December 19, 2018 / 4:15 PM / 9 months ago

Germany lauds Italy's budget deal with European Commission

BERLIN, Dec 19 (Reuters) - German Finance Minister Olaf Scholz on Wednesday welcomed an agreement reached between Italy and the European Commission to resolve their lingering dispute over Rome’s budget plans.

“It is a good sign that Italy has now agreed with the European Commission on a common approach to the Italian budget,” said Scholz, who is also vice chancellor.

The European Commission on Wednesday reached a deal with Italy over its 2019 budget, avoiding disciplinary steps against Rome, ending months of verbal sparring and buoying Italian bonds and shares. (Reporting by Michael Nienaber, Editing by Joseph Nasr Editing by Maria Sheahan)

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