EU President: obama's economics plan a "road to hell"

[Xoce]

http://sweetness-light.com/archive/eu-president-obama-plan-road-to-hell

EU presidency: US economic plans ‘a road to hell’

By RAF CASERT, Associated Press Writer

STRASBOURG, France – The president of the European Union on Wednesday slammed U.S. plans to spend its way out of recession as "a road to hell."

Czech Prime Minister Mirek Topolanek, whose country currently holds the rotating EU presidency, told the European Parliament that President Barack Obama’s massive stimulus package and banking bailout "will undermine the liquidity of the global financial market."

A day after his government collapsed because of a parliamentary vote of no-confidence, Topolanek took the EU presidency on a collision course with Washington over how to deal with the global economic recession.

The blunt comments pushed other European politicians into damage control mode, with some reproaching the Czech leader for his language and others reaffirming their good diplomatic ties with the U.S.

Most European leaders 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, who will remain EU president until a new Czech government is established, bluntly said that "the United States did not take the right path.".

He slammed the U.S.’ widening budget deficit and protectionist trade measures — such as the "Buy America" policies included in the stimulus bill, although Obama has said he opposes protectionism in principle.

Topolanek said that "all of these steps, these combinations and permanency is the road to hell."

"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," he said.

"Americans will need liquidity to finance all their measures and they will balance this with the sale of their bonds but this will undermine the liquidity of the global financial market," said Topolanek.

Since the EU presidency is expected to always to take the sensitivities of the member nations into account, the statement was daring and alarmed other European leaders, who moved quickly to mend fences with Washington.

Martin Schulz, leader of the Socialist group in the European parliament, said it was "not the level on which the EU ought to be operating with the United States."

"You have not understood what the task of the EU presidency is," he told Topolanek in the debate…

Although German Chancellor Angela Merkel has warned against a spending race and said that ever bigger bailouts would create too much of a budgetary risk, French President Nicolas Sarkozy said Tuesday he is prepared to support the economy with a new spending package that may go down well in Washington…

[Confederate Kahanist]

The EU president is right.  We have to stop this Obamanation!!!

[Xoce]

And this is the photo they used with the article. 


Czech Prime Minister Mirek Topolanek puts on headphones Wednesday, March 25, 2009 at the European Parliament in Strasbourg, eastern France.

[Benjamin_D]

Obama is insane and everyone is realizing it.