Floods could cost $7bn plus
LONDON, England -- The flooding across central Europe has cost dozens of lives, made tens of thousands homeless and damaged historic buildings in the heart of several cities. (Full story)
And while European insurance companies could face resulting claims of close to 1 billion euros ($989 million), the losses from industries like tourism could be several times higher.
Dresden evacuated as waters rise
DRESDEN, Germany (CNN) -- Central Dresden was being evacuated late Thursday amid fears that a wave might wash over the city after a dam break downstream.
All efforts to save the historic buildings in the city were abandoned, said officials, who expect flooding to reach a peak by 1 a.m. Friday (7 p.m. EDT).
The level of the swollen River Elbe is already well above the predicted peak, and although the dam that broke is downstream of the city, officials expect a rebounding wave to sweep into Dresden. The river has reached heights not seen since 1845.
Prague cleans up as threat continues
PRAGUE, Czech Republic -- Flood waters are continuing to retreat from record levels in some parts of the Czech capital Prague, allowing the clean-up operation to begin and residents to return to their homes.
But the good news on Friday was tempered by spiralling estimates for the economic cost of the calamity. Meanwhile, areas north of the city were braced for more high waters where the Vltava and Elbe rivers meet on their way into southeastern Germany.
Huge cost of Czech floods
PRAGUE, Czech Republic (CNN) -- Floods across the Czech republic will cause billions of dollars of damage to the country's historic monuments and devastate tourism, officials say.
As experts wait for the waters in Prague to recede to assess what architectural treasures have been wrecked, officials warn the sitation in the medieval town of Cesky Krumlov is even worse.
"The town is completely under water," said Zuzana Bluh, spokesman for the Czech embassy in London. "It is doubtful if many of the medieval buildings can withstand the damage."
