It is pretty hard for me to follow what is going on.
The Guardian live blog has a writeup of wtf seems to be happening now. Basically, the Conservatives don't have enough seats to get away with being a minority government by themselves, which is good except that it means everyone is flailing around to work out who gets to be the government now.
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Anyway, we're about the only country in Europe that doesn't do PR. It's not ~stable~ enough apparenly. Poor Germany/Holland/Norway, with their backward electoral systems meaning that people have to work together rather than swinging from left to right-wing governments every four years.
/ranting
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