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| EU to lose up to €100 billion due to vaccination failures, wary investors & no sign of reopenings – media | |
| (32 minutes later) | |
| The European economy reportedly risks losing tens of billions of euro, as the slack pace of its anti-Covid inoculation program causes serious concern among investors over potential growth and poor progress in business re-openings. | The European economy reportedly risks losing tens of billions of euro, as the slack pace of its anti-Covid inoculation program causes serious concern among investors over potential growth and poor progress in business re-openings. |
| Distribution of vaccines across the European Union has been severely hampered by political divisions, supply disruptions, bureaucratic delays, an by plain public distrust. The single-currency bloc has administered eight doses per 100 people, compared to 33 shots for Britain and 25 for the US, Bloomberg’s Coronavirus Vaccine Tracker shows. | Distribution of vaccines across the European Union has been severely hampered by political divisions, supply disruptions, bureaucratic delays, an by plain public distrust. The single-currency bloc has administered eight doses per 100 people, compared to 33 shots for Britain and 25 for the US, Bloomberg’s Coronavirus Vaccine Tracker shows. |
| The protraction inevitably holds back business resumption – services and tourism in most member states remain largely closed due to quarantine measures. According to the latest estimates by Bloomberg Economics, a delay of another month or two may cost the economy of the region between 50 billion and 100 billion euro in lost output. | The protraction inevitably holds back business resumption – services and tourism in most member states remain largely closed due to quarantine measures. According to the latest estimates by Bloomberg Economics, a delay of another month or two may cost the economy of the region between 50 billion and 100 billion euro in lost output. |
| In recent weeks, European investment funds have recorded major capital outflows. Meanwhile, Bank of America and BlackRock Investment issued warnings over the growing number of Covid-19 cases in Europe, which reportedly could disrupt the long-term strategies of investors. | In recent weeks, European investment funds have recorded major capital outflows. Meanwhile, Bank of America and BlackRock Investment issued warnings over the growing number of Covid-19 cases in Europe, which reportedly could disrupt the long-term strategies of investors. |
| “The Europeans desperately need to accelerate the pace of their vaccine rollout if they want to get a handle on the virus. Bureaucracy and confused messaging from governments has weighed on the process,” Seema Shah, the London-based chief strategist at the $544-billion-managing Principal Global Investors, told media. | “The Europeans desperately need to accelerate the pace of their vaccine rollout if they want to get a handle on the virus. Bureaucracy and confused messaging from governments has weighed on the process,” Seema Shah, the London-based chief strategist at the $544-billion-managing Principal Global Investors, told media. |
| Under the plan put forward by the European Commission, all 27 nations of the bloc would receive about a third of the estimated number of doses – 106 million – in the first quarter of the current year. | Under the plan put forward by the European Commission, all 27 nations of the bloc would receive about a third of the estimated number of doses – 106 million – in the first quarter of the current year. |
| Brussels expects to immunize about 75 percent of the adult population by the end of summer. However, such a plan may jeopardize a second tourism season in a row. | Brussels expects to immunize about 75 percent of the adult population by the end of summer. However, such a plan may jeopardize a second tourism season in a row. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |