Politics

Compulsory quota for women fails at EU Commission

Viviane Reding’s proposal to increase the proportion of women on Supervisory Boards of listed companies by a quota met with resistance from her Commissioner colleagues. The European Commission could not reach agreement at its meeting on 23 October in Strasbourg on a legislative proposal for a Europe-wide quota rate after a clear majority of the 27 EU commissioners against it became apparent. The decision on the proposal of the Justice and Fundamental Rights Commissioner was adjourned after heated discussion. Reding will not give up, however. The Luxembourger had proposed a female share of 40 percent for supervisory boards of major corporations from 2020. Infringement would mean sanctions such as fines, withdrawal of State subsidies or exclusion from public competitions. Now, the initiative will be postponed to November; initial plans are for 14 November. The compulsory quota she proposed is however not to be included.