Luxembourg Tops 7 EU States Above 85% Corporate Debt Limit at 251.1% of GDP
Updated
Updated · Euronews · Jul 15
Luxembourg Tops 7 EU States Above 85% Corporate Debt Limit at 251.1% of GDP
3 articles · Updated · Euronews · Jul 15
Summary
Seven EU countries exceeded the European Commission’s 85% of GDP corporate-debt benchmark at end-2025, led by Luxembourg at 251.1%, ahead of Denmark at 115.4% and Sweden at 108.6%.
70.1% was the EU-wide corporate-debt ratio and 71.6% in the eurozone—near 20-year lows—showing the outliers sit above a bloc-wide backdrop of relatively contained borrowing.
Luxembourg, the Netherlands, Cyprus and Belgium rank high largely because multinational holding and financing vehicles inflate cross-border intra-group debt recorded in official statistics.
France at 91.6%, along with Denmark and Sweden, stands out because much of the debt is considered genuine: France’s central bank flags broad corporate leverage, while Sweden’s is tied to commercial property.
Italy and Greece show the reverse pattern: despite public debt of 137% and 146% of GDP, their corporate debt was just 55.1% and 58.6%, underscoring how the ranking reflects financial-hub structures as much as business stress.