The Nobel Peace Prize for the current year has evoked mixed reactions.Brussels was overjoyed. "The EU is the biggest peacemaking institution ever created in human history," said Herman Van Rompuy, the president of the European council, who chairs European Union summits. The award was "the strongest possible recognition of the deep political motives behind our union", he said.

The prize, which is worth €921,000 (£743,000) will do little to help plug the EU's debt and banking crisis which has so far cost over €6 trillion. An interesting comparison from the internet: "If shared equally amongst the EU's 500 million citizens, it would pay a peace dividend of just €0.002, or less than two thousandths of a British penny."

The Nobel peace prizes have always been controversial and the objects of wild imaginations.While Science related awards often entail no dissents as the yardsticks to study the contributions of scientists are quiet transparent and tangible where as the critarian in spheres like peace it could be cumbersome and could always pronounce a tinch of subjectivity which could spell trouble.

It is not rare that the Nobel peace prizes to have been received by an organization.Organizations like Red Cross,UNICEF and Amnesty were the recipients over the years .But it is the first time a conglomeration of states getting the coveted prize.

The EU began decades ago in the 50's under certain treaties as a small organization known as the “Common Market,”to promote economic cooperation breaking down trade barriers among warring European states . Over time the organization expanded to a conglomeration of 27 states with 17 of them sharing the same currency. The union was conceived as a means to bring peace to a continent trampled by centuries of umpteen internecine wars. Over the last 5decades – as the Nobel Committee put it – Europe has been transformed from a continent of war to a continent of peace.

Was the peace in the area the handiwork of EU? Is the European Union, this year's recipient, a more worthy champion of peace? Opinion is divided and the debate is on.

After 1945 Germany was profoundly tamed and was an advocate of peace in the region. The EU was the tool of peace in the member countries . José Manuel Barroso, head of the European commission said "At its origins, the European Union brought together nations emerging from the ruins of devastating world wars – which originated on this continent – and united them in a project for peace." He added that the EU had reunited a continent "split by the cold war" around common values. The monetary Union was pivotal in promoting democracy and able governance across the continent. Spain, Portugal and Greece joined the EU after decades of fascist dictatorships.The Eastern Europe saw the EU as a harbinger of stability after years of Soviet occupation and Communist dictatorship. The EU has defended democratic institutions against authoritarian governments in Hungary and Romania. EU's single market, the 20th anniversary being officially celebrated is a remarkable political achievement, discarding protectionist tariffs that have paved the way for a huge expansion in trade. According to European Commission estimates,by 2006, the single market had boosted GDP by 2.2% and helped create an extra 2.75 million jobs in the EU countries.

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