Tensions over the handling of the global economic crisis intensified today as the prime minister of the Czech Republic, which also holds the European Union presidency, make the comment that U.S. stimulus measures are the "way to hell.". Speaking before the European Parliament in Strasbourg, France, PM Mirek Topolanek argued that President Barack Obama's fiscal package and financial bailout "will undermine the stability of the global financial market."

Topolanek's statements come just one week before a meeting in London of the Group of 20 that brings together the leaders of the world's biggest economies. The EU presidency rotates every six months, and the country holding the position is expected to speak on behalf of the whole 27-nation bloc.

Obama is preparing to travel to Prague in less than two weeks for a summit which is intended to boost transatlantic relations and show that the US and Europe are united over economic policy. However, Topolanek's statement underlines potential ideological strains between the two, and suggests that all of Europe perhaps isn't as on-board as Obama believes.

Others in the EU are critical of Topolanek, stating that his comments reflect that unlike other Eastern European countries, the Czech economy has proved resilient:

“He is sitting in the Czech Republic,” the official said “where growth is holding up relatively well and a fiscal stimulus makes no sense.”

“He has never been in favor of a big fiscal stimulus — though he did not argue against it at the E.U. summit.”