Fidel Castro steps down as president of Cuba

[Kree]

Fidel Castro steps down as president of Cuba

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LONDON (MarketWatch) -- Fidel Castro resigned as president of Cuba on Tuesday, with the ailing Communist leader stepping down after 49 years in power.
The 81-year-old Castro made the announcement in a statement to the Communist Party daily Granma, the Associated Press reported.
"I will not aspire nor accept -- I repeat I will not aspire or accept, the post of president of the Council of State and Commander in Chief,'' the statement read.
In practice, his 76-year-old brother Raul has been running the country since July 2006.
The National Assembly meets Sunday to pick the council of state, including the presidency.
There aren't many opportunities for Americans to invest in Cuba given the embargo around the Caribbean nation, though the Herzfield Caribbean Basin Fund.
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Will it change anything at all? What will this mean for Cuba?

[galraen]

So the Great Survivor, has officially retired, although in reality he hasn't been running the show for years now.

He did an awful lot of things I find objectionable, but did achieve some good, even if it was only overthrowing that evil [expletive deleted] Batista. There aren't many countries in the world that has such good healthcare as Cuba, but is that enough to outweigh the bad things that have happened? That I guess is for Cubans and history to decide.

Will the US now stop acting like a spoiled brat who's lost his candy? I wouldn't hold your breath, the US has had an indefensible attitude towards Cuba under a lot of different administrations, they are still likely to sulk until they get their own way, and can have their off-shore brothels and gambling casinos back.

[sinbad71]

I presume that no matter who takes over then it will still be a communist inspired country and leadership......

and maybe they might just get rid of those awaful 50's styled cars:laugh:

[galraen]

and maybe they might just get rid of those awful 50's styled cars:laugh:

Awful? They're collectors items, if the US drops its embargo they could become mega rich selling them to collectors in the US.

[sinbad71]

Awful? They're collectors items, if the US drops its embargo they could become mega rich selling them to collectors in the US.

your probably right galraen, but i still think they look awful

[Chimaera182]

Awful? They're collectors items, if the US drops its embargo they could become mega rich selling them to collectors in the US.

Of course, they're hardly in mint condition. Any buyer who'd invest in one would also have to look to the expense of overhauling and reparing such cars, and then those cars would likely lose all their value anyway.

[dragon wench]

No surprises there...

I was in Cuba a few years ago, it was an interesting experience. My impression was that the people would probably like something similar to a Scandinavian democracy...

[Maharlika]

Just like democracy, I don't see anything wrong with Communism as a form of government. The question boils down to how the people in charge would run it.

Is the brother any better than Fidel?

[Ashen]

Apparently the brother is better than Fidel, a bit softer, though this is only from what little I've read here and there. Though I did read that the US has no wish to change their attitude towards Cuba, Castro or no Castro. I don't think they'll be happy until they have a US friendly govt. in place there.

Personally I'd like Cuba to stick it out on their own, without the US influence, and then perhaps progress to some sort of government like we have here in E.

[Ode to a Grasshopper]

Bye Fidel.

I have to admire a man who was able to survive so long in the circumstances he was in (for whatever reasons). I doubt I'd last as long with an angry USA just across the ocean.