Poland Asks EU to Finalize Flood Aid for Germany
Polish Prime Minister Donald Tusk has called on the European Union to ensure that financial aid to help Germany rebuild after the floods is finalized as quickly as possible.
He expressed his condolences to the victims during a visit to the German town of Magdeburg, one of the areas worst hit by the floods. German Chancellor Angela Merkel is due to meet the heads of Germany's 16 states to discuss the situation.
EU Commission to Vote on Aid in September
The European Commission is expected to vote on the aid package at the end of September. A spokesman from the commission told the BBC that the EU solidarity fund had been activated. "A needs assessment mission is being sent to Germany as quickly as possible to evaluate the damage on the ground and thus determine the financial assistance the EU can provide," he said.
€8 Billion in Damages, Says Insurance Industry
The German Insurance Association (GDV) has estimated that the flood damage will exceed €8bn ($11bn). It will pay out €5.5bn of the total, saying it would be the industry's largest ever single loss in Germany.
GDV's chief executive, Hasso Plattner, said that the industry was facing an "enormous challenge". "The dimension of the losses in the private sector, in the commercial sector and also in the public sector surpass anything that we have seen in the past," he said.
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