Two people are caught in the aftermath of something that has gone badly wrong, and the speaker is trying to work out whether their love can survive it. The refrain "In the wreckage of this world" comes back again and again, so the damage feels like the whole setting of the relationship, not just one event. Nothing else seems left but "you and me."
The speaker starts out tender and steady, offering to stay even if "nothing holds" the other person. Then doubt creeps in: "I love you / But do you love me." The ending is the hardest part. The speaker decides to leave because staying is hurting the other person, and the final line, "I still love you," shows that leaving doesn't mean love has stopped.
The mood is quiet, worn out, and sad. The repetition feels like a mind circling the same pain, and the short lines leave a lot of empty space, as if the speaker has little strength left to say more.