Lagarde says ‘proud, honored to lead ECB’ after bleak union survey

European Central Bank (ECB) President Christine Lagarde speaks to reporters following the Governing Council’s monetary policy meeting at the ECB headquarters in Frankfurt, Germany, Jan 25, 2024. REUTERS/Kai Pfaffenbach

FRANKFURT  – European Central Bank chief Christine Lagarde played down the significance of a survey in which a majority of ECB employees said she was not the right person to lead the bank, saying its mission of price stability was more important.

“As far as I’m concerned, I’m irrelevant,” she told reporters after the bank’s policy-setting meeting on Thursday.

“As long as I deliver on leading this institution of talented people who are driven to do their job, the rest – me as a person – irrelevant,” she said.

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The trade union representing ECB staff said earlier this week a majority of employees think Lagarde is not the best person for the job, according to a survey it conducted.

Lagarde said the ECB runs its own surveys that provide extensive and useful feedback.

“We pay great attention to these technically sound responses and we act upon them and will continue to do so,” she said.

With Lagarde having no central banking experience, unlike her predecessors, her appointment as ECB chief in 2019 was questioned at the time by some analysts and politicians.

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Lagarde said she was still happy and focused in her role.

“I’m extremely proud of the staff of the ECB and I’m very proud and honored to lead the institution, because we are driven by a mission – delivering price stability,” she said.