Norway is already in a panic over the price of oil.
The entire Welfare state is financed by oil revenues.
They just cut their interest rate by a quarter, to 1.25%.
Norway’s Shock Rate Cut Drives Krone to Lowest Since 2009
http://www.bloomberg.com/news/2014-12-11/norway-surprises-with-rate-cut-as-oil-slump-weighs-correct-.html
Statoil, their largest oil company, has taken some large hits compounding the oil price loss of revenue.
Statoil Defers Decision on $5.7B Oil Recovery Project
http://www.freerepublic.com/focus/f-news/3232581/posts
Statoil Scuttles Ultra-deepwater Rig Contract; Pays $350mm To Back Away
http://www.freerepublic.com/focus/f-news/3229630/posts