The Central limit theorem states that (under some conditions) the sample mean $y_N = \frac{1}{N} \sum_1^N X_k$ is distributed like a normal variable with mean $\mu$ and variance $\sigma^2/N$. So if I want to study the probability of deviations from the mean I get
$$P(y_N) \sim e^{-\frac{N(y_N-\mu)^2}{2\sigma^2}} \sim e^{-NI(y)}$$
where I(y) decreases when $|y_N-\mu|$ increases. Isn't this the same as a large deviations principle?
I read (in the answers to this post) that it is wrong because CLT is used to study $O(\sqrt{n})$ deviations from $N\mu$ and not $O(n)$, but studying the CLT proof I don't get why. I'd be glad if someone could point the part of the classic proof (using the characteristic function) where this restriction comes from.