Czech PM defends 'road to hell' speech
30-03-2009
The outgoing Czech premier, Mirek Topolanek, has defended his description of US plans to use vast capital injections to boost growth as a "road to hell", saying such measures would not work for Europe.
Writing in London based newspaper, The Times, Mr Topolanek said his comments to the European Parliament were a "legitimate warning".
Mr Topolanek, whose country currently holds the European Union presidency, said the EU and the US were very different and they would need different solutions to the crisis.
"The welfare states of Europe act as 'automatic stabilisers', sustaining consumer spending even in a slump", he wrote.
"This means that Europe does not need such a large fiscal stimulus compared with the US, which does not have such a system of social support."
