History of Norway company by 1985, just to go bankrupt by 1993. Unemployment reached record-high levels in the early 1990s. By 1990 Norway was Europe's largest oil producer and by 1995 it was the world's second-largest oil exporter. Membership in the European Union was rejected in a 1994 referendum, with Norway instead joining the European Economic Area and later also the Schengen Area. Large public investments in the 1990s were a new National Hospital and Oslo Airport, Gardermoen—connected to the capital with Norway's first high-speed railway, the Gardermoen Line. A number of large government companies, such as Statoil, Telenor and Kongsberg were privatized.
Flag of Norway Flag of Norway The flag of Norway () is red with an indigo blue Scandinavian cross fimbriated in white that extends to the edges of the flag; the vertical part of the cross is shifted to the hoist side in the style of the "Dannebrog", the flag of Denmark. It is difficult to establish what the earliest flag of Norway looked like. During ancient times countries did not fly flags. Kings and other rulers flew flags, especially in battle. Saint Olav used a serpent within a white mark at the Battle of Nesjar. Prior to this the raven or dragon