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Following the Thirty Years' War, which resulted in devastating casualties, the spoils of territory were divided among the victors. This led to spirited discussions about debt responsibility. It was argued that because debts were secured by physical assets—land and resources—they should follow those assets to their new owners. France, upon annexing the region of Alsace, accepted this logic and took responsibility for its debts. Conversely, Sweden contended that it held merely a fief, thereby avoiding debt obligations.