He has agreed personal terms, although we don't know if this was with Ajax's blessing (via agents) or direct following permission from Ajax.
The transfer fee has been agreed. However there are 2 problems:
1) The structuring of the payments, for starters Ajax want a very large down payment.
2) Both sides want to include Babel in the deal but again there is a difference in the valuation.
Talks are ongoing. Liverpool have back-up options. All of this is normal for such a highly-rated and valued player.
Remain calm.