Statement on the European Economic and Monetary Union

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.