30.09.2011 - Norway to cut bank support as Europe girds for deeper crisis
Norway’s $524 billion sovereign-wealth fund has so far shielded the country from the worst of Europe’s debt crisis. Still, adding to bank industry stresses as household indebtedness soars to the highest in more than two decades may stall recovery prospects. The central bank estimates consumer burdens will grow to more than 204 percent of disposable income next year, the highest since at least 1988. Norway in the early 1990s seized control of its biggest banks, in part because of a real estate slump that followed a surge in lending growth triggered by deregulation in the 1980s..............................................Full Article: Source
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