Iceland: Expected volcano eruption under ice cap triggers alarm bells

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A red alert to aviation has been issued by Iceland over threat of a possible eruption under the country's largest glacier, the Vattnajokull, BBC reported.

Seismic activity was observed at the Bardarbunga volcano and airspace over the site has been closed. An eruption would be followed by flooding, authorities have previously said. Geologists said around 300 earthquakes have been detected in the area since Aug. 19. A major airspace closure followed the 2010 Eyjafjallajokull eruption, causing losses of between €1.5 billion ($2 billion) and €2.5 billion ($3.34 billion).

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