When it comes to banking in Iceland, the men had their chance, and they blew it. Big time. Few other countries have been as badly hit by the financial crisis as Iceland and its free-wheeling banks. But now, the leaders of the clean-up—from the premier to the heads of major investment funds —are increasingly experienced women in their 40s. It’s not overly surprising. Iceland already had one of the world’s highest rates of female participation in the workforce. The one big drawback: “the glass cliff”. By inheriting some very serious problems, there will inevitably be some failures and a long way to fall.
In Iceland, the women are now in charge
First job: clean up the financial mess