"I think this is one of the last chances, that's why we took this initiative," Hollande said, as cited by Reuters.
"If we don't find not just a compromise but a lasting peace agreement, we know perfectly well what the scenario will be. It has a name, it's called war," he added.
Hollande was speaking to journalists in the city of Tulle in central France.
Earlier on Saturday, Angela Merkel said at the Munich Security Conference she believed the “Ukrainian crisis cannot be resolved militarily.”
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