by Calculated Risk on 2/20/2015 01:52:00 PM

Just an update: Some details have leaked out, although the text is not available yet. It appears there will be a four month extension of the loan agreement - not the program - and the Greek government will standstill for four months - with no additional austerity, and no new spending programs. This is all tentative and the details could be wrong.

Press conference here, possibly as soon as 2 PM ET.