Paris Floods: A Local Disaster, A Global Challenge

By Rolf Alter. A major flood similar to 1910 would have direct and indirect impacts on nearly 5 million citizens, many companies and the life of the city for several months. In a 2014 OECD report, Seine Basin, Île-de-France: Resilience to Major Floods, the economic damage of a major flood in the Paris region was  estimated at a minimum of EUR 3 billion up to a staggering EUR 30 billion for direct damage. The significant macroeconomic impact in terms of GDP, jobs lost and public finances also need to be taken into account. More...