Euro zone debt jumps to 90 pct/GDP in Q2 -Eurostat

Wed Oct 24, 2012 5:17am EDT

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By Jan Strupczewski
    BRUSSELS, Oct 24 (Reuters) - Euro zone government debt rose to 90 percent of
the single currency area's gross domestic product in the second quarter of 2012
from 88.2 percent in the first three months, data from the European Union's
Statistics Office showed on Wednesday.
    The most indebted euro zone country, relative to its economic output, was
Greece, which in the second quarter had a public debt of 300.807 billion euros,
or 150.3 percent of its GDP. That was down from 158.8 percent of GDP or 340.906
billion euros a year earlier.
    Greek debt fell to 136.9 percent of GDP, or 280.423 billion euros in the
first quarter, after a restructuring of privately held debt, but then grew again
as a result of new loans from the euro zone to keep Athens from bankruptcy.
    Eurostat said loans from euro zone governments to Greece, extended under the
first bailout programme, totalled 1.6 percent of euro zone GDP in the second
quarter.

                                            Q2 2011    Q1 2012     Q2 2012
 EA17                                                                     
 Government debt         (million euro)   8 127 324  8 341 920   8 517 187
                             (% of GDP)        87.1       88.2        90.0
 Of which: Currency      (million euro)     227 358    235 810     234 140
 and deposits                                                   
                      (% of total debt)         2.8        2.8         2.8
                         (million euro)   6 504 081  6 609 985   6 695 342
 Securities other                                               
 than shares                                                    
                      (% of total debt)        80.0       79.2        78.6
                         (million euro)   1 395 885  1 496 126   1 587 705
 Loans                                                          
                      (% of total debt)        17.2       17.9        18.6
 Memo:                   (million euro)      50 000    110 026     155 866
 Intergovernmental                                              
 lending in the                                                 
 context of the                                                 
 financial crisis                                               
          (% of GDP)                            0.5        1.2         1.6
 EU27                                                                     
 Government debt         (million euro)  10 164 783     10 600  10 840 198
                                                           837  
                             (% of GDP)        81.4       83.5        84.9
 Of which: Currency      (million euro)     384 271    412 043     405 285
 and deposits                                                   
                      (% of total debt)         3.8        3.9         3.7
                         (million euro)   8 227 631  8 529 369   8 684 946
 Securities other                                               
 than shares                                                    
                      (% of total debt)        80.9       80.5        80.1
                         (million euro)   1 552 880  1 659 426   1 749 977
 Loans                                                          
                      (% of total debt)        15.3       15.7        16.1
 Memo:                   (million euro)      50 000    112 476     158 005
 Intergovernmental                                              
 lending in the                                                 
 context of the                                                 
 financial crisis                                               
                             (% of GDP)         0.4        0.9         1.2
    Source: Eurostat

 (Reporting By Jan Strupczewski; editing by Rex Merrifield)
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