• Norway's news in English
 

Norway offers IMF €7 billion to help eurozone

AFP · 21 Dec 2011, 11:26

Published: 21 Dec 2011 10:26 GMT+01:00
Updated: 21 Dec 2011 11:26 GMT+01:00

"Norway today offered the International Monetary Fund a loan of 55 billion kroner to help stabilise the European economy," Stoltenberg told reporters.

Earlier this week, the 17 countries that share the euro pledged €150 billion ($195 billion) in bilateral loans for the International Monetary Fund to assist the debt-laden eurozone.

European Union leaders had called at a December 9th summit for €200 billion, including contributions from non-eurozone countries.

"We are doing this because it is in our interest to restore enough order in the international economy to be able to get out of the crisis we are currently bogged down in," Stoltenberg said.

"It is not a gift, it is an investment," he insisted.

The loan requires approval from the Norwegian parliament and is conditional on other contributions from other countries, he said.

Four non-eurozone members of the EU -- the Czech Republic, Denmark, Poland and Sweden -- each pledged on Monday to make loans to the IMF for use in stabilising the eurozone.

But Britain, also a member of the EU but not of the eurozone, has meanwhile refused to stump up its roughly 30-billion share.

Norway is not a member of the EU but its economy is heavily dependent on exports to the region.

While the Norwegian economy remains robust thanks to its oil industry -- it is the world's seventh-biggest exporter of black gold -- the Scandinavian country is concerned about an economic slowdown in Europe that would lead to a reduction of its exports.

Your comments about this article

Today's headlines
Israeli activist pleads for Norway reunion
Photo: Scanpix

Israeli activist pleads for Norway reunion

19 minutes ago

Nuclear whistle-blower Mordechai Vanunu, still barred from leaving Israel more than a decade after completing an 18-year-jail term, said Friday he wants to join his new bride in Norway.

Norway 'occupation' TV show irks Moscow
The series is based on a screenplay by Norwegian writer Jo Nesbø. Photo: Scanpix

Norway 'occupation' TV show irks Moscow

48 minutes ago

A television series about Russia's fictional takeover of Norway's abundant oil and gas resources has vexed Moscow, which says it has had enough of being portrayed as an aggressor.

Norwegian was terrorist in Kenya mall attack
This man, clad in a black jacket, was the man a former neighbour identified as possibly being Hassan Abdi Dhuhulow - CCTV footage

Norwegian was terrorist in Kenya mall attack

21 hours ago

Norway's security services have confirmed that Hassan Dhuhulow, a Norwegian man of Somali decent, was one of the terrorists behind a brutal attack on a Nairobi shopping centre in 2013.

Bergen gallery revives Nazi art shows
Albert Janesch, Wassersport, 1936. Photo: Deutsche Historische Museum, Berlin

Bergen gallery revives Nazi art shows

1 day ago

An art gallery in Bergen has reconstructed a series of Nazi art exhibitions shown in Germany and Norway before and during the Second World War.

Video
Norway pant maker goes for 'normal' models
One of Dressmann's new models. Photo: Screen Grab/YouTube

Norway pant maker goes for 'normal' models

1 day ago

The Norwegian retail chain Dressmann has stopped advertising its boxer shorts with young models with washboard stomachs, instead modelling them on 'normal' men.

Norway migrant relatives charged with trafficking
The Swedish border at Svinesund in Østfold county. Photo: Johnny Larsen / NTB scanpix

Norway migrant relatives charged with trafficking

1 day ago

A majority of the people charged in Norway for smuggling migrants across the border are related to those they are helping, police have told Norway's state broadcaster NRK.

Utøya 'God's payment for opposing Israel'
The book's writer Jeremy Hoff and Kjartan Mogen from Norway's Party of Christians. Photo: YouTube/Facebook

Utøya 'God's payment for opposing Israel'

1 day ago

The young people killed in 2011’s brutal terror attack on the island of Utøya deserved to die because their organisation was too critical of Israel, a new book by a US evangelical Christian has claimed.

Norway police fear press will spur refugee surge
Norway's Storskog border post. Photo: Cornelius Poppe/NTB Scanpix

Norway police fear press will spur refugee surge

2 days ago

Norwegian Police are braced for a surge in the number of Syrian refugees crossing the country's border with Russia, after the Arctic route caught the attention of the world’s press.

Norwegians jailed for smuggling fake valium
The pharmacy sold the men chlorpheniramine telling them it was valium. Photo: Norwegian police

Norwegians jailed for smuggling fake valium

2 days ago

Two Norwegians have been jailed for smuggling, even though the pills they were caught with, which they told police were valium, were in fact antihistamines available over the counter.

Dead pianist's husband did time for beating her

Dead pianist's husband did time for beating her

2 days ago

The Norwegian husband of murdered pianist Natalia Strelchenko beat and threatened to kill her less than a year before they married, Norway's VG newspaper has discovered.

RECEIVE OUR NEWSLETTER AND ALERTS

National
Norway man built secret child's room in cellar
Education
Norway starts school for Vikings
Sport
Sepp Blatter should win Nobel Peace Prize: Putin
National
The oddest TripAdvisor comments about Norway
National
Experts baffled by freak downpour in Norway
National
Dude, where's my house? Avalanche smashes Norway farmhouse
Culture
VIDEO: Norway artist's naked tree stunt goes awry
Health
Norway scientists find secret behind gluten intolerance
National
VIDEO: Have you seen this jet ski blunder at a Malmö hotel opening?
National
Oslo is the crystal meth capital of Europe
Sport
VIDEO: Man in Norway catches fish too big for boat
International
'Snowden could come to Norway to collect prize'
Technology
Oslo builds world's first bumblebee highway
Culture
World’s biggest elk statue arrives in Oslo
Norway's men soon to be among Europe's fattest
National
Muslims form 'ring of peace' at synagogue
Business & Money
Schumacher's Norway retreat sold for $3m
National
King Harald visits Antarctic namesake
Culture
Norwegians streak the streets of Berlin
Culture
Norway couple find love on word game app
International
Norwegian chef wins world's top food prize
Politics
Solberg: The fight for freedom isn't won
National
Gaza doc named Norway's person of year
National
Norway extends Russian military freeze
National
Kjell Inge Røkke tops Norway's Rich List
International
Surprise! Norway priciest for home comforts
National
Norway terror attacks to become TV drama
International
Malala: Youngest ever Nobel Peace Laureate
National
Norway celebrates 25 years of Sami politics
Business & Money
CurrencyFair: Why it pays when making overseas transfers
International
Norway best country for older people
National
Muslim centre wanted on site of Munch Museum
International
Norway to send military staff in fight against IS
National
Father warns Breivik 'more extreme than ever'
National
Four-year-old Norway girl sleepwalks 4km
Travel
Cruise line offers Northern Lights promise
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

2,143
jobs available