Starving Spain, Part III

... and starving the rest of the EU as well. Dig this.

STRASBOURG, France (AP) -- The president of the European Union slammed President Barack Obama's plans to have the U.S. spend its way out of recession as "a road to hell," underscoring European differences with Washington ahead of a crucial summit next week on fixing the world economy.

Czech Prime Minister Mirek Topolanek, whose country currently holds the rotating EU presidency, told the European Parliament on Wednesday that Obama's massive stimulus package and banking bailout "will undermine the liquidity of the global financial market." ...

"Americans will need liquidity to finance all their measures and they will balance this with the sale of their bonds but this will undermine the liquidity of the global financial market," said Topolanek.

The rest of the Euros have all wet themselves upon hearing this and are quickly moving to distance themselves from the Czech firebrand, but just how they plan to finance their own debt in the midst of a massive American hogschlopfeszt* has yet to be seen. Does this sound familiar?


* - yes, I invented that pseudo-German word. Just sound it out and you'll get it.