It was a much anticipated speech from Britain's Prime Minister.<br/> <br />And to the surprise of some David Cameron delivered a controversial promise.<br/> <br />(SOUNDBITE) (English) BRITISH PRIME MINISTER DAVID CAMERON, SAYING:<br/> <br />"We will give the British people a referendum with a very simple in or out choice to stay in the European Union on these new terms; or come out altogether. It will be an in-out referendum."<br/> <br />It'll take place within five years, assuming his party wins the next election in 2015.<br/> <br />He said he made the decision because euro-scepticism is at "an all-time high"<br/> <br />But many - particularly business leaders - are dismayed at the prospect of an exit.<br/> <br />(SOUNDBITE) (English) LAWYER, GORDON HARRIS, SAYING:<br/> <br />"It is the most misconceived and frankly facile abdication of responsibility by a prime minister you could possibly imagine. The country has to be in Europe"<br/> <br />(SOUNDBITE) (English) VICE PRESIDENT OF SALES IN A LONDON BUSINESS, CLAIRE BUCHANAN, SAYING:<br/> <br />"I think what we have seen in the past of couple of years kind of proves the point that it was a good thing we aren't in the euro zone right now. We would be in real trouble if we hadn't had the opt out clauses that we have."<br/> <br />Sterling fell to its lowest in nearly five months against the dollar during the speech.<br/> <br />Robert Halver is a Frankfurt trader.<br/> <br />(SOUNDBITE) (German) ROBERT HALVER FROM BAADER BANK, SAYING:<br/> <br />"I've always been a great supporter of the English attitude which is orientated to the market economy. We wouldn't have many problems today if we had focused on that instead of bureaucracy, but I think the UK also needs the euro zone, we need each other."<br/> <br />Cameron isn't in favour of leaving the EU but he wants a "new settlement" which reclaims powers from Brussels.<br/> <br />He says that's the way to strengthen the Union.<br/> <br />But across the Channel - the French Foreign Minister wasn't convinced.<br/> <br />(SOUNDBITE) (French) FRENCH FOREIGN MINISTER LAURENT FABIUS SAYING:<br/> <br />"Of course we want the British to be able to bring all their positive characteristics to Europe but you can't do Europe a la carte - I'll give an example which our British friends will understand well - if you join a football club and are a member, you can't then say let's play rugby."<br/> <br />Cameron insists he's not retreating from the world but Europe is the UK's biggest trading partner,<br/> <br />And many believe alienating it could seriously damage the UK's economic prospects.
