At the current level, Italy’s public debt as a percentage of GDP is the fifth largest worldwide. The Bank of Italy database collects monthly data for public debt reaching back to January 1862. The country of Italy currently has the ranking of third largest for GDP within the Eurozone as well as being number eight within the world. Italy - Italy - World War I and fascism: On Giolitti’s resignation in March 1914, the more conservative Antonio Salandra formed a new government. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. Italy- Total debt: $ 2,285,740,000,000. The stock skyrocketed on the British exchange. Historical Debt Outstanding - Annual 1950 - 1999 * Rounded to Millions Includes legal tender notes, gold and silver certificates, etc. To make matters worse, the democratically elected Chamber of Deputies, Italy's primary governing body, was unpaid, and thus prone to corruption and bribery. The first fiscal year for the U.S. Government started Jan. 1, 1789. It is compiled using data from the IMF, Eurostat and CIA agencies. 8. The company, despite its obvious limitations, attracted so many investors that nearly a year’s worth of Britain’s GDP was invested. This is a list of the gross National debt that countries have. Debt/GDP: 132.7% Debt per citizen: € 35,721 Spain Total debt: € 0 . Italy is the EU’s second most debt-ridden state with a ratio of 132% of GDP, followed by Portugal and then Cyprus. Meanwhile, the European economies of Italy and Belgium check the box as other large debtors with ratios topping 100% debt to GDP. In 1919, the Italian national debt was six times its pre-war level, and the lira had depreciated to one-third its pre-war value. No country in the European Union is debt-free, although some are able to manage their debts better than others. National or government debt is the debt owed by a central government. Learn more about different ways to measure our national debt. Italy Public Debt Performance Data for 2013 set public debt at a ratio of 132.6% against GDP, the highest level since unification in 1861. The rise of central government debt loads around the world has gotten investors obsessing once more over the risk of sovereign default, fearing a replay of … The $28 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts. Congress changed the beginning of the fiscal year from Jan. 1 to Jul. Debt Clock of Europe: Current National Debt Status in Europe - Interactive Real Time Comparison of National Debts of all EU Member States. ... Italy Total debt: € 0 . In June, “Red Week,” a period of widespread rioting throughout the Romagna and the Marche, came in response to the killing of three antimilitarist demonstrators at Ancona. In total, eight member states’ debt exceeds averages for both the Eurozone – the 19 states using the euro – and the EU’s 28 member countries. 1 in 1842, and finally from Jul. The company even investigated investing in the British national debt. The Italian economy is advanced with a rating of the sixth largest with regards to national wealth. 1 to Oct. 1 in 1977 where it remains today. Other stand outs from the list above include Japan, which has the highest debt to GDP ratio (237.1%), and China , which has increased government debt by almost $2 trillion in just the last two years. National debt refers to the amount of total government debt a country has. This is also referred to as ‘public sector debt’. This week the European Commission let Italy off the hook, granting the country extra flexibility – to the tune of 14 billion euros – in its debt reduction targets for 2016. New debt: € 0 .