In our 13th Caucus, it's negotiation time. So we look at Winston Peters' post-election posturing, 'constitutional conventions' and what New Zealand First needs from the next three years. Plus, we unpack the election results and what they mean for the parties.

By Tim Watkin

That Winston, he's such an old curmudgeon. A funny old uncle. A bit cheeky, but good for a laugh. That's how most New Zealanders view the New Zealand First leader, who former Prime Minister Jenny Shipley has described as "an 85 percent outstanding leader".

In past episodes of Caucus we've argued that he can put the curmudgeonly personna aside when needed because he takes his constitutional role seriously. Cometh the hour, cometh the statesman. Yet yesterday has given us pause to doubt.

Now, with the serious responsibility of government in his hands, he is throwing his toys.

Caucus this week makes the case - not for the first time - for taking Winston Peters seriously and holding him to account as we would other party leaders. We've always taken him seriously, knowing that in all likelihood we would get to where we are now, with New Zealand First holding the balance of power. Which makes yesterday's petulant press conference all the more concerning.

New Zealanders have a habit of indulging Peters and enjoying the quick-witted, "maverick" pleasure he brings to the often dour business of government, yet just when we should be seeing him at his responsible best, he holds a press conference in which he spends half an hour not even trying to give a straight answer and simply lambasting journalists he has a beef with (and several he doesn't).

At a time when we are negotiating nothing less than the shape of our next government, Peters demands to be taken seriously, while at the same time delivering nothing more or less than farce and falsehoods. At yesterday's press conference he again insisted that he's never used the word bottom-line. That's simply untrue, as you can see here.

You could also note that in July this year, Peters said "My strategy is to tell everybody out there that you won't be talking to NZ First unless you want a referendum on both those issues ". Yet yesterday he told an Australian news programme, "some of the things that, or elements to the environment on which a promise is made have since changed" and the Maori seats referendum could go by-the-by…

Go to this episode on rnz.co.nz for more details