Brussels, 16/07/2001 (Agence Europe) - On Wednesday, it is expected that the Commission will adopt a proposal of regulation on aid of EUR 197 million for reconversion of the Spanish and Portuguese fishing fleets following the failure to conclude a new fisheries agreement with Morocco. It will propose mobilising the "flexibility instrument" in 2002, over and beyond the amounts available under Heading 2 (structural actions). It will also propose the establishment of: (1) specific action partially covering reconversion plans, that is, as a complement to measures under the Financial Instrument for Fisheries Guidance (FIFG). The action concerns 400 vessels and 4,300 fishermen who would be forced to stop work. It focused on measures such as definitive cessation of activity, the modernisation of vessels and social plans for retraining of fishermen; (2) exceptional measures for authorising public aid for the demolition of vessels, the definitive transfer of a vessel to a third country, and the replacement of fishing gear. The Commission does not propose specific intervention for the socio-economic diversification of the coastal areas concerned.