Get started now on your loan application!

In the news...

Cuban Revolt was unsuccessful miserably affirms Castro

The worldwide financial crisis wasn’t helped at all with the Cuban Revolt. Cuba is already in a state of economic and social disaster meaning the announcement to by March 2011 lay off half a million state workers by the government really upset some individuals. Cuba’s seismic economic shift comes about a week after Fidel Castro told Atlantic reporter Jeffery Goldberg the “Cuban model” doesn’t work anymore. Numerous think just letting go government workers won’t solve Cuba’s, as the last communist system left in the world, issues.

Workers feel abandoned by Cuban communist party

The Cuban government has made a plan it intends to keep. In this plan, more than half a million public sector workers can be out of a job. The hope is that more private businesses will pick up the workers in order to help the economy grow better. Cuba isn’t prepared with its government to deal with the changes brought on by the global financial crisis, states the NY Times. It is also recovering from the 2008 hurricanes that came via still. . Cuban Workers’ Central said that it is true the economy is terrible which is why the changes have to happen as soon as possible in a statement on Monday.

Good luck, slackers

The majority of the individuals fired in the Cuban layoffs can be those considered unproductive, overpaid and undisciplined workers. The Associated Press reports this with an internal Cuban Communist Party document. Workers at Cuba’s ministries of sugar, public health, tourism and agriculture will be the first to go. The Cuban Workers’ Central hopes all fired workers will form their own private corporations. All foreign-run businesses and joint ventures will probably be run out by the government to help. The document lists the main challenges for laid off Cubans forced to make it on their own as little experience, low skill levels and a lack of initiative.

Cuba kids itself

Cuban experts are skeptical about the private sector’s ability to absorb fired government workers. The Wall Street Journal talked to director of the Institute for Cuban Studies at University of Miami, Jaime Suchlicki, who said that there could be nowhere else for fired workers to go. “They probably will not be absorbed by the private sector because there is no private sector to absorb them,” he said. Other experts say Cubans who want to start a business face high taxes, lack of credit and foreign exchange, bans on advertising and burdensome government regulations. The government acknowledged this and made a list of “authorized” employment which includes carpenter, piƱata salesman, music teacher and toy repairman.

Find more info on this subject

New York Times

nytimes.com/2010/09/14/world/americas/14cuba.html?_r=1 and hp

Associated Press

google.com/hostednews/ap/article/ALeqM5ipe0no99xWr_oUrAP-q6PnKLj8XgD9I7O0BO0

Wall Street Journal

online.wsj.com/article/SB10001424052748704190704575489932181245938.html?mod=WSJ_hpp_LEFTTopStories

« »

Comments are closed.