 | | Greek retirees outside a branch of the National Bank of Greece in Athens today. All banks are closed. Angelos Tzortzinis/Agence France-Presse - Getty Images | Your Monday Briefing By ADEEL HASSAN |
| Good morning. |
| Here's what you need to know: |
| • Stock sell-off over Greece. |
| European stock markets are sagging by 3 percent today — and Wall Street is signaling a 1 percent decline — as Tuesday's deadline for Greece to pay $1.8 billion in debt approaches with no resolution. |
| Though investors are unnerved and Greece's prospects for staying in the eurozone are uncertain, the sell-off appears not to be a widespread panic, analysts say. We have live coverage. |
| Greek banks are closed and A.T.M. withdrawals restricted until after a referendum on Sunday, called unexpectedly by Prime Minister Alexis Tsipras, on whether to accept tough payment terms from international creditors. |
| • "This is not politics, this is math." |
| Puerto Rico's governor, saying he needs to pull the island out of a "death spiral," says the commonwealth cannot pay its roughly $72 billion in debts. |
| His proposed restructuring of the island's debts today sets the stage for an unprecedented test of the U.S. municipal bond market. |
| As a commonwealth, Puerto Rico does not have the option of bankruptcy. A debt default would most likely leave the island in a legal and financial limbo that, like the Greek debt crisis, could take years to sort out. |
| • Iran deadline at risk. |
| Iran's top nuclear negotiator is back in Tehran today to consult with his nation's leadership. |
| Tuesday is considered the deadline for a final deal, but negotiators remain divided over how to limit and monitor Iran's nuclear program and even on how to interpret the preliminary agreement they reached two months ago. |
| • Supreme Court session closes. |
| The Supreme Court meets today for the final time this term to decide three cases and add some new ones for the term that starts in October. |
| • Grieving is not over. |
| Two more funerals are held in Charleston, S.C., this week for the victims of this month's church shooting, with one this morning. |
| • In Washington. |
| President Obama signs legislation on trade adjustment assistance today and hosts a working dinner with President Dilma Rousseff of Brazil. Climate change is the top issue on their agenda. |
| Congress is off this week. |
| • Vaccine bill moves forward. |
| California lawmakers are expected today to take the final vote before sending a measure requiring vaccinations for most children in public schools to the governor. |
| If the bill becomes law, California would join Mississippi and West Virginia as the only states with such strict requirements. Gov. Jerry Brown, a Democrat, has not said if he would sign the legislation. |
| MARKETS |
| • The Asian Infrastructure Investment Bank, a rival to existing international finance organizations, opens for business, with China the largest of 57 shareholder countries. |
| Absent from the signing today were the U.S. and Japan, who lead the World Bank and the Asian Development Bank. Australia, which the Obama administration had lobbied to stay away, was the first country to sign. |
| • Fiat Chrysler is telling 65 owners of Jeep Grand Cherokees and Dodge Durango sport utility vehicles to immediately stop driving them because of a suspension defect. |
| It is unusual for a recall to be so serious that an automaker tells owners to stop driving. The company said about 7,700 other cars needed to be inspected for the defect. |
| • Wall Street stock futures, with an eye on the European slide, are off about 1 percent. |
| In Asia, an interest-rate cut by Beijing on Saturday failed to stem the fall in Chinese stock markets, which closed off 3 percent. |
| OVER THE WEEKEND |
| • The police shot and captured on Sunday the second of two convicted murderers who had escaped an upstate New York prison. The first was shot and killed on Friday. |
| • Jubilant marchers celebrated Friday's Supreme Court ruling at Gay Pride Parades in New York, San Francisco and elsewhere. In Istanbul, the police used water cannons and tear gas against marchers. |
| • A SpaceX unmanned cargo ship destined for the International Space Station disintegrated just after launch from Cape Canaveral, Fla. |
| • A 20-year-old woman died from burns after an explosion and fire at an amusement park in Taiwan. More than 500 others were injured. |
| • The Episcopal Church elected its first African-American presiding bishop. |
| • Chris Squire, the influential rock bassist of the British band Yes, died in Phoenix. He was 67. |
| • The U.S., Germany, England and Japan, the defending champion, advanced to the women's World Cup semifinals. Play resumes on Tuesday. |
| • "Jurassic World" continued to roar at the weekend movie box office. |
| • Catching up on TV: Episode recap for "True Detective." |
| NOTEWORTHY |
| • Wimbledon begins. |
| The No. 1 seed Novak Djokovic opens the grass-court tennis tournament today on Centre Court against Philipp Kohlschreiber (7 a.m. to 4:30 p.m. Eastern, ESPN). |
| The top women's seed, Serena Williams, is hoping to move a step closer to becoming the first calendar-year Grand Slam-winner since Steffi Graf in 1988. |
| • Librarians' top picks. |
| Anthony Doerr's World War II novel "All the Light We Cannot See" won the Andrew Carnegie Medal for Excellence in Fiction on Saturday. The medal for nonfiction was awarded to Bryan Stevenson's book on the criminal justice system, "Just Mercy." |
| The prizes were announced by the American Library Association. |
| • What's on. |
| The documentary "Larry Kramer in Love & Anger," about the outspoken playwright and activist, is a stark reminder of how different things were for gays just two decades ago, our reviewer says (9 p.m. Eastern, HBO). |
| And Amazon introduces the pilots for six possible children's shows, and viewers can give feedback on those they want to see turned into full series. |
| BACK STORY |
| There has been lots of chatter this month about who should become the first woman on U.S. paper currency. |
| But had the American Revolution failed, Queen Elizabeth II would most likely be on our bills and coins today. She is already the woman on the most currency notes in history. |
| The monarch is on the back of every bill and coin in her kingdom. |
| She has also been, or is, on the money of the 53 states in the Commonwealth. Canadian coins, for example, have national symbols, usually wildlife, on the back, and the queen on the front. |
| One common characteristic is that the queen faces right. It's a British tradition, dating from the 17th century, for successive monarchs on coins to look in alternate directions. |
| So her father and immediate predecessor, King George VI, was shown facing left. And that's the direction the next king will also look when Queen Elizabeth is replaced on currencies. |
| 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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