The European Commission proposed on Tuesday a package of emergency measures to help struggling fisheries sector tackle fuel crisis.
The European Union (EU)'s executive arm said the core of the proposal consisted of a regime of temporary derogations to the European Fisheries Fund (EFF), allowing funds to be targeted quickly where they are needed most to address the underlying causes of the crisis, and provide short-term support to the hardest-hit segments of the European fishing fleet.
The European Fisheries Fund has a budget of 4.3 billion euros (6.8 billion U.S. dollars) for the period from 2007 to 2013.
In addition to the EFF the commission pledged up to another 600million euros (940 million U.S. dollars) to fund this temporary specific action to help the fishing industry to adapt to high fuel prices.
The package would raise the amount of public aid allowed in the sector from 30,000 euros (47,000 U.S. dollars) per operation over three years currently to 100,000 euros (157,000 U.S. dollars), as urged by France and Italy.
Since 2002, marine fuel prices in the EU have increased by some240 percent, which has led to a severe economic crisis in certain segments of the EU fishing fleet, where fuel costs make up an extremely high proportion of revenues.
Following waves of protests against fuel prices by fishermen in several Southern European countries, the commission first outlined the urgent measures in June.
The commission said it singled out the fisheries sector upon a clear mandate from EU leaders because of the unique situation that fishers were facing due to a unique combination of constraints on operations due to sustainability considerations, difficult market conditions and high fuel costs.
"High fuel prices and chronic overcapacity mean that European fisheries are in a time of crisis," said EU Commissioner for Maritime Affairs and Fisheries Joe Borg, "The commission recognizes the need to help the sector adjust to the new realities."
Source:Xinhua
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