he European Union has been awarded the Nobel Peace Prize for 2012. The award has been given to the European Union (EU) for six decades of work in advancing peace in Europe. The Norwegian Nobel Committee said, the EU has helped to transform Europe from a continent of war to a continent of peace. 

Announcing the award, Nobel Committee President Thorbjoern Jagland acknowledged the EU's current financial problems and social unrest. But he said, the committee wanted to concentrate on the EU's work over six decades of advancing peace and reconciliation, democracy and human rights. 

The President of the European Parliament Martin Schulz, said he was deeply touched and honoured with the award. The award comes as the European Union faces the biggest financial crisis of its 54-year history, with many of its member states mired in recession. The last organisation to be given the award outright was Medecins Sans Frontieres, which won in 1999.

European Union foreign policy chief Catherine Ashton met with Myanmar opposition leader Aung San Suu Kyi in Rangoon today. Addressing a news conference in Rangoon, Ashton urged Myanmar government to continue its progress toward democracy. She is set to open a new EU office in Rangoon to oversee the management of aid programs and to handle political matters. 

Ashton said, this move would be the first step toward establishing a full diplomatic delegation. Her visit comes just days after the EU suspended a wide range of trade, economic and individual sanctions against the long-isolated country. On Monday, Ashton will meet with President Thein Sein and other officials in the administrative capital, Naypyidaw.

The European Union, EU, is keen to enhance ties with India in fields like counter-terrorism, cyber security and anti-piracy operations. interacting with a group of Indian journalists in Brussels, EU External Action Service Chief Operating Officer David 'O' Sulllivan said that both the sides are working to chart out common agendas.
On the issue of counter-terrorism, he said agencies concerned of the two sides are engaging each other to enhance their cooperation.Asked about India's complaint over problems in extraditing criminals from Europe, the EU officials said it was a sensitive issue for EU member countries who have strict legal procedures in this regard.On counter-piracy operations, they said the Indian Navy and EU Naval Forces are already cooperating in the piracy infested Gulf of Aden.

EU nations are set to suspend sanctions against Myanmar for a year, opening the way to a potential trade and investment bonanza with over 800 firms. European Union diplomats said today a formal announcement is expected at a meeting of EU foriegn ministers on Monday last in Luxembourg. 

Suu Kyi's endorsement of the suspension is as crucial as 12-month suspension period will give time to assess the sustainability of reform. The ministers are expected to also agree to include the possibility of reviewing the decision in six months.EU