Eurostat published data for the third quarter of 2013
On Wednesday, January 22, the European statistical agency published data on public debt in the third quarter of 2013. Thus, compared with the second quarter, total debt declined to 86.8% in the EU and to 92.7% in the euro currency zone.
The national debt of the euro zone declined for the first time since 2007 and amounted to 8.842 trillion euro (92.7% of GDP). Almost 86% of the total debt accounts for bonds and treasury bills, borrowings, deposits and inter credits required for the release of the financial crisis.
Europe's largest economy recorded a fall in public debt. In Germany, this figure fell to 78.4 % of GDP in France to 92.7 %. Italy, the third largest country in the EU debt, reduced its debt from 133.3 % to 132.9 %.
On the contrary, the debt of Greece, which is on the verge of bankruptcy, increased from 186.8 % to 171.8 %. Spanish debt grew to 93.4 % compared to 92.2 % in the second quarter of last year.
Despite the reduction of public debt in most euro-area countries, the rate is still significantly higher than the maximum of 60% of total production.
