Press Advisories

26. 3. 2009 8:41

Mirek Topolánek Calls for Discussion between the United States and EU

Different resorts will not hinder the search for common solutions of the current economic crisis.

On March 25, 2009, the President of the Council of the European Council Mirek Topolánek rejected criticism that the European Union is not doing enough to tackle the economic crisis. He emphasized that the European Economic Recovery plan totaling €400 billion amounts to 3.3% of the EU countries’ GDP and represents a strong response to the economic crisis.

According to the Czech Prime Minister, the European Union member states cannot adopt such extensive economic stimulus packages as did the United States, for this could destabilize many of them and could threaten the stability of the eurozone. The eurozone countries must comply with fiscal discipline rules, prescribed by the Stability and Growth Pact, while EU countries outside the eurozone must respect the Maastricht convergence criteria. This is the reason why the Prime Minister criticised the tendency for the stimulus packages to exceed the tolerable limit for economic recovery deficit financing.

However, this difference in resorts and possible solutions must not hinder the United States and the Europen Union in finding a common approach. The Prime Minister values the positive role of President Obama who rejects to find a solution based upon the dangerous and erroneous concepts of economic protectionism. In the 1930s, the world had already experienced the catastrophic effects of protectionism at the time of economic turmoil, and the Prime Minister warned of repeating mistakes of the past.

Mutual respect and understanding for different economic and social conditions as well as for different internal rules are the basis on which the European Union and the United States can build their common fight against the economic crisis and its effects. The upcoming G20 Summit in London as well as the April 5 Prague EU-USA Summit represent the first unique opportunites for finding common approaches for tackling the economic crisis. “I trust that we will find a common solution with the United States, because in no way we want to put the United States and the European Union against each other,” said Mirek Topolánek.

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