We have a correction to the below information, Omar Torrijos was NOT a President of Panama he was a Commander of the Panamanian and National Guard and the de facto leader of Panama from 1968 to 1981.
Thanks goes out to one of our blog readers...
The treaty to turn the full operation over to Panama was signed by President Jimmy Carter and President Omar Torrijos in 1977. The treaty relinquished control by the US to Panama on Dec 31st 1999. As with anything in life there are many opinions on this treaty, many say it made sense as the canal is on Panama soil and belongs to them. Others say, wait a minute, the US poured blood, sweat, tears, and money into the building and operation of the canal, so why just give it back. And somewhere in between many believe it should still be a joint operation and both countries sharing in the billions of dollars that it takes in annually.
No matter what side you fall on the debate, the canal now belongs solely to Panama and it has helped this country soar financially, and it seems once again America gave up billions in annual revenue, but who needs that money anyways?
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