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Chairman Kaspar Villiger responds to disgruntled shareholders at the annual general meeting of UBS, Switzerland's largest bank, with the help of a giant video screen. Sat next to him is Oswald Grubel and Markus Diethelm. The Swiss banking industry holds an estimated 4,000 billion Swiss Francs (USD 4,240 billion) in assets, more than half of it foreign, including CHF 880 billion in undeclared European assets alone, benefiting from the country's famous banking secrecy laws.