Iran Press/ Europe: The European Union finally agreed to a comprehensive €750 billion rescue fund to help ailing member states to recover from the coronavirus pandemic.
The agreement came to light after nearly five days of discussions and only after both the EU and opposing member states agreed to fundamental compromise on the proposal.
Meanwhile, Sweden MEP Charlie Weimers warned the hard stance Emmanuel Macron, Angela Merkel and the bloc adopted to secure an agreement will ultimately spark a new wave of Euroscepticism among voters.
"I’ve read the Swedish Financial Times and its analysis said this is ‘economic madness, so is the United States of Europe created.’ This is a newspaper known for its pro-EU stance, historically.
"We are a non-euro country, we had one of the option to stay out from the start, that was one of Charles Michel’s initial proposals, an opt-out possibility."
European Commission President Ursula von der Leyen welcomed the agreement, insisting the lengthy negotiations had been “worth it.”
EU figures hailed the coronavirus recovery fund as a “historic” step forward for cooperation among the bloc.
But former Greek Economy Minster Yaris Varoufakis suggested the agreement marks an additional lurch towards the disintegration of the European Union.
Writing for the Guardian, Mr Varoufakis insisted he backed EU proposals for the mutualization of debt but suggested the money would not be sufficient to safeguard the bloc from the widespread budget deficits forecast for many member states.
The former minister also warned the fund is set to spark "recriminations" down the line due to a clause allowing member states to freeze payments to fellow EU countries to investigate how the funds are being spent.
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