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Key also said the expected economic cost of the earthquake saying was "in the order" of NZ$20 billion ($15 billion). Analysts had earlier put the cost at up to $12 billion. He has vowed that Christchurch will be rebuilt, and to building standards that can withstand major earthquakes. Many of the buildings that collapsed or were badly damaged were built before New Zealand upgraded building codes to guard against quake damage in the 1970s. Key said long-term measures being considered include an extra levy on all householders under New Zealand's compulsory quake insurance system to raise the estimated $4 billion needed to cover an insurance shortfall. A rise in the levy was not immediately announced. Two minutes of silence will be observed on Tuesday, exactly one week after the disaster struck. Engineers and planners say the city's decimated central area may be completely unusable for months to come and that at least a third of the buildings may have to be razed. Steve McCarthy, the district council's chief engineer, said all buildings downtown in Christchurch met with the minimum requirement of international construction standards, but this was not enough to cope with the power of an earthquake as close and shallow as last week's temblor. "It vertically lifted the ground and buildings and then dumped them back on the ground at two times the force of gravity," McCarthy said. "Consequently the buildings have failed, and it couldn't have been expected and it certainly wasn't designed for it." Power and water supplies were gradually being restored to the city, though the clean-up efforts were being hampered by heavy layers of silt thrown up by the quake that are now caking in many places.
[Associated
Press;
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