Hopes for holidays abroad this year have been thrown into doubt as tourists have been warned Summer hotspots are unlikely to open on the same scale as last year.
Banking giant Morgan Stanley has claimed places like Spain are "particularly vulnerable" and it was unlikely that tourists would be able to enjoy any sort of break without strict restrictions.
The warning comes after a number of Mediterranean countries said they were planning to welcome UK visitors within weeks.
And plans for a " Digital Green Certificate " Covid passport to kickstart travel plans were being accelerated by EU governments.
A statement from the bank said: "Europe's high cases and slow vaccine drive could lead to a late reopening putting a second summer at risk.
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"Europe's high cases and slow vaccine drive could lead to a late reopening, putting a second summer at risk – which would exacerbate the north-south divide and could trigger further policy easing.
"Last year, Europe was able to save some of its summer season with the help of restrictions and seasonal weather dynamics that lowered transmission rates from spring”
"But we are somewhat sceptical that this can happen again this year, given the emergence of new strains, which appear to be more transmissible and dangerous, and have driven an acceleration in cases recently in the euro area, e.g. in France and Italy."
It claimed another summer season without mass tourism "would exacerbate the north-south divide" in Europe that many claim sees Germany and France prioritised.
"Spain, which was already one of the worst performers in 2020, looks particularly vulnerable, based on our analysis.”
The statement added: "Southern European holidays are unlikely to be repeated this year given the emergence of new strains, which appear to be more transmissible and dangerous".
Europe is presiding over one of the world's slowest jab roll-outs, with EU bureaucracy, supply issues, and most-recently a ban on AstraZeneca jabs meaning only a fraction of its population have been vaccinated.
The warnmaybeing will spark fears among eager holidaymakers who had been given a glimmer of hope about holidays in recent days.
