The history of the small hamlet of Falcon Island in the valley of the Romanche threatened to disappear owing to its location at the foot of a mountain whose imminent collapse has been announced for twenty years by experts illustrates the deep change in a long-lasting relationship between a given territory and the natural risks to which it is exposed. But before the predicted catastrophe occurs some of its effects can be observed. The crisis arises indeed as soon as the risk is announced, thus revealing several aspects that proceed, according to some authors, from a “risk society”.