Eurostat, the European Union's statistical office, reported provisional figures showing Italy's debt at 139.9% of GDP at the end of June 2026, near Greece's 140.8%, and euro area debt at 88.8%.
The 21-country euro area had about €14.44 trillion in gross government debt at the end of June. That equaled 88.8% of GDP, up from 88.4% in the first quarter and 87.3% in the second quarter of 2025. Across the EU, debt reached 82.9% of GDP, compared with 82.5% in the first quarter.
Italy's ratio rose 1.3 percentage points from the first quarter and 2.2 points over the year. Greece's fell 2.7 points from the first quarter and 11.2 points year over year.
Eurostat reported France's ratio at 119.1%, up 1.4 points on the quarter and 3.7 points over the year. France's national statistics institute, Insee, put it at 119.0%. Both releases gave a debt stock of €3,595.5 billion, but neither explained the difference in the ratios. The Eurostat figure also updates earlier EconoTimes coverage of France's debt ratio and 2027 budget.
French borrowing costs also drew attention. Reuters reported that the 10-year government bond yield reached 5% on Oct. 21, a level last seen in July 2002. Axios, citing FactSet data, reported a yield of 5.01% at 11:35 a.m. ET that day. Reuters quoted Lale Akoner, a global market strategist at eToro, saying “further losses could outweigh the income” if investors demanded a higher premium.
Eurostat's ratio compares consolidated gross government debt at each quarter's end with GDP across the latest four quarters. An EU treaty protocol uses 60% of GDP as the reference level for government debt. Eurostat marked its first- and second-quarter 2026 figures as provisional.
Eurostat's next government debt release is scheduled for Jan. 22, 2027.
