May 10, 2010 2:02 PM

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Hectic political parleys on in Britain to form coalition govt

The Conservative and Liberal Democrats edged closer to a deal on coalition formation that would see David Cameron enter Downing Street. Meanwhile, Premier Gordon Brown had launched a last minute bid to woo kingmaker Nick Clegg to throw a spanner into the works. Cameron appeared confident of winning Liberal Democrat leader Clegg's support after continued negotiations last night for a belt-tightening economic plan to shore up international confidence in Britain. But though the Liberal Democrats leader had promised to talk to the Conservatives first about a power-sharing agreement, details emerged of a clandestine meeting between him and Brown in the Foreign Office. Quoting Labour sources, the Daily Mail claimed that Brown was mounting a desperate eleventh hour bid to throw a spanner into the works and sabotage the Conservative-Liberal Democrat talks. The tabloid claimed that Brown and Clegg had an hour- long discussion and the Labour leader was said to be attempting to trump Cameron's offer by promising to give more on the issue of electoral reform, and to be ready to offer the Liberal Democrats up to six seats in the Cabinet. Later Cameron and Clegg met again for 30 minutes.The horse-trading continued as financial markets were braced for a meltdown as UK was left rudderless, prompting fears that both shares and the pound will take a battering.

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