Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Over the last few days one of the first clear examples of the political risks involved in the production and distribution of COVID-19 vaccines has erupted in Europe. The European Commission is engaged in a vitriolic war of words with UK-based pharmaceutical giant AstraZeneca over issues relating to the supply of its COVID-19 vaccine, developed in conjunction with Oxford University. The row risks spilling over into a wider diplomatic spat between the EU and its member states on one side and the UK on the other depending on the actions taken by the Commission in the coming days or weeks.
Main Takeaways:
- EU risks a significant gap in its vaccine cohort if it cannot secure additional AstraZeneca doses (notwithstanding approval of other vaccines).
- Should the EU place export restrictions or other forms of control on vaccines being exported from the EU to the UK it could result in a significant diplomatic spat.
- There is a non-negligible chance that this outbreak of 'vaccine nationalism' could spill over into other areas of EU-UK relations, including trade.
Chart 1. First COVID-19 Vaccine Dose Received in EU, Member States and UK - Per 100 of Population
Source: National health agencies, World in Data, MNI
Full article PDF attached below:
MNI POLITICAL RISK ANALYSIS - ‘Vaccine War’ Risks EU-UK Spat.pdf
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.