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Monday, July 22, 2013

Eurozone debt up to 92.2 per cent



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Eurozone debt rose to 92.2 per cent in the first quarter of 2013. The debt equals to €8 750 131 million.


On 22 July, Eurostat announced the Eurozone debt data for the first quarter of 2013. The EU debt also increased, compared with the fourth quarter of 2012, from 85.2 per cent to 85.9 per cent. Eurozone debt in the fourth quarter of 2012, was at 90.6 per cent.


At the end of the first quarter of 2013, securities other than shares accounted for 77.1 per cent of euro area and for 79 per cent of EU27 general government debt. Loans made up 18.4 per cent and 15.9 per cent respectively of government debt. Currency and deposits represented 2.7 per cent of euro area and 3.6 per cent of EU27 government debt.


Compared with the fourth quarter of 2012, twenty-one Member States registered an increase in their debt to GDP ratio at the end of the first quarter of 2013, and six a decrease. The highest increase in the ratio was recorded in Ireland. The Member State which is under a bailout programme, recorded a +7.7 percentage points increase. Belgium (+4.7 pp) and Spain (+4.0 pp) followed while the largest decreases were recorded in Latvia (-1.5 pp), Denmark (-0.8 pp) and Germany (-0.7 pp).


Compared with the first quarter of 2012, twenty-four Member States registered an increase in their debt to GDP ratio at the end of the first quarter of 2013, and three a decrease. The highest increase in the ratio was also recorded in a Eurozone Member State which is under a bailout programme. The Greek debt increased by +24.1 pp while Ireland (+18.3 pp), Spain (+15.2 pp), Portugal (+14.9 pp) and Cyprus (+12.6 pp) followed. The decreases were recorded in Latvia (-5.1 pp), Lithuania (-1.9 pp) and Denmark (-0.2 pp).







READ THE ORIGINAL POST AT www.neurope.eu