The 2012 Nobel Peace Prize has gone to the European Union (EU) for contributing to peace and reconciliation, democracy and human rights in Europe for over six decades. The prize, carrying $1.2 million in cash, will be presented in Oslo on December 10. The decision of the five-member panel, led by Council of Europe Secretary-General Thorbjoern Jagland, was unanimous.
Ever since the Treaty of Rome in 1957, which had started off with six nations seeking greater economic integration, the bloc is now 27-member strong including the East European states. Currently, the EU is mired in an economic crisis with strains on the euro, the common currency shared by 17 nations.