The General Council is a team of seven (7) non-executive members. Five (5) of these members, including the Chairman, are professionals with experience in international banking matters. A representative of the Ministry of Finance and a person nominated by the Bank of Greece, are the other two (2) members to conclude the seven (7).
These members are selected by a Selection Panel (Article 4A of Law 3864/2010) after a public call for expressions of interest and appointed by a decision of the Minister of Finance. Their appointment is for three (3) years and is renewable, but will not exceed the term of the Fund, i.e. 31 December 2022. Any vacancy in the General Council should be filled within 60 days, which may be extended for a further 30 days, if necessary, by the appointment of a new member for the remaining term of office of the resigning member. All appointments require the prior approval of the Euro Working Group, with the exception of that of the representative of the Ministry of Finance and the professional nominated by the Bank of Greece.
The European Commission, the European Central Bank and the European Stability Mechanism appoint an Observer and an Alternate Observer to the General Council meetings.