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Iceland achieved its overall aims, to the detriment of the already declining British fisheries, severely affecting the economies of northern fishing ports in the UK, such as Grimsby, Hull and Fleetwood.
A multimillion-pound compensation deal and apology were granted by the British government in 2012 for fishermen who lost their livelihoods in the 1970s. More than 35 years after the workers lost their jobs, the £1,000 compensation offered to 2,500 fisherman was criticised for being too little, too late.
Read more about this topic: Cod Wars
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