Greece Holds Highest Eurozone Debt
Today, official eurozone public debt data revealed that public debt increased to 93.9% of economic output in 2014’s first quarter, as reported by Kathimerini.
9.055 trillion euros has been determined as the figure for government debt, concerning the 18 nations that use the euro currency, while last year’s last quarter held 8.905 trillion euros, according to Eurostat. The European Commission has predicted that the debt will peak at 96% of GDP in 2014 and will later decrease to 95.4% next year.
Loans hold 17.9% of debt, while almost 80% of eurozone debt is made up of treasury bills and bonds. Currently, Greece is the eurozone’s highest indebted state, with 174.1% of GDP making up its sovereign debt. Italy ranks second, with a GDP debt of 135.6%. Luxembourg and Germany were the only nations that experienced a decrease in debt.
Related items
-
State Department: The US is in constant contact with Greece and Ukraine - Blinken expresses gratitude
-
Deputy US Special Climate Envoy: We support Greece’s role in diversifying energy sources with its Balkan neighbors
-
Mytilineos becoming the largest bauxite producer in the European Union
-
Greece: Gateway for Indian agricultural products to the EU
-
IMF: Recommendation to Greece to restrain salaries and pensions