Exports of goods to Spain account for about 2.5% of Greek exports of goods and have increased by 29.4% in nominal terms in 2012–2016. Imports of goods from Spain account for 3.5% of Greece’s total imports of goods and have increased by about 20.9% in nominal terms in 2012–2016. The services balance with Spain is positive, albeit too small to cover the trade deficit1.
For example, a central bank digital currency could ensure that citizens remain able to use central bank money even if cash is eventually no longer used. A digital currency of this sort could take a variety of forms, the benefits and costs of which the ECB and other central banks are currently investigating, being mindful of their broader consequences on financial intermediation.