Of credible threats and plans

This is all being played out against the threat of ELA being cut from Monday. ...It's worth noting that quite a few of the people we talked to this morning didn't see it that way and expected an eventual fudge. But others we respect, such as Lorcan Roche Kelly at Trend Macro, see this as a very hard line -- why else would the ECB have mentioned Monday, 25 March 2013 in their release.

Wednesday, March 20, 2013
Financial Times