Quick Read
- Euro area government debt is 99.5% denominated in euro.
- Romania and Bulgaria show the highest share of foreign currency debt.
- 41,000 youth will receive travel passes via DiscoverEU.
Euro Area Debt Remains Highly Stable
New data from Eurostat, published on June 8, 2026, confirms that the general government gross debt of the euro area remains overwhelmingly denominated in euro. As of the end of 2025, more than 99.5% of the debt held by EA20 members was denominated in the common currency, insulating the bloc from significant exchange rate volatility.
While non-euro area EU members show greater variety, the trend remains consistent. In countries like Czechia and Sweden, over 90% of government debt is held in national currencies. Conversely, Bulgaria and Romania remain the only two EU nations where foreign currency debt exceeds 50% of the total, though the vast majority of that debt remains euro-denominated.
Apparent Debt Costs Shift
The cost of servicing this debt saw modest adjustments between 2024 and 2025. Romania reported the highest apparent cost of debt at 5.2%, followed by Poland at 4.5%. Ireland and Luxembourg maintained the lowest servicing costs at 1.4% and 1.5% respectively. Seven countries, including Estonia and Sweden, saw a decrease in their apparent cost of debt during the last year.
DiscoverEU Connects 41,000 Youth
In a move to foster European integration among the youth, the European Commission revealed the results of the March 2026 DiscoverEU application round. A total of 40,912 young people aged 18 will receive travel passes to explore the continent between July 2026 and September 2027.
Commissioner for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef, described the passes as an invitation to experience European cultural heritage firsthand. With over 220,500 applicants competing for the spots, the initiative continues to be a high-demand program, having engaged over 2 million applicants since its inception in 2018.