Pandemic risk: UK expects swine flu cases
EU fears a pandemic in the wake of the Mexican swine flu outbreak
LONDON & BRUSSELS - The outbreak of swine flu believed to have been responsible for killing 103 people in Mexico, and which has triggered a US state of public health emergency, has prompted UK and European Union health ministers to warn that the pandemic is expected to cross the Atlantic.
The US has already confirmed 20 cases across five states. Six cases have so far been confirmed in Canada, with 10 reported in New Zealand, four in France, seven in Spain and one in Israel.
The UK Department of Health says surveillance has been stepped up, with tests continuing on two Britons suffering flu symptoms after returning from Mexico, where pneumonia and respiratory illnesses linked to the virus have claimed 103 lives.
"I think probably we should expect cases given the way this has spread across America. It is sensible that we plan in the assumption that there will be cases," says Justin McCracken, chief executive of the UK Health Protection Agency. "We are already mobilising things in the UK in case the virus comes over here. I definitely think we have enough of the drugs."
The European Commission has already called for an emergency meeting of EU health ministers to be held "as soon as possible" to discuss the implications of the outbreak for Europe.
Virologist claims that a worst-case scenario could cause 120,000 deaths worldwide have reawakened pandemic risk concerns not seen since the spread of Avian influenza - bird flu - between 2004 and 2007.
Bird flu spread rapidly across South-east Asia and eventually to the Middle East, Africa and Europe, with recorded cases in the UK, France, Germany and much of central and eastern Europe.
The pandemic risk of bird flu came ninth in the top 10 operational risk worries of financial services firms in 2007 (see OR&C, December 2007), but in the months since then the financial crisis has overshadowed pandemic risk in firms' op risk priorities.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Technology
FX options: rising activity puts post-trade in focus
A surge in electronic FX options trading is among the factors fuelling demand for efficiencies across the entire trade lifecycle, says OSTTRA’s commercial lead, FX and securities
Dismantling the zeal and the hype: the real GenAI use cases in risk management
Chartis explores the advantages and drawbacks of GenAI applications in risk management – firmly within the well-established and continuously evolving AI landscape
Chartis RiskTech100® 2024
The latest iteration of the Chartis RiskTech100®, a comprehensive independent study of the world’s major players in risk and compliance technology, is acknowledged as the go-to for clear, accurate analysis of the risk technology marketplace. With its…
T+1: complacency before the storm?
This paper, created by WatersTechnology in association with Gresham Technologies, outlines what the move to T+1 (next-day settlement) of broker/dealer-executed trades in the US and Canadian markets means for buy-side and sell-side firms
Empowering risk management with AI
This webinar explores how artificial intelligence (AI) can strip out the overheads and effort of rapidly modelling, monitoring and mitigating risk
Core-Payments for business leaders: why real-time access to payment data is key to long‑term business success
Business leaders require easy access to timely, reliable and complete information across post-trade processes. Aside from the usual requirements of senior managers to optimise for risk, revenues and costs, they increasingly need to demonstrate to their…
Risk applications and the cloud: driving better value and performance from key risk management architecture
Today's financial services organisations are increasingly looking to move their financial risk management applications to the cloud. But, according to a recent survey by Risk.net and SS&C Algorithmics, many risk professionals believe there is room for…
Machine learning models: the validation challenge
Machine learning models are seeing increasing demand across the capital markets spectrum. But how can firms improve their chances of gaining internal and regulatory approval for these type of models?