European Union wins Nobel Peace Prize

The European Union has been awarded the 2012 Nobel Peace Prize as a “advancement of peace and reconciliation,” being applaud for its solidarity as it continues to work to contain the debt crisis hanging over the euro zone.

According to Wall Street Journal, the head of the Norwegian committee Thorbørn Jagland said that the committee gave the award in an effort to encourage Europeto back away from the “extremism and nationalism” that led to major conflict in years past. “This is, in a way, a message to Europe to secure everything we have achieved and move forward,” he said while addressing a packed crowd at the Nobel Norwegian Institute in Oslo Friday.

“We don’t have a position on how to solve the economic crisis, but we believe it will be important to solve it and that European unity can be kept so that Europecan move forward. There are many things to say about the economic crisis, where it originated for instance. Actually, it started in theU.S.and all of us had to deal with it,” added Jagland.

Regarding the value in money of the prize, which is approximately USD 1.2 million, Jagland declared that it is “up to the European Union” to decide what to do with them. He also said the EU should decide how the award is ceremonially received.

Oana Vasiliu

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