Despite running into complications with talks in Brussels, many expect that Cameron and other EU leaders will agree on a deal, if not on Friday, but over the weekend.
Cameron 'Begging for Concessions Like Oliver Twist'
In preparation for any announcement, Euorskeptics have been busy outlining their criticism of any potential arrangement.
Perhaps, Britain’s most well-known Euroskeptic, UKIP leader Nigel Farage, has been vocal in British media, describing the negotiations as nothing more than staged political theater.
"There will have to be a deal but, frankly, we really are scratching around at the edges here. There is no fundamental renegotiation on offer,” he said, arguing that Cameron was acting "rather like Oliver Twist".
"He [Cameron] has come along with his begging bowl, saying please sir, can we have more concessions? Most of what you are seeing here is theater. It’s theater from Mr Cameron and it’s theater from the other leaders."
Cabinet Revolt Expected
While the announcement of a deal will be important in finally unveiling what reforms Cameron has secured from his European partners, it will also trigger the official start of the Brexit campaign, with a number of Conservative ministers expected to defy the PM and push for a Brexit.
Cameron has placed a gag on cabinet members from speaking out against his reforms until an official deal is done. However once a deal is completed, Cameron will fly straight back to London where he will hold a meeting with ministers to set out his position to the UK-EU deal and nominate a date for the In-Out referendum.
This will finally allow Euroskeptic cabinet members to publicly pledge their support for a Brexit, with speculation that ministers Iain Duncan Smith, Chris Grayling, Priti Patel and Theresa Villiers will campaign to leave the bloc.
There is also speculation over the position of the Mayor of London Boris Johnson, who this week confirmed that he hadn’t decided whether he would throw his support behind the bid to keep Britain in the EU.
The highly popular Johnson is thought to be key to gathering support for either campaign, with the London mayor jostling to become a Conservative party leadership frontrunner should the public reject Cameron’s demands.
Grassroots Campaigns Ready to Go
In order to win over the public with any deal, Cameron will need to overcome the deep sense of Euroskepticism in some parts of British society, with many anti-EU campaign groups set to hold rallies and demonstrations on Friday, calling for an exit from the bloc.
— LEAVE.EU (@LeaveEUOfficial) February 18, 2016
The campaign group Grassroots Out (GO) are holding a rally in London on Friday night, with supporters calling for Britain to exit the EU regardless of what deal Mr Cameron brings home. Meanwhile a number of other smaller events protesting against EU membership are to be held across the UK over the weekend.