What does the cryptic crossword clue "A coalition party's current excuse for failure (5)" mean?

The definition is "for failure". The wordplay uses a charade (building blocks). A (abbreviation="A") + LIB (synonym="party's") + I (abbreviation="current") = ALIBI; definition: "excuse for failure" The answer is ALIBI.

A coalition party's current excuse for failure (5)

Guardian Cryptic #25923 | 10 Across | 2013-04-16 flower

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