This is historical material, "frozen in time." The web site is no longer updated and links to external web sites and some internal pages will not work.

THE WHITE HOUSE

                     Office of the Press Secretary
                        (Palo Alto, California)
________________________________________________________________________
For Immediate Release                                        May 3, 1998

STATEMENT BY THE PRESIDENT

We welcome this weekend's historic announcement that eleven 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.

-30-30-30-