Nobel Peace Prize 2012: European Union Wins For Role In Uniting Continent

OSLO, Norway (AP) — The European Union won the Nobel Peace Prize on Friday for its efforts to promote peace and democracy in Europe – an award given even though the bloc is struggling with its biggest crisis since it was created in the 1950s.

The Norwegian prize committee said the EU was being honored for six decades of contributions "to the advancement of peace and reconciliation, democracy and human rights in Europe."

"The stabilizing part played by the European Union has helped to transform a once-torn Europe from a continent of war to a continent of peace," Nobel committee chairman Thorbjoern Jagland said.

The EU grew out of the tremendous devastation of World War II, fueled by the conviction that ever-closer economic ties would make sure that century-old enemies never turned on each other again. It's now made up of 500 million people in 27 nations, with other nations lined up, waiting to join.

But the European project is now facing its greatest challenge yet – a debt crisis that has stirred deep tensions between north and south, caused unemployment to soar across the bloc and is threatening the euro, the common currency used by 17 of its members.

Social media exploded with strong reactions Friday, both for and against, awarding the prize – worth 8 million Swedish kronor ($1.2 million).

"The EU is an unique project that replaced war with peace, hate with solidarity. Overwhelming emotion for awarding of (hash)Nobel prize to EU," Martin Schulz, president of the European Parliament, wrote in a tweet.

"Nobel prize for the EU. At a time Brussels and all of Europe is collapsing in misery. What next? An Oscar for Van Rompuy?" said Dutch euro-skeptic lawmaker Geert Wilders, referring to Herman Van Rompuy, president of the European Council.