BRUSSELS, Dec. 3 (Xinhua) -- Saving the euro from the current sovereign debt crisis plaguing Europe has proved to be costly.
Six months after lavishing 110 billion euros (145 billion U.S. dollars) on an unprecedented rescue of debt-laden Greece, European countries were forced to make a fresh 85-billion-euro (112-billion-dollar) aid package for debt-ridden Ireland last weekend.
Ireland is the second European victim that had to seek exterior aid to cope with the debt crisis, but, unfortunately, it might not be the last.
The more worrisome reality confronting European leaders is that the huge money poured has bought little stability for the euro.
The past week saw the euro continue to fall, stock markets tumble and tensions rise in Portugal, Spain and even Italy. The contagion threat was apparently not contained. With Portugal and Spain rumored to be in line for bailout, the bill for saving the euro looks set to rise.
No one knows how much more aid would be needed since it depends on where the domino effect could be stopped. This has cast shadows on the future of the euro.
It is fair to say that under the current circumstances, eurozone countries have no better choice than bailing out their fellows one by one.
However, is this urgent recipe a once-for-all cure for the future?
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