The 10 most important things in the world right now

Lismore is cleaning up after last week’s flood which was a result of the storm of ex-tropical Cyclone Debbie. See more photos here. Photo: Getty Images.

Hello! Here’s what you need to know on Monday.

1. The French election is the major upcoming political risk in Europe. And if far-right candidate Marine Le Pen were to win it would place a “sword of Damocles” above the eurozone, according to JP Morgan Asset Management.

2. Spain has dropped its plan to veto any attempt by Scotland to join the EU after Brexit. Spain has long been seen as an obstacle to an independent Scotland joining the EU to deter separatists in some of its own regions.

3. Just 1 in 5 UK financial chiefs think Brexit will be good for business, according to Deloitte. Brexit remains the biggest risk for CFOs, but optimism is on the rise compared to the last quarter of 2016.

4. At least 250 people have been killed in Colombia after floodwaters smashed through the city of Mocoa. At least another 400 have been injured and 200 are still missing. President Juan Manuel Santos declared a state of emergency in the region.

5. Michael Flynn, US president Donald Trump’s former national security adviser, failed to disclose payments from Russian companies. In a financial disclosure form signed by Flynn on March 31, the former White House official listed speaking engagements to Russian entities. It did not say how much Flynn was paid, but the speeches are in a section titled “sources of compensation exceeding $5,000 in a year.”

6. Trump’s national security aides have reviewed US options aimed at curbing North Korea’s nuclear and missile programs. It includes a range of possible economic and military measures but leans more towards new sanctions and increased pressure on Beijing to rein in its neighbor. Trump has said if China does not solve the issue with North Korea, “We will. That is all I am telling you”. Trump will meet with Chinese president Xi Jinping this week.

7. China says US trade policies should respect international rules and improve cooperation and dialogue in reaction to two new orders by Trump calling for an investigation into trade abuses. It comes after Trump signed executive orders on Friday aimed at investigating possible abuses causing large US trade deficits and stopping import duty evasion.

8. Australian cyclone Debbie will cost insurers more than $AU1 billion. Despite making landfall almost a week ago, the destruction of the storm is still being felt across the south east coast of the country. One major town in the state of Queensland is bracing to be hit by its worst flood in 60 years this week.

9. Serbia has elected prime minister Aleksandar Vucic as president. With most votes counted, the pro-EU candidate appears to have won about 55% support, the threshold to avoid a run-off. Vucic said the people had voted for his policy of joining the EU without turning away from traditional allies Russia and China.

10. Greenland’s coastal ice caps have passed a point of no return. And it’s unlikely in current conditions that they’ll be able to regrow the ice they’ve lost. While researchers identified that this tipping point was reached two decades ago back in 1997 — no one noticed until now.

And finally…

Amazing images of the world’s greatest cities before they were cities

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