Italy's Renzi dismisses risk of market contagion from Greece

ROME, Dec 29 (Reuters) - Italian Prime Minister Matteo Renzi on Monday categorically ruled out any risk that political instability in Greece may produce renewed market pressure on Italian assets.

Greek Prime Minister Antonis Samaras said he would propose an early national election on Jan. 25 after parliament rejected his nominee for president, sparking a decline in Italian and Spanish assets and a market dash for ultra-safe German bonds.

"I feel that I can totally exclude a contagion effect between Greece and Italy, which are profoundly different countries," Renzi told reporters at an end-year news conference.

He declined to make any political judgment on the prospect of a possible change of government in Greece.

(Reporting By Gavin Jones)