EU watchdogs call for disaster-relief fund in wake of Valencia floods

Q: How long will it take to read this news story?

The story "EU watchdogs call for disaster-relief fund in wake of Valencia floods" has 672 words across 21 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "EU watchdogs call for disaster-relief fund in wake of Valencia floods" was covered 15 hours ago by Financial Times, a news publisher based in United States.

Q: How trustworthy is 'Financial Times' news outlet?

Financial Times is a fully independent (privately-owned) news outlet established in 1888 that covers mostly markets, finance, and investing news. The outlet is headquartered in United States and publishes an average of 9 news stories per day. It's most recent story was published 8 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #24538047</li><li>URL: https://beamstart.com/news/eu-watchdogs-call-for-disaster-17345335093780</li></ul>

Financial Times 15h ago

EU watchdogs call for disaster-relief fund in wake of Valencia floods - Financial Times

Quick Summary:

The EU already has a Solidarity and Emergency Aid Reserve to provide funding to countries hit by severe natural disasters and this year Brussels said its maximum annual budget would be increased from €1.2bn to €2.7bn.

Hielkema told the FT recently there was growing support among politicians in Europe — the world’s fastest-warming continent — for national risk-sharing schemes to cover natural catastrophes.

The EU should create a taxpayer-funded disaster relief fund and a publicly-backed reinsurance scheme to fill the growing gap for insuring against natural catastrophes such as floods and wildfires, regulators have said.