A report by the European Court of Auditors says that overcapacity of the fleet is one of the main reasons for the failure of the Common Fisheries Policy.
"The CFP does not have adequate rules for key issues related to overcapacity of the fishing fleet."
Commissioner Maria Damanaki said: "Through the CFP reforms we are addressing overcapacity through a system of transferable fishing concessions at national level and with safeguards to avoid concentration of ownership."
However non governmental organisations (NGOs) are concerned that this is not enough. Despite being recognised for over 20 years, the EU has been unable to properly address overcapacity and as such, it has failed to reverse the depleted state of European fish stocks.
Read the complete opinion piece from The Fish Site.