Lesser economies are at severe risk as they will
be some of the first to lose liquidity in flight to
quality or liquidation situations. Individuals in
these economies are at risk of events far worse
than the Asian crisis of 1997.

- - -

The de-monetisation of economies or extreme
currency swings are possible for many
economies globally. One investor option is
holding what may be more stable currencies or
gold as a store of value.

International Monitoring

-- spider (spider0@usa.net), December 07, 1999

Answers

Y2K may close Turkish banks, markets on Dec 31

ANKARA, Dec 6 (Reuters) - Turkey's State Planning Institute said on Monday it had advised the government
to close all financial institutions for a half-day on
December 31 to back up systems ahead of the millennium
transition.

Fifty of Turkey's 67 ports were likely to experience
Y2K problems

The main computer systems at state power producer TEAS
and state electricity distributor TEDAS were not millennium
compliant

Twenty-one percent of state telecommunications firm Turk
Telekom's billing system was not millennium compliant

Some computer applications at airports were not millennium
compliant

-- spider (spider0@usa.net), December 07, 1999.

Herstatt risk.

-- Mitchell Barnes (spanda@inreach.com), December 07, 1999.

Thanks Spider. Got a link to the Turkey Banking article?

on de rock

-- Walter (on de rock@northrock.bm), December 07, 1999.

Turkey to Halt Bosphorus Traffic Over

-- spider (spider0@usa.net), December 07, 1999.

Ahhg! Too many windows opened.

http://infoseek.go.com/Content?arn=a2361LBY735reulb-19991206&qt=y2k&sv =IS&lk=noframes&col=NX&kt=A&ak=news1486

-- spider (spider0@usa.net), December 07, 1999.

I keep on reading in articles relating to financial matters pertaining to y2k the term "flight to quality" could someone please explain to me what it means. Thanks

-- Rich (rubeliever@webtv.net), December 07, 1999.

'Flight to quality' means that as financial conditions change, investors sell off assets they perceive as risky to buy assets they perceive as safer, i.e., sell stocks and buy bonds when the market appears to be faltering.

Kook

-- Y2Kook (y2kook@usa.net), December 08, 1999.