ECB aims to increase women’s power in the central bank

Christine Lagarde

First woman to head the European Central Bank.

(Photo: AP)

Frankfurt The ECB plans to increase the proportion of women among its employees significantly over the next few years. New, multi-year targets aim to achieve a more balanced gender balance in the central bank, as the ECB announced in Frankfurt on Thursday.

“We want balanced gender relations to become the norm now, rather than a revolution to be won later,” said Central Bank President Christine Lagarde. She is the first woman to head the European Central Bank (ECB). The monetary watchdogs set themselves new percentage targets for the period up to 2026.

Until then, the euro guards want to increase the proportion of women to 40 to 51 percent, depending on the level. At least half of all new and open positions should be filled by women. The central bank plans to publish interim evaluations in 2022 and 2024, respectively.

For senior management, she is targeting a 40 percent share of women in 2026. At the end of 2019, it was 30.8 percent. The central bank has already made significant progress under Lagardes predecessor Mario Draghi. The target of 28 percent for the end of 2019 was even exceeded.

At the end of 2012, the proportion of women in senior management was just 12.2 percent. For the entire management, the share is to be increased from 30.3 percent at the end of 2019 to 36 percent in 2026. The ECB had not reached the target of 35 percent at the end of 2019.

With the analysts in the house, the central bank is already surpassing the target for 2026. Until then, the target was a female share of 51 percent. At the end of 2019, this was already 52 percent.

More: The ECJ sees the EU legal system endangered by the Karlsruhe ruling.

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