Norway Isn’t Thrilled About Britain’s Norway Option
An advertisement for Marc Jacobs fashion brand sits in the window of an optical store beside a DNB ASA minibank in Oslo, Norway, on Tuesday, Oct. 6, 2015. The nation could as soon as next year start making withdrawals from its massive $830 billion sovereign wealth fund, which it has built over the past two decades as a nest egg for 'future generations.'
Photographer: Krister Soerboe/BloombergJoining the European Economic Area would be an obvious way for the U.K. to retain access to the European Union’s single market should it go ahead and leave the bloc.
But in the EEA’s biggest member, Norway, questions are now being asked about the advantages of allowing the much bigger North Sea neighbor into an accord that in many ways has been tailored to the needs of the Scandinavian country and its other members -- Iceland and Liechtenstein. Concerns have been raised by the prime minister and the finance minister, and also by the leader of the Labor Party, the biggest group in opposition.