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YESTERDAY SAW PRESIDENT Barack Obama announce that full diplomatic relations between the United States and Cuba are set to be restored.
This will mean a number of shifts in the way the two countries interact with each other and an opening of the channels of dialogue.
But exactly what changes will be implemented? And why has this come now after all the years of stand off?
Things have been pretty frosty between the two nations for the best part of fifty years now.
You may recognise these two handsome fellas…
That’s Ernesto ‘Che’ Guevara and former President of Cuba Fidel Castro. They were part of an insurgency group that traveled to Cuba from Mexico as part of the ’26th of July Movement’.
The group took power from US backed dictator Fulgencio Batista in a revolutionary insurgency in 1959.
Initially declaring themselves only as Cuban nationalists, there was a brief back and forth over whether the new group would declare allegiance to the West or to Communism – in which time Castro visited the United States and met the then Vice-President Richard Nixon.
The group eventually made clear their alliance with the Soviet Union.
This was followed by the United States placing an economic embargo on Cuba in October 1960, followed a year later by the severing of diplomatic relations.
During this time the economic restrictions placed on Cuba by the embargo have ensured that people within the country have endured impoverished conditions – depending on the Soviet Union for aid during most of their existence.
Despite this, the position the Communist Party of Cuba – the only political party allowed to govern – has remained solid.
Fidel Castro, and since 2011 his brother Raúl Castro, have managed to avoid serious internal opposition – with the hard conditions within the State blamed on the actions of the United States.
While there has been a number of ups and downs in the relationship between the two countries – including the failed Bay of Pigs operation in 1961 and the 13-day Cuban Missile Crisis – for better or worse, economic and diplomatic interaction has remained frozen for the last fifty three years.
The new announcement by the US President yesterday will now see the restoration of full diplomatic relations between the two countries marked with the opening of a US embassy in Havana for the first time in more than fifty years.
In his speech, Obama stated that the move is, “the most significant change in our policy in fifty years, we will end an outdated approach”.
The agreement is the outcome of secret negotiations that have been taking place over the past 18 months that have involved phone calls between Raúl Castro and Barack Obama – which have been brokered in part by Pope Francis.
While the changes are significant, further action would be required by the US Congress for restrictions to be fully lifted.
There will now be wider terms of travel between the two countries – which will see those with certain reasons for visiting either country given dispensation to do so.
Where the most change will be seen is in the financial relationship between the two countries. US citizens will now be able to open accounts in Cuban financial institutions and use their credit and debit cards while in Cuba.
The amount of money that Cubans living in the US are able to send back to their families at home will be raised from $500 a quarter to $2,000.
Most symbolically perhaps – US citizens will now be able to import $400 of goods back into the US, including $100 worth of tobacco product – meaning US citizens can look forward to getting their hands on Cuban cigars legally.
The status of Cuba as a state sponsor of terrorism will now also be reviewed by Secretary of State John Kerry.
The heart of what has happened between the US and Cuba has been a historical political prisoner swap deal.
Alan Gross is a 65-year-old aid worker who was jailed by Cuba in 2009 on suspicion of conspiring to undermine the Cuban government. This was due to Gross’s illegally smuggling equipment into the country with the intention of expanding internet access for Cubans.
During his time in Cuban prison Gross was said to have experienced serious weight loss and health issues.
In exchange for Gross’s release, Gerardo Hernández, Antonio Guerrero, and Ramón Labañino were released by the United States. The three men had been Cuban agents part of a group known as the ‘Cuban 5′ who had been imprisoned for spying on anti-Castro activists in Miami.
In the United States the Cuban community are a very important lobbying interest – who sit alongside the pro-Israeli lobby and the National Rifle Association in their influence over legislation.
The Cuban lobby are seen to hold a large amount of sway in the US state of Florida – which has traditionally been a crucial swing state in the US Presidential elections.
With an election coming up next year, the shift in approach has not been welcomed by the members of this group. The Cuban-American lobby is, generally speaking, strongly opposed to support of the Castro regime.
Obama is gambling that this influence will not be felt as strongly next year due to a shift in attitudes among younger Cuban-Americans – who are more open to dialogue between the two countries.
The deal is also extremely important for the Cubans in Cuba – as they will now be able to look forward to greater freedom of movement.
The Castro regime has long been criticised for its poor human rights record and lack of free press. Citizens on the Island will now be afforded greater access to the internet, as well as UN and Red Cross officials being allowed to return to the territory.
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No mention of the crazy high variable rates they are charging their mortgage holders
Meanwhile, we wait with bated breath to find out who IS entitled to investigate tax evasion by the great and the good. You couldn’t make it up.
This bank has seen more English bankers moved across the sea than former I.R.A men across the border .
It seems to me “banksters” practice relocation as much as any other secretive organisations – let’s hope it’s not for the same reason !
Stealing from the poor with crazy interest rates.
Poor people don’t buy houses.
Might we expect a pension?
P T S B the Bank appointed by this Government to take over the running of the former Credit Union in NEWBRIDGE Co. Kildare. A town now without a Credit Union and whose residents are about to lose possession of the building they paid for to the D S P. Without a cent being reimbursed to the members of the former Credit Union, and still no answers from its last Board of Directors.
If they wanted to keep their credit union the members should have run it better.
Reinhart and Rogoff must have moved into accountancy since the Herndon collision !
Nice to see they may have got a job of Mr. British Cabinet adviser – if they did that is !
Why are’nt the board of TSB in jail, did they not have money planted in Anglo’s accounts to make the Bank look solvent????
I am aware of a person who had a deposit if €150,000 with TSB with a fixed rate of 2% for 15 months.
The same person had an opportunity to buy an apartment for €65,000 with a rent of €7,200 PA.
TSB were asked for a loan of €65,000 secured by the deposit of €150,000 and they quoted a rate of interest of 7.5% for the loan a surplus of 5.5% over the cost of funds.
This is usury!
Does the Central Bank of Ireland have any control over Banks or is it all a joke?
Just don’t take my free banking!!
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