Diplomats in Brussels were discussing changes to proposals that EU chief Donald Tusk laid out last week in a bid to answer British Prime Minister David Cameron's reform demands.
Cameron wants a deal at the February 18-19 summit before holding a referendum, probably in June.
The new draft text obtained by AFP shows some elements watered down to address the concerns of France and other eurozone countries about protections for states like Britain that do not use the single currency.
Some EU states like Germany or other richer northern European states could try to take similar benefit measures, which would likely see many veto the British deal, EU sources said.
A key question -- how long Britain will be able to keep the brake system in operation -- remains blank in the draft.
Several countries are also concerned about plans to change the EU's treaties to reflect the British demands, with some saying it should be enough that a summit agreement is made legally binding, the sources said.
Former Polish premier Tusk said on Tuesday that he still hoped for a deal next week but warned that the process was "very fragile", adding that he had cleared his diary until the summit to hold more talks.
He meets Belgian Prime Minister Charles Michel in Brussels on Friday and will travel to Berlin and Paris for talks with German Chancellor Angela Merkel and French President Francois Hollande on Monday or Tuesday.
