EU Leader: U.S. Economy On Road "To Hell"

Current European Union President Blasts White House's Stimulus, Bailout Plans

(CBS/AP)  The current head of the European Union presidency on Wednesday warned that the U.S. economic rescue plans were, "a way to hell."

Czech Prime Minister Mirek Topolanek told the European parliament in Strasbourg that the Obama administration's stimulus package and financial bailout risked undermining the stability of the global financial market.

"The U.S. Treasury Secretary, talks about permanent action and we, at our spring council, were quite alarmed by that. He talks about an extensive U.S. stimulus campaign. All of these steps, their combination and their permanency is a way to hell.

"We need to read history books and revisit the lessons taught by history," Topolanek said, taking the E.U. presidency on a collision course with Washington over the economic options to solve the world economic crisis.

The prime minister made the comments as he briefed parliament on the outcome of the EU's recent summit in Horsham, England. His comments came after British Prime Minister Gordon Brown called for more trans-Atlantic cooperation, lauding Mr. Obama for his willingness to cooperate.

At the EU summit in southern England, many EU nations expressed support for regulation, instead of further bailout efforts.

Topolanek was speaking one day after he offered the resignation of his government, after it lost a parliamentary no-confidence vote over its handling of the economic crisis.

It was a huge embarrassment for Topolanek, coming just days before a planned visit by President Obama and midway through the Czech Republic's six-month EU presidency.

It was the first time a government has been ousted by parliament since the country came into existence after the 1993 split of Czechoslovakia.

The government has struggled to resolve deep divisions within Parliament over whether to allow components of a U.S. missile defense shield on Czech territory, and whether to adopt the EU reform treaty to streamline decision-making in the bloc.

In recent months, opposition lawmakers also said they became frustrated with the government's response to the global economic slowdown. Before the crisis, the Czech Republic's export-oriented economy had been growing fast, but the country is expected to enter a recession this year.

The opposition said the government acted too late and did too little - approving a stimulus package only last month worth 70 billion koruna ($3.5 billion), including measures for investments in ecology and infrastructure along with tax cuts and loan guarantees.

"The government got what it deserved," said former Prime Minister Jiri Paroubek, who leads the opposition Social Democratic party. "It was not able to handle the affects of the economic crisis."

[noloyalisti]

Well, we are in hell from out foreign policy so we might also be there with our economic policy. I just hope those fine people over there are planning ahead for life after the US greed and overconsumption.

[zwaggsy]

Sadly the guy has a point. We are on our way to fiscal ruin if Congress does not stand up to Obama and stop his massive spending plans. I have to disagree with the EU leader though we are not all destined for hell. I plan on going to heaven when I leave this life. The EU leader might want to remember who freed Europe from NAZI tyranny and kept the hammer and sickle out of western Europe and the Cold War we waged with Russia was also instrumental in bringing down the iron curtain.
Posted by quickly101 at 4:17 PM : Mar 25, 2009

It was the combined allied forces that freed western Europe. Czechoslovakia was part of eastern Europe & therefore under Russian rule for over 50 years so why would they remember America with any fondness?

[amazedd]

And all the roads jam up with credit
And there's nothing you can do
It's all just bits of paper
Flying away from you

[toolmangler-2009]

that is rich, A 'Loser' telling us we are losers??? WOW!!!!!!!

[justlookinitover]

Seems to me that if we all sit around long enough, the truth will come out. Problem is, that truth may become apparent by circumstances that are devastating.

In a news conference a couple of weeks back, Obama made reference to the borrowing of the previous administration as the reason for his going even further into debt. I could be wrong but according to Albert Einsteinds deffinition, it sounds insane to me.

Oh yea, I almost forgot, the truth I was talking about....

Obama will either turn out to be a hero (highly unlikely), an fool or an accomplice (possibly innocent) to our enemies. The true road to recovery can only happen when the nation truly bottoms out.

Is it possible that leaders of nations that have bottomed out can see more clearly?

[amazedd]

Let me guess, Madoff?

[quickly101]

Sadly the guy has a point. We are on our way to fiscal ruin if Congress does not stand up to Obama and stop his massive spending plans. I have to disagree with the EU leader though we are not all destined for hell. I plan on going to heaven when I leave this life. The EU leader might want to remember who freed Europe from NAZI tyranny and kept the hammer and sickle out of western Europe and the Cold War we waged with Russia was also instrumental in bringing down the iron curtain.

[joeybergas]

Read your history books.
Posted by littlebuddyd at 12:20 PM : Mar 25, 2009

You shouldn't comment if you don't have all the facts. Obviously the last page in littlebuddy's history book is former president bush's picture on the aircraft carrier with the banner reading mission accomplished.
Get on the same page as most U.S.citizen. We are loosing our job, loosing our healthcare, loosing our homes. Someone needs to step up to the challenge and TRY! Thank you President Obama for trying. That is more than I can say for your critics.
Posted by NanSea226 at 1:14 PM : Mar 25, 2009


MY GOD WHY CAN'T ANYONE SPELL ANYMORE!? IF YOU CAN NOT SPELL THE WORD LOSE, YOU ARE LIKELY NOT EDUCATED ENOUGH TO KNOW ANYTHING ELSE, END OF STORY

[scottyusa]

Obama is a genius. He's managed to make Bush look good. No one else could possibly do that.
Posted by vancouverboo

Too funny. It is really funny because it is true!

[amazedd]

Brash, but true. Truth always is tough, eh Brown?

I bought a ticket to the world
But now I've come back again
Why do I find it hard to write the next line?
Oh, I want the truth to be said

[vancouverboo]

Obama is a genius. He's managed to make Bush look good. No one else could possibly do that.

[formrusmcsgt]

Topolanek was speaking one day after he offered the resignation of his government, after it lost a parliamentary no-confidence vote over its handling of the economic crisis.
----
Doesn't sound like he's in much of position to criticize leadership regarding the economy, does it?

[ptyoungthang]

This is how desperate repugs are - they are quote a doofus who got ousted by his own parliment.

Sooooo - what are the republican solutions. They have nothing...so the only thing they can do is sling insults.

Its not working. Vote DEM 2010

[gce651]

Ha! This is really Wall Street's mantra!
--------------------------------------------------
Living easy, living free
Season ticket on a one-way ride
Asking nothing, leave me be
Taking everything in my stride
Don't need reason, don't need rhyme
Ain't nothing I would rather do
Going down, party time
My friends are gonna be there too

I'm on the highway to hell

No stop signs, speed limit
Nobody's gonna slow me down
Like a wheel, gonna spin it
Nobody's gonna mess me round
Hey Satan, payin' my dues
Playing in a rocking band
Hey Momma, look at me
I'm on my way to the promised land

I'm on the highway to hell
Don't stop me............(GUITAR SOLO!!!!!!!)

And I'm going down............all the way down
I'm on the highway to hell

[gce651]

The economy isn't on the "road to hell."

"We're on a HIGHWAY to hell." --Thank you AC/DC

[NanSea226]

jwind1 - Sorry for the spelling error. Me bad.

[tomar01]

The Czech Leader can't run his own country..... nough said.

[cs4466]

CS4466: I don't think you can count the presidents of the European Union, in charge of the folks who cheered Obama when he visited with them, as Neocons. What happens with Europeans is that they actually see things for what they are. Obama was a fresh face, full of good ideas, the same ones he sold all of us on. Now, when it is time to deliver, they are starting to see him for what he is... A great orator. I saw a different Obama last night... One who reminded me a lot of Bush, as he stuttered through the tough answers. You see, a great orator does not have to think through what he is saying... He just has to have a good memory and be a good reader of the teleprompter.
Posted by USSAmerikan at 9:42 AM : Mar 25, 2009

Yea, your own weird conclusions to the side, I think if you line up the "presidents of the European Union" and ask them who they want in charge - GW Bush or Obama - and see what answer you get.

[NanSea226]

Read your history books.
Posted by littlebuddyd at 12:20 PM : Mar 25, 2009

You shouldn't comment if you don't have all the facts. Obviously the last page in littlebuddy's history book is former president bush's picture on the aircraft carrier with the banner reading mission accomplished.
Get on the same page as most U.S.citizen. We are loosing our job, loosing our healthcare, loosing our homes. Someone needs to step up to the challenge and TRY! Thank you President Obama for trying. That is more than I can say for your critics.

[walt1944]

The Czech prime minister has indi8cated that the US eceonomy is on a road to H-E-L-L.

I submit that were are already there!.

However, we must remember who put us all on that road in the first place, and it wasn't Barack Obama! Twenty years of Neocon Fascist Nazi Repubican greed, mismanagement, stupidity, and absolute trust in Corporate America to solve all our problems (by robbing us of our jobs, pensions, and pay), have given us the H-E-L-L we are in.

Maybe the neocons don't think of this as H-E-L-L, but the KLINGON version of HEAVEN, Stovakor!!!

HAIL O0BAMA!!!