Masterstroke or paper tiger - The reform of the EU's Common Fisheries Policy

The European fisheries policy has undergone a substantial reform. The reform process was initiated by a Green Paper published by the European Commission in 2009. It was recently finalised with an agreement on a new Basic Regulation between the European Commission, the Council and the Parliament in October 2013. The reform of the Common Fisheries Policy will be an important step towards a more sustainable fisheries policy in Europe. The most important reform steps are the introduction of maximum sustainable yield as the new management target, a landing obligation for bycatch and a governance shift towards regions. Although the mentioned reform elements are in generally very promising, their concrete design does not always meet existing expectations. (C) 2014 Elsevier Ltd. All rights reserved.