The major fear is that if this volcano erupts in a big way and a much of the mountain slides into the sea, we could be seeing waves over 200 feet high along the African continent shore closest to the Canary Islands, the city of Lisbon would be threatened with waves over 100 feet high, and the entire US East Coast could face a tsunami about 25-28 feet high, threatening millions of lives and potentially costing over US$10 TRILLION in damages.
Interesting info I did not know...
Largest quake yet about an hour ago...and at 10km
http://www.emsc-csem.org/Earthquake/earthquake.php?id=238439
... the city of Lisbon would be threatened with waves over 100 feet high ...
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Interestingly enough, it was a tsunami which ended the Portuguese Empire in 1755. The tsunami wiped out the royal archives where all the navigation maps and charts were stored (the then eyes only, top secret stuff).