Full stop for Norwegian industry
Norwegian industry is now facing the realities of the financial crisis. In the weeks and months to come there will be full stop for all planned projects, a representative of the Federation of Norwegian Industries says.
Norwegian companies are now sending out loads of press releases on lower activity, less projects and notices on reduced staff. For several years, banks have contributed to the boost activity with easy access to project financing. Now the banks are a lot more restrictive before the sign a financing contract.
Knut Sunde in the Federation of Norwegian Industries says to Norwegian Newspaper Dagens Næringsliv, that most important measure now is that the government secures all banks liquidity, so that it will be possible for Norwegian industry to get project financing again.
