Oslo:
The president of the European Parliament welcomed the awarding of the 2012 Nobel Peace Prize to the European Union on Friday, saying it recognised post-war reconciliation in Europe and would serve as an inspiration.
"(We are) deeply touched and honoured that the EU has won the Nobel Peace Prize," Martin Schulz said in a statement distributed on Twitter.
"Reconciliation is what the EU is about. It can serve as an inspiration. The EU is a unique project that replaced war with peace, hate with solidarity."
The Nobel committee said the EU deserved the award for its long-term role in uniting the continent after World War Two.
© Thomson Reuters 2012