Word: suez
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...issues where there was less fear of bringing down the government, Wilson received jarring setbacks. By a wide margin, the party voted to withdraw British forces from east of Suez by 1970 and trim annual defense expenditures to $4.9 billion (v. $6 billion at present). The party also endorsed Frank Cousins' one-sided resolution to "bring all pressures" on the Johnson Administration to stop the fighting in Viet...
...East-of-Suez Factor...
Britain's economic sickness has a long history and many causes. British aid to underdeveloped nations and support for troops in Europe and east of Suez are so large-$1.7 billion a year-that eliminating them would have given Britain a rosy surplus in its balance of payments last year. This is the price Britain has chosen to pay to remain one of the world's major powers-a role that many critics argue she can no longer afford. Largely for the same status reasons, London upholds sterling as an international reserve currency financing 40% of world trade...
...years ago last week, Egypt's Gamal Abdel Nasser nationalized the Suez Canal and set the stage for the bloody Suez crisis that rocked the world in November 1956. Thereupon, Israel invaded the bleak, sand-blown Sinai Peninsula, ostensibly to destroy guerrilla bases operating against her borders. Then, speaking loftily of "separating the belligerents" and "protecting" the canal, Britain and France ordered Egypt to surrender its control to them; when Egypt refused, they began bombing Cairo and Port Said. In the end, amid the angry protests of the U.S.'s John Foster Dulles and a rattle of rockets...
...Suez-Size Sessions. By the time he got to Moscow, Wilson realized that he could no longer hold off another prompt round of emergency economic measures. Returning to London one morning last week, he called his ministers together for the longest Cabinet session since the Suez crisis. As they discussed measures, reports circulated that Britain's reserves in July alone had fallen by perhaps $1 billion, reducing reserves near a dangerously low $2 billion. Thus, it was in an atmosphere of extreme urgency that he went before a crowded House of Commons with his suggestions for a cure...