The rise of the European corporate elite: evidence from the network of interlocking directorates in 2005 and 2010.

The emerging European corporate network is becoming increasingly established. Here I compare the network of board interlocks among the largest stock listed European firms in 2005 and 2010. The findings show that, by 2010, the European network of corporate board interlocks was stronger than five years earlier. Whereas the European political elite was unable to counter the financial crisis through a common European approach, Europe is a fait accompli for the corporate elite. An analysis of the robustness of the network, its core, the central directors and the political geography suggests that there is a structural basis for overcoming the present Euro crisis that has been handled primarily at the political level.