Thousands of people have been evacuated from their homes in a region of eastern Germany where the Elbe river has flooded and burst through a dam, officials said Sunday.

n Hungary, officials said the flooded Danube River was expected to reach Budapest late Sunday but that defenses should keep the water out of most of the capital.

Europe may face another financial crisis as nation like germany which bailing out other euro nations may face severe fund crunch as money may go for rehabilitation.