Germany, Europe’s largest economy, shaved €24 billion off its overall public debt burden to €2.153 trillion in 2015. Germany’s total public debt ratio fell to 71.2% of its gross domestic product last year from 74.7% in 2014. Under EU rules, a member state’s overall debt must not exceed 60 percent of GDP. The EU average is 86%. Germany's pledged to be below 60% by 2020.
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