"Clearly there is a problem in Europe," he said. "France and Italy are the EU's second- and third-largest economies and they are refusing to make the necessary structural changes. Both need structural labor reforms."
Unless changes are implemented and implemented soon, Sri-Kumar thinks a breakup is the most likely outcome.
In the past strategic investor Dennis Gartman, author of The Gartman Letter, has cited cultural differences as a powerful force that could drive a split.
Read More German downturn casts shadow over world economy
It should be noted, both pros concede that a breakup is far from inevitable.
However, Sri-Kumar believes the economic downturn, may compel the various member nations to take action. As things stand now, "I think there's 30 percent change of a break up in 3 years," he said.