FRANKFURT, Nov 28 (Reuters) - A European Union aid package for Ireland provides a basis for the country to stabilise its economy and will help ensure financial stability in the euro zone, the European Central Bank said on Sunday.
Finance ministers from the 16-nation eurozone earlier agreed an 85-billion-euro ($115 billion) rescue package for Ireland.
"The Governing Council of the European Central Bank welcomes the economic and financial adjustment programme," the bloc's central bank said in a statement.
"The programme contains the necessary elements to bring about a sustainable stabilisation of the Irish economy.
"It addresses in a decisive manner the economic and financial causes underlying current market concerns and will thereby contribute to restoring confidence and safeguarding financial stability in the euro area."
The ECB said it welcomed the commitment of the Irish authorities to take any further appropriate measures. (Reporting by Sakari Suoninen; editing by Andrew Dobbie)