Council Conclusions on the Deepening of the Capital Markets Union

THE COUNCIL OF THE EUROPEAN UNION: 
 
1. RECALLS its conclusions of 19 June 20151 and 10 November 20152 concerning the Commission Action Plan on Building a Capital Markets Union3 (CMU Action Plan) as well as its conclusions concerning the mid-term review of the CMU Action Plan from 11 July 2017.4 
2. WELCOMES the important steps taken and in particular the wide range of legislative measures finalised in recent years and the progress achieved so far under the remit of the CMU Action Plan. 
3. STRESSES that these measures are a significant first step towards deepening European capital markets and overcoming market fragmentation and structural barriers, and will therefore contribute positively to both the financing capacity available within the Union and to European financial stability stemming from deeper integration and more diversified funding sources across the Union. 

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