It's amusing watching journalists over here trying to dredge up horror
stories concerning the Euro. Most of the transactions that were in
FFR, DEM, IEP's and so on up until last week will be in Euro's from
this week, with 4 days interval in between to switch over umpteen
software systems.
There was one story at the Banque de France something like this:
"So you only have four days to switch everything over to Euro's.
That's not nearly enough time, right?"
"Actually we're done."
"But wait, there's no time to get ready and the shit will hit the fan next
week, huh?"
"We had to work on holidays but we finished the 'bascule' on Saturday."
...
Similarly at Banque Nationale de Paris:
"So how's your Euro conversion going? The sky is really going to
fall on our heads isn't it? Can you describe the main problems?"
"There aren't any problems."
"Hell, gimme a story man. I'm desperate!"
"We really haven't encountered anything in particular."
...
Heh. Now they've switched to stories about how huge the bonuses for
working over the New Year were, how the banks commandeered 4-star
hotels over the holidays for their employees and hired top-notch
"traiteurs" to deliver unreasonably scrumptious grub to their desks...
RJH