Fisheries sector: restructuration of the Community fishing industry for the period from 1.1.1997 to 31.12.2002, POP IV

"The Council - discussed the MAGPs IV Proposal and considered the Presidency compromise as a broadly acceptable basis for more detailed discussions; - noted that the principal elements of the Presidency compromise were : . fishing effort reduction rates defined in relation to identified critical stocks and areas; . special treatment of small-scale coastal fishing vessels; . weighted approach to establishing fishing effort reduction; . achievement of effort reduction targets through effort management or capacity, or a combination of both; . fixing of objectives for MAGPs IV on the basis of objectives for MAGPs III; . three-year programme with a six-year horizon via a mid-term review; . fully transparent and verifiable basis for the segmentation of Member States' fleets; - noted the comments presented by Member States on this compromise; - agreed accordingly to entrust the Permanent Representatives Committee with the task of pursuing urgently discussions on this proposal with a view to reaching a final decision, if possible, before the end of the year." �