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UK To Hold Referendum on EU Exit| International News by Staff Reporter
U.K. Prime Minister David Cameron has announced that he plans to hold an in-or-out referendum on Britain's membership of the European Union.
He has said in a speech that he believes that voters are disenchanted with the current EU settlement. The referendum could be instituted any time during the next five years with some Conservatives pushing for it to be held now.
The outcome of the referendum could have important implications for the next general election to be held in 2015.
Analysts say Mr Cameron may use the referendum results to negotiate a better deal for Britain, or even contemplate withdrawal from the union.
Some say he has taken note of the increase in popularity of the U.K. Independence Party (UKIP), represented by Mr Nigel Farage, which has been scathing in it's attack on the policies of the EU.
Little comment has been forthcoming from EU officials.
Mr Cameron is currently at the Economic Summit in Davos, Switzerland, where he is expected to make further pronouncements on the matter.