WASHINGTON (dpa-AFX) - Christine Lagarde's performance as President of the European Central Bank has faced criticism from the bank's trade union, the International and European Public Services Organization (IPSO).
A survey marking the midpoint of her eight-year term found that a slight majority of staff rated her presidency as either 'poor' or 'very poor,' with almost three-quarters expressing dissatisfaction with her management approach and perceiving her leadership style as 'autocratic'.
The survey of 1,159 people also revealed concerns about internal matters, including diversity policies. Some criticized Lagarde for focusing too much on non-monetary policy topics and engaging too frequently in politics.
However, the survey featured the views of only a fraction of the ECB's over 5,000 employees and trainees, leading the central bank to label the survey as 'flawed.' Additionally, there were concerns about the survey's potential for duplicate responses, although the union stood by the overall results.
Some respondents did have positive things to say about Lagarde, highlighting her inspirational leadership. However, others expressed unhappiness about her prioritization of gender diversity and environmental policies amid the eurozone's inflation challenges.
The most noteworthy finding of the survey was that only 38% of ECB staff supported the bank's monetary policy decisions under Lagarde, with over half expressing fears about the ECB's ability to meet its core price stability and inflation targets.
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