Statement on the Launch of the New European Currency

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 longterm interests.