Mike Hosking: Will today's government deal even be workable?

So, once again this afternoon, at a time that is yet to be disclosed, Winston Peters will repeat political history by presumably standing at a lectern in Wellington to make some sort of preamble of a speech that involves thanking the other parties, thanking his own party, perhaps thanking us for our patience, briefly explaining how complex and difficult it has been, maybe offering some commentary as to where this country is at and what needs to happen to it.

And in a final flourish that will be replayed a million times, say 'that is why we are going with... (fill in the name)'.

Before all that happens, the Labour and National leaders need to sign off whatever it is they've agreed to.

The Greens presumably have to do the same having being briefed by Labour.

No-one knows which way Peters is going. Some suggestions are they've still to actually work that out themselves, which would indicate they've got two good deals in front of them.

The options are a coalition with Labour and the Greens, a coalition with National, or a confidence and supply deal with either.

It is possible, I suppose, although we assume unlikely, that between now and the announcement someone like the Greens go 'can't do it, too hard'.

It's possible, I suppose, although unlikely that New Zealand First can't decide or they're split and there is no deal.

But the real news for me, is not Peters, that will be the headline for the day of course. Who he chooses and what job he ends up with and how many Cabinet posts there are if it's a coalition, or why he didn't go with a coalition if he doesn't.

But once those headlines fade, as all headlines do, the important thing is the big picture: Does it stick, is it workable, does it feel like something that has prospects?

Because beyond the circus that we've witnessed, there is actually a country to run, and a very successful one at that.

We are taking, in today's decision, 18 years of solid economic performance.

A story to be proud of. And at least in part tossing it to the wind, today is not so much about today, but the 1100-odd days that follow.