However, the market is most nervous about a downgrade and the global ramifications of the US losing its tripleAstatus for the first time in its history.
The need for that was reinforced this week by a warning from Fitch, a credit-rating agency, that Britain was the big economy most at risk of losing its prized triple-A status as a sovereign borrower.
While the UK has retained its tripleA credit status throughout the financial crisis there been murmurings that its prized rating could go the way of France of and United Status, who both lost their top rating last year.