The newly elected Greek Prime Minister Alexis Tsipras, a member of the left-wing SYRIZA party, announced further measures to restore the country's stability on Sunday, in contradiction with the bailout plan outlined by EU partners.

He additionaly addressed the austerity measures, imposed by the Troika mission - European Central Bank, International Monetary Fund and European Commission. Tsipras pointed out that mass layoffs needs to be stopped, property tax cancelled, and the minimum wage should be restored to pre-crisis levels, Reuters reported.

Greek government has outlined an alternative proposal to the bailout plan. Instead of paying the EUR 7.2 B due of the upcoming debt repayment installment, they asked for the right to issue more short term debt to finance local economy. In addition, EUR 1.9 B profits from government bonds held in the European Central Bank and other funds were requested.

"The bailout failed," said Tsipras in his first speech to Greek parliament since he came in office. "We want to make clear in every direction what we are not negotiating. We are not negotiating our national sovereignty."

Meanwhile, the PM has announced a series of cost-cutting policies, including selling government cars and one of his allocated airplanes. Tsipras stated that tax evasion practices need to be stopped immediately.

He also pointed out that his government will not support unrealistic budget surpluses in order to secure debt repayments.

Further discussions with Thomas Wieser, president of the Euro Working Group, are expected to take place in Athens on Monday.