Klaus: financial crisis result of excessive state intervention

The global financial crisis is the result of excessive state interventions and irresponsible state spending, Czech President Václav Klaus says in Wednesday’s edition of the daily Mladá fronta Dnes. Mr Klaus says that the current situation is not surprising, considering the long years of extraordinarily successful economic growth. He added that it is misleading to believe that the situation could be prevented by some kind of global management of the world economy.