"Committing now to a in-out referendum has big costs for Britain, " he added.
Mocking David Cameron's pledge of an in-out EU referendum after the next general election, he said one should be held immediately.
But he said committing now to the prospect of an in-out referendum in the future would have "big costs" for the country.
He thought a referendum would be a choice between the status quo and modest reform of Britain's membership - an "in-in" rather than "in-out" choice.
Tory Eurosceptics are pressing for an in-out referendum on EU membership.
That's why the Conservative MP for Lichfield and former government whip Michael Fabricant is suggesting an electoral pact with UKIP with the promise of an 'in-out' EU referendum.
The second referendum would allow them to have a say on the UK's continued membership of the EU - Mr Bone described it as a "binding in-out referendum".
And, in an editorial, the Financial Times said a future government should hold an "in-out" referendum once the UK had "codified" its new relationship with the eurozone.
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However, many Conservatives have been pressuring the government to commit to a referendum on the question of whether the UK remains in the EU - a so-called "in-out vote".
Many Conservative MPs want the prime minister to go further and promise to hold a so-called "in-out" vote to determine whether the UK remains in the EU at all.
He promised an in-out referendum on an uncertain renegotiation of the UK's relationship with the EU that leaves more questions than answers and creates a climate of uncertainty for investors.
The Conservative Party was a "broad church" which, on Europe, had managed to have "a disagreement... about an issue we actually agree about" - the need for reform and an in-out EU referendum.
But shadow foreign secretary Douglas Alexander said he believed a commitment to stage an in-out referendum at some unspecified point in the future was "bad for the UK's influence within Europe".
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The firms offering this technology can't be "fool-proofing" the concept to protect the novice FX investor from dangerous practices, such as quick in-out trades, poor risk management and too much leverage, Paz says.
WSJ: Currency Traders Follow the Leader | WSJ.Money Summer 2013
Speaking after emergency talks with European leaders in Brussels on the eurozone crisis, Prime Minister David Cameron reiterated his view that it was not the "right time" to legislate for an in-out referendum.
However, many Conservative MPs want him to go further and to commit to a referendum on the question of whether the UK remains in the EU or not - a so-called "in-out vote".
The Conservative Party says it will publish a draft parliamentary bill on Tuesday to legislate for an in-out referendum on Britain's membership of the European Union to be held by the end of 2017.
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In parallel they also think that they can fend off calls from other Eurosceptics for a straight in-out referendum, calling such a vote the wrong question at a time of rapid change to Europe's structures.
He said the prime minister had voted against an in-out referendum in a parliamentary vote in 2011 but had been "dragged" towards a scenario in which such a scenario could happen by a "neuralgic" Conservative Party.
One thing that may not be happening is agreement on the scheduling of a backbench debate on an "in-out" referendum on the EU. But this will not be because of any dark machinations by the whips.
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The prime minister has repeatedly said he does not favour a so-called "in-out" referendum on the UK's membership of the EU, in which people would be asked whether they wanted to stay in the organisation or to leave.
More than 80 Conservative MPs defied the government in 2011 and called for an in-out referendum, arguing that the public had not been consulted on the issue since approving the UK's entry into the then Common Market in 1975.
Amid growing calls for an "in-out" referendum about the UK's membership of the EU - and the prospect of a Commons debate on the issue later this year - Mr Cameron said he believed this was the wrong course of action.
Labour leader Ed Miliband said the Conservatives were divided over Europe and the prime minister was "being dragged to the exit door" by backbenchers and certain cabinet ministers who were "undermining his authority" by urging an "in-out referendum" on the UK's future in Europe.
And while it says here that San Antonio-based Whataburger is unquestionably the greatest fast food chain in the world, California-based In-N-Out Burger devotees the world over would at least in this instance wrongly make the case for the latter.
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But many of them also recognize that it's not only the high-profile mass shootings that are of concern here, it's also what happens on a day-in-day-out basis in places like Chicago or Philadelphia, where young people are victims of gun violence every single day.
Investors picked up in- and out-of-the-money calls in the Sept.
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In- and out-of-the-money call selling in the front month may be the work of traders taking profits off the table.
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