The issue could not have been simpler. Egypt had been bankrupted by interest payments on loans incurred to fund an over-ambitious programme of infrastructure projects. To sustain the flow of payments to British and French bankers, it had been placed under ‘dual control’ by colonial administrators. The Khedive of Egypt, nominally a subject of the Ottoman Sultan, had become a vassal of Anglo-French finance-capital. In effect, the Egyptian peasantry – the fellahin – was being fleeced to pay the bondholders of London and Paris.
In 1881, the country had exploded into revolution. A group of radical army officers, backed by the military rank-and-file and the mass of the Egyptian people,
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