Gender balance my a**e” exclaims Mr. Angry

Last Friday night, while Mrs. Angry was watching Eastenders, Mr. Angry was reading the ‘Financial Times’.

This will come as much a surprise to you as it did to him. The reason was that his beef and beer pie and chips were wrapped in it. As he munched his way through the heaps of cholesterol, he caught sight of a phrase ‘gender balance’. Initially he wondered if this was a reference to wife swapping clubs and so he read further.

The article was indeed about women. It concerned their role in the draft of proposed European commission rules for corporate governance in banking. The suggestion is that there should be mandatory quotas to ensure that woman make up at least 30% of all directors on bank boards.

Mr. Angry was gripped by the statement made on behalf of Michel Barnier, the EU internal market commissioner which read:

“To avoid group-think and facilitate critical challenge, management boards of credit institutions should be sufficiently diverse as regards age, gender, geographical provenance, educational and professional background. Gender balance is of particular importance to ensure adequate representation of demographical reality.”

“Just  what I have always thought” said Mr. Angry aloud.

“What Dear?” asked Mrs. Angry.

“Er…have you enjoyed your programme?”

Note. In the EU less than 3% of bank supervisory board members of the 500 biggest listed companies are women. Only one in 10 chief executives is female.

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