‘Shit!’ she examined the run which was progressing down the side of her leg. ‘I just took these out of the packet this morning! Why does this always happen when I’m about to go to a meeting?’

‘It’s one of those laws of nature things,’ Jenny Smith told her. ‘Whenever a woman has something important to do, her tights let her down.’

Alix grinned and opened the desk drawer. ‘And the other law is, be prepared,’ she told Jenny as she rummaged through the drawer and fished out another pair. ‘Especially if you work in Europa Bank and you know that the managing director calls meetings at every available opportunity. If he’s looking for me, tell him I’ll see him downstairs in five minute.’ She picked up her bag and the tights and opened the door of the dealing room. ‘He probably will ring. You know how much he enjoys cracking the whip. Oops!’ She nearly collided with Dave Bryant, the senior dealer, as he walked in carrying a brown  paper bag with his lunch for the day – two filled baguettes, a slice of banoffi cake and a tin of Diet Coke.

‘I’m off to the management meting,’ she told him. ‘There’s no change in our positions. We’re holding some dollars but not much and I think we should stay that way. I don’t think I’ll be too long.. I can’t imagine that our glorious leader has anything new to tell us.’

‘OK,’ said Dave. ‘Are Marks & Spencer up for discussion?’

Alix stared at him. ‘What are you talking about?’

‘Why are you bringing tights along to the management meeting?’

She looked at the packet in her hand. ‘These are my emergency pair,’ she told him sternly. ‘And they are not Marks & Spencer. They’re a ridiculously expensive pair of Donna Karan which I bought in the duty free last time I came back from Paris.’

Dave laughed. ‘I obviously don’t know as much as I thought about women’s lingerie.’

‘Just as well,’ said Alix. ‘Otherwise I’d be worried about you.’

‘Oh, I’m good on stockings,’ Dave told her. ‘I’m an expert on stockings – it’s tights I can’t stand. I’m against them on principle.’

‘Stockings have their place,’ Alix agreed. ‘But not during office hours. Not for me anyway.’ She grinned at him. ‘See you later.’

She was the last to arrive in the boardroom. She apologised for delaying them and sat down in her usual seat opposite Des Coyle, the managing director of Europa Bank Dublin.

‘I thought we’d discuss profitability,’ said Des. ‘I know that Pat has a few things he’d like to bring up.’

Pat Enright, the bank’s chief accountant, began his presentation. Alix half listened to him. Although she was obviously concerned about the bank’s overall profitability, her priority was the profitability of the dealing room. She’d been Europa’s head of treasury in Dublin for he past few years and each year she had exceeded her targets. She had a reputation for spotting trouble, for finding new ways of making money and for concluding deals that no one else managed to complete.

While Pat talked about the profitability of the credit department (down because of a problem with a syndicated loan), Alix was planning a strategy for a customer to borrow yen and switch the proceeds into euros.

‘And the dealing room?’ Des broke  into her thoughts. ‘Another good month last month, Alix.’

“Yes,’ she said. ‘We did a couple of nice trade for Inico and Constant Images. We stayed long of US dollars and US bonds, both of which have performed well for us.’

‘Excellent.’ Des smiled at her. ‘Keep up the god work.’

She nodded. Nobody ever made comments about the dealing room and what the team of fur traders did. Nobody understood enough about it and, anyway, every one of the five men around the table was slightly in awe of Alix Callaghan and didn’t want to ask her a question that might appear stupid. Alix had a habit of exposing someone’s lack of knowledge – something hat nobody at Europa Bank could afford to have happen to them. Least of all at a management meeting.

When the meeting was finally over, Alix ran back upstairs to the dealing room. Davie hurriedly closed the sports page of the Irish Times as she opened the door.

‘How’s it going?’ she asked.

‘Boring,’ said Dave. ‘We bought a few more dollars but the rate hasn’t changed. It’s a dull, dull day.’

‘Never say that!’ she slid into her seat. ‘It’s tempting fate. And we’ve had a good week this week so let’s not mess things up.’ She looked around. ‘Where’s Gavin?” Gavin Donnelly was the newest and youngest member of the dealing team.

‘He’s at lunch with Alfonso in Banco Andalucia,’ Jenny told her. ‘You know how much he loves lunching with the opposition.’

Alix laughed. ‘He keeps trying to find out who’s earning more than him. She’s obsessed with status.’

‘I know,’  said Jenny. ‘Who are you telling?’

‘Oh, don’t worry about him,’ said Dave. ‘It’s just youth and exuberance.’

‘I’ll give him youth and exuberance,’ said Alix. ‘He knows perfectly well he should be back by now.’

Gavin arrived back for lunch at four o’clock. Alix looked pointedly at her watch when he walked in the door.

‘I know it’s Friday,’ she said. ‘and I know that it hasn’t been a particularly busy day. But you know that you’re meant to be back here by two thirty, Gavin. Where the hell were you?’ She didn’t really need to ask. It was obvious that Gavin and Alfonso had decided to go for a liquid lunch. Gavin’s eyes were bleary.

‘I was with Alfonso Moya. We were talking,’ he said defensively. ‘It’s good to know what the opposition are doing. They gave the five-year sterling swap this week.’

‘That’s fascinating information,’ said Alix dryly. ‘In how much?’

Gavin burped gently. ‘I didn’t ask. It’s not the sort of question you ask, Alix. You should know that.’

‘You’re so right,’ she said sweetly. ‘So they’re making money in five-year sterling, are they?’

‘Yes,’ said Gavin.

‘The same position that you lost six thousand on last week?’

Gavin stared at her. Jenny busied herself with the phones and Dave immersed himself in the paper again.

‘Gavin, it’s time for you to grow up,’ said Alix. ‘Don’t believe everything that everyone tells you. Don’t ever spend four hours at lunch without my permission again and do your trousers up properly. They’re a dead giveaway on the alcoholic lunch.’ She got up and walked out of the room.

Dave and Jenny tried to smother their grins.

‘She’s a bitch!’ Gavin tugged at his flies. ‘she thinks she’s so fucking high and mighty. Well, she’s not! There are plenty of people out there better than she is. I suppose she thinks she’s smart and witty! Well, one day I’ll pay her back.’

‘You were rather late,’ said Jenny mildly.

‘Oh, I might have known you’d stick up for her,’ said Gavin. ‘Well, you won’t get very far, Jenny Smith. She won’t do another woman any favours, you know. She likes to be in control. But one day she won’t be and I’ll be right there laughing at her!’