BRUSSELS: Euro zone leaders told near-bankrupt Greece at an emergency summit on Sunday that it must enact key reforms this week to restore trust before they will open talks on any new financial rescue to keep it in the European currency area.

Leftist Prime Minister Alexis Tsipras will be required to push legislation through parliament to convince his 18 partners in the euro zone to release immediate funds to avert a state bankruptcy and start negotiations on a third bailout program.

Six sweeping measures including tax and pension reforms will have to be enacted by Wednesday night and the entire package endorsed by parliament before talks can start, a draft decision sent by Eurogroup finance ministers to the leaders showed.

The document also included a German proposal to make Greece take a “time-out” from the euro zone if it failed to meet the conditions for a loan.

But not all ministers endorsed the idea, which was reserved in brackets in the text seen by Reuters.

A senior EU source said such a temporary exit from the euro was illegal and would not survive in the summit statement.

Tsipras said on arrival in Brussels he wanted “another honest compromise” to keep Europe united.

But German Chancellor Angela Merkel, whose country is the biggest contributor to euro zone bailouts, said the conditions were not yet right to start negotiations, sounding cautious in deference to mounting opposition at home to more aid for Greece.

“The most important currency has been lost and that is trust,” she said.

“That means that we will have tough discussions and there will be no agreement at any price.”

If Greece meets the conditions, the German parliament would meet on Thursday to mandate Merkel and Finance Minister Wolfgang Schaeuble to open the talks on a new loan. Then Eurogroup finance ministers would meet again on Friday or at the weekend to formally launch the negotiations.

A Greek government official, in a first reaction to the draft, said: “How can they demand all these measures at the last minute without securing a lifeline to see us through till next week?“

A European official said a Eurogroup meeting on Monday could discuss ways to provide emergency finance to keep Athens afloat. A finance ministers’ meeting was suspended at midnight after angry exchanges during nine hours of acrimonious debate without a firm recommendation on Greece’s application for a three-year loan on the basis of reform proposals submitted by Tsipras.

Eurogroup chairman Jeroen Dijsselbloem said that while ministers had made good progress, a couple of big issues were left for the leaders to resolve.

“The Eurogroup ... came to the conclusion that there is not yet the basis to start the negotiations on a new program,” the document sent to national leaders said.

“Only subsequent to legal implementation of the above mentioned measures can negotiations on the memorandum of understanding commence, subject to national procedures having been completed,” it said, in a reference to authorization by national parliaments in countries such as Germany.

The draft said Greece needed 7 billion euros by July 20, when it must make a crucial bond redemption to the European Central Bank, and a total of 12 billion euros by mid-August when another ECB payment falls due.

It did not say how those needs would be met, and EU officials said finance ministers had been unable to agree on emergency finance.

Several hard-line countries voiced support for the German proposal that Greece take a five-year “time-out” from the euro unless it accepted and implemented swiftly much tougher conditions, notably by locking state assets to be privatised in an independent trust to pay down debt.

But French President Francois Hollande, Greece’s strongest ally in the euro zone, dismissed the notion, saying it would start a dangerous unraveling of EU integration.

“There is no such thing as temporary Grexit, there is only a Grexit or no Grexit. There is Greece in the euro zone or Greece not in the euro zone. But in that case it’s Europe that retreats and no longer progresses and I don’t want that,” he said.