David Cameron has received some encouragement from other European leaders after calling for a more "competitive" and "flexible" EU.
The Prime Minister spelled out his vision for a new Europe to world business leaders today, a day after pledging to hold a referendum in Britain in five years' time.
ITV News Political Editor Tom Bradby reports on the mood at Davos:
To the surprise of many Lib Dems, Nick Clegg appears to have played down the importance of the Coalition's divide on an in-out referendum.
Business leaders in Davos are worried about the Prime Minister's pledge to put Britain's membership of the European Union to a referendum.
With some in France keen to "roll out the red carpet" for a British exit, Germans favouring decentralisation welcome EU renegotiation talks.