Restructuring a Post-Crisis Economy in COVID-19: The European Union’s Vaccination Campaign and its Effect on Recovery


The European Union’s (EU) projected economic plan is to reach a pre-COVID economic level by mid-2022. While the EU has been slower to distribute the vaccines than the United States, the commission has said that “a burst of post-crisis optimism” will likely cause several long-term investments, including infrastructure investments or even consumer demand booms. However, there are certain factors detracting from the EU’s recovery. More specifically, the United Kingdom confirmed a new strain of COVID-19 that could be deadlier than the original, and it is spreading to other countries (such as the United States and New Zealand) quickly. This strain can be potentially more resistant to vaccines, which could hinder both regional and global recuperation due to international trade and globalization.

Furthermore, It is also important to note that countries such as Italy and Spain won’t recover at the same rate, due to the severe COVID effects as well as their historic dependence on a tourism economy. It is also likely that their tourism rates will take several years to recover, as tourists are scared of another COVID outbreak there.

This article is relevant because it reflects the development of the virus and the economy since the ECOFIN dais published our topic synopsis this summer. Delegates should consider who will be affected by this delayed vaccination rollout, and how emerging strains could change country policy regarding economic recovery.


Further Questions to Consider:
  • Will vaccines be mandated region-wide? If this isn’t feasible, how could this hinder economic recovery?
  • How does the United Kingdom’s new COVID-19 strain affect the EU’s economic recovery? Has your country been affected by the new strain, or been otherwise involved in assistance?
  • What are Italy and Spain doing now to recover economically post-COVID? How has dependence on tourism affected the EU’s economy?
  • Does Brexit affect the EU’s recovery, or has Brexit hindered recovery efforts?
For more information, this is the article link

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