BERLIN (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.