If one more Brexit-like event takes place, the European Union may cease to exist, Jim Mellon, chairman of the Burnbrae Group and renowned investor who correctly forecast the last economic recession.

Axar.az reports that, a broken piggybank painted in the colours of the Greek flag lies amongst various euro coins in front of letters spelling the word Greece in this picture illustration taken in Berlin, Germany June 30, 2015

Burnbrae Group Chairman Jim Mellon warned of far-reaching consequences of any member state withdrawing from the European Union.
Burnbrae Group Limited is a private equity and venture capital firm specializing in investments in mature cash generative businesses, new and exciting start-up ventures, and emerging markets, according to Bloomberg.

Mellon's interview came amid the latest reports that the European Central Bank's monetary policy is becoming an increasingly divisive issue, threatening to break the Eurozone apart.