1) Yeah. that's what I said. €1 billion/year just on adaptation.
2) Scientists expect somewhere between 2-6 feet of sea level rise by 2100. Models show something closer to the low end (see Pfeffer et al. 2008; Horton et al. (2008)), but they assume no changes in ice sheet dynamics, which is known to be an iffy assumption (Overpeck et al., 2006). Empirical techniques show something closer to the high end (see Grinsted et al., 2009; Rahmstorf, 2007; Vermeer and Rahmstorf, 2009). Planning for 4.5 is not really all that cautious.