Eurozone debt rises sharply: Eurostat

BRUSSELS, July 22 (AFP): Eurozean public debt -- the accumulated total of government budget deficits and borrowing -- rose sharply earlier this year, reversing a downtrend when the economic crisis eased, official figures showed on Tuesday.

The 28 European Union states are supposed to keep total public debt below the equivalent of 60 per cent of annual economic output, while annual budget deficits must not exceed 3.0 per cent.

For years however these limits have been breached and total debt increased sharply during the crisis as governments borrowed even more to bolster their economies.