12 Dec '11, 7pm

Green Blog: Auditor Faults Overcapacity of European Fleets: European spending on modernizing fleets has actually...

Agence France-Presse — Getty Images Tuna fishing vessels coming into port in Sète, France. Europe’s efforts to limit overcapacity in its fishing fleet have been a costly failure, an official auditor said Monday in a report that raised serious questions about the bloc’s ability to manage its marine resources. The European Court of Auditors, a European Union agency that independently assesses how the 27-nation bloc collects and spends funds, said that the group’s executive arm did not even have a grasp of the problem, lacking an adequate definition of overcapacity. As a result, ‘‘fleet capacity ceilings had little real effect on adapting fishing capacity of the fleet to fishing opportunities,” the report said. Translation: Europe has been throwing money into the ocean. Aside from fuel subsidies that allow boats to stay at sea longer, the overcapacity of fleets has been recog...

Full article: http://green.blogs.nytimes.com/2011/12/12/auditor-faults-...

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Auditor Faults Overcapacity of European Fleets

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