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To: Bobby Yellin who wrote (4782)	12/26/1997 8:11:00 AM
From: Gary H	Read Replies (2) \| Respond to of 116753

Bobby, biz.yahoo.com

To: Bobby Yellin who wrote (4782)	12/26/1997 9:08:00 AM
From: Jaakko	Read Replies (1) \| Respond to of 116753

IMHO Emu is going to get posponed till 2002 or beyond to allow time and resources to fix the Y2K Bug first. Companies and politicians will soon start to grasp the magnitude of the Y2K Bug, the limited IT resources available and the fast approaching deadline. Risk of economic and financial chaos in the world is just too big to try to do too many things at the same time and doing none of them well!!! The current turmoil that started in Asia is spreading all over the world at an unprecedented speed and will hit as hard as early as 1998. The huge derivative market will be scaled down considerably or wound down totally in some markets the closer we get to year 2000. Participants will think twice before entering into contracts with transaction dates straddeling 1/1/00!!! I found the following on the Y2K thread, and pardon me if it has been posted before: With all the hedging and political dickering about European Monetary Union, many UK companies have not surprisingly decided to sit back and do nothing about the IT changes required, hoping the whole mess will go away. The planned initial implementation date is 1st January 1999. Between 1999 and 2002 both national currency and EMU will need to be supported. Changes to IT systems are required, with resources already stretched to breaking point with Year 2000 changes. ------------------------------------------------------------------------ Question: Will merging the EMU and the Year 2000 projects save resources ? Answer: No. These two projects are completely dissimilar. Year 2000 requires IT internal changes to programs and data, and is a conversion project. EMU is primarily a business change, and as such follows the normal development cycle of user and business analysts to systems analysts to programming and testing to operations. Some of the same programs may require changing, but this should be done at different times. This complicates the project control issue, rather than simpifying it. If a good test bed is developed for Year 2000, there may be some beneficial spin-offs for the EMU project, as test data and procedures can be re-used. ------------------------------------------------------------------------ Question: Do you think the EMU is a good thing ? Answer: Unfortunately, while the EMU itself is eminently sensible, politics are continuing to drive this through. And even if it does achieve a small measure of success, the financial and economic instability in 2000 because of the impact of Y2K will push it down. EMU may well collapse completely, as European currencies are going to be subject to wild and erratic fluctuations, depending on member states degree of Year 2000 readiness, and hence devalue and imperil the EURO. ------------------------------------------------------------------------ Question: Any suggestions ? Answer: Produce a quick impact analysis report, and lobby your MP or MEP to have this date put back to 2002 or until you've recovered from the year 2000 work and "caught-up" with normal IT business. This may be as late as 2004-2005, and a couple of years will then be needed for the modifications. Unfortunately it's probably too late. This is yet another case of politics having not the slightest regard for the business or people that pay its wages. * Newsflash * 27th October 1997 * Gordon Brown, Britain's chancellor, announced today that Britain will not be entering the EMU until well within the next parliament. This will not be until 2002 at the earliest. Now it's for other European countries to come to their senses, and follow Britain ASAP. Certainly by June 1998, Y2K awareness will have grown to the stage where it will be obvious even to politicians that EMU cannot be done in the same time-frame. * End of Newsflash *** elmbronze.demon.co.uk