EU receives Nobel Peace Prize, Van Rompuy pledges to master economic crisis

European Union leaders accepted the Nobel Peace Prize with a pledge to master the economic crisis that threatens to set back the six-decade quest for a more united continent.

"The test Europe is currently facing is real," EU President Herman Van Rompuy said during the Nobel ceremony in Oslo. "We answer with our deeds, confident we will succeed. We are working very hard to overcome the difficulties, to restore growth and jobs."

Quoting Konrad Adenauer, Winston Churchill, Abraham Lincoln and EU founding father Jean Monnet, Van Rompuy said the 27-nation bloc needs to recommit to its loftier purposes in the face of recession and 10.7 percent unemployment.

"We are hit by the worst economic crisis in two generations, causing great hardship among our people, and putting the political bonds of our union to the test," Van Rompuy said. "For some, not only joint decisions, but the very fact of deciding jointly, may come into doubt."

Present to accept the prize from the EU were also European Commission President Jose Manuel Barroso and European Parliament President Martin Schulz. 23-year-old Maltese Larkin Zahra was part of the delegation together with other three young Europeans.

(Source: Facebook - Peace Europe Future)

The €930,000 prize will be given to children affected by war and conflicts across the world. The recipients of the projects will be announced next week. The EU also said that it will match the prize money, so that a total of €2 million euros will be given to the selected aid projects.