# 39; # 39; The war on Putin # 39; # 39; Documentary [complete]
The German Chancellor Angela Merkel and US Vice President Mike Pence attend the Munich conference February 18 2017.
German Chancellor Angela Merkel said that the euro has a valuation problem that is beyond its control and challenged the suggestion of US President Donald Trump that German luxury cars in his neighborhood of New York reflect a commercial advantage unfair.
Merkel said that the exchange rate of the euro contributed to the trade surplus of Germany, although the art because the European Central Bank must set monetary policy meeting the disparate economic performance in 19 countries L euro hit a low of 14 in December 0388 to US1 and closed at 0616 US1 Friday.
If we still had the deutsche mark, it would be assessed differently than the euro is now, Merkel said in response to a question about the current account surplus of Germany at the Munich Security Conference on Saturday but it's an independent monetary policy which Chancellor I have zero influence.
Comments are the largest yet to answer criticism of the administration Trump a depressed euro gives Germany an unfair trade advantage Peter Navarro, head of the National Board of Trade of Trump, this month criticized Germany to benefit from a single currency grossly undervalued.
United States The comments triggered a transatlantic spat that the administration is taking fights on Trade and President of the ECB Mario Draghi handling currency also rejected the comments of M. Navarro, saying the bank Frankfurt-based central hadn t intervened on foreign exchange markets since 2011, it has awarded Germany's surplus productivity.
Germany has a large bilateral trade surplus with the United States, a surplus of the current account equipment, but has not committed persistent unilateral intervention in the foreign exchange market, Draghi told the European Parliament on February 6.
Merkel also defended the export prowess of Germany, adopting a familiar line of quality manufacturing Germany could she responded on the request of M. Trump in January about the abundance of Mercedes-Benz cars of Daimler AG on Fifth Avenue, where Trump Tower is Merkel responded by selecting the Apple iPhones used by the crowd in Munich, which included our Vice- Chairman Mike Pence.
We are proud that we have good products, just as the Americans are proud of having good products, Merkel said that if you look around in this room how many iPhones and apples there, the vice president can be quite happy Fifth Avenue is still not exactly overflowing with German cars.
Merkel said other items taken into account in the debate on the surplus of Germany, including an aging society that affects savings habits She cited German investments in the United States, you need to look as well as the issue of trade surplus.
Just before a one-on-one with Mr. Pence, the highest level meeting yet between the government of Merkel and the Trump administration, Merkel said that trade issues will take much of the agenda between the two governments.
You see that we have much to talk about at all levels, said Merkel, who chairs the Group of 20 economies this year.
Merkel says euro weakness is beyond their control, merkel, euro, beyond.