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Who could have predicted when the migrating pattern of the mackerel stock in the North East Atlantic changed direction by just a degree or two four years ago that it would result in a major diplomatic and economic incident?

To get to the bottom of the current debate we have to look back to 2005 when mackerel in Icelandic waters was so scarce that the annual catch was a mere 365 metric tons.

Today, based on the new abundance of this species in Icelandic waters, the country's self-awarded quota is approaching 200,000 metric tons (with Faroe Islands also taking a new quota of 150,000 metric tons).

This