London

THE British referendum on whether to remain in the European Union (EU) will be a cloud over the whole community in the coming year.

Indeed political uncertainty in the EU, which is still struggling to pull itself out of stagnation some six years since the Great Recession, continues to have an impact on growth. Spain is the latest example, where Acting Prime Minister Mariano Rajoy is battling to form a new government after his Popular Party lost its parliamentary majority in last Sunday's general election.