Britain wants guarantee it won't be penalised for remaining outside of EMU

Chancellor Osborne spells out first changes to EU that British government wants to achieve

Britain’s Chancellor of the Exchequer George Osborne in a speech in London demanded a guarantee from the EU that the UK will not be penalised for remaining outside the eurozone, EurActiv reported. “We're prepared to support the eurozone as it undertakes the further integration it needs,” Osborne said according to EurActiv. “But in return, we want a settlement between the UK and the eurozone that protects the single market and is stable, fair and lasts.” The country’s membership of the EU will be put to a referendum before the end of 2017 once Prime Minister David Cameron has renegotiated the UK’s ties to the bloc. The cep believes that it is unlikely that Cameron will be able to push through major changes in the talks with his EU peers.