Putting out a potential economic fire

With the eruption of the Iceland volcano the world has witnessed the economic cost of not having an answer to a very straightforward question. How much is too much? In the absence of certainty about an acceptable amount of atmospheric ash European authorities grounded air traffic at an estimated cost of $3 billion. Three weeks later following 100 000 cancelled flights European air travel is still affected and authorities have begun to examine the economic consequences of an unexpected environmental event . . .

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