[Weekly Compilation of Presidential Documents Volume 34, Number 19 (Monday, May 11, 1998)]
[Page 771]
[Online from the Government Publishing Office, www.gpo.gov]

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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.