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The European Union has received the Nobel Peace Prize in honour of its peace-keeping since World War Two at a ceremony in Norway.
ITV News' Europe Editor James Mates reports from Oslo:
Deputy Prime Minister Nick Clegg has said that "it's not a bad thing" to honour peace in the European Union with the Nobel Peace Prize.
The Liberal Democrat leader said: "It's a not a bad thing from time to time to recognise that we've had 70 years of peace in a continent that had been racked with conflict and war for much of the last century."
Nick Clegg's office has tweeted a picture of the Deputy Prime Minister meeting French President Francois Hollande in Oslo, after the European Union received the Nobel Peace Prize.
European leaders are in Norway to collect the 2012 Nobel Peace Prize but Prime Minister David Cameron will not attend.
The European Union was awarded the prize for fostering peace on a continent ravaged by war.
Deputy Prime Minister Nick Clegg will represent Britain at the ceremony in Oslo, where Nobel committee chairman Thorbjoern Jagland will present the prize worth $1.2 million (around £750,000).
German Chancellor Angela Merkel and French President Francois Hollande will be among the leaders at the ceremony which comes before a summit on the financial crisis later this week.
The National Security Council (NSC) has congratulated the European Union on the awarding of the Nobel Peace Prize.
David Cameron made no comment on the European Union's Nobel Peace Prize award bucking the trend of other EU leaders who were quick to express their pride.
German Chancellor Angela Merkel said the selection of the EU was a "wonderful decision" contrasting the Prime Minister who remained silent on the subject.
A spokesman for Mr Cameron said: "I don't think we're intending on putting anything out".
However, the Foreign Office did comment on the award, saying: "This award recognises the EU's historic role in promoting peace and reconciliation in Europe, particularly through its enlargement to Central and Eastern Europe".
Eurosceptic MP Bill Cash has hit out at the decision by the Norwegian Nobel Committee to award this year's peace prize to the European Union. He said:
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The European Union's three presidents collected the Nobel Peace Prize today in Oslo.