Hi faul,
I thought it was a brave decision, and is presumably based on history since WW2, not the latest headlines.
I would not have given the prize to the Euro, which is the cause of the current mess. But the Euro did not get the prize.
Also, I am not so keen on the idea of a federal Europe myself. But I understand why some people think it is a good idea. As an island, it is easier for the British to feel they are not part of the flux and tensions that have made Europe so volatile over the centuries.