Greatest damage from heat, drought and flooding done in Cyprus, Greece, Malta and Bulgaria The violent weather that battered Europe this summer caused short-term economic losses of at least €43bn, according to an EU-wide estimate, with costs expected to rise to €126bn by 2029. The immediate hit to the economy from a single brutal summer of heat, drought and flooding amounted to 0.26% of the EU’s economic output in 2024, according to the rapid analysis, which has not been submitted for peer review but is based on relationships between weather and economic data that were published in an academic study this month. Continue reading...