Eastern European currency and debt markets showed little reaction today to Ireland's decision to reject the Nice Treaty as investors took the view the vote could delay but not derail EU enlargement.
"Ireland happened on Friday and now it is history. Let's be realistic - the Irish vote alone will not block enlargement," said Mr Wlodzmierz Kado, dealer at Bank Handlowy in Warsaw.
The surprise result has raised the spectre of a possible delays in EU plans to admit up to a dozen new members, mostly from Eastern Europe, over the coming years.
But the region's local debt and currency markets paid token attention to the vote, underpinned by quick assurances from EU officials that the Irish rejection would not block expansion.
Mr Jon Harrison, strategist at Deutsche Bank in London said: "Comments from the EU suggest that there is political will within the EU to push ahead with enlargement so on Friday and today there has been little reaction to the vote."
"There is some risk to the markets in the future and we may see more reaction depending on how the Irish set about trying to resolve the situation,"Mr Harrison said.
EU foreign ministers again put a brave face on the Irish vote today, saying negotiations with candidate countries would proceed as planned.