Germany's Schaeuble praises Monti for Italy reforms

BERLIN Feb 21 (Reuters) - German Finance Minister Wolfgang Schaeuble praised Italy's outgoing Prime Minister Mario Monti on Thursday for making progress with reforms in the euro zone's third biggest economy.

"Things went well with Monti," Schaeuble said at an event with young people.

He declined to comment directly on the candidacy of former prime minister Silvio Berlusconi - a fierce critic of Monti's German-backed austerity drive - in Italy's Feb. 24-25 parliamentary election.

"We are not getting involved there," he said.

Commenting on a financial transaction tax recently agreed by 11 euro zone countries including Germany, Schaeuble said it would be wrong to expect too much in terms of new revenues at the outset.