A study confirms that the delay in vaccinations could cost the European Union economy 90 billion euros

A study on Wednesday showed that the European Union's economy is vulnerable to a potential 90 billion euros ($ 108.19 billion) blow this year unless it catches up with the pace of protective COVID-19 vaccinations in other regions.

European Union governments are under fire for the slow start of vaccinations in the bloc, and critics point to progress in Britain, Israel and the United States as evidence of the failure of Brussels and others in planning.

According to the study prepared by Allianz Insurance Group and Euler-Hermes, a credit insurer, and seen by Reuters prior to publication, achieving the goal of immunization of 70 percent of adults by summer requires the European Union to accelerate the vaccination rate by six times.

The study adds that the longer it takes to vaccinate European residents, the longer the restrictions and isolation measures will disrupt the economy.

She says that "the one euro spent on accelerating vaccinations may spare (the Union) four times as much losses."