We give a formula for the Euler characteristic of the Milnor fibre of any a
nalytic function f of two variables. This formula depends on the intersecti
on multiplicities, the Milnor numbers and the powers of the branches of the
germ of the curve defined by f: The goal of the formula is that it use nei
ther the resolution nor the deformations of f: Moreover, it can be use for
giving an algorithm to compute it.