![](https://oke-esc.eu/sites/default/files/gov_finance_q12022.jpg)
In the first quarter of 2022, the market value of the outstanding long-term debt securities in the euro area decreased by around €501 billion due to a decrease in value in the financial markets. This is mainly the result of higher interest rates observed. This makes the debt securities issued in the past, when interest rates were lower, less attractive to investors, resulting in a decline in value.
At the end of the first quarter of 2022, long-term debt securities made up around 71% of the total liabilities of euro area governments.
Source:
Eurostat, 21 July 2022