Flooded Venice has been hit by a new high tide of five feet giving residents no respite from a crisis costing Italy millions of euros. World-famous St. Mark’s Square, a magnet for tourists, has been closed, and schools are shut for a third day. The canal city’s famous waterbuses are not running. On Tuesday, the water was at the highest level in more than 50 years, damaging monuments, shops and homes. More than 80% of the city was flooded. The government declared a state of emergency in the Unesco world heritage site. Residents with flood-damaged homes have been promised compensation.