There is no sign of a looming euro zone crisis due to political upheaval in Italy, German Finance Minister Olaf Scholz said on Wednesday.

Asked if he feared a new euro zone crisis, Scholz told German television: “No, there is no sign of that.” 

Agreement had been reached with Italy on developing the European stability criteria even with the current government in Rome, he said. “And it looks as if a new government, perhaps with a different composition, will emerge.”