BRUSSELS, July 12 (Reuters) - Euro zone ministers gave Greece until Wednesday to pass new laws as a condition for negotiations on a bailout Athens needs to avoid losing access to the common currency, Finnish Finance Minister Alexander Stubb said on Sunday.
Describing a joint proposal the Eurogroup of finance ministers have put to a summit of euro zone leaders which began on Sunday, Stubb told reporters: "It has far-reaching conditionality, on three counts: Number one, it needs to implement laws by July 15. Number two, tough conditions on for instance labour reforms and pensions and VAT and taxes.
"And then number three quite tough measures also on for instance privatisation and privatisation funds.
"And for us the most important thing is that... this whole package has to be approved by both the Greek government and the Greek parliament and then we'll have a look." (Reporting by Alastair Macdonald; editing by Philip Blenkinsop)