The 1956 Suez Crisis - The Death of European Colonialism

I'm sure that many academics of Post-Colonial Studies refuse to admit it (as European colonial crime and guilt is eternal) but the 1956 Suez Crisis was the end for traditional European colonialism. When Nasser nationalized the Suez Canal, with no reparations to the British and French owners, the ensuing military collusion by the strange troika of Britain, France and Israel was halted by fiat from on high, to wit President Eisnehower's demand for an unconditional withdrawal. He insisted the "allies" rely on diplomacy and the United Nations to resolve the canal's nationalization which meant they could do nothing. To ensure their compliance he refused to provide American oil to Europe to replace lost Middle Eastern supplies thereby crippling their logisticsand threatened to liquidate the U.S. government's sterling bond holdings and block Britain from receiving crucial International Monetary Fund (IMF) loans. Egypt did pay some compensation to the owners in 1958 as $280 million Egptian assets were frozen until he did.

However, the Suez Crisis had no effect on Russian colonialism. The Greatest Ukrainian of them all, Nikita Khrushchev, sent Russian tanks into Budapest on a goodwill mission to teach the grateful Hungarians true Sovet democracy. The Hungarians were soon re-educated.

I remember my father being overjoyed that Eisenhower had put his foot down on those Colonialists. He didn't feel that way about the Russian invasion of Hungary though. I was six years old and happy and proud that my Dad was discussing politics with me at the kitchen table.