CAIRO (REUTERS/AP) - The Egyptian presidency said on Wednesday that a coalition government should be part of a solution to the country's political standoff but appeared to offer no new compromises as a deadline set by the army for a power-sharing agreement elapsed.

A statement reiterated that President Mohamed Mursi held opposition parties responsible for obstructing a political initiative that would also set up a panel to prepare amendments to the constitution passed into law last December.

The embattled president again stated that he has no intention to step down, just before the expiry of a military ultimatum. He warned that his electoral legitimacy is the only safeguard against violence and instability.

He said it was a mistake to "take sides".

The army has said it will intervene to oversee its own political road map to end the crisis unless President Mursi meets the demands of millions of protesters calling for his ouster.