World leaders meeting at next weeks Asia-Pacific Economic Cooperation (APEC) conference in Peru are expected to endorse a proposal from the International Monetary Fund (IMF) to erase Christmas from this years calender.
IMF spokesman Dr E.Scrooge said that banks worldwide will not be able to sustain the amount of credit demanded by consumers eager to spend above their limits during the seasonal shopping frenzy.
Credit card companies such as Mastercard and American Express will be instructed to automatically block customers from using their cards.
The sales of Christmas cards,decorations, lights trees etc. will be prohibited worldwide.
People will be allowed to attend Church as usual however in a concession to those who see Christmas as some kind of religious festival.