Australia hung parliament 'likely'

Australia was facing its first hung parliament in 70 years on Saturday after a night of vote-counting failed to deliver a majority to either prime minister Julia Gillard or her challenger Tony Abbott. The incumbent Prime Minister Julia Gillard, said on Saturday that she would continue to lead the government in a caretaker position until final results were known. With around 75 per cent of the vote tallied by the Australian electoral commission, neither side looked likely to win an election majority.It is pertinent to mention that at least 76 seats are required to win a majority.