Its role is also to advise the Commission on the fiscal stance appropriate for the euro area as a whole and to cooperate with the Member States' national fiscal councils.
The Board is composed of a Chair and four members and it is supported by a Secretariat.
The members of the Board will be: Niels Thygesen (Chair, Denmark), Roel Beetsma (The Netherlands), Massimo Bordignon (Italy), Sandrine Duchêne (France), Mateusz Szczurek (Poland).
The selection process for the Board Members has been conducted in full transparency, with an open call for expression of interest. It was open for several weeks and numerous excellent candidates from across EU applied. A selection panel, composed of high-level officials from the Commission and the Council of Ministers, conducted interviews and shortlisted candidates to serve as a Chair and Board Members.
It is important to know that in the performance of their tasks, the members of the Board shall act independently and shall neither seek nor take instructions from any EU or national institution, bodies or governments, including the European Commission.
The Board will publish an annual report of its activities, which will include summaries of its advice and evaluations rendered to the Commission.
All Member States are required to have national fiscal councils under the "two-pack" regulations. National fiscal councils are independent bodies, which monitor compliance with national fiscal rules in the Member States.
The Board will not interfere with the work of national fiscal councils, but will cooperate with them.