On 24th November 2023, Confrontations Europe, in collaboration with the French Treasury and the AEFR organised, under the Chatham House Rule, the third edition of its annual conference on the Capital Markets Union around the Treasury representatives of six EU Member States. The following report summarises the debates which took place on this occasion. Eight years after the Capital Markets Union was launched, it is a good time to take stock. The Eurogroup, in inclusive format, is working to present a plan on capital markets at the Summit of EU leaders in March 2024, ahead of the new Commission mandate. Major transformative steps have been taken such the European Single Access Point, the CSRD, MiFID and AIFM reviews, although EU capital markets remain less developed than in other jurisdictions, most importantly in the US. Perhaps moving towards one single union should not be a goal in itself, as long as