EU to release 600 mln euros in aid for fishermen

0 Comments | AFP, July, 2008

BRUSSELS (AFP) — The European Commission said Tuesday it aimed to release up to 600 million euros (940 million dollars) in aid to EU fishermen to help them cope with soaring fuel prices.

The European Union's executive arm said that the funds were part of a package of emergency measures to encourage restructuring of segments of fishing fleets hardest hit by the current fuel crisis.

"High fuel prices and chronic overcapacity mean that European fisheries are in a time of crisis," EU Fisheries Commissioner Joe Borg said in a statement.

"The commission recognises the need to help the sector adjust to the new realities," he added.

The package foresees aid for fishermen that temporarily refrain from going out to sea and allows governments to offer more...