    [Public Papers of the Presidents of the United States: William J. Clinton (1998, Book I)]
    [May 3, 1998]
    [Page 671]
    [From the U.S. Government Publishing Office www.gpo.gov]

    [[Page 671]]

    Statement on the European Economic and Monetary Union
    May 3, 1998

        We welcome this weekend's historic announcement that 11 European
    countries have qualified for, and decided to establish, an Economic and
    Monetary Union (EMU). The United States has long supported European
    integration. We admire the determination that Europe has shown in moving
    forward toward the economic convergence that makes EMU possible. A
    strong and stable Europe with open markets and healthy growth is good
    for America and for the world. A successful EMU that contributes to a
    dynamic Europe is clearly in our best interest.