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EU wins 2012 Nobel Peace Prize, despite debt crisis

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OSLO (Reuters) – The European Union won the Nobel Peace Prize on Friday for its historic role in uniting the continent in an award meant as a morale boost for the bloc as it struggles to resolve its debt crisis. The EU has been a key in transforming Europe "from a continent of wars to a continent of peace," Committee chairman Thorbjoern Jagland said in announcing the award in Oslo. "This is a message to Europe to do everything they can to secure what they’ve achieved and move forward," Jagland said, saying it was a reminder of what would be lost "if the union is allowed to collapse". . . .

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