Forget Monte Paschi, Italy May Have A Far Bigger Problem Tyler Durden's picture

by Tyler Durden Dec 23, 2016 8:00 PM While the metaphorical 'earthquake' of a systemic banking crisis is coming to a head, it appears Italy may have a far more existential problem on its hands. As The Independent reports, one of the world’s most dangerous supervolcanoes is showing signs of reawakening under the Italian city of Naples. The Campi Flegrei may be nearing a critical pressure point necessary to drive an eruption for the first time in 500 years, according to scientists. ADVERTISING Researchers say the volcano is moving towards a threshold beyond which rising magma could spark the release of fluids and gases at 10 times the normal rate. This surge would cause an injection of extremely hot steam into surrounding rocks, Giovanni Chiodini, lead author of the study, told AFP. This could ultimately trigger a “very dangerous” eruption for the three million people living in the area. Since 2005, the Campi Flegrei has been undergoing “uplift”, which is the accumulation of magma under the surface of a volcano. READ more:http://www.zerohedge.com/news/2016-12-23/forget-monte-paschi-italy-may-have-far-bigger-problem