SNAPSHOTS

Cuba, EU: A Lifeline Across the Atlantic

Feb 1, 2018 | 20:13 GMT

(Stratfor)

With investment from the United States currently off the table, Cuba could find a friend in the European Union. On Feb. 1, Reuters reported that Brussels has offered to advise Havana as it attempts to unify its two currencies. Since the 1990s, Cuban citizens have used the Cuban peso for everyday purchases, while the convertible Cuban peso -- which is pegged to the U.S. dollar -- is used by tourists and to fund imports. Havana has long looked for ways to unify the two currencies without leading to price spikes or internal stability, but it has never begun implementing a plan to do so....

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