CUBA: All-American Grab

Fidel Castro last week announced the "forcible expropriation" of $700 million worth of the total $1 billion U.S. investment in Cuba. The effect was to complete the seizure of U.S. property that, until now, the Castroites had only "intervened" in (meaning taken over to operate). The only U.S. property presumably left untouched were banks, some small firms, and two nickel plants.

As a dramatic stage for his announcement, an ailing Fidel Castro used the final meeting of the First Latin American Youth Congress at the Havana baseball stadium. From the moment he slowly climbed the steps to the speakers' platform in...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!