over the last week. But nonetheless, this means diplomacy has failed between the United States, its allies and the Russians. It means sanctions are coming on to the Russians and the Russians are likely to respond and retaliate.