瑞士小记者 未来可期——写在即将返校前夕
瑞士小记者 未来可期——写在即将返校前夕 本篇文章由艾格隆在读生Year 10的Fiona供稿，讲述了疫情期间居家学习的感受，以及学校为了安全地开学而采取的一系列相关政策。Fiona同学即将于9月份学校开学时返校上课，让我们预祝她平安返校，新学期一切顺利！ 1. 共克时艰 庚子年初，世界受到了疫情席卷而来的狂风暴雨，关于新冠肺炎的报道开始随着初雪坠落人间，突如其来的病毒迅速以各种各样的方式冲淡了我们的年味。2020年仿佛从此蒙上了阴霾。学生们只能以网课的方式学习，在外奔波赚钱的人们被迫居家等待疫情平息，小生意小买卖因扛不住无限亏损而倒闭，大公司大牌子也因此关闭了不少家分店…那是一场以世界为单位的战场。 2. 重现曙光 经过长达九个月的对抗，疫情终于有所好转，不单是中国，远在中欧的瑞士也在短时间内有效地解决了严峻的疫情状况。原以为在今年都无法返校的我，却可以在今年九月初踏上返航瑞士的飞机，这一定是年初离校的我没有想到的。 3. 期待返校 五六个月没有上学，单单在家上网课，对学校的眷恋也变得更加强烈；没了一起学习的同学，本土的英语交流环境，面对面教学的老师们，和学校自带的学习氛围…连读书都缺少了动力。时隔半年，终于可以回到学校，我想连厌学的人都会被唤醒上学的欲望吧？至少可以抛下日日居家隔离的生活，回归正常的学生生活，也因此认可了我们的世界已然痊愈了一半。唯一的担忧无非还是在万全的防护下依旧可能受到感染，但好在学校落实了许多解决方案，这里我就和大家分享一下我所了解的学校为了安全开学而采取的各项措施。 4. 学校给予的保障 自疫情开始，我就读的学校Aiglon College就频繁发送邮件来提醒疫情间的注意事项，特别是对于中国的学生，给予了多次问候和关照。首先是奔赴瑞士后的隔离措施。虽说瑞士十分及时地抑制了急速扩散的病毒，但作为拥有来着52个不同国家学生的国际化高中，外来学生携带病毒的概率是非常高的，这也是学校最难开学的原因之一。好在学校提前告知了这一点，并用合理方法划分了来自不同国家的学生：以世界卫生组织分划的高危国家和正常国家，来指定学生提前到校进行隔离或按时检疫。意外的是，学校会提供免费隔离住处，并自建了检疫站，使同学们返校放心，家长们安心。在疫情这样的特殊时期，外国学生也有了特殊关照。平时从中国一人前往瑞士都需要坐高铁一路转站再乘坐巴士上山，辗转奔波要在人多的公共场所待很久；考虑到这些时，原先计划是花费比乘坐公车多五六倍的车费打的从机场前往学校，却听闻学校安排了免费大巴，从机场开往学校，这一下解决了很多一路波折的麻烦。的确，来自各国的同学们也比公共交通工具上的陌生人更安全，更有迹可循。为了保证校内安全与卫生，学校只好暂停日用品店与练琴室的营业。本应是一件很麻烦的事，好在学校提供了文具和练琴室的预定网站，比起回校后到店购买，到校安排，网上预定反而更加方便。 5. 结尾 这样的安排解决了我对学校多人聚集地所产生的卫生问题的担忧，虽说以后在学校生活的日子会更依赖于线上，从而避免人与人的接触，但也只有这样，学校才能按时开学。这样的解决方法，一定是校委会经过深度讨论得出的，在我眼中，它也是最好的。这也是我越来越喜欢这个学校，和相信最初出国是个正确选择的原因吧。 Original English Texts In the beginning of the year, the world was hit by a raging storm caused by the corona virus. Reports and news about COVID-19 began to rush into peoples life with the first snow of 2020. 2020 seems to have clouded over ever since. Students can only learn online; employees were forced to stay at home to wait for the virus to subside; small businesses closed down because they could not carry unlimited losses , big companies and brands also closed many branches and outlets... Its a battlefield in terms of the world.Not only China but also Switzerland have
effectively solved the severe situation in short term. I thought that I
could not go back to school this year, but in fact I could set off to
Switzerland in September this year. This is be something I did not
expect when I left school at the beginning of this year. After being absent from school for about six months, my attachment to school becomes more intense when I only take online classes at home. No classmates to study with, local English communication environment to stay in, face-to-face teaching teachers, and the learning atmosphere brought by the school... Even reading lack of motivation. After half a year, I can finally go back to school. At the very least, we can get rid off our daily home quarantine and return to a normal student life, thus acknowledging that our world is half healed. My only worry is the possibility of being infected even protective measures have been well taken. Fortunately, the school has put a lot of solutions in place, which I would like to share with you based on what I have learnt Since the beginning of the corona virus pandemic, my school, Aiglon College, has frequently sent emails to remind us of the precautions during the outbreak. In particular, it has given many greetings and care to Chinese students.Firstly, quarantine measures are taken
after the students’ journey to Switzerland. Although Switzerland was
quick to control the viruss rapid spread, as a global high school with
students from 52 different countries, the risk of foreign students
carrying the virus is very high, which is one of the reasons why it is
difficult for schools to reopen. Fortunately, the school informed this
in advance and divided the students from different countries in a
reasonable way: high-risk countries and normal countries classified by
the World Health Organization were designated to arrive early for
quarantine or inspection. Surprisingly, the school will provide free
quarantine accommodation, and set up its own quarantine station, so thatstudents can go back to school and parents can rest assured. In such a special period, Aiglon also will give foreign students special care. Usually, travelling alone from China to Switzerland needs to take a train all the way to the bus station and take a bus up to the mountain top, which have to stay in crowds for a long time; With this in mind, the original plan was to take a taxi from the airport to the school, which cost five or six times more than the bus. However, I heard that the school arranged a free bus from the airport to the school, which solved a lot of trouble along the way. Indeed, students from different countries are also safer and more traceable than strangers on public transports. In order to ensure the schools safety, the school have to suspend the business of school shops and piano practice rooms. It should have been a very troublesome thing, but fortunately, the school has provided a booking website for stationery and piano practice room, which is more convenient to book online than to purchase in the store after returning to school.This arrangement solves my concern about
the health problems caused by the school gathering. Although I will relymore on the Internet to avoid touching and contact during my school
life. Only in this way can make the school start on time. Such a
solution must be the decision made by the school management committee
after in-depth discussion. In my opinion, it is also the best solution
they could give. This is also the reason why I like this school more andbelieve that going abroad is the right choice in the first place. 该文章转载自雷梭勒家族办公室，如有侵权，敬请告知删除。 Sooswiss为您提供 瑞士方向私人管家式的定制服务： 1）家族传承 2）财富管理 3）瑞士投资 4）居留计划 5）税务优化 6）家族治理 更多资讯请登录网站 www.sooswiss.com
Future is Now《传承宝典》37——贷款机构是否会帮助企业渡过危机？
Future is Now《传承宝典》37——贷款机构是否会帮助企业渡过危机？ 导读： Stonehage Fleming英国区家族办公室与咨询部总监Simon Boadle就疫情过后的贷款问题采访了Tatsu Partners创始人Mike Barnes。当人们渡过目前危机，企业重新启动，贷款方与借款方将会面临怎样的挑战？本文内容由雷梭勒家族办公室编译整理，版权归原作者所有。 Q1：现在很多国家的经济大幅衰退，您认为这会对借贷市场造成怎样的影响？ MB：不论从规模、受众还是时长来看，此次影响史无前例，几乎波及到所有产业。但是，以我过去31年金融服务从业经历来看，从未遇到过银行停止放贷的情况。 Q2：尽管此次衰退的起因很特殊，但是是否能将此次事件与2008年金融危机相比呢？ MB：2008年时，客户就想知道银行是否有过停发贷款的情况。答案显然是“没有”。银行只是更加严格筛选贷款流入的领域，更加谨慎地使用杠杆，足够优秀的公司仍然可以融资。今年的情况是，近年来的调整让贷款机构提供的投资组合结构更加合理。新冠疫情不是某个人的错，银行也清楚这一点，如果公司在疫情来临前表现良好，在渡过疫情难关后依旧会得到所需的支持。 Q3：现在还没有太多关于“资不抵债”的讨论，是因为时候未到吗？ MB：有的公司在新冠疫情前就已经摇摇欲坠，而零售业、泛款待业、旅游业等行业的举步维艰则是受到疫情的影响。现在还不能判断哪些企业在疫情过后值得救助，哪些公司的贷款机构应该收取抵押。疫情之后，有的公司会很快恢复，而有的公司就需要花点时间了。恢复较慢的公司可能会面临不太稳定的金融债务情况，需要重构资产负债表进行优化调整。 Q4：简单快捷的政府支持性贷款是否对企业有所帮助？ MB：政府已经推出了一系列支持性措施。新冠疫情导致商业中断贷款项目（CBILS）已经有效帮助了缺少现金流的企业。对于私募股权所有公司来说，最有效的方式是给予员工无薪休假，避免大规模失业情况的发生。 Q5：您观察到银行与非银行贷款机构的行为有何不同？ MB：非银行机构往往是向私募公司提供短期/长期贷款，支持买卖公司。银行则是向公司提供经营资金、循环信贷、透支额度等。所有贷款机构都会面临挑战，银行的借款方更多，因此出现问题几率更大。银行确实在提供支持性贷款资金，但是主要是迫于政府压力，谁也不想看到公司倒闭的局面。 Q6：目前市场中借款方需要注意什么？ MB：不要害怕金融契约。经济停滞后，很多公司担心收入下滑会影响履行金融契约，害怕违反契约后引发一系列违约、贷款机构有权收取抵押等问题。 但是，贷款机构往往不会这样做。当出现问题时，他们希望能够有权出席，一同探讨应对方案，而不是将违反契约视作“没收房屋钥匙”的权力。 Q7：银行与非银行贷款机构是否会向市场发行新债？ MB：现在形势正在逐步缓和。银行目前还在忙着解决眼前的危机，但是已有迹象表明贷款资金已经准备好投向市场。此轮会有少许不同，贷款机构会更谨慎地评估信用，会采用多种敏感性分析，评估新的债务结构在3个月没有交易的情况下，是否还能维持下去。我们还在观望疫情对经济是否有更广泛的影响，这一阶段银行会提供低杠杆贷款。 Q8：2020年疫情之后，贷款机构市场格局会有怎样的变化？ MB：贷款机构要做的事情还有很多，在国家边境封锁时期，贷款机构帮助企业渡过了难关，接下来就是帮助他们重振旗鼓。银行非常希望商业能尽快恢复，也始终在支持企业发展。只有在企业存活下来之后，银行和其他贷款机构才会考虑盈利的问题—这也符合贷款机构的价值观：帮助有持续发展能力的企业继续经营下去。 Original English Texts Will lenders support businesses through the crisis？ Simon Boadle, Head of Family Office & Advisory UK at Stonehage Fleming spoke to Mike Barnes, founder of Tatsu Partners about dealing with debt during and post COVID. As we pass the immediate crisis and businesses start to reopen, what are the challenges that lie ahead for lenders and borrowers? SB: There has been a sharp economic downturn across many countries. How would you summarise the impact on borrowers and the debt market? MB: It has been completely unprecedented in terms of scale, reach and duration. It’s hard to think of any industry that has been untouched. That said, in my 31 years in financial services, I have never seen a situation before where banks have stopped lending. SB: Although different in its cause, can you draw comparisons to the global financial crisis of 2008? MB: In 2008, clients wanted to know if banks had stopped lending. The answer was categorically ‘no’. They became more selective about which sectors they lent to and more disciplined in their application of leverage multiples but good companies were still capable of raising money. This time, lenders’ portfolios are in better shape, because of the discipline that has been shown in recent years. Coronavirus is no one’s fault and banks have generally taken the view that if a company was performing well before the pandemic, they should be given the support they need to come out the other side. SB: There has been little talk of insolvencies - is it too early for that to have happened? MB: There are companies who were struggling before coronavirus. Then there are sectors struggling as a result of coronavirus such as retail, hospitality and travel. It is unclear what a business might be worth post lockdown and therefore what proceeds a lender would realise if they were to enforce security. Some companies will bounce back quickly and others will take longer to recover. Those slower recoveries could face an unsustainable stack of financial liability leading to a need for greater balance sheet restructuring. SB: Has the swift provision of government-backed loans made a significant difference to businesses? MB: The government has taken a lot of supportive action. The Coronavirus Business Interruption Loan Scheme (CBILS) has been particularly helpful for businesses in need of liquidity. For private equity owned companies, the most useful initiative has been the ability to furlough employees, avoiding widespread unemployment. SB: What differences in behaviour have you seen between bank and non-bank lenders? MB: The non-bank community principally provides term debt to private equity borrowers who are buying and selling companies. Banks provide the working capital, revolving credit facilities and overdrafts. While every debt provider has challenges, banks have a larger number of borrowers and therefore a greater weight of problems. Debt funds have been supportive, but the banks are under more government pressure to be supportive. Neither wants companies to fail. SB: What are the key messages for borrowers in the current market? MB: Don’t be afraid of financial covenants. When lockdown first began, many companies were worried about the impact a slowdown of earnings would have on their financial covenants. They feared a breach would trigger events of default and give lenders the right to enforce security. That, however, is not typically how lenders behave. They want the right to come to the table if there is a problem and talk about how to respond. They’re not using covenants breaches as a right to ‘take the keys’. SB: Is new debt available in the market from banks or non-bank lenders? MB: The situation is easing. Banks have been preoccupied with solving immediate crises but debt funds are showing signs of being ready to do new business. There will be some changes. Lenders will take longer to take credit decisions. They will undertake different sensitivity analysis, to evaluate whether a new debt structure would sustain a three-month trading hiatus. They will also offer lower leverage multiples while we wait to see the wider impact of coronavirus on the economy. SB: Looking beyond 2020, how will the landscape develop for lenders? MB: There is still a huge amount of work to do. Lenders have supported companies in getting through lockdown but the next phase is helping them reopen. The banks are keen to start doing business again and have been supportive to date. Banks and other lenders will only make money if companies survive – it is in their interest to give sustainable businesses the support they need to keep operating. 该文章转载自雷梭勒家族办公室，如有侵权，敬请告知删除。 Sooswiss为您提供 瑞士方向私人管家式的定制服务： 1）家族传承 2）财富管理 3）瑞士投资 4）居留计划 5）税务优化 6）家族治理 更多资讯请登录网站 www.sooswiss.com
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