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Merkel suggests euro is too low for Germany
German Chancellor Angela Merkel suggested on Saturday that the euro was too low for Germany but made clear that Berlin had no power to address this "problem" because monetary policy was set by the independent European Central Bank. Merkel made her remarks at the Munich Security Conference as U.S. Vice President Mike Pence looked on. They seemed aimed at addressing recent criticism from a top trade adviser to President Donald Trump, who has accused Germany of profiting from a "grossly undervalued" euro. "We have at the moment in the euro zone of course a problem with the value of the euro," Merkel said in an ... (full story)
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Merkel Says Weak Euro Isn't Her ‘Problem’ in Stand on Trump
German Chancellor Angela Merkel said the euro has a “valuation problem” that’s beyond her control and questioned President Donald Trump’s suggestion that the German luxury cars in his New York neighborhood reflect an unfair trade advantage. Merkel said the euro’s exchange rate does contribute to Germany’s trade surplus, though that’s because European Central Bank’s needs to set monetary policy that responds to disparate economic performances across 19 nations. The euro reached a 14-year low of $1.0388 in December and closed at $1.0616 on Friday. “If we still had the deutsche mark, it would be valued ... (full story)
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