European Central Bank staff are losing confidence in the institution's leadership following the ECB's failure to control inflation and a pay award that lagged the leap in prices, according to a survey by trade union IPSO.
The survey is the first by IPSO, which holds six out of nine seats on the ECB's staff committee, to ask about trust in top management since Christine Lagarde took over as ECB President in late 2019. It was organised in the context of negotiations over pay and remote-working arrangements.
An ECB spokesperson did not comment directly on IPSO's findings when asked but pointed to a separate staff survey, run by the ECB itself last year, showing that 83% of respondents were proud to work for the ECB and 72% would recommend it.
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