ANGELA MERKEL IS THE FAVOURITE TO WIN THE NOBEL PEACE PRIZE

German Chancellor Angela Merkel meets with U.S. President
Barack Obama in the Oval Office at the White House on
May 2, 2014 in Washington, DC.

German Chancellor Angela Merkel is tipped to win this year's Nobel Peace Prize for her leadership on the refugee crisis in Europe.

Pope Francis was the bookies' favourite until recently to pick up the prestigious prize, but odds have shifted over the weekend after a Merkel was named as the favourite by a key prize predictor.

Kristian Berg Harpviken, director of the Peace Research Institute Oslo (PRIO), publishes a closely watched shortlist of likely winner each year and 2015's list is topped by Merkel, the Telegraph reports.

Merkel is now favourite, with Ladbrokes offering odds of 2/1 that she will pick up the prize.

The Telegraph quotes Mr Harpviken as saying: "Angela Merkel will get the peace prize. She is the one who really took moral leadership and who turned the debate on refugee issues in a European context entirely around."

Europe has faced a huge influx of refugees this year from Syria and other Middle Eastern and African nations. Germany is expected to take in as many as 800,000 refugees this year and Merkel has been one of the leading voices in Europe calling for a unified response to the crisis.

Business Insider