Wildfires Spread Across Southern Europe

Summary

Bloomberg's Paul Tugwell reports on severe wildfires across southern Europe, particularly Greece, where gale-force winds and difficult terrain are straining firefighting resources. European Union countries are coordinating cross-border aid as climate change extends the wildfire season. The discussion touches on the economic toll, noting that compulsory insurance in Greece may face rising premiums, though it's too early to quantify the full cost.

• Greece faces a very difficult wildfire day with gale-force winds and dry conditions pushing firefighting to limits.
• EU member states coordinate firefighting resources, with Greece recently sending aircraft to Spain.
• Mountainous terrain and single-lane roads complicate ground and air firefighting efforts.
• Compulsory fire insurance in Greece means insurers are accustomed to claims, but premiums may rise with increased fire frequency.
• AXA CEO Thomas Buberlethwait states the company has managed past events and absorbed costs, though total damage is yet unknown.