European Union Receives Nobel Peace Prize 2012

From left, European Union Members stand with member of the Norwegian Nobel Committee
Kaci Kullmann on the podium during the Nobel Peace Prize ceremony in the City Hall, Oslo. (AP)

OSLO, Norway -- The European Union received the Nobel Peace Prize on Monday for promoting peace and human rights in Europe following the devastation of World War II, and the bloc was urged to use that unity in its battle with the region's economic crisis.

About 20 European government leaders, including German Chancellor Angela Merkel, French President Francois Hollande and British Deputy Prime Minister Nick Clegg, attended the ceremony in the Norwegian capital.