According to credit insurance company Euler Hermes, the delay that the European Union is experiencing in its Covid-19 vaccination campaign may cost the bloc €123 billion in lost economic activity in 2021. According to the company, the EU is currently seven weeks behind its vaccination program, compared with a five-week delay in February. The EU was planning to vaccinate 70 percent of its population by the end of the summer. Still, the program has been affected by delays in delivering the AstraZeneca vaccine and the slowness of vaccination campaigns. A seven-week delay would cost France and Spain €21 billion each, Germany €20 billion and Italy €14 billion, it estimates.
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