European debt stable, but Italy's reaches record high

Italian national debt stands at 127.3% in relation to GDP

23 January, 12:11

(ANSAmed) - BRUSSELS, JANUARY 23 - European debt levels were largely stable in the third quarter of 2012, but in Italy the national debt reached a record high of 127.3% in relation to gross domestic product (GDP), Eurostat said on Wednesday.

The European Union statistics office added that this meant Italy had the second-highest debt-to-GDP ratio after Greece (152.6%).

Earlier this month the Bank of Italy said that Italy's public debt reached a new record of 2.020668 trillion euros in November.

Eurostat said the government-debt-to-GDP ratio of the eurozone was 90.0% in the third quarter of 2012, compared with 89.9% at the end of the previous quarter. The ratio was 85.1% for the 27-member European Union as a whole, compared to 85.0% for the April-June period. Compared with the third quarter of 2011, the government debt-to-GDP ratio rose in the eurozone from 86.8% to 90.0%, and from 81.5% to 85.1% in the EU as a whole.(ANSAmed).

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