Norway is sitting on top of a whole lot of a whole lot of oil, and as a result, apparently too much cash is a problem for the country. Oh the audacity to call that a problem! A golden quote from 1997 election period: “The only problems we have are luxury problems,” says Oeystein Stephansen, head of economic research for the Skandinaviska Enskilda Banken in Oslo.
One of the solutions to this so called “problem” of what to do with its 11% surplus (other than save most of it, not only sheltering the country from the GFC but allowing it to buy up a whole lot of cheap stocks), is a whole lot of funding for the arts. In Tromsø, a tiny town way up north in the middle of nowhere, I visited 4 different art galleries and there were plenty more! The Northern Norwegian Art Gallery was my favourite, and there were some really amazing and beautiful paintings from famous Norwegian artists throughout history.