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While Egypt experienced difficulties in servicing of its debts, the European creditors would not allow the country time. In 1875, Ismail shelved payment of interest on loans which forced European creditors, Britain and France, to appoint two people to represent their interests through negotiating new agreements. Egypt continued to service the debts faithfully to an extent that 80% of the country's revenue went to servicing of national debt. The numerous difficulties for Egypt to service the national debt contributed to increased European intervention and subsequent occupation. As European creditors used this as a means of interfering with Egypt's affairs, the Egyptian government was angered, which resulted in more trouble with the European nations and the eventual British invasion of Egypt.
In conclusion, Egypt's bankruptcy and occupation is attributed to various factors, especially British imperialism in the 19th Century. The other factors that contributed to this incident include...
The European creditors took advantage of these factors to expand their interests and occupy Egypt.
Bibliography:
COUNTRY STUDIES, 'From Intervention to Occupation, 1876-82', Country Studies,
[web page] (n.d.) http://countrystudies.us/egypt/25.htm
GELVIN, J.L., the Modern Middle East -- a History, (Madison Avenue, New York: Oxford
University Press, Inc., 2011).
HISTORY WORLD, 'History of Egypt', History World, [web page] (n.d.)
http://www.historyworld.net/wrldhis/PlainTextHistories.asp?ParagraphID=mdw
JONES, J., 'Egypt and Europe in the 19th Century', WCU Courses Server, West Chester
University, [web page] (2013) http://courses.wcupa.edu/jones/his312/lectures/egypt.htm
OWEN, R., the Middle East in the World Economy, 1800-1914, (Fifth Avenue, New York: I.B.
Tauris, 1993).
Bibliography:
COUNTRY STUDIES, 'From Intervention to Occupation, 1876-82', Country Studies,
[web page] (n.d.) http://countrystudies.us/egypt/25.htm
GELVIN, J.L., the Modern Middle East -- a History, (Madison Avenue, New York: Oxford
University Press, Inc., 2011).
http://www.historyworld.net/wrldhis/PlainTextHistories.asp?ParagraphID=mdw
University, [web page] (2013) http://courses.wcupa.edu/jones/his312/lectures/egypt.htm
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