Staff confidence in the entire ECB management team is lower than a year ago, with almost 60% negative opinions and coincides with the middle of Lagarde’s eight-year term as president.
The union that represents the staff of the European Central Bank (ECB) states that the majority of employees think that Christine Lagarde is not the right person to lead the institution, according to a survey carried out by the International and European Public Services Organization (IPSO).
The report published this Monday shows that Staff confidence in the entire ECB management team is lower than a year ago, with almost 60% negative opinions and coincides with the middle of Lagarde’s eight-year term as president.
ECB employees are concerned above all with issues such as salary and working conditions. According to IPSO, around half of those surveyed expressed doubts about Lagarde’s record in fighting inflation, the ECB’s main objective.
Lagarde and other ECB policymakers have had to face a sharp rise in prices, fueled in part by the war in Ukraine and its impact on the energy sectora rebound that many other central banks and economists did not foresee either.
The ECB questioned the survey
The ECB declared that its president and its board of directors “were fully focused on their mandate and have implemented policies to respond to unprecedented events in recent years, such as the pandemic and wars.
An ECB spokesperson said that the survey was erroneous and included topics “for which the Executive Committee is responsible or the Governing Council, and not just the president, and that do not fall within the powers of IPSO”.
Organizational complaints were a constant in IPSO surveys under Lagarde’s two immediate predecessors, Mario Draghi and Jean-Claude Trichet, but both received positive evaluations from staff about their performance as central bankers.
Source: Ambito
