AN EARTHQUAKE warning has been issued for Santorini with schools closed on the holiday island.

The Greek paradise has been rocked by a series of small quakes leading authorities to take precautionary measures.

They have shut schools on Monday and advised people on the island to avoid two small ports and refrain from gathering in indoor spaces.

Big cruise ships often anchor near the Old Port of Fira, with passengers being brought to shore on smaller boats.

A series of submarine tremors up to a 4.3 magnitude were registered on Friday and Saturday in the area between the volcanic island of Santorini and Amorgos.

On Sunday morning, earthquakes measuring between 2.8 and 4.5 hit the area but no damage has been reported.

The quakes hit northeast of Santorini at a depth of about 4km, revised data from the geodynamic institute of the national observatory of Athens showed.

The last eruption in the area occurred in 1950.

The Minoan eruption, one of the largest volcanic eruptions in history in around 1600BC, formed the island in its current shape.

Santorini sits in the middle of the Aegean Sea Plate and close to an active volcanic arc that runs between Greece and Turkey across the Aegean.

Between 2011 and 2012, there were a series of earthquakes after magma moved below the surface.

Big eruptions are only expected from the volcano every 22,000 years – giving another 19,000 to go until a big one is expected.