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| 'Bear with us' urges Nick Clegg | 'Bear with us' urges Nick Clegg |
| (9 minutes later) | |
| Nick Clegg has asked people to "bear with us" as the Lib Dems and the Tories enter a third day of negotiations. | Nick Clegg has asked people to "bear with us" as the Lib Dems and the Tories enter a third day of negotiations. |
| The Lib Dem leader said the parties were "working flat out" to agree on a new government after the UK general election resulted in a hung parliament. | The Lib Dem leader said the parties were "working flat out" to agree on a new government after the UK general election resulted in a hung parliament. |
| Senior Tory William Hague said they were discussing "specific ideas and proposals" and were "optimistic". | Senior Tory William Hague said they were discussing "specific ideas and proposals" and were "optimistic". |
| Labour Chancellor Alistair Darling said the Tories and Lib Dems should make a decision on doing a deal "today". | |
| Mr Clegg and Conservative leader David Cameron had a 30-minute telephone conversation on Monday morning, following face-to-face talks on Sunday. | Mr Clegg and Conservative leader David Cameron had a 30-minute telephone conversation on Monday morning, following face-to-face talks on Sunday. |
| Short of majority | Short of majority |
| The Tories won the most votes and MPs in Thursday's election, but are short of a majority and are seeking support from the Lib Dems to form a government. If talks between them fail, Labour has offered the Lib Dems talks and Mr Clegg also met Gordon Brown on Sunday. | The Tories won the most votes and MPs in Thursday's election, but are short of a majority and are seeking support from the Lib Dems to form a government. If talks between them fail, Labour has offered the Lib Dems talks and Mr Clegg also met Gordon Brown on Sunday. |
| As the Lib Dem and Tory teams continue negotiations - following more than six hours of talks on Sunday - senior Labour figures Lord Mandelson, Ed Balls and Alastair Campbell joined Gordon Brown at Downing Street. | As the Lib Dem and Tory teams continue negotiations - following more than six hours of talks on Sunday - senior Labour figures Lord Mandelson, Ed Balls and Alastair Campbell joined Gordon Brown at Downing Street. |
| TIMETABLE Sunday, 1100 BST: Lib Dem and Tory negotiating teams met for six hours. Meanwhile Nick Clegg met Gordon Brown at the Foreign Office. Later in the evening David Cameron and Mr Clegg met for 45 minutes in ParliamentMonday, 0800 BST: Markets openMonday morning: 30 min phonecall between Clegg and Cameron1000 BST: Tory and Lib Dem teams reconvene1300 BST: Lib Dem MPs to meetMonday, 1800 BST: Conservative MPs meet Strategists try to avoid leaks Send us your comments | TIMETABLE Sunday, 1100 BST: Lib Dem and Tory negotiating teams met for six hours. Meanwhile Nick Clegg met Gordon Brown at the Foreign Office. Later in the evening David Cameron and Mr Clegg met for 45 minutes in ParliamentMonday, 0800 BST: Markets openMonday morning: 30 min phonecall between Clegg and Cameron1000 BST: Tory and Lib Dem teams reconvene1300 BST: Lib Dem MPs to meetMonday, 1800 BST: Conservative MPs meet Strategists try to avoid leaks Send us your comments |
| BBC political correspondent Iain Watson said senior Lib Dem sources had indicated they would negotiate seriously with Labour if Mr Brown was prepared to indicate on Monday that he would step down as PM. | BBC political correspondent Iain Watson said senior Lib Dem sources had indicated they would negotiate seriously with Labour if Mr Brown was prepared to indicate on Monday that he would step down as PM. |
| Entering talks on Monday morning, Mr Clegg told reporters he understood people were anxious to know what was happening but said all parties and party leaders were "working flat out around the clock to try and act on the decision of the British people last Thursday in the election result". | Entering talks on Monday morning, Mr Clegg told reporters he understood people were anxious to know what was happening but said all parties and party leaders were "working flat out around the clock to try and act on the decision of the British people last Thursday in the election result". |
| He said they would arrive at a decision "as quickly as possible" but said he hoped people would understand they wanted to get the decision right rather than come to an arrangement that "won't stand the test of time". | He said they would arrive at a decision "as quickly as possible" but said he hoped people would understand they wanted to get the decision right rather than come to an arrangement that "won't stand the test of time". |
| 'Specific proposals' | 'Specific proposals' |
| "Bear with us a little bit longer and we hope we will be able to provide you with full announcement as soon as possible," he said. | "Bear with us a little bit longer and we hope we will be able to provide you with full announcement as soon as possible," he said. |
| William Hague, one of the senior Conservatives involved in the negotiations, told reporters the talks were "going well" and they were talking about "some specific ideas and proposals". He said they were "optimistic" about making progress soon. | William Hague, one of the senior Conservatives involved in the negotiations, told reporters the talks were "going well" and they were talking about "some specific ideas and proposals". He said they were "optimistic" about making progress soon. |
| I hope by the end of today they will decide whether they can do a deal or not. Alistair Darling The options for a hung parliament Peston: Euro ministers and Osborne | I hope by the end of today they will decide whether they can do a deal or not. Alistair Darling The options for a hung parliament Peston: Euro ministers and Osborne |
| Both sides have stressed that the stability of the British economy is key to any deal. | Both sides have stressed that the stability of the British economy is key to any deal. |
| There will also be separate meetings of Lib Dem MPs and Conservative MPs on Monday and the BBC understands there will be a meeting of the Lib Dems' governing body, the federal executive later. It would have to approve any deal, under Lib Dem rules. | There will also be separate meetings of Lib Dem MPs and Conservative MPs on Monday and the BBC understands there will be a meeting of the Lib Dems' governing body, the federal executive later. It would have to approve any deal, under Lib Dem rules. |
| There had been some fears that the pound and shares would suffer if a deal was not done by the time markets opened on Monday. | There had been some fears that the pound and shares would suffer if a deal was not done by the time markets opened on Monday. |
| But once trading began, the FTSE 100 index of London's leading shares leapt more than 4% - suggesting traders saw the EU deal over a fund to stop the Greek debt crisis spreading as much more significant. | But once trading began, the FTSE 100 index of London's leading shares leapt more than 4% - suggesting traders saw the EU deal over a fund to stop the Greek debt crisis spreading as much more significant. |
| 'Full responsibility' | 'Full responsibility' |
| While the Tories and Lib Dems see if they can reach an agreement which would see him losing his job as chancellor, Mr Darling has continued to represent Britain in the EU talks. | While the Tories and Lib Dems see if they can reach an agreement which would see him losing his job as chancellor, Mr Darling has continued to represent Britain in the EU talks. |
| He told BBC Radio 4's Today programme: "I don't think it would do any good to let this process drag on. I understand that the Liberals and the Conservatives are engaged in talks today, I hope by the end of today they will decide whether they can do a deal or not." | He told BBC Radio 4's Today programme: "I don't think it would do any good to let this process drag on. I understand that the Liberals and the Conservatives are engaged in talks today, I hope by the end of today they will decide whether they can do a deal or not." |
| He added: "I'm not saying that tomorrow's the end of the world but I just make the general observation that there does come a point in any negotiations - either you can do a deal or you can't." | He added: "I'm not saying that tomorrow's the end of the world but I just make the general observation that there does come a point in any negotiations - either you can do a deal or you can't." |
| ELECTION SPECIAL David Dimbleby will present a BBC election special on BBC One at 2030 BST. It will also be streamed on the BBC News website. | ELECTION SPECIAL David Dimbleby will present a BBC election special on BBC One at 2030 BST. It will also be streamed on the BBC News website. |
| He confirmed he had spoken to his Conservative and Lib Dem counterparts - George Osborne and Vince Cable about the EU deal but insisted: "I made the deal and I accept full responsibility for it." | He confirmed he had spoken to his Conservative and Lib Dem counterparts - George Osborne and Vince Cable about the EU deal but insisted: "I made the deal and I accept full responsibility for it." |
| Labour has already pledged a referendum on switching from the first-past-the-post voting system to the alternative vote system, where voters rank their choices in order of preference and an MP has to get 50% of votes. | Labour has already pledged a referendum on switching from the first-past-the-post voting system to the alternative vote system, where voters rank their choices in order of preference and an MP has to get 50% of votes. |
| Changing the voting system is a long-time goal of the Lib Dems who favour a form of proportional representation. | Changing the voting system is a long-time goal of the Lib Dems who favour a form of proportional representation. |
| But former Conservative prime minister Sir John Major said everyone should realise "there is going to have to be some compromise on both sides - cherished ideas may not be possible" and warned against drawing up plans for electoral reform "on the back of an envelope". | But former Conservative prime minister Sir John Major said everyone should realise "there is going to have to be some compromise on both sides - cherished ideas may not be possible" and warned against drawing up plans for electoral reform "on the back of an envelope". |
| He said he had heard Labour was offering "the earth" to get a quick deal with the Lib Dems but he doubted Gordon Brown could deliver what the Lib Dems want - proportional representation. | He said he had heard Labour was offering "the earth" to get a quick deal with the Lib Dems but he doubted Gordon Brown could deliver what the Lib Dems want - proportional representation. |
| Many Labour MPs were "as deeply if not more deeply opposed to proportional representation than the most die-hard Conservative", he said. | Many Labour MPs were "as deeply if not more deeply opposed to proportional representation than the most die-hard Conservative", he said. |