Cameron Wastes No Time Negotiating A New EU Membership For The UK

Loading...
Loading...
Just days after being re-elected in a close-call vote, British Prime Minister David Cameron said he's already begun the process of renegotiating the UK's membership in the EU. One of Cameron's campaign promises was to hold a referendum on the region's EU membership once he'd negotiated a better deal for British people. However some members of his party are pushing to move the vote forward. A New Deal Cameron has already
gotten in touch
with several EU leaders to begin discussing new membership terms. He is set to meet with French President Francois Hollande and his Irish counterpart Edna Kenny in the coming weeks to discuss the issue. Cameron, along with the majority of British people, wants to remain a part of the eurozone; but he says certain aspects of membership will need to be revised. He says he will need until 2017 to negotiate, but some members of his Conservative party are pushing for a referendum vote in 2016.
Immigration At The Forefront
One of the hot button issues in the EU debate is immigration as current laws allow for the free movement of people within the EU. Most EU leaders say this part of the treaty is non-negotiable, but Cameron is looking to make it harder for citizens of one EU nation to collect welfare benefits in another, an initiative likely to garner support from wealthy nations like Germany. The recent influx of refugees and asylum seekers to Europe is also putting pressure on Cameron as may of the British people don't want to take them in as it would put further pressure on taxpayers.
Referendum Contagion
While most don't expect the UK to leave the EU, the renegotiation of its membership could reignite a wave of anti-euro sentiment across the bloc. With many eurozone nations suffering from high unemployment and slow growth, there could be a push for other lawmakers to follow in Cameron's footsteps and try to work out a better deal for their country.
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Posted In: NewsEurozonePoliticsGlobalMarketsGeneralPrime Minister David Cameron
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...