Norwegians deal would make us all millionaires
(From The Orcadian dated February 21, 2002)

Talk of the Northern Isles being reclaimed by Norway after being handed over to Scotland as a dowry in the 15th century has prompted St Ola resident Charles Hibbert to work out how much cash would need to change hands today to make the dream come true.

“The dowry pledge by the King of Norway to the Scottish king was 65,000 florins of which only 5,000 were paid, leaving a balance of 60,000 florins to pay,” he said.

The Norwegian king pledged the Orkney and Shetland isles until the balance of 60,000 florins was paid, he explained.

“Assuming that there would be five per cent interest, which I believe was a figure used for centuries on transactions, that would mean that every 20 years the money would double. I understand that the exchange rate was ten florins to the pound.”

According to Mr Hibbert’s calculations, more than £208 billion – £208,832,921,600 to be precise – would need to be handed over by Norway today to the UK Government. That’s enough to make multi-millionaires of every man, woman and child in the isles.