The Empire 417

'EU presidency: US economic plans 'a road to hell'

STRASBOURG, France ˜ The president of the European Union slammed
President Barack Obama's plans to have the U.S. spend its way out of
recession as "a road to hell," underscoring European differences with
Washington ahead of a crucial summit next week on fixing the world economy.

Other European politicians kept their distance from the blunt remarks by
Czech Prime Minister Mirek Topolanek, with some reproaching the Czech
leader for his strong language and others reaffirming their good diplomatic
ties with the U.S.

Topolanek, whose country currently holds the rotating EU presidency, told
the European Parliament on Wednesday that Obama's massive stimulus package
and banking bailout "will undermine the liquidity of the global financial
market."

European governments, led by France and Germany, say the focus should be on
tighter financial regulation, while the U.S. is pushing for larger economic
stimulus plans _ but nobody has so far escalated the rhetoric to such
strident levels.

Topolanek's remarks are the strongest criticism so far from a European
leader as the 27-nation bloc sticks to its position that its member
countries are already spending enough to stimulate demand.

The remark highlights the difficulties leaders may face coming up with a
common approach at the April 2 summit in London among leaders of the Group
of 20 industrialized and leading developing countries.

The host of the summit, British Prime Minister Gordon Brown, praised Obama
on Tuesday for his willingness to work with Europe on reforming the global
economy in the run-up to the G-20 summit.'
Lees verder: http://www.huffingtonpost.com/2009/03/25/mirek-topolanek-us-econom_n_178868.html