"Europe is reluctant to accept this, and it refuses to admit this in public, retending it is a role model for the rest of the world, which is no longer true."

Czech President Vaclav Klaus said Friday that Europe, with its groing economic crisis, is no longer a role model for the world, but it refuses to accept and admit this fact.

In a business conference that he took part in, Klaus indicated that “the situation in the world is changing, with Europe relatively lagging behind formerly non-existent economic centers, with economic dynamics moving outside Europe, and with the self-confidence of these fast-growing countries," pointing out to China, India and Brazil.

"Europe is reluctant to accept this, and it refuses to admit this in public, retending it is a role model for the rest of the world, which is no longer true," he added.

The Czech president further complained that “the continent was running short of breath and performance, lacking a longer-term concept, consuming rather than investing, running into debt rather than saving, and resting rather than working.”

Moreover, Klaus explained that “the eurozone debt crisis is a logical outcome of Europe's development in recent years,” noting that “not only the euro but also the European integration concept and hence the whole EU model were in a crisis.”

"The eurozone is the weakest link, so no wonder this is where the biggest visible problem has occurred," he said.

Yet he expressed his “optimism that this wouldn’t result in a run on banks.”

“After all, consumers have almost nowhere to run… the dollar is no better off," he said.