Image: Bernat Armangué/AP
Turkey officially lifted its veto over Finland and Sweden’s applications to join NATO yesterday, after the three nations reached an agreement to protect each other's security. Long story short: the two Nordic countries are now on a path to join the military alliance within the next several months.
🇹🇷🇫🇮🇸🇪 Background… Since NATO operates by consensus, it’s possible for one country to block an application for new member status, which gave Turkey leverage when Sweden and Finland sought to join earlier this year following Russia’s invasion of Ukraine.
🧠 In the know: If Finland and Sweden are added, NATO would more than double the length of its border with Russia, the global power it was formed to counteract.
🌎 Zoom out: NATO Secretary-General Jens Stoltenberg said earlier this week that the military alliance will boost the number of troops on high alert by more than sevenfold to 300,000, describing the move as “the biggest overhaul of our collective deterrence and defense since the Cold War."
🏦 Credit Suisse became the first domestic bank ever to be found guilty of a corporate crime by Swiss authorities, after a court ruled Monday that the lender failed to stop money laundering carried out by a Bulgarian crime ring responsible for bringing tons of cocaine into Europe.
🇷🇺 Russia missed payments on two bonds that were due last night, defaulting on its foreign debt for the first time since the 1918 Bolshevik Revolution.
🇱🇰 Sri Lanka’s economy has “completely collapsed” after months of shortages of food, fuel, and electricity, Prime Minister Ranil Wickremesinghe told lawmakers yesterday.
Let's make our relationship official, no 💍 or elaborate proposal required. Learn and stay entertained, for free.👇
All of our news is 100% free and you can unsubscribe anytime; the quiz takes ~10 seconds to complete