The Weimar Republic said that too.
“...But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: “If you don’t work you die.”...”
Rudyard Kipling, “The Gods of the Copybook Headings” January 1920
Technically, Weimar never went bankrupt, but a wheelbarrow full of Deutschmark was not accepted in payment of Versailles reparations or a kilo of Swiss chocolate.