European Union wins Nobel Peace Prize for uniting continent

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.

The president of the European Parliament welcomed the awarding of the 2012 Nobel Peace Prize to the European Union on Friday, saying it recognised post-war reconciliation in Europe and would serve as an inspiration. “(We are) deeply touched and honoured that the EU has won the Nobel Peace Prize,” Martin Schulz said in a statement distributed on Twitter.

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