Although he seems to be losing the battle to rule the Arab world, Egypt's Colonel Nasser last week won control of what is now undeniably his, the Suez Canal.
Great Britain, the most important of his enemies, gave in and accepted Nasser's terms and rates; Egypt, in return, let Britain pay its tolls in sterling. It was a settlement as useful to hard-pressed Egypt as to Britain, for much of the Egyptian economy is intertwined with Britain's. London still holds $300 million of blocked Egyptian funds. Some time, when they get to speaking to...
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