| Videos | Channels | Search |
Why every Norwegian's a millionaire
Every Norwegian has become a millionaire, at least on paper. The country's sovereign wealth fund is now at the equivalent of USD 800 billion thanks largely to the country's oil wealth.
Sadly for
the Norwegians, they can’t get their hands on their one million kroner because the money is
being kept under the mattress by the Norwegian government - which has been
saving up the windfall generated by North Sea Oil since the late 1960s. And it would be a disaster if they did, according to Saxo Bank's Head of Commodity Strategy, Ole Hansen. The country's currency would become incredibly strong and it would kill off the Norwegian export industry.
01:41 minutes
Tags: angus, angus walker, commodities, commodity, currency, diaster, fund, hansen, itv, krone, kroner, millionaire, news, nok, norway, norwegian, norwegian kroner, oil, oil wealth, ole, rich, rich country, rich nation, rich people, richest nation, saxo tv, sovereign, tradingfloor.com, usdnok, video, walker, wealth