Economy World

The euro may disappear before Christmas

The euro may disappear before Christmas, if adequate anti-crisis measures are not adopted at European level, said the famous French economist Jacques Attali.

“The question: does the euro will always exist at Christmas?  There are more than one chance in two that the single currency will not be there or at least it is trying to get rid “said the former president of the European Bank for reconstruction and Development, cited by Belgian radio.

According to Mr. Attali, to prevent the death of the euro it is essential to allow the European Central Bank to redeem the bonds of European countries hit by the crisis. It is also necessary that they give up some of their fiscal sovereignty and that the EU makes changes to its legislation.

“There are three floors. The first can be done in five minutes, the second in a week, the third in six months. But you have to start all three simultaneously. Otherwise, we go to the disaster,” said the economist .

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