The German Chancellor Angela Merkel made a peculiar statement during the Munich Security Meeting. She said that the ECB’s monetary policy regarding the Euro is not based on Germany but rather it is adjusted on countries like Portugal, Slovenia or Slovakia, arguing that if the DM was still in circulation it would have a different value that what the Euro has now. As she stated, the Euro follows an independent monetary policy, which she as the German Chancellor has no influence on.

Mrs. Merkel made these statements as an answer to the meaningful accusation made by an advisor of President Trump, that Germany is benefitted greatly by a grossly undervalued Euro, while the US Vice-President Mike Pence was on the front row.