EU President Herman Van Rompuy said today that the EU is ready to introduce another aid package if the current $1 trillion rescue failed in containing the debt problem in the euro area, and he revealed that the EU is ready to introduce any other measures in the case of the failure of this plan also.

The EU and IMF agreed to provide Greece 110 billion euros but it could not stop the debt contagion from spreading to other countries, more specifically Portugal, Spain and Italy which prompted the EU and IMF to unveil an unprecedented 750 billion euros lifeline to highly indebted countries in the euro zone.

Van Rompuy ensured that Greece will not default and no country will be forced to leave the European single currency. He added that it is currently difficult to tell how the drop in the euro will be helpful for the economy.