{"id":55918,"date":"2026-05-11T17:00:00","date_gmt":"2026-05-11T15:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=55918"},"modified":"2026-05-06T08:31:14","modified_gmt":"2026-05-06T06:31:14","slug":"crisis-control-perfect-storm","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/crisis-control-perfect-storm\/","title":{"rendered":"Crisis and control: the perfect storm"},"content":{"rendered":"
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Europe could once again be talking about food rationing. This is not an alarmist headline: it is a direct warning from the heart of the financial system. The question is not only whether it will happen, but what this scenario really implies. Above all, what it says about the fragility of the current economic model and our dependence on factors we do not control. And, even more importantly, what consequences it may have for the daily lives of millions of European citizens.<\/b><\/h3>\n

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When Christine Lagarde speaks, markets listen. But this time the message goes beyond monetary policy. The President of the European Central Bank <\/span>has opened the door to extreme measures such as food rationing if geopolitical and energy tensions persist<\/b>. It is not the central scenario, but nor can it be ruled out in an increasingly volatile context.<\/span><\/p>\n

To understand the scope of the warning, we need to look at the global context: an economy still wounded by the pandemic, strained by the war in Ukraine and subject to persistent inflation. Now, the focus is shifting towards the Middle East and critical points such as the Strait of Hormuz. If this key route is disrupted, <\/span>the world could lose up to 13% of its daily oil supply<\/b>, with an impact that would go far beyond fuel and end up affecting the entire economic chain.<\/span><\/p>\n

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Energy, scarcity and control: the return of an old ghost<\/b><\/h3>\n

Energy is the circulatory system of the economy. When it fails, everything is affected. It is not only a matter of fuel or electricity: <\/span>it is the root of all productive activity<\/b>. When energy costs rise, everything that depends on them becomes more expensive, from industry to the most basic services.<\/span><\/p>\n

More expensive fertilizers. More expensive transport. More expensive production. The result is inevitable: more expensive food. We have already experienced this recently. After COVID and the war in Ukraine, the cost of living soared while wages lagged behind, <\/span>causing a sustained loss of purchasing power<\/b>. And that was in a scenario without extreme supply disruptions.<\/span><\/p>\n

The problem is that this time it could go further. We are not only talking about inflation, but <\/span>about possible physical interruptions in supply chains<\/b>. When there are not enough resources for everyone, the logic of the market gives way to the political management of scarcity. And it is at this point that rationing ceases to be a memory of the past and becomes a real option.<\/span><\/p>\n

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CBDCs: the piece that fits too well<\/b><\/h3>\n

In parallel with these warnings, central banks are accelerating the rollout of <\/span>digital currencies <\/span><\/a>\u2014CBDCs\u2014. On paper, <\/span>they are presented as a natural evolution of the financial system<\/b>: more efficient, faster and with lower transaction costs. A logical adaptation to an increasingly digitalized economy.<\/span><\/p>\n

But this innovation incorporates a differentiating element that cannot be ignored: control. As has been analyzed at 11Onze in several articles, <\/span>CBDC<\/span><\/a>s allow full traceability of transactions and open the door to mechanisms of direct supervision over citizens. It is not only a new way to pay, but a <\/span>tool that could redefine the relationship between the State and money<\/b>.<\/span><\/p>\n

Unlike cash, <\/span>these currencies<\/b> could:<\/span><\/p>\n