The country's Supreme Judicial Council has hinted there may be a compromise with Morsi in the works. Meanwhile, the Egyptian stock market suffered heavy losses over the weekend.
Egyptian President Mohamed Morsi meets senior judges on Monday to try to ease a crisis over his seizure of new powers which has set off violent protests reminiscent of the revolution last year that led to the rise of his Islamist movement.
The justice minister said he believed Morsi would agree with the country's highest judicial authority on its proposal to limit the scope of the new powers.
But the protesters, some camped in Cairo's Tahrir Square, have said only retracting his decree will satisfy them, a sign of the deep rift between Islamists and their opponents that is destabilising Egypt two years after Hosni Mubarak was ousted.
"There is no use amending the decree," said Tarek Ahmed, 26, a protester who stayed the night in Tahrir, where tents covered the central traffic circle. "It must be scrapped."
One person has been killed and about 370 have been injured in clashes between police and protesters since Morsi issued the decree on Thursday shielding his decisions from judicial review, emboldened by international plaudits for brokering an end to eight days of violence between Israel and Hamas.
The stock market is down more than 7 percent.
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