Word: suez
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Dates: during 1950-1959
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...Hotel, to replace the old one burned by antiforeign mobs back in 1952, was ready to open its doors again to foreign spenders. The Egyptian cost of living had momentarily ceased its steady climb; the stock market was active, and toll money from a once-again busy Suez Canal was pouring into the national treasury. A prospective purchase of $35 million worth of cotton by France gave a needed boost to the export balance. The government announced a budget surplus of nearly $55 million. And to top it all, the government's hand-picked candidates were easy winners...
...trade within and a common customs barrier against the outside world. The second treaty, by pooling nuclear-research and power facilities, held out the hope that Western Europe might one day be close to self-sufficient in energy (and thus, among other things, no longer vitally dependent on the Suez and Middle East...
Around the Cabinet table at No. 10 Downing Street, Britain's Harold Macmillan moved to soothe the ruffles raised in the family by the Suez adventure. As the private talks ranged from the Middle East to Russia to defense, one newsmaking proposal came from Canada's Diefenbaker. Having campaigned on a pledge to seek new markets for exports within the Commonwealth, he invited Commonwealth Finance Ministers to meet in Ottawa in September to map an agenda for a full-scale trade conference...
Even some Nuri supporters have lately complained that the time had come to relax the strict controls that Nuri imposed at the beginning of the Suez crisis. Shrewdly, Nuri had combined his vacation plans with an old maneuver-stepping down to produce an illusion of "change" when politicians began to grumble...
...Minister Harold Macmillan decided to call a conference of his fellow P.M.s throughout the Commonwealth, there seemed to be plenty for the family to talk about. Mother Britain's new defense cutbacks, its flirtation with the European Free Trade Area, and the economic and political aftermaths of the Suez incident (which threatened to break up the Commonwealth) were all family matters requiring friendly discussion. But when the time came to discuss them in London, half of the family were either too busy at home or feeling too unfriendly to bother...