The front page

"We are not gathered here today in the belief that the EU is perfect. We are gathered here in the belief that Europeans must solve problems together,” said the chairman of the Norwegian Nobel committee, Thorbjørn Jagland, at a ceremony to award the Nobel Peace Prize to the EU in Oslo. The prize was accepted by the presidents of the European Commission, the European Parliament and the European Council: respectively, José Manuel Barroso, Martin Schulz and Herman Van Rompuy. The Council President called for unity in response to “the worst economic crisis in two generations.”

We are not here because Europe is perfect – Die Welt

Prime Minister Lawrence Gonzi is expected to tender his resignation on December 11, following his government’s loss of its parliamentary majority in a vote over the 2013 budget. MP Franco Debono, a member of the ruling Nationalist Party, crossed the house, depriving the centre-left government of a crucial vote. General elections will now be organised for March 9, 2013.

Government collapses – The Malta Independent

Prime minister Mario Monti’s imminent resignation and Silvio Berlusconi’s intention to run for Italy’s government in the 2013 general elections spread concern among European partners about the country’s stability. While Monti sought to give assurances on the “responsible behaviour” of any government emerging from the vote, the yield difference between German Bunds and Italian bonds soared and Milan’s stock exchange lost ground.

Italy scares EU and the markets – La Stampa

EU authorities are considering a legal crackdown on some national financial regulators for restricting European banks from freely moving funds across national borders. EU officials fear regulators in countries, including the UK and Germany, are attempting to discourage banks from moving funds back to their home countries in an effort to insulate their banking systems amid fears of a eurozone breakup.

EU prepares to put reins on regulators – The Wall Street Journal Europe

The General Motors subsidiary has announced that it will stop producing cars in its plant in Bochum, western Germany, in 2016. Some 3,200 workers are directly threatened by the decision, which could lead to the loss of 40,000 jobs throughout the region. The news follows reports that Ford is also planning to close factories in Belgium and the United Kingdom.

Opel allows Bochum plant to collapse – Süddeutsche Zeitung

As the counting of ballots in the wake of the December 9 general elections draws to a close, the Social-Liberal Union led by Prime Minister Victor Ponta has almost 60 per cent of the vote. Factoring in the “electoral bonus” stipulated by Romanian law, the USL will probably obtain 66 per cent of seats in the country’s Senate and Chamber of Deputies, while the Romania Right Alliance will be awarded just 14 per cent of seats, even though it won close to 17 per cent of the vote.

USL remains without opposition – România libera

The Scottish National Party (SNP) government’s deputy first minister Nicola Sturgeon has said she refuses to accept a ruling by the European Commission’s president that should voters choose an independent Scotland in the scheduled 2014 referendum, the nation would have to apply for membership of the EU. The SNP, which has always claimed that Scotland would automatically remain a part of the EU after independence, is seeking urgent talks with the Commission.

New setback for SNP over EU membership – The Scotsman