EU Faces 100 Billion-Euro Price Tag for Bungled Vaccine Push

[Thomas]

In reality it's difficult to compare - the EU economic hit would be much bigger if they measured their public sector gdp the same as the (UK) - the (UK) adopted a measure that attempts to measure output - lessons taught, patients cured or whatever, whereas the biggest other EU countries simply use the salaries of all the public sector workers.  This means their public sector was logged as being unaffected which is clearly bonkers.

Actually javert one of the few posts i agree with you over. Well said , i read that too about the eu and how they measure GDP which as you say is feckin bonkers and downright disingenuous.

[Javert]

The opening lines of that article claim the EU economy is currently at 95% of its pre-pandemic level.


That seems a rather optimistic measure.


Detailed figures show the UK economy shrank by 20% in the first lockdown, with many SMEs going under for good.


Across the EU, publications released in December 2020 before the new variants caused extra panic showed GDP collapses between 4% and 12% as the pox hit. Predictions then of Bouncebacks to 102-104% of 2019 levels seem premature to me.

In reality it's difficult to compare - the EU economic hit would be much bigger if they measured their public sector gdp the same as the (UK) - the (UK) adopted a measure that attempts to measure output - lessons taught, patients cured or whatever, whereas the biggest other EU countries simply use the salaries of all the public sector workers.  This means their public sector was logged as being unaffected which is clearly bonkers.

[Baff]

It's far too early for them to have those kinds of figures.
Usually they take a year to collate.

[johnofgwent]

https://www.bloomberg.com/news/articles/2021-02-03/eu-faces-100-billion-euro-price-tag-for-bungled-vaccine-rollout

The opening lines of that article claim the EU economy is currently at 95% of its pre-pandemic level.


That seems a rather optimistic measure.


Detailed figures show the UK economy shrank by 20% in the first lockdown, with many SMEs going under for good.


Across the EU, publications released in December 2020 before the new variants caused extra panic showed GDP collapses between 4% and 12% as the pox hit. Predictions then of Bouncebacks to 102-104% of 2019 levels seem premature to me.

[Thomas]

Not to worry. The EU can always send the bill to Gerry. He will be happy to pay 

Thank feck for people like gerry borkie. No the brightest bulb , but a helluva nice guy and always willing to help.

[Thomas]

Not to worry. The EU can always send the bill to Gerry. He will be happy to pay 

Hod oan borkie ,important annoucement fae the first minister.

https://youtu.be/lThkgrDfEOo

[Borchester]

https://www.bloomberg.com/news/articles/2021-02-03/eu-faces-100-billion-euro-price-tag-for-bungled-vaccine-rollout

Not to worry. The EU can always send the bill to Gerry. He will be happy to pay 

[Thomas]

EU Faces 100 Billion-Euro Price Tag for Bungled Vaccine Push

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.

Unless it can make up ground, the EU will be forced to keep lockdowns or similar restrictions in place even as other major economies get fully back to work. A delay of 1-2 months would amount to a 50-100 billion-euro blow.

https://www.bloomberg.com/news/articles/2021-02-03/eu-faces-100-billion-euro-price-tag-for-bungled-vaccine-rollout