The European Union’s Nobel Peace Prize: Controversial Honor?

Even though current EU president Jose Manuel Barroso say’s it’s an honor for the European Union to be the 2012’s Nobel Peace laureate – but is this a rather controversial bestowment of honor?

By: Ringo Bones

The European Union winning the 2012 Nobel Peace Prize further reinforces outsiders’ perceptions yet again that the Nobel Peace Prize is the most controversial of all the Nobel Prizes annually awarded. Although the five-person Nobel Peace Prize Committee elected by the Norwegian Storting (Parliament) did give justification on why they unanimously awarded this year’s Nobel Peace Prize to the EU – namely the European Union’s promoting reconciliation since World War II despite of the political and diplomatic obstacles posed by the Cold War. And after the 20^th Century’s two terrible world wars are largely waged on the European continent, this is no mean feat indeed.

Despite of the current Eurozone debt crisis which seems the European Union is still formulating a lasting solution, incumbent EU president Jose Manuel Barroso not only expressed that EU winning this year’s Nobel Peace Prize is an honor but also proves that the EU is something very precious. Sadly, the monetary funds of the Nobel Peace Prize only amounts to around 1.1 million US dollars – which is 14% down from last year after a difficult global economy affected the Nobel Prize Committee’s hedge fund earnings financing the prizes. Meaning the prize is far too small to be used to bail out the Eurozone debt crisis. Well, at least the Nobel Peace Prize also comes with a 23-karat gold medal about two and a half inches across that weigh nearly half a pound and designed by Swedish sculptor Erik Lindberg, and don’t forget that uniquely designed diploma that resembles a medieval illuminated manuscript.

Despite the moans and groans of those who didn’t agree with the Norwegian Nobel Peace Prize Committee awarding this year’s Nobel peace Prize to the European Union, the other worthy contender – a 14-year-old girl blogger from Pakistan named Malala Yousafzai who was busy campaigning for girl’s basic education that was shot by the Taliban last week – wasn’t nominated early enough for the February 2012 deadline for the Nobel Peace Prize nominees for this year. Well, at least there’s still next year’s Nobel Peace Prize to consider.