Inside Story - Is the Nobel Peace Prize losing its prestige?

It has been described as the most prestigious award in the world - the Nobel Peace Prize, whose past winners include Martin Luther King, Mother Teresa and Nelson Mandela. But this year's award to the European Union is adding to growing criticism over the choice of winners - and the politics behind the decisions. So, is the Nobel Peace Prize losing its prestige? And is the Nobel Peace Prize still contributing to world peace in the way Alfred Nobel envisioned?