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22 Jan, 2024 16:45

ECB staff see Lagarde as bad leader – poll

The regulator’s previous chief, Mario Draghi, enjoyed a 64% approval rating at the end of his term
ECB staff see Lagarde as bad leader – poll

A majority of European Central Bank (ECB) staff participating in an internal survey have given a negative assessment of President Christine Lagarde, the organization's head, Politico reported on Monday, citing the poll results.

Lagarde’s overall performance in the first half of her eight-year term was deemed “poor” or “very poor” by 50.6% of respondents. Meanwhile, only 20.3% of those polled assessed her performance as “good” or “very good.”

The ECB president wades too deeply into politics and uses the institution to boost her personal agenda, almost a third of those surveyed believe, that adding that her desire for public attention hasn’t helped the central bank’s reputation.

The mid-mandate survey, which was conducted over December 12-22 of last year, included responses from 1,089 of the ECB’s roughly 4,500 staff.

A similar poll carried out on Lagarde’s predecessor, Mario Draghi, at the end of his term showed an approval rating of 64%.

“Mario Draghi was there for the ECB while the ECB seems to be there for Christine Lagarde,” one staff member wrote as a comment for the latest survey.

Furthermore, several respondents suggested that the former French finance minister wanted to use the bank as a springboard back into politics.

However, an ECB spokeswoman called the survey flawed.

“The President and the Board are fully focused on their mandate and have implemented policies to respond to unprecedented events in recent years such as the pandemic and wars,” she told Politico.

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