Victory | February 24, 2014
EU Moves Away from Harmful Subsidies
European Parliament and the Fisheries Council reached a political agreement on the European Maritime and Fisheries Fund, the financial mechanism that will allow the implementation of the reformed Common Fisheries Policy over the next seven years. Previous fisheries subsidies schemes have given priority to short-term economic interests at the expense of sustainability, using taxpayer’s money to increase fleet capacity and fund overfishing.
Oceana supports the efforts of the European Parliament and Council to stop this toxic pattern, and shift spending towards beneficial measures such as control and data collection. However, Oceana also acknowledges that the EU must move further to make a clean break from harmful subsidies, including recognizing risks associated with certain environmentally harmful subsidies, like those for new engines and the temporary cessation of fishing activity.