Greece Holds Highest Eurozone Debt
- Written by Maria Athens
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.
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