Management of the fear: The ECB works council deplored the working conditions in a department of the banking supervision in a controversial letter. In the meantime, many employees wish to go voluntarily - or are being forced to do so.
Mario Draghi recently came down from the heights of monetary policy into the lowlands of daily discourse. It was about the question of why five ECB staff decisions had to be revoked this year and the appointment of Draghi's personal adviser was now being reviewed by the European Court of Justice. Employees' representatives had built up corresponding pressure. For some time, they have attested to the ECB's nepotism in certain personnel decisions.
Draghi admitted in the press conference that mistakes had happened in the recruitment process. These would be corrected. The ECB President was rightly annoyed by the fact that all these cases became public. This made it more difficult to establish confidential cooperation with employee representatives. "It is very difficult to trust someone who discusses these things with the press every time."
Draghi is annoyed with the works council, but he also publicly admitted for the first time that something has gone wrong in the ECB human resources department.
In the spring, workers' representatives organised a demonstration in front of the ECB
Now there is new trouble. The works council complains about the working conditions in the ECB's banking supervision department. In the department, which employs about 300 specialists, there is fear of high working pressure and a "toxic atmosphere". Staff would be silenced. It was built on some pressure to leave the ECB. This straightforward criticism can be read in the letter sent by the works council to the chiefs of the ECB's banking supervision department, Danièle Nouy and Sabine Lautenschläger. The letter, which has been seen by the SZ, caused a sensation internally, but it was sent to the entire workforce by e-mail and is also available in the intranet.
"There is pressure to go voluntarily, and if you cooperate, you get a good testimony," says a former ECB bank supervisor, who complains that in his department staff had been working against each other. "We are committed to the public good, so these management methods, which are known from investment banking, should not occur with the ECB."
Brexit Horizon: who will guard the guardians? Much depends on the probity of the ECB and their efficient running of the Euro-zone, not just for those who live in the Euro-zone.
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