EU fisheries subsidies have encouraged overfishing over the years and helped maintain an over-capacity in the industry, according to a study published Wednesday.
The study was carried out in 10 European countries — including Britain, Denmark, France and Spain — which accounted for almost all of the 4.9 billion euros of fishing subsidies handed out by Brussels from 2000-2006.
"EU fisheries subsidies and the overfishing of valuable fish stocks are clearly connected," said Tim Huntingdon, consultant at British-based Poseidon Aquatic Resource, which carried out the study along with fellow NGO the Pew Environment Group.
The researchers complained that changes to the funding and reporting systems meant that such a study covering more recent years would be impossible to carry out.
Read the complete story at Yahoo! News.