French Prime Minister Against Paying 'Any Price' to Avoid Brexit

Although the United Kingdom’s exit from the European Union, or the so-called Brexit, would be a terrible event, Brussels should not strive to satisfy London's demands at any price, French Prime Minister Manuel Valls said Thursday.

MOSCOW (Sputnik) – The United Kingdom is currently rethinking its relationship with the 28-nation bloc ahead of a referendum on the country's membership in the EU, due by the end of 2017.

The negotiating process with Brussels is expected to be followed by an in/out referendum that Cameron promised during his spring 2015 pre-election campaign.

"[Brexit] would undoubtedly be a bad thing, a very bad thing. There needs to be an agreement [between London and Brussels to avoid Brexit], but not at any price," Valls told reporters at the World Economic Forum in the Swiss town of Davos, as cited by the Ouest France daily.

The remark was made hours before British Prime Minister David Cameron was expected to outline his stance on the UK's role in the world in a speech at Davos.