Top Links 1141 Why not to take swap lines too far. Drivers of Germany's slowdown. The shortage of patriots and the question of the "ailing physician".

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Top Links 1141 Why not to take swap lines too far. Drivers of Germany's slowdown. The shortage of patriots and the question of the "ailing physician".

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Adam Tooze

Jun 23, 2026

The Missiles (1994-2004) by North Korean artist Pak Yong Chol Photo: Sigg Collection; © The artist

Taking geopolitically motivated US swap lines too far would harm the dollar and Fed independence

Adnan Mazarei(PIIE) and Maurice Obstfeld(PIIE)

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