[driggs]

The volume of water displacement from a volcanic landslide is orders of magnitude less than that displaced by undersea fault quakes; while it could trigger a "local" tsunami that could impact the African or European coast, it would certainly not be in the same category as a "big one", nor very significant for North America.

Consider that the displaced water from this point event would radiate out in 360 degrees from the Canaries, dissipating with the square of distance traveled.