US President Barack Obama’s stimulus plan has been condemned as “the road to hell” by the Czech Prime Minister Mirek Topolanek. The Czech Republic currently holds the rotating presidency of the European Union.
The US plans to spend nearly US$2 trillion to stimulate the US economy and has been critical of some EU countries for not planning similar big spending stimulus packages. Germany has been particularly reticent to splurge out.
Prime Minister Topolanek was reporting back to the European Parliament in Strasbourg on last week’s EU summit. He said EU leaders had been disturbed by calls from the US Treasury secretary Tim Geithner for EU stimulus spending similar to the US’s.
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