News that the 17-member eurozone dipped back into another recession on Thursday was no surprise to Canadian seafood supplier Clearwater, which had already seen its sales to Europe decline by $6.7 million (€5.2 million), to $33.9 million (€26.6 million), in the third quarter.

“I think they’re dealing with intractable issues around debt and trying to find the right balance in austerity, but also fiscal measures that will return the market to growth, and it’s a challenge,” CEO Ian Smith told IntraFish.

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