The fallout from the U.S.-Israel war in Iran is already rippling through global markets. But the worst may still lie ahead for Europe. As oil and gas supplies tighten and prices spike, the shock is seeping into every corner of the economy, from manufacturing to borrowing costs to demand shifts. Against this gloomy backdrop, how can policymakers contain the damage to avoid a deeper economic impact? And beyond the short term, what will this energy shock mean for Europe’s households and its