UK PM David Cameron said that Britain would oppose all deepening of political ties within the European Union, speaking at the World Economic Forum in Davos Thursday.

This comes only a day after Cameron pledged to hold before 2017 a national referendum on whether Britain should remain in the EU.

"Countries in Europe have their histories, their traditions, their institutions, want their own sovereignty, their ability to make their own choices, and to try and shoehorn countries into a centralized political union would be a great mistake for Europe, and Britain wouldn't be part of it," said the UK PM in Davos Thursday.

At the same time, Cameron stressed that his country remains committed to the EU, seen as a Union devoted to facilitating business and a functioning common market.

In his Davos speech, the British PM stressed on the need of European leaders acting out boldly in the battle with the economic crisis.

He called on countries that are doing economically well - in particular Germany - to be more pro-active in securing the eurozone.

"I'm not pretending any of this is easy. These are radical, difficult steps for any country to take. Tough fiscal discipline is essential. But this is a problem of trade deficits, not just budget deficits," said Cameron.

The UK PM further used the Davos forum to renew his vehement opposition to EU plans to impose a financial transactions tax, which he said would hit the financial sector, leading to loss of jobs and revenue.

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