The Royal Bank of Scotland has become the leading symbol of the U.K.'s banking crisis. RBS announced more big losses this week yet still found room to award its employees almost $2.5 billion in bonuses. That has sparked a good deal of outrage. The bank's rationale for the bonuses is similar to what many U.S. banks have said to justify big payouts.
Federal Reserve Chairman Ben Bernanke said today he is looking into whether Goldman Sachs and other Wall Street firms may have helped push Greece toward a ruinous level of debt through the use of credit default swaps. For more, Martin Savidge speaks with Roben Farzad, a senior writer for Bloomberg BusinessWeek.
Our Worldfocus series Indigenous Cultures continues with a look at the Khanty people, who live inside the Arctic Circle in Russian Siberia. We chose this story because it illustrates how the drive toward what is often called "progress" can threaten a traditional culture. Jonah Hull of Al Jazeera English reports on the Khanty people of northern Siberia.
Greece is continuing its struggle against debt that is threatening the entire eurozone economy. U.S. and European stocks fell amid concern that Greece will not be able to meet its budget deficit targets. We offer a wrap-up of online commentary.
A wave of unrest is building across Europe, as governments there seek to impose austerity measures. Several European countries -- Greece, Spain and Ireland -- are deeply in debt and under intense pressure to slash spending. For more, Martin Savidge interviews John Authers, and Deutsche Welle reports from around Europe.
On Monday, the Turkish government arrested 51 high ranking military officers who were allegedly part of a plot to overthrow the democratically elected, Islamist-leaning government. Martin Savidge speaks with Dr. Ömer Taşpınar, the director of the Turkey Project at the Brookings Institution, for insight into the issue.
In Portugal, rescue teams continue to look for people still missing after severe flooding and landslides that killed at least 42 people over the weekend on the island of Madeira, where the government announced three days of mourning. Torrential rains destroyed buildings and took out bridges. Our German partner Deutsche Welle reports on the devastation.
During a recent upswing in drug violence in Mexican border towns, many critics of the drug war called for a change in U.S. policy toward marijuana use. Meanwhile, New Jersey just became the 14th U.S. state to allow marijuana for medical use. View our maps to compare current U.S. marijuana policy to laws in Europe and the rest of the world.
Google and Russian Railways have teamed up to provide a virtual tour of the world's longest continuous railroad. Worldfocus researcher Christine Kiernan explains how you can take one of the great train journeys of the world without leaving the comfort of your home.
The drone war in northwest Pakistan has brought attention to the attenuated al-Qaeda core that moved from Afghanistan in late 2001. But two events in December -- a failed Christmas Day bombing and an attack on CIA operatives in Afghanistan -- have led analysts to re-assess al-Qaeda's perceived decline. Worldfocus takes a look at the organization's evolution.