REUTERS

The prime minister also said he did not think a UK exit was "the right answer" but promised "everything necessary to make it work" if there was a vote to leave, according to BBC.

He also said he would stay on as PM even if he ended up on the losing side.

Cameron reiterated his desire to campaign for the UK to remain in a reformed EU, but said he would rule nothing out if his demands were refused.

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The in-out referendum has been promised by the end of 2017.

British Prime Minister David Cameron has set out four key objectives he wants to achieve in renegotiating United Kingdom's membership of the European Union.

Economic governance

Securing an explicit recognition that the euro is not the only currency of the European Union, to ensure countries outside the eurozone are not disadvantaged. The UK wants safeguards that it will not have to contribute to eurozone bailouts.

Competitiveness

Setting a target for the reduction of the "burden" of excessive regulation and extending the single market.

Immigration

Restricting access to in-work and out-of-work benefits to EU migrants. Specifically, ministers want to stop those coming to the UK from claiming certain benefits until they have been residents for four years.

Sovereignty

Allowing Britain to opt out from further political integration. Giving greater powers to national parliaments to block EU legislation.