Listen: Legendary entrepreneur Jim Mellon thinks the Eurozone’s common currency will be forced to disband within years
By now, everyone has just heard a lot about the minutae of what will or won't happen if the UK leaves the European Union.
A little currency weakness here, a little more exporting there – for many, the two sides are essentially arguing over trivia.
But then there's entrepreneur Jim Mellon, who has warned that the UK needs to get out of the European Union while it can – or face doom. The Brexocalypse, if you will.
Mellon discusses impending doom for the Eurozone
Recording City A.M's Unregulated podcast yesterday, Mellon repeated his warning that France and Italy are "essentially bankrupt" and predicted that the Eurozone will be forced to disband very soon – taking the currency with it.
"Within three years, the Eurozone will have to disband the common currency, because it is impossible for France and Italy to repay their debts under the current structure," he said.
"Sooner or later investors are going to take fright and interest rates [in Europe] are going to rise sharply, causing a split-up of the Eurozone."
In an article published in City A.M. back in February, Mellon argued the UK's economy was strong enough to withstand a Brexit.
"An EU official [suggested to me] that Britain was bust, a lagging economy, and poorer than France.
"As an economist and a businessman with extensive interests in the EU, I know the opposite to be true. The UK is really the only dynamic large economy in Europe, enjoys superior growth, lower unemployment, and has a per capita GDP that is significantly higher than that of France and Italy."
Listen to the full interview with Jim Mellon below – or subscribe to City A.M. Unregulated on Audioboom or iTunes.