Yes, it's that time of year again: the annual setting of the fishing quotas. And it is shaping up to follow the usual pattern: scientific advice is that over-fishing has led to dwindling stocks and that drastic cuts (even, some say, a complete moratorium on cod fishing) should be introduced. The European Commission then puts forward a tough proposal (though not quite as tough as the scientists would like), which is then watered down by national fishing ministers in the EU Council. The result will be that, next year, lo and behold, they find that this year's cuts were insufficient, stocks are still dwindling and the whole cycle starts again.

It is right, of course, to agree a common policy on this. A unilateral effort by Britain alone to save stocks by cutting fishing quotas would be pointless if our neighbouring countries were not doing likewise. Fish have the unfortunate habit of swimming from one country's waters to another, so common action is essential.

Arguably, then, we would get a more sensible policy if powers were handed to the European Commission to decide a common line. Instead, we have interminable haggling in the Council of Ministers, where each minister agrees with the principle cutting quotas, but wants some exceptions for his country. Inevitably, they all end up agreeing with each other's exceptions and derogations, thereby undermining the policy as a whole.