COMMISSION STAFF WORKING DOCUMENT

This Commission Staff Working Document (SWD) accompanies the Communication on the Mid-term Review of the Capital Markets Union (CMU) Action Plan. The document provides an in-depth economic analysis of underlying long-term trends and capital market failures to underpin the policy priorities of the Mid-Term Review. Each chapter includes an introduction about long-term trends and main indicators. This is followed by a discussion about the drivers of those trends and the general policy implications.

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