23.10.2008 - Would Scottish oil fund have allowed us to ride out the financial storm?
From Scotsman.com: Having been embarrassed by his earlier comparisons of Scotland with Iceland and Ireland, Alex Salmond now points to Norway as a model of what Scotland could become. There are, however, major differences between the two countries. Norway has been putting revenues from North Sea oil and gas into a national sovereign wealth fund, while this country has been spending them (much of the money on welfare benefits). We have no such fund to fall back on in the event of bank failure, for example..... Full Article: Source