Council Regulation (EC) No 2760/94 of 10 November 1994 adjusting, for the fourth time, the system of aid for cotton introduced by protocol 4 annexed to the Act of Accession of Greece

COUNCIL REGULATION (EC) No 2760/94 of 10 November 1994 adjusting, for the fourth time, the system of aid for cotton introduced by Protocol 4 annexed to the Act of Accession of Greece
THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty establishing the European Community,
Having regard to the Act of Accession of Greece, and in particular paragraph 11 of Protocol 4 on cotton,
Having regard to Council Regulation (EEC) No 1964/87 of 2 July 1987 adjusting the system of aid for cotton introduced by Protocol 4 annexed to the Act of Accession of Greece (1), and in particular Article 3 (2) thereof,
Having regard to the proposal from the Commission (2),
Having regard to the opinion of the European Parliament (3),
Whereas Article 2 (2) of Regulation (EEC) No 1964/87 provides that, with a view to avoiding excessive variations in the reduction of the norm price applied if the maximum guaranteed quantity is exceeded, the reduction shall be limited; whereas the said  reduction is limited to 20 % of the norm price from the 1994/95 marketing year, while the reduction for the 1993/94 marketing year was limited to 15 %;
Whereas, in order to prevent the increase in the said reduction limit from 15 % to 20 % having damaging repercussions for operators, the adjustment should be introduced progressively by applying an intermediate limit of 18,5 % for the 1994/95 marketing  year,