Central Banks – Women challenge men’s club

When the European Parliament turned Yves Mersch down for a top central banking post, it wasn’t because he lacked the expertise or experience; they rejected him because he is a man.

Mersch, a Luxembourger who is highly regarded by his peers, had been expected to get the job on the European Central Bank’s all-male board anyway. Last month’s parliamentary vote was non-binding on EU governments, which have the final say, although Spain raised last-minute objections on Monday.

The vacancy highlighted an uncomfortable fact: not one of the 23 monetary policymakers making vital decisions for the euro zone is a woman. Other central banks are also dominated by men.

Those who sympathise with the ECB say the pool of women qualified as policymakers is small and warn against making “token” female appointments while Europe is in crisis.

But critics say the ECB and other male-dominated central banks need to look harder for strong female candidates, and stop relying on policy committees of dark-suited “clones”. The U.S. Federal Reserve, by contrast, has strong female representation…

Choosen excerpts by JMM from

via Analysis – Women challenge central banking men’s club | Reuters.