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Systemic Risk - One blackout too many?

news alert (excerpt)

London, UK - 29 September 2003, 17:30 GMT - On Sunday 28th October, 57 million people across Italy as well as parts of Switzerland and Austria were plunged into darkness for several hours. As night fell, residents in major cities in Southern Italy were still without electricity. In Scandinavia, five million residents in Denmark and Sweden were without electricity on 23rd September for over four hours. The rush hour blackouts, which affected four million people in London on 28th August and 50 million people on the East coast of America on 14th August exactly two weeks earlier, were presumed to be isolated incidents.

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