Wednesday, September 14, 2005

Promise not to affect interest rate

Economics spokesperson for the Socialist Left, Oystein Djupedal, is commonly mentioned in the media as a hot candidate for the Finance Minister position. In an interview today he promised that "our politics won't affect the interest rate".

Earlier, Mr Djupedal's party has stated that it wants to control the interest rate politically, and this might one reason why he sounds so confident two days after the election. After all, the socialist coalition has promised to raise taxes by only NOK4bn in four years, and at the same time increase public spending massively.

Oystein Djupedal is probably one of the most colourful politicians in Norway. Being extreme left he usually struggles to explain how the market works, and sometimes offers his own theories on what's going on. Two weeks ago, when a Norwegian company fell on the stock exchange following an acquisition in Asia, Mr. Djupedal said this proved the shareholders opposed a layoff in Norway. In 2003, he claimed that taking out dividend from your company increased your wealth.

Socialist Left promises no change in interest rate. Has Mr. Djupedal ever heard about inflation?


Anonymous Jon Martin said...

Aftenposten had a net meeting with the man who actually could become our new Finance Minister. For some reason, he ignored my question: "Can you please explain what the financial ratio ROCE means, and how it is useful to know about when assessing the profitability of a company"

He probably thought that was a bit beneath him.

Blogger VamPus said...

Nope. He probably couldn't answer.


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