Japan: Tepco failed to act on risk assessment of tsunami
Date: 20 Oct 2011
Tokyo Electric Power Co. was told five years ago that there was a 10 percent chance of a major tsunami event, but failed to act on the information.
The assessment was undertaken using a new methodology which considerably increased the likelihood of a major tsunami hitting the Fukushima plant. An un-named nuclear expert at the company told the Japan Times that Tepco did not take countermeasures because it did not want to worry local residents, and feared consequences for other electric power companies.
Although the risks of a tsunami strike were put at 10 percent, the probability of a tsunami of more than 10 meters that could cause a possible nuclear meltdown were put at less than 1 percent.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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