Czech Prime MInister Topolanek brands Obama's fiscal stimulus as "the way to hell"

The policy of fiscal stimulus hasn't had a good week in the European Parliament.

The attack on Gordon Brown's position by MEP Daniel Hannan is now well documented, yet the following day in the very same chamber no less a figure than the Czech Prime Minister, Mirek Toplanek - who currently holds the Presidency of the European Union - launched a stinging attack on President Obama's economic policy.

Yesterday, in reference to the $787 billion spending plan being embarked upon by President Obama, and the $1 trillion he plans to pump into the financial system to revive lending, Mr Topolanek said:

"All of these steps, these combinations and permanency is the way 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 added that the package would "undermine the stability of the global financial market".

There is more on what he had to say and it implications for Czech-US relations in the below report screened on Russia Today.