EU presidency: US and UK economic recovery plans are 'a way to hell'

Barack Obama and Gordon Brown's plans to increase spending on economic recovery have been described as "a road to hell" by the European Union presidency.

By Bruno Waterfield in Brussels
Last Updated: 12:35PM GMT 25 Mar 2009



Mirek Topolanek: Mr Topolanek warned the European Parliament that the Obama administration's stimulus package and financial bail-out 'will undermine the stability of the global financial market' Photo: GETTY
Internal European divisions are growing over the Prime Minister and US President's strategies to fight the economic crisis just one week before a critical G20 summit in London.

Mirek Topolanek, the Czech prime minister who is running a caretaker EU presidency after the collapse of his government on Tuesday, highlighted European splits over fiscal stimulus plans promoted by Mr Obama, with Mr Brown's support.

Mr Topolanek warned the European Parliament that the Obama administration's stimulus package and financial bail-out "will undermine the stability of the global financial market".

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