6.3 Earthquake Damages City

On February 22, 2011 there was a 6.3 magnitude earthquake that hit Christchurch, New Zealand. The death toll is said to be at least 65 people. The earthquake’s epicenter was located deep under ground about 6 miles from ChristChurch. To make matters worse, there were many aftershocks, some nearing 5.5 magnitude.  And that wasn’t all, a part of a New Zealand’s biggest glacier broke off causing big waves at a lake close by. Much of the damage is still being cleaned up today. Estimates have it that nearly $3 billion in damages were caused. Many companies, bankers, and investors are moving out of the city due to their buildings having been destroyed. It will take a while for the economy to recover and me being a business major knows that people are going to struggle.

Sources: 1. bloomberg.com 2. bbc.co.uk

Michal P.

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