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Yes because it's a crappy union.
The EU was originally designed to unite the many countries of Europe and put an end to the thousands of years of feudal fighting and things like what started WW1 and WW2. Unfortunately it is set in the politics of Socialism, which is derived from the ashes of Communism and will most likely become its downfall as where ever Socialism has raised its ugly head failure was soon to follow.
However, there is a much more deadly threat to Europe that is now arising. A rapidly spreading cancer called "Islam".
If by fail you mean collapse, then the answer is no. If by fail you mean lower the standard of living for people living under it, then yes.
The European Union originally stemmed out of the European Economic Committee. This was a committee designed to encourage free trade across the continent – a policy that is centered on neo-liberalism rather than socialism.
As for the discriminatory comment on Islam, perhaps you should learn more about it. Islam embraces the moral beliefs of both Christianity and Judaism. The morals espoused by Mohammed were amazingly progressive – he was known for embracing and protecting people of other beliefs (notably Jewish communities who were persecuted by the Christian Byzantine empire and the Coptic Church in Egypt).