jan 1, 1956 - Suez Crisis (1956)

Description:

French and British company dominated Suez Canal. Nasser, PM of Egypt, wanted to assert his country's independence and nationalised the canal. This angers BR and FR who secretly meet w/ Israel; Israel wants to stop tensions at the border of Egypt + recognition as a country from Egypt. They all attack Egypt but are condemned by UN, USA and USSR. USA sells their £'s and the value drops, USSR menaces the atomic bomb, UN demands ceasefire. Europeans withdraw and this leads to the decline of their power in the region + rise of USA and USSR presence. Nasser seen as hero for victory over West, Israel demonstrated its military power, encourages arab nationalism and anti-west sentiment, and USSR becomes Egypt's main ally.

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