Britain: Could Britain become a floating Titanic as British PM gambles with risky Europe speech

British Prime Minister David Cameron gives a long-awaited speech in the Netherlands on Friday that could push his country towards the European exit door and put his own position at risk.

The speech in Amsterdam promises to be one of the most important by a British leader since World War II, following in the footsteps of previous premiers who have gone to the continent to deliver speeches on Europe.

Cameron is expected to set out plans to renegotiate Britain's membership with the EU and then allow British voters to vote on the new terms in a referendum after the general election in 2015.

The Conservative leader has said that he wants Britain to remain in the European Union, which is Britain's biggest export partner, while wresting back some powers from Brussels.

But it is a huge gamble, as a "no" vote in any referendum on new terms could precipitate a "Brexit" from the EU, with far reaching effects for the whole of the 27-nation bloc.

Cameron defended his plans on Monday, saying that a straight in-out referendum on membership would be a "false choice" and adding: "I'm confident we will get the changes that we want."

Yet the issue has become a huge headache for him as he tries to balance the demands of an increasingly eurosceptic Conservative party and the British public with those of his European partners.

The speech was repeatedly put back over the last six months, then suddenly brought forward from Jan 22 after it emerged it would clash with ceremonies marking 50 years of post-war reconciliation between France and Germany.

In a further sign of trouble Dutch Prime Minister Mark Rutte will not attend the speech being made on his country's soil, although he will meet Cameron for talks earlier on Friday.

The British seem to want to eat their cake and have it too. This is not how a partnership of Nations works.

EU-Digest