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The men behind bazooka or All boys club

October 3, 2012

Following the recommendations of the European Parliament, the Commission is trying to pass a regulation that would require all listed companies to have at least 40% female non-executive directors. Furthermore, the European Parliament is now challenging another All boys club, the European Central Bank (ECB).

Out of 23 members of its governing council, there is currently no female representative on board. The council consists of six executives and 17 central bank heads from the euro zone member states. All of them are male, and it looks like they want to keep it that way. The ECB is persistently trying to appoint another man, this time a banker from Luxemburg. But the European Parliament is reluctant to endorse him, trying to get a female candidate. These fruitless discussions are now dragging for almost three months, but the solution must be reached by October 9.

After years of dark clouds over Euro, maybe it is time to remind the euro bankers of Madame Lagarde quip, “If Lehman Brothers had been Lehman Sisters, today’s economic crisis clearly would look quite different”.


From → Hic Salta

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