National debt in EU countries 1st quarter 2019

This statistic shows the national debt in the member states of the European Union in the first quarter of 2019. The data refer to the entire state and are comprised of the debts of central government, provinces, municipalities, local authorities and social security. In the first quarter of 2019, Greece's national debt amounted to about 337.41 billion euros.

National debt in the EU member states

National or government debt is the debt owed by a central government. No country in the European Union is debt-free, although some are able to manage their debts better than others. Debt is influenced by the economic situation of a country, factors such as unemployment, the rate of inflation or the trade figures have a significant impact on its extent, and are, in turn, influenced by the national debt.

The economic crisis has hit some EU countries harder than others; Spain, Ireland and Greece especially have been struggling economically since 2008. Greece’s national debt has skyrocketed over the past few years, and the same can be said about Spain and Ireland. Other EU countries, like France and the United Kingdom have been affected as well, albeit not as severely.

The national debt of a country can be reduced by applying several measures: money can be borrowed (for example in the form of rescue packages), austerity programs can be enforced, taxes can be increased or central banks can inject liquidity into the economy through the implementation of quantitative easing policies. Some critics of the policy claim that this could lead to a higher level of inflation, which, if severe enough, could have a detrimental impact on living standards.

National debt in the member states of the European Union in the 1st quarter 2019

National debt in billion euros
France2,358.9
Italy2,358.54
United Kingdom2,121.94
Germany2,077.66
Spain1,200.26
Belgium477.13
Netherlands398.04
Greece337.41
Austria282.62
Portugal250.36
Poland245.29
Ireland215.48
Sweden169.25
Finland138.79
Denmark101.06
Hungary93.91
Czech Republic71.19
Romania69.19
Slowakia44.8
Croatia38.72
Slovenia31.58
Cyprus22
Lithuania15.63
Luxembourg12.63
Bulgaria12.01
Latvia11.15
Malta5.85
Estonia2.11
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Source

Release date

July 2019

Region

EU

Survey time period

1st quarter 2019

Supplementary notes

Values have been rounded.

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Statistics on "European Union"

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