That’s normally the story, but probably not the case when you can’t make stuff overnight or move it because energy is too expensive (just for you). You can’t a

That’s normally the story, but probably not the case when you can’t make stuff overnight or move it because energy is too expensive (just for you). You can’t afford to import the stuff you were making because your currency slid 25% which further breaks supply chains fueling more inflation. Inflation goes up with no levers to pull to slow it down (moderate interest rates will send Southern European over the edge). At the same time, central budgets have to get reallocated to just keep citizens alive through winter.