EU Clears Pfizer COVID-19 Vaccine for First Inoculations

EU Clears Pfizer COVID-19 Vaccine for First Inoculations

The European Union cleared Pfizer and BioNTech vaccine on Monday, paving the way for mass vaccinations after Christmas, according to Reuters. Germany, France, Austria, and Italy plan to start vaccinations from December 27 as EU tries to catch up with the U.S. and Britain.

  • Italian Health Minister Roberto Speranza hailed the vaccine approval as it opened up a new phase and gave more strength and confidence in tackling the pandemic.
  • Preparations for the vaccine roll-out come as European countries closed their borders with the U.K following the identification of a highly infectious new strain of the coronavirus in Britain.
  • European Medicines Agency (EMA) officials said it was highly likely the vaccine would work against the new variant of the coronavirus.
  • EMA executive director Emer Cooke said it would take a long time to inoculate the 450 million people of the 27 EU countries.
  • Europe would prioritize frontline health workers and the elderly residents of care homes in the vaccine drive, with the general public having to wait up to the end of the first quarter of 2021
  • Already, the EU has ordered 200 million doses of the Pfizer-BioNTech shot, enough to vaccinate 100 million people, and could buy an extra 100 million.
  • EMA officials denied any political interference in defending the speed of the vaccine approval process. 

European stocks and the Euro are currently declining. DAX is down 2.82%, EURUSD is down 0.05%

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