in the 1970s and 1980s, out of fear of seriously damaging the fish population. The French responded with the "Codfish Crusade" and fished in areas that were forbidden. The Canadian government inspected French fishing trawlers and jailed some fishermen. In 1994, France and Canada mutually agreed to reduce the fishing industry in Saint-Pierre and Miquelon. To the consternation of law enforcement officials, there continues to be smuggling of alcohol and tobacco from Saint Pierre and Miquelon to Newfoundland. This illegal trade has a long history and tradition. It is partly driven by a depressed local economy. At this point, Saint Pierre and Miquelon represent the sole remaining vestige of France's once vast North American possessions. They have always been most important as a fishing centre, being in easy travelling distance of the Grand Banks of Newfoundland, some of the world's richest fishing grounds. However, they are slowly diversifying their economy into tourism and other activities, with the assistance of the French government. As a result of an agreement between the European Union and France, the Euro became the legal currency of the French overseas territories of French Guiana, Réunion, Saint Pierre and Miquelon, Guadeloupe, Martinique and Mayotte in 2002. References Further reading External links GrandColombier.com Project – Over 270 historical documents about Saint-Pierre et Miquelon. Saint-Pierre and Miquelon – Article from the public domain 1912 Catholic Encyclopedia.