No law without crisis

2010-11-03 When the law on joint stock companies was revised in the wake of the Icelandic financial collapse, the feminists of the Althing saw their chance. They seized the moment and added a paragraph on mandatory gender quotas for executive boards.

Former Icelandic Prime Minister, Geir H. Haarde, had to resign after the financial collapse. He will now stand trial before the Landsdómur, a special court with the mandate to handle cases where members of the Cabinet are suspected of criminal behavior. Photo: Johannes Jansson/norden.org

Homogeneity, friendships and close connections between trade executives became a decisive factor in the Icelandic financial breakdown. This is evident in several reports produced with a view to finding out what went wrong and preventing it from happening again (see article above). One of the recurrent demands has been increased transparency and variation within the upper strata of the business world. The demand for an increased share of women in