  An effective local quantum field theory with UV and IR cutoffs correlated in
accordance with holographic entropy bounds is capable of rendering the
cosmological constant (CC) stable against quantum corrections. By setting an IR
cutoff to length scales relevant to cosmology, one easily obtains the currently
observed rho_Lambda ~ 10^{-47} GeV^4, thus alleviating the CC problem. It is
argued that scaling behavior of the CC in these scenarios implies an
interaction of the CC with matter sector or a time-dependent gravitational
constant, to accommodate the observational data.
