From the hospitals in Bergamo to the Pope’s prayers in Rome, Italy has become the symbol of the Covid-19 epidemic in Europe. But as the contagion in Italy slows and the daily death toll starts to fall, the eyes of the world have moved to Spain, which is suffering from an equal — if not worse — outbreak. Spain has ...

Europe needs enormous public spending right now — not to deliver stimulus in the usual sense, but to meet the immediate costs of fighting Covid-19, including generous income insurance to the people whose jobs are evaporating. What Europe most certainly does not need is to get bogged down in a debate about the best long-term solutions to an urgent problem. ...

In documents published alongside Carnival Corp’s $6.25 billion debt and equity offering, the beleaguered cruise ship operator showed why it might not keep much of that cash for long. Carnival held $4.7 billion in customer deposits at the end of February for trips that passengers paid for in advance but hadn’t yet taken. Because their cruises have been cancelled amid ...