Taking note of the letter of the President of the Eurogroup of 10 December 2021 and of the Eurogroup Statement on the Draft Budgetary Plans for 2022, leaders also underscored the importance of continued close coordination of euro area fiscal policies, with the objective of firmly establishing a sustainable and inclusive recovery. They emphasised the importance of completing the Banking Union and of a deep, integrated and well-functioning Capital Markets Union. To that end, they look forward to the entry into force of the agreement amending the Treaty on the European Stability Mechanism and the early introduction of the backstop to the Single Resolution Fund. They also reaffirmed their commitment to the Banking Union, requesting that the Eurogroup in inclusive format finalise a work plan to bring the Banking Union to completion. Lastly, EU leaders called for accelerating progress in the deepening of the Capital Markets Union.