Let me see if I understand this...
- America and Britain refuse to fund the Aswan High Dam.
- Nasser throws a fit and nationalises the Suez Canal which was paid for by Britain and France (Britain purchased Egypt's shares in the canal)
- Nasser rejects about 20 proposals put forward to resolve the issue.
- Britain and France retake control of the canal via military action.
- Egypt turns over control of the canal zone to the UN.
Seems to me that Nasser was being a bit petulant and got bitten.
We are more often treacherous through weakness than through calculation. ~Francois De La Rochefoucauld