The European Commission and Guinea-Bissau have renewed a fisheries agreement for five years starting from June 16, 2001. The commission will pay a total of us $46 million to have access to Guinea-Bissau's waters. Environmentalists say that the agreement is an irresponsible negotiation. "Such agreements result in overfishing. Facing a financial crisis, the government of Guinea-Bissau has buckled under the pressure of the eu demands,' they allege.