President Clinton has called on all the political leaders in Northern Ireland to act in the spirit of co-operation which produced the Belfast Agreement.
Speaking yesterday on Nantucket Island, Massachusetts, he said he believed the agreement could still be implemented in full by next May, despite the current problems over decommissioning and the presence of Sinn Fein members in the proposed executive.
The President, who was accompanied by Mrs Hillary Clinton, was addressing a fund-raising event for the American-Ireland Fund, which supports peace and reconciliation projects in Northern Ireland.
The President and Mrs Clinton have begun their summer holiday on the neighbouring island of Martha's Vineyard. The fundraiser took place on the property of Mr Bob Matthews, a real estate developer from Connecticut.
Mr Clinton also emphasised the economic dimensions of the peace process in Northern Ireland, pointing out that investment in jobs would give people a stake in the peace process.
He also expressed his appreciation for those involved in the Vital Voices project, which promotes a more active role for women in business and politics. The project is strongly supported by Mrs Clinton.
