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Queen Elizabeth II broke record after record as a monarch, becoming a symbol of the country she ruled for 70 years, even as it changed beyond recognition, losing its empire and undergoing social upheaval.
Before and after Elizabeth II. When Queen Elizabeth II came to power in the United Kingdom in the 1950s, the economy was very different: it was based on the industrial sector, there were fewer inhabitants but the challenges were not far from today.
The young queen took office in the midst of a rationing crisis due to World War II with inflation of around 12%, similar to what the English are experiencing today, although from the initial point until her death, this Thursday, many events have taken place that marked the history of mankind.
The Gross Domestic Product, GDP, of the United Kingdom was around 15 million pounds sterling and the population was 50 million people. Since then the GDP has grown to two billion pounds sterling and the population to almost 70 million inhabitants.
On the throne Elizabeth witnessed a World War, the Great Recession, the oil crisis, the global financial crisis of 2008, the Covid-19 pandemic and more recently the war in Ukraine.
Now the greatest impact that experts foresee is internally, since days after his death will be marked by tributes related to the monarchy that will force the closure of businesses and the London Stock Exchange, which is among the five most important in the world.
London, now an important financial center, is far from being that economy marked by industry and international trade.
After the death of the queen the first to react was the foreign exchange market. The British pound fell in value against the dollar and the euro. During the day it lost 0.03% while the euro strengthened slightly.
But a new king on the throne is not the only change that is coming in the United Kingdom, in fact, the last public appearance of Elizabeth II was during a private audience with Liz Truss on Tuesday, September 6.
The monarch received Truss at Balmoral Castle in Scotland to confirm her as the new Prime Minister of the United Kingdom.
Truss will seek to reduce inflation, which is around 10% per year, and household energy bills, his main challenges, but he would do so by seeking to cut taxes and raise public debt, something that keeps the markets agitated.
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