Announcing the award on 12 October, the Norwegian Nobel Committee said it had been made in recognition of the stabilising role the EU has played in transforming Europe from a continent of war to a continent of peace. The EU’s most important achievement has been “the successful struggle for peace and reconciliation and for democracy and human rights”, it added. The ceremony will be webcast live from 12.50pm.

The EU will give the award money to projects supporting children who are victims of war and conflicts, matching it to make a joint sum of €2 million.