Cameron is carrying out a whistlestop tour of European capitals to push for reforms he says are necessary before the EU referendum, including on immigration.
"We will listen to him and see what he proposes," said Fabius.
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Fabius said that France was in favour of a simplification of the functioning of the 28-nation bloc.
"But even though we say yes to an improvement of the Union, we cannot agree with its breakup."
After winning this month's election with a narrow surprise majority, Cameron's centre-right government will Thursday publish its first bill which will pave the way for a referendum by 2017 on whether Britain should leave the European Union.
Cameron said yesterday he hoped the measure would pass in "extra quick time" and has not ruled out holding the referendum vote next year.
"I find this process quite dangerous," said Fabius.
"The British population has gotten used to being told: 'Europe is a bad thing', and the day they are asked to decide, the risk is that they say Europe is a bad thing."
He said that one couldn't "join a football club and decide in the middle of the match we are now going to play rugby."
Fabius said Britain would "certainly" have the most to lose if it left the EU, but that the bloc would also suffer.
Britain "is a military power, a diplomatic power. If such an important country leaves Europe it will give an extremely negative impression of Europe."
Cameron will also visit Berlin and Warsaw on his trip.
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