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    EU Wins 2012 Nobel Peace Prize

    A man takes a picture of the European flag at the European Commission headquarters in Brussels, Friday, Oct. 12, 2012. The European Union won the Nobel Peace Prize on Friday for its efforts to promote peace and democracy in Europe, an award given even though the bloc is struggling with its biggest crisis since it was created in the 1950s.  (AP Photo/Geert Vanden Wijngaert)

    Geert Vanden Wijngaert / AP Photo

    Well, the thought is nice. The European Union was awarded the Nobel Peace Prize on Friday, despite the coalition's current financial woes. The Nobel committee, which praises the institution for changing Europe "from a continent of wars to a continent of peace," seems to have awarded the prize as a morale booster: the committee chairman revealed that the decision was a reminder of what the world would lose "if the Union is allowed to collapse." But with the current euro-zone crisis, the award just might be ringing a little hollow.

    Read it at Reuters