The British businessman also suggested the European Union is exploiting the Brexitnegotiations to avoid having to address the “volcanic” threat Italy poses to the bloc.
Rome and Brussels have been engaged in a blistering battle of words since Economic and Financial Affairs Commissioner Pierre Moscovivi rejected Italy’s 2019 budget proposals in October.
Mr Mellon suggested the European Central Bank (ECB) could soon stop being able to “contain” unnerved markets and lead to Italy leaving the euro.
Speaking to CNBC, he said: “There is no way the ECB can contain the Italian situation if it carries on as it is. We know if the BTPs got above 4 percent and yield – and they’re not that far away from it – then Italy has really no option but to leave the euro and take some drastic action.
61chrissterry 
Remainers please note, there may be soon, no EU left to remain into, we should, be a deal, to keep the £39billion or more until we see what is to happen with the EU.
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