It is a sign of the depth of the global financial crisis that even Norway, one of the world's wealthiest nations, has felt significant tremors. The Scandinavian country has also been hit by the sharp fall in oil prices in recent weeks."Norwegian companies, like companies elsewhere, are cutting dramatically back on investments as a result of the banking situation, where banks really cannot say whether loan financing will be available," says Erik Thyness, managing partner of Wiersholm, one of the country's leading firms.
December 10, 2008 at 06:09 PM
1 minute read
The original version of this story was published on Legalweek
Philip Hoult reports on how Norway’s indies are looking to the previously unfashionable public sector to sustain them through the downturn
It is a sign of the depth of the global financial crisis that even Norway, one of the world’s wealthiest nations, has felt significant tremors. The Scandinavian country has also been hit by the sharp fall in oil prices in recent weeks.
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