Moody’s decision to put the UK sovereign debt on negative outlook sent a few trembles through Westminster this week, but Britain is unlikely to find itself headed towards the kind of difficulties Italy has found in financing its debt, according to research from Barclays Capital.

Whereas Italy and other struggling eurozone governments are considered a credit risk, in that they could theoretically run out of money to pay their creditors, the Bank of England - along with the US Federal Reserve - can print money to pay the debts of their respective governments.