The Year 2000 itch
Die Welt reports on the risk of major damage when the dates are changed due to computer errors
Die Welt by Harald Posny
“On 1 January 2000, a Saturday, the mainframe computers of all German banks will unlock the doors to their counter areas and vaults, because for the computers, it will be a Monday. On top of that, the balance on newer accounts will be charged interest for 100 years. These scenarios, which according to Peter E. Rasenberger, CEO of the Düsseldorf consultancy Compartner, are not nightmare visions but “naked reality”, are meanwhile causing the management of German companies to rub their eyes in disbelief. Even direct insurers are tending to ignore the “millennium bug”. As Rasenberger says, “The closer the immovable moment draws, the more nervous the companies are becoming. If they had the choice, they would bring all their retired programmers out of retirement. But that wouldn’t solve the problem.” Umpteen million working hours would be necessary to convert all the dates. Estimates of the costs involved range from 350 million to 1.1 billion marks worldwide. But the potential damage from shutting down production, from product, public and occupational liability is even greater: It easily adds up to three billion marks.”