Failure to deal with skyrocketing unemployment among young workers threatens to tear Europe apart and could spark a revolution, German Finance Minister Wolfgang Schaeuble said. France, Spain and Italy joined Germany at a conference in Paris calling for urgent action to rescue a generation from unemployment. Schaeuble said that if Europe were to abandon its welfare model in favor of the U.S. approach, "we would have revolution, not tomorrow, but on the very same day."

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