ECB narrowly avoids payment disaster after tech issue meltdown

If issue had not been resolved, the following day — the end of the month, and payday for many public-sector workers, pensioners and welfare recipients — the mayhem could have hit millions of people and businesses, and strained the banking system

Turmoil at the ECB on Thursday was linked to a piece of malfunctioning hardware. 

The European Central Bank's (ECB) payments crash last week meant salaries and welfare funds were delayed for thousands of people. It could have been much worse.

If the same disruption had struck, or persisted into, the following day — the end of the month, and payday for many public-sector workers, pensioners and welfare recipients — the mayhem could have hit millions of people and businesses, and strained the banking system.