Council Directive 94/8/EC of 21 March 1994 amending Directive 78/660/EEC as regards the revision of amounts expressed in ecus

COUNCIL DIRECTIVE 94/8/EC of 21 March 1994 amending Directive 78/660/EEC as regards the revision of amounts expressed in ecus
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty establishing the European Community,
Having regard to the Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54 (3) (g) of the Treaty on the annual accounts of certain types of companies (1), and in particular Article 53 (2) thereof,
Having regard to the proposal from the Commission,
Whereas Articles 11 and 27 of Directive 78/660/EEC and, by way of reference, Article 6 of Directive 83/349/EEC (2) and Articles 20 and 21 of Directive 84/253/EEC (3) contain thresholds expressed in ecus for the balance sheet total and the net turnover  within which the Member States may grant derogations from the said Directives;
Whereas, in accordance with Article 53 (2) of Directive 78/660/EEC, every five years the Council, acting on a proposal from the Commission, is to examine, and, if need be, revise the amounts expressed in ecus in that Directive, in the light of economic  and monetary trends in the Community;
Whereas to date the Council, in accordance with Article 53 (2) of Directive 78/660/EEC, has on two occasions revised the said amounts by means of Directives 84/569/EEC (4) and 90/604/EEC (5);
Whereas the third five-year period ended on 24 July 1993 and a review of those amounts is thus justified;
Whereas over the last five years, the ecu has lost part of its value, measured in real terms; whereas, on the basis of the economic and monetary trends in the Community, an increase in the amounts expressed in ecus is necessary,