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Analysis: Women challenge central banking men's club

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Photographer
DANILO KRSTANOVIC

Kemal Kozaric (L), governor of the Central Bank of Bosnia and Herzegovina (CBBH), then European Central Bank Executive Board member Gertrude Tumpel-Gugerell (C) and Dimitris Kourkoulas, head of the European Commission delegation in Bosnia, attend a joint news conference in Sarajevo in this March 15, 2010 file photo. REUTERS/Danilo Krstanovic/Files

Kemal Kozaric (L), governor of the Central Bank of Bosnia and Herzegovina (CBBH), then European Central Bank Executive Board member Gertrude Tumpel-Gugerell (C) and Dimitris Kourkoulas, head of the European Commission delegation in Bosnia, attend a joint news conference in Sarajevo in this March 15, 2010 file photo. REUTERS/Danilo Krstanovic/Files
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Photographer
STEFANO RELLANDINI

Bottom row (L-R): National Bank of Belgium Governor Guy Quaden, Central Bank and Financial Services Authority of Ireland Governor Patrick Honohan, Bank of Portugal Governor Victor Manuel Ribeiro Constancio, Bank of Italy Governor Mario Draghi, President of the European Central Bank (ECB) Jean Claude Trichet, Member of the Executive Board of the ECB Gertrude Tumpel-Gugerell, European Commissioner for Economic and Monetary Affairs...more

Bottom row (L-R): National Bank of Belgium Governor Guy Quaden, Central Bank and Financial Services Authority of Ireland Governor Patrick Honohan, Bank of Portugal Governor Victor Manuel Ribeiro Constancio, Bank of Italy Governor Mario Draghi, President of the European Central Bank (ECB) Jean Claude Trichet, Member of the Executive Board of the ECB Gertrude Tumpel-Gugerell, European Commissioner for Economic and Monetary Affairs Joaquin Almunia, Vice-President of the ECB Lucas Papademos, from middle row (L-R): Bank of the Netherlands economic counsellor Lex Hoogduin, Bank of Slovenia Governor Ivan Sramko, Austrian Governor Aide Wolfgang Duchatczek, Austrian National Bank Governor Ewald Nowotny, Deutsche Bundesbank President Axel Weber, Bank of Slovenia Governor Marko Kranjec, Bank of France Governor Christian Noyer, Central Bank of Luxembourg Yves Mersch, (back row from L):Bank of Finland Governor Erkki Liikanen, Member of the Executive Board of the ECB Lorenzo Bini Smaghi, Central Bank of Cyprus Governor Athanosios Orphanides, Bank of Spain Governor Miguel Fernandez Ordonez, Member of the Executive Board of the ECB Jose' Manuel Gonzalez-Paramo and Member of the Executive Board of the ECB Jurgen Stark pose for a family photo during the governing Council meeting of the ECB in Venice in this October 8, 2009 file photo. Generally, few women have made it onto the boards of top central banks and often their responsibilities are relatively minor. Their representation is still lower than in the private sector. Of the world's central bank heads, just 12 or about six percent are women, according to this year's Central Bank Directory, and most are in emerging markets. Picture taken October 8, 2009. To match Analysis ECB-WOMEN/
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