Establishing the Anglo-French Condominium in Egypt

Abstract

The article highlights the problems that Egypt had during the construction of the Suez Canal due to the financial enslavement of Egypt by the financiers of England and France and the imposition of bank loans and credits for which Egypt had a large financial debt. While the simple Egyptian people paid for such loans, the European bankers made huge profits. The construction of the Suez Canal, including the cost of shares, sanctions, opening costs and other expenses, cost Egypt 400 million francs. The article covers the actions of Khedive Ismail, the European financial hegemony over Egypt, and the establishment of a dual control over Egypt. “Bankruptcy and occupation” were the main result of the actions of the Europeans in Egypt, which had a strong effect on Egypt and all Egyptians. Keywords: Egypt, finance, England, France, Khedive, double control, financial debt, bankruptcy.