Merkel warns of threat of recession in Europe

German Chancellor Angela Merkel on Tuesday warned that Europe could slide back into recession, German newspaper Frankfurt Allgemeine reported.

"If we do not want to be left behind by the growth markets, then Europe has to hurry up," Merkel told a conference of European family entrepreneurs here.

She called for an early conclusion of ongoing trade agreement negotiations with Canada and the United States.

Given the increasing weight of Asia in the global economy, "Europe is no longer the measure of all things," said Merkel.

She noted that opportunities may outweigh risks once the free-trade agreements with Canada and United States are put into place.