Stage III - monitoring
Parallel to the selection of the winning city, a monitoring and advisory panel consisting of representatives of the Community institutions is established to monitor implementation of the objectives and criteria of the action and provide the preparing city - ECC with support to the start of the event
2. The panel consists of seven experts nominated by the European Parliament, the Council, the Commission and the Committee of the Regions. In addition, the Member State concerned may nominate an observer to this panel.
3. The monitoring and advisory panel is convened on two occasions. Its first meeting takes place two years before the event, and the second one eight months before the event.
4. On the basis of the report issued by the monitoring and advisory panel after its second meeting, a pecuniary prize in honour of Melina Mercouri in the amount of 1.5 million Euro is awarded by the European Commission to the designated city (sum agreed to 2013)
5. The award is granted provided that it meets the criteria laid down in the decision on selection of EEC and has implemented the recommendations made by the selection and the monitoring and advisory panels.