The Eurostat office published the first notification with a Government debt at 85.1% and 80.0%. In 2010, the government deficit of both the euro area (EA17) and the EU27 decreased compared with 2009, while the government debt and GDP increased. In the euro area the government deficit to GDP ratio decreased from 6.3% in 2009 to 6.0% in 2010, and in the EU27 from 6.8% to 6.4%. In the euro area the government debt to GDP ratio increased from 79.3% at the end of 2009 to 85.1% at the end of 2010, and in the EU27 from 74.4% to 80.0%.

Eurostat provides government deficit and debt data based on figures reported in the first 2011 notification by EU Member States for the years 2007-2010, for the application of the excessive deficit procedure (EDP). This notification is based on the ESA95 system of national accounts. The report also includes data on government expenditure and revenue and an annex with the main revisions since the November 2010. However, Eurostat is expressing a reservation on the quality of the data reported by Romania and by United Kingdom. In addition, United Kingdom has amended the deficit data notified for the years 2007 to 2010 for consistency of recording of UMTS licences proceeds in 2000.

In 2010 the largest government deficits in percentage of GDP were recorded in Ireland (-32.4%) and Greece (-10.5%). The lowest deficits were in Luxembourg (-1.7%) and Finland (-2.5%). In all, 21 Member States recorded an improvement in their government balance relative to GDP in 2010 compared with 2009 and six a worsening. With regard to the government debt to GD, at the end of 2010, the lowest ratios were recorded in Estonia (6.6%) and Bulgaria (16.2%).

The consequences of the banking crisis have been confronted by a number of governments with the necessity of dealing with impaired assets. In some cases this has led to the establishment of specific public financial defeasance structures, with significant support of government. This was particularly the case for Denmark, Germany, Ireland, Latvia, Austria, Portugal, and the United Kingdom.