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The U.S. official responsible for Y2K readiness said Sunday he is confident there will be no catastrophic computer breakdowns but is concerned public reaction to any small problems could provoke economic crises.

“If we got a panic we could … create a shortage of all sorts of things as we go forward – either food, gas, pharmaceuticals,” John Koskinen, the White House Y2K coordinator, said on CNN’s “Late Edition.”

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