Palermo head Maurizio Zamparini claimed that Italian football has little to worry about financially compared to England and Spain.

Zamparini spoke to AffariItaliani.it about the debt issue, "There is no crisis in Italian football, and we are doing fine from a financial point of view," he said.

"Italian football clubs cannot go bankrupt because they are covered by bank guarantees.

"The clubs who are going bankrupt are in England, Spain and Germany, where they have mega debts.

"I think the difference is in the systems used by Italian banks compared to foreign ones."

UEFA intend to design new initiatives to help curb the debt problem in European football.

Their report revealed that Italy has a debt of €479 million, compared to England's €3.8 billion.