Continued eruptions from Icelandic volcano would mean higher prices, devastated tourism

Simon Tilford, chief economist of the Centre for European Reform, put such breakdowns in the category of "inconveniences" rather than "an existential threat," even under the worst-case scenario. "There's no doubt it would be very disruptive if it went on for that long. But I don't believe, unless it was a complete blanket on civilian air travel, that the impact on the economy will be that grave." he said. "Europe is not a particularly trade-dependent economy," said Tilford. …"The longer it goes on, the more time we have to find alternative ways of doing things," he said.