Suez barely dented Britain's GDP. But in early November 1956, dollar reserves fell by $279 million in a few days, and the US withheld IMF help until Britain agreed to withdraw. The crisis exposed Britain's real weakness: sterling.
By Eoin McLaughlin
buff.ly/7buwNqa
By Eoin McLaughlin
buff.ly/7buwNqa
www.economicsobservatory.com What was the economic significance of the 1956 Suez crisis? - Economics Observatory The Suez crisis was not the cause of Britain鈥檚 relative economic decline, but it exposed deep-seated weaknesses: the vulnerability of sterling; the constraints imposed by the balance of payments; and... 
