So the British and French governments secretly enlisted Israel to invade and annex Egypt's Sinai. British and French troops were to seize the Canal Zone in a supposed "peacekeeping mission," march on Cairo, and install a puppet government there. Israel would keep the entire Sinai Peninsula.
The infamous Suez invasion turned into a humiliating debacle for the bungling British and French; Nasser became a hero to the entire Third World. But Israel tenaciously hung on to Sinai, claiming it needed the peninsula "for security."
When US President Dwight Eisenhower learned of the UK-French-Israeli plan to grab the Suez Canal and march on Cairo, he was furious. Ike ordered the British and French out of Egypt under threat of collapsing their weak currencies. Eisenhower told Israel to get out of Sinai – or else. Israel got out.
This event is worth recalling as we today watch US President Barack Obama and his hapless Secretary of State John Kerry plead with Israel to stop massacring Palestinians in Gaza.