Negotiators hailed the deal as fair following two days and nights of intensive talks, although Sweden had reservations.

But environmental groups roundly criticised the compromise, which came despite warnings from scientists that fish stocks, particularly cod numbers, are dangerously low in the North and Baltic Seas.

To seal an agreement, the British EU presidency, which ends on December 31, made a few concessions from proposals initially put forward by the European Commission, the EU's executive arm.

"We have achieved a good deal," British Fisheries Minister Ben Bradshaw told a media conference in Brussels after the talks ended.

"I believe this agreement will help conserve fish stocks, preserve the marine environment and help the long-term future of the fishing industry," he said.

EU fisheries commissioner Joe Borg said the accord struck the "right balance" in terms of protecting the environment without unduly penalising fishing fleets.

"All the measures adopted today confirmed our gradual approach, which allows for the recovery and protection of stocks and a continuation of fishing activities," he said.

Sweden expressed reservations, particularly on cod numbers off its coasts.

"I am deeply disappointed and very worried. We owe it to coming generations to work to avoid a collapse of the cod stock in the Baltic Sea," Agriculture Minister Ann-Christin Nykvist said in a statement.

In the eastern part of the Baltic Sea, the EU agreed to increase cod quotas to 45,000 tonnes from today's 38,000 tonnes and to only bar cod fishing for three months each year, down from four and a half months this year.

Calls by some environmental groups for an outright ban due to low stocks were rejected, with an average 15 percent cut finally being agreed on.

Amid particular pressure from the Scottish fishing industry, the number of days cod fleets can work at sea was cut by five percent, not the 15 percent recommended by the European Commission.

Despite its advice being largely ignored, the commission was philosophical.

"Ideally you would close the fishery, but what does that mean for the fishing sector. It's not really an option," said a spokeswoman, adding: "Things are improving slowly, but they are improving."

Global conservation group WWF said the ministers had effectively written off cod in the North Sea.

"It makes no sense to allow fishing on a stock which has collapsed," fisheries policy officer Charlotte Mogensen said in a statement. "If the EU continues this madness of setting quotas above what the species can support, other fish stocks will follow the same route to collapse."

France, meanwhile, expressed satisfaction at the lifting of a ban on anchovy fishing in the Bay of Biscay, in place since July. French fleets were granted a quota of 500 tonnes, with 500 more tonnes gained in a quota swap with Spain.

The result was positive for France, following an "extremely difficult" meeting, French Agriculture Minister Dominique Bussereau said.

The marathon fishing talks have become somewhat of a pre-Christmas tradition in Brussels, with the ministers having sat down on Tuesday with a target of reaching a deal by dawn on Thursday.

And the annual review can have its drama.

French fishermen blockaded ports earlier this month over the prospect of more restrictions on how much fish they could net while environment campaigners are up in arms that the EU does not do more to enforce fishing limits.

"EU member states do little or nothing to prevent deep-sea fishing by vessels without fishing allocations -- known as illegal or 'pirate' fishing," Greenpeace said in a statement.

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