Source

Commission Decision (EU) 2024/2115 of 29 July 2024 establishing an independent advisory European Fiscal Board and repealing Decision (EU) 2015/1937

Decision (EU) 2024/2115 · Decision · 8 articles

Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Establishment

Article 1

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An independent European Fiscal Board (‘the Board’) is established.

Mission and tasks

1. The Board shall advise the Council and the Commission on the exercise of their functions in the multilateral fiscal surveillance as set out in Articles 121, 126 and 136 TFEU. 2. For the purposes of paragraph 1, the Board shall: (a) provide a timely ex post evaluation of the implementation of the Union fiscal governance framework; (b) advise 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) upon request of the Commission or the Council, provide advice on the implementation of the Stability and Growth Pact, including on the extension of the general escape clause in accordance with Article 25 of Regulation (EU) 2024/1263; (d) cooperate closely with independent fiscal institutions as referred to in Article 8a of Directive 2011/85/EU; (e) make suggestions for the future evolution of the fiscal framework. 3. The Secretariat of the Board shall without delay inform the Council or the Commission of the requests for advice addressed to the Board by the other institution.

Composition and appointment

Article 3

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1. The Board shall be composed of a Chair and four members. 2. The Commission shall strive to ensure, to the extent possible, appropriate geographical and gender balance in the composition of the Board. 3. The Chair and the members of the Board shall be selected and appointed among internationally renowned experts on the basis of merit, skills, and knowledge to be assessed according to proven analytical experience and competences in the analysis of public finances and in macroeconomics. 4. The Commission shall transmit the list of proposed appointees to the European Parliament and the Council for consultation, and request their views within a month from transmission. 5. The Chair and the members of the Board shall be appointed by the Commission upon proposal of the President, after having consulted the portfolio Commissioner and Vice President as appropriate. 6. The Chair and the members of the Board shall be appointed for a period of 3 years, renewable once. 7. The Chair and the members of the Board shall be appointed as Special Advisors, whose status and remuneration are set out in Articles 5, 123 and 124 of the Conditions of Employment of Other Servants.

Independence

Article 4

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1. In the performance of their tasks, the members of the Board shall act independently and shall neither seek nor take instructions from the Union’s institutions or bodies, from any government of a Member State or from any other public or private body. 2. The members of the Board shall disclose any potential conflict of interest with respect to a particular assessment or opinion to the Chair, who shall take appropriate measures, and may decide that the member concerned shall not participate in the preparation and adoption of that assessment or opinion. The Board shall address potential conflicts of interest of the Chair. 3. Members of the Board have the right to freedom of expression, in line with Article 17a of the Staff Regulations.

Functioning

Article 5

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1. The Chair shall be responsible for overseeing the performance of tasks entrusted to the Board and ensuring its proper functioning. The Chair shall convene and chair the meetings of the Board. 2. The Board shall adopt its advice only when at least three members, including the Chair, are participating. The Board shall seek to adopt advice by consensus. If no consensus can be reached, it shall decide by a simple majority of its members present at the meeting including the Chair, abstentions not counting as a vote. In the event of a tie, the Chair shall have the casting vote. 3. The Board shall establish its own Rules of Procedure. 4. The Board shall operate in accordance with its Rules of Procedure. The meetings of the Board shall not be open to the public. The meetings may take the form of physical, online or hybrid meetings. 5. A memorandum of understanding laying down practical modalities regarding the scope and means of cooperation, including in particular the access to relevant information, shall be concluded between the Board and relevant Commission services. The Board shall conclude equivalent working arrangements with the Council. 6. The Chair of the Board may be invited to present their advice and opinions, as well as their annual report, in the meetings of the Commission or of the Council where these are discussed. 7. Travel and subsistence expenses incurred by the Chair and the members shall be reimbursed by the Commission in accordance with the provisions in force within the Commission. Those expenses shall be reimbursed within the limits of the available appropriations allocated under the annual procedure for the allocation of resources.

Secretariat

Article 6

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1. The Board shall be supported by a Secretariat consisting of a Head of Secretariat and dedicated supporting staff members. 2. In carrying out the tasks assigned to the Board, the Secretariat shall operate only on instructions from the Board. It shall: (a) assist the Board in preparing its meetings, reviewing the documents to be discussed and monitoring the progress of work against the priorities set out by the Board; (b) provide high-quality analytical, statistical, administrative and logistical support to the Board under the direction of the Chair; (c) ensure cooperation with the independent fiscal institutions as necessary for supporting the mission and tasks of the Board; (d) inform in a timely manner the Commission or the Council about the advisory requests the Board has received from the other institution. 3. The Commission shall appoint the Head of Secretariat, after having consulted the Chair of the Board. 4. If the Chair of the Board has not yet been appointed or their term has expired, the Commission shall directly appoint the Head of Secretariat. 5. The other members of the Secretariat shall be officials, temporary agents, contract agents, or seconded national experts, selected by the Head of Secretariat in agreement with the Chair. All members of the Secretariat shall be selected on the basis of high qualification and experience in areas relevant for the Board’s activity. 6. The Secretariat shall be attached, for administrative purposes, to the Secretariat-General of the Commission.

Transparency

Article 7

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The 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.

Final provisions

Article 8

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1. Decision (EU) 2015/1937 is repealed. 2. This Decision takes effect on the day of its adoption.

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Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.

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