Most large organizations are nearing completion of BIS Review 74/1998  -7-  the renovation of their mission-critical systems and are vigorously testing those that have been renovated. Smaller organizations are working closely with their service providers in an effort to confirm that the efforts under way will assure the readiness and reliability of the services and products on which they depend.
Arguably these exacerbated the periodic sterling crises that hobbled Britain in those years as much of the remnants of its empire endeavored to reduce their heavy reliance on holding sterling assets as central bank reserves and private stores of value. The experience of Britain's then extensively regulated economy provides testimony to the costs of structural rigidity in times of crisis.