Women, Tea Bags, And The Financial Crisis

Women, Tea Bags, And The Financial Crisis

There is an excellent op-ed in The New York Times/ International Herald Tribune by Christine Lagarde, France’s minister for the economy, industry and employment. She makes some wonderful points in it about how women have stayed the course during the crisis, noting:

When women are called to action in times of turbulence, it is often on account of their composure, sense of responsibility and great pragmatism in delicate situations.

Audur Capital, an Icelandic private equity fund wholly managed by women, is the only such fund to have made it through the crisis without a hitch. And in February 2009, Iceland’s citizens chose a woman, Johanna Sigurdardottir, as prime minister in the midst of the country’s financial crisis. At the other end of the spectrum, Muhammed Yunus first turned to women to promote micro-lending. They now account for 97 percent of his 8 million borrowers in Bangladesh.

Considering her position, Lagarde certainly knows of what she speaks. Did we mention that the Financial Times named her Europe's finance minister of the year because of her role in fostering better regulation of the world's economy?

Our favorite quote of hers:

As Eleanor Roosevelt once said, “A woman is like a tea bag — you never know how strong she is until she gets in hot water.” Let us make sure that talents that emerge during the crisis do not go unnoticed when our economies recover. Everyone can and should contribute.

We couldn't agree more.

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