Crisis outside Norway may last until 2015

OSLO: Weak economic conditions outside Norway's borders could last until 2015 and Europe could emerge from its current economic crisis only after 2020, the governor of the Norwegian central bank said on Tuesday.

"When it comes to our view of the international economic situation (it) may last until 2015. The eurozone is struggling. It could be in the next decade before Europe is out of its difficulties," Oeystein Olsen told a parliamentary committee.

He added that as long as oil prices were as high as they were now, it was hard to be pessimistic about the Norwegian economy.