Maastricht debt level for 2010: €2.08 trillion, or 83.2% of GDP

According to provisional calculations, the debt of general government in Germany (central, state and local government and social security funds including the off-budget entities) as defined in the Maastricht Treaty amounted to approximately €2.080 trillion, or 83.2% of gross domestic product, at the end of 2010. The debt level thus increased by €319 billion on the year and the debt ratio by almost 10 percentage points.

This sharp rise in debt reflects extensive measures to stabilise the financial market of €241 billion chiefly in connection with the FMS Wertmanagement resolution agency (HRE) and the First Winding-Up Agency (WestLB). According to the current provisional figures, the cumulative impact of financial market support measures on the debt level since 2008 amounts to €335 billion, or 13.4% of GDP. Growth in debt contrasts with the assumption of extensive risk assets. Assuming the assets can be realised over time, this will result in a decline in the future debt level.

Under the European budgetary surveillance procedure, the member states of the European Union are obliged to submit data on their general government deficit and debt levels to the European Commission twice a year (end of March and end of September). For this purpose, the Federal Statistical Office calculates the Maastricht deficit (€82 billion, or 3.3% of GDP in 2010) while the Bundesbank calculates the Maastricht debt level.


Table Debt level
Debt level (€ billion )1,4541,5241,5721,5791,6441,7612,080
as a percentage of GDP65.868.067.664.966.373.583.2