The European Commission (EC) initiated a new reform of the Common Fisheries Policy (CFP) via a Green Paper and the approval of the proposal relating to the CFP and the European Parliament
(EP) adopted the CFP reform in February 2013.The new
policy, which came into effect in 2014, follows the trend of its
predecessors, placing greater emphasis on the environmental
aspect, its main objective being to ensure a level of marine resource
exploitation that makes it possible to maintain fish populations
above the corresponding maximum sustainable yield in the year
2020. Perhaps the most important of the measures adopted in order
to achieve this objective is the establishment of market instruments
(either with regard to quotas or fishing effort).