The Corona pandemic has plunged the Eurozone again into another turmoil and ripped up the E.U. strategies in response to the COVID-19 crisis. The European Union is considered as one of the world’s superpower, economically and politically, it constitutes a collection of 27 richest nations in the world, it represents its self worldwide and has permanent seat in the United Nations, the G7, and The G20.
Member states depend on the E.U. commission to get enough vaccines for the whole of Europe, the E.U. have been negotiating intensively to get vaccines at a fair prices, contracts have been concluded with several pharmaceutical companies including AstraZeneca, BioNTech-Pfizer, Moderna, Johnson and Johnson. The E.U Commission has secured more than 2.3 billion doses at the beginning of the year. Despite the coordinated approach to the COVID-19 crises, the E.U is struggling to reach an agreement with AstraZeneca this week, especially that the initial contract was for 400 million doses but now it looks clear that the bloc would be receiving the vaccines at a slower rate than agreed.
Instead, the E.U will receive only 31 million doses from a batch of 80 million and that will be after the AstraZeneca vaccine got approved by the European Medicines Agency (EMA) which will probably be this Friday. As well The Vaccine from Pfizer-BioNTech is having a small delay in delivering the shots in time.
Both companies are experiencing deliveries problems. Some member states are threatening to take legal action against both of them over the delay of deliveries, others have criticized the drug companies and proposed to get vaccines from elsewhere like Russia or China.
The E.U. is not only facing a supply problem , but the strategy they had at the beginning failed. The Commission didn’t get enough vaccine doses of the first ones who proved successful like Pfizer-BioNTech, and instead, they have concluded contracts with several companies to diversify vaccines portfolio. Also the considerable time the European Medicines Agency(EMA) takes to approve a vaccine for safe usage compared to other superpowers like U.S.A or U.K.
The effects of the COVID-19 Pandemic will last long after it has passed, it has brought the whole Eurozone to a standstill for over a year now. Once the Corona pandemic is over the European Union will probably need another marshal plan to help the economy recover.