25th October 2012

European government debt goes up again

According to the newest set of data released by the Eurostat, the government debt to GDP ratio in the euro area amounted to 90.0% in the second quarter of 2012, compared with 88.2% at the end of the first quarter of 2012. In the EU27 the ratio rose from 83.5% to 84.9%. Compared with the second quarter of 2011, the ratio increased in both the euro area (from 87.1% to 90.0%) and the EU27 (from 81.4% to 84.9%).

The highest ratios of government debt to GDP at the end of the second quarter of 2012 were recorded in Greece (150.3%), Italy (126.1%), Portugal (117.5%) and Ireland (111.5%), and the lowest in Estonia (7.3%), Bulgaria (16.5%) and Luxembourg (20.9%).

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Members of the American Chamber of Commerce in the Czech Republic