|To modernize Egypt, Nasser (the leader of Egypt) wanted to build the Aswan dam. To do this, he needed money. After ruining his chances with the states by dealing with communist countries, Nasser decided to nationalize the Suez Canal. Since it was probably the most important piece of land to Britain and France, they got together with Isreal and attacked Egypt. World reaction was very opposed to this and so was the American president, who demanded that the agressros pull out of Egypt immediately. They did and a cease fire along the Gaza strip was set up by Lester Pearson, a Canadian (yay!) who won the nobel peace prize for it.