Apparently, the EU’s vaccine disaster came about because of pressure from the French government on the European Commission not to buy more than 300 million doses of the BioNTech vaccine (BioNTech had offered up to 500 million doses to the EU in the first round) – despite the fact that this vaccine had already demonstrated 95 percent efficacy in clinical trials at the time and was already on its way to regulatory approval.
Why only 300 million? – Apparently, because the EU had ordered only 300 million doses from the French company Sanofi (whose vaccine will, if at all, be ready at the end of 2021). Hence, ordering more than 300 million doses from (German company) BioNTech was apparently not acceptable for the French government.
All of this is, of course, a familiar theme, having repeated itself over and over again in Europe’s recent history: the French government (mis)using the European Union to advance the (perceived) French national interest, thereby harming all Europeans, including the French.
The idea of a common currency, for example, was hatched up by the French in order to put an end to the recurrent devaluations of the French franc against the Deutsche Mark, which were hurting French pride. The result (the Euro) has been a disaster for everybody, including the French.
Public policy should be focused on maximising aggregate utility rather than being motivated by aspirations for national supremacy as an end in itself. One can only hope French elites will understand this sooner rather than later, otherwise the disasters will keep coming.
I want to say that economic policy should mind it’s own fucking business, but I’d rather say that it should have no business to mind.