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European Union wins Nobel Peace Prize
 
The euro symbol is reflected in a puddle in front of the European Central Bank in Frankfurt, Germany: Eurozone leaders meet in Brussels Thursday to decide the monetary system's fate.
The euro symbol is reflected in a puddle in front of the European Central Bank in Frankfurt, Germany: Eurozone leaders meet in Brussels Thursday to decide the monetary system's fate.
Uwe Zucchi/dpa/Corbis

The European Union was named winner of this year's Nobel Peace Prize on Friday, in a unanimous decision to honor "the advancement of peace and reconciliation, democracy, and human rights in Europe." The EU, founded in the 1950s, is now in the midst of perhaps its biggest crisis. But "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," says Nobel committee chairman Thorbjoern Jagland. Norway, which awards the peace prize, has twice voted against joining the EU.

 

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