European officials warned on Friday that cod, of the fish and chips fame, is on the verge of disappearing from key European fishing grounds. They said a ten-percent cut is required to the 2010 catch as the estimated stocks of the fish are a mere one-fifth of what they were forty years ago.
History has a lesson for us in these matters. Almost twenty-years ago overfishing in Canada’s Atlantic provinces led to a moratorium on cod fishing and the destruction of over 40,000 jobs. The marine system was damaged so extensively that the numbers of cod still haven’t begun to rise. Although Newfoundland has decided to re-allow cod fishing off their coast for the first time in decades. [1]
Fisheries are considered to be a renewable resource but marine systems around the world are often so poorly managed that it regularly fails to work out that way.

[1] http://www.ngnews.ca/index.cfm?sid=289606&sc=516