| 1875 western loan shark operation Original Source Link: (May no longer be active) http://en.wikipedia.org/wiki/Scramble_for_Africahttp://en.wikipedia.org/wiki/Scramble_for_Africa
Shortly before the completion of the Suez Canal in 1869, Ismail, the ruler of Egypt, borrowed enormous sums from French and English bankers at high rates of interest. By 1875, he was facing financial difficulties and was forced to sell his block of shares in the Suez Canal. The shares were snapped up by the prime minister of the United Kingdom, Benjamin Disraeli, who sought to give his country practical control in the management of this strategic waterway. When Ismail repudiated Egypt's foreign debt in 1879, Britain and France assumed joint financial control over the country, forcing the Egyptian ruler to abdicate. The Egyptian ruling classes did not relish foreign intervention. A serious revolt broke out in 1882. Britain decided to quell the revolt and then assume responsibility for the administration of the country.
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