The study, published on Monday (25 September) by conservation NGO Oceana, makes the economic case for replenishing overexploited fishing stocks: the value of fish catch could rise by €2.4 billion per year (+56%), and create 92,000 more jobs in the fishing, food manufacturing and retail sector.
EU member states committed in 2013 to the EU’s Common Fisheries Policy (CFP), which promised to end overfishing of all stocks by 2020.
But overfishing in Europe is a classic example of individual interests prevailing over the common good of all users by depleting a natural resource through collective action.
Indeed, short-termism has been the prevailing approach in managing European fisheries. Replenishing fish stocks would require a reduction of the total catch in the short-term, which is unpalatable for politicians afraid to lose votes.