Why every Norwegian’s a millionaire

Every Norwegian has become a millionaire, at least on paper. The country’s sovereign wealth fund is now at the equivalent of USD 800 billion thanks largely to the country’s oil wealth.

Sadly for the Norwegians, they can’t get their hands on their one million kroner each (around USD 160,000) because the money is being kept under the mattress by the Norwegian government which has been saving up the windfall generated by North Sea Oil since the late 1960s. And it would be a disaster if they did, according to Saxo Bank’s Head of Commodity Strategy, Ole Hansen. The country’s currency would become incredibly strong and it would kill off the Norwegian export industry. Angus Walker reports.