jancancook
Posts : 159 Join date : 2011-02-23
| Subject: In 1869 the Suez Canal was opened under Napoleon III, Wed Nov 09, 2011 6:19 am | |
| In 1869 the Suez Canal was opened under Napoleon III, linking the Mediterranean with the Indian Ocean. The Canal was at first opposed by the British,[105] but once open its strategic value was quickly recognised. In 1875, the Conservative government of Benjamin Disraeli bought the indebted Egyptian ruler Ismail Pasha's 44 percent shareholding in the Suez Canal for £4 million (£280 million in 2011). Although this did not grant outright control of the strategic waterway, it did give Britain leverage. Joint Anglo-French financial control over Egypt ended in outright British occupation in 1882.[106] The French were still majority shareholders and attempted to weaken the British position,[107] but a compromise was reached with the 1888 Convention of Constantinople, which made the Canal officially neutral territory.[108] caravan awningstoronot stone veneers | |
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