Connect with us

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. .

Top Stories

New Zealand says Australia’s new nuclear submarines must stay out of its waters

2021 09 16T030432Z 1 LYNXMPEH8F03W RTROPTP 4 HEALTH CORONAVIRUS NEWZEALAND - Global Banking | Finance

WELLINGTON (Reuters) – New Zealand Prime Minister Jacinda Ardern said on Thursday that Australia’s new nuclear-powered submarines would not be allowed in its territorial waters under a long standing nuclear free policy.

A new Indo-Pacific security partnership announced by U.S. President Joe Biden, British Prime Minister Boris Johnson and Australian Prime Minister Scott Morrison, will see the United States and Britain provide Australia with the technology and capability to deploy nuclear-powered submarines.

The Indo-Pacific deal is widely seen as a counter to China’s growing influence in the region.

“I discussed the arrangement with Prime Minister Morrison last night,” Ardern said at a news conference.

“I am pleased to see that the eye has been turned to our region from partners we work closely with. It’s a contested region and there is a role that others can play in taking an interest in our region. But the lens we will look at this from will include stability,” she said.

However, Ardern said the nuclear-powered submarines would not be allowed in New Zealand waters under a 1984 nuclear-free zone policy.

“Certainly they couldn’t come into our internal waters.

No vessels that are partially or fully powered by nuclear energy is able to enter our internal borders,” she said.

Ardern said the new Indo-Pacific grouping does not change the security and intelligence ties of New Zealand, which is a member of the Five Eyes, a post-war intelligence grouping that also includes the United States, Britain, Australia and Canada.

“This is not a treaty level arrangement. It does not change

our existing relationship including Five Eyes or our close partnership with Australia on defence matters,” she said.

Ardern, who is in her second term in office, has looked to focus on a more independent foreign policy that is not loyal to any major bloc.

Foreign Minister Nanaia Mahuta has said she was uncomfortable with expanding the role of the Five Eyes, drawing criticism from Western allies who said New Zealand was reluctant to criticise China due to its trade ties.

China is New Zealand’s largest trading partner.

(Reporting by Praveen Menon; Editing by Michael Perry)

Global Banking & Finance Review

 

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!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post