Short-term pain inevitable

Victor Mills Chief Executive Singapore International Chamber of Commerce

THE last thing Britain and the world needs now is an unnecessary distraction from much bigger issues: sluggish global economic growth, international terrorism, unsustainable immigration and the effects of climate change, to name a few.

Thanks to the willingness of European leaders to help British Prime Minister David Cameron, Britain has secured the deal it wants and arguably needs. It is excused from European political union and will continue to enjoy the benefits of close economic cooperation.

This is a good business deal. Should it vote to leave, Britain potentially will have to renegotiate trade deals with 27 partners to say nothing of managing immigration from Calais. It may be a close-run thing but my money is on Britain voting to …