Identifying Difference and Potential Shared Beliefs: Domestic Issues and Financial Services Regulation

Abstract

As noted in Part I the European Union (EU) environment (or political space at the EU level) encompasses European integration; uploading, downloading and crossloading incorporate Europeanization. On the one hand, Europeanization can be seen as the source of change in relation to the EU level in terms of European integration and the development of supranationality. On the other hand, European integration can be seen as the source of change and Europeanization the outcome of change on member state’s governmental, legal and regulatory structures. Fundamentally, we have interactions between Europeanization and European integration in the construction and perpetuation of supranational institutions and development of EU and domestic policies and systems. Europeanization incorporates uploading from the member states, which can be undertaken by government, interest groups, sectors or companies. At some point Europeanization becomes European integration (this is difficult to pinpoint because of the continual interaction between the two areas) this is where EU institutions develop legislation, which is eventually downloaded to member states.