Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > EXPLAINER- Finland, Sweden on verge of applying to join NATO
    Top Stories

    EXPLAINER- Finland, Sweden on verge of applying to join NATO

    EXPLAINER- Finland, Sweden on verge of applying to join NATO

    Published by Wanda Rich

    Posted on May 12, 2022

    Featured image for article about Top Stories

    STOCKHOLM/HELSINKI (Reuters) – Russia’s invasion of Ukraine has pushed Finland and Sweden to the verge of applying for NATO membership.

    Finnish President Sauli Niinisto and Prime Minister Sanna Marin said on Thursday that Finland – which shares a 1,300-km (810-mile) border with Russia – must apply to join NATO “without delay”.

    “We hope that the national steps still needed to make this decision will be taken rapidly within the next few days,” they said.

    Sweden’s ruling Social Democrats are expected to decide on Sunday whether to overturn decades of opposition to NATO membership, a move that would almost certainly lead to Stockholm also asking to join the 30-nation alliance.

    Moscow has warned it could deploy nuclear weapons and hypersonic missiles in the European exclave of Kaliningradif the two countries pursue their applications, auguring a tense wait during the months needed for ratification by all NATO members.

    NATO and the White House have said they were confident any security concerns could be tackled in the interim.

    Here are some issues that prompted a radical policy rethink and possible next steps towards entering the U.S.-led alliance.

    WHY ARE SWEDEN AND FINLAND NOT NATO MEMBERS?

    – Both have been non-aligned since World War Two despite having small military forces.

    – Finland gained independence from Russia in 1917 and fought two wars against it during the war, in which it lost some territory to Moscow. Finland signed an Agreement of Friendship, Cooperation, and Mutual Assistance with Russia in1948, cementing a degree of economic and political dependency and isolating it militarily from western Europe.

    – The end of the Cold War, bringing a break-up of the Soviet Union, allowed Finland to step out of Russia’s shadow as the threat from Moscow diminished.

    – It has relied on its own military deterrence and friendly relations with Moscow to keep the peace. But with Russia’s invasion of Ukraine, which Moscow calls a “special operation”, Russian President Vladimir Putin looks anything but friendly.

    – Sweden has not fought a war for 200 years and post-war foreign policy has focused on supporting democracy internationally, multilateral dialogue and nuclear disarmament.

    – It ran down its military after the Cold War, hoping in the event of any conflict it could delay a Russian advance until help arrived. Putin’s offensive against Ukraine has made aguarantee of aid much more appealing.

    – However, many on the left in Sweden remain suspicious of the U.S. security agenda and NATO, which ultimately relies on the deterrence provided by the U.S. nuclear arsenal.

    – Both Finland and Sweden switched from formal neutrality to military non-alignment in 1995 when they joined the European Union.

    – Both have drawn ever closer to NATO in recent years, exchanging intelligence and participating in alliance exercises, in response to an increasingly belligerent Russia.

    – Joining the alliance would bring Sweden and Finland under the umbrella of Article 5, which guarantees that an attack on one NATO ally is an attack on all.

    HOW BROAD IS SUPPORT FOR NATO MEMBERSHIP?

    – Polls show a substantial majority of Swedes back joining NATO with support running just above 60% in the latest poll and there is a majority in parliament in support of an application.

    – Sweden’s Social Democrats – the biggest party, which has held power for most of the last century – has long championed military non-alignment but has been reviewing its objections with a decision on whether to join now due on Sunday. The party is widely expected to back membership.

    – The Swedish Left Party – formerly the communist party -remains against membership, as does the Green Party, but were the Social Democrats to change tack, that would create an overwhelming majority in parliament in favour.

    – Opinion polls show support for membership in Finland has run even stronger than in Sweden, with many Finns mindful of the long land border shared with Russia, while support in parliament for an application is also broad.

    – The Finnish parliament’s defence committee said this week that joining NATO was the best option to guarantee national security.

    WHEN COULD THEY JOIN?

    – Finland has a NATO “option”, a kind of a plan of action that mandates applying if the security situation deteriorates, while Sweden’s parliament will present a new security policy review on Friday, though the latter is not expected to contain an explicit recommendation concerning NATO.

    – Sweden’s Social Democrats have called a parliamentary debate on NATO for Monday. Should the party as expected back joining, the government could call a Riksdag vote about sending through an application, but it is not formally required to.

    – Social Democrat Prime Minister Sanna Marin, who heads Finland’s five-party centre-left coalition, and President Sauli Niinisto have been touring NATO member countries in recent weeks securing support for a potential application.

    – Swedish Prime Minister Magdalena Andersson, also a Social Democrat, has likewise held scores of meetings with NATO governments.

    – While there is no set timeframe for the applications, here are the steps in NATO’s membership process that would apply for Helsinki and Stockholm:

    (Reporting by Simon Johnson and Niklas Pollard in Stockholm and Anne Kauranen in Helsinki; Editing by Angus MacSwan and Clarence Fernandez)

    Related Posts
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Hebbia Processes One Billion Pages as Financial Institutions Deploy AI Infrastructure at Unprecedented Scale
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Beyond Governance Fatigue: Making ESG Integration Work in Financial Markets
    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust
    Why I-9 Verification Matters for Financial Institutions: Building a Culture of Compliance and Trust
    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews
    Curvestone AI partners with The White Rose Finance Group to enhance compliance file reviews
    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust
    LinkedIn Influence in 2025: Insights from Stevo Jokic on Building Authority and Trust

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Top Stories PostProxy advisers split over vote on Leonardo CEO liability action
    Next Top Stories PostRussia warns West over risk of conflict with NATO

    More from Top Stories

    Explore more articles in the Top Stories category

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    Should You Take the Dealer’s Bike Insurance or Buy Online Yourself? Here’s the Real Difference

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    ID-Pal Unveils ID-Detect Enhancements to Counter Surge in Digital Manipulation and Deepfakes

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    TRUST TAKES THE LEAD: HALF OF UK SHOPPERS HAVE ABANDONED ONLINE PURCHASES OVER SECURITY CONCERNS

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Why Choose Premium Driver Service in Miami Over Rideshare Apps for Business Travel and Special Events?

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Over 30 Million Users Benefit From Ant International’s Bettr Credit Tech Solutions

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    Side-Hustle Economics: How Part-Time Service Work Can Strengthen Your Financial Plan

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    London to Host Major Summit on “New Horizons” for Islamic Economy in the UK

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    BLOXX Launches World’s First Home Equity Subscription, Creating a New Residential Asset Class

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    LiaFi Addresses Gap Between Business Transaction and Savings Accounts

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Ant Group Chairman Eric Jing Outlines Strategy for Inclusive AI, Collaboration on Tokenised Settlement

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Deeply Cultivating the Syndicated Loan and Cross-Border Financing Fields: Empowering Chinese Banks’ Global Expansion with Professional Excellence

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    Ant International’s Antom Launches AI‑Powered MSME App for Finance and Business Operations

    View All Top Stories Posts