    [Weekly Compilation of Presidential Documents Volume 35, Number 1 (Monday, January 11, 1999)]
    [Page 5]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Statement on the Launch of the New European Currency

     January 4, 1999

        We welcome the launch of the euro, an historic step that 11 nations
    in Europe have taken toward a more complete Economic and Monetary Union
    (EMU). The United States has long been an advocate for European
    integration, and we admire the steady progress that Europe has
    demonstrated in taking the often difficult budget decisions that make
    this union possible. A strong and stable Europe, with open markets and
    robust growth, is good for America and for the world. A successful
    economic union that contributes to a dynamic Europe is clearly in our
    long-term interests.