Friday, 18 July 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Week of tremors exposes dangers of Santorini's construction boom
Friday, 7 February 2025 23:57 WIB | GLOBAL ECONOMIC |Yunani

Hundreds of small earthquakes that shook Greece's tourist hotspot of Santorini this week have revived concerns about the safety of a decades-long construction boom along the island's sheer, volcanic cliffs, experts said.

No serious damage has been reported, but scientists have warned that the seismic activity could last for weeks and have not ruled out the possibility of a larger quake to come.

That worries experts, some of whom have long questioned the sustainability of turning the small island of quaint villages into one of Europe's most popular holiday destinations.

"They wanted to develop the island and didn't pay attention to environmental and safety issues," said Dimitris Papanikolaou, professor of geology at the University of Athens and former head of Greece's Earthquake Planning and Protection Organisation.

The result, he said, was clear today: luxury hotels with pools and jacuzzis hanging off Santorini's landslide-prone slopes, where the volcanic soil is soft and unstable.

"Nothing should have been built in this zone," Papanikolaou said. "It's a danger zone for as long as the seismic activity lasts."

The tremors prompted the government to declare a state of emergency on Thursday. It shut schools, deployed the army. Meanwhile, thousands of people left on planes and ferries.

Authorities announced landslide warnings for five areas, including Santorini's main port, and cordoned off areas along the caldera - the rim of an ancient, sunken volcano whose sides plunge into the clear waters of the Aegean.
Excessive tourism has raised concerns about water shortages and overcrowding across Greece in recent years. But Santorini is an extreme example. Millions visit its whitewashed cobbled streets and blue-domed buildings each year.

Natural disasters are not new to the island, which was formed by a volcanic eruption in 1600 BC and which experienced a devastating earthquake in 1956. A modern building boom began in the 1980s to lure back tourists.

Even before the latest earthquakes, experts called for studies to assess whether buildings needed reinforcements.

In 2021, a report by the Hellenic Society for Environment and Cultural Heritage commissioned by the island's authorities said there was an urgent need for a soil engineering study to assess the safety of the buildings on the caldera.

Citing data from the Technical Chamber of Greece, it found many buildings had no permits, nearly a quarter of which where tourism businesses.

"It is crucial...to immediately check the arbitrary construction taking place within the caldera," the report said.

The environment ministry halted construction on the caldera in November for a year and has obliged owners to complete risk assessments or face having permits removed, said Dimitris Bakoyiannis, its secretary general for spatial planning and urban environment.

Prime Minister Kyriakos Mitsotakis urged calm when he visited the island on Friday and defended construction standards in an interview with Reuters.

"We have a very strict building code which is applied across the country, especially in those areas that are more earthquake prone," he said. "That's why we feel very, very confident that everything that could be done, has been done."
Many residents have become used to earthquakes over the years, even if the past week has been extreme. But they do worry about the upcoming holiday season, which begins in May.

Mathaios Kourgialis, who owns a small hotel at the top of the caldera, has received several cancellations this week.

"If we continue for another couple of months with this situation, the season will be lost," he said.(Cay) Newsmaker23

Source: Investing.com

RELATED NEWS
Trump Plans Uniform Tariff Letter for Over 150 Countries...
Thursday, 17 July 2025 07:41 WIB

President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that gro...

Fed's Logan says her base case calls for holding rates steady a while longer...
Wednesday, 16 July 2025 07:43 WIB

The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of upward pressure from the Trump administration's tariffs,...

Trump to Impose Tariffs of Over 10% on Smaller Nations ...
Wednesday, 16 July 2025 07:15 WIB

US President Donald Trump plans to impose tariffs of over 10% on smaller countries, including nations in Africa and the Caribbean, as the Associated Press reported. "We'll probably set one tariff for...

Trump Threatens 100% Secondary Tariffs on Russia ...
Tuesday, 15 July 2025 08:11 WIB

President Donald Trump warned on Monday that he would impose secondary tariffs of 100% on Russia if a peace deal with Ukraine isn't reached within 50 days. "We are going to be doing very severe tariff...

EU Extends Tariff Pause as Trump Threatens 30% Import Levy ...
Monday, 14 July 2025 07:23 WIB

The European Union announced on Sunday that it will extend its suspension of countermeasures to U.S. tariffs until early August, aiming to pursue a negotiated settlement. This comes after President T...

LATEST NEWS
Japan Shares Set for Weekly Gains

The Nikkei 225 Index rose 0.3% to 40,034, while the broader Topix Index also climbed 0.3% to 2,847 during Friday morning trading, marking the second straight session of gains. The advance followed a rally on Wall Street on Thursday, supported by...

Oil Holds Gain as Traders Weigh Signals of Near-Term Tightness

Oil held a gain after US data showed the world's largest economy holding up despite the fallout from the Washington-led trade war, while crude market metrics pointed to near-term tightness. Global benchmark Brent traded above $69 a barrel after...

Fed's Waller wants July interest rate cut amid rising growth, job market risks

Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation...

POPULAR NEWS
US consumer prices rise in June as tariff pass-through begins
Wednesday, 16 July 2025 01:35 WIB

U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...

European stocks erased early gains
Wednesday, 16 July 2025 01:49 WIB

European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...

Asia markets open mixed as investors await key China data
Tuesday, 15 July 2025 07:56 WIB

Asia-Pacific markets are set to open higher on Tuesday as investors appear to look past U.S. President Donald Trump's on-again-off-again tariffs and...

Investors seek protection from risk of Fed chief's ouster
Tuesday, 15 July 2025 23:28 WIB

President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...