At the end of the second quarter of 2017, the government debt to GDP ratio in the euro area stood at 89.1%, compared with 89.2% at the end of the first quarter of 2017. In the EU, the ratio also decreased, from 83.6% to 83.4%. Compared with the second quarter of 2016, the government debt to GDP ratio fell in both the euro area (from 90.8% to 89.1%) and the EU (from 83.8% to 83.4%). As of the end of the second quarter of 2017, debt securities accounted for 80.3% of euro area and for 81.4% of EU general government debt. Loans made up 16.6% and 14.5% respectively and currency and deposits represented 3.1% of euro area and 4.1% of EU government debt. The highest ratios of government debt to GDP at the end of the second quarter of 2017 were recorded in Greece (175.0%), Italy (134.7%) and Portugal (132.1%), and the lowest in Estonia (8.9%), Luxembourg (23.4%) and Bulgaria (27.7%). Compared with the first quarter of 2017, seven Member States registered an increase in their debt to GDP ratio at the end of the second quarter of 2017 and twenty a decrease, while the debt to GDP ratio remained stable in the United Kingdom.