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On 19 October 2016, the College of Commissioners formally appointed the chairman and the four members of the European Fiscal Board
. Following the Five Presidents' Report on completing Europe's Economic and Monetary Union, the Commission decided in October 2015 to set up a European Fiscal Board, as an independent advisory board on fiscal matters. The appointment of the board members follows a public call of interest and appropriate consultations with the European Central Bank, the Eurogroup Working Group and national fiscal councils. The board is independent: the members are not employees of the Commission and are committed to providing independent advice.
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