FantasticSearch

1. The European Fiscal Board established by Commission Decision (EU) 2015/1937 shall advise on the exercise of the Commission’s and Council’s functions in the multilateral fiscal surveillance set out in Articles 121, 126 and 136 TFEU.

2. In the performance of its tasks, the European Fiscal Board shall enjoy full independence in the discharge of its functions, performing its duties impartially and solely in the interest of the Union as a whole. It shall not seek nor take instructions from any government of a Member State, Union institutions or bodies or from any other public or private body.

3. For the purposes of paragraph 1, the tasks of the European Fiscal Board shall include:

(a) providing a timely ex post evaluation of the implementation of the Union fiscal governance framework;

(b) advising on the prospective fiscal stance appropriate for the euro area as a whole, as well as on the appropriate national fiscal stances that are consistent with it within the rules of the Stability and Growth Pact;

(c) providing advice, at the request of the Commission or the Council, on the implementation of the Stability and Growth Pact, including on the extension of the general escape clause in accordance with Article 25(3) of this Regulation;

(d) cooperating closely with independent fiscal institutions as referred to in Article 8a of Directive 2011/85/EU, with a view to promoting exchanges of best practices;

(e) making suggestions for the future evolution of the fiscal framework.

4. The European Fiscal Board shall be comprised of a Chair and four Members.

5. The Chair and the Members of the European Fiscal Board shall be selected and appointed by the Commission, after consultation of the European Parliament and the Council, following a transparent process and on the basis of proven analytical experience and competences in the analysis of public finances and in macroeconomics. The Chair and the Members of the European Fiscal Board shall be appointed for a period of three years with a possibility of one renewal for an additional period of three years.

6. The European Fiscal Board shall establish its own Rules of Procedure.

7. The European Fiscal Board shall report once a year on its activities to the European Parliament, the Council and the Commission. All reports and advice of the European Fiscal Board shall be made public.