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The major significance of this speech was just that it set the tone for the Cold War. It was not a statement of any sort of policy, but it was a statement that set out the basic attitude that the West would have with regard to the Soviet Union and communism. In this speech, Churchill described the Eastern bloc as a region that was essentially being held prisoner behind the "iron curtain." By characterizing it in this way, he helped to give Americans and other Westerners the idea that they needed to resist communism so as to avoid being imprisoned in that way.
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