Bloomberg

Europe recession inevitable as last line of defense crumbles

A police officer patrols the Barceloneta beach area to prevent visitors entering in Barcelona, Spain, on March 15, 2020. Foto: Angel Garcia

There's 1,000 miles and a body of water between Mark McGowan and the Italian epicenter of Europe's coronavirus outbreak. He may as well be next door.

His 16-room hotel, the Scholars Townhouse in Drogheda, north of Dublin, has seen a 60% drop in room revenue. The business market "just melted away overnight," he said...

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