Update: according to Capital.gr, the preliminary agreement covers the following points:

4 not 6-month extension

no completion of current program

no new austerity measures

no unilateral actions

That said, according to the FT, there are still many details left to be decided despite the Greek agreement in the pre-meeting negotitations. To be sure, this wouldn't be the first time all parties had agreed on a draft, only for that draft to be replaced in the last minute.

* * *

Just minutes after convening - following a few hours of backroom shuttle diplomacy, Bloomberg reports:

1235ET GREEK OFFICIAL SAYS IT APPEARS EUROGROUP HAS REACHED AN ACCORD

1243ET GREEK GOVT SPOKESMAN SAYS NOT INFORMED OF ANY EUROGROUP DEAL

US equity and EURUSD markets are exuberant... We wonder how much mutiny Tsipras will face back at home...