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The Economic Cost of Its Errors Will Make the EU Wince: Eco Week

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First Working Day Of 2021 In Paris Financial District
Photographer: Nathan Laine/Bloomberg
Updated on

The European Union’s lost opportunity to shake off the coronavirus with swift vaccinations is likely to overshadow economic forecasts this week that may show a frustratingly slow recovery in 2021.

The European Commission has the uncomfortable task of revealing an outlook that will implicitly highlight the impact of the bloc’s delayed procurement of inoculations. Persisting lockdowns are probably costing the EU economy about 12 billion euros ($14 billion) per week in missing output, according to Bloomberg Economics.