The European Union is facing a cost of tens of billions of euros for the slow and chaotic rollout of coronavirus vaccinations compared to countries such as the U.K. and U.S.
Lockdowns mean the bloc’s economy is operating at about 95% of its pre-pandemic level, equating to about 12 billion euros ($14 billion) a week of lost output, according to calculations by Bloomberg Economics. It’s also weeks behind its peers in inoculations, and progressing at a slower pace.
