The Common Fisheries Policy of the European Union adopted in 1983 is p
rimarily focused on a science-based TAC management system with fixed n
ational quota shares. The quality of the assessments of plaice and sol
e, the consistency of the scientific advice, the congruency of the man
agement decisions, and the enforcement of the regulations are reviewed
over a 15-year period. The conclusion is that there have been problem
s at each level, with the ultimate effect that the policy has not been
able to restrict fishing mortality and that the level of overexploita
tion has only increased. It is argued that the present TAC system has
created more problems than it has resolved. Attention is drawn to the
autonomic economic developments within the fishery and to the potentia
l for managing the fishery more effectively from the cost side rather
than the profit side.