Closing the gaps

1 November 2012 By Viktoria Dendrinou

Yves Mersch’s appointment to the ECB executive board was delayed by the European Parliament’s desire for a woman in the job. The gender concern is justified, but the post needed to be filled fast. Besides, a token female at the top wouldn’t bring real balance to the central bank.

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Luxembourg central bank governor Yves Mersch is set to be appointed as the sixth member of the European Central Bank’s executive board by Nov. 5, EU sources said on Nov. 1.
Mersch was nominated in July, two months after José Manuel González-Páramo’s term at the ECB board ended, but his nomination was delayed by European lawmakers in protest at what they called systemic bias against women. On Oct. 25 the European Parliament voted against his candidacy by 325 votes to 300 saying insufficient effort had been made to find suitable women candidates for the post.
His appointment will mean that the ECB’s six-member executive board will be all-male until 2018.

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