Economic history of the United Kingdom once the territories gained independence and were free to negotiate their own trade agreements. Although the '50s were overall a time of great prosperity for Britain, the Suez Crisis of November 1956 precipitated a financial crisis and a run on Sterling which underlined how fragile post-war British finances were. The tripartite invasion of the Suez Canal Zone by Britain, France and Israel following Egypt's nationalization of the canal (before then majority owned by the British government) was a disaster for British prestige and the economy. The United States and the United Nations came out firmly against the occupation, which caused
Suez Crisis 1965 Eisenhower told Jewish fundraiser and Republican party supporter Max M. Fisher that he greatly regretted forcing Israel to withdraw from the Sinai peninsula; Vice-President Nixon recalled that Eisenhower expressed the same view to him on several occasions. Lester B. Pearson, who would later become the Prime Minister of Canada, was awarded the Nobel Peace Prize in 1957 for his efforts in creating a mandate for a United Nations Peacekeeping Force, and he is considered the father of the modern concept of peacekeeping. The Suez Crisis contributed to the adoption of a new national flag of Canada in 1965, as