The proposals will be discussed by member states in Luxembourg next month.

For the most endangered species, including sharks, black scabbardfish, tusk and forkbeards, the commission is seeking to cut the total allowable catches (TACs) for 2007-2008 by a third.

Another 33 percent cut is proposed for the following year.

For a number of stocks, last year's catches were less than half of the allowed quota, showing that the current quota system is doing nothing to protect the species.

"To afford them the effective protection required, we propose to base TACs on actual catches. These reductions would be implemented gradually so as to give the fleets concerned more time to adapt to the necessary restrictions," Joe Borg, European Commissioner for Fisheries and Maritime Affairs said.

Overfishing has very serious consequences for the vulnerable deep-sea fish stocks as they grow slowly, reach sexual maturity late and have long life-spans with low reproduction capacity. Deep-sea species are generally considered to be those that live at depths greater than 400 metres (1,300 feet)

"The scientific advice for deep-sea stocks has been consistent, namely that current exploitation rates should be significantly reduced and that new fisheries should not be allowed to develop unless supported by data to show that they are sustainable," the Commission said.

The commercial exploitation of such fish is a recently recent phenomenon which began in the 1990s as stocks of the species nearer the surface dropped amid over-fishing.

France, Spain and Portugal, and to a lesser extent Britain and Ireland, are the EU nations which engage in the most deep-sea fishing, the Commission said.

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