But he added that the indirect impact of a market panic would be much more significant.
While the direct impact would be minimal, Fitch warned that "the indirect impact of a Greek redenomination on banks throughout the eurozone could be severe".
It says the indirect impact on them will be more than offset by the extra provision made for children in the Budget.
However, it is too early to say what the indirect impact may be if there is any knock on effect for broader global economic growth".
Growth will be at a faster rate than we have seen previously, largely due to the direct impact of international migration and the indirect impact of immigration.
Economists use those numbers to estimate the indirect impact of a stadium when attendees use nearby restaurants and hotels, which then hire additional employees.
Cut down enough trees, the scientists argue, and the indirect impact of lost rainfall outweighs the direct impact of removing trees.
Howard Snell, a University of New Mexico biologist who frequently works in the Galápagos, says that tourists themselves are unlikely to harm the eco-system, but he is concerned about the indirect impact of projects like the Royal Palm.
More than two-thirds of the increase will be the result of assumed net migration and the indirect impact of people arriving on the birth rate, the Office for National Statistics (ONS) said.
A number of forces are behind the drop in long-term rates, economists said, including the sinking economy, which many say they believe is in a recession, and the indirect impact of the Federal Reserve's interest rate cuts.
But, given that global markets and financial firms are all hooked up through complex trading programs, the indirect impact could be significant.In these two cases there was no news of big losses.
