Norway Foreign Minister Warns UK about Euro Exit

Norway is not in the EU but has access to the single market. UK Eurosceptics use it as a model for how the UK could relate to the EU from outside.

But Foreign Minister Espen Eide said Oslo had “limited scope for influence”.

“We are not at the table when decisions are made,” he told Radio 4’s The World This Weekend.

Mr Eide is pro-EU, though Norwegian voters have twice rejected the chance to join the EU in referendums in 1972 and 1994.

Sir Nigel Sheinwald, a former UK ambassador to the US and to the European Union, said: “The issue is – do you want to be part of the single market? All the economic indicators are that the UK needs to be.

“But [the Norwegians] have no role in negotiations… they have no impact, no influence and there’s no accountability. So this is regulation without representation.

“It’s the first thing the UK needs to decide, whether it wants to be associated with the single market, from the inside or the outside.

“If on the outside, both the Swiss and the Norwegian models give you no actual impact on the substance of what’s agreed.”

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.