Fourteen out of 27 countries in the European Union had public debt exceeding 60% of their gross domestic product at the end of 2010, according to official statistics.
The report by Eurostat, the statistical office of the European Union, showed that the ratio of government debt to GDP across all 27 member states increased from 74.4% in 2009 to 80.0% in 2010.
For the 17 euro zone countries, the debt is even higher, increasing from 79.3% in 2009 to 85.1% last year.
Topping the European debt league is Greece with 142.8% government debt to GDP ratio, followed by Italy (119.0%), Belgium (96.8%) Ireland (96.2%), Portugal (93.0%), Germany (83.2%), France (81.7%) Hungary (80.2%) and the United Kingdom (80.0%).
The lowest government debt to GDP ratios were recorded in Estonia (6.6%), Bulgaria (16.2%) and Luxembourg (18.4%), according to the Eurostat report.
Under the Stability and growth pact, agreed when the euro began in 1999, member states are supposed to ensure their debt does not exceed 60% of their GDP.
Source;
http://edition.cnn.com/2011/BUSINESS/06/19/europe.debt.explainer/index.html
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