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 the Suez crisis, which he saw as his own personal triumph, was that the use of nuclear blackmail was a very effective tool for achieving Soviet foreign policy goals. Therefore, a long period of crises began, starting with the Berlin crisis of 1958 and culminating in the Cuban Missile Crisis of 1962. U.S. Secretary of State John Foster Dulles perceived a power vacuum in the Middle East, and he thought the United States should fill it. His policies, which ultimately led to the Eisenhower Doctrine, were based on the assumption that Nasser and other Arab leaders shared America's of the