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The 10-Point: My Guide to the Day's Top News.

The Wall Street Journal
Good morning,
Greece the Skids
In a fateful climax to five years of funding crisis, Greece has been cast into extraordinary uncertainty after Prime Minister Alexis Tsipras called a referendum on the country’s debt conditions over the weekend. At stake is Greece’s European identity, writes our columnist Simon Nixon. The government shut down its stock market and banking system this morning, and its central bank moved to impose capital controls. The latest decisions put Greece closer than ever to an exit from the euro and cast doubt over whether Athens can strike a deal with its creditors, denting investor optimism. European stocks have slumped and the yen has gained against the euro. Meanwhile, antiestablishment parties across Europe expressed their support for Mr. Tsipras’s risky decision to allow Greek citizens the final say next Sunday. For the latest on the crisis, read our live blog.
Syrian Escalation
U.S. intelligence agencies believe there is a strong possibility that the Assad regime will use chemical weapons on a large scale if Islamist fighters threaten Syrian government strongholds. The analysis underlines what U.S. officials describe as growing signs of the regime’s desperation on the battlefield. The intelligence is “being taken very seriously because he’s getting desperate” and because of doubts within the U.S. intelligence community that Mr. Assad gave up all of his deadliest chemical weapons, a senior U.S. official said. Any large-scale use of chemical weapons would exacerbate the dilemma the Syria conflict poses for the Obama administration.
Chinese Whispers
China is struggling to balance volatility in the markets following the central bank’s surprise move over the weekend. In yet another monetary easing, the People’s Bank of China cut the benchmark lending and deposit rates and reduced the amount of funds some banks are required to hold in reserve. The result was a major stock-market selloff. The PBOC’s moves and the market’s response underline not just investors’ dependency on signals from a central bank that often fails to clarify its intentions but also how hard it is for China’s leaders to steer credit. Check out five questions about the PBOC’s latest easing measures.
What’s Up Doc?
Bugs Bunny and Scooby-Doo are making a comeback. The iconic cartoon characters are coming off the bench this year for a new mission: to make Time Warner a bigger competitor in the children’s television business. As part of an agreement between Warner Bros. Animation and Turner Broadcasting’s Boomerang Network, the studio will create about 450 half-hours of content for the cable channel. And on the big screen, the return of a foul-mouthed teddy bear isn’t turning out to be the franchise its backers had hoped. According to an estimate from its distributor, “Ted 2” opened to a lackluster $33 million in the U.S. and Canada.
TOP STORIES
U.S.

Escaped New York Murderer David Sweat Shot and Captured

Will He Run? Biden Speculation Mounts
WORLD

French Gas Plant Attack Suspect Sent ‘Selfie’ With Severed Head

Taiwan Water Park Fire Injures Hundreds
BUSINESS

SpaceX’s Falcon 9 Rocket Breaks Up After Florida Liftoff

U.S. Panel Aims to Shield Planes From Cyberattack
MARKETS

Morgan Stanley Weighs New Bond-Trading Push

Online Lenders Offer New Competition for Banks
TODAY'S VIDEO
The New Law of the Land
That Was Painless
A Supreme Court decision has made gay marriage legal in all 50 states. What constitutional principles did the court’s majority apply, and what are the implications? WSJ’s Jason Bellini has #TheShortAnswer.
NUMBER OF THE DAY
10,928
The number of foreigners that applied to invest in the U.S. through the EB-5 immigrant-investor program—a fast track to green cards—in the fiscal year ended Sept. 30, up more than 70% from 6,346 a year earlier.
QUOTE OF THE DAY
Parents were looking for their children. Children were looking for their parents. Husbands were looking for their wives...It was trauma I had never seen before. I didn’t feel like I was in Tunisia
Daysam Fradi, an administrator at a health clinic in the coastal city of Sousse, on the aftermath of a fatal shooting at a resort—the worst terror attack in Tunisia’s history.
TODAY'S QUESTION
What are your thoughts on the U.S. Supreme Court’s decision to make gay marriage legal in all 50 states? Send your comments, which we may edit before publication, to 10point@wsj.com. Please include your name and location.
—Compiled by Khadeeja Safdar
READER RESPONSE
Responding to Friday’s question on the Greek crisis, Jean-Marc Dupuis wrote from France: “In a visit to Athens two years ago I was shocked to see a place that looked so desperate. One comes across so many closed stores, seedy gambling places, decrepit buildings. It’s a nightmarish scene that reminded me of the scene in the movie ‘It’s a wonderful life,’ where James Stewart gets to see what the city could have looked like without his presence. What Greece is missing is this good and smart person who truly cares about its citizens and who understands that deep rooted problems take a long time to fix.” Rich Irwin of Ohio commented: “I think the Greeks are trying to avoid the tremendous pain that would be caused by the austerity measures called for by their creditors. The worse part is the longer they try and avoid this, the more painful this situation becomes. This could be a prelude for other nations that also have huge amounts of debt.” Colin Turner weighed in from Florida: “Further ‘compromises’ only enable Greece and delay the changes needed for the country to stand on its own.” And James J. Hyland of Wisconsin wrote: “One can argue if a single currency like the euro was the right move for the European Union, as there are compelling arguments on both sides. However, one cannot argue about burdening one’s country, city or company with out-of-control debt. Whether it’s Greece, Chicago or the scores of U.S. companies who went through restructurings because of inane leverage, debt is too often the magic wand of keeping popularity intact.”
This daily briefing is named "The 10-Point" after the nickname conferred by the editors of The Wall Street Journal on the lead column of the legendary "What's News" digest of top stories. Technically, "10-point" referred to the size of the typeface. The type is smaller now but the name lives on.
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