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Development of crisis has led to disregard the European Union as a homogeneous area can be immune macroeconomic and financial shocks for each country. The present paper proposes to observe the effects of the economic crisis in the changing of degree of occurrence of sovereign default risk in the European Union countries. A part of the work is performed using multidimensional data analysis methods during the years 2007-2011. Also, another part of the work done panel models in the EU. Economic contagion has led to observe changes and critical observation give us information about the place of occurrence of the economic crisis in the European Union. The model of panel data was used to observed dependencies between public debt and other variables analyzed in the EU countries. The similarity of the indicators in the country led to the information of a valid econometric model point of view. [ABSTRACT FROM AUTHOR]

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