Greek Finance Minister Yanis Varoufakis told media in Athens Tuesday that it will not meet its midnight deadline to repay 1.6 billion euros to the IMF.
The head of the European Commission, Jean-Claude Juncker, is said to have made a last minute-offer to Greek Prime Minister Alexis Tsipras on a bailout deal that he’d previously rejected.
On Sunday the country is set to vote on whether it should stay with the euro or not.
WP spoke to Dimitris Kagialaris, President of Toronto-based Ermis Associates, a firm dedicated to representing the interests of Greek-Canadians in Greece, about the current situation in Athens. Kagialaris was quite sanguine about what’s happening overseas.
“Our clients right now are not acting on the latest news as things still remain in flux,” Kagialaris said. “Until more information is known we are recommending that our clients move cautiously regarding events in Greece.”