Germany's Scholz: New Italian government good news for Europe

German Finance Minister Olaf Scholz said on Thursday that the formation of a new Italian coalition government was good news for Europe and that he was glad to see that a "stable and progressive" government could take over.

Italy's president asked Giuseppe Conte to head a coalition of the 5-Star Movement and opposition Democratic Party (PD) on Thursday, a move that could mark a turning point in Italy's frayed relations with the European Union.

"That's good news for Europe. I'm glad to see that the government crisis in Italy seems to have come to an end now and that a stable and new, progressive government can take the helm," Scholz told Reuters.