Quoting and reporting are not simply formal variants; they differ in meaning. The difference between them derives from the general semantic distinction between parataxis and hypotaxis, as it applies in the particular context of projecting [...] Reporting [...] presents the projected element as dependent. It still makes a choice of mood; but in a form which precludes it from functioning as a move in an exchange. And the speaker makes no claim to be abiding by the wording.
- Halliday (1985), Pag. 233