"That's not a "speech to party faithful" - that crowd doesn't trust him"

They are party faithful, looking for reassurance that he too is remaining party faithful, and not selling out to another party.

The question I asked was - is he giving that reassurance or is he just fobbing them off?

I don't see how he can sell them out. It would mean the end of his career in westminster.

He could never claim again to represent the liberals and no voter would ever trust him again.

In the process he would also condemn the liberals.

He has no choice but to press cameron for a referendum on electoral reforem, or to accept Browns offer.