After months of waiting, Britain's Prime Minister David Cameron finally gave his speech on Wednesday regarding Britain's future in the EU.

Cameron says he will give Britons a straight referendum choice on whether to stay in the European Union or not, provided he wins the 2015 election. The move comes amid warnings on both sides of the Atlantic where European and U.S. lawmakers say Britain's possible referendum could imperil its economic and diplomatic prospects.

After months of waiting, Britain's Prime Minister David Cameron finally gave his speech on Wednesday regarding Britain's future in the EU.

An European country separated from continental Europe, it's not a new dispute whether the country should stay in the Europe Union or just leave. This time, Cameron decided to leave that choice to the British people.

David Cameron, British Prime Minister, said, "It will be a relationship with the single market at its heart - we will complete this negotiation to hold this referendum within the first half of the next parliament. It is time for the British people to have their say. It is time for us to settle this question about Britain and Europe."

But in the same speech, Cameron also said he would prefer Britain to remain inside the Union with other European countries.

David Cameron, British PM, said, "I never want Britain (leave the EU something...)."

But it is conditional. He made clear that the EU must reform and improve in some aspects. Or there will be threats to member countries.

"Three major challenges..." Cameron said.

The euro zone debt crisis is a main reason why Britain wants to reassess its EU membership. Although the referendum is not likely to happen unless Cameron is re-elected, analysts say Cameron's announcement may unsettle other EU states...and is already raising concerns in the United States.