EU wins Nobel Peace Prize for uniting continent (by Sara Sjolin)

LONDON (MarketWatch) -- The Norwegian Nobel Committee on Friday awarded the European Union the Nobel Peace Prize for 2012, citing in part the EU's effort to overcome economic struggles and social unrest in the region. "The Norwegian Nobel Committee wishes to focus on what it sees as the EU's most important result: the successful struggle for peace and reconciliation," the committee said. In addition, it highlighted the EU's contribution to democracy and human rights in Europe in the aftermath of two world wars. "Today war between Germany and France is unthinkable. This shows how, through well-aimed efforts and by building up mutual confidence, historical enemies can become close partners." The committee also stressed that the EU's stabilizing part "has helped to transform most of Europe from a continent of war to a continent of peace."