As a result of climate change and significant wetland loss, floods have re-emerged as an important natural hazard concern in central and northern Europe during the last few decades. Global climate change and wetland loss are expected to increase the frequency and extent of floods in the future (Nichols et al. 1999). Increasing frequency and extent of floods in turnwill cause significant changes in current land use and population patterns, and will impose significant economic damages. Even though floods in Europe have almost insignificant effects in terms of loss of human life, economic costs associated with flooding, such as damages to infrastructure and production, are high and ever-increasing.