For those not so well informed on the Cuban Embargo pls read below and follow link!
“For those actually aware of Castro’s commercial record and the nature of the “Cuban embargo” a much better explanation for these “demands,” is that: “misery loves company.”To wit:
“Cuba stopped payment on all its foreign commercial and bilateral debt with non-socialist countries in 1986.” disclosed U.S. International Trade Commission Report in 2001.
“Debt talks between Cuba and the Paris Club of creditor nations are on hold. On the table was $3.8 billion of official debt to Paris Club members, part of a much larger debt Cuba ran up through the 1980s, until it began to DEFAULT on payments and then stopped talking with creditors.” Reuters, from back in June 2001.
And remember, back then Cuba was getting $5 billion a year from the Soviet sugar-daddy.
So what happened to that debt, you ask? Well, Fidel repudiated it too. “Soviet Union?” he frowns. “What Soviet Union?…Where is this Soviet Union?” No country by that name anymore, right? So how can I owe it any money?”
In late 2006 France’s version of the U.S. Government’s (i.e., us taxpayers) Export-Import Bank, named COFACE, cut off Cuba’s credit line. Mexico’s Bancomex did likewise. This came about because the Castro regime stuck it to French taxpayers for $175 million and to Mexican taxpayers for $365 million, when these state-run banks had financed sales by some those nations’ politically-connected companies’ to Stalinist Cuba. Bancomex was forced to impound Cuban assets in three different countries in an attempt to recoup its losses.
Early this year, one of the Cuban regime’s best friends, South Africa, was also compelled to bend over for the soap. Here’s part of the AFP story: “Given the assessment of Cuba’s debt position,” Said South African Minister, Themba Maseko, “we are of the view that Cuba was not in a position to meet its obligations in the foreseeable future.” Cuba stuck it to the Export Credit Insurance Corporation of South Africa (South African taxpayers) for $117 million, dating back to 1996.
Last year, one of the world’s most respected economic forecasting firms, the London-based Economist Intelligence Unit, ranked Cuba as virtually the world’s worst country business-wise. Only Iran and Angola ranked lower. This firm predicts that Cuba’s abysmal business climate will remain that way for the next 3 years, at the very least.
Dun & Bradstreet also rates Cuba among the world’s worst, right below Belarus. Moody’s rating is off the bottom of the chart as “very poor.” Standard & Poors refuses even to rate Cuba, regarding the economic figures released by the regime as utterly bogus.
Yet despite all the scribbling and gabble about the “U.S. embargo of Cuba,” or “Blockade” as termed by The Congressional Black Caucus and Castro lobbyists (but I repeat myself) the U.S-as I sit here and write–is Cuba’s biggest food supplier and fifth biggest import partner, and has been for the past five years. The U.S. has done over $2 billion dollars worth of business with Cuba the last few years-all for cash.”
http://www.americanthinker.com/2009/01/a_bailout_for_castro_too.html
