Cameron in Brussels, Facing Decision Time on EU Deal

British Prime Minister David Cameron was in Brussels on Friday seeking a deal on immigration controls and launching three days of talks that could deliver a draft EU reform package that might keep Britain in the European Union.

Over lunch with European Commission President Jean-Claude Juncker, Cameron will discuss in detail how an EU proposal to meet his demands for curbs on other Europeans working in Britain might work, sources close to the negotiations told Reuters.

If the prime minister and the Union’s chief executive can come to terms on a new “emergency brake” — letting any state cut benefits to workers arriving from the EU if other leaders agree its welfare system is at risk — then the draft package could be circulated to all EU governments on Monday, giving time for wider negotiations until a summit three weeks from now.

Cameron could give a green light to that process, raising the prospect of an accord in mid-February and a referendum on British EU membership as early as June, over a Downing Street dinner on Sunday with European Council President Donald Tusk.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.