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News Story
Updated: 10/12/2012 10:28:03PM

Crisis-ridden EU wins Nobel Peace Prize

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FILE - In this Monday, May 9, 2011 file photo, EU flags fly at the European Commission headquarters in Brussels. . The European Union has won the Nobel Peace Prize, it has been announced on Friday, Oct. 12, 2012. (AP Photo/Yves Logghe, File)

FILE In this Wednesday Nov. 8, 2006 file photo, European Union flags wave in the wind outside EU headquarters in Brussels. The European Union has won the Nobel Peace Prize, it has been announced on Friday, Oct. 12, 2012. (AP Photo/Virginia Mayo, File)

FIle- In this Wednesday July 15, 2009 file photo, President of the European Commission Jose Manuel Barroso shows the European flag during a debate at the European Parliament. The European Union has won the Nobel Peace Prize, it has been announced on Friday, Oct. 12, 2012. (AP Photo/Lionel Cironneau, File)

Norwegian Nobel Committee Chairman Thorbjoern Jagland, centre, announces the European Union as the recipients of the 2012 Nobel Peace prize in Oslo, Norway, Friday, Oct. 12, 2012. The European Union has been awarded the Nobel Peace Prize for its efforts to promote peace and democracy in Europe, in the midst of the union's biggest crisis since its creation in the 1950s. The Norwegian prize committee said the EU received the award for six decades of contributions "to the advancement of peace and reconciliation, democracy and human rights in Europe. (AP Photo, Heiko Junge / NTB Scanpix Noway) NORWAY OUT

FILE - In this Friday, Dec. 9, 2011 file photo European Council President Herman Van Rompuy, right, and European Commission President Jose Manuel Barroso participate in a media conference at an EU summit in Brussels. The European Union was awarded on Friday Oct. 12, 2012 the Nobel Peace Prize for its efforts to promote peace and democracy in Europe, in the midst of the union's biggest crisis since its creation in the 1950s. The Norwegian prize committee said the EU received the award for six decades of contributions "to the advancement of peace and reconciliation, democracy and human rights in Europe. (AP Photo/Virginia Mayo, File)

Norwegian Nobel Committee Chairman Thorbjoern Jagland, left, announces European Union as the recipient of the 2012 Nobel Peace prize in Oslo, Friday Oct. 12, 2012. The Norwegian Nobel Prize Committee says the EU receives the award for six decades of contributions "to the advancement of peace and reconciliation, democracy and human rights in Europe." (AP Photo / Heiko Junge, NTB scanpix) NORWAY OUT

By JULIA GRONNEVET and KARL RITTER

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