Egypt's Pyramid Sell-Off
Suggestions that the European Union should have control over Greece’s budget in order to curb its debt crisis have caused a fierce reaction from Athens. James Barker explores a parallel situation in 19th-century Egypt.
The latest headlines from Greece are a stark reminder that the ultimate price that an insolvent nation ends up paying is the loss of its sovereignty. One hundred and thirty-three years ago another country bordering the Mediterranean was staring bankruptcy in the face. The measures that its international creditors forced it to adopt prevented a complete financial meltdown but, as a result, its rulers lost control over their own affairs for decades to come.
To continue reading this article you need to purchase a subscription, available from only £5.
Start my trial subscription now
If you have already purchased access, or are a print & archive subscriber, please ensure you are logged in.
Please email digital@historytoday.com if you have any problems.