If the European Union does not take any anti-crisis measures, the euro currency could collapse by Catholic Christmas celebrated on December 25, says the well-known French economist Jacques Attali.

The question is whether the euro will still exist around Christmas time. There are only two options. The single currency either maintains or collapses, reports RIA Novosti, in reference to Attali’s words to Brussels radio station.

According to Attali, to escape the euro crash, the European Central Bank must be let purchase debt-stricken countries’ bonds, thus partially depriving them of their financial sovereignty. Their national budgets must be kept under control, the economist adds.

There are three stages of these anti-crisis measures. The first one takes five minutes to be launched, the second – a week, while the third – six months. The thing is that they all need to be launched simultaneously, otherwise we will be approaching a catastrophe, he says.

Ref: 102.105.105.373