Brutet dödläge i Nato ”jättekliv framåt”
Genombrottet i Nato-förhandlingarna kommer som en lättnad för Sverige – ”den forna fästningen av stabilitet” – som har kämpat med en rad olika problem: svag krona, recessionsoro, fastighetskris och gängskjutningar. Det skriver Bloomberg efter beskedet att Turkiet stöttar ett svenskt Nato-medlemskap.
Ett företag som sannolikt kommer att dra nytta av avtalet är Saab.
– Jag känner på samma sätt som jag tror att de flesta i vårt land gör – att det här är väldigt, väldigt positivt och ett gigantiskt kliv framåt, säger försvarsjättens vd Micael Johansson.
Ekonomer på SEB tror inte att medlemskapet blir ”en avgörande drivkraft” för kronan. Däremot kan det brutna dödläget hjälpa exporten till Turkiet.
BloombergSweden Gets Boost as NATO Breakthrough Eases Long-Running Gloom
- Ending standoff is ‘a giant step forward,’ Saab CEO says
- Former bastion of stability is battling an array of issues
Swedes reacted with relief as the country cleared a major hurdle by resolving a year-long standoff over joining NATO, offering a moment of respite for the Nordic nation beset with problems at home and abroad.
Turkey agreed to support Sweden’s membership in the North Atlantic Treaty Organization, ending the country’s outsider status as the alliance faces down Russia. The long-running spat was part of an array of economic, social and political issues — from a slumping currency and recession to a housing crunch and gun violence.
“Finally,” said Christer Gardell, a prominent activist investor in Sweden who runs Cevian Capital AB. “This should have happened a long time ago.”
The breakthrough on the eve of a two-day NATO summit in Vilnius, Lithuania came after months of arduous negotiations over Turkey’s demands for Sweden to tackle the Kurdish PKK group and others that Ankara labels as terrorists. Since the previous summit in Madrid last year, Sweden has enacted new legislation that will make participation in any terrorist group punishable by law.
The development marks a bright spot in an otherwise turbulent 12 months. Sweden has stumbled to become into a reputation as the sick man of Europe, with an economy crippled by rising rates weighing on housing prices and curtailing consumer spending.
The property woes have even deepened social divisions in a country that prides itself on egalitarian principles. Gun crime was the central issue in the general election in 2022 — a year that saw 62 people killed by shootings, making it the gun-crime capital of Europe. Prime Minister Ulf Kristersson’s minority government is supported by the anti-immigrant Sweden Democrats.
“I feel the same way that I believe most people in our country does — that this was very, very positive and a giant step forward”
The challenges have taken their toll on the country’s currency, which has weakened to its lowest levels on record against the euro. Traders have been selling the krona as they see little room for the central bank to keep tightening.
“It’s not unlikely that the uncertainties regarding the NATO ascension have added, however slightly, to that weakness,” said Jesper Fjarstedt, an FX analyst at Danske Bank in Stockholm.
Economists at SEB said that NATO membership is unlikely to be “a decisive driving force” for the currency but noted that the krona strengthened about 0.4% against the euro during the evening on Monday ahead of the official announcement. They also said the detente could help exports to Turkey.
One company likely to benefit is Swedish weapons manufacturer Saab AB.
“I feel the same way that I believe most people in our country does — that this was very, very positive and a giant step forward,” Micael Johansson, chief executive officer of Saab, said in an interview about his reaction to the decision. “There’s a feeling of ‘let’s take the next step’.”
Membership in the alliance would give Saab “access to more sensitive NATO programs and could mean they benefit from greater opportunities,” Citigroup Inc. analyst Samuel Burgess said in a note to clients.
Shares in the company rose as much as 6.5% and were up 1.4% on Tuesday afternoon.
“It is terrible that Sweden so naively and cowardly has agreed to everything, giving up on our principles and changing laws for Erdogan’s sake”
Not everyone in Sweden though was pleased with the country’s efforts to ease tensions with President Recep Tayyip Erdogan’s regime. Amineh Kakabaveh, a former member of parliament who came to Sweden as a refugee after being part of a militant Kurdish group in Iran, said it was “a dark day” for many Kurds.
“It is terrible that Sweden so naively and cowardly has agreed to everything, giving up on our principles and changing laws for Erdogan’s sake,” she said.
Turkey and Sweden are also still in disagreement over the burning of Korans in Stockholm. In two separate incidents, individuals have burned Islam’s holy book under police protection, causing widespread anger in the Muslim world and condemnation from the Turkish president. Swedish police have sought to block similar displays, but their attempts have been struck down by courts.
And in terms of NATO membership, timing is still an issue. Turkey’s parliament is only days away from a scheduled recess that will last until October. But Sweden’s Foreign Minister Tobias Billstrom said he believes the ratification could happen before then.
“We have a clear agreement that this will be done as soon as possible,” Billstrom said in an interview in Vilnius. “As soon as possible obviously doesn’t mean this fall.”
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