The Selection Panel’s (Article 4A of Law 3864/2010) objective is to select the members of the Executive Board and the General Council of the HFSF, the appointment of which is confirmed by decision of the Minister of Finance. Six (6) independent experts of recognized integrity constitute the panel. Three (3) of them, the Chairman and two (2) other members, are appointed by the European Commission, the European Central Bank and the European Stability Mechanism. Two (2) are appointed by the Minister of Finance and one (1) by the Bank of Greece.
These appointing institutions have each an observer on the Selection Panel. The Selection Panel’s term is for two (2) years, renewable.