Klaus blames financial crisis on governments, not banks, in UN address

In his speech to the UN general assembly on Wednesday, Czech President Václav Klaus said that it was world governments, and not world markets, which lead to the ongoing global economic crisis. In his speech, the Czech president also drew attention to the fact that it was 20 years ago that the Iron Curtain fell, and that in this short time, Central and Eastern European countries had managed to transform themselves into stable political democracies, running on the basis of free-market principles.