No. 686: Banking in Norway hinders growth, as there is no real competition banks themselves together!

No. 686:

Banking in Norway hinders growth, as there is no real competition banks themselves together!

Hans Nielsen Hauge both preached the word of God and was keen practical solutions to society and the individual would be blessed . So do I here by taking up a great injustice and bias in the Norwegian society. We have an undemocratic Banking painter as his own cake and skins almost toilers and the common man. Especially those living in cities with large loans to housing etc. Photo by Hans Nielsen Hauge

Norway is very good, especially if we compare ourselves with Europe and the rest of the world. However, there is clear potential for improvement , particularly with regard to it to get worse or difficult times .

It's more like comparing Norway to Europe , not least in terms of salary fungus does. We hear from many quarters , not least NHO how important it is that the upcoming wage settlement is the same as or similar to the rest of Europe. But when taking a not a material point , surely one of the most important if not the most important . It is that interest rates are too high here in Norway . As a descendant of two important reasons. One is that there is little or no competition between banks in Norway , one is generally satisfied as it is. At the same time , banks are very greedy and take interest margins closest to the afterlife !

What should be done?

Ether my opinion should be more things done , to facilitate clean pressure and create a real competitive banks among themselves here in Norway .

Here are some opportunities and initiatives:

1 ) In debates set in far too little politicians and others accountable for what they have done, said and given promises . See how helpless the new government is on this issue . The drains , talking and doing very little . And in the debates they release all to easy away and when they are interviewed .

2 ) Tell everyone all that it is totally wrong to compare us to Europe when we have such a huge interest press here in Norway . Plantain mi in Denmark actually see one number on the interest rate and they have favorable agreements otherwise .

3 ) The competition is small here in Norway , and the state provides instructions using the banks to their advantage against us customers. We see this especially now that they are required to have equity that they have long since been had they not shared as much to its shareholders and allocated the high bonuses , salaries etc and other benefits they have. An example is the DNB bank manager Rune Bjerke which has around 8 million in salary and bonuses and ever dealt more salary and bonus for the man. It 's not surprising that interest rates must be high when the bankers should have their pay cuts . We borrowers have to fork out millions for these greedy bosses. They do not get enough.

4 ) The equity requirement should be lowered to 10 % . So help me , it will do much for many.

5 ) Let eg . Housing Bank lend out to the disadvantaged and those with over 2 Million in debt at a much cheaper rate to create a new dynamic into the whole system. For those who need the most help and who have invested must get some benefit assistance. Do not be opposed as they are today with the huge debt and interest pressure.

Of course there are many factors and considerations . But with today poltikk then there are those with "normal" income, not exorbitant salaries or not a debt that must " sting " of the policy and such banks in Norway are run and manage and keep on . Have even tried switching Bank , talk to the bank , indeed , made ​​the most of it. But getting pushed interest rates lower than 3.5 % , I have failed . Are there others who have done it ? Does not seem that right . But how much should the best interest rates in Norway have been on ? Banks should also make money with the risk of lending . I would say that it should have been at least 1% lower than it is today here in Norway .

In Denmark I believe that the policy rate is approx . 1% better than here in Norway , then at 0.25%. Why not lower the rate of Norges Bank accordingly and follow the advice I have listed ? It is important that all footsteps are taken , or will banks be even more greedy . Lowers one equity without letting Housing Bank also lend that I have written. So will sooner or later have problems , why? Because the real problem here in Norway is that there is no real competition between the banks themselves , without a do something about it . So resolves not the big problem !

Related links: http://the-heavenly-blog.janchristensen.net/2011/12/nr-170-norway-will-not-be-spared.html http://the-heavenly-blog.janchristensen.net/ http://janchristensen.net/index2.php?side=video