Published: 21 Dec 2011 10:26 GMT+01:00 | Print version
Updated: 21 Dec 2011 11:26 GMT+01:00
Norway on Wednesday offered the International Monetary Fund (IMF) about €7 billion ($9.2 billion) to help bolster the European economy, Prime Minister Jens Stoltenberg said.
"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.
|
Cartographer / GIS Specialist
Location: Oslo
|
|
Senior Consultant
Location: Oslo
|
|
Account Manager
Location: Oslo
|
|
QA Lead
Location: Oslo
|
|
Communications Manager
Location: Sandvika
|
|
Lead Technical Assurance Engineer
Location: Sandvika
|
|
Operations Engineer - Offshore Operations
Location: Stavanger
|
|
Senior Project Manager
Location: Sandvika
|
|
Naxys Norway Sales Leader
Location: Bergen
|
|
Lead Engineer/Technologist
Location: Oslo
|
|
Account Manager
Location: Oslo
|
|
Project Controller
Location: Tranby
|
|
SharePoint Online Senior Architect
Location: Oslo
|
|
Software Development Engineer
Location: Norge
|
|
CCG Controller
Location: Oslo
|
|
Principal Engineer ? Structural Design and Analysis
Location: Stavanger
|
|
Strategic Sales Executive - Outsourcing-
Location: Norge
|
|
Planner / Offshore project planner
Location: Bergen
|
|
Project controller
Location: Stavanger
|
|
Structural Engineers, Asset Integrity Management
Location: Bergen
|
|
|
|
|
More news from Sweden at thelocal.se
More news from Germany at thelocal.de
More news from Switzerland at thelocal.ch
More news from France at thelocal.fr

Democracy, Human Rights and the Rule of Law in Europe: Strengthening the Impact of the Council of Europe’s Activities (Thu, 16 May)
- We meet at a very important moment. As we here from the Secretary General the founding principles of this organisation, democracy, human rights and the rule of law are again under pressure in Europa. We have to take that very seriously, said Minister of Foreign Affairs, Espen Barth Eide, in his statement at the Council of Europe's meeting.
The Niwano Peace Prize to Gunnar Stålsett (Thu, 16 May)
Ambassador Arne Walther gave this message on behalf of Minister of Foreign Affairs, Mr. Espen Barth Eide, at the award ceremony.
National statement by Norway’s Minister of Foreign Affairs Espen Barth Eide (Wed, 15 May)
"The great interest that that non-Arctic states are taking in the coming observership is a tribute to the good work we have done together. I think it is very important to welcome the new observers and to appreciate their interest to working with us on the basis of the principles that we have agreed to”, Foreign Minister Espen Barth Eide said at the Arctic Council Ministerial meeting in Kiruna, ...
Arctic Council welcomes new observers (Wed, 15 May)
“I am pleased that six new countries and the EU have been granted observer status in the Arctic Council. This confirms the Arctic Council’s key position as an international forum for discussing Arctic issues,” said Minister of Foreign Affairs Espen Barth Eide, who is taking part in the Kiruna Ministerial Meeting.
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.