National debt in the member states of the European Union in the 1st quarter 2015 (in billion euros)

This statistic shows the national debt in the member states of the European Union in the first quarter of 2015. 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 2015, Greece's national debt amounted to about 301.53 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.

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 National debt in billion euros
United Kingdom 2,199.95
Italy 2,184.49
Germany 2,175.89
France 2,089.36
Spain 1,046.19
Netherlands 458.82
Belgium 447.84
Greece 301.53
Austria 280.25
Portugal 225.92
Poland 216.8
Ireland 203.62
Sweden 187.63
Finland 123.79
Denmark 115.14
Hungary 83.41
Czech Republic 66.4
Romania 58.92
Slovakia 40.9
Croatia 37.73
Slovenia 30.75
Cyprus 18.7
Lithuania 13.88
Bulgaria 12.54
Luxembourg 10.86
Latvia 8.46
Malta 5.64
Estonia 2.05
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