Czech PM Call’s President Barack Obama’s Economic Recovery Plan “A Way to Hell”

Speaking in the European Parliament on Wednesday Czech Republic Prime Minister Mirek Topolanek attacked the direction of the U.S. recovery plan calling President Barack Obama’s policies “a way to hell.”

Topolanek, addressing the European Parliament in his capacity as the current holder of the EU presidency, criticized Obama for his call to all countries to expand spending as a means of stimulating the world economy. The Czech PM stated, “We need to read the history books and the lessons of history and the biggest success of the (EU) is the refusal to go this way.”

Pointing to the growing U.S. budget deficit and Obama’s “Buy American” campaign Topolanek called the plan “the way to hell” and said the only way for the EU to get out of the current crisis would be to refrain from following the U.S. path.

Just one day before addressing the European Parliament the Czech PM announced he would be resigning from his position following a no-confidence vote that led to the collapse of his government.

The G20 summit in London is set for next month and a push for tougher financial regulations will b among the key issues expected to be addressed. Many EU leaders are not in favor of Obama’s continued spending, saying they want time to allow the existing stimulus measures to work.

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