BEIJING, Aug. 8 -- Iran's Foreign Ministry says Iran will submit its reply to the latest nuclear proposal presented by the European Union on Monday.

    At weekly news briefing on Sunday, a Ministry Spokesman reiterated that the EU's comprehensive proposal is unacceptable as it fails to secure Iran's basic nuclear rights.

    He said the EU did not provide necessary guarantees of Iran's rights in political, security and economic fields or secure its right to a nuclear fuel cycle.

    Tehran says it will restart uranium conversion facilities in the central city of Isfahan on Monday as soon as supervision from the UN nuclear watchdog is in place.

    Also Sunday, German Chancellor Gerhard Schroeder said that he feels worried by Iran's rejection of the EU's proposal.

    He said if Iran does not accept the incentives, the EU will refer its nuclear case to the U.N. for possible sanctions.

    The proposal was delivered Friday by the ambassadors to Tehran from the European trio of Britain, France and Germany.

    The 34-page document recognizes Iran's right to develop its own nuclear cycle under the Non-Proliferation Treaty, but urges the country to halt uranium enrichment in order to reassure the world that its nuclear research will not be used for military purposes. Enditem