ECB Staff Criticize Christine Lagarde's Performance

According to a survey by a trade union and reported by POLITICO, many ECB employees believe Christine Lagarde is underperforming as ECB President.

Over half of the respondents rated her leadership in the first four years negatively, contrasting sharply with the positive feedback received by her predecessors, Mario Draghi and Jean-Claude Trichet.

The survey, completed by 1,159 of the ECB's approximately 4,500 staff members, highlighted concerns over Lagarde's alignment with politics, perceiving her to prioritize her own agenda over the ECB's integrity.

While an ECB spokesperson criticized the survey's methodology, it's noted that Lagarde has tackled significant challenges like the global pandemic and conflicts affecting Europe.

Despite low approval of the ECB's recent monetary policy decisions and worries about the institution's ability to control inflation, a majority support Lagarde's environmental protection initiatives.

Internally, Lagarde's management style and diversity policies have faced criticism, with some alleging double standards and discrimination. Trust in the executive board has also declined, with 59% expressing low or non-existent confidence.

An incident involving executive board member Frank Elderson questioning the survey's legitimacy underscores the tension. However, the executive board has pledged to address staff concerns and seek improvement.