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Campi Flegrei, increasingly intense tremors but Ingv: no eruption. Here are the risks for the economy

In the area around 500 thousand people live in constant emergency. In January the ECB also became interested in the phenomenon of bradyseism

Campi Flegrei, increasingly intense tremors but Ingv: no eruption. Here are the risks for the economy

Citizens no longer count them. The shock are continuous and fear spreads across an area that affects 500 thousand people. The swarm in the Phlegraean area shows no signs of abating. THE movements earthquakes, with magnitudes between 3.1 and 3.7, are felt not only in Pozzuoli, Bacoli, Bagnoli but also in the Vomero, Chiaia and Fuorigrotta districts of Naples. “Fortunately there is no damage, but we are not very calm,” said the mayor of Pozzuoli, Luigi Manzoni.

The Vesuvian Observatory monitors the situation with the same level of attention reserved for Vesuvius. Experts have excluded links between the telluric movements of the Phlegraean area and the large dormant volcano. However, a documentary broadcast by the Swiss TV channel RSI showed a devastating scenario in the event of an eruption. A threat, according to the television narration, extended to all of Europe.

In reference to the documentary, the National Institute of Geophysics and Volcanology replied that this information has no scientific basis and completely ignores all the important scientific and planning activities carried out by scientists and the Civil Protection, who work side by side. Much attention is paid to evacuation plan and exercises coordinated by the Civil Protection have been planned.

The law decree and the ECB Guide

Naples, Pozzuoli, Bacoli, Monte di Procida, Quarto, Marano di Napoli and Giugliano are the towns listed in the Campi Flegrei decree which delimited the red zone and also allocated 52 million euros. This sum is intended for first emergencies to keep people away in case of irreversibility, especially bradyseism. The complete evacuation of the area according to the latest estimate by IRISS (Institute for Research on Innovation and Services for Development) would cost approximately 30 billion euros.

“Until a few days ago the population was calmer, certainly the repeated tremors with significant magnitudes in the last few hours do not make people feel calm” added Manzoni to theAdnKronos.

In the Campi Flegrei area, 8 earthquakes were recorded from 14 to 242 April, says the latest bulletin of the Institute of Volcanology. The earth shook several times and the maximum magnitude reached was 3.7. “Between 9 and 10 April we recorded a ground rise of 1 centimeter at the Rione Terra station in Pozzuoli,” he explained Mauro Di Vito, director of the Vesuvian Observatory.

Many economic activities are exhausted and we are at the beginning of the seaside tourist season. In the summer months the area is very popular also for its historical and archaeological attractions.

The phenomenon of bradyseism presents an objective complexity from the point of view economical and productive. In January the ECB also became interested in the phenomenon with its "Guide on climate and environmental risks". The document contains an appeal to entities that must equip themselves with governance mechanisms that allow them to effectively identify, manage, monitor and communicate the risks to which they are or could be exposed.

“Anticipations should therefore comprehensively analyze how climate and environmental risks constitute key drivers for different risk areas to which they are or could be exposed, including liquidity, credit, operational, market risks and any other risk relevant to the capital or each of its sub-categories" we read and the European value is obvious for all similar phenomena. At this point we admit a difference between sudden earthquakes and foreseen and predictable phenomena such as bradyseism. A key to understanding that cannot be overlooked here in Naples, after having, of course, guaranteed people's safety.

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