By David Latona and Charlie Devereux
ALFAFAR, Spain (Reuters) – Spanish rescuers opened a temporary morgue in a convention centre and battled to reach areas still cut off on Friday as the death toll from catastrophic floods rose to 205 people in Europe’s worst weather disaster in five decades.
In Valencia, the eastern region that bore the brunt of the devastation, at least 202 people have died, regional authorities said. Three have died in Castilla La Mancha and Andalusia.
The number of dead is now almost level with the 209 who died during heavy floods in Romania in 1970. Floods in Portugal in 1967 killed nearly 500 people.
Some 500 soldiers were deployed to search for people who are still missing and help survivors of the storm, which triggered a fresh weather alert in Huelva in southwestern Spain.
The death toll is likely to keep rising, with dozens of people still not accounted for, Angel Victor Torres, minister in charge of cooperation with Spain’s regions, told a press conference late on Thursday.
With about 75,000 homes still without electricity, firefighters were siphoning petrol from cars that had been abandoned in the floods to power generators to get domestic supplies back on.
“We’re going from car to car looking for any petrol we can find,” said one firefighter who had traveled to Valencia from the southern region of Andalusia to assist rescue efforts, carrying a plastic tube and empty bottles to collect the petrol from the cars’ tanks.
A year of rain fell in just eight hours on Tuesday night, destroying roads, railtracks and bridges as rivers burst their banks.
Analysis:
The catastrophic floods in Europe have not only resulted in a devastating loss of lives but have also caused significant damage to infrastructure and property. As an investor, it is important to consider the implications of such natural disasters on the economy and financial markets.
The aftermath of the floods could lead to increased government spending on reconstruction efforts, which could boost certain sectors of the economy such as construction and materials. On the other hand, disruptions to supply chains and transportation networks could negatively impact businesses operating in the affected regions.
Furthermore, insurance companies are likely to experience a surge in claims, which could affect their profitability and stock prices. It is crucial for investors to stay informed about the evolving situation and its potential effects on various industries and companies.
In conclusion, while the immediate focus is on rescue and recovery efforts, the long-term financial implications of the catastrophic floods in Europe should not be overlooked. Stay vigilant, stay informed, and consider adjusting your investment strategy accordingly.