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5 year oldMore than 80% of the city, a Unesco world heritage site, was under water when tides were at their highest.
Italy's Prime Minister Giuseppe Conte described the flooding as "a blow to the heart of our country".
He said the government would now act quickly to provide funds and resources.
"It hurts to see the city so damaged, its artistic heritage compromised, its commercial activities on its knees," Mr Conte, who visited the region late on Wednesday, wrote in a Facebook post (in Italian).
He said the government would "accelerate" the building of structural defences for the lagoon city, referring specifically to the so-called Mose project - a hydraulic barrier system to shut off the lagoon in the event of rising sea levels and winter storms.
The prime minister said he was declaring emergency measures on Thursday, adding that individuals could claim up to €5,000 (£4,300; $5,500), and businesses up to €20,000, in compensation.
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