If the euro collapses, Europe will collapse too

German Chancellor Angela Merkel stated on Monday that the collapse of the euro would mean the collapse of Europe, and called for compromise at a time when fears of Greece's exit from the monetary union are high, reports the Patria News Agency.

"If the euro collapses, Europe will collapse too," the Chancellor said before members of her conservative party in Berlin, speaking publicly about it for the first time after the failed negotiations held between Greece and its creditors last weekend in Brussels.

"If we lose the ability to find a compromise in this, Europe is lost," she said.

Her spokesperson Steffen Seibert said at a regular press conference on Monday that the Chancellor is ready for renewed negotiations with her Greek counterpart Alexis Tsipras if he wishes, writes AFP.