(VOVworld) – British Prime Minister David Cameron officially announced the future relation between the UK and EU in his speech in London on Wednesday. Accordingly, the UK will hold a referendum on whether the UK will continue to be an EU member or not if his Conservative Party wins the coming general election. The move shows an unfavorable relation between the UK and EU.

UK Prime Minister David Cameron

In his speech delivered yesterday in London, Prime Minister David Cameron said he would re-negotiate the precondition for his country to continue staying in the EU as the British’s population is very disappointed by the EU. After the negotiation, the British will have a say in whether the country will withdraw or not from the Union. Cameron pledged that if his party wins the election in 2015, a referendum will be held in late 2017.

The EU public debt crisis is considered the major cause for the UK to reconsider its relation with the Union. Prime Minister Cameron’s speech showed the impatience of British toward the EU. Previously, disagreements existed between London and the EU on various issues, especially the budget. Cameron stated that determining a position at this time is unsuitable for both the UK and EU inspire of pressure from his own party to resolve the EU issue. Increasing challenges from the UK Independent Party, which maintains an anti-EU stance, claims that the EU membership has limited London from self-determining its economy and diplomacy.

If the UK retreats from the EU, it would save 8 billion euro annually in contributions to the Union’s fund and would be able to reduce the prices of its agricultural products by not participating in the common agricultural policy. The UK will not have to be concerned with the financial transaction fees and would gradually be unburdened by the EU financial policies. But the country would face many difficulties. Its trade relation with the EU market, which accounts for half of its export revenue, will worsen. London would be required to renegotiate scores of bilateral trade agreements at an inferior position if it was no longer a member of the EU. The UK’s status would also become weaken in the international arena.

Cameron’s speech faced strong public responses. President of the opposition Labor Party Ed Milliband said Cameron’s decision is not based on the interest of the national economy. Before that, Vice President Nick Clegg condemned Cameron of challenging the national economy as it creates an unidentified status of the UK in the EU. Clegg said discussions on the EU membership will have harmful influences on employment, economic growth, and foreign investment. Ford and BMW groups, which generate jobs for 20,000 people in the UK, have warned the Prime Minister of the potential to paralyze the UK’s economy if it cuts relation with the EU. A public survey conducted by YouGov on January 17 and 18 showed that only 34% of the polled people support the UK to leave the EU compared with 50% last November.

Prime Minister Cameron’s speech has raised concerns with its allies. The decision to leave the Union would harm London’s relations with Washington and their external policies. The President of the EU Affairs Committee of German’s parliament said it would be a disaster for the Union’s economy. EC President Herman Van Rompuy has warned that it would push the 27-member Union to collapse. French Foreign Minister Laurent Fabius said the UK’s referendum is a dangerous initiative.

Joining the EU late and staying out of the Eurozone of 17 countries, the UK is considering a referendum on the EU membership, expressing a contentious relation between the two sides, the future of which is unclear.  

Hong Van