The European Dimension

The third and last question covered in this survey relates to the mechanisms of EU integration, and more precisely to the emergence of so-called transnational networks. As was stressed in Chapter 1, there has been of late a significant amount of literature concerning the shape of the emerging European political system; and increasingly the concept of networks has been used in that context. So is it possible to define and characterize a European policy network in the sector of financial services along some of the lines specified in the book? This is what this chapter examines. The approach used is different from that expounded so far, more ‘impressionistic’. Drawing the boundaries of the pan-European network with the same degree of precision as for the British and French systems, tracing in great details the interactions between the myriad of organizations involved and producing statistical indices and graphs simply was not manageable here. Still, one could attempt to sketch a map of the EC polity in financial services, taking into account: the impact of Single Financial Market discussions on the establishment or reinforcement of pan-European representatives; the formal and informal linkages existing between the various categories of organizations participating in sectoral policymaking; and the role of non-EC actors in the setting up of a Community- wide regulatory frame in financial services.