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The European Union wins Nobel Peace Prize

World News

12-10-2012 | 04:15

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The European Union wins Nobel Peace Prize

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The European Union won the Nobel Peace Prize for its long-term role in uniting the continent, the Norwegian Nobel Committee said on Friday, an award seen as morale boost for the bloc as it struggles to resolve its debt crisis.

The committee praised the 27-nation EU for rebuilding after World War Two and for its role in spreading stability to former communist countries after the 1989 fall of the Berlin Wall.

Norwegian public broadcaster NRK said an hour before the announcement that the EU would win.

The prize, worth $1.2 million, will be presented in Oslo on December 10.

President of European parliament Martin Schulz says "deeply touched and honored" that EU has won Nobel peace prize.

"We are deeply touched and honoured that the EU has won the Nobel Peace Prize," Martin Schulz said in a statement distributed on Twitter.

"Reconciliation is what the EU is about. It can serve as an inspiration. The EU is a unique project that replaced war with peace, hate with solidarity."

The Nobel committee said the EU deserved the award for its long-term role in uniting the continent after World War Two.

REUTERS

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