According to Radio New Zealand, Winston peters has agreed to stand aside while the Serious Fraud Office conducts its investigation. No news on who will replace him (presumably Phil Goff), but it suggests that the government retains confidence and that we won't be having an election before the ETS can pass.
Phew.
Update: Helen Clark will be replacing Peters as Minister of Foreign Affairs. Given that she was doing much of the job anyway, this seems appropriate.