18 MAR 2011
By Nina Koeppen
FRANKFURT (Dow Jones)--The European Central Bank Thursday welcomed a draft European Council decision about the euro zone's stability mechanism, but said governments should consult European Union institutions when deciding upon the activation of the bailout fund.
The ECB also urged member states to promptly approve the decision that will help to provide temporary funding to struggling euro-zone countries.
Governments should consult with EU institutions--such as the European Commission and the ECB itself--when deciding upon the "activation of the European Stability Mechanism" and conditions of financial assistance, the ECB said.
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