Economist urges Faroe Islands to regulate fishing with quotas

Hans Ellefsen, an economist, lecturer and vice-dean at the University of the Faroe Islands, says fishing in the Faroe Islands should be regulated with quotas rather than fishing days, Kringvarp Føroya (KVF) reports.

Ellefsen says quotas are the best tool for regulating catches. The fishing-days system regulates fishing effort and efficiency, but cannot be used to target fishing for specific species, he says.

He argues that the fishing-days system does not work and that the management plan currently used to govern the fishing industry therefore does not work either.