SARAJEVO - Europe's debt crisis is undermining the common values that once united the continent and the single currency risks opening up new rifts across the European Union, Italian Prime Minister Mario Monti said on Sunday.

Calling for the 27-nation bloc to reclaim the values of tolerance, solidarity and the common good upon which he said it was built, Monti said Europe was in the grip of a crisis that went far beyond its economic problems.

"This crisis is undermining the foundations of humanism around which Europe was born and developed," he told a conference of religious and political leaders in Bosnia.

"The euro that was a unifying factor... risked and is still risking maybe paradoxically to become a source of new divisions, of new rifts in Europe," he added.

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