- Hyperinflation
- Great reset
Likely effects may include
- Revolution
- War
- Famine
Here is a nice BBC article how hyperinflation has been solved in the past
https://www.bbc.com/news/business-45523636
Usually there is a period, or permanent, “dollarisation” of the economy https://en.wikipedia.org/wiki/Hyperinflation#Aftermath but not sure if this is an option for the something of the scale of the UK or the EU.
If the GBP hyperinflates, you won't need to dollarise something of the scale of today's UK. Their economy will be worth a lot less. If it lasts for long enough, Scotland, Northern Ireland and perhaps even Wales will organise different problems for themselves. There would also be a humanitarian crisis and a migration/refugee crisis to help reduce the scale. On the other hand, the dominance of English, traditional respect for UK education, and the capacity of services to be delivered remotely would encourage an early dollarisation: all sorts of law firms and programmers will be asking for salaries in the currency of the source country. So I suspect the UK would dollarise more quickly and more successfully that other similar disasters.
The eurozone is somewhat uniquely placed in the context of a hyperinflation, because there are many separate countries who would, in that context, be enthusiastic to reintroduce national currencies. Whether that staves off the problems in the whole zone or what happens I don't know, but it might break it down into bite-sized chunks.
I struggle to understand what they might have meant by it in that kind of generic use.