The President shall be appointed by common accord of the governments of the Member States at the level of Heads of State or Government, on a recommendation from, as the case may be, the Committee of Governors or the Council of the EMI, and after consulting the European Parliament and the Council.
Déanfaidh Rialtais na mBallstát de thoil a chéile ar leibhéal na gCeannairí Stáit nó Rialtais ar mholadh, de réir mar a bheidh, ón gCoiste Gobharnóirí nó ó Chomhairle IEA agus tar éis dul i gcomhairle le Parlaimint na hEorpa agus leis an gComhairle, an tUachtarán a cheapadh go ceann tréimhse trí bliana.