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Chinese state media on Monday continued to play down the protocol-bending phone call last week between U.S. President-elect Donald Trump and Taiwan's president, with editorials in two newspapers saying the move showed Trump's inexperience. China's national English-language newspaper, the China Daily, said the 10-minute call "exposed nothing but the inexperience Trump and his transition team have in dealing with foreign affairs". The Friday call was the first by a U.S. president-elect or president since President Jimmy Carter switched diplomatic recognition from Taiwan to China in 1979, acknowledging Taiwan as part of "one China".
By Nichola Saminather and Wayne Cole SINGAPORE/SYDNEY (Reuters) - The euro was under the gun on Monday, skidding to a 20-month low after Italian Prime Minister Matteo Renzi said he would resign following a stinging defeat on constitutional reform that could destabilize the country's shaky banking system. Renzi's defeat deals a body blow to the European Union already reeling under anti-establishment anger that led to the shock exit of UK from the club in June this year. "But in the long run, this will delay progress in Italy's efforts to get rid of banks' bad debt and is likely to widen the yield spread of German Bunts and the Italian bonds," he added.