Michael Probst/AP

European Central Bank President Mario Draghi took exception Monday with Trump Administration accusations that the Euro is undervalued and that this has propped up Germany's export sector to the detriment of the U.S.

Draghi's view: because Germany doesn't have the authority to manipulate the value of the Euro, the accusations of the Trump Administration are baseless. The real reason for Germany's trade surplus is that it is more "competitive" than other economies.

Trump's view: If Germany had its own currency, the value of that currency would be much higher than the Euro to reflect its higher productivity. Germany is the beneficiary of the lack of competitiveness in places like Italy and Spain, and just because the German government isn't directly responsible for the Euro being too cheap, that doesn't mean that the U.S. worker isn't being harmed by its low value.

Our thought bubble: Germany benefitting from a cheap Euro is just another reason for the Trump Administration to dislike the European Union, and to support events that might help end the currency union.

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Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 p.m. ET: 31,201,975 — Total deaths: 963,068— Total recoveries: 21,356,412Map.
  2. U.S.: Total confirmed cases as of 11 p.m. ET: 6,833,931 — Total deaths: 199,815 — Total recoveries: 2,615,949 — Total tests: 95,841,281Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: U.K. upgrades COVID alert level as Europe sees worrying rise in infections — "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

Louisville police declare state of emergency as Breonna Taylor decision looms

A demonstrator holds up a sign of Breonna Taylor during a protest in Louisville, Kentucky. Photo: Brandon Bell/Getty Images

The Louisville police chief declared in a memo obtained by news outlets a "state of emergency" for the department on Monday to prepare for Kentucky Attorney General Daniel Cameron's expected announcement on the Breonna Taylor case.

Of note: Louisville has witnessed more than 115 days of protests over the police killing of Taylor, an unarmed Black woman, with calls for all the officers involved to be charged.

Sen. Cory Gardner on vacant Supreme Court seat: "I will vote to confirm"

Photo: Alex Wong/Getty Images

Sen. Cory Gardner (R-Colo.) will vote to confirm President Trump's nominee to replace the late Ruth Bader Ginsburg, he announced in a statement Monday.

Why it matters: The development is a win for President Trump and Senate Majority Leader Mitch McConnell (R-Ky.). It should mean Republicans are all but assured to have enough support to hold hearings for Trump's potential nominee.

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