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Though not all country codes point to a country. See .eu, .ac .su as different examples of stuff that breaks the rules.
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the .su domain was made when the soviet union was still around, so that doesn't really break the rules. I would prefer for top level domains to be eternal for a great multitude of reasons
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The possible annoyance with eternal country-code TLDs would be the dissolution of one country, and the creation (or renaming) of another country resulting in an eventual exhaustion of two-letter country codes. Eternity is a rather long duration.
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