Gamal Abdel Nasser on the Nationalization of the Suez Canal


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The audience for the act nationalizing the Suez Canal was first the stockholders of the Universal Company of the Suez Maritime Canal, that is, the owners of the canal. The act simply and directly informed them that Egypt was taking over control of the canal and that they would be reimbursed for their shares. A second audience was the Egyptian people. This act was a bold move that buttressed Nasser's support among Egyptians, many of whom had been resisting European influence in their...