How much does cyprus owe

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Please log in to access our additional functions. Yes, let me download! Exclusive Corporate feature. Corporate Account. Statista Accounts: Access All Statistics. Maastricht government debt has followed an upward trend following the financial crisis. From a high point at the end of During , the downward trend was sharply reversed.

Up to the end of , EU general government gross debt increased to Between the end of and the end of , the general government gross debt to GDP ratio increased in the EU from At the level of the EU and euro area, the increases represent the sharpest increases observed in the time series since , as well as the highest level of general government gross debt as a percentage of GDP recorded.

The lowest debt to GDP ratio was registered by Estonia at According to ESA , the general government sector S. Figure 2 gives an overview of the subsector breakdown, as a percentage of total debt for all subsectors, i. For 24 of the 27 EU Member States, the central government represented more than The share of local government debt non-consolidated between subsectors was at In Sweden, the share of local government debt was Local government debt also played an important role in Denmark In Germany State government as a subsector of general government exists only in four Member States, namely Belgium, Germany, Spain and Austria.

The debt share of state government was Only two countries had somewhat higher ratios of debt for social security funds: France 9. The general government debt has to be consolidated within each subsector and between subsectors at the level of general government. This implies that the debt issued by one subsector and held by another one should be excluded from the general government debt. When debt of one subsector of general government is held by another subsector, general government gross debt is then lower than the sum of subsector gross debt.

Table 1 illustrates this effect in percentage of total non-consolidated debt consolidated within subsectors but not between. A significant consolidation effect was observed in Cyprus Significant consolidation effects are often due to central government liabilities in deposits held by local government and social security funds, for example in Estonia, Latvia and Cyprus.

The level of consolidation tends to be influenced by the growing prevalence of cash pooling arrangements. The Maastricht debt is divided into the following categories according to the ESA classification:.

The breakdown of debt by financial instrument is presented in Figure 3. For the EU, For the EA, For 25 of the 27 EU Member States, the most used debt instrument remained debt securities at the end of ; ranging from a share of Greece and Estonia as well as Norway registered high shares of loans, with loans making up a share of Significant loan to total debt ratios were also recorded for Cyprus The countries reporting a higher share of loans tended to be those either having a relatively low level of general government gross debt e.

Estonia , a relatively high share of debt of subcentral sectors of government e. Greece and Cyprus. In contrast, currency and deposits accounted for Gross debt represents only the financial liabilities debt securities, loans and deposits of central and local government, while net debt deducts any liquid assets official reserve assets and other cash or cash-like assets from these financial liabilities.

Public sector finances, UK: May Bulletin Released 22 June How the relationship between UK public sector monthly income and expenditure leads to changes in deficit and debt.

Public sector finances borrowing by sub-sector Dataset Released 22 June Public sector finances analytical tables PSAT showing transactions related to borrowing by sub-sector. Recent and upcoming changes to public sector finance statistics articles Article Released 22 June Areas for future development in the public sector finance statistics. The debt and deficit of the UK public sector explained Article Released 16 March A detailed explanation of the debt and deficit of the UK public sector.

Eurostat Government Finance Statistics — quarterly data: Q1 Bulletin Released July 22 The latest debt and deficit quarterly statistics of the 27 European countries which make up the European Union. Tell us whether you accept cookies We would like to use cookies to collect information about how you use ons. Accept all cookies. Set cookie preferences. Table of contents Main points Government debt Government deficit UK government debt and deficit data Glossary Measuring the data Strengths and limitations Related links.

View all data used in this Statistical bulletin. This is around two and a half times higher than that at the end of the financial year ending March , the year of the global financial crisis Figure 1: Debt as a percentage of GDP has nearly doubled since the early seventies General government gross debt as a percentage of gross domestic product GDP , UK, March to March Notes: Financial year represents the period of April to March.

Debt is recorded as at the end of March of each financial year. GDP — gross domestic product. Notes: GDP — gross domestic product. The ratio is recorded as at the end of each calendar quarter. EU 27 - Average of the 27 EU member states. Figure 4: UK debt has risen more than the EU average during the pandemic General government debt growth change in percentage points, UK and EU member states, at the end of Quarter 1 March compared with the end of Quarter 4 December EU 27 — Average of the 27 EU member states.

Debt is recorded as at the end of December of each calendar year. I'm still getting caught up on Tiger Woods dating Lindsey Von n. Where is this happening? A: Cyprus. It's an island and a member of the EU, but it's also a tax haven.

Think the Cayman Islands but in the Mediterranean. Those lax taxes have made it a popular place for rich Russians — oligarchs, businesses, and a few shady characters — to put their cash. Q: That sounds lovely. Spring Break! But seriously, it sounds like they've got plenty of cash. So, what went wrong? A: Well, the big Cypriot banks made a really bad investment. They lent money to Greece. When the Greek economy took a dive, the Cypriot banks took a bigger gamble, buying up Greek government bonds in the hopes of a bailout.

Now they're broke. The banks owe more money than they have.