Cpp + Python: static data dynamic initialization in *nix shared lib?

[Hrvoje Niksic]

"Alf P. Steinbach /Usenet" <alf.p.steinbach+usenet at gmail.com> writes:

> Also, things like the 'owned' option is just asking for trouble.

Isn't owned=true (or equivalent) a necessity when initializing from a
PyObject* returned by a function declared to return a "new reference"?

How does your API deal with the distinction between new and borrowed
references?