Bloomberg reports with the headline, citing an official familiar with the matter

This ties to the latest proposal of a split between €390 billion in grants and €360 billion in loans as reported earlier here.

Again, for those catching up, negotiations are set to extend to a fourth straight day later at 1400 GMT. But as has always been the case, European leaders won't push the limits of any meeting unless they are confident of reaching some form of compromise.

The continued push back by the "frugals" are largely seen as a grandstanding to appease their own domestic crowd so it looks like they are ready to move on now.

The headline is giving a mild nudge higher to the euro as we look towards the start of European morning trade later. EUR/USD moved up from 1.1430 to 1.1442 currently.