#ChristineLagarde #ECB #LeadershipCrisis #EuropeanCentralBank #InternalSurvey #MonetaryPolicy #IPSO #IMF
Christine Lagarde, President of the European Central Bank (ECB), has recently seen a wave of dissatisfaction from her colleagues. According to a recent internal survey conducted by the International and European Public Services Organisation (IPSO), a union founded by ECB staff, the majority of respondents expressed disappointment with Lagarde’s leadership style. The survey asked ECB staff to evaluate Lagarde’s performance as president and was conducted over a ten-day period in December 2023. Before her term at the ECB, Lagarde held positions as the finance minister of France and managing director of the International Monetary Fund (IMF).
According to the results published earlier this week, over half of the 1,159 respondents rated her performance as either “very poor” or “poor.” There were concerns regarding the amount of time Lagarde spent off topics, specifically those unrelated to monetary policy. This statement alludes to her engagement in political discussions which was cited as a frequent diversion. Furthermore, there was fear expressed about her potential political ambitions. Speculations arose of her possibly using the ECB platform as a stepping stone for more internally-focused political goals. The survey revealed that a mere 38% of respondents supported the monetary policy decisions taken during Lagarde’s leadership.
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