European finances still in bad shape, statistics show

EUObserver reported that EU countries in 2011 managed to reduce their deficits, but they accumulated more debt compared to the previous year, Eurostat said on 23 April 2012.

Overall government deficit in the EU stood at 4.5 percent of the gross domestic product, down from 6.5 percent in 2010, while in the eurozone the drop was from 6.2 to 4.1 percent in 2011.

• Primary Source

European Commission: RAPID: Press Release: STAT/12/62: Provision of deficit and debt data for 2011 - first notification Euro area and EU27 government deficit at 4.1% and 4.5% of GDP respectively Government debt at 87.2% and 82.5% http://europa.eu/rapid/pressReleasesAction.do?reference=STAT/12/62&format=PDF&aged=0&language=EN&guiLanguage=en

RTÉ News, 23.4.12: Ireland had highest deficit in EU last year http://www.rte.ie/news/2012/0423/banks-contribute-to-higher-deficit-for-2011.html

ACTmedia, 23.4.12: Eurostat:Romania's budget deficit drops from 9pct of GDP in 2009 to 5.2pct of GDP in 2011 http://actmedia.eu/daily/eurostat-romania-s-budget-deficit-drops-from-9pct-of-gdp-in-2009-to-5.2pct-of-gdp-in-2011/39615

Deutsche Welle, 23.4.12: Eurozone debt soars, but fresh borrowing decreases http://www.dw.de/dw/article/0,,15904578,00.html

---