"The past 12 months have also seen Brussels help to push aside the democratically elected governments in Greece and Italy, and widespread civil unrest and rioting.
This week saw Greek citizens dressed as Nazis burn swastika flags to protest at a visit to Athens by German Chancellor Angela Merkel.
Last night former Chancellor Lord Lamont ridiculed the decision, saying: 'Today's decision seems preposterous and absurd.
'It would require a heart of stone not to die of laughter. It is the most ridiculous decision since the committee gave the peace prize to Barack Obama when he had been US President for two minutes.'