Coalition chance: The man with lots of friends

It completed a remarkable rise to prominence for the Sheffield Hallam MP who only entered Parliament five years ago, and who assumed his party's leadership 18 months ago, as the election ended in deadlock.

These overtures – acts of political brinkmanship last witnessed in 1974 – started when the Prime Minister, after two hours of snatched sleep, began the horse trading by asking Cabinet Secretary Sir Gus O'Donnell to arrange for the Civil Service to assist those parties engaged in coalition discussions.

Simultaneously, Labour Ministers – including deputy leader Harriet Harman – toured the TV studios to claim that the Conservative leader had no legitimate claim to power, even though the Tories had achieved their best result for more than 70 years.

They were cut short when an invigorated Mr Clegg arrived at his party's headquarters.

He began with a joke as he kept the country in suspense. "Thank you for coming in such small numbers," he told the assembled photographers and journalists as they jostled with each other for position.

He admitted that his party's results had been "disappointing" – the Lib Dems actually lost ground nationally – before revealing how he would play the political opportunity of a lifetime.

As he had indicated previously, Mr Clegg signalled that the Conservatives, as the party with most seats, had the first right to seek to form an administration and prove that they are "capable of seeking to govern in the national interest".

It was, potentially, the decisive moment of this most indecisive of elections. In doing so, Mr Clegg was honouring the commitments he had made to the public – even though a coalition with Labour might better suit his party's aspirations for proportional representation.

Within minutes, the Tories said Mr Cameron would make a statement of his own. Even though he had campaigned for 36 hours, and then endured a sleepless night waiting for the results, he was proving to be a man of stamina, although some questioned whether this was the best time for sleep-deprived politicians to negotiate the country's future.

By midday, Lib Dem sources were indicating that talks with Labour were "going nowhere" while Mr Brown said his duty was "to take all steps to ensure Britain has a strong, stable and principled government".

What did he mean? Was he conceding defeat – or indicating that he would attempt to defy the political arithmetic?

Repeatedly, the 24-hour television networks claimed that Mr Clegg's party was in talks with his two opponents, but actual detail proved tantalisingly scarce.

One leader to break ranks was SNP leader Alex Salmond, a renowned opportunist, who revealed that his party and Welsh nationalists Plaid Cymru had accepted an offer from Mr Brown to discuss possibilities for government.

Even this was not without its complications – Mr Salmond actually stood down at the election, although he remains First Minister of Scotland.

The political waters became still murkier when the Prime Minister addressed the nation and signalled his willingness to see any of the party leaders if Mr Cameron and Mr Clegg did not reach an agreement on forming a government.

It was, effectively, a personal plea to the Lib Dem leader and a deliberate attempt to undermine Mr Cameron's coalition attempts – Mr Brown spoke about the importance of economic recovery and political reform while choosing not to mention his Conservative counterpart by name.

Yet Mr Brown's wooden appearance – he, yet again, resembled yesterday's man – contrasted sharply with Mr Cameron's optimistic overtures, and his "big, open and comprehensive offer" to the Liberal Democrats to work together in government, including key concessions on voting reform and tax cuts for the poorest.

It was an invitation that confirmed Nick Clegg's status as kingmaker – and, for the time being, as the most powerful man in Britain, with the very future of the country resting on his final decision.

The stakes could not be higher as the 2010 election enters the political equivalent of extra time.

How the day unfolded

7am

Gordon Brown returns to 10 Downing Street, ignoring questions from reporters over his future.

9.05am

A hung Parliament is confirmed.

10.40am

Nick Clegg says it is up to the Tories to prove they are "capable of

seeking to govern in the national interest".

11.15am

The Tories announce that David Cameron will make a statement setting out how he will seek to form a government.

12.05pm

The SNP and Plaid Cymru agree to enter coalition talks with Labour.

1.47pm

Mr Brown invites the Lib Dems to work with Labour on political reform and economic recovery.

2.33pm

The Tory leader makes a "big, open and comprehensive offer" to Mr Clegg to provide leadership for the country.

4.40pm

Shadow Foreign Secretary William Hague said that Mr Cameron and Mr

Clegg had spoken "within the last half hour".