Flush with cash, Norway ponders use of petro-kroner
OSLO (AFP) - Norway, which goes to the polls on Monday, is an island of prosperity in Europe, with so much money that it literally doesn't know what to do with it.
The Nordic country faces an embarrassment of riches as it tries to figure out how to spend its huge pile of oil money without damaging the economy in the long run.
"All countries around us are forced to reduce their spending," said Oeystein Doerum, chief economist at Norway's largest bank DNB.
"Our biggest challenge is that our oil wealth is so huge we run the risk of wasting it on substandard projects that are not profitable enough."