POLITICO’s Tara Palmeri has more on what eurozone leaders have just been arguing about behind closed doors: the issue of how Greece should scale up its privatization program.

The draft statement prepared by Eurogroup finance ministers asks leaders to choose between two options. The first of these — letting an independent body “assess the price of assets sold” — is being supported by the Greeks alone, according to an EU official. The other member states are all supporting the second option: transferring €50 billion of Greek assets to an independent fund, “to be privatized over time.”

According to the source, Greece claimed in Sunday’s Eurogroup meeting the €50 billion in government government assets “does not exist,” but the ministers “did not buy it or believe it, so they maintained the two options.”

THE FUND THAT COULD MANAGE GREEK ASSETS:
Germany has suggested one particular institution – KFW – could manage Greece’s assets and some of their reform efforts. But who’s behind this little-known “Institute for Growth”? It’s the government-owned bank, KFW.

KFW’ CEO Ulrich Schröder spent 20 years at WestLB (and six years at a spin-off) – a bank which received four government bailouts since 2008. Also on the board are none other than German Finance Minister Wolfgang Schäuble and Economy Minister Sigmar Gabriel.