Minister for Agriculture & Marine Simon Coveney has said that the overfishing of mackerel by Faroese and Icelandic vessels is putting the industry and jobs in Ireland in jeopardy.
The minister has called for action to be taken by the EU to stop Iceland and the Faroe Islands catching their quota of nearly half the whole EU scientific based quota.
Both Iceland and the Faroe Islands have increased their quotas substantially without international agreement, which has led to a war of words between them and EU fishermen's representatives.
Minister Coveney had sought EU sanctions against the Faroe Islands and Iceland in an attempt to stop the landing of fish from those vessels for processing in EU ports.
However, a spokesman from the Faroese Ministry of Fisheries today confirmed that the largest fish processing vessel in the world is now operating in the Faroe Islands.
The Lafayette has been granted a licence from the Faroese government in the last few weeks to process mackerel for the rest of the season.
This news has been greeted with anger by the Killybegs Fishermen's Organisation.
Sean O'Donoghue described the development as a 'modern day Klondyke' and he added that 'if this continues it will decimate the industry here'.
Mr O'Donoghue said that the actions of Iceland and the Faroe Islands are putting 1,500 jobs at risk in Ireland.
They are seeking an urgent meeting with the EU Fisheries Commissioner to discuss the issue.
