 | | Greece needs to appoint a new finance minister after Yanis Varoufakis resigned today. Milos Bicanski/Getty Images | Your Monday Briefing By ADEEL HASSAN |
| Good morning. |
| Here's what you need to know: |
| • Uncharted waters. |
| After his victory in the bailout vote on Sunday, Greece's prime minister has little time to celebrate, with his nation's future as a member of the eurozone still at risk and with no precedent to guide him. |
| Alexis Tsipras needs to appoint a new finance minister after Yanis Varoufakis resigned today; decide whether his country's banks will reopen on Tuesday; and propose new bailout terms to his international creditors. |
| The European Central Bank meets today to decide whether to stop providing cash to Greek banks, though it may postpone its move until Tuesday's emergency session of heads of state from eurozone countries. |
| European stock markets are down more than 1 percent, and the euro fell to $1.1069. We're following live developments. |
| • The president's view on Syria. |
| President Obama is briefed today at the Pentagon on the situation in Syria before speaking on the subject this afternoon. |
| A U.S.-led coalition carried out 18 airstrikes over the weekend in Raqqa, Syria, astronghold of Islamic State militants. There were 26 strikes in ISIS-controlled territory in Iraq. |
| • Papal travels. |
| Pope Francis is expected to speak about climate change and environmental degradation during his visit to Ecuador, home of the Amazon rain forest, the Andes and the Galápagos Islands. |
| It is his second trip to South America since he became pontiff in 2013. The region has almost 40 percent of the world's Roman Catholics. |
| • The fate of the Confederate flag. |
| The South Carolina State Senate is scheduled to consider today a bipartisan proposal to remove the Confederate battle flag that flies on the State House grounds. |
| A survey of lawmakers found last month that there was most likely enough support in the legislature to approve the plan for the flag, viewed by many as a tribute to the South's segregationist past. |
| • Long days and nights. |
| Secretary of State John Kerry says the negotiations over Iran's nuclear program "could go either way." |
| Diplomats in Vienna are hoping to clinch a deal by Tuesday. If they do, then the Obama administration could submit it to Congress this week for a 30-day review period. |
| Congress returns today from its Independence Day break. |
| • U.S. regains Women's World Cup. |
| The U.S. trounced Japan, 5-2, in the Women's World Cup final Sunday night in Vancouver, British Columbia. It was a rematch of the 2011 final, which Japan won on penalty kicks. |
| Carli Lloyd scored three goals to give the Americans their third championship. They also won in 1991 and 1999. |
| MARKETS |
| • Most futures trading pits in Chicago and New York are expected to close for good today, as their frenzied trading moves to computers. |
| • Chinese stock indexes today went from an early plunge of 7 percent to close 2 percent higher. Asian markets in general are nervous about steep declines in China shares over the past three weeks. |
| • Rolls-Royce shares fell 8 percent after it again warned that its profit could be lower than expected and it halted its share buyback program. |
| OVER THE LONG WEEKEND |
| • Tunisia declared a 30-day state of emergency after two fatal terrorist attacks on tourists in the past month. |
| • A solar-powered plane broke the record for longest nonstop solo flight. |
| • The health insurer Aetna said it would acquire its smaller rival Humana for $37 billion. |
| • At least seven people were killed in shootings in Chicago. |
| • The death of a woman in Washington State in the spring was confirmed as the first U.S. fatality from measles in 12 years. |
| • Mitt Romney had a slumber party with Gov. Chris Christie of New Jersey and Senator Marco Rubio of Florida, along with their families. |
| • Four Kansas City Royals players were voted in as starters for Major League Baseball's All-Star Game, twice as many as any other team. |
| • Fidel Castro, 88, the former Cuban leader, took a rare trip outside his Havana home to visit 19 cheese masters. |
| • The Grateful Dead closed out their final concert with the words "Please, be kind." The band set an attendance record of 70,844 at Soldier Field in Chicago. |
| • "Jurassic World" was the weekend movie box office winner in North America. Pixar's "Inside Out" was a close second, and "Terminator Genisys" faltered. |
| • Catching up on TV: Episode recap for "True Detective." |
| NOTEWORTHY |
| • Sibling rivalry renewed. |
| They have each won five singles tennis titles, and have teamed up to win five more in doubles at Wimbledon, England. |
| The fourth round match between Serena Williams and her older sister Venus highlights today's action (7 a.m. ESPN2, 8 a.m. ESPN). |
| • Custody battles. |
| In the documentary "Tough Love," two parents — one in New York City and one in Seattle — fight to win back the trust of the courts and reunite their families after their children were removed from their care (PBS; check local listings for time). |
| • Injury for Rory McIlroy. |
| The No. 1 ranked golfer is assessing his ruptured ankle ligament "day by day" nine days ahead of the British Open. |
| • In memoriam. |
| Burt Shavitz, the Maine beekeeper who co-founded the Burt's Bees natural cosmetics company, died in Bangor at age 80. |
| • Happy birthday. |
| The Dalai Lama celebrates his 80th birthday today with talks on compassion, creativity and climate change. A CD with contributions from Sting, Lorde and others, "Songs for Tibet II," will be released. |
| And the world's oldest person, Susannah Jones of Brooklyn, turns 116. |
| BACK STORY |
| Markets worldwide have soared and sunk on Greece's trials and tribulations. Are global investors really shaken up by the debt crisis in Athens? |
| There's an index for that. |
| It's called the Chicago Board Options Exchange Market Volatility Index, better known as the VIX, or even as the "fear index." |
| The once-obscure barometer measures how much investors think the U.S. stock markets will fluctuate over the next month. A figure over 30 is associated with a lot of volatility and risk. |
| The index dates to 1993, when a Duke University professor came up with a formula to quantify market anxiety. It is now based largely on Standard & Poor's 500 options, or contracts to buy stocks at a specific price in the future. |
| While the VIX has increased some during the Greek debt crisis, it closed at its peak, 80.86, during the economic crisis of 2008. On Thursday, it ended at 17.97. |
| Despite its public profile in times of fiscal tension, like now, critics are skeptical of the index's usefulness. |
| Some also believe coverage in the news media of the VIX shooting upward only adds to the panic. |
| Well, sorry about that. |
| Kathryn Varn and Victoria Shannon contributed reporting. |
| Your Morning Briefing is published weekdays at 6 a.m. Eastern and updated on the web all morning. |
| What would you like to see here? Contact us at briefing@nytimes.com. |
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