SHARE
COPY LINK

BREAKING

‘This is a good day’: Sweden and Finland submit bids to join Nato

Sweden and Finland's ambassadors to Nato handed over their countries' applications to join the security alliance at its Brussels headquarters at 8am on Wednesday.

'This is a good day': Sweden and Finland submit bids to join Nato
Nato Secretary-General Jens Stoltenberg shakes hands with Axel Wernhoff, Sweden's Nato ambassador, after the application was handed in. Photo: Screen Grab

Sweden’s ambassador to Nato, Axel Wernhoff, together with his Finnish colleague Klaus Korhonen, crossed the road from their offices to submit the two countries’ indication letters, both signed yesterday by their respective foreign ministers, at Nato’s headquarters. 

They were met by Nato Secretary-General Jens Stoltenberg, who thanked the two countries for what he called “a historic step”. 

“This is a good day at a critical moment for our security,” he said. “You have both made your choice after thorough democratic processes and I warmly welcome the requests by both Sweden and Finland to join Nato. You are our closest partners and your membership in Nato would increase our shared security.”  

Nato’s ambassadors met at 10am to discuss the two countries applications.  Until a few days ago, Nato was expected to take less than a day to decide to formally invite the two countries to join from the time the letters were submitted. 

But according to Sweden’s TT newswire, the attempts of Turkey to block the two countries may delay this until early next week. 

Turkey, which like all member states has a veto over new members, has accused Sweden and Finland of acting as safe
havens for armed Kurdish groups opposed to Ankara. 

In a veiled reference to Turkey’s recent threat to block Sweden and Finland’s application, Stoltenberg expressed Nato’s willingness to work through any outstanding issues. 

“The security issues of all allies have to be taken into account and we are determined to work through all issues and reach rapid conclusions,” he said. 

He also pointed to the promises of security support for Sweden during the transition phase, that have come in recent days from member states, adding that Nato was “already vigilant in the Baltic Sea region”. Nato and its allies would continue, he said, “to adapt as necessary.”  

Stoltenberg has been working from home after testing positive for Covid-19 last week. 

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

PROPERTY

Swedish property market on steady upward climb

Is the Swedish property market coming back to life after a long period of hibernation? Recent figures suggest as much.

Swedish property market on steady upward climb

Swedish property prices rose for the fourth consecutive month in April – 5.8 percent since the turn of the year and 1.7 percent compared to the previous month, according to state-owned mortgage bank SBAB.

The price of a detached home rose 1.9 percent in April compared to March, and apartments rose by 1.2 percent.

SIX MISTAKES TO AVOID:

It’s not unusual for the property market to perk up in spring, but there’s a clear increase even adjusting for seasonal effects. 

“Summed up since the turn of the year, apartment prices have risen by over 7 percent. Even the estimated trend shows a clear increase, in other words prices are rising more than you would expect given the time of the year,” said SBAB chief economist Robert Boije in a statement.

A major reason behind the price increase is the expectation that Sweden’s central bank, the Riksbank, has stopped raising the country’s main interest rate and the hope that it might even cut the rate in its next announcement, which will come next week.

While this is expected to bump up the price of buying a property, it is on the other hand also likely to lead to lower mortgage rates.

EXPLAINED:

SHOW COMMENTS