eral government gross debt in EU Member States and interest payments 1995 to 2023

General government gross debt in EU Member States and interest payments, 1995 to 2023, as a % of GDP

General government gross debt in EU Member States and interest payments, 1995 to 2023, as a % of GDP

Other proposals, for instance from the European Fiscal Board, take into account the countries’ different starting positions in their debt levels and propose country-specific paths for debt reduction. The European Stability Mechanism, on the other hand, proposes to increase the debt ceiling to 100 % since the current 60 % public debt-to-GDP ratio is no longer relevant. Indeed, while gross government debt to GDP ratios have increased since the 2008-2009 financial crisis, overall debt servicing costs have been declining steadily since the mid 90s (Figure 27).


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