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 fall back towards the Suez Canal, so at first Bar-Lev and his men met little resistance as they advanced across the northern Sinai. Hearing of the order to withdraw, General al-Abd and his men left Rafah on the morning of 1 November through a gap in the Israeli lines, and headed back towards the canal zone. Three hours later, the Israelis took Rafah. It was reported that after taking Rafah, Israeli troops killed 111 people, including 103 refugees, in Rafah's Palestinian refugee camp. The circumstances of the killings are disputed. Not until the Jeradi Pass in the northern Sinai did