The hot summer cost EU countries 43 billion euros.

Heatwaves, hot waves, and floods this summer have cost the European Union around 43 billion euros, reducing the region's economic output by almost half a percentage point, according to a study published earlier this week. Drastic decline: The corn harvest in Dobrudja started with 215 kg/ha. The same study estimates that the consequences of the events this summer will cause cumulative damage to the European economy of around 126 billion euros by 2029. "These estimates are likely conservative," according to the study's authors—Serish Usman from the University of Mannheim, and Miles Parker and Mathilde Vallat, economists from the European Central Bank. Extreme weather events are becoming more frequent as greenhouse gases warm the world. In 2024, natural disasters, including the devastating floods in Spain, have destroyed assets worth 31 billion dollars in Europe, according to the insurance company MunichRe. "Climate change has increased the frequency and intensity of extreme weather ...