This weekend could produce the deal the whole of Britain is waiting for as negotiations continue after the most dramatic General Election in a generation.

David Cameron and Nick Clegg have already spoken on the phone in a bid to broker a deal for a “collaborative government” and those discussions are expected to intensify throughout the day, possibly with a face-to-face meeting.

Senior figures from both parties, including Paddy Ashdown and George Osborne, will also continue those talks.

The Conservative leader is believed to want a coalition government rather than attempt to take up residence at Downing Street without an overall majority, and he wants to finalise the deal before the markets open on Monday, giving an unofficial 48-hour deadline.

Manifestos

In Britain’s first hung Parliament for 36 years, defeated Prime Minister Gorgon Brown remains temporarily the nation’s official leader and resident at Number 10.

There are now three options.

Mr Cameron and Mr Clegg will attempt to thrash out the final details of a Conservative-Liberal Democrat coalition with the main aim of today and possibly tomorrow to find out which parts of their manifestos they can work on together.

If that fails the weekend could see the leader of the Conservatives fall back on the option of forming a minority government. That will involve high level talks with all the senior members of the party.

The third option is a Labour-Liberal Democrat coalition and this weekend will see Mr Brown continue talks with his senior advisers in a bid to be ready to talk to Mr Clegg should negotiations with the Tories fail.

While all three no doubt would like some conclusion sooner rather than later, Mr Brown has told the other parties to take as long as they need, with some sources even going as far as to speculate the PM could offer his resignation as early as today.