Eurostat publishes for the first time the quarterly data on government debt. According to the figures, at the end of the third quarter of 2011, the government debt to GDP ratio in the euro area stood at 87.4%, down compared with 87.7% at the end of the second quarter of 2011. In the EU the ratio increased from 81.7% to 82.2%. Compared with the third quarter of 2010, the government debt to GDP ratio rose in both the euro area (from 83.2% to 87.4%) and the EU (from 78.5% to 82.2%).

The figures published by Eurostat, the statistical office of the European Union, on quaterly data on government debt with a new euroindicator, show that Euro area government debt down to 87.4% of GDP and the EU was up to 82.2%. In addition, at the end of the third quarter of 2011, securities other than shares accounted for 79.3% of euro area and 79.7% of EU general government debt. Loans made up 18.0% of euro area and 15.8% of EU government debt. Currency and deposits represented 2.8% of euro area and 3.8% of EU government debt.

With regard to the data registered by Member State, the highest ratios of government debt to GDP at the end of the third quarter of 2011 were recorded in Greece (159.1%), Italy (119.6%), Portugal (110.1%) and Ireland (104.9%), and the lowest in Estonia (6.1%), Bulgaria (15.0%) and Luxembourg (18.5%). Furthermore, the highest increases in the ratio were recorded in Hungary (+4.8 percentage points - pp), Greece (+4.4 pp) and Portugal (+3.6 pp), and the largest decreases in Italy and Malta (both -1.6 pp) and Romania (-1.0 pp). On the other hand, compared with the third quarter of 2010, the highest increases in the ratio were recorded in Greece (+20.3 pp), Portugal (+18.9 pp) and Ireland (+16.5 pp), and the largest decreases in Sweden (-1.6 pp), Luxembourg (-1.4 pp) and Bulgaria (-0.9 pp).

The new euroindicator complements the annual data already published in the twice yearly Excessive Deficit Procedure notifications by providing a more short term trend in government debt for the euro area and the EU as well as for the Member States. This new quarterly euro-indicator will be issued around four months after the end of the quarter of reference.