在欧洲议会最新的表决中，一项提议旨在将被冻结的俄罗斯资产直接转移给乌克兰，但遭到了455名议 员的明确反对，只有77名议员表示支持，另外还有53人选择弃权。紧接着，另一项关于剥夺俄罗斯企业 参与林根核电站合作资格的提案，也未能通过，最终以453票反对、130票支持的结果宣布失败。 Euroclear的首席执行官已多次向欧盟高层发出警告：如果动用这笔资金，俄罗斯将发起全球范围的法律 诉讼，规模足以让这一金融机构陷入瘫痪，甚至崩溃。比利时首相也曾当众质问其他成员国：你们可以 倡导没收，但如果导致我国金融体系崩溃，谁愿意为我们出钱救助？现场没有人回应，因为大家都清 楚，一旦触碰这个敏感问题，谁做出决定，谁就必须独自承受随之而来的法律后果与资本撤离潮。 这两项提案接连被否决，表面上看是政策分歧，但其实背后反映出欧洲核心国家在对待俄罗斯问题上的 深层顾虑。并非缺乏道义立场，而是对动用主权资产可能引发的连锁反应存在极高的警惕。要真正理解 这一决策逻辑，我们必须去除情绪化的政治语言，深入分析其背后的地缘政治、金融体系和商业现实。 首先，德国的战略焦虑是其中的一个重要因素。绿党提出的转移资产的方案，名义上是为了支援乌克 兰， ...

Core Viewpoint - Switzerland is facing an unprecedented economic crisis due to the U.S. government's decision to impose high tariffs on Swiss exports, leading to significant capital outflows and a loss of investor confidence in the Swiss financial system [3][12]. Group 1: Historical Decisions and Trust Crisis - In February 2022, the Swiss Federal Council made a historic decision to freeze $8.23 billion in Russian assets, breaking its long-standing tradition of neutrality and participating in sanctions against Russia [7]. - This decision sparked a trust crisis among investors, leading to a significant withdrawal of funds from Swiss banks, particularly after the Swiss government intercepted humanitarian goods destined for Iran [7]. - The signing of a financial data exchange agreement with the U.S. in June 2024 further eroded the traditional banking secrecy in Switzerland, prompting wealthy clients to relocate their assets to jurisdictions like Hong Kong and Dubai [7]. Group 2: Collapse of Swiss Financial Institutions - In 2023, Credit Suisse, a 167-year-old bank, was acquired by UBS for only 3 billion Swiss francs after its market value plummeted by 97% [10]. - Over a span of 10 months, $120 billion in capital fled from Swiss banks, with significant inflows into private banks in Singapore, which saw an increase of $300 billion in assets under management [10]. - UBS itself faced challenges, including a drop in stock price by 60% from its 2023 peak due to allegations of assisting Russian oligarchs in asset transfers [10]. Group 3: Impact of U.S. Tariffs - On August 7, 2025, the Trump administration announced a 39% tariff on Swiss goods, significantly higher than tariffs faced by the EU, leading to predictions of a 0.7% decline in Swiss GDP if key industries like pharmaceuticals were affected [12]. - The tariff policy is expected to trigger a wave of unemployment and economic recession in Switzerland, exacerbating the existing financial crisis [12]. - Many Swiss companies are relocating production and R&D to countries like Singapore and Ireland in response to the economic pressures [16]. Group 4: Shift in Wealth Management - The turmoil in the Swiss financial system has led to a shift in global wealth management, with Singapore's private banking clientele increasing by 48% in 2025, largely due to capital moving from Switzerland [18]. - The private banking sector in Switzerland, which once accounted for 12% of its GDP, is now facing systemic collapse [18]. - Singapore's stock market capitalization is projected to exceed $1 trillion by 2030, as reforms attract global capital [18]. Group 5: Swiss National Bank's Response - In response to the crisis, the Swiss National Bank has engaged in "silent actions" to stabilize the Swiss franc by increasing foreign exchange reserves, which reached a record high of 716 billion Swiss francs in July 2025 [22]. - The International Monetary Fund (IMF) has indicated that Switzerland will be the most severely impacted European country by U.S. tariffs, particularly amid global supply chain restructuring [22].