"Y2K Panic may hit home-owners" (Denmark)greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
"Boersen", the Danish financial newspaper, had a HUGE headline on the FRONT page of its 'Finance' section today; I'm a complete ignoramus in the financial area, but the increasing prominence of stories like these makes me think that this the start of a rollercoaster ride. The exact problems may be peculiar to the Danish hom-loan system, but I imagine there must be equivalent effects elsewhere (my translation of the introductory paragraph):
NEW-YEAR RATE PLUNGE THREATENS HOME-OWNERS: A bond market that is paralysed over the new year, for fear of Y2K problems, may come to cost home-owners dearly.
The bond market will be set on 'pilot light' around new year, because the banks are afraid of computer Y2K problems. So financial institutions are dissuading their customers from paying off loans, in the days around new year. There is a risk of a large rate drop in the new year's market. That could cost home-owners, involved in a loan transaction, many thousands of kroner (Danish currency).
-- Risteard Mac Thomais (email@example.com), December 20, 1999
Thanks for the info!
-- (firstname.lastname@example.org), December 20, 1999.
"There is a risk of a large rate drop in the new year's market. That could cost home-owners, involved in a loan transaction, many thousands of kroner (Danish currency)."
Could someone Interpret this for me?
-- Tommy Rogers (Been there@Just a Thought.com), December 20, 1999.