We are going on an hour after the military’s 48 hour ultimatum expired. Yesterday, President Morsi gave his confrontational speeches which many interpreted as a call to arms to his Muslim Brotherhood followers to defend the legitimacy of his presidency. This is turn brought a new statement from the Army pledging a fight to the death against “terrorists, extremists and fools”, which in the context seemed clearly to mean Morsi and his followers.
But just a short time ago, Morsi called for or said he would be willing to accept a coalition government (presumably with him still as at least titular president) which would call for early elections. It seems likely that a week ago or even possibly even last night this might have been sufficient to settle the situation. But now, post-deadline and post last night’s speech, events may have run out ahead of him.