Eurozone debt drops for the first time in 6 years

Government debt in the eurozone declined for the first time in about six years in the third quarter of 2013, data released Wednesday showed, adding to signs that the region's debt crisis has eased. The ratio of government debt to gross domestic product (GDP) in the then 17-member eurozone fell to 92.7 per cent in the third quarter compared with the three months to end of June, when it stood at 93.4 per cent, the European Union's Eurostat said. The drop - to a total of 8.84 trillion euros (11.97 trillion dollars) - is the first in eurozone debt since the final quarter of 2007, Eurostat said.