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Slovakia has raised $1.25 billion euros($1.7 billion usd) in a bond sale at a lower cost than higher rated Italy.
The sale was almost twice oversubscribed.
The market approves of the nation's deficit reduction plans as PM Iveta Radicova (pictured)works to lower the budget deficit to 4.9 percent GDP this year from an estimated 7.8 percent in 2010.
An analyst said “It shows that concern over the fiscal situation in the euro zone’s peripheral countries isn’t spilling over and reflects Slovakia’s strong fundamental situation and government’s efforts to reduce the budget deficit and debt.”
