In front Oil & Energy Minister Ola Borten Moe. Standing is Morten Søberg, outgoing Secretary of State.
"Financial stability has become increasingly important over the years, " said Morten Søberg and depicted the Norwegian banking sector that that differs from the Swedish . First and foremost, the number of banks are many more and the regional ties stronger. Morten Søberg described the new capital requirements for banks in Norway that are effective from July 1 this year. The big change, as in the banking world in general, is growing demand for equity. "The smaller the bank is the more conservative and solid it is" said Søberg .
Norway's oil dependency was discussed. This was said, by the two Norwegian politicians, to be both good and bad. The Norwegian households' debt burden is greater than ever adding a degree of uncertainty. In addition the average wage in Norway is 30 percent higher than in Sweden. "A political challenge for us in the future is how we can continue to foster a climate favorable to innovation and thus generate progress. Not to fall into quicksand of security" said Ola Borten Moe who, together with Morten Søberg was on his last official visit abroad. Next week a new Norwegian government will be presented and parliament opens on Tuesday.