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The scary picture

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Nick

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May 23, 1998, 3:00:00 AM5/23/98
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This is a major issue with banks, who are taking expensive measures to
become Y2k compliant so that payments can be safely made not just within
the UK but across Europe and the rest of the world...Meanwhile I understand
that there may be problems in many of the former Soviet bloc's nuclear
reactors - not just the big Chernobyl ones but also their rusting fleet of
submarines - sounds promising...Happy New Year!


Michael Saunby

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May 23, 1998, 3:00:00 AM5/23/98
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Lets hope it doesn't happen; but does anyone know approx. how much the
clean up, compensation to hill farmers, etc. cost Europe after
Chernobyl? Did all the money come from taxes, or was there any
insurance pay out to those affected?

I expect the banks (and Banks) will make a big effort to ensure their
customers (and nationals) believe they are compliant; otherwise I see
the gold price going up nicely towards the end of 1999.

--
Michael Saunby

Nick

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May 23, 1998, 3:00:00 AM5/23/98
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Michael Saunby wrote
> ...Does anyone know approx. how much the

> clean up, compensation to hill farmers, etc. cost Europe after
> Chernobyl? Did all the money come from taxes, or was there any
> insurance pay out to those affected?

My understanding is that very few if any "events" occuring as a result of
Y2k will be insurable. I believe the underwriters arguments are twofold -
firstly that Y2k is not a risk but a certainty, and the absence of any
track-record makes the calculation of an appropriate premium challenging!
Does any one know any different?

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