Morsi is treading a delicate line. He went to Tahrir Square and stated to the hundreds of thousands of people there that there as no power higher than the people, but has conceded to swearing in formally to the Constitutional Court, accepting the dissolution of parliament. But the military has had to back down over powers to arrest civilians. They have, however, held on to military and foreign policy decision making (presumably with US backing, as they are armed by the US). If Egypt accepts IMF loans, there will not be much governing left for Morsi and the MB Parliament to do. The situation is a constant flux of power back and fore between the people, the military and the political parties, particularly the MB.