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National debt in the member states of the European Union in the 3rd quarter 2014 (in billion euros)

This statistic shows the national debt in the member states of the European Union in the third quarter of 2014. 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 third quarter of 2014, Greece's national debt amounted to about 315.51 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
Germany 2,155.23
Italy 2,134.01
France 2,031.49
United Kingdom 2,004.66
Spain 1,020.24
Netherlands 448.89
Belgium 432.81
Greece 315.51
Austria 264.53
Portugal 228.36
Ireland 208.19
Poland 199
Sweden 165.06
Denmark 120.29
Finland 117.89
Hungary 80.88
Czech Republic 67.5
Romania 57.33
Slovakia 41.37
Croatia 33.51
Slovenia 28.93
Cyprus 18.43
Lithuania 13.81
Luxembourg 10.68
Bulgaria 9.89
Latvia 9.63
Malta 5.63
Estonia 2.02
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