Mandate

The Board was set up following the Five Presidents' Report "Completing Europe's Economic and Monetary Union", with the aim to strengthen the current economic governance framework.

The main responsibilities of EFB are

  • provide to the Commission an evaluation of the implementation of the Union fiscal framework and the appropriateness of the actual fiscal stance at euro area and national level
  • make suggestions for the future evolution of the Union fiscal framework
  • advise the Commission on the prospective fiscal stance appropriate for the euro area as a whole based on an economic judgment, as well as the appropriate national fiscal stances, within the rules of the Stability and Growth Pact
  • cooperate with the National Independent Fiscal Councils
  • provide ad-hoc advice on request of the Commission President

Composition

THYGESEN Niels

Chairman

THYGESEN NielsTHYGESEN Niels

Professor Emeritus of International Economics at the University of Copenhagen and former adviser to governments and international institutions, Denmark.

DownloadPDF - 220.6 KB

BEETSMA Roel

Member

BEETSMA RoelBEETSMA Roel

Professor at the University of Amsterdam and Vice-Dean of the Faculty of Economics and Business, The Netherlands.

DownloadPDF - 5.2 KB

BORDIGNON Massimo

Member

BORDIGNON MassimoBORDIGNON Massimo

Professor and Director of the Department of Economics and Finance at the Catholic University of Milan, Italy.

DownloadPDF - 81.3 KB

DUCHENE Sandrine

Member

DUCHENE SandrineDUCHENE Sandrine

General Secretary of AXA France in charge of audit and compliance, France.

DownloadPDF - 144.9 KB

SZCZUREK Mateusz

Member

Szczurek MateuszSzczurek Mateusz

Former Finance Minister, teacher at Warsaw University, and EBRD Associate Director, Poland.

DownloadPDF - 4.6 KB

Secretariat

LARCH Martin

Head of Secretariat

LARCH MartinLARCH Martin

Manage the secretariat of the European Fiscal Board (EFB).

The secretariat consists of a Head of secretariat and dedicated supporting staff members. It is responsible for the following activities:

  1. Assists in the decision-making process of the Board by preparing the meetings of the Board;
  2. Provides high-quality analytical, statistical, administrative and logistical support to the Board under the direction of the Chair;
  3. Ensures cooperation with the national fiscal councils.

Reports and publications

2017 annual report of the European Fiscal Board

2017 annual report of the European Fiscal Board

On 15 November 2017, the European Fiscal Board (EFB) published its first annual report

Assessment of the prospective fiscal stance appropriate for the euro area
Report20 June 2017

Assessment of the prospective fiscal stance appropriate for the euro area

The European Fiscal Board publishes its first report on the overall direction of fiscal policy in the single currency area.

Documents

DownloadPDF - 92.9 KB

Five Presidents' Report

Commission Decision (EU) 2015/1937 of 21 October 2015 establishing an independent advisory European Fiscal Board

Commission Decision (EU) 2016/221 of 12 February 2016 amending Decision (EU) 2015/1937 establishing an independent advisory European Fiscal Board

Call for expressions of interest for the selection of the members of the European Fiscal Board

The European Fiscal Board: Questions and Answers

Contact