The proposal from Sp reads “Norway shall have its own monetary unit”. But a majority of the Labor Party, FRP, Conservative Party and Liberal Party ensures that the proposal is voted down when the Storting today deals with it. – The main point is to ensure that we will have our own currency in Norway, so that we can manage the economy to what is best for Norway, says SP’s parliamentary politician Nils Bjørke. – It is absolutely crucial that we can ensure that another, short-term majority in the Storting cannot change this during a four-year period, he says. Amendments to the Constitution must be adopted in two different parliamentary periods. INDEPENDENCE: The Center Party’s Nils Bjørke and Per Martin Sandtrøen do not get the parliamentary majority with them. Photo: Kristian Skårdalsmo / news No also from Frp Sps Per Martin Sandtrøen thinks it is “strongly regrettable” that the Frp does not support the proposal either. – When the FRP was in government and had then FRP leader Siv Jensen as finance minister, she took big steps by transferring sovereignty to the EU’s financial supervision and linking us more closely to the EU’s financial system, he says. – It is a development that we in Sp are strongly against. We will preserve national control and independence. UNNECESSARY: The Progress Party’s finance policy Hans Andreas Limi. Photo: Terje Pedersen / NTB We cannot include everything in the Constitution and must define what belongs there, responds Hans Andreas Limi of the Frps. – The FRP wants to protect the Norwegian krone, it should be our currency, he says – and calls the Sp proposal symbolic politics. – It is completely unnecessary to include this in the Constitution. It is just a political marking on Sp’s part that we do not want to support. From 1814 until 1911, it was actually stated in the Constitution that “Norway retains its own Bank and the status of its own Monetary and Coinage, which arrangements are determined by law”. Aktuell krise Sp has also tried several times in the past to get the krone into the Constitution, but did not get a majority. This time it is SV and Rødt that support SP’s proposal. EURO: The EU’s common currency. Photo: Jon Olav Nesvold / NTB And this year, the question of own currency has gained new relevance, as Europe is ravaged by strong price growth. Figures Sp received from the Ministry of Finance show that Norway is “best in class” when it comes to reducing inflation. The latest figures from Statistics Norway (SSB) showed this week that Norway has a price increase of 5.9 per cent. In general, price growth has been well above this in both the eurozone and other European countries recently. The latest figures from the eurozone show a price increase of 9.2 per cent in December last year, compared to the same month in 2021. – The figures we have received show that inflation in Norway has so far remained lower than in all countries in the eurozone, says Sps financial politician Per Martin Sandtrøen. – But why will including the currency in the Constitution strengthen the Norwegian right to self-determination? – That makes it even more difficult to abolish the Norwegian krone. And that makes it even more difficult to join the EU, he says. – Not suitable Economics professor Steinar Holden at the University of Oslo explains why it can be smart to have your own currency. – The most important advantage of having your own currency is that you get control over the domestic interest rate, he says. In the current situation, with high price growth both in the eurozone and in Norway, most countries have overlapping interests. But in a situation like in 2014, when a sharp drop in oil prices hit Norway’s economy hard, it can be a clear advantage to have a separate currency, Holden points out. – Then Norges Bank lowered the interest rate to stimulate the economy. In addition, the Norwegian krone fell in value against other currencies. It strengthened Norway’s competitiveness. This dampened the decline in the Norwegian economy that the drop in oil prices would otherwise have led to, he says. But despite the advantages of having our own currency: – I probably don’t think the issue of currency is that suitable for establishing a constitution, says the professor. – It is not a question of principle in the sense that I think it is a suitable means of action.
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No to include the krone in the Constitution – news Norway – Overview of news from various parts of the country
