I have a fairly high approval of this coalition if I'm honest. It was handed a toxic legacy to deal with, and I don't think its handled it particularly badly.
That said, the Lib Dems should bring down the coalition. Even if it hurts them in the short term, and a snap election gives the Tories a majority, they should do it. It is CLEAR that the Lib Dems are acting as a political punch-bag. Bow out now and let the Tories take the plaudits / criticism for their subsequent handiwork... I don't see what good, aside from what is already in the coalition agreement, the Liberal Democrats can achieve by staying in league with the tories. Their support has spoken... both the people who voted for them in 2010, and their core vote. Nobody likes it. Leave now and look into a center-left opposition coalition with Labour.
Apologies to Phisheep or anyone I inadvertantly offended with my earlier angry comments, but I do genuinely believe the electorate has voted to cut its own nose off to spite its face here.
There are a multitude of reasons that the Yes vote has lost, and I'm not concerned with debating them now, it's done. I do think that people giving the Lib Dems a kicking are a bit daft, and I do think that AV would have been a much superior system. Governments will now continue to be elected by the largest minority, leaving a majority of voters unhappy with most election results.. parties will continue to pander to their core vote, concentrate on 'winnable' issues, in 'winnable' marginals, and fail to appeal to a broader base, they will continue to play safe politics. When a Lib Dem, Green, UKIP, EDL or even a BNP policy chimes with the public but those parties are percieved as wasted votes, Labour and Tory candidates won't have to worry about being second or third preference, they will know they can count on winning votes through "wasted vote" fear alone. 1/3 of voters support someone other than Labour and Conservatives, and because of this, the makeup of parliament still won't reflect that. With up to 2/3 of voters feeling detached and disappointed about results in every general election, political disillusionment and voter apathy will continue to be a problem... it will probably grow all the more.
I still believe "No" is an absolutely disastrous choice for British democracy. We don't have a democracy... its an unrepresentative farce.