Question

Explain the statement with reasons.

The Suez Canal was dominated by England.

Answer 1

England dominated the Suez Canal because:

1. However, later the expenditure for Suez Canal got so escalated that Egypt had to seek loans to meet it.
2. It became impossible to repay even the interest on the loans, so Egypt put up the shares of ‘The Suez Canal Company’ for sell.
3. England purchased a number of shares and thus gained part ownership of the company and the Suez Canal.