As the time for Athens to decide runs out, EU may offer the country to temporarily exit Eurogroup. A new Eurogoup draft reform plan leaves Greece with the option of taking a "timeout" from the Euro, or accepting the harshest reform package yet to secure a new bailout. European finance ministers met in Brussels to hammer out a new plan, which was handed to the political leaders of the 17-member bloc, who held the final meeting during an emergency summit marked by serious disagreements between leading Eurozone members over the handling of Greece, RT reported. A draft of the plan was leaked on Sunday afternoon and reportedly discussed face-to-face by German Chancellor Angela Merkel, French President Francois Hollande and European Council President Donald Tusk and socialist Greek leader Alexis Tsipras. In the meeting, which one senior official described to the Guardian as “extensive mental waterboarding,” the leaders presented Tsipras with an ultimatum, of either agreeing to €82-86 billion ($91-$95.5 billion) bailout attached to an extensive reform plan by Wednesday, or exit Europe’s common currency. The proposed document demanded that Athens “reviews collective bargaining and industrial action agreements,” liberalizes its energy sector, and implements a “significantly scaled up” privatization program. In a disputed measure – left in square brackets in the text – is a proposal that €50 billion ($55.45 billion) of Greek assets would be transferred to an independent European body, to be privatized. This is while, Tsipras himself faces a domestic rebellion after his apparent about-turn, following a referendum in which Greeks said no to a new European bailout last Sunday. The conditions offered then were more generous than those in the latest proposal, and several prominent left-wingers from Tsipras’ Syriza party have called on him to resign.