Eurozone debt climbs to 88.8% of GDP, Italy near Greece’s level

Eurozone government debt climbed to 88.8% of GDP in the second quarter of 2026, up from 87.3% a year earlier, according to Euronews. The figure covers 21 euro‑zone countries and is based on Eurostat data. The debt level is above the EU’s 60% ceiling and reflects a long‑term trend since the pandemic.

Italy’s debt ratio is 139.9% of GDP, according to Euronews. Greece’s ratio is 140.8% of GDP, making Greece the most indebted EU country. Italy’s ratio has risen by 1.3 percentage points in the second quarter, while Greece’s has fallen by 11.2 percentage points, according to Euronews.

France’s debt ratio is 119.1% of GDP, according to Euronews. The 10‑year bond yield rose above 5% for the first time in 24 years, according to The Guardian and Le Monde. The rise in yield is linked to political uncertainty and a failure to pass a budget, according to The Guardian.

EU government debt was 81.5% of GDP in 2025, according to Euronews. The EU’s budget deficit was 3.1% of GDP, slightly above the 3% limit, according to Euronews. The debt level has stayed above 80% of GDP since 2020, according to Euronews.

Political unrest in France has intensified, according to The Guardian. Violent street protests and riots have occurred in several towns, and the government has not yet passed its 2027 budget. The unrest has contributed to higher borrowing costs for France, according to The Guardian.