Free Trial
AUSSIE 3-YEAR TECHS

(M2) Gains Considered Corrective

USDJPY TECHS

Tests Support

EURGBP TECHS

Tuesday’s Low Remains Intact

GBPUSD TECHS

Probes Resistance

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Erdogan Says Turkey Opposes Finland And Sweden Joining NATO

NATO

Turkish President Recep Erdogan has said today that Turkey opposes the NATO membership plans of Finland and Sweden.

  • Reuters quotes Erdogan: '...Scandinavian countries are guesthouses for terrorist organisations.'
  • It is understood that Turkey's objection is the alleged support of Kurdish militant groups the PKK and YPG, designated as terrorist organisations by Ankara.
  • Erdogan continued: 'They [terrorists] are even members of the parliament in some countries. It is not possible for us to be in favour.'
  • The Nordic NATO applications are expected imminently and have been welcomed by the US, the UK, who have both provided interim security assurances. NATO Secretary General Jens Stoltenberg, and US Secretary of Defence Lloyd Austin have promised a 'smooth and swift' accession process.
  • The NATO constitution reads: 'The Treaty states that NATO membership is open to any “European state in a position to further the principles of this Treaty and to contribute to the security of the North Atlantic area”. It states that any decision on enlargement must be made “by unanimous agreement”.
  • If Turkey refuses to ratify accession it could critically damage Nordic aspirations, although Erdogan may be using the veto power to extract concessions from the US. In particular relief from US sanctions on Turkey over the purchase of Russian missile defence systems.
204 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Turkish President Recep Erdogan has said today that Turkey opposes the NATO membership plans of Finland and Sweden.

  • Reuters quotes Erdogan: '...Scandinavian countries are guesthouses for terrorist organisations.'
  • It is understood that Turkey's objection is the alleged support of Kurdish militant groups the PKK and YPG, designated as terrorist organisations by Ankara.
  • Erdogan continued: 'They [terrorists] are even members of the parliament in some countries. It is not possible for us to be in favour.'
  • The Nordic NATO applications are expected imminently and have been welcomed by the US, the UK, who have both provided interim security assurances. NATO Secretary General Jens Stoltenberg, and US Secretary of Defence Lloyd Austin have promised a 'smooth and swift' accession process.
  • The NATO constitution reads: 'The Treaty states that NATO membership is open to any “European state in a position to further the principles of this Treaty and to contribute to the security of the North Atlantic area”. It states that any decision on enlargement must be made “by unanimous agreement”.
  • If Turkey refuses to ratify accession it could critically damage Nordic aspirations, although Erdogan may be using the veto power to extract concessions from the US. In particular relief from US sanctions on Turkey over the purchase of Russian missile defence systems.