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Free AccessTurkey Parl't Set To Vote On Sweden Accession Bid This Week-Wires
Wires reporting that the Turkish Grand National Assembly (GNA) is set to vote this week on the ratification of Sweden's bid to join NATO. The delay to Sweden's accession process caused by Turkey and Hungary has proved a notable obstacle in relations between the two nations and other NATO member states. Last week, the
- Sweden, alongside Finland, first applied to NATO in May 2022, which was swiftly followed by the signing of an accession protocol and ratification by most member states in July 2022. However, Turkey and Hungary have both held up the ratification that would allow Sweden to become a fully-fledged member state. For Turkey, this revolved around the status of Sweden's large Kurdish population, and in particular Stockholm's refusal to extradite individuals that Ankara alleged were part of the PKK terrorist organisation.
- Turkey remains in the process of attempting to purchase US F-16 fighter jets, but the delays to Sweden's NATO accession have acted as a major impediment. Should Turkey approve Sweden's membership it could open the door to Turkish purchases of US jets.
- Should the Turkish GNA vote in favour of Sweden's ratification this would leave Hungary in a difficult spot. The Hungarian gov't has said that it will not be the last to ratify Sweden's accession. However, only last weeka gov't spox was dismissive towards the prospect of Sweden's accession, and indeed the Hungarian National Assembly remains on its winter recess.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.