Winston Peters' fate lies in the hands of the Prime Minister following tonight's Parliamentary privileges committee hearing.
Mr Peters again denied any prior knowledge of a $100,000 donation to NZ First or to himself from Monaco-based billionaire Owen Glenn.
And he maintained the allegations were a conspiracy against him.
"The answer then was no, and the answer is still no," Mr Peters said during a tense hearing lasting over an hour.
"At no time was I in any position to answer in any other way."
The New Zealand First leader directly contradicted evidence given to the privileges committee yesterday by Mr Glenn.
Deputy Prime Minister Michael Cullen is tonight fully briefing Helen Clark on Mr Peters evidence to the committee, with the Prime Minister expected to either sack or reinstate Mr Peters to his Government portfolios tomorrow.
Expatriate billionaire Glenn told the committee Mr Peters solicited a $100,000 donation in December 2005 to pay his lawyer's fees, and thanked him for it in January 2006.
Mr Peters has consistently denied knowing anything about the donation and said he only became aware of it in July this year when his lawyer, Brian Henry, told him about it.
When he appeared before the committee tonight, Mr Peters did not back down on any of his previous denials - including the press conference in February when he held up a 'NO' sign.
"This is an attempt to undo the people's will, bring down a government and govern alone," said Mr Peters.
Mr Peters agreed there had been a phone conversation between himself and Mr Glenn on December 14 2005, but he said he could not recall talking about money.
Mr Glenn told the committee the donation to pay Mr Henry's fees was discussed during that conversation.
In the phone call Mr Peters claims that Mr Glenn had wanted a "roving ambassadorship with emphasis on trade... similar to Mike Moore."
Mr Glenn had also wanted a diplomatic passport to facilitate travel through airports easier.
Mr Peters said he also wanted a consular role in Monaco.
Mr Peters said Mr Glenn also made mention he had a horse running in the Melbourne Cup and may have asked for lawyer Mr Henry's contact details.
Mr Peters said that was the only time he had talked to Mr Glenn. He said Mr Glenn had called him and not the other way around.
Under examination from National's Gerry Brownlee, Mr Peters said it was hard to believe that when Mr Glenn called on December 14 2005 asking for Mr Henry's details, he didn't ask why.
Mr Peters said "that's not what you do", as Mr Henry was "a professional man".
Mr Peters also contradicted a key piece of evidence from Mr Glenn, an email from Mr Henry giving details of his bank account and referring to a conversation with "my client".
It was taken that Mr Henry had meant Mr Peters, but Mr Peters told the committee that was not the case.
He did not say who Mr Henry had been referring to as "my client" in the email.
Mr Peters finished giving evidence just after 9pm.
Earlier Helen Clark described Mr Glenn's evidence into the NZ First donations scandal as "disturbing".
Labour Party president Mike Williams also denied he had sought a job from Glenn earlier this year.
Mr Glenn today claimed Mr Williams had asked him for a job when he visited him on his yacht in France in July this year.
"You're going to love this," Mr Glenn told a press conference in Auckland this morning, "he asked me for a job. He( Mr Williams)said he was a good administrator, he's run his own businesses, he said he was articulate," Mr Glenn said. "He's a trifle subservient."
Mr Williams said Mr Glenn was wrong but might have been recalling a conversation the pair had a couple of years ago.
"Owen was interested in setting up or buying a logistics company in New Zealand and discussed with me the possibility that I could play a role in managing it. I declined," Mr Williams said.
Mr Glenn has previously donated $500,000 to the Labour Party and $100,000 to New Zealand First.
He said he told Mr Williams in July that he had no job for him.
"He's a New Zealander, I don't have any jobs in New Zealand," Mr Glenn said.
"As of now I wouldn't employ him," he said.
Mr Glenn also described Prime Minister Helen Clark as "very self-serving".
He also said Mr Williams "wrestles with the truth".
Yesterday, Mr Williams denied Mr Glenn's evidence to the privileges committee that the pair had discussed a donation to New Zealand First.
But this morning Mr Glenn said he was "rather surprised to be attacked by Labour ministers".
"I'm not cheering for Labour any more, there's not much to cheer about if they abandon you and turn the dogs on you."
Mr Glenn said by February this year the Prime Minister was fully aware of his donation to Winston Peters.
When asked if Helen Clark knew what the money was used for Mr Glenn said "she already knew that, Mike Williams would have told her".
'Honourable way out'
Mr Glenn also had some advice for Winston Peters: "There's the honourable way out - short of falling on your sword".
He said New Zealanders would make up their own minds about who was telling the truth.
"I don't think the average New Zealander has trouble making a judgment about the truth. I didn't come all the way here to fantasise," Mr Glenn said.
He said the whole episode had taken up a lot of time and energy and there were more important issues when it comes to running to the country.
"I think political parties and aspirants need to be properly funded on a ration and they wouldn't have all this nonsense."
Decision to fight back
Mr Glenn said he decided to fight back after a New Zealand First MP called him a liar in Parliament.
He said prior to being attacked, he would have "slid away quietly"
This morning he told Radio New Zealand that Labour might not have been in government without his $500,000 donation to it; "and here they are attacking me, and frankly attacking my credibility and my integrity."
Mr Glenn said the Prime Minister had behaved out of self interest and wanted to keep Mr Peters on-side to get legislation through "and I was expendable".
Yesterday Mr Glenn fronted up to Parliament's privileges committee armed with phone records, emails and an affidavit from Matamata horse trainer Paul Moroney to back his claim that New Zealand First leader Winston Peters solicited a $100,000 donation from him.
Click here for a full timeline of the donations row
Mr Glenn also said in his evidence that he consulted Mike Williams before handing over the money as he wanted to ensure it was in Labour's best interests.
Mr Williams says while he did speak with Mr Glenn, "it was not clear to me that he had been asked to make a donation. I do not recall him talking about giving money."
Mr Williams is adamant the conversation was about the relationship between New Zealand First and Labour. He says while it is true that Mr Glenn consulted with him beforehand, what is not true is that Mr Glenn asked him whether he thought he should give New Zealand First money.
Last night, Mr Glen was asked on Campbell Live how he felt after having given $500,000 to the Labour Party and $100,000 to pay the fees of Mr Peters' lawyer.
He replied: "Disappointment, obviously. It's not having them stand up in support, or even encouraging me to seek their help to answer their spurious allegations, and leaving it to me to defend myself.
"They could have been a little more supportive and not left me to the lions."
Mr Glenn confirmed that Labour Party president Mike Williams came to see him in France in June this year and asked him for another donation.
Prime Minister Helen Clark last night described Mr Glenn's evidence as "pretty disturbing" but she wanted to hear what Mr Peters had to say to the privileges committee tonight in his right of reply.
Mr Peters has stood down as Foreign Minister while an investigation by the Serious Fraud Office into other party donations issues is conducted.
Helen Clark was asked if he could be fired before the privileges committee produced its report. She said: "I don't really want to speculate on any particular course of action at this point but just to say we're watching it extremely carefully."
Mr Peters denies knowing about Mr Glenn's donation until July 18. He will front up to the privileges committee tonight.
Earlier today, Owen Glenn told Radio New Zealand he was vetted for the position of honorary consul to Monaco and that Winston Peters supported his bid.
Mr Glenn said he had met New Zealand's ambassador to France Sarah Dennis in Paris at her invitation where she had told him she was vetting him for the position.
"I said OK what's your decision, she said `you seem to be alright"', Mr Glenn said.
In February Mr Peters rang him the day he was leaving for a trip to South Africa, Mr Glenn said. Mr Glenn was in Raglan at the time and says he has a witness to the call.
"He (Mr Peters) said; `I'm still supporting this, I want to push it through, I need a letter from you confirming that you are going to live in Monaco..."
The letter was subsequently leaked and reported.
"There's nothing wrong in the letter," Mr Glenn said.
Mr Glenn said he talked to Helen Clark on February 21, when they were at the opening of a new Auckland University business school building he had put money towards, about the honorary role bid.
"She said 'well look it might be best to let it lie and let's not at this stage stir the pot'."