In addition, it is an issue of urgent priority to take measures from a medium- to long-term perspective to respond to FinTech and other technological innovations and to changes in the external environment, such as the decline in both population and the number of firms.
While current account imbalances will diminish nevertheless, adjustment through quantities instead of prices is economically costly in terms of unemployment and underutilisation of capital. The size of costs will depend crucially on the speed with which resources can be shifted between the traded and nontraded sectors, in particular out of the oversized housing sector.