By Janis Laizans and Radovan Stoklasa
Poland's historic city of Wroclaw is facing devastating floods, with the death toll rising to 21 in central Europe. Rivers are overflowing in the Czech Republic, Hungary, Austria, and Romania, causing widespread destruction.
The Czech-Polish border areas are among the worst-hit, with historic towns being ravaged by gushing rivers. The death toll includes seven in Romania, six in Poland, five in Austria, and three in the Czech Republic. Thousands of households in Czech and Poland are without basic amenities like power and fresh water.
Wroclaw is bracing for the peak water levels along the Oder river, with evacuation plans in place. The city zoo is seeking volunteers to protect animals, while efforts are being made to secure important archives and buildings.
Authorities in Poland are taking measures to prevent a repeat of the disastrous 1997 floods by filling a giant reservoir near the Czech border. Military helicopters are being used to reinforce embankments and protect vulnerable areas.
In neighboring Czech Republic, thousands have been evacuated, and aid is being delivered to areas cut off by floodwaters. The damage across central Europe is estimated to be in the range of several hundred million to over one billion euros.
The financial impact of the floods is significant, with billions of crowns in damages expected. Insurance associations are already estimating millions in losses, while Hungary prepares for record-high water levels along the Danube.
Overall, the floods in central Europe have caused widespread devastation, with financial losses mounting. Investors and financial markets are closely monitoring the situation, as the aftermath of these floods could have far-reaching consequences on the economy and investment opportunities in the region.