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A new report has ranked 196 countries according to their levels of economic risk to natural disasters. Published by Maplecroft, a private risk research firm based in Bath, UK, the report ranks countries according to their economic exposure to hazards, including earthquakes, tsunamis, volcanoes and landslides, along with other factors such as socioeconomic resilience. While the results certainly provide some depth in understanding countries that are most economically vulnerable to hazards, the impact of disasters can hardly be expressed in economic terms alone. Data for the report (from 2005-2010) was derived from the World Bank, International Monetary Fund and the Central Intelligence Agency in the US, according to AFP. Here are the top eleven countries classified as ‘extreme’ and ‘high’ risk’ of paying the greatest economic costs for disasters:
The Financial Services Authority (FSA) recently banned and fined Northern Rock’s former finance director, David Jones, £320,000 for the misreporting of mortgage arrears that started mid-January 2007. The role of Northern Rock was certainly central in the recent financial crisis, but to what degree is not fully understood. If there was no Northern Rock would a financial crisis have occurred at all? And how did the misreporting of mortgage arrears lead to its collapse? Read more