Czech PM disses U.S. recovery plan

Czech Prime Minister Mirek Topolanek had nothing good to say Wednesday about the Obama administration’s efforts to jump-start the U.S. economy.

A Czech news agency said Topolanek told the European Parliament in Strasbourg, France, that pumping huge amounts of money into the economy just repeats mistakes made during the Great Depression of the 1930s, CNN reported.

Topolanek also said he was quite alarmed at U.S. Treasury Secretary Timothy Geithner’s plan to have the federal government buy up banks’ so-called toxic assets.

He talks about a large stimulus campaign by Americans, Topolanek said. All of these steps, their combination and their permanency, is a way to hell.

The Czech leader lauded the European Council’s refusal, thus far, to walk the same path as its biggest success this year.

We need to read the history books and read with it the lessons of history, Topolanek said.