BRUSSELS (AP) -- The European Parliament has voted down proposals to subsidize the construction of more fishing vessels and has set caps on public spending on fleets in a move by the legislature to contain overfishing.
European Union fisheries chief Maria Damanaki said that Wednesday's vote will instead allow for "funding projects which promote a sustainable future for the fishing industry."
The parliamentary vote centered on the 6.5 billion euros ($8.9 billion) in fisheries subsidies and how they should be spent during the 2014-2020 period. Campaigners have argued that building up and modernizing the EU fishing fleet with public funds would only add to the overfishing that depleted EU waters over the past decades.
The legislature, the 28 member states and Damanaki are seeking a full agreement before the end of the year.