The chairman of the Burnbrae Group told CNBC on Friday the end of the euro is looming after the British vote to leave the European Union.
The currency hit a low of $1.0909 against the dollar after the vote, ending the session near $1.11. While many analysts have bet on a break up of the single currency in the past, the U.K.'s decision to exit the EU has raised the stakes, and led to speculation that dissatisfaction with European unity could lead other members to depart.
Burnbrae's Jim Mellon, who had supported the leave campaign, told CNBC's "Worldwide Exchange" the euro is "unsustainable." He said that within the euro zone, Germany's currency is "significantly undervalued, but France's is overvalued."
"I think the euro is gone within three to five years, as it currently exists," Mellon said.
David Bloom, global head of FX strategy at HSBC, told "Worldwide Exchange," he's not so sure the euro is doomed. "The question is one of contagion," he said.