    [Weekly Compilation of Presidential Documents Volume 36, Number 25 (Monday, June 26, 2000)]
    [Pages 1407-1408]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Statement on Greece's Entry Into the Economic and Monetary Union

    June 19, 2000

        I congratulate Prime Minister Simitis and the Greek people on the
    decision today at the EU Summit in Portugal to bring Greece into the
    EU's Economic and Monetary Union (EMU), effective January 1, 2001.
    Reaching agreement to become a full member of the EMU a year before the
    euro currency is introduced demonstrates Greece's remarkable economic
    progress in recent years. This economic success complements Greece's
    increasingly active political role within the EU.
        Through determination and hard work, Greece succeeded in meeting all
    the Maastricht Treaty economic criteria. Entry into the EMU is not the
    end of the race but the start of a challenging new phase of economic
    reform. We wish the Hellenic Republic every success as it moves ahead
    and hope this will usher in a new era of increased trade and investment
    between our two nations.

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