Britain’s Prime Minister David Cameron has spelled out his demands for remaining in the European Union, which he hopes to renegotiate with the union before the in/out referendum he promised the nation during the last general election.

The referendum, likely to be next year, will ultimately determine whether the UK continues to be part of the EU, regardless of the outcome of the negotiation attempts.

Cameron called for the referendum because he is unsatisfied with the bloc as it is, but conversely is also campaigning to remain in the EU. The reasons to stay for Cameron are obvious , the EU is the UK’s main trading partner and the single market offers many economic benefits.

Although Cameron, as leader of the Conservative Party, represents the majority of the nation’s capital owners first and foremost, the promise of a referendum was a necessary move as they were losing votes to the party further to the right, the populist United Kingdom Independence Party.

… Aedan Mordecai is a research analyst at the Nanyang Technological University’s S. Rajaratnam School of International Studies in Singapore.