Meanwhile the euro continued to extend its gains despite Slovakia's rejection of the EFSF expansion. The reason why investors shrugged off the delay caused by Slovakia is because they realize this represents political jockeying and not outright opposition to EFSF expansion. Three out of the four coalition parties and the opposition party support the expansion and only rejected it as a way to push the Prime Minister out of office. The next vote should be held before the end of next week, at which time the EFSF bill will most likely be approved by the Slovakian government. |