Originally Posted by chadburn
Barring for their interference in the Suez debacle we have a lot to thank the Americans for in my view.
consisted in the US not giving their support, something which Eden and MacMillan (stupidly some say) just assumed they would get from Eisenhower once the operation had started. On their own (with France and Israel) Britain had not the financial clout for such an adventure.
Even before the Suez incursion British reserves were below what could be considered safe. The Eden government knew that for the Pound-Dollar rate, and the cohesion of the Sterling area, to hold, they would need help from the IMF, and there the Americans held all the cards.