The U.K and Cameron are seeking serious reform of the way the EU is ran and it seems like they wanted a very weak central European Government. They want National parliaments to have greater ability to block EU legislation, also a protection of the financial markets in London, to keep the Pound and refute the Euro. Cameron said that he will oppose any European Army, and wants the EU to stay out of Britain's police force.
The result of this reform effort could have a potentially devastating reform to the EU. If it falls through, the EU loses Britain and will become much weaker considering Britain's economic power. However, if they succeed in reaching a deal, there will be massive ramifications. The EU will become a weaker body and it will seem like any country can now threaten to leave unless they get conditions to further weaken the EU. Either way this decision would have a substantial impact on Europe.
Dean Hamrick
http://www.bbc.com/news/uk-politics-32695399
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