Nick Clegg has made the biggest mistake of his life

By opening the negotiations to Labour before the Tory negotiations have been complete has shown immaturity. He has now set in motion a sequence of events which will have a major negative effect on the Lib Dems and lead to a large Tory majority.

Firstly, the Tories had to respond quickly. They have just done so, with an open offer of a referendum of AV, but this is time limited and the last offer. I think this is a masterstroke by George Osborne. The Lib Dems have a very quick decision to make.

If they try to form a coalition with Labour, they may not succeed. But the one thing that will happen is that they will be severely punished. Either by a split or an election catastrophe. A second unelected Prime Minister without the winner of the election campaign will sign their death knell for years. They will not win a referendum if they try - not now.

I think they will be severely punished anyway now. They have put their own interests above the country's. If the Con-LD offer is refused, the economy will tank. It may do so tomorrow anyway because the coalition will be very unstable.

Nick Clegg is playing with fire, I think he has made a huge tactical mistake. The country is now going to be punished, and we will punish him.

Squiffy.