U.K. to set policy on European Union soon

Note: This section contains information in English only.
Source: Dukascopy Bank SA
"I think the settled will of the Conservative Party is absolutely in tune with the settled will of the country"
- Prime Minister David Cameron

The U.K. is going to hold the referendum on the nation's membership in the European Union, the Prime Minister David Cameron said Monday. People will be offered two choices, either new, looser relationship with the EU or a British exit. Cameron's willingness to stay in the 27-member bloc created some tensions in his own Conservative Party. In the meanwhile, Cameron added that a deal on the European Union's multi-annual budget is reachable, despite the fact that the seven-year budget collapsed last month. The reason for that were additional spending cuts, proposed by the U.K., as the austerity measures should also be reflected in bloc's budget.

"I think the settled will of the Conservative Party is absolutely in tune with the settled will of the country," Cameron said. "We know in our heads we need to be part of this organization because we are a trading nation, but we know in our hearts we would like the relationship to work better."

"I think a deal is achievable. I thought what was interesting about the last set of negotiations was that the alliance between Britain, between Holland, and Germany, was pretty strong and pretty stable," Cameron told reporters.

© Dukascopy Bank SA

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