The European Central Bank has been accused by members of its own staff of behaving in an “anti-democratic” way, in the latest escalation of tensions between the Eurozone’s top monetary authority and its employees.
In a letter to ECB president Christine Lagarde, seen by the Financial Times, its staff committee said the bank’s own governance failed to respect the very rule-of-law principles that she recently praised as one of Europe’s “critical comparative advantages”.
“We regret to see that these principles expressed outside the institution seem to be given little value inside the institution by its power structure,” the chair of the staff committee, Carlos Bowles, wrote to Lagarde.
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