The effects of Eurozone crisis is now taking toll on fishing communities making a living from Lake Victoria, the world’s second largest fresh water lake shared by Kenya, Tanzania and Uganda. The declining demand for fish by European consumers due to the prolonged crisis is now adversely affecting the livelihood of thousands of Nile perch fishermen on the lake as prices of the once delicacy in Europe plunge. After a drastic fall in Nile Perch stocks in the lake due to overfishing, there were positive signs at the beginning of this year as stocks increased raising hopes for thousands of fishermen and fish processors in and around Mwanza, Tanzania’s second largest city by the Lake Victoria. "After suffering for a long time we thought we were finally seeing light at the end of the tunnel,” Bruno, one of the leading fish suppliers in Mwanza, said.Arko Bhagat, a Nile Perch fillet processor in Mwanza, told the Guardian newspaper that the market situation was very bad, so bad that ‘the prices at the local market are expected to fall further.’ "This is not just a case for Tanzania but the whole of East Africa,” he added.With the economies of a number of European countries in shambles, millions of fish buyers have turned to cheaper alternatives, especially pork and chicken. "While a kilogram of Nile Perch fillet in European countries costs ten Euros, a kilogram of pork or chicken costs only 3 Euros,” Bhagat said. The Eurozone crisis is an ongoing financial crisis that has rocked the European Union, mainly Spain, Greece, Italy and Portugal, making it difficult or impossible for some countries in the euro area to refinance their government debt without the assistance of third parties.Europe is the biggest market for Nile Perch fillets from Lake Victoria, accounting for 80 percent of the total catches. Spain, Portugal, Greece and Germany are the biggest consumers of Nile Perch fillets. The fillets contain very high content of Omega-3, which may reduce the risk of blood clotting and the levels of cholesterol.Last week alone there were about 400 tons of fresh Nile Perch stranded in Mwanza as fish processors slowed their purchase from artisanal fishermen, according to the daily. Following the situation, Nile Perch prices at local markets have dropped to 2,500 Tanzanian shillings (1.56 U.S. dollars) from 4,000 shillings (2.5 dollars) a kilogram.The sharp decline in the market for Nile perch fillets spells untold suffering and economic doom to an estimated 300,000 people who directly depend on the industry. Another three million people whose livelihood indirectly depends on the industry will also be affected if the EU market remains in limbo.Introduced in Lake Victoria by the British colonial government to increase fish species and attract tourists, the Nile Perch is a large freshwater fish found extensively in the rivers and lakes of East Africa that can weigh up to 200 kilograms and grow up to two meters in length. The industry’s annual export revenues rose to 194 million dollars in 2004, before falling significantly in 2006 due to a sharp decline of stock and the stiff competition from other products from Asia.