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Euro Zone Leaders Agree on Greek Aid (After US stocks close)

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Euro zone leaders approved emergency loans for Greece on Friday and governments around the world tried to calm markets shaken by fears that Athens' debt crisis could cause turmoil in other European economies.

The Parthenon in Greece
Scott E. Barbour | Getty Images

An official from the European Union who spoke with CNBC confirmed the planned "coordinated financial assistance" for Greece.

"It's done," another European Union source told Reuters, confirming the leaders of the 16-country single currency group had given their political stamp of approval to an EU-IMF deal to release 110 billion euros ($147 billion) to Greece over three years.