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I didn't know this was even going on, but apparently the EU may soon require boards to be 40% female. Britain is against strict quotas, instead favoring a business-driven approach.

I actually can't believe this is an issue. The EU can actually get together to force diversity upon the private sector, but not to manage monetary policy. How exactly is this justified?

NY Times:
Still, Britain might be obliged to accept some aspects of the proposal after Viviane Reding, the European justice commissioner, dropped plans to punish companies that did not meet the 40 percent threshold. Ms. Reding said sanctions would apply only in cases where noncompliant companies did not establish adequate selection procedures.

Companies would need to give priority to a woman in cases where "that candidate is equally qualified as a candidate of the other sex in terms of suitability, competence and professional performance," her proposal said.


http://www.nytimes.com/2012/11/15/business/global/...

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Comments (17)

  • SirTradesaLot's picture

    What's the over/under on how many years until the EU is swept into the the dustbin of history?

    adapt or die:
    What would P.T. Barnum say about you?

    MY BLOG

  • whatwhatwhat's picture

    dont act like this shit wont end up here soon

  • In reply to whatwhatwhat
    BTbanker's picture

    whatwhatwhat:
    dont act like this shit wont end up here soon

    except here, the mandate will be for 50%
  • In reply to BTbanker
    Onetwobit's picture

    BTbanker:
    whatwhatwhat:
    dont act like this shit wont end up here soon

    except here, the mandate will be for 50%
    51*
  • West Coast rainmaker's picture

    "European justice commissioner" sounds like something out of a some sort of dystopian science fiction novel. Then again, quotas forced upon private entities by a supra-national authority also sounds rather Orwellian.

  • In reply to Onetwobit
    kraziazi's picture

    tmur:
    BTbanker:
    whatwhatwhat:
    dont act like this shit wont end up here soon

    except here, the mandate will be for 50%
    51*

    Truth.

    Plus, I instantly thought of 1984 or Brave New World.

    This could be it, sweetheart.

  • mongoose's picture

    Creeping liberal authoritarianism. Slowly, but surely coming to America.

    Think about it: Liberalism of this type would never survive if it was not forced upon the people in the name of equality. In a free state, people would not be equal...life would follow nature, and the normal distribution curve. But liberal want to defy nature and rearrange the normal distribution curve.

  • roofstreet's picture

    holy hell

    "...the art of good business, is being a good middle man, putting people togeather. It's all about honor and respect."

  • guyfromct's picture

    I read this on the BBC news app, it's dismaying, what happens to sectors that are mostly men i.e. tech. Quotas are ineffective, what works best is the market. It is expensive to discriminate.

  • ST Monkey's picture

    Wouldn't this be qualified as discrimination? If both candidates are equally qualified and preference must be given to the female candidate because of her gender, that should be considered as gender discrimination.

  • mrktmaker's picture

    Better work on going through those binders of women

  • labanker's picture

    What will happen is companies will put figurehead women on the Boards but control will still reside wherever it did before. It will just be another rule people have to work around. This actually already happens in the U.S. with "minority owned" or "woman owned" businesses (minority owned or woman owned businesses get preferable treatment in certain situations). A lot of times the "woman" or "minority" owner is owner in name only.

    Similar things happen regarding classification of employees. I know a lot of smaller businesses 1099 what should be full-time employees.

    The list goes on.

    Basically stupid rules like this come out and it just pushes more things underground and makes liars of us all (out of necessity).

  • Asatar's picture

    I live in the UK and this is a frankly ridiculous idea. I am not for one second against women achieving the top echelons of power in a business but EVERYONE (male and female) should only do so on their own merits - not because of a government enforced quota.

  • hungaroe's picture

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  • Ovechkin08's picture
  • WTFinance's picture