May 10, 2010 5:27 PM

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Conservatives, Liberal Democrats try to hammer out power-sharing deal

In the United Kingdome, the Conservatives and the Liberal Democrats are trying to hammer out a power-sharing deal.<br/><br/>Apart from public anxiety over the delay, there is much concern over the impact the hung verdict and subsequent political uncertainty would have on the financial markets.<br/><br/>Liberal Democrats leader Nick Clegg asked people to bear a bit longer and said all political parties are working flat out to find a solution after the May 6 elections resulted in a hung parliament.<br/><br/>Chancellor Alistair Darling, who continues in office until a new government takes over, said he hoped a decision would be reached today. He said, the Liberals and the Conservatives are engaged in talks and hoped that today they will decide whether they can do a deal or not.<br/><br/>According to new guidelines, the formation of the new government should take place by 25 May, the day of the Queen’s Speech to the new House of Commons. The guidelines have been put in place before the election by cabinet secretary Gus O'Donnell, who anticipated a hung verdict. The time until May 25 is designed to allow the three main parties to try and reach agreement to see who can form a government.<br/><br/>The new guidelines are designed to try and ensure that the country is not forced to immediately go to the polls again almost in the event of no one party winning an overall Commons majority.

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