In an interview to be broadcast early next week, Mr Grimsson told the Newsnight programme's Joe Lynam that his country was surrounded by an arc of successful, small nations in the North Sea, who were all doing relatively well.

BBC: Olafur Grimsson

Now, small businesses like ARC Energy have created roughly 65 percent of all new jobs over the past decade and a half.

WHITEHOUSE: President Obama Holds a Town Hall in New Hampshire