BRUSSELS--Euro zone deputy finance ministers and senior central bankers have reached an agreement on the terms of possible emergency loans for Greece, a European Union source said on Friday.
"A deal has been reached," said the source, who has close knowledge of the discussions. Asked about the interest rate that the euro zone would charge for such loans, the source said:
"It is almost a carbon copy of International Monetary Fund terms."
Asked what the IMF terms were, the source said:
"For loans up to three years, it is the SDR rate plus 300 bps plus 50 bps service charge."
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