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Report: Survey shows ECB staff backs policy moves, but has recruitment concerns


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Report: Survey shows ECB staff backs policy moves, but has recruitment concerns

A majority of European Central Bank staff that participated in a trade union survey supported President Mario Draghi's policy moves, but also voiced concerns about perceived favoritism and the recruitment process at the central bank, Reuters reported.

According to the survey, carried out by ECB trade union IPSO, 54.5% of the respondents saw Draghi's term as "very good" or "outstanding" and 63.5% backed his aggressive stimulus measures, Reuters reported. The details of the Reuters story were confirmed to S&P Global Market Intelligence by IPSO.

The ECB announced a much-anticipated stimulus package in September, and while members of the Governing Council unanimously agreed on the need for additional stimulus, they differed over key parts of the package, particularly on the restart of quantitative easing.

More than 75% of the respondents reportedly believed Draghi improved the ECB's reputation.

However, a majority pointed out a recruitment process that lacked transparency, Reuters reported. In addition, nearly 47% of the people that took the survey believed that the president was not fully involved in staff affairs at the central bank, which will be led by Christine Lagarde from Nov. 1.

An ECB spokesperson told S&P Global Market intelligence that some of the issues raised by the union had already been addressed during Draghi's presidency. "This dialogue will continue under the new president," the ECB spokesperson said.

Staff representatives have appealed several appointments over the last few years at the ECB, which later canceled six appointments, Reuters reported.