The global financial crisis began 10 years ago and led to the EU’s worst recession in its six-decade history. The crisis did not start in Europe but EU institutions and Member States needed to act resolutely to counter its impact and address the shortcomings of the initial set-up of the Economic and Monetary Union. Decisive action has paid off: today, the EU economy is expanding for the fifth year in a row; unemployment is at its lowest since 2008; banks are stronger; investment is picking up; and public finances are in better shape. Recent economic developments are encouraging but a lot remains to be done to overcome the legacy of the crisis years. As robust as it is today, the EMU remains incomplete and the journey of the euro has just started. The Commission is fully mobilised to deliver on its agenda for jobs, growth and social fairness, drawing the lessons from the crisis and preparing the EU even better for future challenges.