Čć! (-!+ēŊ Äž ĹŠ } Ä?
8ĹŠ,;2ĹŠ "#ĹŠ,(+ĹŠ ,4#13.2ĹŠ
4-%41 '4
: ĹŠĹŠÄˆÄ‰ĹŠ ĹŠ ĹŠ ĹŠÄ‰Ä‡ÄˆÄˆ
;2Ŋ"#Ŋ!(#-Ŋ,(+Ŋ'#1(".2Ŋ8Ŋ4- Ŋ !($1 Ŋ(-"#2!1(/3( +#Ŋ"#Ŋ"#2 / Ĺ 1#!(".2Ŋ"#) 1.-Ŋ4-Ŋ3#11#,.3.Ŋ8Ŋ 324- ,(Ŋ#-Ŋ /¢-ēŊ +#13 Ŋ3.3 +Ŋ#-Ŋ
3(-. ,_1(! ēŊ ;%(- Ŋ đĹĒ
§
§
.2/(3 +ĹŠ!.-ĹŠ #ÄƒĹŠ!(#-!( 2
,/+# ".2ĹŠ #2/#1 -ĹŠ242ĹŠ 43(+(" "#2
+Ŋ;1# Ŋ"#Ŋ-#.- 3.+.%~ Ŋ"#+Ŋ .2/(3 +Ŋ .!#-3#Ŋ , 3.Ŋ$4#Ŋ24/#15(2 ".Ŋ /.1Ŋ$4-!(.- 1(.2Ŋ"#Ŋ+ Ŋ #$#-2.1~ Ŋ"#+Ŋ 4# +.Ŋ"#Ŋ 4-%41 '4 ēŊŊŊ
.2ĹŠ#,/+# ".1#2ĹŠ3(#-#-ĹŠ' 23 ĹŠ#+ĹŠ5(#1-#2ĹŠÄˆÄŽĹŠ "#ĹŠ 1(+ĹŠ/ 1 ĹŠ#-31#% 1+#ĹŠ ĹŠ242ĹŠ!.+ .1 ".1Äą #2ĹŠ+ 2ĹŠ43(+(" "#2ĹŠ% - " 2ĹŠ"41 -3#ĹŠ#+ĹŠ  .Ä“
;%(- ĹŠ ÄŠ
;%(- ĹŠ ÄŽ
(Ĺ‹' 3),Ĺ‹ )(.,)&Ĺ‹ Ĺ‹ ,)! -Ĺ‹* , Ĺ‹ ( ˜)-
)( $ & -Ĺ‹ *,/ ( ' (. (#'# (.)Ĺ‹0# &Ĺ‹ Bk[]e Z[ bW WfheXWY_ÂŒd Z[b 9ed# Y[`e Ckd_Y_fWb Z[ 7cXWje" fWhW [`[YkjWh bW fWl_c[djWY_ÂŒd [d lWh_Wi Wl[d_ZWi Z[ bW Y_kZWZ" bW :_h[YY_ÂŒd Z[ EXhWi F‘Xb_YWi Wb cec[dje h[‘d[ bei ZeYkc[djei fWhW fh[i[djWh [b fheo[Yje Z[b YWcX_e l_Wb" [b YkWb Yedi_ij_h| [d h[delWh [d ik jejWb_ZWZ [b Wi\Wb# jWZe e fWl_c[dje" bWi WY[hWi" bWi
jkX[h‡Wi Z[ WbYWdjWh_bbWZe o W]kW fejWXb[$ Bei h[Ykhiei i[h|d Wgk[bbei gk[ bb[]Wd ]hWY_Wi W bW B[o &*- gk[ X[d[Ò Y_W bei ckd_Y_f_ei Z[ Jkd]khW^kW$ :[ [ijW cWd[hW" i[ [if[hW [d feYe j_[cfe j[d[h [d bW Y_kZWZ YWbb[i oW l[d_ZWi X_[d Yk_ZWZWi$ ;%(- Ŋ ĉ
ēŊ 1( 2Ŋ5~ 2Ŋ"#Ŋ+ Ŋ!(4" "Ŋ 2#1;-Ŋ1#-.5 " 2Ŋ/.1Ŋ#+Ŋ 4-(!(/(.ē
C[Z_Wdj[ kd WYk[hZe [djh[ bW L_Y[WbYWbZ‡W Z[ 8W‹ei o bei c_[cXhei Z[ bW Kd_ZWZ 7d# j_dWhYÂŒj_Yei" [d bei fhÂŒn_cei c[i[ \kdY_edWh| bW IkX`[\Wjk# hW 7dj_dWhYÂŒj_Yei Yed [b Ă’ d Z[ h[ZkY_h [b Yedikce Z[ [ijkf[# \WY_[dj[i [d [b XWbd[Wh_e$ Bei jkh_ijWi o XWd[‹ei j[d# Zh|d kdW eĂ’ Y_dW [if[Y_Wb$ ;%(- ĹŠ Ä‘
666Ä“+ '.1 Ä“!.,Ä“#!
Ä‚
ÄŒÄ?ÄŽ
¢+ 1#2Ŋ2#1~ Ŋ#+Ŋ /1#24/4#23.Ŋ"#Ŋ (-5#12(¢-Ŋ/ 1 Ŋ+ Ŋ 1#/ 5(,#-3 !(¢-Ŋ "#Ŋ+ Ŋ 5#-(" Ŋ .2Ŋ -"#2ē
Ä?Ä‘Ä?
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
¢+ 1#2Ŋ!.-Ĺ 23 1~ Ŋ+ Ŋ1#/ 5(Ĺ ,#-3 !(¢-Ŋ"#Ŋ+ Ŋ 5#-(" Ŋ +Ŋ #8ē
7 Ĺ?Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
ĹŠ
23#"Ŋ/4#"#Ŋ#-5( 1Ŋ242Ŋ$.3.2Ŋ"#Ŋ"#-4-!( 2Ŋ!.,4-(3 1( 2Ŋ8Ŋ+ 2Ŋ 43.1(" "#2Ŋ 1#2/#!3(5 2Ŋ3(#-#-Ŋ+ Ŋ./.134-(" "Ŋ"#Ŋ1#2/.-"#1ēŊ Ŋ .1 Ŋ2#Ŋ1#2#15 Ŋ#+Ŋ"#1#!'.Ŋ "#Ŋ2#+#!!(.- 1Ŋ8Ŋ#"(3 1Ŋ+ 2Ŋ"#-4-!( 2ē
* 0#' (. #š(ŋ3ŋ ' #)ŋ - (#. ,#)ŋ (ŋ0 ,# -ŋ ,. ,# ¥ ēŊ 1( 2Ŋ5~ 2Ŋ"#Ŋ , 3.Ŋ04#Ŋ#23;-Ŋ"#3#1(.1 " 2Ŋ2#1;-Ŋ(-3#15#-(" 2ĔŊ!.,.Ŋ+ Ŋ 5#-(" Ŋ .2Ŋ -"#2ē
+ Ŋ#"4! !(¢-
41 -3#ĹŠ+ 2ĹŠÄƒĹŠ#23 ĹŠ"#ĹŠ , 3.ĹŠ!(#13.2ĹŠ!(4" " -.2ĹŠ'(!(#1.-ĹŠ41(- 1(.2ĹŠ/ĂŒ +(!.2ĹŠ+ 2ĹŠ #204(- 2ĹŠ"#ĹŠ+ 2ĹŠ! ++#2ĹŠ 4(3.ĹŠ8ĹŠ .+~5 1ĔŊ8ĹŠ#-ĹŠ3.".ĹŠ1#!.5#!.ĹŠ"(2/.-( +#ĹŠ"#ĹŠ !4#1".ĹŠ ĹŠ ÄĽ+ ĹŠ41%#-!( ÄŚĹŠ04#ĹŠ3#-~ -Ä“
.-3 ,(- !(¢-Ŋ , (#-3 +
23 ĹŠ#+ĹŠ,.,#-3.ĹŠÄ”#7(23#-ĹŠ!(#13.2ĹŠ!.-"4!3.1#2ĹŠ04#ĹŠ/.!.ĹŠ.ĹŠ- " ĹŠ+#2ĹŠ(,/.13 ĹŠ#+ĹŠ ,#"(.ĹŠ , (#-3#ĹŠ8ĹŠ+.ĹŠ!.-3 ,(- -ĹŠ!.-ĹŠ% 2#2ĹŠ3¢7(!.2ĹŠ"#ĹŠ242ĹŠ5#'~!4+.2ēŊ ĹŠ%1;ÄƒĹŠ! ĹŠ+.ĹŠ "#,4#231 ĹŠ3.".ĹŠ!.-ĹŠ#23#ĹŠ3 -04#1.ĹŠ"#ĹŠ!., 423( +#2Ä“
ÄŻÄƒÄ€Ä‚Ä Ăť
1 !( 2Ŋ Ŋ1# )423#2Ŋ /1#24/4#23 1(.2ĔŊ 2#Ŋ#)#!43 1;-Ŋ-4#Ĺ 5 2Ŋ. 1 2Ŋ"#Ŋ! +(Ĺ " "Ŋ#-Ŋ , 3.ē
I[ fh[lƒ gk[ fWhW c[Z_WZei Z[ ƒij[ (&''" i[ [`[Ykj[ bW h[fW# l_c[djWY_ÂŒd [ _d\hW[ijhkYjkhW iWd_jWh_W Z[ bW Wl[d_ZW ;b H[o" [djh[ [b h[ZedZ[b Z[ 9kcWdZ| o [b fk[dj[ Z[b [ijWZ_e 8[bbWl_ijW$ :[ _]kWb \ehcW Z[ bW Wl[d_ZW Bei 7dZ[i [djh[ bW Wl[d_ZW ;b H[o o bW YWbb[ ;if[`e$ CWh_WdW 8k[dWl[djkhW" i[‹W# bÂŒ gk[ ]hWY_Wi W bei h[W`kij[i fh[# ikfk[ijWh_ei o W be gk[ cWdZW bW B[o &*-" [b Ckd_Y_f_e Z[ 7cXW# je h[Y_X_h| kd Y_[hje fehY[djW`[ [YedÂŒc_Ye" gk[ i[ _dl[hj_h| [d bW [`[YkY_ÂŒd Z[ Z_Y^Wi eXhWi$ Æ;ij[ fheo[Yje Yedi_ij[ [d [b FbWd Z[ CWdj[d_c_[dje L_Wb" ZedZ[ i[ ZWh| fh_eh_ZWZ W bWi l‡Wi gk[ cWoeh W\[YjWY_ÂŒd Wi\|b#
j_YW fei[[d o gk[ d[Y[i_jWd c[# `ehWh ik _cW][dÇ" cWd_\[ijÂŒ$ >Wo gk[ h[YehZWh gk[ [b fWiW# Ze / Z[ cWhpe Z[ (&''" [b 9edY[`e Ckd_Y_fWb" WfheXÂŒ bW [`[YkY_ÂŒd [ _dl[hi_ÂŒd Z[ bWi eXhWi Wdj[i _d# Z_YWZWi" [d ZedZ[ i[ [`[YkjWh|d jhWXW`ei Yecfb[jei l_Wb[i o iWd_# jWh_ei" oW gk[ bei [n_ij[dj[i oW ^Wd Ykcfb_Ze ik l_ZW ‘j_b$ 7b cec[dje bW :_h[YY_ÂŒd Z[ EXhWi F‘Xb_YWi" jhWXW`W [d bW fh[i[djWY_ÂŒd Z[ bei fheo[Y# jei l_Wb[i Z[ bei i_j_ei c[d# Y_edWZei" oW gk[ ƒijei Z[X[d Ykcfb_h h[]bWc[djei gk[ Z_i# fed[d bW I[Yh[jWh‡W DWY_edWb Z[ FbWd_Ă’ YWY_ÂŒd o :[iWhhebbe I[dfbWZ[i " Z[b I_ij[cW Z[ 9edjhWjWY_ÂŒd F‘Xb_YW o Z[b C_# d_ij[h_e Z[b 7cX_[dj[" oW gk[ ƒijei ‘bj_cei Z[X[d [djh[]Wh bW YWj[]eh_pWY_ÂŒd Z[ bWi eXhWi [d be gk[ j_[d[ gk[ l[h Wb _cfWYje WcX_[djWb$ Æ;ijWcei h[kd_[dZe jeZei bei h[gk_i_jei o ZeYkc[djei fWhW fh[i[djWh Wb =eX_[hde [b fhe# o[Yje" bk[]e Z[ [bbe" bei Z_d[hei i[h|d [djh[]WZei W bW ckd_Y_fW#
b_ZWZÇ" Yec[djÂŒ 8k[dWl[djkhW$ 7]h[]ÂŒ gk[ bei fbWpei gk[ i[ lWd W Z[j[hc_dWh" _h|d Z[ WYk[h# Ze W bW h[Wb_ZWZ Z[ bei jhWXW`ei" oW gk[ i_[cfh[ [d c[Z_W Yedi# jhkYY_ÂŒd WfWh[Y[d Z[jWbb[i gk[ Z[X[d i[h iebkY_edWZei$
#8ĹŠÄ‡ÄŒÄ?
BW B[o &*-" gk[ ][d[hW h[djWi fWhW bWi ckd_Y_fWb_ZWZ[i Z[ 7pkWo" 9W‹Wh" CehedW IWdj_W]e o Jkd]khW^kW" i[ hWj_Ă’ YW [d [b 9ÂŒZ_]e Eh]|d_Ye Z[ Eh]Wd_pW# Y_ÂŒd J[hh_jeh_Wb" 7kjedec‡W o :[iY[djhWb_pWY_ÂŒd 9EEJ7: " gk[ WfheXÂŒ bW Yec_i_ÂŒd [if[# Y_Wb_pWZW Z[ bW 7iWcXb[W DW# Y_edWb$ BW B[o &*-" i[ ikij[djW [d bei \edZei gk[ fheZkY[ [b + Z[ bW \WYjkhWY_ÂŒd Z[ bW l[djW Z[ [d[h]‡W [bƒYjh_YW Z[ bWi Y[djhWb[i ^_Zhe[bƒYjh_YWi0 FWkj[" 7]eo|d F_iWoWcXe o fhÂŒn_cWc[dj[ IWd <hWdY_iYe o CWpWh" [d X[# d[Ă’ Y_e Z[ bei ckd_Y_f_ei Z[ bWi fhel_dY_Wi ZedZ[ [ij|d bWi \k[d# j[i gk[ ][d[hWd [d[h]‡W [bƒYjh_YW ^_ZhW‘b_YW$
&ŋ")-*#. &ŋ , +/# , ŋ ŋ '6-ŋ . ( #š(ŋ
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
1( 2Ŋ2.-Ŋ+ 2Ŋ $ +#-!( 2Ŋ04#Ŋ#+Ŋ '.2/(3 +Ŋ"#Ŋ+ Ŋ!(4Ĺ " "Ŋ1#04(#1#Ŋ"#Ŋ 3#-!(¢-Ŋ41%#-3#ē
|h[W Z[ d[edWjei h[Y_ƒd dWY_# Zei i[ Z[X[ W lWh_ei Wif[Yjei0 _d\[YY_ed[i XWYj[h_ebÂŒ]_YWi" fh[# cWjkhei [njh[cei" Z_Ă’ YkbjWZ[i h[if_hWjeh_Wi [ _d\[YY_ed[i Wb dWY[h$ FWbWj[" _dZ_YÂŒ gk[ bW Wj[dY_ÂŒd feh fWhj[ Z[ bei cƒZ_Yei [i bW WZ[YkWZW" be gk[ de ikY[Z[ Yed bWi [d\[hc[hWi" oW gk[ Y_[hjWi C[Z_Wdj[ kd h[Yehh_Ze ^[Y^e [b cWZh[i Z[ \Wc_b_W Z[dkdY_Whed c_ƒhYeb[i Wdj[h_eh feh fWhj[ Z[ [b cWbjhWje gk[ fWZ[Y[d$ Feh ik fWhj[" Ef_b_e 9ÂŒhZelW" bei \kdY_edWh_ei Z[ bW :[\[die# h‡W Z[ Fk[Xbe Z[ Jkd]khW^kW" Z_h[Yjeh Z[b ^eif_jWb" i[‹WbÂŒ gk[ i[ fkZe [l_Z[dY_Wh gk[ [ijW YWiW [n_ij[ kdW ieXh[feXbWY_ÂŒd Z[ Z[ iWbkZ i_]k[ fWZ[Y_[dZe Z[ d[edWjei" oW gk[ [ij[ |h[W Yk[d# \Wb[dY_Wi gk[ d[Y[i_jWd i[h Wj[d# jW Yed '* YWcWi o [d eYWi_ed[i Z_ZWi Z[ kh][dY_W feh fWhj[ Z[b i[ Z[X[ [nj[dZ[h ^WijW (+ YWcWi =eX_[hde DWY_edWb fWhW Yedj_# feh Wi_ij[dY_W Z[ f[hiedWi Z[ dkWh ZWdZe [b i[hl_Y_e cƒZ_Ye ejhei bk]Wh[i$ Ejhe Z[ bei _dYedl[d_[dj[i WZ[YkWZe" i[]khe o Z_]de$ 7b h[if[Yje" CWdk[b FWbWj[" gk[ j_[d[ [ij[ |h[W [i bW \WbjW Z[ f[hiedWb cƒZ_Ye o Z[ Yec_i_edWZe Z[ bW :[\[d# Wi[e1 |h[W Z[ Yb_cWj_pW# ieh‡W Z[b Fk[Xbe" cWd_\[i# Y_ÂŒd" Yk_ZWZei _dj[di_lei jÂŒ gk[ Z[djhe Z[ bW l_i_jW
ĹŠ o Z[ kd iebe [ifWY_e gk[ gk[ i[ h[Wb_pÂŒ feh bWi Z_\[# #ĹŠ"¢+ 1#2ĹŠ$4#ĹŠ#+ĹŠ h[dj[i |h[Wi" l[h_Ă’ YÂŒ gk[ /1#24/4#23.ĹŠ"#+ĹŠ i[W [if[Y_Wb_pWZe fWhW bW Wj[dY_ÂŒd W bei fWY_[dj[i ĹŠ#-ĹŠ#+ĹŠÄ‰Ä‡ÄˆÄ‡Ä“ [ij[ i[Yjeh lkbd[hWXb[$ FWbWj[ h[YWbYÂŒ gk[ de gk[ WYkZ[d W Z_Wh_e ^WijW [i fei_Xb[ gk[ i[ ^WoWd [ij[ Y[djhe ^eif_jWbWh_e WZ[YkWZe Zei |h[Wi fWhW de [i Xk[dW$ d[edWjebe]‡W" oW gk[ [b :[djhe Z[ bWi |h[Wi h[#
ĹŠ jhWibWZe Z[b cƒZ_Ye Z[ Yehh_ZWi [ij|d0 c[Z_Y_dW #ĹŠ"¢+ 1#2ĹŠ#2ĹŠ#+ĹŠ /1#24/4#23.ĹŠ kd bk]Wh W ejhe fk[Z[ ][d[hWb" [b |h[W Z[ d[edW# -4 +ĹŠ/ 1 ĹŠ#+ĹŠ YedjWc_dWhi[ Yed Wb]kdW jebe]‡W o bW \WhcWY_W Z[ bW !34 +ĹŠ/#1~.".ĹŠ ĉćĈĈē XWYj[h_W o YedjW]_Wh W bei _dij_jkY_ÂŒd" [dYedjhWdZe d[edWjei$ lWh_Wi \Wb[dY_Wi gk[ Z[# ;b ^eif_jWb ^W YebWfiWZe Z[X_# X[d i[h Yehh[]_ZWi Z[ kh][dY_W$ Ze W bW ieXh[feXbWY_ÂŒd Z[ d_‹ei" Ă›h[W Z[ d[edWjebe]‡W BWi YWkiWi Z[ ck[hj[ [d [b o bWi Yb‡d_YWi fh_lWZWi YkWdZe
ĈĊ
ĈĈ
#3(1 -ĹŠ+4!#2ĹŠ"#!.1 3(5 2
4#%.Ŋ "#Ŋ + 2Ŋ $#23(5(" "#2Ŋ "#Ŋ , 3.ĔŊ /#12.- +Ŋ "#Ŋ + Ŋ ,/1#2 Ŋ +_!31(! Ŋ , 3.Ŋ .!(#" "Ŋ -¢-(, Ŋĸ # 2 ĚĔŊ!.,#-9¢Ŋ!.-Ŋ#+Ŋ 1#3(1.Ŋ"#Ŋ+ 2Ŋ/_1%.+ 2Ŋ"#Ŋ+4!#2Ŋ04#Ŋ2#Ŋ4 (! 1.-Ŋ#-Ŋ+.2Ŋ"($#1#-3#2Ŋ 2#!3.1#2Ŋ"#Ŋ+ Ŋ!(4" "ēŊ 8#1Ŋ+.Ŋ'(!(#1.-Ŋ Ŋ+.2Ŋ+ 1%.Ŋ"#Ŋ+ Ŋ! ++#Ŋ .+~5 1Ŋ 8Ŋ/ 13#Ŋ"#Ŋ+ Ŋ 5#-(" Ŋ #5 ++.2ēŊ
ĹŠ ĹŠ Â&#x;
ă
(!3 -Ŋ! / !(3 !(¢-
Ĺ—ĹŠ ĹŠ9ed [b W\|d Z[ c[`ehWh bW fheZkYY_ÂŒd o Yec[hY_Wb_pW#
ēŊ -23 -3#2Ŋ#-Ŋ04#Ŋ -4#+Ŋ + 3#Ŋĸ"ĚĔŊ!.,(2(.- ".Ŋ"#Ŋ+ Ŋ #$#-2.1~ Ŋ"#+Ŋ 4# +.ĔŊ1# +(9¢Ŋ4-Ŋ1#!.11(".Ŋ/.1Ŋ#+Ŋ;1# Ŋ"#Ŋ-#.- 3.+.%~ ē
Ŋ 3#-!(¢-Ŋ #-Ŋ#+Ŋ'.2Ĺ /(3 +Ŋ2#Ŋ' Ŋ "4/+(! ".ĔŊ/.1Ŋ+.Ŋ 04#Ŋ1#04(1(#1#Ŋ"#Ŋ 4- Ŋ-4#5 Ŋ(-$1 #2314!341 Ŋ "(1(%(" Ŋ +Ŋ;1# Ŋ"#Ŋ-#.- 3.Ĺ +.%~ Ģ$ Ŋ Ĕ
ĹŠ ĹŠ ĹŠ } ĹŠ ĹŠ ĹŠ ĹŠ Ä“
j_[d[d fheXb[cWi Yed bei fh[# cWjkhei [njh[cei bei [dl‡Wd ^WijW [ijW YWiW Z[ iWbkZ$
3#-!(¢-Ŋ"#Ŋ+ Ŋ$ 1, !( ŊŊ
:[ _]kWb cWd[hW i[ fkZe Yedi#
jWjWh gk[ ^WijW [b cec[dje bW \WhcWY_W de Yk[djW Yed bei c[# Z_YWc[djei ikĂ’ Y_[dj[i o Xh_dZW kdW Wj[dY_ÂŒd W bei fWY_[dj[i Wb ,& feh Y_[dje" eXb_]|dZebei W WZgk_h_h Y_[hjWi c[Z_Y_dWi \k[hW Z[b ^eif_jWb$ ÆKdW l[p gk[ bei _d\ehc[i Z[ jeZWi bWi fhel_dY_Wi [ijƒd b_ijei i[h|d h[c_j_Zei Wb :[\[dieh Z[b Fk[Xbe DWY_edWb" fWhW gk[ i[Wd fk[ije [d YedeY_c_[dje Z[b C_# d_ij[h_e Z[ IWbkZ o Z[b =eX_[hde DWY_edWb fWhW bWi c[Z_ZWi [c[h# ][dj[i d[Y[iWh_WiÇ" YedYbkoÂŒ$
(- ,# # ,)(Ĺ‹ ( # . -Ĺ‹ * , Ĺ‹ ˜),#. Ĺ‹ -./ # (. Ĺ‹ ;d c[Z_e Z[ ]h_jei Z[ Wb[]h‡W" bei [ijkZ_Wdj[i Z[b 9eb[]_e FWh# j_YkbWh IWd 7b\edie" h[Wb_pWhed bW cW‹WdW Z[ Wo[h bW _diYh_fY_ÂŒd Z[ bWi dk[l[ YWdZ_ZWjWi Wif_# hWdj[i W ĂˆI[‹eh_jW ;ijkZ_Wdj[ IWd 7b\edie (&''É$ :[djhe Z[b [l[dje i[ h[Wb_pÂŒ bW fh[i[djWY_ÂŒd [ _diYh_fY_ÂŒd Z[ YWZW kdW Z[ bWi YWdZ_ZWjWi gk[ h[fh[i[djWd W bei Z_\[h[dj[i Ykhiei o i[YY_ed[i [ZkYWj_lWi Z[b Yeb[]_e$ ;\hW‡d >_ZWb]e" h[Yjeh Z[b Yeb[]_e" cW# d_\[ijÂŒ gk[ [ijWi WYj_l_ZWZ[i WokZWd W kd_Ă’ YWh [b YecfW‹[# h_ice [djh[ bei [ijkZ_Wdj[i o j[d[h kdW X[bbW h[fh[i[djWdj[" gk[ [ijWh| fh[i[dj[ [d jeZei bei WYjei ieY_Wb[i" Z[fehj_lei o YkbjkhWb[i gk[ i[ eh]Wd_Y[d Z[d# jhe o \k[hW Z[ bW _dij_jkY_ÂŒd$ BWi YWdZ_ZWjWi ied0 Ie\‡W D‘‹[p"
Y_ÂŒd Z[ Yko[i [d bW fhel_dY_W" bW <kdZWY_ÂŒd Z[ :[iWhhebbe 9Wcf[i_de [ ?dZ‡][dW Z[ Jkd]khW^kW h[Wb_pW ^eo [b jWbb[h WY[hYW Z[b c[`ehW# c_[dje o Yec[hY_Wb_pWY_ÂŒd [d bW Yh_WdpW Z[ Yko[i Z[ bei i[Yjeh[i hkhWb[i Z[ bW h[]_ÂŒd$ I[ Z[iWhhebbWh| [d [b 7kZ_je# h_e Z[b ?dij_jkje J[YdebÂŒ]_Ye Ikf[h_eh Ăˆ8eb‡lWhÉ" \h[dj[ Wb fWhgk[ 9[lWbbei W fWhj_h Z[ bWi &/0&&$ ;b fhefÂŒi_je Z[ bW \kdZWY_ÂŒd [i fheo[YjWh kdW [cfh[iW Z[ Yec[hY_Wb_pWY_ÂŒd Z[ Yko[i Yed bW fWhj_Y_fWY_ÂŒd Z[ f[gk[‹ei [cfh[iWh_ei$
7 +3 -ĹŠ ĹŠ+ ĹŠ,4)#1ĹŠ
Ĺ—ĹŠ ĹŠFWhW [b fhÂŒn_ce cWhj[i '+ Z[ cWhpe W fWhj_h Z[ bWi &/0)&" [d [b IWbÂŒd Z[ bW 9_k# ZWZ" i[ Z[iWhhebbWh| [b \ehe ĂˆBW ck`[h o ik heb [d bW ieY_[ZWZÉ" Yed kd ^ec[dW`[ W bW ck`[h [d ik Z‡W _dj[hdWY_edWb$ 7Yj_l_ZWZ Z_h_]_ZW feh [b :[fWhjWc[dje Z[ 9kbjkhW Z[ bW Kd_l[hi_ZWZ JƒYd_YW Z[ 7cXWje o gk[ YedjWh| Yed bW fWhj_Y_fWY_ÂŒd [ijkZ_Wdj_b Z[ bei [ijWXb[Y_c_[djei [ZkYWj_# lei Z[ bW fhel_dY_W$
ÂĄ ēŊ 4 +04(#1 ĹŠ"#ĹŠ #23 2ĹŠ-4#5#ĹŠ!'(04(++ 2ĹŠ2#1;ĹŠ+ ĹŠ # .1(3 ĹŠ 234"( -3#ĹŠ"#+ĹŠ -ĹŠ +$.-2.ĹŠÄ‰Ä‡ÄˆÄˆÄ“ĹŠĹŠ
/ !(3 -ĹŠ ĹŠ! 11.!#1.2
B_iX[j^ C[dW" 7dZh[W Fehj[# he" IWhW_ 7Xh_b" N_c[dW 9Wijhe" LWb[h_W 9eXe" =WXh_[bW L[bWij[# ]k‡" 7dZh[W I|dY^[p o @e^WddW 9efe" h[fh[i[djWdj[ Z[b F[di_e# dWZe IWd 7b\edie$ BW [b[YY_Œd i[ Z[iWhhebbWh| [b fhŒn_ce bkd[i * Z[ WXh_b W fWhj_h Z[ bWi '.0&& [d [b j[Wjhe BWbWcW$
JƒYd_YW Z[ 7cXWje KJ7 " <WYkbjWZ Z[ ?d][d_[h‡W C[Y|# d_YW" i[ Z[iWhhebbWh| bW YWfWY_# jWY_Œd Wb i[Yjeh YWhheY[he feh fWhj[ Z[ 9ehfeWcXWje$ ;b eX`[j_le [i ZWh W YedeY[h bW ^ecebe]WY_Œd YWhheY[hW W [iYWbW dWY_edWb o ejhei j[cWi Z[ _dj[hƒi [cfh[iWh_Wb$
Ĺ—ĹŠ ĹŠFWhW [b cWhj[i '+ Z[ cWhpe W bWi '+0&&" [d bW Kd_l[hi_ZWZ
Ŋ Ŋ Ŋ Ŋ Ŋ ĔŊ ĔŊ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ
Ä…
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
ēŊ -Ŋ#23#Ŋ2(3(.Ŋ2#Ŋ"# #-Ŋ !.+.! 1Ŋ+.2Ŋ"#2/#1"(!(.2ē
- ")-ŋ ŋ ¥ ēŊ +Ŋ/ 104#Ŋ #5 ++.2Ŋ1#%1#2¢Ŋ Ŋ2#1Ŋ-4#5 ,#-3#Ŋ/ 1 " Ŋ"#Ŋ 42#2Ŋ"#+Ŋ31 -2/.13#Ŋ41 -.Ŋ"#Ŋ , 3.ē
ĹŠ!.+ .1 1ĹŠ !.-ĹŠ+(,/(#9
Ĺ—ĹŠĹŠ
LWh_ei Y_kZWZWdei" Yed bW _dj[dY_ÂŒd Z[ i[fWhWh fk[ijei fWhW [b Z[iĂ’ b[ Z[ bW <_[ijW Z[ bW <hkjW o Z[ bWi <beh[i <<< " i[ Z[Z_YWhed W YebeYWh Y_djW WZ^[i_lW" Z[ [cXWbW`[ o [d Wb]kdei YWiei f_djkhW W be bWh]e Z[ bW Wl[d_ZW 9[lWbbei o YWbb[ 8eb‡lWh" eYWi_edWdZe kdW cWbW _cW][d fWhW bW Y_kZWZ" _dYh[c[dje Z[ XWikhW o bW d[Y[i_ZWZ Z[ kj_b_pWh f[h# iedWb WZ_Y_edWb fWhW h[j_hWh [ij[ cWj[h_Wb gk[ cWdY^W bWi WY[hWi o [if[Y_Wbc[dj[ bWi |h[Wi h[][d[hWZWi Yed WZe# gk‡d Z[YehWj_le$ I[ [if[hWd Yehh[Yj_lei feh fWhj[ Z[ bWi Wkjeh_ZWZ[i$
-ĹŠ!#-31.ĹŠ"#ĹŠ "(2#Â .ĹŠ8ĹŠ"#2 11.++.
Ĺ—
;b fhŒn_ce ', Z[ cWhpe Z[ (&''" i[ Z[iWhhebbWh| bW _dWk# ]khWY_Œd Z[b fh_c[h 9[djhe Z[ :_i[‹e o :[iWhhebbe fWhW bW ?dZkijh_W Z[b 9WbpWZe$ ;b [l[dje i[ ZWh| [d [b Y[djhe Z[ ;nfei_Y_ed[i 7cXWje 9;7 W fWhj_h Z[ bWi ',0&&$ 7gk‡ i[ fh[lƒ bW l_i_jW Z[ L[hŒd_YW I_Œd" c_d_ijhW Z[ ?dZkijh_Wi o FheZkYj_l_ZWZ$
#ĹŠ(- 4%41 ĹŠ#"(ÄƒĹŠ!(.
Ĺ—ĹŠĹŠ
BWi Wkjeh_ZWZ[i Z[b H[]_ijhe 9_l_b Z[ Jkd]khW^kW _dWk]khW# h|d ik dk[le [Z_Ă’ Y_e [b bkd[i (' Z[ cWhpe Z[ (&''$ ;ij[ WYje i[ Ykcfb_h| [d bWi dk[lWi _dijWbWY_ed[i i_jkWZWi \h[dj[ Wb >eif_jWb C_bb[dd_kc Z[ 7cXWje" W fWhj_h Z[ bWi '&0)&$
-ŋ /- . -ŋ3ŋ /- -ŋ (ŋ )(óŋ# .)ŋ*),ŋ* - $ ,) .2Ŋ424 1(.2Ŋ"#Ŋ (-++.Ŋ3(#-#-Ŋ2#15(Ĺ !(.Ŋ41 -.ĔŊŊ (!. Ŋ8Ŋ 3.!' Ŋ-.Ŋ"(2/.-#-Ŋ "#Ŋ+~-# Ŋ-.!341- ē :[iZ[ ^WY[ lWh_ei Z‡Wi" bei jhWdifehj_ijWi Z[b i[hl_Y_e kh# XWde gk[ ^WY[d iki h[Yehh_Zei ^WijW [b i[Yjeh Z[ F_dbbe W fWhj_h Z[ bWi '/0&&" h[Y^WpWd bW _Z[W Z[ gk[ bei YedZkYjeh[i Z[ Xki[jWi b[i Ægk_[j[dÇ W bei fWiW`[hei$ C_[djhWi gk[ bei YedZkYjeh[i Z[ Xki[jWi" gk[ ][d[hWbc[dj[ ik[b[d kX_YWhi[ [d bWi YWbb[i 8e# b‡lWh o C[hW" Z_Y[d gk[ ik jhW# XW`e [i b[]Wb" oW gk[ [d l_ijW Z[ gk[ bei YedZkYjeh[i Z[ Xki[i de Ykcfb[d Yed iki h[Yehh_Zei ^Wi# jW bWi ((0&& Yece [ij| [ijWXb[Y_#
Ze feh bW Kd_ZWZ Ckd_Y_fWb Z[ Jh|di_je o JhWdifehj[ KCJ " [ijei [djh[]Wd [b i[hl_Y_e W bW Y_kZWZWd‡W gk[ i[ Z_h_][ ^WijW F_dbbe" 7dZ_]bWjW o <_YeW$ ;i Wi‡ gk[ Z[iZ[ ^WY[ jh[i i[cWdWi" iebWc[dj[ bW b‡d[W gk[ i[ Z_h_][ Wb i[Yjeh Z[ F_dbbe h[Wb_pW iki h[Yehh_Zei ^WijW bWi (&0)&" f[he Yed bW ‘d_YW Z_\[h[dY_W Z[ gk[ ik fWhWZW oW de bW ^WY[d [d bW YWbb[ ;if[`e o @kWd 8$ L[bW" i_de [d [b fWhgk[ 9[lWbbei$ Æ:Wcei [b i[hl_Y_e W bW Yeb[Yj_l_ZWZ" f[he Z[X[cei f[hcWd[Y[h feh (& e )& c_dkjei [d [ijW fWhWZW fWhW feZ[h bb[lWh W bei kikWh_ei$ ;i# jWcei Ykcfb_[dZe" f[he ieXh[ jeZe gk[h[cei gk[ bei i[‹eh[i Z[ bWi Xki[jWi dei Z[`[d W bei fWiW`[hei" YWie YedjhWh_e dei Z[cehWcei c|i [d bb[dWh bWi kd_ZWZ[iÇ" i[‹WbÂŒ HeZh_]e DD" YedZkYjeh Z[ jhWdifehj[ khXWde$ ;ijW i_jkWY_ÂŒd YWkiW cWb[ijWh
[d bei YedZkYjeh[i Z[ Xki[jWi" gk_[d[i Z[iZ[ '//* fh[ijWd iki i[hl_Y_e Yed bei h[Yehh_Zei Wd# j[i i[‹WbWZei$ Æ:[iZ[ dkdYW bei jhWdifehj_ijWi Z[ i[hl_Y_e khXW# de ^Wd h[Wb_pWZe iki h[Yehh_Zei ^WijW bWi ((0&&" o W^ehW gk_[h[d gk_jWhdei dk[ijhW \k[dj[ Z[ jhW# XW`e" W iWX_[dZWi gk[ deiejhei Ykcfb_cei Yed h[Yehh_Zei gk[ lWd Z[iZ[ F_dbbe" 7dZ_]bWjW o ^WijW [b Ă’ dWb Z[ <_YeW" YeXhWd# Ze bei c_icei &"(+ Y[djWlei gk[ [bbei YeXhWdÇ" Yec[djÂŒ F[Zhe D$" YedZkYjeh Z[ Xki[jW$ Feh ik fWhj[ JhW`Wde I|dY^[p" Z_h[Yjeh Z[ bW KCJ" i[‹WbÂŒ gk[ bei jhWdifehj_ijWi Z[ i[hl_Y_e khXWde j_[d[d [b f[hc_ie fWhW kX_YWhi[ [d [b fWhgk[ 9[lWbbei" f[he Z[iZ[ bWi (&0&&$ Bei Yed# ZkYjeh[i Z[ bWi Xki[jWi de j_[d[ [b f[hc_ie Z[ ef[hWY_ÂŒd Z[ bW [dj_ZWZ fWhW bb[lWh fWiW`[hei" oW gk[ ied kd_ZWZ[i [iYebWh[i$
)(-.,/ #š(Ĺ‹ &Ĺ‹ , && ()Ĺ‹- (#. ,#) 7b cec[dje i[ [dYk[djhW ^WX_b_jWZe [b h[bb[de iWd_jW# h_e kX_YWZe [d bW l‡W W F‡bbWhe" Yece bk]Wh fWhW Z[fÂŒi_je Z[ bei Z[i[Y^ei Z[ YedijhkYY_ÂŒd" cWj[h_Wb Z[ feZWi o Z[i[Y^ei Zecƒij_Yei$ H[fh[i[djWdj[i Z[ bW :_# h[YY_ÂŒd Z[ >_]_[d[ Z[b Ckd_# Y_f_e Z[ 7cXWje _d\ehcWhed ieXh[ Z_Y^W Z_ifei_Y_ÂŒd" je# cWdZe [d Yk[djW gk[ [d bWi ‘bj_cWi i[cWdWi i[ ^Wd l_i# je feh Y_[hjWi pedWi cWj[h_Wb fƒjh[e [d bWi [igk_dWi o [d [YejWY^ei$ Feh [bbe" Yeckd_YWd W bW Y_kZWZWd‡W gk[ bei Z[i[Y^ei fk[Z[d i[h Z[fei_jWZei Zk# hWdj[ bWi (* ^ehWi" Z[ bkd[i W Zec_d]e [d [b h[bb[de i[‹W# bWZe$ Gk_[d[i YedYkhhWd W Z[# fei_jWh bei Z[i[Y^ei" Z[X[d _Z[dj_\_YWhi[ Z[ gk[ bk]Wh l_[d[d o bW YbWi[ Z[ cWj[h_Wb gk[ jhWdifehjWd Wb ]kWhZ_W Z[ jkhde$ I_d ebl_ZWhi[ Z[ Z[fei_# jWh bei Z[i[Y^ei iÂŒb_Zei [d [b bk]Wh gk[ b[i _dZ_gk[ Z_Y^e ]kWhZ_W$
Ĺ‹' $), Ĺ‹ &Ĺ‹ (#&&)Ĺ‹0# &Ĺ‹ Ĺ‹ / "#Ĺ‹ "# ) 9ed bW l_i_ÂŒd Z[ ][d[hWh cWi l‡Wi Wbj[hdWi fWhW [b jh|Ă’ Ye l[# ^_YkbWh o Z[iYed][ij_edWh fkd# jei [ijhWjƒ]_Yei [if[Y_Wbc[dj[ [d ^ehWi f_Ye" [b Ckd_Y_f_e Z[ 7cXWje _dj[hl_de [d ejhWi YWbb[i Z[b i[Yjeh Z[ >kWY^_ 9^_Ye" _d# l_hj_[dZe '.+ c_b ZÂŒbWh[i$ ;i Wi‡ gk[ [d bW YWbb[ =WhY‡W Ce]hel[`e i[ YebeYWhed -&& c[jhei b_d[Wb[i Z[ jkX[h‡W FL9 Z[ ,) c_b‡c[jhei [d bei Zei bW# Zei Z[ bW l‡W fWhW Z_ijh_XkY_ÂŒd Z[ W]kW fejWXb[" WZ[c|i i[ _di# jWbWhed'+& c[jhei b_d[Wb[i Z[ jkX[h‡W Z[ WbYWdjWh_bbWZe Yed fepei Z[ h[l_i_ÂŒd" Yed[n_ed[i Zec_Y_b_Wh_Wi Z[ W]kW fejWXb[ o WbYWdjWh_bbWZe" YedijhkYY_ÂŒd Z[ WY[hWi o YebeYWY_ÂŒd Z[ ^ehc_# ]ÂŒd Wi\|bj_Ye Z[ + Y[dj‡c[jhei
ēŊ Ŋ9.- Ŋ +3 Ŋ"#Ŋ+ Ŋ!(4" "Ŋ!4#-3 Ŋ!.-Ŋ,#).1Ŋ(, %#-Ŋ"#Ŋ242Ŋ! ++#2ē
[d + c_b )&& c[jhei YkWZhWZei c( $ >Wo gk[ h[YehZWh gk[ [ijW l‡W kd[ Yed bW iWb_ZW W bW Y_kZWZ Z[ H_eXWcXW$ FWhW Yecfb[jWh [ij[ Wd_bbe l_Wb" i[ _dj[hl_de [d bW YWbb[ C_# ]k[b Z[ IWdj_W]e" bW c_icW gk[ [cfWjW bW l‡W Wdj[h_eh Yed bW iWb_ZW W =kWhWdZW" Wgk‡ i[ Ye# beYWhed ,&& c[jhei b_d[Wb[i Z[ jkX[h‡W FL9 Z[ ,) c_b‡c[jhei fWhW W]kW fejWXb[" i[ _dijWbW# hed Yed[n_ed[i Zec_Y_b_Wh_Wi" i[ Yedijhko[hed WY[hWi o YebeYŒ fWl_c[dje Wi\|bj_Ye [d kd |h[W Z[ * c_b (&& c[jhei YkWZhWZei c( $ 9ed [ijWi Zei l‡Wi i[ e\h[Y[ W bW Y_kZWZWd‡W ejhW Wbj[hdWj_lW Z[ jh|di_je gk[ f[hc_j_h| gk[ de i[ YebWfi[ [b h[ZedZ[b Z[ >kWY^_$
-Ĺ‹/.#&# -Ä…Ĺ‹ &Ĺ‹*& 4)Ĺ‹3 '*# 4 Ĺ‹ Ĺ‹ ),, ,Ĺ‹* , Ĺ‹.) ) 2ĹŠ#,/1#2 2ĹŠ3(#Äą -#-ĹŠ' 23 ĹŠ#+ĹŠÄˆÄŽĹŠ"#ĹŠ 1(+ĹŠ/ 1 ĹŠ#-31#Äą % 1ĹŠ#+ĹŠ"(-#1.ĹŠ/.1ĹŠ #23#ĹŠ 2/#!3.ĹŠ+#% +Ä“ Bei Z‡Wi fWiWd o bWi f[hiedWi gk[ jhWXW`Wd [d h[bWY_ÂŒd Z[ Z[# f[dZ[dY_W [cf_[pWd W ^WY[h fbW# d[i Z[ be gk[ ^Wh|d Yed bWi kj_# b_ZWZ[i gk[ b[i Yehh[ifedZ[ Z[b W‹e (&'&$ FWhW [bbe" [b C_d_ij[h_e Z[ H[bWY_ed[i BWXehWb[i h[YehZÂŒ W bei [cfh[iWh_ei gk[ [b fW]e Z[ kj_b_ZWZ[i gk[ Z[X[d h[Wb_pWh bei [cfb[WZeh[i Z[b i[Yjeh fh_lWZe W iki jhWXW`WZeh[i" l[dY[ [b '+ Z[ WXh_b$ ;b 9ÂŒZ_]e Z[ JhWXW`e Z[j[hc_# dW gk[ [b fW]e Z[b '+ feh Y_[dje Z[ bWi kj_b_ZWZ[i b‡gk_ZWi" [ijWXb[Y_# ZWi [d kd [`[hY_Y_e [YedÂŒc_Ye" i[ Z[X[ ^WY[h Z[djhe Z[b fbWpe Z[ '+ Z‡Wi" YedjWZei W fWhj_h Z[ bW b_gk_# ZWY_ÂŒd Z[ kj_b_ZWZ[i" gk[ Z[X[ ^WY[hi[ ^WijW [b )' Z[ cWhpe Z[ YWZW W‹e$ ;b '& feh Y_[dje i[ Z_l_Z[ [d# jh[ jeZei bei jhWXW`WZeh[i" i_d Yedi_Z[hWY_ÂŒd W bWi h[ckd[# hWY_ed[i f[hY_X_ZWi ZkhWdj[ [b W‹e" o [b Y_dYe feh Y_[dje [d fhe# fehY_ÂŒd W iki YWh]Wi \Wc_b_Wh[i" [dj[dZ_ƒdZei[ feh jWb[i Wb YÂŒd# ok][ e Yedl_l_[dj[ [d kd_ÂŒd Z[
Z[i o feh [dZ[ de b[i Yehh[ifed# Z[ dWZW$ Æ;if[h[cei gk[ Yed [b dk[le 9ÂŒZ_]e Z[ bW FheZkYY_ÂŒd bei [c# fb[WZeh[i i[ l[Wd [d bW d[Y[i_# ZWZ Z[ Z[YbWhWh bW h[Wb_ZWZ Z[ bWi kj_b_ZWZ[i" fehgk[ Wb Z[YbWhWh [d Y[he ^Wo Yecfb_Y_ZWZ [djh[ bWi [cfh[iWi o bWi Wkjeh_ZWZ[i Z[ Yedjheb gk[ de bWi Ă’iYWb_pWd X_[d" Yec[djÂŒ =bWZoi 8hWle" [cfb[W# ZW fh_lWZW$
ēŊ .2Ŋ#7/#13.2Ŋ 2#%41 -Ŋ04#Ŋ#+Ŋ"(-#1.Ŋ/.1Ŋ+ 2Ŋ43(+(" "#2Ŋ"# #Ŋ2#1Ŋ (#-Ŋ(-5#13(".ē
^[Y^e" bei ^_`ei c[deh[i Z[ '. W‹ei o bei ^_`ei c_dkil|b_Zei Z[ YkWbgk_[h [ZWZ$ Bei jhWXW`WZeh[i gk[ de ^kX_[h[d bWXehWZe [b W‹e Yecfb[je" h[Y_X_h|d kj_b_ZWZ[i [d fhefehY_ÂŒd Wb j_[cfe jhWXW`WZe$ ÆBWi kj_b_ZWZ[i dei bb[]Wd Yece YW‡ZWi Z[b Y_[be" [i kd cko Xk[d Wb_Y_[dj[ fWhW i[]k_h jhWXW`WdZe fk[i ckY^Wi l[Y[i [b jhWje de [i [b c[`eh Z[djhe Z[ bWi [cfh[iWi" o d_ gk[ ^WXbWh Z[ fW]e Z[ ik[bZei o ^ehWi [njhWiÇ" Yec[djÂŒ =k_bb[hce 7dZhWZ[" [cfb[WZe fh_lWZe$ 4(-#2ĹŠ-.ĹŠ1#!( #-ĹŠ43(+(" "#2
:[djhe Z[b Yeckd_YWZe [dl_WZe feh [b C_d_ij[h_e W bWi [cfh[iWi i[ Z_e W YedeY[h gk[ i[ [nYbko[ Z[ [ijei fW]ei W bei ef[hWh_ei o
Wfh[dZ_Y[i Z[ bei Whj[iWdei YW# b_Ă’YWZei o" bWi f[hiedWi gk[ bW# Xeh[d [d [b i[hl_Y_e Zecƒij_Ye$ ;d bWi [cfh[iWi [d bWi YkWb[i [b ;ijWZe j[d]W fWhj_Y_fWY_ÂŒd cW# oeh_jWh_W" jWcfeYe ^WXh| fW]e Z[ kj_b_ZWZ[i$ De j_[d[d Z[h[Y^e W bW fWhj_Y_# fWY_ÂŒd Z[ kj_b_ZWZ[i bei jhWXW`W# Zeh[i gk[ f[hY_X_[hed ieXh[ik[b# Zei e ]hWj_Ă’YWY_ed[i" Ykoe cedje \k[h[ _]kWb e [nY[Z_[h[ Wb fehY[d# jW`[ Z[ kj_b_ZWZ[i gk[ i[ [ijWXb[p# YW W YWZW kde Z[ bei jhWXW`WZeh[i$ I_ [ijei lWbeh[i \k[h[d c[deh[i" j[dZh|d Z[h[Y^e W bW Z_\[h[dY_W$ Kd ]hWd d‘c[he Z[ [cfb[W# Zei Z[ lWh_Wi [cfh[iWi" [djh[ [bbWi c[Z_ei Z[ Yeckd_YWY_ÂŒd ieY_Wb" Wi[]khWd gk[ iki [cfh[# iWi Z[YbWhWd [d Y[he bWi kj_b_ZW#
Ä Â˘,.ĹŠ% 23 1ĹŠ + 2ĹŠ43(+(" "#2Ä&#x;
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ć
#+# 1 !(¢-ĹŠ1#+(%(.2 9ed ]hWd Z[leY_ÂŒd bW cW‹WdW Z[ Wo[h Y[b[XhÂŒ bWi 8eZWi Z[ FbWjW IWY[hZejWb[i [b fWh[ @eiƒ >_ZWb]e" WYje b_j‘h]_Ye gk[ i[ Z[iWhhebbÂŒ [d BW 9Wj[ZhWb$ BW Kd_ZWZ ;ZkYWj_lW <_iYe# c_i_edWb Ăˆ<hWo 8Whjebecƒ Z[ bWi 9WpWi Z[ IWbWiWYWÉ \k[ bW [dYWh]WZW Z[ eh]Wd_pWh [ijW Y[b[XhWY_ÂŒd gk[ Z[ceijhÂŒ [b lWbeh gk[ j_[d[ bW _]b[i_W [d [b fk[Xbe YWjÂŒb_Ye Z[ bW fhel_d# Y_W$
Ĺ—ĹŠ
%.ĹŠ"#ĹŠ"#4" 2ĔŊ,#).1 2ĹŠ #-ĹŠ5(5(#-" 2ĔŊ!.,/1 ĹŠ.ĹŠ! , (.ĹŠ"#ĹŠ 5#'~!4+.ĔŊ#-31#ĹŠ.31.2ĹŠ2.-ĹŠ+.2ĹŠ% 23.2ĹŠ /1(,.1"( +#2ĹŠ04#ĹŠ2#ĹŠ' !#-ĹŠ!.-ĹŠ#+ĹŠ "(-#1.ĹŠ"#ĹŠ+ 2ĹŠ43(+(" "#2ĔŊ04#ĹŠ!.,.ĹŠ 3.".2ĹŠ+.2ĹŠ  .2ĹŠ#23#ĹŠÄ‰Ä‡ÄˆÄˆĹŠ"# #-ĹŠ #-31#% 12#ĹŠ' 23 ĹŠ#+ĹŠÄˆÄŽĹŠ"#ĹŠ 1(+Ä“ 1 ĹŠ#+ĹŠ#!.-.,(23 ĹŠ (%4#+ĹŠ (5#1 ĔŊ#+ĹŠ"(-#1.ĹŠ04#ĹŠ2#ĹŠ1#!( #ĹŠ"#ĹŠ + 2ĹŠ43(+(" "#2ĹŠ"# #ĹŠ43(+(9 12#ĹŠ#-ĹŠ !.2 2ĹŠ1# +,#-3#ĹŠ/1."4!3(5 2ĹŠ04#ĹŠ+#ĹŠ /#1,(3 -ĹŠ ĹŠ+ 2ĹŠ$ ,(+( 2ĹŠ,#).1 1ĹŠ24ĹŠ ! +(" "ĹŠ"#ĹŠ5(" Ä“ ÄĄ - ĹŠ"#ĹŠ+ 2ĹŠ!.2 2ĹŠ,;2ĹŠ1#!.Äą ,#-" +#2ĹŠ#2ĹŠ04#ĹŠ#+ĹŠ"(-#1.ĹŠ2#ĹŠ 43(+(!#ĔŊ/.1ĹŠ+.ĹŠ,#-.2ĹŠ#-ĹŠ/ 13#ĹŠ/ 1 ĹŠ #+ĹŠ '.11.ĹŠ8ĹŠ.31 ĹŠ/ 1 ĹŠ#,/#9 1ĹŠ +%ĂŒ-ĹŠ /1. +#, ĹŠ"#ĹŠ#,/1#-"(,(#-3.ĔŊ #2.ĹŠ"#/#-"(#-".ĹŠ"#ĹŠ+ ĹŠ! -3(" "ĹŠ "#ĹŠ"(-#1.ĹŠ04#ĹŠ+#ĹŠ#-31#%4#-ĹŠ/.1ĹŠ+ 2ĹŠ 43(+(" "#2ĢĔŊ %1#%¢Ŋ#+ĹŠ#7/#13.Ä“
-ĹŠ/.04(3.ĹŠ"#ĹŠ$1~. I[]‘d [b ‘bj_ce _d\ehc[ Z[b ?dWc^_ i[ Z_e W YedeY[h gk[ [d 7cXWje bWi i_]k_[dj[i (* ^ehWi ^Wh| kd feYe Z[ \h‡e$ ;d bW cW‹WdW [b Y_[be f[hcW# d[Y[h| YkX_[hje Yed YbWhei fWhY_Wb[i" YeiW i_c_bWh i[ fh[lƒ gk[ eYkhhW [d bW jWhZ[$ C_[djhWi gk[ bW j[cf[hWjkhW eiY_bWh| [djh[ bei i_[j[ o () ]hWZei Y[dj‡]hWZei ZkhWdj[ [b Z‡W$
Ä? Ĺ‹. & 0#-#š(Ĺ‹#(Ăł/3 Ĺ‹ (Ĺ‹-/Ĺ‹ '#&# ÄŽ 9ed bW Ă’dWb_ZWZ Z[ _dijhk_h W bW Yeckd_ZWZ ieXh[ bei _cfWYjei gk[ j_[d[ bW j[b[l_i_ÂŒd [d YWZW kde Z[b ei _dj[]hWdj[i Z[ bW \W# c_b_W" [b 9[djhe ?dj[hdWY_edWb Z[ ;ijkZ_ei Ikf[h_eh[i Z[ 9eck# d_YWY_ÂŒd fWhW 7cƒh_YW BWj_dW 9_[ifWb o 9[\eY_d[ eh]Wd_pWd Z[b '/ Z[ cWhpe Wb / Z[ WXh_b bei Z‡Wi i|XWZei Z[ &/0&& W ''0&& [b jWbb[h ÂľBW j[b[l_i_ÂŒd _dĂ“ko[ [d bW \Wc_b_W5$ ;ijW YWfWY_jWY_ÂŒd [ij| Z_h_]_# ZW W fWZh[i o cWZh[i Z[ \Wc_b_W
*$1$'25(6 '( /$ 5,)$ 25*$1,=$'$ 325 (/ 6,1',&$72 '( &+2)(5(6 352)(6,21$/(6 '( /$ 3$55248,$ ,=$0%$
ž SUHPLR &XDGUyQ 0DUFHOR +LGDOJR
- ĹŠ"41 ĹŠ! ,(- 3
ž SUHPLR / & ' &HVDU &KLFDL]D
4 -".ĹŠ2#ĹŠ3(#-#ĹŠ04#ĹŠ31 ) 1ĹŠ-(-%4- ĹŠ"(ă!4+3 "ĹŠ2#ĹŠ' !#ĹŠ(,/.2( +#ĔŊ#2.ĹŠ #2ĹŠ+.ĹŠ04#ĹŠ2#ĹŠ"#) ĹŠ5#1ĹŠ!.-ĹŠ#23#ĹŠ5#-"#".1ĹŠ"#ĹŠ .+.2ĹŠ04#ĹŠ3., ĹŠ4- ĹŠ+ 1% ĹŠ ! ,(- 3 ĹŠ/ 1 ĹŠ/."#1ĹŠ#7/#-"#1ĹŠ24ĹŠ,#1! "#1~ ĹŠ8ĹŠ++#5 1ĹŠ#+ĹŠ/ -ĹŠ"#ĹŠ! " ĹŠ "~ ĹŠ ĹŠ24ĹŠ! 2 Ä“
ž SUHPLR UDGLRJUDEDGRUD -RVp /XLV .XQDPS ž SUHPLR ERQR 0(*$0$;, -RVHOLWR &RUWH]
Z[ jeZe [b fW‡i" fk[i [bbei ied bei [dYWh]WZe Z[ l[bWh feh [b X_[d# [ijWh Z[b d‘Yb[e Z[ bW ieY_[ZWZ$ :[ bW c_icW \ehcW i[ fh[j[dZ[ _cfkbiWh fheY[iei Z[ \ehcWY_ÂŒd Z[ f[hiedWi h[Ă“[n_lWi" Yh‡j_YWi o Yh[Wj_lWi Wdj[ bei c[diW`[i gk[ Z_\kdZ[d bW j[b[l_i_ÂŒd$
Bei _dj[h[iWZei [d i[h fWhj[ Z[ [ijW WYj_l_ZWZ fk[Z[d eXj[d[h cWoeh _d\ehcWY_Œd W jhWlƒi Z[ bW f|]_dW mmm$Y_[ifWb$d[j e Yeck# d‡gk[i[ W bei j[bƒ\edei &((#+,-# /,," &((#+&,#')($
§ ć 0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
7 Ĺ?Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
2ĹŠ,#).1ĹŠ3#Äą -#1ĹŠ+ ĹŠ .! ĹŠ !#11 " ĹŠ8ĹŠ/ Äą 1#!#1ĹŠ#23ĂŒ/(".ĹŠ04#ĹŠ 1(1+ ĹŠ8ĹŠ"(2(/ 1ĹŠ+ ĹŠ "4" Ģē ĹŠ ĹŠ ĹŠ
+Ŋ1#2/#3.Ŋ ēŊ 2¢+.Ŋ#2Ŋ/.Ĺ Ŋ Ŋ 2( +#Ŋ2(Ŋ8.Ŋ '#Ŋ +! -9 ".Ŋ(-Ĺ "#/#-"#-!( ėŊ2(Ŋ (., ŋ' (.#, -ŋ /4#".Ŋ! ,(- 1Ŋ2(-Ŋ ,4+#3 2ĔŊ2(-Ŋ3#-#1Ŋ 3ŋ).,)-ŋ #- /,-)7djW‹e YkWdZe i[ ZWXW ÆbW fWbWXhW 04#Ŋ".,(- 1Ŋ-(Ŋ #7/+.3 1Ŋ Ŋ- "(#Ģē Z[ YWXWbb[heÇ" [ie i_]d_\_YWXW gk[ [i[ Yh_j[h_e j[d‡W c|i lWbeh gk[ Ŋ
2ĹŠ/#12.- 2ĹŠ (+(-%Ă•#2ĹŠ /1#-"#-ĹŠ,#).1ĹŠ("(., 2ĹŠ
Kd dk[le [ijkZ_e h[l[bW gk[ W bWi f[hiedWi X_b_d]”[i b[i h[ikbjW c|i \|Y_b Wfh[dZ[h kdW j[hY[hW b[d]kW" fk[i feh ik YedZ_Y_ÂŒd Z[ X_b_d]”[i WZgk_[# h[d kdW c[`eh Wfj_jkZ fWhW bei _Z_ecWi$ 7Z[c|i" i[]‘d bei h[ikbjWZei Z[ [ij[ c_ice [ijk# Z_e" Z_Y^Wi f[hiedWi h[]_ijhWd kd Y_[hje _dYh[c[dje Z[ ik _dj[b_][dY_W$ IWb_c 7Xk#HWX_W o ;aWj[h_dW IWd_jiao" Z[b Z[fWhjWc[dje Z[ [ZkYWY_ÂŒd [if[Y_Wb Z[ bW Kd_l[hi_ZWZ Z[ >W_\W" [d ?ihW[b" gk_[d[i bb[# lWhed W YWXe [b [ijkZ_e" [nW# c_dWhed bei X[d[Ă’Y_ei gk[ [b X_b_d]”_ice feZh‡W j[d[h [d [b fheY[ie Z[ Wfh[dZ_pW`[ Z[ kd j[hY[h _Z_ecW$ Ik ^_fÂŒj[i_i _d_Y_Wb" gk[ i[ ^W l_ije YedĂ’h# cWZW" [i gk[ W bei [ijkZ_Wdj[i gk[ YedeY[d Zei b[d]kWi b[i h[ikbjW c|i \|Y_b Zec_dWh kd j[hY[h _Z_ecW gk[ W Wgk[bbei gk[ ^WXbWd kde iebe$ FWhW [ij[ [ijkZ_e" Zei ]hkfei Z[ Wbkcdei Z[ i[nje ]hWZe [d ?ihW[b \k[hed [b[]_Zei fWhW h[fh[i[djWh kdW ck[ijhW Z[ [ijkZ_Wdj[i Z[ _d]bƒi Yece b[d]kW [njhWd`[hW$ ;b fh_c[h ]hkfe [ijkle Yecfk[ije feh *& [ijkZ_Wdj[i" _dc_]hWdj[i Z[ bW [n Kd_ÂŒd Iel_ƒj_YW" YkoW b[d]kW cWj[hdW [i [b hkie o gk[ ^WXbWd Yed Ă“k_Z[p [b ^[Xh[e Yece i[]kdZW b[d]kW$ ;b i[]kdZe ]hkfe [ijkle _dj[# ]hWZe feh *( [ijkZ_Wdj[i dWj_# lei" Z[ ^WXbW ^[Xh[W" i_d c|i Zec_d_e Z[ ejhe _Z_ecW gk[ [b _d]bƒi gk[ [ijkZ_WXWd [d bW [iYk[bW Yece b[d]kW [njhWd# `[hW$ :[ifkƒi Z[ YecfWhWh bei h[ikbjWZei Z[ bWi fhk[XWi" bei _dl[ij_]WZeh[i ^Wd YedijWjW# Ze gk[ bei [ijkZ_Wdj[i WdWb_# pWZei YkoW b[d]kW cWj[hdW [i [b hkie" ck[ijhWd kd cWoeh Zec_d_e de iÂŒbe Z[b dk[le _Z_ecW" [b _d]bƒi" i_de jWcX_ƒd Z[b ^[Xh[e$ ;d bWi fhk[XWi Z[ Wfj_jkZ W bWi gk[ i[ iec[j_ÂŒ W bei Zei ]hkfei" [b Z[ [ijk# Z_Wdj[i Z[ ^WXbW hkiW eXjkle kd fhec[Z_e jejWb Z[ fkdjkW# Y_ÂŒd gk[ ikf[hW [d Wfhen_cW# ZWc[dj[ kd ') feh Y_[dje Wb Z[ bei [ijkZ_Wdj[i dWj_lei$ 48 *ĹŠ !4 ".1 ĹŠ ĹŠ ĹŠ Ä– ! 13 2 +"(1#!3.1Äž+ '.1 Ä“!.,Ä“#! 2(++ ĹŠÄˆÄ?ĈÄ?Ä‰ÄŒÄŠĹŠ ĹŠ.ĹŠ!4 +04(#1 ĹŠ "#ĹŠ-4#231 2ĹŠ %#-!( 2Ä“ #04(2(3.2Ä–ĹŠ ., 1#2ĹŠ8ĹŠ /#++(".2ĹŠ!.,/+#3.2Ä—ĹŠ-ĂŒ,#Äą 1.ĹŠ"#ĹŠ _"4+ Ä—ĹŠ3#+_$.-.ĹŠÄ¸Äƒ).ĚėŊ"(1#!!(¢-ĹŠ".,(!(+( 1( ĹŠ .ĹŠ"#ĹŠ31 ).ĹŠ8ĹŠ!.11#.ĹŠ#+#!31¢-(!.Ä“
ŋŋ ™
I_]k_[dZe [b ceZ[be Y^_de e [b l_[jdWc_jW" [b fh[i_Z[dj[ 9ehh[W WZl_hj_ÂŒ W bW 9ed\[h[dY_W ;f_iYefWb o bW `[hWhgk‡W YWjÂŒb_YW" gk[ Wfb_YWh| bW fej[ijWZ gk[ b[ ejeh]Wd bei jhWjWZei Z[ ;YkWZeh Yed ;b LWj_YWde" Z[ l[jWh [b decXhWc_[dje Z[ eX_ifei$ ;ijW l[p Z[i[dYWZ[dÂŒ bW _hW fh[i_Z[d# Y_Wb [b h[[cfbWpe [d IkYkcX‡ei Z[ bW Yed]h[# ]WY_ÂŒd 9Whc[b_jWi :[iYWbpei feh [b L_YWh_Wje Z[ bei >[hWbZei Z[b ;lWd][b_e" [d YedjhW Z[ bWi Yeckd_ZWZ[i Z[ XWi[$ Æ;b ĂˆceZki l_l[dZ_É gk[ h[]kbW bWi h[bWY_ed[i [djh[ [b ;ijWZe bW_Ye [YkWjeh_Wde o [b LWj_YWde dei f[hc_j[ l[jWh YkWbgk_[h decXhWc_[dje Z[ eX_ife$ DkdYW i[ ^W kj_b_pWZe" Wkdgk[ i[ _di_ij[ [d [ijei \kdZWc[djWb_icei WXikhZei Z[ bb[lWh W dk[ijhW 7cWped‡W W ÂŒhZ[d[i gk[ fed[d ƒd\Wi_i [d [b h_je o bei \kdZWc[djWb_icei cehWb[iÇ" Z_`e 9ehh[W" gk_[d i[ k\WdW Z[ ik [ZkYWY_ÂŒd o
ēŊ } Ŋ Ŋ Ŋ }
(#0 ,- ,#)Ĺ‹ Ýúú Kd i_]be Z[ WYedj[Y_c_[djei fhe# jW]ed_pWZe feh ck`[h[i h[]_ijhW bW ^_ijeh_W" fWhW Y[b[XhWh [b . Z[ cWhpe ikh][ bW fh[]kdjW o fehgk[ de [b '& e [b (& Z[ YkWbgk_[h ejhe c[i" fk[i W^‡ hWZ_YW bW _cfehjWd# Y_W Z[ bW _dl[ij_]WY_ÂŒd gk[ bWi ^_i# jeh_WZehWi `kij_\_YWd$ ;i gk[ W bWi ck`[h[i YWZW Yedgk_ijW Z[iZ[ bW h[YbWcWY_ÂŒd Z[ bei Z[h[Y^ei Y_l_# b[i" feb‡j_Yei o [YedÂŒc_Yei i_]d_# \_YÂŒ fh_c[he [d ;khefW bk[]e [d Dehj[Wcƒh_YW o 7cƒh_YW BWj_dW
f[hj[d[dY_W YWjÂŒb_YWi$ I[]‘d [b b‡Z[h Z[ 7b_WdpW F7?I" i[ [l_jWh| Wi‡ gk[ i[ eXijWYkb_Y[d feb‡j_YWi f‘Xb_YWi [d [b |cX_je ieY_Wb gk[ [cfh[dZ[ ik ]eX_[hde$ Æ;b fhef_e ;lWd][b_e be Z_Y[0 ĂˆcWdiei Yece fWbe# cWi" f[he Wijkjei Yece i[hf_[dj[iÉ$ I[ fh[j[dZ[ h[jheY[Z[h [b jhWXW`e ieY_Wb gk[ WikijW W Y_[hjWi `[hWhgk‡WiÇ" fh[Y_iÂŒ$ ;ijWi Z[YbWhWY_ed[i bWi ^_pe Wb YedZ[YehWh W =edpWbe BÂŒf[p CWhW‹Œd" [n eX_ife Z[ IkYkcX‡ei" Yed bW c[ZWbbW 7b Cƒh_je DWY_edWb$ 9ehh[W WXh[ ejhe \h[dj[ fWhW bW Yed\hedjW# Y_ÂŒd$ ;ijW l[p Wc[dWpW" Z[ \h[dj[" W bW ?]b[i_W 9WjÂŒb_YW" kdW Z[ bWi c|i Wdj_]kWi _dij_jkY_ed[i Z[ bW >_ijeh_W o ZkY^W [d cWd[`Wh fheXb[cWi Z[ [ij[ j_fe$ Fei_Xb[c[dj[ jeZe gk[Z[ [d ÆW]kW Z[ XehhW`WiÇ o bei [YkWjeh_Wdei [ij[cei [djh[j[d_# Zei c_[djhWi bb[]W o fWiW bW YedikbjW fefkbWh$
_d_Y_Wh kd bWh]e l_W`[ Z[ jhWdi\eh# cWY_ÂŒd ieY_Wb [d [b Yedj[nje Z[ bei :[h[Y^ei >kcWdei$ :[iZ[ bW c_hWZW WYjkWb Z[b i_]be NN?" bW H[lebkY_ÂŒd <hWdY[iW Wkje# hW Z[ bW fh_c[hW :[YbWhWY_ÂŒd Z[ bei Æ:[h[Y^ei Z[b >ecXh[ o Z[b 9_kZWZWdeÇ '-./" i[ Z[ck[ijhW gk[ [ijW Z[YbWhWjeh_W dWY[ Yed kdW YWh]W WdZheYƒdjh_YW Z[ [nYbki_lW f[hj[d[dY_W fWhW bei ^ecXh[i0 bW b_X[hjWZ o bW _]kWbZWZ o" de fWhW bWi ejhWi1 [ije f[hc_j_ÂŒ bW bkp Z[ bWi fh_c[hWi f[diWZehWi o fh[Ykhie# hWi Z[ bW YkbjkhW \[c_d_ijW Yece Eb_cf_W :[ =ek][i" gk_[d ^WY[ [b h[YbWce [d bW Z[YbWhWY_ÂŒd Z[ bei Z[h[Y^ei Z[ bW ck`[h o Z[ bW Y_kZW# ZWd‡W '-/' o" CWho Mebbijed[YhW\j [d Z[\[diW Z[ bei :[h[Y^ei Z[ bW Ck`[h '-/(" o ckY^e Wdj[i '*&+ [dYedjhWcei W 9^h_ij_dW Z[ F_pWd \[c_d_ijW o [iYh_jehW kdW \_hc[ efei_jehW Z[ bW ƒfeYW h[dWY[dj_i# jW YkWdZe Z[ jeZei bei cWb[i Z[b
ckdZe i[ b[i Wjh_Xk‡W W bWi ck`[# h[i1 Yed [ij[ l_ijWpe i[ fk[Z[ Yec# fh[dZ[h gk[ [b Z[jedWdj[ Z[b cel_# c_[dje l_dZ_YWj_le \[c_d_ijW [d jeZei bei j_[cfei ^W i_Ze bW [nYbk# i_ÂŒd Z[ bei Z[h[Y^ei Z[ Y_kZWZWd‡W d[]WZe W bWi ck`[h[i i_d [nY[fY_ÂŒd Z[ [jd_W" [ZWZ o YedZ_Y_ÂŒd ieY_Wb fheleYWZe feh bW ejhW c_jWZ Z[ bW ^kcWd_ZWZ$ :[ifkƒi Z[ kd i_]be Z[ ^_ijeh_Wi YedjWZWi ÂľGkƒ [i [b <[c_d_ice5 I_cfb[ h[ifk[ijW YedeY_ZW0 [i kd cel_c_[dje o ^eo lWh_ei" [i kdW ZeYjh_dW ieY_Wb" kdW fWi_ÂŒd" kdW _Z[ebe]‡W" kdW \ehcW Z[ [ijWh" i[dj_h" f[diWh o WYjkWh$ FWhW bWi o bei [nf[hjei Æ[b \[c_d_ice [i kdW j[eh‡W [cWdY_fWZehW Z[ YedijWdj[ fhWYj_YW Z[ ;gk_ZWZ1 f[diWc_[dje o feb‡j_YW fWhW c[`ehWh bW fei_Y_ÂŒd Z[ bWi ck`[h[i [d [b ckdZe o be]hWh fWhW [bbWi [ijWjkje Z[ i[h feh i_ c_i# cWiÇ$ Gk[ZW jWh[W fWhW '&& W‹ei c|i$
YkWbgk_[h fWf[b \_hcWZe" [i _dd[# ]WXb[ gk[ i[ b[ ZWXW c|i lWb‡W W bei WYk[hZei l[hXWb[i Wdj[i" gk[ be gk[ i[ bei ZW WYjkWbc[dj[$ Iebe ^WY[ \WbjW eXi[hlWh bWi fhec[iWi _dYkcfb_ZWi gk[ [hWd [ijWdZWhj[i Z[ YWcfW‹Wi feb‡j_YWi" Z[ bWi YkW# b[i iebe Z[`Whed Z[Y[fY_ÂŒd o jh_ij[# pW feh ^WX[h Yh[‡Ze [d bei bbWcWZei W jhWXW`Wh feh [b X_[d Yec‘d" o gk[ iebe WXkiWhed Z[ bei gk[ Yed\_Whed [d [bbei$ ;d bei c[Z_ei Z[ Yeck# d_YWY_ÂŒd i[ [dYk[djhWd dej_Y_Wi _diÂŒb_jWi Yece bW Z[ bei ^eif_jW# b[i gk[ i[ ikcWd _hh[]kbWh_ZWZ[i Z[ Yedj_dkWi ck[hj[i Z[ d[edW# jei ÂľYk|djWi c|i ^WXh|d gk[ de [ij|d [d [ijWZ‡ij_YWi5 " o W‘d c|i _dYh[‡Xb[ gk[ i[ fh[j[dZW jhWjWh Z[ [ij‘f_Ze Wb fk[Xbe [YkWjeh_Wde i[‹WbWdZe gk[ [ijW i_jkWY_ÂŒd de [i jWd ]hWl[$ E YWcX_WdZe Z[ |cX_# je" Yedijhk_h kdW YedikbjW fefkbWh Z[ Z_[p fh[]kdjWi gk[ ckY^Wi ied Z[ [njh[cW Yecfb[`_ZWZ Yece bW Z[ bW fh_i_ÂŒd fh[l[dj_lW o ejhWi" _cfehjWdj[i Z[iZ[ bk[]e" f[he \k[hW Z[ \eYe [d kdW h[Wb_ZWZ Yece bW dk[ijhW" gk[ j_[d[ YeiWi c|i l_iY[hWb[i gk[ jhWjWh gk[ be Z[ bWi Yehh_ZWi Z[ jehei$ De ^WY[ \WbjW i[h kd ][d_e fWhW fh[]kdjWh# i[ ieXh[ bW YedYehZWdY_W Z[" kdW o ejhW fh[]kdjW" [ _cW]_dWhi[ gk[ fei_Xb[c[dj[ iebe [i kdW fWdjWbbW fWhW Z[il_Wh bW Wj[dY_ÂŒd Z[ j[cWi Z[ cWoeh h[b[lWdY_W Yece bW iWbkZ" [ZkYWY_ÂŒd [djh[ ejhei$ JecWdZe bWi _Z[Wi Z[b fi_YeWdWb_ijW @Wgk[i BWYWd [d kde Z[ iki Z_iYkhiei ieXh[ bW kj_b_ZWZ b_c_jWZW Z[ bWi fWbWXhWi" bWi YkWb[i W be ckY^e j_[d[d Z_[p e gk_p| c|i i_]d_\_YW# Zei W bei ikce 1 ][d[hW WiecXhe bW \WY_b_ZWZ Yed gk[ Wb]kdei ik`[# jei i_jkWZei [d kd bk]Wh Z[ feZ[h" kiWd [iWi fWbWXhWi fWhW WYeceZWh o cWd_fkbWh i_jkWY_ed[i W Yedl[# d_[dY_W Z[ ik \_d[i" i_d _cfehjWh bWi fei_Xb[i Yedi[Yk[dY_Wi ieXh[ bW ][dj[$ I[ h[Wb_pWd e\h[Y_c_[djei W f[hiedWi gk[ i[ [dYk[djhWd [d c[Z_e Z[b Zebeh o i[ `k[]W Yed ik Z[i[if[hWY_ÂŒd" o Wb \_dWb$$$ iebe i[ XkhbWd Z[ [bbei o Z[ iki Z[cWdZWi" [i h[Wbc[dj[ f[hl[hie$
1#2("#-3#ĹŠ !(.- + ĹŠ ĹŠ } (1#!3.1 ĹŠ ĹŠ
"(3.1 ĹŠ #-#1 +
ĹŠ ÂĄ ĹŠ "(3.1ĹŠ #%(.- + ĹŠ "(#/.! ĹŠ Ä“ Ä“ (1#!!(¢-Ä–ĹŠ 4(3.ĹŠÄ‡Ä‰ÄąÄŒÄŽĹŠ#-31#ĹŠ .! $4#13#ĹŠ8ĹŠ .+~5 1 #+_$.-.2Ä–ĹŠĹŠÄ‰ÄŒÄ‰ÄąÄˆÄ?ÄŠÄ‡ĹŠÄľĹŠÄ‰ÄŒÄ‰ÄąÄˆÄ?ÄŠÄˆĹŠÄľ Ä‰ÄŒÄ‰ÄąÄ‰ÄŒÄ‡Ä’ĹŠÄľĹŠÄ‰ÄŒÄ‰ÄąÄ‡ÄŽÄ‰Ä’ĹŠÄľĹŠÄ‰ÄŒÄ‰Ä‡ÄˆÄ’Ä? 7Ä–ĹŠĹŠÄ‰ÄŒÄ‰ÄąÄ‡ÄˆÄ’Ä? 4 +(!(" "Ä–ĹŠÄ‰ÄŒÄ‰Ä‡ÄˆÄ‘ÄŒ 42!1(/!(.-#2Ä–ĹŠÄ‰ÄŒÄ‰ÄąÄˆÄ?ÄŠÄ‡ĹŠÄľĹŠÄ‰ÄŒÄ‰ÄąÄˆÄ?ÄŠÄˆĹŠ , (+Ä–ĹŠ , 3.Äž+ '.1 Ä“!.,Ä“#!  .Ä–ĹŠ ĹŠ .ēŊÄ?ÄŠÄŠÄ?
666ē+ '.1 ē!.,ē#! 23 Ŋ2#!!(¢-Ŋ1#/1#2#-3 Ŋ#+Ŋ/#-Ĺ2 ,(#-3.Ŋ"#Ŋ+.2Ŋ#"(3.1#2ēŊ .2Ŋ#2!1(3.2Ŋ "#Ŋ+.2Ŋ!.+ .1 ".1#2Ŋ2.+.Ŋ!.,/1.,#3#-Ŋ Ŋ242Ŋ 43.1#2Ŋ8Ŋ-.ŊŊ1#Ą#) -Ŋ -#!#2 1( ,#-3#Ŋ#+Ŋ/#-2 Ĺ,(#-3.Ŋ"#+Ŋ/#1(¢"(!.ē
0#. ,)(ŋ &ŋ#(!, -)ŋ ŋ ' (), -ŋ ŋ ,# ŋ. /,#(
.2ũ5##".1#2ũ2#ũ 4 (! 1.-ũ#-ũ+ 2ũ /4#13 2ũ"#ũ(-%1#ı 2.ũ ũ+ ũ + 9 ũ"#ũ .1.2ũ , 3.ē
9kcfb_[dZe Yed bei WYk[h# Zei [ijWXb[Y_Zei [d h[kd_e# d[i Yed [b 9ec_j ?dj[h_dij_# jkY_edWb" [d bW Yed\ehcWY_ d Z[ kdW l[[Zkh W fWhW ^WY[h Ykcfb_h bW WYY_ d Z[ fhej[Y# Y_ d fhe^_X_[dZe [b _d]h[ie W jeZe [if[Yj|Ykbe jWkh_de W d_ ei o d_ Wi c[deh[i Z[ '( W ei" f[hiedWb j Yd_Ye o \kd# Y_edWh_ei Z[b C_d_ij[h_e Z[ ?dYbki_ d ;Yed c_YW o IeY_Wb C?;I fWhj_Y_f ZkhWdj[ [b bj_ce \[h_WZe WfeoWdZe [ijW WYj_l_ZWZ$ ;ijW l[[Zkh W [ijkle Yed# \ehcWZW feh h[fh[i[djWdj[i Z[b C?;I Z[ Jkd]khW^kW" 9edi[`e 9WdjedWb Z[ bW D_ [p o 7Zeb[iY[dY_W" @kdjW 9Wdje# dWb Z[ Fhej[YY_ d Z[ :[h[Y^ei o Fhej[YY_ d 7d_cWb ;YkWZeh F7; YWf jkbe 7cXWje" gk_[# d[i WfeoWhed Wb jhWXW`e Z[ bW :[\[dieh W Z[b Fk[Xbe" gk[ [hW bW [dYWh]WZW" `kdje W bei c_[cXhei Z[b ehZ[d" ^WY[h
Ykcfb_h bWi c[Z_ZWi YWkj[bW# h[i [c_j_ZWi feh [b @k[p 9kWh# je Z[ be BWXehWb Z[ F_Y^_dY^W" fhe^_X_[dZe [b _d]h[ie Z[ d_# ei W bWi Yehh_ZWi$ ;ije" Yed cej_le Z[ bW \_[i# jW WcXWj[ W" ZedZ[ i[ Z[iW# hhebb bW \[h_W jWkh_dW È@[i i Z[b =hWd FeZ[hÉ feh jh[i Z Wi$ I[ Z_Y[ gk[ bWc[djWXb[c[dj[ bW [cfh[iW eh]Wd_pWZehW de Ykcfb_ Yed Wd[nWh [d iki fkXb_YWY_ed[i [d bei c[Z_ei Z[ Yeckd_YWY_ d" ieXh[ bW fhe^_X_Y_ d" feh be gk[ _d_# Y_Wh Wd WYY_ed[i b[]Wb[i [d ik YedjhW$ >Wo gk[ h[YehZWh gk[ bei c_[cXhei Z[ [ijW l[[Zkh W i[ kX_YWhed [d bWi fk[hjWi Z[ _d# ]h[ie W bW FbWpW Z[ Jehei 7c# XWje" ZedZ[ i[ Z_e W YedeY[h W gk_[d[i Z[i[WXWd _d]h[iWh [d YecfW W Z[ d_ ei o d_ Wi c[deh[i Z[ '( W ei" gk[ de be feZ Wd ^WY[h Z[X_Ze W bW l_][dY_W Z[ [ijW Z_ifei_Y_ d dWY_edWb$ F[he" f[i[ W gk[ Wb _d_Y_e [n_ij_[hed _dYedl[d_[dj[i [d [b Ykcfb_c_[dje Z[ [ijW dehcW" \_dWbc[dj[ be]hWhed YedY_[dY_Wh W bW Y_kZWZWd W ieXh[ [ij[ fWhj_YkbWh" gk_[d[i feij[h_ehc[dj[ ceijhWhed bW YebWXehWY_ d h[if[Yj_lW$
$/ ',9,12 1,f2 5HFH 3DGUHQXHVWURV $YHPDUtDV &UHGRV 'XUDQWH GtDV SLGD XQ LPSRVLEOH \ VH OH FRQFHGHUi D~Q VLQ WHQHU IH PDQGH SXEOLFDU DO VpSWLPR GtD * ( 3 &
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
Ĉ
5 +4 !(¢-ũ3_!-(! ũ 87yEI$ BW i[cWdW fWiWZW" ŗũ 7Zh_WdW Ck[bW _ " h[fh[i[d#
ēũ .2ũ-( .2ũ8ũ-( 2ũ$4#1.-ũ(,/#"(".2ũ"#ũ(-%1#2 1ũ ũ+ ũ$#1( ũ3 41(- ũ "#ũ+ ũ!(4" "ũ -3#ũ+ ũ/1#2#-!( ũ"#ũ5##".1#2ē
jWdj[ Z[ bW 7ieY_WY_ d Z[ Ck# d_Y_fWb_ZWZ[i ;YkWjeh_WdWi 7C; " [\[Yjk kdW [lWbkW# Y_ d j Yd_YW ieXh[ bW WYY[i_X_# b_ZWZ [d [b YWdj d 8W ei o bW fheo[YY_ d W \kjkhe [d XWi[ W [ij[ c_ice \WYjeh$
1*0 !" ") 0"/ !" ( *&2"./&! ! 6 *& !" ) 0+ "* 1),(&)&"*0+ (+ /0 (" &!+ "* "( .07 1(+ !"( "$( )"*0+ "*". ( 1/0&010&2+ , . "( *"'+ 3 !)&*&/0. &8* !" &"*"/ !"( " 0+. 9 (& + +)1*& ( ,9 (& + "* $"*". ( -1" /" "* 1"*0. * &*0"."/ !+/ "* ." (&4 . ( "* '"* &8* )"!& *0" +* 1./+ !" #".0 / "* + ." ".. !+ !" /&"0" 2"%7 1(+/ !" /1 ,.+,&"! ! + ." ( /" !" (+ !&/,1"/0+ "* (+/ .07 1(+/ 3 !"( "$( )"*0+ &!7!") ( !&(&$"* & !" .") 0" -1" /" ." (&4 .5 /".5 '+ (+/ /&$1&"*0"/ +*/&!". *!+/ ( (1$ . !7 3 %+. !"( .") 0" t-6("3 "NCBUP 6OJWFSTJEBE 5ÏDOJDB EF "NCBUP VCJDBEP FO MB "W $PMPNCJB Z $IJMF &1! !"( *$ %1. + ,&/+ "* ( ( !" "/&+*"/ !" +*/"'+ *&2"./&0 .&+ t%*" 7JFSOFT EF NBS[P EF t)03" I !"/ .&, &8* +),("0 !" (+/ &"*"/
',$/80 &tD /WGD &2192&$725,$ $ -817$ *(1(5$/ 25',1$5,$ '( 62&,26 '( ³',$/80 &tD /WGD
'H DFXHUGR FRQ OD /H\ GH &RPSDxtDV \ VX UHJODPHQWR DVt FRPR GH FRQIRUPLGDG FRQ ODV GLVSRVLFLRQHV HQ HO $UW 1RYHQR GH VXV (VWDWXWRV &RQYRFDVH D ORV VHxRUHV 6RFLRV GH 'LDOXP &tD /WGD D OD MXQWD *HQHUDO 2UGLQDULD TXH VH UHXQLUi HO GtD YLHUQHV GH PDU]R GHO D ODV K KRUDV HQ ODV RILFLQDV GH OD &RPSDxtD XELFDGDV HQ OD $Y 9tFWRU +XJR V Q \ $Y $WDKXDOSD SDUD WUDWDU ORV VLJXLHQWHV SXQWRV &RQRFHU \ UHVROYHU VREUH ORV LQIRUPHV GH ORV $GPLQLV WUDGRUHV GH OD &RPSDxtD UHODWLYRV DO HMHUFLFLR HFRQyPLFR GHO &RQRFHU \ UHVROYHU VREUH HO LQIRUPH GHO &RPLVDULR SRU HO PLVPR HMHUFLFLR HFRQyPLFR &RQRFHU \ UHVROYHU VREUH HO %DODQFH *HQHUDO \ HO (VWDGR GH 3pUGLGDV \ *DQDQFLDV SRU HO HMHUFLFLR HFRQyPLFR GHO \ 5HVROXFLyQ VREUH HO GHVWLQR GH ODV XWLOLGDGHV (VSHFLDO H LQGLYLGXDOPHQWH VH FRQYRFD DO &RPLVDULR 6U $OH[ 6XDVQDYDV $PEDWR GH 0DU]R GHO
/FGR $UWXUR 6XDVQDYDV 6 *(5(17(
( 2 (+. /" !"( .") 0" t&M WBMPS RVF TF FODVFOUSB FTUJQVMBEP FO MB EFTDSJQDJØO EF DBEB WFIÓDVMP ! ( (1$ . !7 / 3 %+. / "* -1" ,1"! * /". +*+ &!+/ t-VHBS 1BUJPT EF MB JOTUJUVDJØO t%ÓBT .BSUFT NJÏSDPMFT EF NBS[P EF t)PSBT I B I t$POUBDUP *OH $BUBMJOB 1VFOUF " ( .") 0" /" (+ ." (&4 .5 "* /+ ." ".. !+ ( + ." ".. !+ +*0"*!.5 ( +#".0 1 !")5/ "( !&"4 ,+. &"*0+ !"( 2 (+. !" ! 1* !" "(( / "* !&*".+ "#" 0&2+ + %"-1" ".0&: !+ 0+! ,.+,1"/0 /".5 &* +*!& &+* ( 3 *+ ,+!.5 +#." ". "( , $+ !" ,( 4+/ +/ /+ ."/ ".. !+/ /" ." & &.5* "* ( " ."0 .7 !" ( 1*0 % /0 "( '1"2"/ !" ) .4+ !"( I FO MB PöDJOB EF 1SPDVSBEVSÓB EF MB *OTUJUVDJØO VCJDBEB FO FM EP 1JTP EFM &EJöDJP #FUB ),1/ !" *$ %1. + ) 0+ !" ) .4+ !"
ĉ
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
/ $ ./, ŋ (.#( , .# )-ŋ /( #)( ,6ŋ (ŋ (. (ŋ )-
&203$fÌ$ 1875,&,21 6$/(6 \ 0,1(5$/(6 1875,6$/0,16$ 6 $
&2192&$725,$
'H FRQIRUPLGDG FRQ OR GLVSXHVWR HQ OD OH\ GH &RPSDxtDV \ HO (VWDWXWR 6RFLDO VH FRQYRFD D OD VHVLyQ GH -XQWD *HQHUDO 2UGLQDULD GH $FFLRQLVWDV GH OD &RPSDxtD 1XWULFLyQ 6DOHV \ 0LQHUDOHV 1875,6$/0,16$ 6 $ D UHDOL]DUVH HO GtD /XQHV GH 0DU]R GHO D ODV KRUDV HQ HO ORFDO GH HPSUHVD XELFDGR HQ HO SDUTXH LQGXVWULDO FDOOH \ $Y ' 'H PDQHUD HVSHFLDO VH FRQYRFD DO ,QJ &RP 2VZDOGR 5HLQRVR &RPLVDULR UHYLVRU GH OD &RPSDxtD /D -XQWD FRQRFHUi \ UHVROYHUi ORV VLJXLHQWHV SXQWRV ,QIRUPH GH 3UHVLGHQWH ,QIRUPH GH *HUHQWH ,QIRUPH GH &RPLVDULR 5HYLVRU VREUH HO HMHUFLFLR HFRQyPLFR ,QIRUPH GH $XGLWRULD ([WHUQD GHO DxR &RQRFLPLHQWR \ $SUREDFLyQ GHO %DODQFH *HQHUDO \ (VWDGR GH 5HVXOWDGRV GHO (MHUFLFLR (FRQyPLFR 'HVWLQR GH 5HVXOWDGRV GHO HMHUFLFLR (FRQyPLFR 1RPEUDPLHQWR \ 5HPXQHUDFLyQ GHO &RPLVDULR 5HYLVRU &RQWUDWDFLyQ GH $XGLWRULD ([WHUQD SDUD HO DxR &RQRFLPLHQWR \ $SUREDFLyQ GH XQ ERQR GH JHVWLyQ DGPLQLV WUDWLYR SDUD OD *HUHQFLD GH OD FRPSDxtD
#%Ì-ũ -3(- 1!¢3(ı !.2ũ#+ũ!.-24,.ũ"#ũ "1.% ũ#-ũ#23#ũ! -ı 3¢-ũ(-(!( ũ ũ/ 13(1ũ "#ũ+.2ũĈĊũ .2ē ē Feh i[]kh_ZWZ Z[ bei jk#
h_ijWi gk[ l_i_jWd [ij[ YWdj d" IWdj_W]e IWdjWYhkp" YWf_j|d Z[ Feb_Y W o ;dh_gk[ BkdW" l_Y[Wb# YWbZ[" WYehZWhed bW Yh[WY_ d Z[ bW IkX`[\WjkhW 7dj_dWhY j_Yei Z[ 8W ei" gk[ i[ [dYWh]Wh| Z[ Yed# jhebWh bW fhefW]WY_ d Z[b Yedik# ce Z[ Zhe]W$ ;ijW dej_ÒYWY_ d i[ XWi [d bW h[iebkY_ d d c[he (&''#''*# 9i=#FD Z[b 9edi[`e Z[ =[d[# hWb[i Z[ bW Feb_Y W DWY_edWb" bW i[cWdW fWiWZW$ BW fh[i[dY_W Z[ bW kd_ZWZ [i# f[Y_Wb_pWZW [d [ijkf[\WY_[dj[i" h[]kbWh| [b Yedikce Z[ Zhe]W" ieXh[ jeZe [d c[deh[i Z[ [ZWZ" Z[X_Ze W gk[ i[ ^W _dYh[c[djWZe ZkhWdj[ bei bj_cei W ei" Wi[]k# h [b l_Y[WbYWbZ[ BkdW$
-ũ+.ũ04#ũ #-#ă!( ũ
7i_c_ice" IWdjWYhkp Z[ijWY bW _cfehjWdY_W Z[ [ijW Z[f[dZ[d# Y_W [d bW Y_kZWZ c|i jkh ij_YW Z[ Jkd]khW^kW" h[iWbjWdZe bW fh[Z_ifei_Y_ d Wb jhWXW`e [d [b Wif[Yje fh[l[dj_le$
$PEDWR GH PDU]R GHO
,QJ 0DUWtQ 1DUDQMR *(5(17( *(1(5$/
ēũ #/1#2#-3 -3#2ũ"#ũ -3(- 1!¢3(!.2ũ8ũ"#ũ+ ũ (!# +! +"~ ũ"#ũ .2ũ ++#% 1.-ũ4-ũ!.-2#-2.ē
;ijW Z[f[dZ[dY_W YedjWh| Yed [\[Yjei Z[b Yedikce Z[ [ijkf[# kd eÒY_Wb gk[ [ijWh| Wb cWdZe \WY_[dj[i$ Z[ eY^e W][dj[i [if[Y_Wb_pWZei [d Wdj_dWhY j_Yei$ 9ed bW Yh[WY_ d Z[ bW kd_ZWZ Wdj_dWhY j_Yei" jWcX_ d i[ fed# Zh| [d cWhY^W bei i[hl_Y_ei Z[0 '.&& :HE=7I" b d[Wi Z_h[YjWi Z[ Z[dkdY_Wi" fh[l[dY_ d" Yed#
ũ 4 )#$ 341 ũ -3(- 1!¢3(!.2ũ"#ũ jheb" bkY^W YedjhW [b [nf[dZ_e" .2ũ/1#3#-"#ũ1#3., 1ũ +%4-.2ũ [djh[ ejhWi$ 5 +.1#2ũ 2 ".2ũ#-ũ#+ũ, 1!.ũ+#% +ũ8ũ BkdW h[_j[h [b Wfeoe _dYed# 2/#!3.2ũ,.1 +#2ēũ Z_Y_edWb Z[ bW Ckd_Y_fWb_ZWZ Z[ ũ,;2ũ"#ũ#2.Ĕũ31 ) 1;ũ#-ũ/1.!#2.2ũ 8W ei" Yed [b Òd Z[ [cfh[dZ[h "#ũ1#' (+(3 !(¢-ũ8ũ1#(-2#1!(¢-ũ"#ũ kdW YWcfW W Z[ fh[l[dY_ d [d /#12.- 2ũ04#ũ' -ũ! ~".ũ#-ũ+ ũĥ% 11 2Ħũ bei ` l[d[i" Y^WhbWi" YWkiWi o "#ũ+ 2ũ"1.% 2ē
1 ).2ũ #23 +#!(".2 ŗũ
ŋ ,# ŋ &ŋ"/ 0)ŋ (ŋ ). & ŋ -. ŋ )'#(!) &2175$/25,$ *(1(5$/ '(/ (67$'2 ',5(&&,21 5(*,21$/ ,19,7$&,21 $ 3$57,&,3$5 (1 (/ &8562 '( ³&21752/ ,17(512´ 0,6,21 ³6RPRV HO 2UJDQLVPR 7pFQLFR HQFDUJDGR GHO FRQWURO GH OD XWLOL]DFLyQ GH ORV UHFXUVRV HVWDWDOHV \ OD FRQVHFXFLyQ GH ORV REMHWLYRV GH ODV LQVWLWXFLRQHV GHO (VWDGR \ GH ODV GHPiV SHUVRQDV MXUtGLFDV GH GHUHFKR SULYDGR TXH GLVSRQJD GH UHFXUVRV S~EOLFRV´ 9,6,21 ³(Q HO OD &RQWUDORUtD *HQHUDO GHO (VWDGR VHUi 8Q RUJDQLVPR PRGHOR GH JHVWLyQ PRGHUQR \ FRQIL DEOH IXQGDPHQWDGR HQ SULQFLSLRV GH pWLFD WUDQVSDUHQFLD FDOLGDG \ HQIRTXH KDFLD ORV UHVXOWDGRV TXH JDUDQWLFHQ D OD FLXGDGDQtD HFXDWRULDQD HO HILFLHQWH FRQWURO GH ORV UHFXUVRV S~EOLFRV ´
$ Bei fheZkYjeh[i Wl Ye#
bWi Z[ [ij[ YWdj d WfkdjWd W bW Fh_c[hW <[h_W Z[b >k[le 9ejWb (&''" gk[ i[ Z[iWhhebbWh| [b Ze# c_d]e ') Z[ cWhpe" Z[iZ[ bWi &/0&&" [d [b 9eb_i[e 9[djhWb$ 7Z[c|i" _dY[dj_lWh|d bW l_i_# jW Z[ Y_[djei Z[ fheZkYjeh[i Z[ jeZe [b fW i Wb _]kWb gk[ Yedik# c_Zeh[i o YecfhWZeh[i Z_h[Y# jei" ^WY_W [ij[ bk]Wh d[jWc[dj[ fheZkYj_le$ CWdk[b 9W_pWXWdZW" WbYWbZ[ Z[ F[b_b[e" _dl_j Wb f Xb_Ye W [ij[ cW]de [l[dje Z[ fheZkYY_ d o
Z[ [cfh[dZ_c_[dje" Wb _]kWb gk[ W bei c[Z_ei Z[ Yeckd_YWY_ d" Yed [b Òd Z[ gk[ Z_\kdZWd [b [l[dje$ BW 7ieY_WY_ d Z[ FheZkYjeh[i 7l YebWi Z[ F[b_b[e" eh]Wd_pWZeh Z[b [l[dje" [ijWh| h[fh[i[djWZW feh c|i Z[ )& fk[ijei o h[kd_h| W c|i Z[ '+& fheZkYjeh[i$ BW \[h_W ZkhWh| jeZe [b Z W Zec_d]e" c_[djhWi gk[ W fWhj_h Z[ bWi ',0&& WhhWdYWh| kd i^em Whj ij_Ye Yed c i_YW o Yebeh_Ze [d [b [iY[dWh_e" gk[ i[h| Z[ ]hWd WjhWYj_le$
&8562 ³&21752/ ,17(512´ )(&+$ \ GH 0DU]R 9$/25 ,9$ +25$5,2 D /2&$/ $XOD GH &DSDFLWDFLyQ GH OD 'LUHFFLyQ 5HJLRQDO 5(48,6,726 +DEHU DSUREDGR HO FXUVR GH ³*HVWLyQ 3~EOLFD \ &RQWURO 6RFLDO´
/LF %\URQ 3DFKHFR & ',5(&725 5(*,21$/
¡ ēũ +ũ'4#5.ũ2#1;ũ#+ũ/1(-!(/ +ũ/1."4!3.ũ"#ũ#23 ũ$#1( ũ- !(.- +ē
ŋ,  ,6ŋ /( ŋ 0 &/ # (ŋ (ŋ (. (ŋ ) ē
H[fh[i[djWdj[i Z[ bW 7ieY_WY_ d Z[ Ckd_Y_# fWb_ZWZ[i ;YkWjeh_WdWi 7C; [\[YjkWhed kdW [lW# bkWY_ d j Yd_YW ieXh[ [b Yh[# Y_c_[dje o Z[iWhhebbe Z[ [ij[ YWdj d o bW fheo[YY_ d W \k# jkhe$ 7Zh_WdW Ck[bW" h[fh[i[d# jWdj[ Z[ bW 7C;" h[iWbj [b jhWXW`e gk[ i[ Ykcfb[ [d [b YWdj d$ CWd_\[ij gk[ [ijei h[Yehh_Zei Z[ [lWbkWY_ d [i# j|d Yedj[cfbWZei Z[djhe Z[ bWi ÈC[`eh[i Fh|Yj_YWi I[YY_e# dWb[i Z[ =eX_[hdei 7kj de# ceiÉ$ BW :_h[YY_ d Z[ Jkh_ice Z[b ÈF[ZWY_je Z[ 9_[beÉ \k[ [b eh]Wd_ice fWhj_Y_fWj_le gk[ h[fh[i[dj W bei XWd[ ei" be]hWdZe YehheXehWh Z_Y^W fheZkYY_ d gk[ i[ fh[i[djW# h W W bWh]e fbWpe$
(1#ũ242ũ$.3.2ũ#-Ė 666ē+ '.1 ē!.,ē#!
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
Ċ
($ 1.-ũ /1#,(.2 &ŋ-/* ,' , )ŋ , #ē-ŋ,  ŋ &ŋ-),. )ŋ ŋ /&)-)-ŋ*, Ě '#)-ŋ*),ŋ &ŋ' -ŋ &ŋ '),ŋ3ŋ& ŋ '#-. Ąŋ ŋ! (. ŋ / # ŋ ŋ-/-ŋ #(-. & #)( -ŋ (ŋ &ŋ- .),ŋ ŋ ŋ # .),# ŋ* , ŋ- ,ŋ* ,.v #* ŋ ŋ -. ŋ!, (ŋ )(. #'# (.)Ą 14/.ũ"#ũ31 ) ".1#2ũ"#ũ24/#1,#1! ".ũ 1!(Ħ2ũ04#ũ"(1(%#-ũ242ũ+ .1#2ũ' !( ũ#+ũ!.-$.13ũ"#ũ242ũ!+(#-3#2ē
-3( %.ũ ;-!'#9ũ8ũ ,#+ ũ .+~2ũ!.+ .1 ".1#2ũ"#+ũ24/#1,#1! ".ũ04#ũ.1% ı -(9¢ũ#23#ũ#5#-3.ē
.$~ ũ (2 -!'#ũ8ũ 81 ũ 19 ++.ũ31 ) -ũ#-ũ+ ũ24!412 +ũ"#ũ 3 !4-% ũ8ũ 5(-(#1.-ũ ũ/1#2#-!( 1ũ#23#ũ#5#-3.
1(*ũ ¢1". Ĕũ 1~ ũ 2 #+ũ 9 ũ8ũ +.ũ #+(ũ2#ũ!.-%1 34+ 1.-ũ/.1ũ#-31#% 1ũ+.2ũ/1#,(.2ũ ũ242ũ!+(#-3#2ē
1.%1 , ũ 1 "( +ũ (--.5 ".1 .22 - ũ 4#(1.+.ũĸ!Ĺũ )4-3.ũ ũ+ 2ũ!.-"4!3.1 2ũ "#+ũ/1.%1 , ũĥ #1, ı -.2ũ"#ũ #-%4 Ħũ 1+ ũ ¢,#9ũ8ũ 81 ũ 231#++ Ĕũ !.,/ 13(#1.-ũ4- ũ ,#- ũ!.-5#12 !(¢-ēũ .22 - ũ$4#ũ#+ũ/#12.- ı )#ũ#2/#!( +ũ(-5(3 ".ũ#-ũ 1 "(.ũ ,.1ē
4+(- ũ (9 1#2ũ8ũ .1(2ũ (,_-#9ũ 3(#-"#-ũ ũ+.2ũ!+(#-3#2ũ!.-ũ , (+(ı " "ē /,./&
āĀ
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
# ũ(-$.1, !(¢666ē+ '.1 ē!.,ē#!
-ũ +,4#19.ũ /.1ũ+ ũ$(#23
/.),# -ŋ ŋ& ŋ #/ ąŋ*,)0#( # ŋ3ŋ &ŋ* v-ŋ* ,.# #* ,)(ŋ (ŋ/(ŋ &'/ ,4)ŋ* , ŋ & , ,ŋ& ŋ # -. ŋ ŋ& ŋ ,/. ŋ3ŋ ŋ& -ŋ &), -ŋüúûûĄŋ -. ŋ 0 (.)ŋ- ŋ,  ŋ (ŋ &ŋ & (ŋ , *)&#-ŋ &ŋ ). &ŋ -#()ŋ '* , ),Ąŋ
,(1.ũ #+ Ĕũ1#+ !(.- ".1ũũ/Ì +(!.ũ"#+ũ 4-(!(/(.ũ"#ũ , 3.ėũ 4 -ũ 4(2#-Ĕũ#, ) ".1ũ"#ũ '(- ėũũ #1- -".ũ 1 -).Ĕũ/1#ı $#!3.ũ"#ũ 4-%41 '4 ėũ #1- -".ũ ++#) 2Ĕũ +! +"#ũ"#ũ , 3.ėũ8ũ 4ũ -,(-Ĕũ31 "4!3.1ėũ/ 2 1.-ũ,.,#-3.2ũ(-.+5(" +#2ũ #-ũ#23 ũ1#4-(¢-ē 8-3'( ũ (3#1(Ĕũ --8ũ ;2!.-#9Ĕũ (1( -ũ -3(++;-Ĕũ 104(-.ũ ;2!.-#9ũ8ũ 4 -ũ
.9 ũ"(2$143 1.-ũ"#ũ#23#ũ +,4#19.ēũ
#.!.-" ũ +3.2Ĕũ .+#" "ũ 4# 2ũ8ũ 1!#+ ũ -"(-.ũ 43.1(" "#2ũ(-5(3 " 2ũ +ũ #5#-3.ēũ
(1.ũ ¢,#9Ĕũ 1 -!(2!.ũ ++#) 2Ĕũ (,#ũ ¢/#9Ĕũ .2_ũ +#1.Ĕũ 1#-#ũ +#1.Ĕũ (+" ũ (#1 ũ8ũ 13' ũ -"1 "#ũ!#+# 1 1.-ũ+ ũ ăũ#23 ũ , 3# ũ#-ũ#23#ũ +,4#19.ēũ
48ũ -(, ".2ũ#2345(#1.-ũ 4+( ũ 1#"#2Ĕũ 1% 1(3 ũ"#ũ ;-!'#9Ĕũ (1( ,ũ 1ı !( +Ĕũ +#7ũ #5 ++.2Ĕũ 1!#+.ũ 11(% Ĕũ 1+.2ũ ;-!'#9Ĕũ 4 -ũ 1 -!(2!.ũ + , ũ#ũ 5;-ũ +3 ,(1 -.ē
,,8ũ (+2.-Ĕũ ! 1#- ũ ,.2Ĕũ +.,_ũ 1~-ũ8ũ (! #+ ũ (++ !~2ũ/ 13(!(/ı 1.-ũ !3(5 ,#-3#ũ#-ũ+ 2ũăũ#23 2ũ"#ũ , 3.ēũ
#1-;-ũ .11#2Ĕũ (+5( ũ !' -.Ĕũ %- !(.ũ 1% 2ũ8ũ #1- -".ũ 1 -).ũ .+%4~-ũũ./(- 1.-ũ04#ũ+ ũăũ#23 ũ , 3# ũ#2345.ũ ,48ũ+(-" ēũ
#228ũ +3 ,(1 -.Ĕũ 1~ ũ #!(+( ũ ;Ĕũ 1~ ũ #1- -" ũ .2#1.Ĕũ #!(+( ũ ;2!.-#9Ĕũ ,(;-ũ ı ,.2ũ8ũ 1#""8ũ 15;#9ũ 2(23(#1.-ũ%423.2 ı ,#-3#ũ ũ#23#ũ +,4#19.ēũ 1~ ũ .2_ũ + 9 1Ĕũ 1~ ũ .2_ũ .204#1 Ĕũ -"1# ũ .204#1 Ĕũ 1(#+ ũ ¢/#9ũ 8ũ , -3 ũ + 9 1Ĕũ#-% + - 1.-ũ#+ũ#5#-3.ēũ
ƒ Ä
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
7 Ĺ?Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
' ,! ( # Ĺ‹* , š &Ĺ‹- .),Ĺ‹* .,)& ,) :[X_Ze W bW Wb[hjW Z[ jikdWc_ [d bW 9eijW Z[b FWY‡Ò Ye" [d [b ;YkW# Zeh i[ ikif[dZ_[hed bWi [nfeh# jWY_ed[i Z[ YhkZe o Z[h_lWZei" Wi‡ Yece bWi _cfehjWY_ed[i Z[ YecXkij_Xb[i$ BW c[Z_ZW i[ Z_ifkie Wb c[# Z_eZ‡W Z[ Wo[h" XW`e [b Yh_j[h_e Z[ gk[ ZkhWh‡W ^WijW gk[ [b [l[dje dWjkhWb j[hc_d[$ BWi Wkjeh_ZWZ[i [ij_cWhed [b h[_d_Y_e Z[ bWi WYj_l_ZWZ[i fWhW ^eo" [d [b YWie gk[ ^WijW bW de# Y^[ Z[ Wo[h de ikY[Z‡W dWZW$ CWhYe 9Wblef_‹W" ][h[dj[ Z[ F[jhe[YkWZeh" [nfb_YÂŒ gk[ i[ fW# hWb_pWhed jeZWi bWi ef[hWY_ed[i cWh‡j_cWi ^_ZheYWhXkh‡\[hWi [d Wb_d[Wc_[dje Wb Z[Yh[je Z[ ;ijW# Ze Z[ ;nY[fY_ÂŒd o feh i[]kh_ZWZ Z[ bWi [cXWhYWY_ed[i o j[hc_dW# b[i cWh‡j_cei$ .3(ÄƒĹŠ! !(.-#2
23#!(,(#-3.ĹŠ -.1, + Ĺ—ĹŠĹŠ
1!.Ŋ +5./( ĔŊ%#1#-3#Ŋ"#Ŋ #31.#!4 ".1ĔŊ% 1 -3(9¢Ŋ#+Ŋ 23#!(Ĺ ,(#-3.Ŋ-.1, +Ŋ"#Ŋ+.2Ŋ!., 423( +#2Ŋ / 1 Ŋ#+Ŋ,#1! ".Ŋ(-3#1-.ēŊ , (_-Ŋ 2#%41¢Ŋ04#Ŋ2(Ŋ-.Ŋ24!#"~ Ŋ- " Ŋ' 2Ĺ 3 Ŋ+ Ŋ-.!'#Ŋ"#Ŋ 8#1ĔŊ+ Ŋ/1."4!!(¢-Ŋ"#Ŋ !14".Ŋ2#Ŋ, -3#-"1~ Ŋ#-Ŋ+.2Ŋ-(5#+#2Ŋ -.1, +#2ēŊ
3.2
31 2ĹŠ,#"(" 2 ĹŠ -ĹŠ+ ĹŠ1#ÄƒĹŠ-#1~ ĹŠ ĹŠ ( #13 "ĹŠ3 , (_-ĹŠ2#ĹŠ Ĺ—"(2/42(#1.-ĹŠ,#"(" 2ĹŠ/1#5#-3(5 2ĔŊ"# (".ĹŠ ĹŠ04#ĹŠ2#ĹŠ#-!4#-31 ĹŠ,;2ĹŠ!#1! ĹŠ"#+ĹŠ/#1ÄƒĹŠ+ĹŠ !.23#1.Ä“
-Ŋ#2 Ŋ/+ -3 Ŋ2#Ŋ#5 !4¢Ŋ +Ŋ/#12.- +Ŋ ",(-(231 3(5.Ŋ -3#2Ŋ"#+Ŋ,#"(."~ Ŋ8Ŋ#+Ŋ /#12.- +Ŋ./#1 3(5.Ŋ2#Ŋ04#"¢Ŋ!.-Ŋ+ Ŋ.1"#-Ŋ "#Ŋ#5 !4 1Ŋ#-Ŋ#+Ŋ! 2.Ŋ"#Ŋ2#1Ŋ-#!#2 1(.ē
FWhW [b Ykcfb_c_[dje Z[ bW Z_i# fei_Y_ÂŒd" F[jhe[YkWZeh [dl_ÂŒ dej_\_YWY_ed[i W bWi [cfh[iWi -ĹŠ+ ĹŠ1#ÄƒĹŠ-#1~ ĹŠ"#ĹŠ 2,#1 +" 2ĔŊ"# (".ĹŠ ĹŠ 04#ĹŠ2#ĹŠ#-!4#-31 ĹŠ +#) " ĹŠ"#ĹŠ+ ĹŠ!.23 ĔŊ-.ĹŠ gk[ i[ Z[Z_YWd W WYj_l_ZWZ[i Z[ 2#ĹŠ#5 !4¢Ŋ/#1.ĹŠ2#ĹŠ! , ( 1.-ĹŠ+.2ĹŠ341-.2ĹŠ ĹŠ YWXejW`[ o jhWdifehj[ cWh‡j_ce 4-.ĹŠ2¢+.ēŊ Z[ ^_ZheYWhXkhei Yed [b YWh|Yj[h Z[ i_jkWY_ÂŒd Z[ \k[hpW cWoeh e YWie \ehjk_je$ ,/.13 !(.-#2 DehcWbc[dj[ [b fW‡i [nfehjW 9ed bW c[Z_ZW jWcX_ƒd i[ iki# Wb Z‡W Wbh[Z[Zeh Z[ ),& c_b XW# f[dZ_[hed Zei Z[i[cXWhgk[i hh_b[i Z[ YhkZe" (*& c_b XWhh_b[i Z[ Z_ƒi[b o dW\jW gk[ [ijWXWd Z[ Z[h_lWZei$ ;d YkWdje W _c# [d ef[hWj_le [d bWi j[hc_dWb[i fehjWY_ed[i ied Wbh[Z[# Z[ ;ic[hWbZWi o bW B_# Zeh Z[ (.& c_b XWhh_b[i$ X[hjWZ$ 9Wblef_‹W i[# ĹŠ 7kdgk[ Wo[h de i[ ‹WbÂŒ gk[ i[ Z_ifkie [b j[d‡W fh[l_ije b[lWdj[i h[j_he Z[ bei Xkgk[i o #13 "ĹŠ3(#-#ĹŠ ik h[jehde W W]kWi c|i Z[ YhkZe fWhW l[dZ[h" ĹŠ ( 4- ĹŠ! 1% ĹŠ"#ĹŠ 9Wblef_‹W _dZ_YÂŒ gk[ fe# !14".ĹŠ"( 1( ĹŠ"#ĹŠ fhe\kdZWi ^WijW dk[lW i_Xb[c[dj[ i[ h[jhWiWh‡W +1#"#".1ĹŠ"#ĹŠ ehZ[d$ ÄŒÄ‰Ä“Ä‡Ä‡Ä‡ĹŠ 11(+#2Ä“ kdW l[djW fbWd_\_YWZW ;b ][h[dj[ Z[ F[jhe[# fWhW ^eo$ I[ jhWjW Z[ Yhk# YkWZeh WYbWhÂŒ gk[ bei Ze Z[ ;Yef[jheb o F[jheY^_dW feh Xkgk[i [ij|d XW`e kdW [if[Y_[ ),& c_b XWhh_b[i '+& c_b o ('& Z[ YkWh[dj[dW o gk[ ÆcW‹WdW i[ c_b XWhh_b[i h[if[Yj_lWc[dj[ $ h[ijWXb[Y[h‡W jeZeÇ$
¥ ēŊ #Ŋ/1.'( (¢Ŋ+ Ŋ5#-3 Ŋ"#Ŋ!., 423( +#Ŋ/ 1 Ŋ#5(3 1Ŋ04#Ŋ+.2Ŋ/#2! ".Ĺ 1#2Ŋ 13#2 - +#2Ŋ2 +% -Ŋ"#Ŋ$ #- ēŊ
ÂĄ ēŊ (3 -3#2ĹŠ"#+ĹŠ/#1ÄƒĹŠ+ĹŠ!.23#1.ĹŠ8ĹŠ +;/ %.2ĹŠ2 +(#1.-ĹŠ"#ĹŠ+ 2ĹŠ9.- 2ĹŠ"#ĹŠ/#+(%1.Ä“
) -Ĺ‹& -Ĺ‹ & ,. -Ĺ‹ / ,)( .#0 -Ĺ‹*),Ĺ‹.-/( '# #ĹŠ3#-~ ĹŠ/1#5(23.ĹŠ04#ĹŠ+ 2ĹŠ.+ 2ĹŠ#-ĹŠ Äą +;/ %.2ĹŠ +! -!#-ĹŠÄ‰Ä”ÄŒÄŽĹŠ,#31.2ĹŠ8ĹŠ#-ĹŠ+ ĹŠ !.23 ŊĉĔĎŊ,#31.2Ä“
04~ĹŠ-.ĹŠ/."~ ,.2ĹŠ!.Äą ;YkWZeh jkle kdW h|f_ZW h[WY# 11#1ĹŠ-(-%ĂŒ-ĹŠ1(#2%.ĔŊ2#ĹŠ Y_ÂŒd Wdj[ bW Wb[hjW Z[ jikdWc_ ' ĹŠ'#!'.ĹŠ+.ĹŠ!.11#!3.ĔŊ [c_j_ZW feh [b 9[djhe Z[ 7Zl[h# j[dY_Wi Z[ JikdWc_i Z[b FWY‡Ò # 2#ĹŠ' ĹŠ'#!'.ĹŠ (#-ĹŠ8ĹŠ!.-ĹŠ+ ĹŠ -4#5 ĹŠ(-$.1, !(¢-ĹŠ5 ,.2ĹŠ Ye bW cWZhk]WZW Z[ Wo[h$ BWi WbWhcWi [d bWi YeijWi Z[ ĹŠ(1ĹŠ#5 +4 -".ĹŠ+ 2ĹŠ"#!(2(.Äą bei fW‡i[i Z[b FWY‡Ò Ye i[ WYj_lW# -#2ĹŠ04#ĹŠ2#ĹŠ3.,#-Ģē hed Z[X_Ze W bei [\[Yjei Z[b i_i# ce Z[ ."/ ]hWZei Z[ cW]d_jkZ ĹŠ ĹŠ ĹŠ ĹŠ Ă‹ eYkhh_Ze [d @WfÂŒd$ 7dj[ bW fei_Xb[ bb[]WZW Z[ C_d_ij[h_e Z[ ?dYbki_ÂŒd ;YedÂŒ# \k[hj[i ebWi" [b ;ijWZe [YkWje# c_YW o IeY_Wb C?;I WYj_lÂŒ ,& h_Wde Z[ifb[]ÂŒ kd Wcfb_e ef[# WbX[h]k[i [d bW h[]_ÂŒd Yeij[hW o hWj_le fWhW [lWYkWh W bWi Y[hYW Z[ij_dÂŒ Y[hYW Z[ '$.&& hWY_ed[i Z[ )&& c_b f[hiedWi gk[ ^WX_# Wb_c[dj_Y_Wi fWhW Wj[dZ[h W bW feXbWY_ÂŒd$ jWd Wb Ă’ be Yeij[he Z[b fW‡i$ BW fh_c[hW c[Z_ZW WZefjWZW 7Z[c|i" i[ ^WX_b_jWhed Wb# feh [b fh[i_Z[dj[ HW\W[b 9ehh[W X[h]k[i Z[ [c[h][dY_W [d [b \k[ bW Z[YbWhWjeh_W Z[b [ijWZe Z[ WhY^_f_ƒbW]e Z[ =Wb|fW]ei Yed [nY[fY_ÂŒd ^WijW feh ,& Z‡Wi$ ÆI_ kdW YWfWY_ZWZ Wfhen_cWZW Z[ de fWiW dWZW" gkƒ Xk[de" f[he '( c_b f[hiedWi$ de feZ[cei Whh_[i]Wh l_ZWi ^k# cWdWiÇ" WĂ’ hcÂŒ [b @[\[ Z[ ;ijW# 1 ).ĹŠ#-ĹŠ2 +4" Ze" gk_[d f_Z_ÂŒ bW Yeef[hWY_ÂŒd ;b c_d_ijhe Z[ IWbkZ" :Wl_Z 9^_# Z[ jeZei bei feXbWZeh[i o WZl_h# h_Xe]W" WdkdY_ÂŒ bW [lWYkWY_ÂŒd j_ÂŒ gk[ de WY[fjWh| Æd[]b_][d# Z[ fWY_[dj[i o f[hiedWb cƒZ_Ye Y_Wi d_ d[Y[ZWZ[iÇ$ Z[ bei ^eif_jWb[i Z[ bWi 9ehh[W h[YedeY_ÂŒ gk[ pedWi [d h_[i]e$ ĹŠ Æ;YkWZeh de [ij| fh[# <|j_cW <hWdYe" ikX# fWhWZe fWhW kd i_ice i[Yh[jWh_W Z[ IWbkZ Z[ 404#2ĹŠ04#ĹŠ Yece [b Z[ @WfÂŒd" d_ c[# .2ĹŠ bW H[]_ÂŒd ?dikbWh" eh# #23 -ĹŠ 31 ! Äą deh[iÇ Z[X_Ze W gk[ bWi ".2ĹŠ#-ĹŠ/4#13.2ĹŠ Z[dÂŒ gk[ i[ [lWYkWhW (#Äą YedijhkYY_ed[i Z[b fW‡i "#+ĹŠ/ ~2ĹŠ1#!( W jeZei bei [d\[hcei 1.-ĹŠ+ ĹŠ.1"#-ĹŠ"#ĹŠ 2 +(1ĹŠ ĹŠ +3 ĹŠ, 1ēŊ de ied Wdj_i‡ic_YWi$ ^eif_jWb_pWZei [d Y[d# F[i[ W [bbe" [d\Wj_pÂŒ jhei cƒZ_Yei gk[ [ijƒd gk[ Yed bW Yh[WY_ÂŒd Z[ bW ^WijW + a_bÂŒc[jhei Z[ bW I[Yh[jWh‡W DWY_edWb Z[ =[ij_ÂŒd b‡d[W Z[ bW fbWoW$ Z[ H_[i]ei ID=H " i[ ^Wd c[# FWiWZe [b c[Z_eZ‡W [d =W# `ehWZe bWi WYY_ed[i o h[WYY_ed[i b|fW]ei i[ [lWYkÂŒ W bei [d\[h# Wdj[ i_jkWY_ed[i Z[ h_[i]e" f[he cei Z[b ^eif_jWb âiYWh @WdZb" WYbWhÂŒ gk[ ^Wo gk[ i[]k_h jhWXW# [d IWd 9h_ijÂŒXWb o \k[hed jhWi# `WdZe [d bW fh[l[dY_ÂŒd$ bWZWZei W pedWi WbjWi$ 7Z[c|i" i[ Z_ifkie bW ce# l_b_pWY_ÂŒd Z[b f[hiedWb cƒZ_Ye + #1%4#2ĹŠ#23 -ĹŠ+(23.2 JhWi YedeY[h bW [c[h][dY_W" [b gk[ bWXehW [d bW i[hhWd‡W ^WY_W
+ 2ĹŠ%.+/# 1.-ĹŠ ĹŠ +;/ %.2 Ĺ—ĹŠĹŠ
ĹŠ+ 2ĹŠÄˆÄ’Ä–ÄŠÄ‡Ä”ĹŠ"41 -3#ĹŠ4- ĹŠ14#" ĹŠ "#ĹŠ/1#-2 ĔŊ#+ĹŠ/1#2("#-3#ĹŠ $ #+ĹŠ .11# ĹŠ!.-ÄƒĹŠ1,¢Ŋ04#ĹŠ'4 .ĹŠ.+ 2ĹŠ04#ĹŠ (-%1#2 1.-ĹŠ ĹŠ+ 2ĹŠ9.- 2ĹŠ41 - 2ĹŠ"#ĹŠ + ĹŠ(2+ 2ĹŠ 2 #+ ĹŠ8ĹŠ -ĹŠ 1(23¢ +ĹŠ#-ĹŠ#+ĹŠ 1!'(/(_+ %.ĹŠ"#ĹŠ +;/ %.2ēŊ -ĹŠ 2#ĹŠ ĹŠ#2.ĔŊ#+ĹŠ #$#ĹŠ"#ĹŠ 23 ".ĹŠ "().ĹŠ04#ĹŠ' ~ ĹŠ04#ĹŠ#2/#1 1ĹŠ +ĹŠ ,#-.2ĹŠ".2ĹŠ'.1 2ĹŠ,;2ĹŠ/ 1 ĹŠ3#-#1ĹŠ 4- ĹŠ#5 +4 !(¢-ĹŠ1# +ĹŠ"#ĹŠ+ ĹŠ2(34 !(¢-ĹŠ %#-#1 " ĹŠ/.1ĹŠ#+ĹŠ2(2,.ĹŠ#-ĹŠ /¢-Ä“
.Ŋ"(2/4#23. ŗŊŊ .-Ŋ#+Ŋ #!1#3.Ŋ )#!43(5.Ŋ2#Ŋ .1"#-¢Ŋ+ Ŋ#5 !4 !(¢-Ŋ"#Ŋ3." 2Ŋ
+ 2ĹŠ9.- 2ĹŠ!.23#1 2ĹŠ"#+ĹŠ/ ~2ĔŊ".-"#ĹŠ 2#ĹŠ242/#-"(#1.-ĹŠ+ 2ĹŠ!+ 2#2ĹŠ#-ĹŠ+.2ĹŠ !.+#%(.2ĔŊ8ĹŠ"#ĹŠ+ 2ĹŠ 2+ 2ĹŠ +;/ %.2ĔŊ 2(34 " 2ĹŠ ĹŠ,(+ĹŠĹŠ*(+¢,#31.2ĹŠ"#ĹŠ+ ĹŠ .23 ĹŠ8ĹŠ".-"#ĹŠ5(5#-ĹŠ4- 2ĹŠÄˆÄ?ēćććŊ /#12.- 2Ä“
.2ĹŠ' (3 -3#2ĹŠ#-ĹŠ#2 2ĹŠ1#%(.-#2ĹŠ "# (#1.-ĹŠ"#) 1ĹŠ242ĹŠ! 2 2ĹŠ8ĹŠ31 2+ Äą " 12#ĹŠ ĹŠ9.- 2ĹŠ +3 2Ä“
bWi YWiWi Z[ iWbkZ Z[ bW pedW Yeij[hW [d h_[i]e$ 84" ĹŠ ĹŠ"(2! / !(3 ".2
BWi f[hiedWi Yed Z_iYWfWY_ZWZ jWcX_ƒd \k[hed [lWYkWZWi$ ;b l_Y[fh[i_Z[dj[ B[d‡d Ceh[de _dZ_YŒ gk[ .& YWhhei Z[ bW C_# i_Œd Ieb_ZWh_W CWdk[bW ;if[`e cel_b_pWhed W i_j_ei i[]khei W c|i Z[ '$-)- f[hiedWi Yed Z_i# YWfWY_ZWZ \‡i_YW o c[djWb i[l[# hW$ 7Z_Y_edWbc[dj[" i[ _dijWbŒ [d bW iWbW Z[ i[i_ed[i Z[ bW L_Y[# fh[i_Z[dY_W Z[ bW H[f‘Xb_YW kd YkWhje Z[ Yedjheb iWj[b_jWb Z[ bWi f[hiedWi Yed Z_iYWfWY_ZWZ [d bWi pedWi Yeij[hWi$
ƒ Ă
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
-31#3#+.-#2 ŗŊ -Ŋ 2,#1 +" 2Ŋ2#Ŋ/1#2#-3¢Ŋ4-Ŋ,."#+.Ŋ
"#ĹŠ $#!3 !(¢-ĹŠ#-ĹŠ! 2.ĹŠ"#ĹŠ324- ,(ĹŠ8ĹŠ2#ĹŠ "(2/42.ĹŠ04#ĹŠ#+ĹŠ31 -2/.13#ĹŠ/ĂŒ +(!.ĹŠ04#"#ĹŠ Ŋ¢1"#-#2ĹŠ"#+ĹŠ .,(3_ĹŠ"#ĹŠ /#1 !(.-#2ĹŠ"#ĹŠ ,#1%#-!( ēŊ
Ĺ—ĹŠ -ĹŠ -
~Ŋ2#Ŋ"(2/42.Ŋ#+Ŋ!(#11#Ŋ"#Ŋ3." 2Ŋ + 2Ŋ./#1 !(.-#2Ŋ341~23(! 2Ŋ#-Ŋ#+Ŋ 104#Ŋ !(.- +Ŋ !' +(++ ĔŊ #$4%(.Ŋ"#Ŋ (" Ŋ (+5#231#Ŋ 1(-.Ŋ8Ŋ .23#1.Ŋ !.!'#Ŋ8Ŋ #$4%(.Ŋ"#Ŋ (" Ŋ (+5#231#Ŋ 2+ 2Ŋ .1 9¢-Ŋ 8Ŋ 1 % 3 2ē
ŗŊ -Ŋ+ Ŋ(2+ Ŋ"#Ŋ Ŋ + 3 Ŋ2#Ŋ+#Ŋ.1"#-¢Ŋ +Ŋ
%4 1" / 104#Ŋ"#Ŋ341-.Ŋ04#Ŋ5 8 Ŋ Ŋ+ Ŋ 9.- Ŋ +3 Ŋ8Ŋ04#Ŋ$ !(+(3#Ŋ#+Ŋ/ 2.Ŋ Ŋ+.2Ŋ /#2! ".1#2Ŋ04#Ŋ/4"(#1 -Ŋ#23 1Ŋ!#1! Ŋ"#Ŋ + Ŋ '~ ēŊ
ŗŊ -Ŋ +Ŋ 1.Ŋ2#Ŋ#5 !4¢Ŋ Ŋ+ 2Ŋ/#12.- 2Ŋ04#Ŋ #23 -Ŋ#-Ŋ+ Ŋ/+ 8 Ŋ"#Ŋ +Ŋ 4 .ĔŊ2. 1#Ŋ 3.".Ŋ#-Ŋ+ 2Ŋ;1# 2Ŋ"#Ŋ(-ĄŊ4#-!( Ŋ"#Ŋ+ Ŋ #2#15 Ŋ !.+¢%(! Ŋ 1#-(++ 2ēŊ
ŗŊ -Ŋ -3 Ŋ +#- Ŋ2#Ŋ(-2/#!!(.-¢Ŋ+ Ŋ
#2#15 Ŋ"#Ŋ 1."4!!(¢-Ŋ 4-~23(! Ŋ 1(-.Ŋ .23#1 Ŋ 4-3(++ Ŋ"#Ŋ -3 Ŋ +#- ĔŊ ".-"#Ŋ2#Ŋ"(2/42.Ŋ+ Ŋ#5 !4 !(¢-Ŋ"#Ŋ+.2Ŋ %4 1" / 104#2ēŊ
Ĺ—ĹŠ ĹŠÄƒĹŠ-ĹŠ"#ĹŠ/1#2#15 1ĹŠ+ ĹŠ5(" ĹŠ"#ĹŠ+ 2ĹŠ/#12.Äą
- 2Ŋ/1(5 " 2Ŋ"#Ŋ+ Ŋ+( #13 "ĔŊ#+Ŋ (-(23#1(.Ŋ "#Ŋ 423(!( Ŋ !3(5¢Ŋ4-Ŋ/+ -Ŋ"#Ŋ!.-3(-%#-!( Ŋ / 1 Ŋ+.2Ŋ!#-31.2Ŋ"#Ŋ #' (+(3 !(¢-Ŋ .!( +Ŋ "#Ŋ '~ Ŋ"#Ŋ 1;04#9ĔŊ (/() / ĔŊ 2,#1 +Ĺ " 2Ŋ8Ŋ !' +
ŗŊ .1%#Ŋ ;1"#- 2ĔŊ"(1#!3.1Ŋ"#+Ŋ -23(343.Ŋ
!# -.%1;ÄƒĹŠ!.ĹŠ"#ĹŠ+ ĹŠ 1, " ĹŠ"#+ĹŠ !4 ".1ĹŠ ĸ -.! 1ĚĔŊ#23(,¢Ŋ 8#1ĹŠ04#ĹŠ+ 2ĹŠ.+ 2ĹŠ"#ĹŠ 324, -(ĹŠĹŠ/1.5.! ".ĹŠ/.1ĹŠ#+ĹŠ3#11#,.3.ĹŠ .!411(".ĹŠ#-ĹŠ /¢-ĹŠ++#% 1;-ĹŠ/1(,#1.ĹŠ ĹŠ +;/ %.2ĹŠ ĹŠ+ 2ĹŠÄˆÄ?ĖĊćŊ8ĹŠ+4#%.ĹŠ ĹŠ+ 2ĹŠ9.- 2ĹŠ !.23#1 2ĹŠ ĹŠ/ 13(1ĹŠ"#ĹŠ+ 2ĹŠÄˆÄ’Ä–ÄŠÄ‡Ä“
Ĺ—ĹŠĹŠ +ĹŠ
(-#3#Ŋ 3(-#1 -3#Ŋ04#Ŋ"# ~ Ŋ1# +(Ĺ 9 12#Ŋ#-Ŋ -3.Ŋ .,(-%.Ŋ"#Ŋ+.2Ŋ 2;!'(+ 2Ŋ 2#Ŋ242/#-"(¢Ŋ/.1Ŋ#+Ŋ#23 ".Ŋ"#Ŋ#7!#/!(¢-ē
Ĺ—ĹŠĹŠ +ĹŠ ,
) ".1Ŋ"#Ŋ !4 ".1Ŋ#-Ŋ .*(.ĔŊ
5(#1Ŋ .-!#ĔŊ(-$.1,¢Ŋ04#Ŋ+ Ŋ .+.-( Ŋ #!4 3.1( - Ŋ1#2("#-3#Ŋ#-Ŋ /¢-Ŋ2#Ŋ #-!4#-31 Ŋ2(-Ŋ-.5#" "ē
Ĺ‹& 0 (.šŋ , -.,# #š(Ĺ‹ (Ĺ‹ ,)*/ ,.)-Ĺ‹ BW c_d_ijhW Z[ JhWdifehj[" CWh‡W Z[ bei Ă›d][b[i :kWhj[" _d\ehcÂŒ gk[ bWi h[ijh_YY_ed[i [d bei W[hefk[hjei Z[b fW‡i ^Wd i_Ze b[lWdjWZWi" W [nY[fY_ÂŒd Z[ =Wb|fW]ei" ZedZ[ i[ bW cWdj[d# Zh| ^WijW i[]kdZW ehZ[d$ BW \kdY_edWh_W cWd_\[ijÂŒ gk[ bWi h[ijh_YY_ed[i [d Z_Y^e W[hefk[hje i[ b[lWdjWh|d bk[]e Z[b ‘bj_ce h[fehj[ gk[ i[ j[d]W" kdW l[p gk[ bW ebW Z[ jikdWc_ fWi[ feh bW _ibW" c_[djhWi jWdje d_d]‘d Wl_ÂŒd feZh| iWb_h ^WY_W [b Yedj_d[dj[$ ;d bW cW‹WdW" bW :_h[YY_ÂŒd =[d[hWb Z[ 7l_WY_ÂŒd 9_l_b iki# f[dZ_ÂŒ bei lk[bei W CWdjW" ;i# c[hWbZWi o =Wb|fW]ei feh bW Wb[hjW Z[ kd fei_Xb[ jikdWc_ [d bW h[]_ÂŒd Yeij[hW Z[b fW‡i$ BWi hkjWi ikif[dZ_ZWi \k[hed0 ;i# c[hWbZWi" IWdjW HeiW o =Wb|fW# ]ei JWc[ CWdjW o =Wb|fW]ei 7[he]Wb bW W[heb‡d[W BWd jWc# X_ƒd Z[`ÂŒ Z[ ef[hWh$
ēŊ ĹŠ5~ ĹŠ 4 8 04(+Äą +(- 2ĹŠ2#ĹŠ!#11¢Ŋ2. 1#ĹŠ+ 2ĹŠÄˆÄŽÄ–Ä‡Ä‡ĹŠ"#ĹŠ 8#1Ä“
(ŋ (. ŋ & ( ŋ"/ ) )-ŋ*),ŋ 0 / #š(
Ŋ"#2#2/#1 !(¢-Ŋ '(9.Ŋ04#Ŋ+ Ŋ%#-3#Ŋ 2#Ŋ %.+/ 1 Ŋ/ 1 Ŋ -".- 1Ŋ+ Ŋ/#Ĺ -~-24+ ē
fehj[i ]hWjk_jei ^WX‡W Ă’ bWi Z[ l_l_[hed Wo[h" c_[cXhei Z[ bW ^WijW kd a_bÂŒc[jhe Z[ bWh]e$ 9ec_i_ÂŒd Z[ Jh|di_je Z[b =kWoWi Bei l_W`[hei YedĂ’ hcWhed gk[ 9J= " <<$77$ o Feb_Y‡W jkl_[hed [b YWei h[_dÂŒ ZkhWdj[ bWi fh_c[# gk[ _dj[di_Ă’ YWh iki fWjhkbbW`[i$ hWi ^ehWi Z[ bW cW‹WdW" [if[Y_Wb# ;b eX`[j_le Z[ bei kd_\ehcWZei c[dj[ bk[]e Z[ gk[ [b fh[i_Z[dj[ \k[ WokZWh W cWdj[d[h bW YWbcW" HW\W[b 9ehh[W Z[Yh[jÂŒ [b [ijWZe YebWXehWh Yed bW [lWYkWY_ÂŒd o Z[ [nY[fY_ÂŒd feh bW Wb[hjW Z[ [l_jWh iWgk[ei W beYWb[i Yec[h# jikdWc_ gk[ i[ [c_j_ÂŒ fWhW jeZei Y_Wb[i o l_l_[dZWi$ bei fW‡i[i Z[b FWY‡Ò Ye$ :khWdj[ bei ef[hWj_lei" ĹŠ ĹŠÄ› KdW \k[hj[ Yed][i# Bei Xki[i _dj[hfhel_d# bWi <<$77 YedjWhed Yed j_ÂŒd l[^_YkbWh i[ h[fehjÂŒ Wo[h [d YkWjhe YWc_ed[i" Zei YW# bW l‡W gk[ Yed[YjW W IWdjW ;b[dW Y_Wb[i gk[ fWhj‡Wd ^WY_W } ĹŠĹŠ =kWoWgk_b i[ bb[dW# $4#1.-ĹŠ#-5( ".2ĹŠ c_ed[jWi" kd ^[b_YÂŒfj[he o =kWoWi" feh [b cWi_le XWd" c_[djhWi gk[ ĹŠ + 8 2ĔŊ#-ĹŠ o YkWjhe bWdY^Wi$ 7Z[c|i ƒneZe Z[ f[hiedWi gk[ 4 8 2Ä“ bWi j[hc_dWb[i j[# i[ Z_ifkie gk[ '&& Xki[i gk[h‡Wd WXWdZedWh bW f[# } ĹŠ khXWdei Z[ =kWoWgk_b fWh# d‡dikbW Wdj[ bW Wc[dWpW 31 ) 1.-ĹŠ#-ĹŠ+ 2ĹŠ hh[ijh[i Z[ bei YWd# 9.- 2ĹŠ"#ĹŠ1(#2%.ĹŠ jed[i o bWi ]Wieb_d[hWi Z[ jWd W IWdjW ;b[dW fWhW [lWYkWh W Z[ kd jikdWc_$ "#ĹŠ -3 ĹŠ +#- Ä“ IWdjW ;b[dW jkl_[hed fhe# bWi f[hiedWi$ C_b[i Z[ h[i_Z[dj[i Z[ Xb[cWi fWhW iWj_i\WY[h bWi BW Feb_Y‡W" [d jWdje" YedjhebÂŒ bei YWdjed[i BW B_X[hjWZ" IWb_dWi" IWdjW ;b[dW o Z[ ejhWi Z[cWdZWi Z[ bW ][dj[ gk[ gk[h‡W bW fei_X_b_ZWZ Z[ iWgk[ei [d [b i[Yjeh Z[ BW :kdWi" [d IWb_dWi" feXbWY_ed[i c|i f[gk[‹Wi i[ Z[`Wh bW pedW Y[hYWdW Wb cWh$ ZedZ[ kd ]hkfe Z[ f[hiedWi fh[# W]ebfWhed fWhW Yedi[]k_h kd j[dZ_ÂŒ WXh_h kd beYWb Yec[hY_Wb o Ykfe o iWb_h Z[ bW fhel_dY_W$ ;d 41 ĹŠ3 1# bW pedW ZedZ[ [ijWXWd bei jhWdi# :[X_Ze W bei fheXb[cWi gk[ i[ lWh_Wi l_l_[dZWi lWYWY_edWb[i$
ÄŒÄ‘ĹŠ
Ä?ććŊ
1# 2Ŋ#-Ŋ + 8 2 ŗŊŊ +Ŋ%. #1- ".1Ŋ"#+Ŋ 4 8 2ĔŊ . #13.Ŋ 4#1.ĔŊ8Ŋ#+Ŋ +! +"#Ŋ (!'#+Ŋ !'(ĔŊ"(1(Ĺ
%(#1.-Ŋ+ 2Ŋ+ .1#2Ŋ"#Ŋ#5 !4 !(¢-Ŋ"#Ŋ /#12.- 2Ŋ"#+Ŋ! -3¢-Ŋ #-#1 +Ŋ (++ ,(+Ŋ + 8 2Ŋ Ŋ9.- 2Ŋ2#%41 2ē
.2ĹŠ-#15(.2ĹŠ'(!(#1.-ĹŠ/1#2 ĹŠ"#ĹŠ + ĹŠ%#-3#ĹŠ!4 -".ĹŠ2#ĹŠ"(.ĹŠ+ ĹŠ +#13 ĹŠ "#+ĹŠ/.2( +#ĹŠ324- ,(ĹŠ#-ĹŠ!.23 2ĹŠ"#+ĹŠ !~ÄƒĹŠ!.ēŊ .2ĹŠ/#2! ".1#2ĹŠ 13#2 - Äą +#2ĹŠ"#ĹŠ + 8 2ĔŊ -% .ĔŊ .2.1) ĹŠ8ĹŠ 3 ĹŠ"#ĹŠ (++ ,(+ĔŊ$4#1.-ĹŠ. +(% ".2ĹŠ ĹŠ 242/#-"#1ĹŠ242ĹŠ !3(5(" "#2ĹŠ"# (".ĹŠ ĹŠ + ĹŠ + 1, Ä“ -ĹŠ3 -3.ĔŊ 11(.ĹŠ !4 ".1ĔŊ +!¢-ĹŠ "#+ĹŠ !~ÄƒĹŠ!.ĹŠ8ĹŠ 4 -ĹŠ ¢,#9ĹŠ #-"¢-ĔŊ $4#1.-ĹŠ"#!+ 1 " 2ĹŠ9.- 2ĹŠ"#ĹŠ2#%41(" "Ä“
1 , ĹŠ#-ĹŠ +ĹŠ 1. ĹŠ #2! ".1#2ĹŠ 13#2 - +#2ĹŠ8ĹŠĹŠ/1#23 Äą Ĺ—".1#2ĹŠ"#ĹŠ2#15(!(.ĹŠ341~23(!.ĹŠ/42(#1.-ĹŠ ĹŠ
"(2/.2(!(¢-Ŋ+ 2Ŋ#, 1! !(.-#2Ŋ/ 1 Ŋ #5 !4 1Ŋ Ŋ+.2Ŋ/. + ".1#2Ŋ"#Ŋ+ 2Ŋ(2+ 2Ŋ
, #+~ĔŊ .-% +(++.ĔŊ .23 Ŋ (! ĔŊ 2Ŋ 4 ! 2ĔŊ 2Ŋ 2(3 2Ŋ8Ŋ 4#- 5(23 ĔŊ8Ŋ Ŋ.31.2Ŋ2(3(.2Ŋ04#Ŋ2#Ŋ#-!4#-31 -Ŋ Ŋ+ Ŋ .1(++ Ŋ"#+Ŋ, 1ē
Ŋ/1#.!4/ !(¢-Ŋ#-Ŋ#2 Ŋ/1.5(-!( Ŋ2#Ŋ "(.Ŋ/.104#Ŋ2#Ŋ(-3#-3 Ŋ+.! +(9 1Ŋ Ŋ ĉććŊ#, 1! !(.-#2Ŋ04#Ŋ' ~ -Ŋ2 +(".Ŋ #+Ŋ)4#5#2Ŋ Ŋ1# +(9 1Ŋ$ #- 2ŊŊ"#Ŋ/#2! ēŊ
/ ),Ĺ‹-)&)Ĺ‹" Ĺ‹ ( , (. )Ĺ‹ )-Ĺ‹.-/( '#;b Z_h[Yjeh Z[b ?dij_jkje =[e\‡# i_Ye Z[ bW ;iYk[bW Feb_jƒYd_YW DWY_edWb" >k]e Oƒf[p" _d\ehcÂŒ Wo[h gk[ [d bW ^_ijeh_W Z[b ;YkW# Zeh iebe i[ ^Wd h[]_ijhWZe Zei jikdWc_i h[bWY_edWZei Yed ]hWd# Z[i j[hh[cejei beYWb[i$ Æ;b j[hh[ceje Z[ ;ic[hWbZWi .$. ][d[hÂŒ kd jikdWc_ gk[ i[ [d\eYÂŒ ^WY_W bW YeijW dehj[ Z[ ;i# c[hWbZWi Z[iZ[ B_ced[i ^WY_W [b dehj[ Z[ JkcWYe i_]k_[dZe bW Yei# jW Z[ DWh_‹e o 9^eYÂŒ ^WijW bW Wbjk# hW Z[b fk[hje Z[ 8k[dWl[djkhW" [d 9ebecX_W$ ;ij[ jikdWc_ jWcX_ƒd bb[]ÂŒ Wb @WfÂŒdÇ" c[dY_edÂŒ Oƒf[p$ (2,.ĹŠ#-ĹŠ /¢-
;b j_jkbWh Z[b =[e\‡i_Ye jWcX_ƒd YedĂ’ hcÂŒ gk[ [b j[hh[ceje h[]_i#
jhWZe [d @WfÂŒd ."/ cW]d_jkZ i[ Yedl_[hj[ [d [b gk_dje c|i ]hWdZ[ Z[ jeZW bW ^_ijeh_W i_icebÂŒ]_YW$ Æ;ij[ j[hh[ceje Z[ifbWpW W i[nje bk]Wh Wb h[]_ijhWZe [d 9^_# b[" [b W‹e fWiWZeÇ" Wi[]khÂŒ Oƒ# f[p" Wb [nfb_YWh gk[ [b j[hh[ceje Z[ @WfÂŒd j_[d[ YWhWYj[h‡ij_YWi i_c_bWh[i W bei fheZkY_Zei [d ;YkWZeh ;ic[hWbZWi '/&, o 9^_b[$ ÆIed j[hh[cejei Yed kdW [iYWbW Z[ ."/" ][d[hWZeh[i Z[ jikdWc_iÇ" _dZ_YÂŒ$ ;b j_jkbWh Z[b =[e\‡i_Ye i[‹WbÂŒ gk[ ZkhWdj[ bW ^_ijeh_W" [d '/+. [b j[hh[ceje \h[dj[ W ;ic[hWbZWi jWcX_ƒd fheZk`e jikdWc_i beYW# b[i gk[ de l_W`Whed W bW Yk[dYW fWY‡\_YW f[he gk[ i_ YWkiWhed _cfWYje beYWb ieXh[ jeZe [d [b
ēŊ 4%.Ŋ _/#9Ŋĸ #1ēĚŊ!.,#-3¢Ŋ2. 1#Ŋ#23#Ŋ3(/.Ŋ"#Ŋ/1.!#2.2Ŋ- 341 +#2ē
fk[hje Z[ ;ic[hWbZWi o [d bW [d @WfŒd" be dehcWb [i j[d[h ck# Y^ei i_icei Z[ cW]d_jkZ[i c[# fWhj[ dehj[$ deh[i feh ckY^e j_[cfe" _dZ_YŒ Oƒf[p" f[he h[YWbYŒ gk[ d_d]kdW _/+(! 2 KdW l[p gk[ i[ j_[d[d j[hh[ce# Z[ [ijWi j_[d[ bW YWfWY_ZWZ Z[ ][# jei jWd ]hWdZ[i Yece [b ikY[Z_Ze d[hWh c|i jikdWc_i$
Ē / ŋ/(ŋ #(ð ,()ēŋ
ƒ 7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
ă
ĹŠ ĹŠ ĹŠ Äą ŊĸĉÄ?ĹŠ Â&#x; ĚĔŊ Äą ĹŠ ĹŠ ĹŠ ÂĄĹŠ ĹŠ ĹŠ ĹŠ ĹŠ
¥ ēŊ .2Ŋ1( #1# .2Ŋ2 +(#1.-Ŋ!.-Ŋ$.++#3.2Ŋ#-Ŋ+ 2Ŋ, -.2Ŋ8Ŋ2 ~ -Ŋ!¢,.Ŋ !34 1Ŋ#-Ŋ! 2.Ŋ"#Ŋ324- ,(ē
# , ˜)-Ĺ‹ . ,)( ), (Ĺ‹ Ĺ‹ 0 / #š(
.2ĹŠ/. + ".1#2ĹŠ"#ĹŠ+ 2ĹŠ9.- 2ĹŠ"#ĹŠ1(#2%.ĔŊ 2 +(#1.-ĹŠ"#ĹŠ242ĹŠ'.% 1#2ĹŠ#-ĹŠ! +, ĹŠ8ĹŠ!.-ĹŠ /.! 2ĹŠ/#13#-#-!( 2Ä“ ĹŠ š 7 bWi ',0'+ iedÂŒ bW
WbWhcW Z[ Wl_ie j[cfhWde fWhW Wb[hjWh W bW feXbWY_ÂŒd Wi[djWZW ieXh[ bW h_X[hW Z[b ;ic[hWbZWi" bWi _ibWi o XWbd[Wh_e Z[ BWi FWb# cWi" gk[ Z[X‡W [lWYkWh ^WY_W bk]Wh[i Wbjei" Wdj[ [b WdkdY_e Z[b jikdWc_ W YWkiW Z[b j[hh[ceje [d @WfÂŒd$ ;b ]eX[hdWZeh Z[ bW fhel_dY_W" B[d_d BWhW1 [b WbYWbZ[ Z[b YWdjÂŒd ;ic[hWbZWi" ;hd[ije ;ijkf_‹|d1 [b `[\[ Z[b 9eefde" <WX_|d @Whh‡d" o [b _dif[Yjeh ][d[hWb Z[ bW Fe# b_Y‡W" D[bied 7h]”[bbe" ^_Y_[hed [b WdkdY_e [d YWZ[dW Z[ hWZ_e o j[b[l_i_ÂŒd" [d bW gk[ bbWcWhed W bW YWbcW [d bei jhWibWZei ^WY_W bei bk]Wh[i i[]khei$ :[ cWd[hW Z_iY_fb_dWZW" bk[# ]e Z[ ZWhi[ bW WbWhcW" ^WX_jWd# j[i Z[ bei i[Yjeh[i Yedi_Z[hWZei lkbd[hWXb[i _d_Y_Whed [b Z[iĂ’b[ ^WY_W bei i_j_ei h[Yec[dZWZei
feh [b 9ec_jƒ Z[ Ef[hWY_ed[i ;c[h][dj[i 9E; $ ,/("#-ĹŠ+ .1#2ĹŠ"#ĹŠ/#2!
I[]‘d be Z_ifk[ije feh [b :[Yh[# je ;`[Ykj_le Z[ ;nY[fY_Œd" i[ _c# f_Z_Œ [b pWhf[ Z[ [cXWhYWY_ed[i Z[ f[iYW Whj[iWdWb" Wkdgk[ ^Wi# jW bWi '*0&& i[ ^WXbWXW gk[ kdWi )&& [cXWhYWY_ed[i f[igk[hWi i[ ^WbbWXWd [d WbjW cWh$ 7b _]kWb gk[ [d [b h[ije Z[b fW‡i" bei lk[bei Z[iZ[ o ^WY_W Gk_je o =kWoWgk_b \k[hed iki# f[dZ_Zei feh bW [cfh[iW J7C;" [d Wj[dY_Œd W bW Z_ifei_Y_Œd Z[ bW W[hedWl[]WY_Œd Z[b ;YkWZeh$ BW WYj_l_ZWZ Yec[hY_Wb [d [b Y[djhe Z[ bW Y_kZWZ \k[ ikif[dZ_# ZW [d fh[l_i_Œd Z[ bW WYY_Œd Z[ bW Z[b_dYk[dY_W" f[i[ W gk[ bWi <k[h# pWi 7hcWZWi o bW Feb_Y‡W j[d‡W ehZ[d Z[ h[ZeXbWh bW l_]_bWdY_W [d bei i[Yjeh[i gk[ j[d‡Wd gk[ [lW#
.,#1!(.Ŋ-.Ŋ 3#-"(¢ ŊŊ Ŋ+.Ŋ+ 1%.Ŋ"#Ŋ+ Ŋ! ++#Ŋ (,¢-Ŋ ŗ .+~5 1ĔŊ! 1 !3#1(9 " Ŋ/.1Ŋ4- Ŋ %(Ĺ
3 " Ŋ !3(5(" "Ŋ!.,#1!( +Ŋ$.1, +Ŋ#Ŋ (-$.1, +Ŋ"( 1( ĔŊ2#Ŋ-.3¢Ŋ#+Ŋ#$#!3.Ŋ "#+Ŋ #!1#3.Ŋ"#Ŋ ,#1%#-!( ē
.! +#2Ŋ"#Ŋ3.".Ŋ3(/.Ŋĸ$ 1Ĺ , !( 2ĔŊ! (- 2Ŋ3#+#$¢-(! 2ĔŊ +, !#-#2Ŋ"#Ŋ1./ ĔŊ1#23 4Ĺ 1 -3#2ĔŊ#-31#Ŋ.31.2ĚŊ!#11 ".2Ŋ 8Ŋ5#1#" 2Ŋ"#2.+ " 2Ŋ$4#1.-Ŋ / 13#Ŋ"#+Ŋ-#15(.2(2,.Ŋ"#Ŋ+.2Ŋ #2,#1 +"# .2ēŊ 23 Ŋ+ 2Ŋ (#-" 2Ŋ -"4231( +#2Ŋ 2.!( " 2Ŋĸ } ĚŊ 242/#-"(#1.-Ŋ#+Ŋ31 ).ē
;ijWXW iWb_[dZe Z[ c_i YbWi[i Z[ `Wfedƒi o Wb]e [d c_ YehWpÂŒd c[ Z_`e gk[ de c[ ikXW Wb jh[d fWhW lebl[h W YWiW" Wi‡ gk[ Z[Y_# Z‡ ^WY[h kdWi YecfhWi fWhW c_ ]kW]kW$ <k_ Wb ikf[hc[hYWZe W l[h kdWi \hkjWi o YkWdZe [djhƒ [cf[Yƒ W i[dj_h gk[ c[ cWh[W# XW$ De iWX‡W gkƒ fWiWXW" ^WijW f[diƒ gk[ [ijWXW [cXWhWpWZW$ :[ fhedje [cf[pÂŒ bW f[iWZ_bbW$ JeZe [cf[pÂŒ W cel[hi[ o kd i[# ‹eh W c_ bWZe ]h_jWXW Æj[cXbeh" j[cXbehÇ$ IWb_cei Z[i[if[hWZei Z[ bW j_[dZW o W\k[hW bW ][dj[ bbe# hWXW Z[iYediebWZW$ JeZei" [djh[ Z[iYedeY_Zei" dei WXhWp|XWcei o oe [d [ifW‹eb b[ f[Z‡W W ]h_jei W :_ei gk[ Z[j[d]W [ij[ _dĂ’[hde$ <k[ bWh]‡i_ce" \k[hed Yece Y_d# Ye c_dkjei Z[ j[hh[ceje$ I[dj‡ Z[i[if[hWY_ÂŒd feh _h W l[h W c_ d_‹W" [i kdW f[gk[‹W Z[ iebe , W‹ei$ ;ijWXW [d kd Y[d# jhe _d\Wdj_b gk[ gk[ZW [d Jea_e >WY^_`_" [d bW YWf_jWb$ <k_ W bW [i# jWY_ÂŒd Z[b jh[d f[he c[ Z_`[hed gk[ jecWh‡W kdW ^ehW h[fWhWh [b i[hl_Y_e$ <k_ W jecWh kd Xki
: Ŋš 7dj[ bW Z[YbWhWjeh_W
( ,.# /' , ŋ *),ŋ* - ), -ŋ (ŋ ( v Ŋ š ;d [b i_j_e [b CWjWb
31 2ĹŠ !!(.-#2
Z[ @WcW CWdWX‡ " lWh_Wi \Wc_# b_Wi oW bbehWXWd W iki [ifeiei" fehgk[ iWb_[hed W bWi &*0&& W iki \W[dWi Z[ f[iYW$ Æ;bbei de iWX‡Wd dWZW o bb[# lWhed YecXkij_Xb[ fWhW *. ^e# hWi" gk[ :_ei bei WokZ[Ç" ]h_jWXW HWgk[b :k[‹Wi" gk[ `kdje W c|i Z[ +& \Wc_b_Wi \k[hed [lWYkWZWi Z[b i[Yjeh$ JeZWi bWi \Wc_b_Wi gk[ iW# b_[hed Z[ bei feXbWZei Yeij[hei \k[hed WbX[h]WZei [d [iYk[bWi" Yeb[]_ei o Yeb_i[ei Z[X_ZWc[dj[ [gk_fWZei feh bei h[if[Yj_lei 9ec_jƒ Z[ Ef[hWY_ed[i Z[ ;c[h#
o [ijWXW h[fb[je" WbYWdYƒ W ikX_h# c[ [d bW fk[hjW o he]Wh gk[ c[ bb[lWhWd$ 7b bb[]Wh W c_ YWiW c[ [dYed# jhƒ Yed c_ ik[]hW o bW j_[hhW i[# ]k‡W j[cXbWdZe$ <k_ W l[h W c_ d_‹W o i[dj‡ kdW fWp _d[nfb_YW# Xb[ $ De feZ‡W Yeckd_YWhc[ Yed c_ [ifeie o f[diWXW be f[eh$ BWi Yed[n_ed[i j[b[\Œd_YWi de i[hl‡Wd fWhW dWZW o iebe fkZ[ YedjWYjWhbe feh <WY[Xeea$ JWcX_ƒd fkZ[ Z[# Y_hb[ W c_ \Wc_b_W [d Be`W gk[ [ijeo l_lW ]hWY_Wi W bWi h[Z[i ieY_Wb[i$ De ^[ feZ_Ze Zehc_h" bWi hƒ# fb_YWi i_]k[d o W YWZW cec[d# je fWh[Y[ gk[ [iW f[iWZ_bbW lW W lebl[h" iŒbe h[YehZWhbe c[ ^WY[ [djhWh [d f|d_Ye$
-. Ĺ‹ &Ĺ‹ )&#. ,#)Ĺ‹ ),! Ĺ‹ ./0)Ĺ‹+/ Ĺ‹- ,Ĺ‹ 0 / ) Z[ [c[h][dY_W feh bW Wb[hjW Z[ JikdWc_" bW :_h[YY_ÂŒd Z[b FWh# gk[ DWY_edWb =Wb|fW]ei :DF= Z_ifkie [b Y_[hh[ Z[ jeZei bei i_# j_ei Z[ l_i_jW Z[b WhY^_f_ƒbW]e$ ;b eh]Wd_ice de iÂŒbe i[ Yed# Y[djhÂŒ [d fh[YWkj[bWh bW l_ZW Z[ jƒYd_Yei o jkh_ijWi" i_de gk[ jWc# X_ƒd i[ [d\eYÂŒ [d fh[i[hlWh bW l_ZW Z[ [if[Y_[i gk[ [ij|d [d bei Y[djhei Z[ Yh_WdpW o YWkj_l[h_e$ 7i‡ [djh[ bei Wd_cWb[i gk[ \k[hed [lWYkWZei [ijWXW [b ie# b_jWh_e @eh][" ‘d_Ye [`[cfbWh Z[ bW [if[Y_[ =e[Y^[bed[ 7X_]Zed_ Z[ bW _ibW F_djW" gk[ i[ cWdj_[d[ [d YWkj_l[h_e [d [b Y[djhe Z[ h[fhe# ZkYY_ÂŒd [d IWdjW 9hkp$ ;b [cXb[# c|j_Ye h[fj_b \k[ bb[lWZe ^WijW kd YehhWb [if[Y_Wb [d bW pedW Z[ IWdjW HeiW" fWhj[ WbjW Z[ bW _ibW$
YkWh ZWZW ik lkbd[hWX_b_ZWZ W [l[djei Yece kd cWh[ceje$ ;d bei YWdjed[i IWd Be# h[dpe" ;beo 7b\Whe o H_el[h# Z[" Wb dehj[ Z[ bW fhel_dY_W" o 7jWYWc[i o Ck_id[" Wb ikh" i[]‘d [b =eX[hdWZeh" B[d_d BWhW H_lWZ[d[_hW" bW [lWYkW# Y_Œd Z[ bW feXbWY_Œd fhŒn_cW Wb cWh \k[ cWi_lW$
ēŊ Ŋ#!4 3.1( - Ŋ5(5#Ŋ #-Ŋ .*(.Ŋ"#2"#Ŋ' !#Ŋ.!'.Ŋ  .2ē
Bei ]kWhZWfWhgk[i Z[ bW :DF="
WZ[c|i Z_[hed Wfeoe be]‡ij_Ye o YebWXehWhed Yed bWi jWh[Wi Z[ [lWYkWY_ÂŒd Z[ bWi Yeckd_ZWZ[i beYWb[i ^WY_W bWi fWhj[i WbjWi Z[ bWi _ibWi$ CWh_e L_bbWbjW" `[\[ Z[ bW H[# i[hlW CWh_dW Z[ =Wb|fW]ei" Z[ ik fWhj[" YedĂ’hcÂŒ gk[ bWi [c# XWhYWY_ed[i gk[ i[ [dYedjhWXWd [d [b 7hY^_f_ƒbW]e \k[hed jhWi# bWZWZWi Y_dYe c_bbWi \k[hW Z[ bW hWZW Z[ bei fk[hjei [d YWZW kdW Z[ bWi _ibWi$ L_bbWbjW W]h[]ÂŒ gk[ [b fheje# Yebe Z[ [c[h][dY_W WfkdjÂŒ W gk[ bei '- c_b ^WX_jWdj[i Z[ bWi _ibWi i[ Z[ifbWY[d Wb fkdje c|i Wbje Z[ iki beYWb_ZWZ[i$ ;b 9ec_jƒ 9WdjedWb Z[ Ef[# hWY_ed[i Z[ ;c[h][dY_W ?iWX[bW h[iebl_ÂŒ ikif[dZ[h bei lk[bei Yec[hY_Wb[i o fh_lWZei gk[ Z[# X‡Wd iWb_h Wo[h Z[iZ[ bW _ibW ?iW# X[bW" Wi‡ Yece jeZWi bWi WYj_l_ZW# Z[i cWh‡j_cWi$
ēŊ #2"#Ŋ 14!(3 Ŋ+.2Ŋ 42#2Ŋ2 +(#1.-Ŋ! 1% ".2Ŋ!.-Ŋ$ ,(+( 2Ŋ "#2#2/#1 " 2ē
][dY_W 9E; Z[ YWZW YWdjÂŒd$ 7i_c_ice" <_b_f_dW 9Wijhe [ijWXW Z[i[if[hWZW" fk[i j[d‡W jeZe b_ije fWhW iWb_h Yed iki jh[i ^_`ei" Z[b XWbd[Wh_e Z[ bW fWhhe# gk_W 9hkY_jW$ Æ;d [b fh_c[h YW# hhe gk[ l[d]W c[ ikXe fWhW iWb_h Z[ Wgk‡" fehgk[ oW de [ijWcei i[# ]khei" [b cWh i[ ^W h[j_hWZe o [ie
c[ ZW c_[ZeÇ" Z_`e bW ck`[h" c_[djhWi [if[hWXW W bWi Xh_]W# ZWi Z[ h[iYWj[ gk[ bb[]Whed W bWi '+0&&$ ;d bWi pedWi Yeij[hWi Z[ CWdWX‡ bW [lWYkWY_ÂŒd [i# jkle W YWh]e Z[ bWi <<$77$" gk[ YedjWhed Yed [b Wfeoe Z[ '&& Xki[i$
ēŊ +Ŋ #-31.Ŋ"#Ŋ 1( -9 Ŋ"#Ŋ .134% 2Ŋ (% -3#2Ŋ#23;Ŋ Ŋ#2! 2.2Ŋ,#31.2Ŋ "#Ŋ+ Ŋ!.23 ē
ƒ ą
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
( -/,Ĺ‹ & ,šŋ-/Ĺ‹ ( #'# (.)Ĺ‹ )ðŋ # & :_iYkhiei Z[ _dj[]hWY_ÂŒd [d bW h[]_ÂŒd" Z[ ieb_ZWh_ZWZ Yed @WfÂŒd o kd _dgk[XhWdjWXb[ i_b[dY_e ieXh[ bW cWiWYh[ Z[ Y[dj[dWh[i Z[ f[hiedWi [d B_X_W" cWhYWhed Wo[h [b ÆdWY_c_[dje b[]WbÇ Z[ bW Kd_ÂŒd Z[ DWY_ed[i IkhWc[h_YW# dWi KdWikh [d bW 9_kZWZ C_jWZ Z[b CkdZe$ Æ;d dk[ijhei fW‡i[i i[ l_l[ kdW l_]eheiW Z[ceYhWY_WÇ" Z_`e [b YWdY_bb[h H_YWhZe FWj_‹e Wb _d_Y_Wh [b [dYk[djhe [d [b gk[ h[fh[i[djWdj[i Z[ 7h][dj_dW" 8hWi_b" 8eb_l_W" 9^_b[" 9ebecX_W" ;YkWZeh" =koWdW" FWhW]kWo" F[h‘" Ikh_dWc" Khk]kWo o L[# d[pk[bW i[ ieb_ZWh_pWhed Yed [b fk[Xbe `Wfedƒi$ ;d ik efehjkd_ZWZ" [b fh[# i_Z[dj[ HW\W[b 9ehh[W [dl_ÂŒ kd ÆWXhWpe \hWj[hdeÇ W bei ZWcd_Ă’ # YWZei o W h[d]bÂŒd i[]k_Ze fhe# fkie bW Yh[WY_ÂŒd Z[ kdW I[Yh[jW# h‡W IkZWc[h_YWdW Z[ =[ij_ÂŒd Z[ H_[i]ei$ (+#-!(.ĹŠ -3#ĹŠ, 2 !1#
BW Yh_i_i ^kcWd_jWh_W feh bei [d# \h[djWc_[djei WhcWZei gk[ i[ l_l[d [d B_X_W de YedijÂŒ [d bei Z_iYkhiei Z[ _dWk]khWY_ÂŒd eĂ’ # Y_Wb$ ;b YWdY_bb[h H_YWhZe FWj_‹e" feh [`[cfbe" de i[ Wb[`ÂŒ Z[ bW Z_i# fei_Y_ÂŒd Z[ cWdj[d[h ÆfhkZ[d# Y_W Z_fbec|j_YWÇ" ieXh[ bei WYed# j[Y_c_[djei [d [b fW‡i |hWX[$
.2ĹŠ24!#2.1#2ĹŠ / 1 ĹŠ (1!'-#1 Ĺ—ĹŠĹŠ
-3#ĹŠ+ ĹŠ(,/.2( (+(" "ĹŠ"#ĹŠ!.-!1#Äą 3 1ĹŠ4- ĹŠ, 8.1~ ĹŠ"#ĹŠ5.3.2ĹŠ/ 1 ĹŠ#+#%(1ĹŠ +ĹŠ24!#2.1ĹŠ"#+ĹŠ$ ++#!(".ĹŠ#7%. #1Äą - -3#ĹŠ 1%#-3(-.ĹŠ _23.1ĹŠ (!'-#1ĔŊ+.2ĹŠ ! -!(++#1#2ĹŠ"#+ĹŠ.1% -(2,.ĹŠ1#!.,#-Äą " 1.-ĹŠ 8#1ĹŠ04#ĹŠ+.2ĹŠ".2ĹŠ! -"(" 3.2ĹŠ .ÄƒĹŠ!( +#2ĔŊ#+ĹŠ !34 +ĹŠ,(-(231.ĹŠ5#-#9.Äą + -.ĹŠ"#ĹŠ +#!31(!(" "ĔŊ +~ĹŠ ."1~%4#9ĔŊ 8ĹŠ+ ĹŠ#7! -!(++#1ĹŠ!.+., ( - ĹŠ 1~ ĹŠ ,, ĹŠ #)~ ĔŊ2#ĹŠ341-#-ĹŠ#-ĹŠ#+ĹŠ! 1%.ĹŠ +.2ĹŠfhÂŒn_cei Zei W‹ei$
Æ>WijW W^‡ dec|i bb[]WceiÇ" h[ifedZ_ÂŒ [b l_Y[YWdY_bb[h Z[ 9^_b[" <[hdWdZe IY^c_Zj Wb h[i# fedZ[h kdW _dgk_[jkZ f[h_eZ‡i# j_YW Z[b i_b[dY_e Z[b eh]Wd_ice h[]_edWb ieXh[ [b j[cW$ ;b YWdY_bb[h Z[ L[d[pk[bW" D_# Yeb|i CWZkhe" i[ b_c_jÂŒ W h[_j[# hWh bW fhefk[ijW Z[b =eX_[hde Z[ >k]e 9^|l[p ieXh[ kdW fei_Xb[ c[Z_WY_ÂŒd$ $1#!(,(#-3.2
Fh[l_e W bW YebeYWY_ÂŒd Z[ bW fh_# c[hW f_[ZhW Z[b fheo[Yje Z[ YedijhkYY_ÂŒd Z[ bW i[Z[ f[hcW# d[dj[ Z[ bW KdWikh" 9ehh[W" FW# j_‹e o bW fh[i_Z[djW fhe jƒcfeh[ Z[b eh]Wd_ice" 9Wheb_d[ HeZh‡# ]k[p Z[ =koWdW " e\h[Y_[hed _cfb[c[djWh W c[Z_Wde o bWh# ]e fbWpe fheo[Yjei Z[ i[hl_Y_ei ieY_Wb[i" [ZkYWj_lei" Z[ iWbkZ o Ă’ dWdY_[hei$ :khWdj[ )/ c_dkjei 9ehh[W i[ Z_h_]_ÂŒ W bei Z[b[]WZei Z[ bWi Z_fbecWY_Wi ikZWc[h_YWdWi o Y[dj[dWh[i Z[ i_cfWj_pWdj[i Z[b ]eX_[hde o fhefkie gk[ bW KdWikh ÆWY[b[h[Ç bW Yh[WY_ÂŒd Z[ kd Y[djhe Z[ WhX_jhW`[ h[]_edWb gk[ f[hc_jW iebkY_edWh Yedjhe# l[hi_Wi h[bWj_lWi W _dl[hi_ed[i$ 9ehh[W \ehckbÂŒ [ij[ fhedkdY_W# c_[dje bk[]e Z[ Zei W‹ei o YkW# jhe c[i[i gk[ ;YkWZeh i[ h[j_hW# hW Z[b 9[djhe ?dj[hdWY_edWb Z[ 7hh[]be Z[ :_\[h[dY_Wi H[bWj_lWi W ?dl[hi_ed[i 9_WZ_ " WZiYh_je Wb 8WdYe CkdZ_Wb$
) # ,()ŋ-vŋ- ,6ŋ /(ŋ .),ŋ*)&v.# )ŋ (ŋ& ŋ )(-/&.
2Ŋ.1% -(9 !(.Ĺ -#2Ŋ/.+~3(! 2Ŋ"#Ŋ ./.2(!(¢-Ŋ!4#23(.Ĺ - 1.-Ŋ+ Ŋ"#!(2(¢-Ŋ "#+Ŋ ēŊ
9Whbei 9ehjƒi" l_Y[fh[i_Z[dj[ Z[b 9edi[`e DWY_edWb ;b[YjehWb 9D; " _d\ehcÂŒ gk[ [b fb[de Z[b eh]Wd_ice WfheXÂŒ bW ieb_Y_jkZ fh[i[djWZW feh [b =eX_[hde fWhW i[h jecWZe [d Yk[djW [d bW YWc# fW‹W Z[ bW YedikbjW fefkbWh$ 7i‡" [b fh[i_Z[dj[ HW\W[b 9e# hh[W feZh| X[d[\_Y_Whi[ Z[ bWi \hWd`Wi fkXb_Y_jWh_Wi ]hWjk_jWi gk[ fWkjWh| [b 9D; [d bei c[Z_ei Z[ Yeckd_YWY_ÂŒd" f[he de feZh| WY# Y[Z[h W \edZei fWhW bW YWcfW‹W" feh be gk[ de d[Y[i_jW _diYh_X_h kd j[ieh[he" [nfh[iÂŒ 9ehjƒi$ BW Z[Y_i_ÂŒd i[ jecÂŒ bk[]e Z[ h[Y_X_h kdW YWhjW [d bW gk[ [b @[\[ Z[ ;ijWZe ieb_Y_jWXW gk[ i[ f[hc_# jW bW fWhj_Y_fWY_ÂŒd Z[b =eX_[hde" be YkWb \k[ WYe]_Ze feh bW cWoeh‡W Z[ Yedi[`[hei XW`e bW fh[c_iW Z[ gk[ [b Fh[i_Z[dj[ [i kd Æik`[je feb‡j_Ye b[]‡j_ceÇ o gk[ WZ[c|i [i [b fhefed[dj[ Z[ bW YedikbjW$
2ĹŠ1# !!(.-#2
HW\W[b :|l_bW 99 cWd_\[ijÂŒ gk[ Æ[ije de [i del[ZeieÇ" oW gk[ [iW ^W i_Ze bW WYj_jkZ f[h# cWd[dj[ Z[b 9D; Æ[djh[]WZe feh Yecfb[je Wb =eX_[hdeÇ" o W]h[]ÂŒ gk[ ƒij[ oW Yk[djW Yed jeZe [b WfWhWjW`[ [ijWjWb fWhW cel_b_pWhbe [d YWcfW‹W" ÆYece [\[Yj_lWc[dj[ be ^WY[Ç$ De ^Wo kd eh]Wd_ice _dZ[# f[dZ_[dj[ gk[ Yedjheb[ o b[ fk[# ZW fed[h kd Wbje ÆWb kie o WXkie Z[ bei \edZei f‘Xb_Yei fWhW \W#
ēŊ 2ĹŠ.1% -(9 !(.-#2ĹŠ2.!( +#2ĹŠ8ĹŠ/.+~3(! 2ĹŠ!.-3(-ĂŒ -ĹŠ(-2!1( (_-".2#ĹŠ / 1 ĹŠ+ ĹŠ! ,/  ē
+Ŋ 23 ".Ŋ3(#-#Ŋ+.2Ŋ 1#!412.2Ŋ#!.-¢,(Ĺ !.2Ŋ/ 1 Ŋ' !#1Ŋ4- Ŋ ! ,/  Ŋ,4+3(,(++.- 1( Ŋ 8Ŋ4-Ŋ / 1 3 )#Ŋ,#"(;3(!.Ŋ (,/1#2(.- -3#ĔŊ04#Ŋ+.2Ŋ 43(+(9 Ŋ2(-Ŋ14 .1Ŋ +%4-.Ģē Ŋ : } Ŋ
leh[Y[h kdW fei_Y_ÂŒd feb‡j_YWÇ" Wi[l[hÂŒ :|l_bW" gk_[d Yedi_Z[hW gk[ [ie [i f[YkbWZe$ ÆBe ‘d_Ye gk[ ^WY[d [i Wc# fb_Wh bWi fei_X_b_ZWZ[i Z[b =e# X_[hdeÇ" [nfkie <Wkije 9eXe FIF [nfh[iWdZe gk[ [b =e# X_[hde fWhj_Y_fWh| Æfeh ZeXb[Ç [d bW YWcfW‹W" oW gk[ 7b_WdpW F7?I jWcX_ƒd h[Y_X_h| [ifWY_ei [d bWi \hWd`Wi fkXb_Y_jWh_Wi$ :_WdW 7jWcW_dj FA Yh_j_# YÂŒ gk[ :eh_i Ieb_p" c_d_ijhW Z[ 9eehZ_dWY_ÂŒd Z[ bW Feb‡j_YW" i[
2Ŋ1#231(!!(.-#2 ŗŊŊ 1+.2Ŋ .13_2ĔŊ5(!#/1#2("#-3#Ŋ "#+Ŋ .-2#).Ŋ !(.- +Ŋ +#!3.1 +Ŋ
ĸ ĚĔŊ#7/+(!¢Ŋ04#ĹŠ+ 2ĹŠ! ,/  2ĹŠ /4 +(!(3 1( 2ĹŠ04#ĹŠ/1.5#-% -ĹŠ"#ĹŠĹŠ (-23(34!(.-#2ĹŠ/ĂŒ +(! 2ĹŠ/ 1 ĹŠ(-$.1, 1ĹŠ ĹŠ+ ĹŠĹŠ!(4" " -~ ĔŊ"# #1;-ĹŠ!.-3 1ĹŠ!.-ĹŠ + ĹŠ 43.1(9 !(¢-ĹŠ"#+ĹŠ ĔŊ8ĹŠ04#ĹŠ+ 2ĹŠ /4 +(! !(.-#2ĹŠ1# +(9 " 2ĹŠ2. 1#ĹŠ. 1 2ĹŠ .ĹŠ/1.8#!3.2ĹŠ/ĂŒ +(!.2ĹŠ-.ĹŠ/."1;-ĹŠ!.-Äą 3#-#1ĹŠ+.2ĹŠ+#, 2ĹŠÄĄ ĹŠ1#5.+4!(¢-ĹŠ!(4Äą " " - ĹŠ#23;ĹŠ#-ĹŠ, 1!' ĢŊ8ĹŠÄĄ ĹŠ/ 31( ĹŠ 8 ĹŠ#2ĹŠ"#ĹŠ3.".2ĢĔŊ/.104#ĹŠ/1.,4#5#-ĹŠ 4- ĹŠ/.2341 ĹŠ$1#-3#ĹŠ ĹŠ+ ĹŠ5.3 !(¢-Ä“
^WoW WZ[bWdjWZe Z_Y_[dZe gk[ [b =eX_[hde i‡ _XW W fWhj_Y_fWh [d bW YWcfW‹W" o Wh]kc[djŒ gk[ Yed [ijW Z[Y_i_Œd i[ Wk# c[djW bW _d_gk_ZWZ \h[dj[ W bW YWcfW‹W [b[YjehWb" Z[`WdZe [d Z[il[djW`W W bWi eh]Wd_pWY_ed[i [d efei_Y_Œd$
)-*#. &ŋ ŋ '), ąŋ & ( )ŋ ŋ ,v.# Ŋš ;b ^eif_jWb @kb_ki :e[f\#
ēŊ .2Ŋ1#/1#2#-3 -3#2Ŋ"#+Ŋ +.04#Ŋ /1.5#!' 1.-Ŋ#+Ŋ#-!4#-31.Ŋ/ 1 Ŋ #7/1#2 1Ŋ24Ŋ2.+(" 1(" "Ŋ!.-Ŋ /¢-ē
d[h" Z[ PWcehW" ZkhWdj[ [b jhWdi# Ykhie Z[ bW i[cWdW ^W h[Y_X_Ze lWh_Wi Yh‡j_YWi$ CWh‡W ;dYWhdW# Y_Œd h[l[bŒ gk[ kdW iki ieXh_dWi" gk_[d i[ [dYedjhWXW [d bWXeh Z[ fWhje" de jkle bW Wj[dY_Œd cƒZ_# YW Z[X_ZW$ 7 Z[Y_h Z[ bW kikWh_W" [b ^eif_jWb de YedjWXW Yed kd cƒZ_Ye Wd[ij[i_Œbe]e o Wdj[ [bbe" i[ fkie [d YedjWYje Yed [b [if[# Y_Wb_ijW <h[Zo IWh_jWcW" gk_[d i[ e\h[Y_Œ W WokZWhbW [d bW Y[i|h[W" i_d [cXWh]e" bWi [d\[hc[hWi 8h‡# ]_ZW 8[d‡j[p o :_ei[b_dW HWcŒd" ^WXh‡Wd cWd_\[ijWZe gk[ [b gk_hŒ# \Wde i[ [dYedjhWXW YedjWc_dWZe$ ;ije eYWi_edŒ gk[ bei \Wc_# b_Wh[i i[ bb[lWhWd kd ]hWd ikije" fk[ije gk[ bW cWZh[ [ijWXW oW [d kdW i_jkWY_Œd Z[ [c[h][dY_W$ Je#
ēŊ 24 1(.2Ŋ"#, -" -Ŋ4- Ŋ,#).1Ŋ 3#-!(¢-ē
c|i 9|hZ[dWi" Z_h[Yjeh Z[b ^eif_# jWb" cWd_\[ijÂŒ gk[ bWi _dl[ij_]WY_e# d[i Z[b YWie i[ [ij|d [\[YjkWdZe fWhW jecWh Yehh[Yj_lei$ Æ>[cei h[Y_X_Ze kdW dej_Ă’ YWY_ÂŒd _dZ_YWd# Ze gk[ i[ Z_e kdW Yeckd_YWY_ÂŒd de Y[hj[hW Z[ kdW \kdY_edWh_W Z[b ^eif_jWb" _dZ_YWdZe gk[ [b gk_hÂŒ\W#
de [ijWXW YedjWc_dWZe" YeiW gk[ de \k[ Wi‡" oW gk[ i[ b[ fkZe fhWY# j_YWh bW Y[i|h[WÇ" _dZ_YÂŒ 9|hZ[dWi$ I[ _dZ_YÂŒ gk[" Wb cec[dje" [d [b ^eif_jWb @kb_ki :e[f\d[h de i[ ^W h[fehjWZe d_d]‘d j_fe Z[ _d# \[YY_ÂŒd" Yece i[ ^W ZWZe [d ejhWi YWiWi Z[ iWbkZ Z[b fW‡i$
&&šŋ #&#! ( # ŋ (ŋ &ŋýúĚ
8Ŋ,4!'.2Ŋ#+#,#-Ĺ 3.2Ŋ"#Ŋ(,/1#!(2(¢-Ŋ 04#Ŋ54#+5#-Ŋ Ŋ+ Ŋ2#-Ĺ 3#-!( Ŋ(,/1 !3(! +#Ģē Ŋ ¥
.2ĹŠ 1%4,#-3.2ĹŠ Ĺ—ĹŠĹŠ +ĹŠ/1#2("#-3#ĹŠ"#ĹŠ #15#!#1~ ĹŠ !(.- +ĔŊ . #13.ĹŠ 11~-ĔŊ1#(3#1¢Ŋ04#ĹŠ 3." ĹŠ+ ĹŠ2#-3#-!( ĹŠ#2ĹŠ2.2/#!'.2 ĹŠ8ĹŠ / 1#!(" ĹŠ ĹŠ4- ĹŠ1#/1."4!!(¢-ĹŠ+(3#1 +ĹŠ "#ĹŠ+.2ĹŠ 1%4,#-3.2ĹŠ#2%1(,(".2ĹŠ/.1ĹŠ +.2ĹŠ1#!+ , -3#2ĹŠ8ĹŠ#+ĹŠ!ĂŒ,4+.ĹŠ"#ĹŠ !.-!#2(.-#2ĹŠ(+#% +#2ĹŠ ĹŠ3.".2ĹŠ242ĹŠ /#"(".2ĔŊ"#2#!' -".ĹŠ+.2ĹŠ 1%4,#-Äą 3.2ĹŠ"#ĹŠ+ ĹŠ#,/1#2 ĹŠ8ĹŠ242ĹŠ+#%~3(,.2ĹŠ "#1#!'.2Ä“ ÄĄ +ĹŠ$ ++.ĹŠ-.ĹŠ2.+.ĹŠ/1#3#-"#ĹŠ. +(% 1-.2ĹŠ ĹŠ/ % 1ĔŊ!.,.ĹŠ2#ĹŠ' ĹŠ" ".ĹŠ ĹŠ!.-.!#1Ä” 2(-.ĹŠ#2ĹŠ/#1#-3.1(.ĹŠ#-ĹŠ#7(%(1ĹŠ04#ĹŠ2#ĹŠ (-!+48 ĹŠ24/4#23.2ĹŠ(-3#1#2#2ĹŠ! 42 Äą ".2ĹŠ"#2"#ĹŠÄˆÄ’Ä’Ä‡Ä˘Ä”ĹŠ#7/+(!¢ē
ēŊ . #13.Ŋ ¢,#9Ŋ #1 ĔŊ .% ".Ŋ#73#1-.Ŋ"#Ŋ+ Ŋ ĔŊ !.,/  ¢Ŋ#23 Ŋ 2#, - Ŋ Ŋ31#2Ŋ#)#!43(5.2Ŋ04#Ŋ$4#1.-Ŋ Ŋ+ Ŋ (2! +~ ē
7o[h" [b WXe]WZe Z[\[dieh" =k_Ze ;iYeXWh Fƒh[p" i[ ^_pe fh[i[dj[ jhWi i[h dej_Ă’ YWZe feh bW <_iYWb‡W fWhW gk[ [b iWh][dje Z[ feb_Y‡W Bk_i 7d‡# XWb CWhj‡d[p YecfWh[pYW W h[dZ_h ik l[hi_ÂŒd ieXh[ bei ^[Y^ei Z[b )& Z[ i[fj_[cXh[ fWiWZe$ ;iYeXWh i[ [nYkiÂŒ o i[‹W# bÂŒ gk[ ik Z[\[dZ_Ze i[ WYe][# h| Wb Z[h[Y^e Wb i_b[dY_e" Z_`e Wo[h [b Ă’ iYWb [dYWh]WZe Z[ bW _dl[ij_]WY_ÂŒd$ I_d [cXWh]e" de i[ Z[iYWhjW bW fei_X_b_ZWZ gk[ i[ lk[blW W dej_Ă’ YWh fWhW
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
Ć
gk[ YecfWh[pYW W h[dZ_h ik l[hi_Œd$ ;b [niWh][dje Z[ Feb_Y‡W" Bk_i 7d‡XWb CWhj‡d[p L_bW‹[p" \k[ bbWcWZe W `k_Y_e Yece Wkjeh Z[b Z[b_je Z[ j[djWj_lW Z[ Wi[i_dWje [d YedjhW Z[ Fh[i_Z[dj[ Z[ bW H[f‘Xb_YW jhWi bei ^[Y^ei Z[b )&#I$ 7Z[c|i" [b kd_\ehcW# Ze [d\h[djW ejhe fheY[ie [d [b gk[ [i WYkiWZe Yece YŒcfb_Y[ Z[ bW Z[iWfWh_Y_Œd Z[ =[eh]o 9[Z[‹e" eYkhh_ZW [b )& Z[ i[f# j_[cXh[ Z[b (&&/$ CWhj‡d[p \k[ c_[cXhe Z[b oW Z[iWfWh[Y_Ze =hkfe Z[ 7feoe Ef[hWY_edWb =7E $
/ (. Ĺ‹ Ĺ‹ ,, Ĺ‹ Ąŋ -/* , Ĺ‹ &Ĺ‹' #)Ĺ‹ '#&&š(Ĺ‹ Ĺ‹ š& , +ĹŠ/ %.ĹŠ"#ĹŠ+.2ŊĒćŊ,(++.-#2ĹŠ"#ĹŠ"¢+ 1#2ĹŠ "# #1;ĹŠ#2/#1 1ĹŠ3.".2ĹŠ+.2ĹŠ1#!412.2ĹŠ+#Äą % +#2ĹŠ04#ĹŠ+#ĹŠ 2(23#-ĹŠ ĹŠ+ ĹŠ Ä“ BW <_iYWb‡W =[d[hWb Z_ifkie [b Yed][bWc_[dje Z[ bW Yk[djW Z[ W^ehhei Z[ 7b\h[Ze BWhh[W @_`ÂŒd" ^[hcWde Z[b W^ehW [n# i[Yh[jWh_e Z[ bW 9ehj[ 9edi# j_jkY_edWb" 7hjkhe BWhh[W @_# `ÂŒd" gk_[d j_[d[ kd iWbZe Z[ ++&$&&& ZÂŒbWh[i [d kdW Yee# f[hWj_lW Z[ W^ehhe o YhƒZ_je" Ykoe decXh[ i[ cWdj_[d[ [d h[i[hlW$ BWi _dl[ij_]WY_ed[i Z[ bW <_i# YWb‡W jWcX_ƒd b[ i_]k[d bW f_i# jW W bei ejhei +&&$&&& ZÂŒbWh[i gk[ h[Y_X_ÂŒ 7b\h[Ze BWhh[W Z[ bW 9[hl[Y[h‡W DWY_edWb 9D " Yece fW]e Wb Wi[iehWc_[dje b[]Wb [d cWj[h_W bWXehWb o Yedij_jkY_edWb$ >WijW bW \[Y^W" [ij[ ieif[Y^e#
ie i[ cWdj_[d[ ^WY_[dZe kie Z[b Z[h[Y^e Wb i_b[dY_e o bW <_iYWb‡W de ^W feZ_Ze h[YWXWh ik l[hi_ÂŒd Z[ bei ^[Y^ei gk[ i[ _dl[ij_]Wd" h[if[Yje Z[ kd ikfk[ije ÆfW]eÇ Z[ kd c_bbÂŒd Z[ ZÂŒbWh[i fWhW gk[ bW 99 [c_jW kd \Wbbe W \Wleh Z[ bW 9[hl[Y[h‡W DWY_edWb$ 31 2ĹŠ5#12(.-#2
:[djhe Z[ bW c_icW _dl[ij_]W# Y_ÂŒd" Wo[h WYkZ_ÂŒ W bW <_iYWb‡W W h[dZ_h ik l[hi_ÂŒd CWh‡W 7b[`Wd# ZhW Ck‹ep" WXe]WZW _dj[hdW Z[ bW 9D" gk_[d W ik iWb_ZW hWj_Ă’ YÂŒ gk[ [b j[cW [ij| i_[dZe _dl[ij_# ]WZe feh [b <_iYWb o de fk[Z[ [d# jhWh [d Z[jWbb[i$ F[he" HeX[hje =ÂŒc[p C[hW"
WXe]WZe [nj[hde Z[ bW 9D" _di_i# j_Œ gk[ bW i[dj[dY_W Z[ bW IWbW F[# dWb Z[ =kWoWgk_b [d YedjhW Z[ bW [cfh[iW [i _cfhWYj_YWXb[" fk[i Yedj_[d[ kd \Wbbe `kh‡Z_Ye dkdYW Wdj[i l_ije [d [b fW‡i" fehgk[ i[ YedZ[dW W f[hiedWi gk[ de ^Wd i_Ze fWhj[ [d [b fheY[ie$ ;nfb_YŒ gk[ bW WYY_Œd Z[ fhe# j[YY_Œd \k[ Z_h_]_ZW Wb C_d_ij[h_e Z[ JhWXW`e fehgk[ bei [n jhWXW`W# Zeh[i ieij[d‡Wd gk[ [bbei j[d‡Wd Z[h[Y^e W bW c_icW h[iebkY_Œd gk[ [c_j_Œ [iW 9Whj[hW Z[ ;ijWZe Wdj[i Yed [cfh[iW EBI?D" fh[# j[dZ_[dZe gk[ jeZei bei YWiei ied _]kWb[i o [ije de [i Wi‡" f[he [i W bW 9D W bW gk[ i[ b[ YedZ[dW$ :_`e gk[ fWhW bW jƒYd_YW fhe# Y[iWb" [ie [i Wdj_`kh‡Z_Ye o WZ[# c|i i[ YedY[Z[d *. ^ehWi fWhW Ykcfb_h Yed bW i[dj[dY_W" i_d ^WY[h kd i[‹WbWc_[dje Z[ fhe# Y[Z_c_[dje fWhW b_gk_ZWY_Œd Z[ ikfk[ijei _dj[h[i[i$
., Ĺ‹0 4Ĺ‹ -)Ĺ‹ -., *)Ĺ‹ (Ĺ‹& Ĺ‹& !/( Ĺ‹ Ĺ‹ ' ) BW bW]kdW Z[ OWcXe" [d bW fhe# Z[b bk]Wh Z[ bei ^[Y^ei [d bW BW# l_dY_W Z[ Jkd]khW^kW" lebl[h| ]kdW Z[ OWcXe o fWhW [b [\[Yje W i[h Z[iZ[ [b fhÂŒn_ce bkd[i '* eĂ’ Y_ÂŒ Wb @[\[ Z[b :[fWhjWc[dje Z[ 9h_c_dWb‡ij_YW Z[ bW Feb_Y‡W Z[ cWhpe" [b [iY[dWh_e Z[ @kZ_Y_Wb Z[ Jkd]khW^kW W f[igk_iWi `kZ_Y_Wb[i gk[ Ă’ d Z[ gk[ Z[i_]d[ Zei f[h_# ejhW l[p _dj[djWh|d ZWh ĹŠ jei fWhW ZWh Ykcfb_c_[dje Yed bW l[hZWZ ieXh[ bW Z[# iWfWh_Y_ÂŒd o ck[hj[ Z[ bei +ĹŠ, 13#2ĹŠ/1¢7(Äą W [ijW Z_ifei_Y_ÂŒd$ FWhW bW Z_b_][dY_W i[ ^[hcWdei H[ijh[fe 7h_i# ,.ĔŊ#+ĹŠ$(2! +ĹŠ (;-ĹŠ + 9 1ĔŊ c[dZ_" ^[Y^e eYkhh_Ze [d "#ĹŠ '(, .1 9.ĔŊ YedjWh| Yed bW YebWXehW# ++ ,¢Ŋ ĹŠ+ 2ĹŠ5~!3(Äą Y_ÂŒd Z[ kd ]hkfe [if[Y_Wb_# '/..$ , 2ĹŠ#-ĹŠ+.2ĹŠÄˆÄˆÄ‘ĹŠ ;b Ă’ iYWb Z[ bW Kd_ZWZ ! 2.2ĹŠ04#ĹŠ(-5#2Äą pWZe fWhW [b h[YedeY_c_[d# 3(% ĹŠ#23 ĹŠ je Z[b bk]Wh" Yecfk[ije ;if[Y_Wb_pWZW Z[ bW 9ec_# .,(2(¢-Ä“ feh c_[cXhei Z[b =hkfe i_ÂŒd Z[ bW L[hZWZ" <WX_|d Z[ ?dj[hl[dY_ÂŒd o H[iYWj[ IWbWpWh" Z_ifkie fWhW [ij[ bkd[i" W fWhj_h Z[ bWi &/0&&" gk[ =?H " 9hkp He`W" :[\[diW 9_# i[ fhWYj_gk[ [b h[YedeY_c_[dje l_b o 8ecX[hei Z[ bW Y_kZWZ Z[
7cXWje$ ;d jWdje gk[ fWhW [b c_ƒhYe# b[i ', Z[ cWhpe" W bWi &.0)&" i[ Z_ifkie bW h[YedijhkYY_ÂŒd Z[ bei ^[Y^ei [d bW gk[XhWZW Z[ FWY^W FWhj_Z[he W JkcXWYe " fWhW be YkWb i[ eĂ’ Y_ÂŒ Wb @[\[ Z[b :[fWh# jWc[dje Z[ 9h_c_dWb‡ij_YW Z[ bW Feb_Y‡W @kZ_Y_Wb Z[ F_Y^_dY^W W Ă’ d Z[ gk[ Z[i_]d[ f[h_jei fWhW ZWh Ykcfb_c_[dje W [ijW Z_i# fei_Y_ÂŒd1 Wb i[‹eh @[\[ Z[b =?H" bW 9hkp He`W o bW :[\[diW 9_l_b" gk[ [dl‡[d kd ]hkfe [if[Y_Wb_pW# Ze fWhW bW h[YedijhkYY_ÂŒd Z[ bei ^[Y^ei" Z[iY[die W bW gk[XhWZW o h[YedeY_c_[dje Z[b bk]Wh$
ēŊ 31(!(.Ŋ 9,( .ĔŊ/1#2("#-3#Ŋ"#Ŋ+ Ŋ ē
4'#˜)Ĺ‹ & , Ĺ‹-/Ĺ‹, & #š(Ĺ‹ )(Ĺ‹ & , )Ĺ‹ ,, Ĺ‹ / ( ;b fh[i_Z[dj[ Z[ bW 9ehj[ 9edij_jkY_edWb 99 " FWjh_Y_e FWpc_‹e" [nfb_YÂŒ gk[ [b j[cW Z[ iki Yk[djWi fWjh_ced_Wb[i oW [ij| XW`e bW eXi[hlWY_ÂŒd Z[ bW 9edjhWbeh‡W =[d[hWb o fWhW [bbe fh[i[djÂŒ jeZei bei ZeYk# c[djei o Wh]kc[djei Wdj[ [b eh]Wd_ice Z[ Yedjheb$ ;b \kdY_edWh_e ^WXbÂŒ WZ[# c|i Z[ ik h[bWY_ÂŒd Yed 7b# \h[Ze BWhh[W 9k[dYW o Z_`e gk[ [n_ij[d Y[hj_\_YWY_ed[i [d bW 7iWcXb[W DWY_edWb Z[ bW Wc_ijWZ o h[bWY_ÂŒd Z[ jhWXW`e gk[ cWdjkle Yed [ijW f[hiedW W^ehW \Wbb[Y_ZW o gk[ YedijW [d ik Z[YbWhWY_ÂŒd Z[ X_[d[i Yece Z[kZeh Z[ )+ c_b ZÂŒbWh[i$ I[]‘d FWpc_‹e" Z[iZ[ '//* YedeY[ W BWhh[W 9k[dYW" oW gk[ \k[hed Wi[ieh[i [d [b Z[#
iWfWh[Y_Ze 9ed]h[ie DWY_edWb$ ("#-ĹŠ"(2!4+/#
:‡Wi Wjh|i" 8[bbW DeXeW" l_kZW Z[ 7b\h[Ze BWhh[W 9k[dYW" [n_# ]_ÂŒ gk[ FWjh_Y_e FWpc_‹e" i[ Z_i# Ykbf[ f‘Xb_YWc[dj[ feh ^WX[h WĂ’ hcWZe gk[ ik [ifeie b[ Z[X[ )+ c_b ZÂŒbWh[i$ BW l_kZW h[_j[hÂŒ gk[ ik YÂŒd# ok][ `Wc|i b[ Yed\[iÂŒ j[d[h Wb]k# dW Yk[djW f[dZ_[dj[" f[eh W‘d" YkWdZe ƒb [hW kdW f[hiedW Wkij[hW o [d[c_]W Z[ Z[X[h Z_d[he$ DeXeW jWcX_ƒd h[l[bÂŒ kdW :[YbWhWY_ÂŒd Z[ 8_[d[i gk[ ^_pe ik [ifeie fWhW jhWXW`Wh Yece WXe# ]WZe Z[ bW H[]_edWb ' Z[ bW FheYk# hWZkh‡W =[d[hWb Z[b ;ijWZe" feh f[Z_Ze Z[b [nfheYkhWZeh NWl_[h =WhW_YeW" Z[YbWhWY_ÂŒd [d bW gk[ de YedijWh‡W d_d]kdW Z[kZW$
1#5#-!(.-#2ĹŠ Ĺ—ĹŠĹŠ ĹŠ -(" "ĹŠ"#ĹŠ(-" % !(.-#2ĹŠ/1#5( 2ĹŠ"#ĹŠ+ ĹŠ (2! +~ ĹŠ #-#1 +ĹŠ#234"( ĹŠ+ ĹŠ/.2( (Äą +(" "ĹŠ"#ĹŠ++ , 1ĹŠ +ĹŠ/1#2("#-3#ĹŠ"#ĹŠ+ ĹŠ .13#ĹŠ .-23(34!(.- +ĔŊ 31(!(.ĹŠ 9,( .ĔŊ ).ĹŠ /1#5#-!(.-#2ĹŠ"#ĹŠ+#8ĹŠ/ 1 ĹŠ04#ĹŠ2#ĹŠ !#104#ĹŠ ĹŠ1#-"(1ĹŠ24ĹŠ5#12(¢-ĹŠ"#ĹŠ+.2ĹŠ'#!'.2ĹŠ 04#ĹŠ2#ĹŠ(-5#23(% -ĔŊ#-ĹŠ1 9¢-ĹŠ"#ĹŠ04#ĹŠ#-ĹŠ".2ĹŠ./.134-(" "#2ĹŠ!.-2#!43(5 2ĹŠ#23#ĹŠ $4-!(.- 1(.ĹŠ2#ĹŠ' ĹŠ#7!42 ".ĹŠ"#ĹŠ 2(23(1ĹŠ8ĹŠ' ĹŠ/#"(".ĹŠ04#ĹŠ2#ĹŠ+#ĹŠÄƒĹŠ)#ĹŠ-4#5.ĹŠ"~ ĹŠ8ĹŠ '.1 ĹŠ/ 1 ĹŠ"(!' ĹŠ"(+(%#-!( ēŊ
ć
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
-4 +ĹŠ/ 1 ĹŠ!4+3(5.2ĹŠ"#ĹŠ!(!+.ĹŠ!.13.
+Ŋ -23(343.Ŋ !(.- +Ŋ"#Ŋ -5#23(% !(.-#2Ŋ %1./#!4 1( 2ĔŊ Ŋ31 5_2Ŋ"#Ŋ+ Ŋ#23 !(¢-Ŋ#7/#1(,#-3 +Ŋ .13.5(#).ĔŊ#+ .1¢Ŋ4-Ŋ, -4 +Ŋ/ 1 Ŋ!4+3(5.2Ŋ"#Ŋ!(!+.Ŋ!.13.ēŊ #"( -3#Ŋ#23#Ŋ".!4,#-3.ĔŊ+.2Ŋ %1(!4+3.1#2Ŋ!4#-3 -Ŋ!.-Ŋ4- Ŋ%4~ Ŋ2. 1#Ŋ /+(! !(¢-Ŋ"#Ŋ3#!-.+.%~ 2Ŋ %1~!.+ 2Ŋ )423 " 2Ŋ Ŋ+.2Ŋ!4+3(5.2Ŋ"#Ŋ#23#Ŋ3(/.ēŊ +Ŋ3#73.Ŋ2#Ŋ #-!4#-31 Ŋ#-Ŋ+ Ŋ/;%(- Ŋ6# Ŋ666ē(-( /Ĺ#!4 ".1ē%. ē#!
- # Ćŋŋýúŋ'#&&)( -Ĺ‹* , Ĺ‹#(# # .#0 -Ĺ‹ 23#ĹŠ.1% -(2,.ĹŠ"#23(- ĹŠ1#!412.2ĹŠ ĹŠ /1.%1 , 2ĹŠ/ĂŒ +(!.2ĹŠ8ĹŠ/1(5 ".2ēŊ ĹŠ #"ĹŠ 1."4!3(5 ĹŠ#2ĹŠ4-.ĹŠ"#ĹŠ#++.2ēŊ
BW 7][dY_W Z[ bei ;ijWZei Kd_# fWhW fhecel[h bW fh[i[hlWY_ÂŒd Zei fWhW [b :[iWhhebbe KiW_Z" Z[ ^|X_jWj [d h_[i]e [d =kWoWi" feh ik i_]bWi [d _d]bƒi Z[ij_dWh| Wi‡ Yece [b Yk_ZWZe Z[ Xeigk[i o [d [ij[ W‹e Wbh[Z[Zeh Z[ )& c_# Z[ bWi Yk[dYWi ^_ZhebÂŒ]_YWi c|i bbed[i Z[ ZÂŒbWh[i W ;YkWZeh$ ;i# _cfehjWdj[i Z[b fW‡i$ ;d [b |cX_je [YedÂŒc_Ye" jei h[Ykhiei de h[[cXebiWXb[i i[ YebeYWd W jhWlƒi Z[ fheo[Yjei" ]hWd fWhj[ Z[ bei \edZei lWd Wb oW i[Wd fh_lWZei e f‘Xb_Yei" gk[ fheo[Yje H[Z FheZkYj_lW$ ;ij[ _cfkbi[d [b Z[iWhhebbe [d bWi fhe]hWcW jhWXW`W Yed 7][dY_Wi |h[Wi0 [YedÂŒc_YW" iWbkZ" [ZkYW# Z[ :[iWhhebbe ;YedÂŒc_Ye BeYW# b[i Yh[WZei feh ]eX_[hdei i[Y# Y_ÂŒd o WcX_[dj[$ 8[hdW_ L[bWhZ[" Z_h[Yjeh Z[ Y_edWb[i " W jhWlƒi Z[ bWi YkWb[i i[ \ec[djWd e _dYkXWd Z[iWhhebbe [YedÂŒc_Ye Z[ KiW_Z" [nfb_YÂŒ gk[ [d bei ĹŠ c_Yhe[cfh[iWi e YWZ[# dWi Z[ lWbeh fheZkYj_lWi ‘bj_cei Y_dYe W‹ei i[ ^Wd Wb_WdpWi [djh[ f[gk[‹ei Z[i[cXebiWZe Z[ (, W )& fheZkYjeh[i Yed ]hWdZ[i c_bbed[i Z[ ZÂŒbWh[i WdkW# 1 ĹŠ, 8.1ĹŠ (-$.1, !(¢-ĹŠ [cfh[iWi" fWhW gk[ b[i b[i fWhW Ă’ dWdY_Wh fhe]hW# (-%1#2 1ĹŠ ĹŠ+ ĹŠ /;%(- ĹŠ6# ĹŠ"#ĹŠ Yecfh[d Z_h[YjWc[dj[ $ cWi Z[ [ij[ j_fe$ :[ [ijei" ĹŠ BW \ÂŒhckbW Z[ Wfeoe bei h[bWY_edWZei W bW Yed# !4 ".1Ä–ĹŠ#!4 Äą ".1Ä“42 ("Ä“%.5 jƒYd_Ye o [YedÂŒc_Ye [i bW i[hlWY_ÂŒd Z[b WcX_[dj[ o i_]k_[dj[0 YWfWY_jWY_ÂŒd" Z[iWhhebbe fheZkYj_le ied c|i +& Z[ \_dWdY_Wc_[dje" bei gk[ c|i h[Ykhiei h[Y_X[d$ ;d [b j[cW WcX_[djWb" feh [b c|i +& Z[ YedjhWfWhj[ Z[ bei cec[dje" KiW_Z WfeoW jh[i fhe# X[d[Ă’ Y_Wh_ei$ 7 jhWlƒi Z[ H[Z FheZkYj_lW o[Yjei0 9eijWi o 8eigk[i _d_Y_W# j_lW f‘Xb_YW " 9edi[hlWY_ÂŒd ?d# jWcX_ƒd i[ ^Wd ][d[hWZe W][d# Z‡][dW Z[ bW 7cWped_W Dehj[ o Y_Wi Z[ WjhWYY_ÂŒd Z[ _dl[hi_e# 9edi[hlWY_ÂŒd Z[ bWi 9k[dYWi Z[b d[i$ IÂŒbe [d (&'&" Æi[ WjhW`[# 7]kW$ ;d bei jh[i fheo[Yjei ejeh# hed Wbh[Z[Zeh Z[ '&/ c_bbed[i ]W Wi_ij[dY_W jƒYd_YW o [YedÂŒc_YW Z[ ZÂŒbWh[iÇ" [nfb_YÂŒ 7cWdZW
ēŊ -Ŋ/1.8#!3.Ŋ /.8 ".Ŋ/.1Ŋ 2 ("Ŋ#-Ŋ1#+ !(¢-Ŋ Ŋ+ Ŋ/1."4!!(¢-Ŋ"#Ŋ )~ēŊ
<[hd|dZ[p" Z_h[YjehW Z[ H[Z FheZkYj_lW$ @kijWc[dj[" [d i[fj_[cXh[ Z[b W‹e fWiWZe i[ h[delÂŒ bW i[# ]kdZW \Wi[ Z[ Wfeoe fWhW [ij[ fheo[Yje$ Æ;d [ij[ i[]kdZe fhe]hWcW i[ Z[ij_dWh|d ."* c_# bbed[i Z[ ZÂŒbWh[i" i[ jhWXW`Wh| Yed bei '( W][dY_Wi Z[ Z[iWhhe# bbe [YedÂŒc_Ye" f[he [ijW l[p [b Wfeoe i[ [d\eYWh| [d Z[iWhhebbe W]he_dZkijh_Wb o jkh_ice$
31.2Ŋ;, (3.2Ŋ"#Ŋ !!(¢-
KiW_Z WZ[c|i cWdj_[d[ kd fhe# ]hWcW Z[ ]WhWdj‡W Z[ fhƒijWcei$ I[ jhWjW Z[ kd \edZe gk[ Z[ij_dW bW eh]Wd_pWY_ÂŒd fWhW gk[ f[gk[# ‹ei fheZkYjeh[i WYY[ZWd W YhƒZ_# jei$ Âľ9ÂŒce \kdY_edW5 ÆDeiejhei ZWcei [b +& Z[b YhƒZ_je Yece ]WhWdj‡W Z[b cedje Z[b YhƒZ_jeÇ" [nfb_YÂŒ L[bWhZ[$ C[Z_Wdj[ [ij[ c[YWd_ice i[ ^Wd [djh[]WZe ()+ fhƒijWcei
feh . c_bbed[i Z[ ZÂŒbWh[i" Z[ bei YkWb[i" Wbh[Z[Zeh Z[ * c_bbed[i Z[ ZÂŒbWh[i ied h[Ykhiei Z[ Ki# W_Z [d ]WhWdj‡W$ Bei XWdYei gk[ jhWXW`Wd Yed [ij[ fhe]hWcW ied0 FheYh[Z_j o 9h[Z_\[$ L[bWhZ[ [nfb_YÂŒ gk[ fWhW X[d[Ă’ Y_Whi[ Z[ bW Wi_ij[dY_W [i d[Y[iWh_e \ehcWh fWhj[ Z[ bW YWh# j[hW Z[ fheo[Yjei Z[ bW 7][dY_Wi Z[ :[iWhhebbe ;YedÂŒc_Ye Z[ bei =eX_[hdei beYWb[i$
. ŋðŋ( &Ĺ‹ * , Ĺ‹ & , ,Ĺ‹ 3Ĺ‹* ! ,Ĺ‹ &Ĺ‹ 7kdgk[ oW fWiÂŒ bW \[Y^W Z[ l[d# Y_c_[dje fWhW h[Wb_pWh bW Z[YbW# hWY_ÂŒd Z[b ?cfk[ije W bW H[djW ?H fWhW bWi f[hiedWi Ykoe de# l[de Z‡]_je Z[ bW YƒZkbW e HK9 j[hc_dW [d ' o (" [b I[hl_Y_e Z[ H[djWi ?dj[hdWi I?H WdkdY_ÂŒ gk[ feZh|d h[Wb_pWh [b jh|c_j[ ^WijW [b )' Z[ cWhpe$ I_d [cXWh]e" bWi \[Y^Wi Z[ fW]e fWhW bei Yedjh_Xko[dj[i Yed del[de Z‡]_je Z[iZ[ [b ) ^WijW [b & i[ cWdj_[d[" i[]‘d [b Yhede]hWcW Z[ l[dY_c_[dje fWhW bW Z[YbWhWY_ÂŒd o fW]e Z[b ?H Yehh[ifedZ_[dj[ W (&'& [i# jWXb[Y_Ze l[h h[YkWZhe $ ;b Y_Ybe Z[ l[dY_c_[dje fWhW Ykcfb_h Yed [ijW eXb_]WY_ÂŒd jh_# XkjWh_W [cf[pÂŒ [b '& Z[ cWhpe fWhW bWi f[hiedWi dWjkhWb[i o [cf[pWh| W Yehh[h Z[b '& Wb (. Z[ WXh_b fWhW bWi ieY_[ZWZ[i$ F[he [b f[h‡eZe Z[ Z[YbWhWY_ÂŒd Z[ \ehcW ][d[hWb _d_Y_ÂŒ [d \[Xh[he$ ;ij[ jh_Xkje be Z[X[d Z[YbWhWh o [d [b YWie gk[ i[ ][d[h[ _c# fk[ije" fW]Wh jeZWi bWi f[hiedWi dWjkhWb[i Ykoei _d]h[iei WdkWb[i ^WoWd ikf[hWZe bW XWi[ _cfed_#
: ēŊ 24 1(.2ĹŠ"#ĹŠ+ ĹŠ %#-!( ĹŠ31( 43 1( ĹŠ1# +(9 -ĹŠ242ĹŠ"#!+ 1 !(.-#2ĹŠ#-ĹŠ+ 2ĹŠ .ÄƒĹŠ!(- 2ĹŠ"#+ĹŠ ĹŠ#-ĹŠ 4(3.ēŊ
Xb[ Ă’ `WZW [d (&'&0 .$/'& ZÂŒbWh[i _dYbko[ bei _d]h[iei" c[dei ]Wi# jei f[hiedWb[i $ JeZei bei gk[ ^WoWd ikf[hWZe [ij[ lWbeh Z[X[d Z[YbWhWh o fW]Wh iÂŒbe bei gk[ ^W# oWd ][d[hWZe _cfk[ije$ 9Whbei 9Wb[he" WdWb_ijW jh_Xk# jWh_e" [nfb_YÂŒ gk[ bW Z[YbWhWY_ÂŒd _dYbko[ [b h[]_ijhe Z[b lWbeh W fW# ]Wh Yece Wdj_Y_fe Z[b ?H Z[b W‹e i_]k_[dj[$ ;i Z[Y_h" i[ Z[X[ _dZ_# YWh [b cedje W fW]Wh Yece Wdj_# Y_fe Z[b ?H Z[b [`[hY_Y_e Ă’ iYWb Z[ (&''" gk[ i[ Z[X[h| YWdY[bWh [d i[fj_[cXh[ Z[ [ij[ W‹e$ 9Wb[he h[YehZÂŒ gk[ [b lWbeh Z[b Wdj_Y_fe i[ eXj_[d[ Z[ bW ikcW Z[b &$* Z[ WYj_lei" &$( Z[b fW# jh_ced_e" &$* Z[ bei _d]h[iei o &$( Z[ bei Yeijei o ]Wijei gk[ i[ fh[lƒd j[d[h ZkhWdj[ [b W‹e$ 7dejÂŒ gk[ [d [ij[ W‹e ^Wo bW
#!' 2ĹŠ"#ĹŠ "#!+ 1 !(¢-ĹŠ8ĹŠ/ %. .5#-.ĹŠĹŠĹŠĹŠĹŠ ~%(3.ĹŠ ĹŠ ÄŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠ ÄŒĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠ ÄŽĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠ Ä?ĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠ Ä?ĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠ đŊŊŊŊŊŊŊŊ Ä’ĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠ ćŊŊŊŊŊŊŊŊ ÄˆĹŠ8ŊĉŊŊ
#12.- 2ĹŠ 341 +#2ĹŠĹŠĹŠĹŠĹŠ ÄˆÄŒĹŠ"#ĹŠ, 19.ĹŠĹŠĹŠĹŠ ĈÄ?ĹŠ"#ĹŠ, 19.ĹŠĹŠĹŠĹŠ ÄˆÄ‘ĹŠ"#ĹŠ, 19.ĹŠĹŠĹŠĹŠ ĉćŊ"#ĹŠ, 19.ĹŠĹŠĹŠĹŠ ĉĉŊ"#ĹŠ, 19.ĹŠĹŠĹŠĹŠ Ä‰ÄŒĹŠ"#ĹŠ, 19.ĹŠĹŠĹŠĹŠ ĉÄ?ĹŠ"#ĹŠ, 19.ĹŠĹŠĹŠĹŠ ĉđŊ"#ĹŠ, 19.ĹŠĹŠĹŠĹŠĹŠ ' 23 ĹŠ#+ĹŠÄŠÄˆĹŠ"#ĹŠ, 19.
efY_ÂŒd Z[ h[]_ijhWh Yece Wdj_Y_# fe kd lWbeh Y[he$ 7Z[c|i h[Ye# c[dZÂŒ ^WY[hbe Z[X_Ze W gk[ ÆbW 9edij_jkY_ÂŒd [ijWXb[Y[ [b fW]e Z[ Wdj_Y_fei Z[ _cfk[ijei iÂŒbe [d [b YWie Z[ Z[YbWhWjeh_W Z[ [c[h][dY_Wi e feh Z[Yh[jeiÇ$
.-,#,.1 -".ĹŠ#+ĹŠÄˆÄˆÄą ĹŠ
(5#12.2ĹŠ !3.2ĹŠ"#ĹŠ'.,#- )#ĹŠ1#!.1" 1.-ĹŠ#23#ĹŠ5(#1-#2ĹŠ#-ĹŠ "1("ĹŠ ĹŠ+ 2ĹŠ5~!3(, 2ĹŠ"#ĹŠ+.2ĹŠ 3#-3 ".2ĹŠ"#+ĹŠÄˆÄˆĹŠ"#ĹŠ, 19.ĹŠ"#ĹŠ Ä‰Ä‡Ä‡ÄŒĹŠÄ¸ÄˆÄˆÄą ĚŊ +ĹŠ!4,/+(12#ĹŠ2(#3#ĹŠ  .2ĹŠ"#ĹŠ+ ĹŠ, 2 !1#ĹŠ! 42 " ĹŠ/.1ĹŠ#+ĹŠ 3 04#ĹŠ,ĂŒ+3(/+#ĹŠ!.-31 ĹŠ!4 31.ĹŠ31#-#2ĔŊ04#ĹŠ"#) 1.-ĹŠ ÄˆÄ’ÄˆĹŠ,4#13.2ĹŠ8ĹŠ! 2(ŊĉēćććŊ'#1(".2Ä“ 4!' 2ĹŠ"#ĹŠ+ 2ĹŠ5~!3(, 2ĹŠ#1 -ĹŠ(-,(%1 -3#2ēŊ
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
Ĉ
ēŊ (+#2ĹŠ"#ĹŠÄƒĹŠ#+#2ĔŊ"41 -3#ĹŠ+ ĹŠ.1 !(¢-ĹŠ"#+ĹŠ5(#1-#2ĹŠ#-ĹŠ+ ĹŠ + 9 ĹŠ"#ĹŠ+.2ĹŠ 49% ".2ĹŠ"#ĹŠ #-% 2(ĔŊ+ ĹŠ2#%4-" ĹŠ!(4" "ĹŠ,;2ĹŠ%1 -"#ĹŠ"#+ĹŠ/ ~2ĔŊ8ĹŠ04#ĹŠ2#ĹŠ' ĹŠ!.-5#13(".ĹŠ#-ĹŠ#+ĹŠ2~, .+.ĹŠ"#+ĹŠ+#5 -3 ,(#-3.ĹŠ/./4+ 1ĹŠ+( (.ēŊ
ŋ3ŋ Ą Ąŋ*# (ŋ ŋ ðŋŋ+/ ŋ- ŋ0 3
31 Ŋ./(-(¢-
BW ‘d_YW dejW Z_iYehZWdj[ bW fkie bW YWdY_bb[h Wb[cWdW" 7d# ][bW C[ha[b" gk_[d WĂ’ hcÂŒ gk[ [i Æ\kdZWc[djWbc[dj[ [iYƒfj_YWÇ ieXh[ kdW _dj[hl[dY_ÂŒd c_b_jWh [d B_X_W [d [ij[ cec[dje$
+ !* - *
$-,
-!1
'- % / ! , -
!+* ,
' & !#$ * & !&1 &
'&,*'$ '+ ('* 6
- *2 + '('+!,'* + , '+ ('* %!$! ! &'+ - *& % &, $ + + + 7* +
& +! & /
!*,
* + &-
, Ä–ĹŠ !#11 -".ĹŠ #+ĹŠ!#1!.
, *& 1 ' *-#
" !1
BWi \k[hpWi Z[b Yehed[b CkWcWh =WZWĂ’ i[]k‡Wd WlWdpWdZe Wo[h ^WY_W [b [ij[ jhWi ^WX[h h[Yed# gk_ijWZe [b fk[hje f[jheb[he Z[ HWi BWdk\" c_[djhWi bei Z_h_][d# j[i [khef[ei f_Z_[hed Wb b‡Z[h b_# X_e gk[ Z_c_jW Æi_d Z[cehWÇ$ ÆBei Z_h_][dj[i WYjkWb[i Z[ B_X_W Z[X[d WXWdZedWh [b feZ[h i_d Z[cehWÇ" Z[YbWhÂŒ [b fh[i_Z[d# j[ Z[ bW K;" >[hcWd LWd Hec# fko" Wb jƒhc_de Z[ kdW h[kd_ÂŒd [njhWehZ_dWh_W [d 8hki[bWi$ O [i gk[ fWhW bei Z_h_][dj[i [khef[ei" [b 9edi[`e DWY_edWb Z[ JhWdi_Y_ÂŒd 9DJ gk[ ^W Yh[WZe bW efei_Y_ÂŒd b_X_W [i kd _dj[hbeYk# jeh feb‡j_Ye Æb[]‡j_ceÇ$ Bei [khef[ei ^Wd Z[Y_Ze [ijkZ_Wh ÆjeZWi bWi efY_ed[iÇ fei_Xb[i fWhW Æfhej[][h W bW fe# XbWY_ÂŒd Y_l_bÇ" W YedZ_Y_ÂŒd Z[ gk[ [n_ijW kdW XWi[ `kh‡Z_YW ÆYbWhWÇ o kd h[ifWbZe Z[ bWi dWY_ed[i |hW# X[i l[Y_dWi$
;b fh[i_Z[dj[ Z[ bW K; ikXhW# Jh‡feb_ W fh_dY_f_ei Z[ bW i[cWdW oÂŒ gk[ B_X_W [ij| Wb ÆXehZ[ Z[ bW fhÂŒn_cW fWhW jhWdic_j_h bW fh[# ]k[hhW Y_l_bÇ o YedZ[dÂŒ" [d dec# eYkfWY_ÂŒd _dj[hdWY_edWb" _dZ_YÂŒ Xh[ Z[ bei (- fW‡i[i Z[ bW Kd_ÂŒd [b i[Yh[jWh_e ][d[hWb Z[ bW eh]W# ;khef[W" bW l_eb[dY_W YedjhW bei d_pWY_ÂŒd 8Wd A_#ceed$ Y_l_b[i$ ;d ;ijWZei Kd_Zei" " ÄƒĹŠĹŠ "5(#13# bW `[\W Z[ bW Z_fbecWY_W ;d Jh‡feb_" [b Yehe# >_bbWho 9b_djed Wdkd# d[b =WZWĂ’ Wc[dWpÂŒ W Y_ÂŒ gk[ ik fW‡i fh[i[d# ;khefW Yed Z[`Wh Z[ jWh| [b '+ Z[ cWhpe [d h[ifWbZWh bW bkY^W Wd# ĹŠ bW EJ7D kd fbWd fWhW j_j[hheh_ijW _dj[hdWY_e# #2! / 1.-ĹŠ"#ĹŠ ( ( ĹŠ [ijWXb[Y[h kdW [l[d# dWb o bW bkY^W YedjhW bW ' !( ĹŠ+.2ĹŠ/ ~2#2ĹŠ5#!(Äą -.2ĔŊ2#%ĂŒ-ĹŠ+ ĹŠ Ä“ jkWb pedW Z[ [nYbki_ÂŒd c_]hWY_ÂŒd YbWdZ[ij_dW$ Wƒh[W$ I_ ;khefW Æ_]dehW BW K;" bW B_]W Ă›hW# [b fWf[b WYj_le Z[ B_X_W X[ o bW Kd_ÂŒd 7\h_YWdW lWd W [d bW bkY^W YedjhW bW c_]hWY_ÂŒd Y[b[XhWh kdW YkcXh[ jh_fWhj_jW $$$ [d [b dehj[ Z[ Ă›\h_YWÇ" B_X_W Æ[d bWi fhÂŒn_cWi i[cWdWiÇ fWhW i[ l[h| eXb_]WZW W Æh[j_hWh iki WdWb_pWh bW Yh_i_i b_X_W" WdkdY_ÂŒ [b [i\k[hpei [d bW bkY^W YedjhW [b fh[i_Z[dj[ \hWdYƒi" D_YebWi IWh# j[hheh_ice o YWcX_Wh jejWbc[dj[ aepo$ ik feb‡j_YW YedjhW 7b GW_ZWÇ" WĂ’ h# ;b dk[le [c_iWh_e Z[ DWY_e# cÂŒ =WZWĂ’ $ d[i Kd_ZWi fWhW B_X_W" [b `eh# ;d [b j[hh[de" bWi \k[hpWi Z[b ZWde 7XZkb ?bW^ @Wj_X" l_W`Wh| W hƒ]_c[d bWdpWhed Zei WjWgk[i
ĉĎćēćććŊ
Ĺ—ĹŠĹŠ
¥ Ŋ ĔŊŊ Ŋě
+ĹŠ!.1.-#+ĹŠ+( (.ĹŠ ,#- 9 ĹŠ ĹŠ 41./ ĹŠ !.-ĹŠ1#3(1 12#ĹŠ"#ĹŠ+ ĹŠ +( -9 ĹŠ!.-31 ĹŠ#+ĹŠ 3#11.1(2,.Ä“
ēŊ (,/ 3(9 -3#2ĹŠ"#ĹŠ " ÄƒĹŠÄ”ĹŠ 2#ĹŠ!.-!#-31 1.-ĹŠ 8#1ĹŠ ĹŠ24ĹŠ$ 5.1ĹŠ#-ĹŠ 6(8 ĔŊ4-.2ĹŠÄˆÄ‡Ä‡ĹŠ*(+¢,#31.2ĹŠ +ĹŠ.#23#ĹŠ "#ĹŠ 1~/.+(ēŊ
+ĹŠ/1#2("#-3#ĹŠ"#ĹŠ 23 ".2ĹŠ -(".2ĔŊ 1 !*ĹŠ , ĔŊ "5(13(¢Ŋ 8#1ĹŠ04#ĹŠ#+ĹŠ ,4-".ĹŠ#23;ĹŠ!#11 -".ĹŠ#+ĹŠ!#1!.ĹŠ2. 1#ĹŠ 4 , 1ĹŠ +ĹŠ " ÄƒĹŠÄ”ĹŠ/#1.ĹŠ ",(3(¢Ŋ 24ĹŠ/1#.!4/ !(¢-ĹŠ/.1ĹŠ+ ĹŠ/.2( (+(" "ĹŠ "#ĹŠ04#ĹŠ#+ĹŠ+~"#1ĹŠ+( (.ĹŠ"#2 1 3#ĹŠ+.2ĹŠ /+ -#2ĹŠ"#ĹŠ+.2ĹŠ1# #+"#2ĹŠ04#ĹŠ04(#1#-ĹŠ #7/4+2 1+.ĹŠ"#+ĹŠ/."#1Ä“ , ĹŠ -4-!(¢Ŋ04#ĹŠ"#2(%- 1;ĹŠ ĹŠ 4-ĹŠ1#/1#2#-3 -3#ĹŠ -3#ĹŠ+ ĹŠ./.2(!(¢-ĹŠ +( ( ĔŊ!48 ĹŠ("#-3(" "ĹŠ-.ĹŠ$4#ĹŠ1#5#+ " Ä“ +ĹŠ 1#2("#-3#ĹŠ"#$#-"(¢Ŋ242ĹŠ#2Äą $4#19.2ĹŠ/ 1 ĹŠ"#11.! 1ĹŠ ĹŠ " ÄƒĹŠĹŠ -3#ĹŠ + 2ĹŠ!1~3(! 2ĹŠ/.1ĹŠ+ ĹŠ+#-3 ĹŠ#ĹŠ(-24ÄƒĹŠ!(#-3#ĹŠ 1#2/4#23 ĹŠ"#ĹŠ 23 ".2ĹŠ -(".2ĔŊ8ĹŠ %1#%¢Ŋ04#ĹŠ#23 ĹŠ2.-"# -".ĹŠ #+ĹŠ /.8.ĹŠ"#ĹŠ- !(.-#2ĹŠ;1 #2ĹŠ8ĹŠ $1(! - 2ĹŠ/ 1 ĹŠ(,/.-#1ĹŠ4- ĹŠ9.- ĹŠ"#ĹŠ #7!+42(¢-ĹŠ _1# ĹŠ!.-ĹŠ+ 2ĹŠ/.3#-!( 2ĹŠ 1#%(.- +#2Ä“
Wƒh[ei [d [b [ij[ Z[ HWi BWdk\" YedjhW kd fk[ije Z[ Yedjheb Z[ bei _dikh][dj[i o kdW h[Ă’ d[h‡W$ HWi BWdk\" kdW Y_kZWZ f[jhe# b[hW [ijhWjƒ]_YW" gk[ ZkhWdj[ kdW i[cWdW i[ Yedl_hj_ÂŒ [d bW XWi[ WlWdpWZW Z[ bei h[X[bZ[i [d [b eh_[dj[ b_X_e" \k[ XbWdYe Z[ dk# c[heiei XecXWhZ[ei Wo[h gk[ eXb_]Whed W bei h[X[bZ[i W ^k_h$ Bei _dj[diei XecXWhZ[ei ieXh[ HWi BWdk\ ^Wd \h[dWZe [b WlWdY[ Z[ bei h[X[bZ[i gk[ iW# b_[hed Z[ 8[d]Wi_ W bW Yedgk_ijW gk[ bW i_jkWY_ÂŒd [i ÆYWjWijhÂŒĂ’ YWÇ Z[ bWi Y_kZWZ[i Yeij[hWi ^WijW [d bW Y_kZWZ o gk[ ^Wo Æck[hjei Jh‡feb_$ feh jeZei bei bk]Wh[iÇ$ ;d ejhWi fWhj[i Z[b fW‡i" bei h[X[bZ[i i_]k[d YedjhebWdZe .-ĹŠ#+ĹŠ!.-31.+ JWcX_ƒd bWi \k[hpWi ]kX[hdW# C_ihWjW '+& ac Wb [ij[ Z[ Jh‡fe# c[djWb[i ^Wd jecWZe [b Yed# b_ o lWh_Wi Y_kZWZ[i Z[b dehe[ij[" jheb Z[ PWk_oW" ^WijW [djedY[i [d fWhj_YkbWh [d bW h[]_ÂŒd ced# ejhe XWij_ÂŒd Z[ bei ikXb[lWZei jW‹eiW Z[ @WXWb 7b =WhX_" i[]‘d [d [b eYY_Z[dj[" W bWi fk[hjWi Z[ j[ij_]ei$ ;d 8[d]Wi_" i[Z[ Z[b 9DJ" Jh‡feb_$ I[]‘d ieYehh_ijWi [d bW \hed# c|i Z[ '&$&&& f[hiedWi i[ Yed# j[hW Yed J‘d[p" kd ^ecXh[ bb[# ]h[]Whed W c[Z_e Z‡W fWhW h[YbW# ]WZe Z[ PWk_oW [d bW deY^[ YedjÂŒ cWh bW Z_c_i_ÂŒd Z[ =WZWĂ’ $
ĉ
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
6-ŋ ŋ'#&ŋ'/ ,.)-ŋ ēŊ +Ŋ324- ,(Ŋ04#Ŋ++#%¢Ŋ31 2Ŋ#+Ŋ3#11#,.3.Ŋ 11 231¢Ŋ3.".Ŋ Ŋ24Ŋ/ 2.ēŊ 2Ŋ/_1"(" 2Ŋ2.-Ŋ(-! +!4+ +#2ē
+1#"#".1Ŋ"#Ŋ!(#-Ŋ,(+Ŋ'#1(".2Ŋ8Ŋ4- Ŋ!(Ĺ $1 Ŋ(-"#2!1(/3( +#Ŋ"#Ŋ"#2 / 1#!(".2Ŋ/.1Ŋ #+Ŋ3#11#,.3.Ŋ8ŊŊ324- ,(Ŋ#-Ŋ /¢-ē ¥ Ŋ ŊIJŊ Ĺ Ŋě @W#
fÂŒd ik\h_ÂŒ Wo[h [b f[eh j[hh[# ceje `Wc|i h[]_ijhWZe [d [b WhY^_f_ƒbW]e" Z[ cW]d_jkZ ."/" i[]k_Ze Z[ fej[dj[i hƒfb_YWi o Z[ kd jikdWc_ Z[ '& c[jhei gk[ Z[`ÂŒ c_b[i Z[ ck[hjei o Z[iWfWh[Y_Zei o Z[i[dYWZ[dW# hed Wb[hjWi Z[ cWh[ceje [d bei fW‡i[i Z[b FWY‡ÒYe$ Bei ^[h_Zei fWiWd Z[ '&&$&&&" Z[ WYk[hZe Yed bei fh_c[hei h[fehj[i$ >WijW [b Y_[hh[ Z[ [ijW [Z_# Y_ÂŒd" bWi dej_Y_Wi Z[ Z[iWijh[i Z[ cW]d_jkZ[i _dYedY[X_Xb[i bb[]WXWd i_d fWhWh$ :[ (&& W )&& YWZ|l[h[i Z[ f[hiedWi gk[ fheXWXb[c[d# j[ ckh_[hed W^e]WZWi feh [b jikdWc_ WfWh[Y_[hed [d bW Yei# jW Z[ bW Y_kZWZ Z[ I[dZW_" Z[ bW fh[\[YjkhW Z[ C_oW]_$ ;d bW h[]_ÂŒd Z[ <kaki^_cW" kd Z_gk[ i[ hecf_ÂŒ o [b W]kW b_X[hWZW WhhWiÂŒ l_l_[dZWi$ :ei jh[d[i" Ykoe d‘c[he Z[ fWiW`[# hei i[ Z[iYedeY[" \k[hed ZWZei feh Z[iWfWh[Y_Zei" [d bW pedW
Z[ I[dZW_ o [d bW fh[\[YjkhW Z[ ?mWj[$ JWcX_ƒd [d I[dZW_" bWi Wkjeh_ZWZ[i _dZ_YWhed gk[ kd XWhYe \k[ WhhWijhWZe feh [b jikdWc_" i_d ejhWi fh[Y_i_ed[i$ KdW ]hWd [nfbei_ÂŒd i[ fheZk`e [d kd Yecfb[`e f[jhegk‡c_Ye Z[ [iW Y_kZWZ$ ¢,.ĹŠ#,/#9¢
;b i_ice i[ h[]_ijhŒ W bWi '*0*, beYWb[i (*0*, ^ehW Z[ ;YkW# Zeh " W (*"* ac Z[ fhe\kdZ_ZWZ o W kdW Y[dj[dW Z[ a_bŒc[jhei Z[ bWi YeijWi Z[ bW fh[\[YjkhW Z[ C_oW]_ o W ).& ac Wb dehj[ Z[ Jea_e" i[]‘d ZWjei Z[b ?dij_jkje Z[ =[e\‡i_YW Z[ ;ijWZei Kd_Zei KI=I $ <k[ i[]k_Ze feh kdWi *& hƒ# fb_YWi" kdW Z[ [bbWi Z[ cW]d_# jkZ -"'$ BWi Wkjeh_ZWZ[i Wi[]khWhed gk[ de ^kXe d_d]‘d [iYWf[ hWZ_WYj_le [d bWi Y[djhWb[i dk# Yb[Wh[i" Z_i[‹WZWi fWhW Z[`Wh Z[ \kdY_edWh Wkjec|j_YWc[dj[ [d YWie Z[ j[cXbeh[i [d kdW Z[ bWi pedWi Yed cWoeh WYj_l_ZWZ
j[b‘h_YW Z[b fbWd[jW$ F[i[ W jeZe" i[ ehZ[dÂŒ bW [lW# YkWY_ÂŒd Z[ kdWi ($&&& f[hie# dWi gk[ l_l[d W fhen_c_ZWZ Z[ kdW Y[djhWb Z[ <kaki^_cW" Wb ikh Z[ I[dZW_$ 84" ĹŠ8ĹŠ +#13 2
;b =eX_[hde f_Z_ÂŒ [b Wkn_b_e Z[ bWi \k[hpWi [ijWZekd_Z[di[i [i# jWY_edWZWi [d [b WhY^_f_ƒbW]e fWhW fWb_Wh bei [\[Yjei Z[b i_i# ce o [b jikdWc_$ ;b fh[i_Z[dj[ [ijWZekdZ_[d# i[" 8WhWYa EXWcW" WdkdY_ÂŒ gk[ kd fehjWWl_ed[i i[ Z_h_]‡W W bW h[]_ÂŒd fWhW fh[ijWh Wi_ij[dY_W$ ;b i_ice gk[ ik\h_ÂŒ @WfÂŒd [i Wb]e Æi_cfb[c[dj[ Z[i]WhhW# ZehÇ" WĂ’hcÂŒ$ BW cWoeh‡W Z[ bei fW‡i[i Z[b FWY‡\_Ye bWdpWhed Wb[hjWi Z[ jikdWc_" Wkdgk[ [d 7i_W iÂŒbe i[ h[fehjWhed ^WijW W^ehW eb[W# `[i c[deh[i$ ;d 7cƒh_YW BWj_dW" bWi fh_# c[hWi ebWi bb[]Whed W bW YeijW Z[ ;di[dWZW" [d [b dehe[ij[ Z[ Cƒn_Ye" Yed kdW WbjkhW Z[ c[# Z_e c[jhe$ BW cWh[W ]_]Wdj[ i[ ^Wh| i[dj_h W be bWh]e Z[ jeZe [b Yed# j_d[dj[" ^WijW bb[]Wh W bWi &,0&- =CJ &'0&- W$c$ Z[ ;YkWZeh Z[ [ij[ i|XWZe W Fk[hje M_bb_W#
ci" [d [b [njh[ce ikh Z[ 9^_b[" YWkY[ Z[b h‡e DWjeh_ o Z[ijhk# i[]‘d bWi fh[l_i_ed[i$ o[dZe YWcfei [d bW pedW Z[ I[dZW_$
+ĹŠ! .2
;d Jea_e" bei [Z_Ă’Y_ei j[cXbW# hed ZkhWdj[ Zei c_dkjei Z[i# fkƒi Z[b i_ice o bW cWoeh‡W Z[ bei ^WX_jWdj[i i[ fh[Y_f_jWhed W bWi YWbb[i" c_[djhWi i[ Z[i# [dYWZ[dWXWd kdW Z[Y[dW Z[ _dY[dZ_ei$ Kd ]_]Wdj[iYe _dY[dZ_e i[ fheZk`e [d kdW h[Ă’d[h‡W Z[ bW Y_kZWZ Z[ ?_Y^_^WhW" [d bW h[# ]_ÂŒd Z[ bW YWf_jWb$ C_bbed[i Z[ f[hiedWi i[ [dYedjhWXWd Wb YW[h bW deY^[ i_d feZ[h h[]h[# iWh W iki ^e]Wh[i W YWkiW Z[ bW _dj[hhkfY_ÂŒd Z[b i_ij[cW Z[ jhWdifehj[ ikXj[hh|d[e$ BWi Wkjeh_ZWZ[i _dijWhed feh WbjWleY[i W bei [cfb[WZei W Zehc_h Y[hYW Z[ iki eĂ’Y_dWi o bei ^ej[b[i Z[ bW h[]_ÂŒd fhedje i[ bb[dWhed$ ?c|][d[i j[b[l_i_lWi YWf# jWZWi Z[iZ[ kd ^[b_YÂŒfj[he ceijhWhed Xkgk[i Z[ YWh]W" WkjecÂŒl_b[i o jed[bWZWi Z[ cW# j[h_Wb[i Z[ jeZe j_fe WhhWijhW# Zei feh kdW ]_]Wdj[iYW cWh[W Z[ W]kW fWhZkiYW [ijh[bb|dZei[ YedjhW bWi YeijWi$ JWcX_ƒd ceijhWhed jehh[d# j[i Z[ beZe Z[iXehZWdZe [b
Ä?ćŊ1_/+(! 2
KdWi ,& hƒfb_YWi Z[b j[hh[# ceje i[ i_dj_[hed ZkhWdj[ [b h[ije Z[b Z‡W [d @WfÂŒd" i[]‘d bW 7][dY_W C[j[ehebÂŒ]_YW d_fedW$ BW _dj[di_ZWZ Z[ bWi hƒfb_YWi ^W eiY_bWZe [djh[ [b d_l[b ) o [b + [d bW [iYWbW `Wfed[iW" Yed kd c|n_ce Z[ - #[b Z[b Z[lWijWZeh j[hh[ceje# o gk[ i[ Y[djhÂŒ c|i [d bWi pedWi W\[YjWZWi gk[ [d bW _dj[di_ZWZ Z[b j[cXbeh$ +ĹŠÄĽ (-341¢-ĹŠ"#ĹŠ 4#%.ÄŚ
@WfÂŒd i[ ^WbbW [d [b bbWcWZe Æ9_djkhÂŒd Z[ <k[]e Z[b FWY‡# \_YeÇ" kdW pedW Z[ WYj_l_ZWZ lebY|d_YW ieXh[ fbWYWi Z[ bW Yehj[pW j[hh[ijh[ gk[ i[ ^kd# Z[d W ]hWd l[beY_ZWZ ][ebÂŒ]_YW lWh_ei Y[dj‡c[jhei feh W‹e [d ejhWi fbWYWi" kd \[dÂŒc[de gk[ WYkckbW [dehc[i j[di_ed[i gk[ Z[X[d b_X[hWhi[ [d \ehcW Z[ i_icei$ Jea_e [ij| i_jkWZW [d kde Z[ bei fkdjei c|i f[b_# ]heiei Z[ [i[ Y_djkhÂŒd" ieXh[ bW _dj[hi[YY_ÂŒd Z[ jh[i fbWYWi bW ;kheWi_|j_YW" bW Z[b FWY‡ÒYe o bW Z[b CWh Z[ <_b_f_dWi $
!'" "'9, #$* 0'0+- '0* -,0&2
" " !
#$* 0'0+#$ + %,'12# %/ #-0
$,# 5
5)20&'+
&
7
&
8
&
0* 0 *-+9, '('
4' &
,#-,$0'
2 3 $* ,#
(23.1(
1(.2ũ2(2,.2 ũ +ũ 1 -ũ3#11#,.3.ũ"#ũ -3.ũĸ#-ũ+ ũ(2+ ũ ŗ) /.-#2 ũ"#ũ -2'4ĹĔũ#-ũĈĒĉĊĔũ"#)¢ũ4-.2ũ ĈČćēćććũ,4#13.2Ĕũ%1 -ũ/ 13#ũ"#ũ#++.2ũ #-ũ+.2ũ(-!#-"(.2ũ04#ũ2#ũ"#2 3 1.-ũ31 2ũ#+ũ 3#, +.1ēũ
ũ ũ,(2, ũ1#%(¢-ũ' ~ ũ2(".ũ%.+/# " ũ ŗ/.1ũ4-ũ$4#13#ũ2(2,.ũ#-ũĈđĎĎēũ -ũĈĒĒĎĔũ
4-ũ3#11#,.3.ũ, 3¢ũ ũďēČććũ/#12.- 2ũ#-ũ . #ē
ēũ -ũ +%4-.2ũ+4% 1#2Ĕũ#+ũ324- ,(ũ'(9.ũ04#ũ+ 2ũ %4 2ũ2#ũ "#-31 1 -ũ' 23 ũĎũũ*(+¢,#31.2ũ#-ũ#+ũ(-3#1(.1ēũ
ēũ ũ3(#11 ũ2#ũ 1(¢ũ#-ũ+ 2ũ /1(-!(/ +#2ũ!(4" "#2ũ) /.-#2 2ēũ
ēũ , %#-ũ"#ũ4- ũ$4#13#ũ#7/+.2(¢-ũ#ũ(-!#-"(.ũ4- 2ũ'.1 2ũ"#2/4_2ũ"#+ũ2(2,.ē
3(-. ,_1(!
.9,
(34 !(¢-ũ
6
&
-)5
&
Ċ
02, +' ./-%/$0'9, $01'+ #
&
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. Čŏ
ēũ (3 -3#2ũ"#ũ4- ũ9.- ũ !.23#1 ũ) /.-#2 ũ. 2#15 -ũ+.2ũ" .2ũ "#+ũ324- ,(ēũ
~" ũ 412;3(+ ŗũũ
+ũ2(2,.ũ/1.5.!¢ũ4- ũ! ~" ũ"#ũ+ ũ .+2 ũ"#ũ .*(.ũĸıĈĔĐĉŘĹũ8ũ"#/1#!(¢ũ + ũ!.3(9 !(¢-ũ"#+ũ8#-ũ$1#-3#ũ +ũ"¢+ 1ũ ũ24ũ,#-.1ũ-(5#+ũ#-ũ".2ũ2#, - 2ũ8ũ ,#"( ũĸđĊĔĊćũ8#-#2ũ/.1ũ"¢+ 1Ĺē
2ũ !!(.-#2ũ"#ũ+ 2ũ!.,/ ~ 2ũ "#ũ2#%41.2ũ8ũ"#ũ+ 2ũ1# 2#%41 ".1 2ũ $4#1.-ũ+ 2ũ,;2ũ $#!3 " 2ēũ #%Ì-ũ
.1% -ũ 9#-.5#Ĕũ#+ũ!.23#ũ 5(-!4+ ".ũ +ũ2(2,.ũ#-ũ /¢-ũ/."1~ ũ 2(34 12#ũ#-31#ũĈēćććũ8ũĉēćććũ,(++.ı -#2ũ"#ũ"¢+ 1#2ũ2.+ ,#-3#ũ/ 1 ũ+.2ũ 1# 2#%41 ".1#2ũ#41./#.2Ĕũ 4-04#ũ 2#ũ31 3 ũ"#ũ4- ũ#23(, !(¢-ũġ,48ũ /1#+(,(- 1Ģē
.2ũ/1#!(.2ũ"#+ũ/#31¢+#.ũ3 , (_-ũ ! ~ -Ĕũ"# (".ũ ũ04#ũ /¢-ũ#2ũ4-.ũ "#ũ+.2ũ/1(-!(/ +#2ũ!.-24,(".1#2ũ ,4-"( +#2ũ"#ũ!14".ē
+ũ3#11#,.3.ũ /4#"#ũ' #1ũ "#2/+ 9 ".ũ#+ũ #)#ũ"#ũ+ ũ (#11 ŗũũ +ũ"#5 23 ".1ũ3#11#,.3.ũ"#ũđĔĒũ %1 ".2ũ"#ũ, %-(34"ũ#-ũ+ ũ#2! + ũ"#ũ
(!'3#1ũ04#ũ2 !4"(¢ũ 8#1ũ ũ /¢-ũ /4#"#ũ' #1ũ"#2/+ 9 ".ũ! 2(ũĈćũ !#-3~,#31.2ũ#+ũ#)#ũ"#ũ1.3 !(¢-ũ"#ũ+ ũ (#11 Ĕũ2#%Ì-ũ4-ũ#234"(.ũ/1#+(,(- 1ũ "#+ũ -23(343.ũ !(.- +ũ"#ũ #.$~2(! ũ8ũ 4+! -.+.%~ ũ"#ũ 3 +( ũĸ Ĺē +ũ Ĕũ04#ũ"#2"#ũĈĒĒĒũ' ũ #234"( ".ũ+.2ũ-4,#1.2.2ũ$#-¢,#ı -.2ũ2~2,(!.2ũ1#%(231 ".2ũ#-ũ 3 +( Ĕũ !.,.ũ#+ũ"#5 23 ".1ũ3#11#,.3.ũ"#ũ + ũ1#%(¢-ũ"#ũ .2ũ 149.2ũ"#+ũďũ"#ũ 1(+ũ"#ũĉććĒĔũ#7/+(! ũ#-ũ4- ũ-.3 ũ 04#ũ#+ũ(,/ !3.ũ"#+ũ2#~2,.ũ"#ũ /¢-ũ 2. 1#ũ#+ũ#)#ũ"#ũ+ ũ (#11 ũ/4#"#ũ2#1ũ #+ũ2#%4-".ũ, 8.1ũ"#+ũ04#ũ2#ũ3(#-#ũ !.-23 -!( ē ġ +ũ(,/ !3.ũ"#ũ#23#ũ24!#2.ũ2. 1#ũ #+ũ#)#ũ"#ũ1.3 !(¢-ũ' ũ2(".ũ,4!'.ũ , 8.1ũ04#ũ#+ũ"#+ũ%1 -ũ3#11#,.3.ũ"#ũ 4, 31 ũ"#ũĉććČũ8ũ/1. +#,#-3#ũ #2ũ#+ũ2#%4-".ũ, 8.1Ĕũ2¢+.ũ/.1ũ"#31;2ũ "#+ũ3#11#,.3.ũ"#ũ '(+#ũ"#ũĈĒďćĢũĔũ 1#9 ũ#+ũ!.,4-(! ".ē
ēũ (+#2ũ"#ũ/#!#2ũ++#% -ũ ũ + 2ũ/+ 8 2ũ"#ũ ! /4+!.ũ#-ũ4-ũ$#-¢ı ,#-.ũ(-42(3 ".ũ31 2ũ#+ũ324- ,(ē _7(!.ēũ +ũ324- ,(ũ04#ũ2#ũ1#%(231¢ũ#-ũ ı /¢-ũ31 2ũ4-ũ3#11#,.3.ũ"#ũđĔĒũ%1 ".2ũ"#ũ+ ũ #2! + ũ (!'3#1ũ/1."4).ũ2.+ ,#-3#ũ.+ 2ũ"#ũ Đćũ!#-3~,#31.2ũ#-ũ+ 2ũ!.23 2ũ,#7(! - 2Ĕũ (-$.1,¢ũ#+ũ/1#2("#-3#ũ"#ũ _7(!.Ĕũ #+(/#ũ +"#1¢-ē +ũ -" 3 1(.ũ2# +¢ũ04#ũ+ ũ/1(,#1 ũ8ũ+ 2#%4-" ũ.+ ũ04#ũ++#% 1.-ũ ũ _7(!.ũ/.1ũ+ 2ũ !.23 2ũ"#ũ ) ũ +($.1-( Ĕũ#-ũ#+ũ-.1.#23#ũ "#+ũ/ ~2Ĕũ8ũ24ũ3 , .ũġ-.ũ1# 2¢ũ#+ũ-(5#+ũ"#ũ , 1# ũ +3 Ģē '(+#ēũ +ũ . (#1-.ũ!'(+#-.ũ.1"#-¢ũ+ ũ #5 !4 !(¢-ũ/1#5#-3(5 ũ"#ũ+ 2ũ;1# 2ũ(-4-"ı +#2ũ#-ũ+ 2ũ9.- 2ũ!.23#1 2ũ"#ũ3.".ũ#+ũ/ ~2ũ 8ũ#+#5¢ũ"#ũ +#13 ũ/1#5#-3(5 ũ ũ + 1, ũ#+ 5(2.ũ -3#ũ4-ũ#5#-34 +ũ324- ,(ũ#-ũ+ ũ 2+ ũ "#ũ 2!4 Ĕũ#-!+ 5 " ũ#-ũ#+ũ !~ă!.Ĕũ ũ4-.2ũ ĊēĎććũ*(+¢,#31.2ũ"#+ũ3#11(3.1(.ũ!.-3(-#-3 +ē
2ũ;1# 2ũ"#ũ +#13 ũ$4#1.-ũ"#2"#ũ 1(! Ĕũ #-ũ+ ũ$1.-3#1 ũ!.-ũ #1ÌĔũ' 23 ũ#+ũ3#11(3.1(.ũ -3;13(!.Ĕũ!.-ũ+ 2ũ#7!#/!(.-#2ũ"#ũ 4#13.ũ .-33Ĕũ 4#13.ũ (++( ,2ũ8ũ 4-3 ũ 1#- 2ē 4 3#, + ēũ 43.1(" "#2ũ"#ũ 4 3#, + ũ 2. 1#5.+ 1.-ũ+ 2ũ!.23 2ũ"#+ũ !~ă!.Ĕũ ũ + 2ũ04#ũ, -3(#-#-ũ' 23 ũ#23#ũ2; ".ũ#-ũ +#13 ũ/1#5#-3(5 Ĕũ/#2#ũ ũ04#ũ"#2! 13 1.-ũ 04#ũ#+ũ/ ~2ũ$4#1 ũ $#!3 ".ũ/.1ũ+ 2ũ.+ 2ũ"#+ũ 324- ,(ē .+., ( ēũ 2ũ 43.1(" "#2ũ!.+., ( - 2ũ #,(3(#1.-ũ4- ũ +#13 ũ"#ũ324- ,(ũ/ 1 ũ + ũ!.23 ũ/ !~ă! Ĕũ 4-04#ũ2(-ũ.1"#-ũ"#ũ #5 !4 !(¢-ē
.2ũ,;2ũ(-3#-2.2
#11#,.3.2ũ8ũ, 1#,.3.2 .1ũ+.ũ,#-.2ũĈćũ2(2,.2ũ"#ũ%1 -ũ, %-(34"ũ 2#ũ' -ũ1#%(231 ".ũ#-ũ#+ũ,4-".ũ#-ũ+.2ũ Ì+3(,.2ũďũ .2ē
ŗũĈĈũ"#ũ, 19.ũ"#ũĉćĈĈĖũ -ũ3#11#,.3.ũ"#ũ , %-(34"ũđĔĒũ$1#-3#ũ ũ+ ũ!.23 ũ-.1"#23#ũ "#ũ /¢-ũ"#2#-! "#- ũ4-ũ, 1#,.3.ũ/.1ũ #+ũ !~ă!.ē ũ !34 1#ũ"#ũũĉćĈćĖũ - ũ#14/!(¢-ũ ŗ5.+!;-(! ũ8ũ4-ũ, 1#,.3.ũ, 3 -ũ ũ,;2ũ"#ũ
Ďććũ/#12.- 2ũ#-ũ -".-#2( ē ũ ŗũ # 1#1.ũ"#ũĉćĈćĖũ -ũ2(2,.ũ"#ũ, %-(ı 34"ũđĔđũ2 !4"#ũ '(+#Ĕũ%#-#1 ũ4-ũ, 1#,.3.ũ 8ũ, 3 ũ ũĎĉČũ/#12.- 2ē ũ #/3(#, 1#ũ"#ũĉććĒĖũ -ũ3#11#,.3.ũ"#ũ ŗđĔćũ"#2#-! "#- ũ, 1#,.3.2ũ!.-ũ.+ 2ũ"#ũ
' 23 ũĈĉũ,#31.2ũ"#ũ +341 ũũ8ũ, 3 ũ ũĈĒČũ#-ũ #+ũ !~ă!.ũ 41ē ũ #/3(#, 1#ũ"#ũĉććĐĖũ -ũ3#, +.1ũ"#ũ ŗ, %-(34"ũĐĔđũ2 !4"#ũ+ ũ(2+ ũ"#ũ 4, 31 Ĕũ /1.5.! ũ +#13 2ũ1#%(.- +#2ũ"#ũ, 1#,.3.ũ8ũ " ũ5#(-3#- 2ũ"#ũ#"(ă!(.2ē
ŗũ #/3(#, 1#ũ"#ũĉććĐĖũ -ũ3#11#,.3.ũ ,#"(".ũ#-ũđĔČũ!#1! ũ"#ũ 4, 31 ũ/1.5.! ũ 4- ũ.+ ũ04#ũ2#ũ 3#ũ2. 1#ũ+ ũ!(4" "ũ!.2ı 3#1 ũ"#ũ " -%ēũ +ũ$#-¢,#-.ũ, 3 ũ ũ/.1ũ+.ũ ,#-.2ũĉĎũ/#12.- 2ũ8ũ'(#1#ũ ũ4- 2ũĎćē ũ 4+(.ũ"#ũĉććďĖũ -ũ3#, +.1ũ"#ũďĔĈũ/1.ı ŗ5.! ũ4-ũ, 1#,.3.ũ$1#-3#ũ ũ+ 2ũ!.23 2ũ241ũ
"#ũ 5 ũ8ũ"#) ũ/.1ũ+.ũ,#-.2ũďććũ,4#13.2ē ũ 19.ũ"#+ũĉććĎĖũ -ũ2(2,.ũ"#ũ, %-(34"ũ ŗđĔďũ#-ũ#+ũ-.13#ũ"#ũ 4, 31 ũ, 3 ũ ũ4- 2ũ ĈēĊććũ/#12.- 2ē
ũ (!(#, 1#ũ"#ũũĉććČĖũ -ũ, 1#,.3.ũ#-ũ ŗ#+ũ !_ -.ũ}-"(!.Ĕũ"#2#-! "#- ".ũ/.1ũ4-ũ 2(2,.ũ"#ũ, %-(34"ũĒĔćĔũ"#) ũ4-ũĉĊćēćććũ ,4#13.2ũ#-ũ4- ũ".!#- ũ"#ũ/ ~2#2ē
§ Ä Ä€
4 -".ĹŠ#+ĹŠ3#11.1ĹŠ #2ĹŠ"(5#13(". ĹŠ
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
7 Ĺ?Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?Ĺ?
2ĹŠ4-.ĹŠ"#ĹŠ+.2ĹŠ!¢,(!2ĹŠ"#ĹŠ!4+3.ĹŠ# 41./ ēŊ 4ĹŠ3#,;3(! ĹŠ' ĹŠ%#-#1 ". "# 3#2ĹŠ2.!(.+¢%(!.2Ä“ ĹŠ ĹŠÄ› FWhW [ijW eYWi_ÂŒd" [ij_cWZei b[Yjeh[i" ^WXbWh[cei Z[ kdW Z[ bWi ^_ijeh_[jWi c|i ][d_Wb[i Z[b del[de Whj[" :obWd :e] :: " Yh[WZW feh [b _jWb_Wde J_p_Wde IYbWl_ o gk[ \k[ fkXb_YW# ZW feh fh_c[hW l[p [d eYjkXh[ Z[ '/., [d bW [Z_jeh_Wb I[h]_e 8ed[bb_$ 7Z[c|i" [i kdW Z[ bWi ]hWdZ[i \Wleh_jWi Z[ gk_[d[i ^W# Y[cei [ijW i[YY_ÂŒd$ FWhW Y[djhWhdei [d [ij[ Ăˆ\k# c[jje d[heÉ YÂŒc_Y d[]he" jhW# ZkY_Ze Wb [ifW‹eb " ^Wh[cei kd Xh[l[ h[fWie W ik jhWcW bW gk[" feh Y_[hje" ^W jhW‡Ze lWh_Wi Z_i# Yki_ed[i o Z[XWj[i W d_l[b _dj[# b[YjkWb o WYWZƒc_Ye" o [d bWi gk[ ^W fWhj_Y_fWZe" feh [`[cfbe" [b \Wceie i[c_ÂŒbe]e o Yeckd_YÂŒ# be]e _jWb_Wde KcX[hje ;Ye$ 9WX[ Z[ijWYWh gk[ bW hWpÂŒd gk[ dei ^W cej_lWZe W ^WXbWh Z[ :: [i [b WdkdY_e Z[b [ijh[de Z[ bW WZWfjWY_ÂŒd Y_d[cWje]h|\_YW Z[ [ij[ YÂŒc_Y" gk[ [ij| fh[l_ije fWhW [ij[ (/ Z[ WXh_b [d ;ijWZei Kd_Zei" o Ykoe fhejW]ed_ijW [i 8hWdZed Hekj^" WYjeh gk[ [d# YWhdÂŒ [d (&&, W Ikf[hcWd" ejhe ‡Zebe Z[ bWi ^_ijeh_[jWi$
ēŊ .-!#/3.Ŋ"#Ŋ 13#Ŋ"#+Ŋ/#12.- )#Ŋ/ 1 Ŋ/1.,.!(.- 1Ŋ+ Ŋ/#+~!4+ ĔŊ 04#Ŋ2#Ŋ#231#- Ŋ#23#ŊĉĒŊ"#Ŋ 1(+ēŊ
Ä ĹŠ/.1ĹŠ04_ĹŠ 8+ -ĹŠ .%Ä&#x; ĹŠĹŠĹŠ ĹŠ'(23.1( ĹŠ"#ĹŠ24ĹŠ-., 1#ĹŠ3 , (_-ĹŠ#2ĹŠ(-3#1#2 -3#ĔŊ/4#2ĹŠ !+ 5(ĹŠ' ĹŠ2(".ĹŠ,48ĹŠ Ĺ—2#%4(".1ĹŠ"#+ĹŠ/.#3 ĹŠ 8+ -ĹŠ '., 2ēŊ ĹŠ#-ĹŠ!4 -3.ĹŠ ĹŠ .%ĔŊ/.1ĹŠ '~ĹŠ"(!#-ĹŠ04#ĹŠ+.2ĹŠ"#Äą
3#!3(5#2Ŋ2.-Ŋ4-.2Ŋ2 4#2.2Ŋĸ!.,.Ŋ +%4-.2Ŋ/#1(."(23 2Ŋ.Ŋļ2(! 1(.2Ŋ"#Ŋ3(-3 ČĚŊ8Ŋ/.1Ŋ #2.Ŋ+.Ŋ"#Ŋļ/#11.ČĔŊ/#1.Ŋ#-Ŋ1# +(" "ĔŊ/.1Ŋ#2 2Ŋ!.2 2Ŋ,(23#1(.2 2Ŋ"#Ŋ/.-#1Ŋ+ 2Ŋ!.2 2Ŋ +Ŋ1#5_2ĔŊ#-Ŋ#23#Ŋ! 2.Ŋ .%Ŋ#2Ŋ ."Ŋĸ (.2Ŋ#-Ŋ(-%+_2Ěē 1 Ŋ#-3#-"#1Ŋ,#).1Ŋ#23 Ŋ/ 13#ĔŊ+# Ŋ#+Ŋ3#1!#1Ŋ/4-3.Ŋ"#+Ŋ1#!4 "1.ē
3.2Ŋ(-3#1#2 -3#2 Ŋ Ŋ#2Ŋ4-Ŋ!¢,(!Ŋ /.8 ".Ŋ#-Ŋ+ Ŋ2.+#" "Ŋ ŗ"#+Ŋ/1.3 %.-(23 Ŋ04#Ŋ' !#Ŋ!¢,/+(!#2Ŋ"#Ŋ
242ĹŠ -" -9 2ĹŠ ĹŠ+.2ĹŠ+#!3.1#2ĹŠ#7/1#2 -".ĹŠ 242ĹŠ/#-2 ,(#-3.2ĹŠ!.,.ĹŠ2(ĹŠ' + 1 ĹŠ#-ĹŠ 5.9ĹŠ +3 Ä“ ĹŠ ĹŠ ĹŠ#2ĹŠ +%.ĹŠ,;2ĹŠ04#ĹŠ4- ĹŠ(-5(3 !(¢-ĹŠ ĹŠ Ĺ—1#Ä„ ĹŠ#7(.- 1Ä–ĹŠ#2ĹŠ4- ĹŠ!.,/4+2(¢-ĹŠ ĹŠ' !#1+.Ä“ ĹŠ ĹŠ ĹŠ/1#2#-3 ĹŠ4- ĹŠ%#-# +.%~ ĹŠ(-5#12 Ä–ĹŠ Ĺ—24ĹŠ.1(%#-ĹŠ2#ĹŠ5(-!4+ ĹŠ!.-ĹŠ+ ĹŠ-.!(¢-ĹŠ"#ĹŠ -3('_1.#Ä–ĹŠ#7 +!.'¢+(!.ĔŊ#7/.+(!~ ĹŠ8ĹŠ#2ĹŠ$~2(Äą ! ,#-3#ĹŠ54+-#1 +#ēŊ 4-ĹŠ!4 -".ĹŠ 24,#ĹŠ 1.+#2ĹŠ/1.3 %¢-(!.2ĹŠ"#ĹŠ!., 3#ĹŠ!.-31 ĹŠ #+ĹŠ, +ĔŊ+ ĹŠ/#2 "(++ ĔŊ3 -3.ĹŠ24ĹŠ(!.-.%1 $~ ĹŠ !.,.ĹŠ24ĹŠ/#1ÄƒĹŠ+ĹŠ/2(!.+¢%(!.ĹŠ+.ĹŠ +#) -ĹŠ"#+ĹŠ !+;2(!.ĹŠ'_1.#Ä“ ĹŠĹ—ĹŠ ĹŠ ĹŠ3 , (_-ĹŠ+#ĹŠ!.-.!#-ĹŠ!.,.ĹŠ#+ĹŠ "#3#!3(5#ĹŠ"#ĹŠ+ 2ĹŠ/#2 "(++ 2Ä“
ēŊ 1 -".-ĹŠ .43'ĹŠ /#12.-(ÄƒĹŠ! ĹŠ ĹŠ ĹŠ#-ĹŠ#+ĹŠ!(-#ēŊ
o c_[Zei Z[ bei i[h[i ^kcWdei$ 7gk‡ bei cedijhkei" feh [`[c# fbe" de ied [iei i[h[i Z[ Ă’ YY_ÂŒd ]hWjk_jW" i_de c[jW\ÂŒh_YWc[dj[ Wgk[bbei ^ecXh[i o ck`[h[i bb[# lWZei feh ik c_[Ze e ik eZ_e W Yec[j[h WYjei _cf‡ei$ Ejhei Z[ bei j[cWi gk[ dei fed[ [d [b jWf[j[ [ijW ^_ijeh_[jW _jWb_WdW WcX_[djWZW [d BedZh[i ied [b Wceh" [b eZ_e" bW ieb[ZWZ" bW _dYecfh[di_ÂŒd" bei fh[`k_Y_ei" bW _di[]kh_ZWZ o [iW WcX_Y_ÂŒd f[h# iedWb Z[ bei i[h[i ^kcWdei feh [nf[h_c[djWh YeiWi gk[ b[i iW# gk[d Z[ bW hkj_dW Z[ [ijei j_[c# fei ceZ[hdei$ ;i gk[ :: [i kdW ^_ijeh_[jW gk[ fed[ [d ik jhWcW jeZei [iei fheXb[cWi ceZ[hdei Z[b ^ec# Xh[ o ZedZ[ i[ c[pYbW bW YkbjkhW Yedj[cfeh|d[W Yed Yegk[j[ei W fheZkYjei Y_d[cWje]h|Ă’ Yei Ă’ b# c[i Yece Ăˆ8bWZ[ Hkdd[hÉ" Ăˆ:h|# YkbWÉ" Ăˆ;b h[]h[ie Z[ bei ck[hjei l_l_[dj[iÉ$$$ " c‘i_YW `Wpp" ^[Wlo c[jWb " Whj[ eXhW f_YjÂŒh_YWi Z[ F_YWiie" :Wb‡" CW]h_jj[$$$ " del[# bWi dei Wjh[l[cei W f[diWh gk[ i[ ^W _dif_hWZe ckY^e [d ;Z]Wh 7bbWd Fe[ " Z[ bei c_icei YÂŒc_Yi Ăˆ9k[djei Z[iZ[ bW 9h_fjWÉ$$$ o #3#!3(5#ĹŠ"#ĹŠ+.ĹŠ(-2¢+(3. ckY^e" ckY^e c|i$ :: [i kd [nfeb_Y‡W Z[ IYejbWdZ OWhZ" gk[ Z[`ÂŒ W [iW _dij_jkY_ÂŒd -ĹŠ!¢,(!ĹŠ24/#1+ 3(5. _d]b[iW fWhW Yedl[hj_hi[ [d Z[# 9h[[cei gk[ ikf[hbWj_le [i j[Yj_l[ fh_lWZe o eYkfWhi[ Z[ kd WZ`[j_le cko `kije fWhW YWiei fWhWdehcWb[i$ bW fhefk[ijW feh Z[c|i ;ij[ ^ecXh[ gk[ i_[cfh[ l_ij[ _dj[h[iWdj[ o cko _dj[# Z[ `[Wd" YWc_iW he`W o Y^Wgk[jW b_][dj[ gk[ dei Xh_d# d[]hW" Z[X[ [d\h[djWhi[ [d ik ZW IYbWl_" fk[i ik jhWXW`e W lWcf_hei" b_Y|djhe# YÂŒc_Y ^W ][d[hWZe fei" Xhk`Wi" pecX_i$$$ [ _dYbkie lWh_Wi Z_iYki_ed[i" W cedijhkei Z[ bW b_j[hWjkhW Yb|# ckY^Wi Z[ [bbWi [d [b i_YW" Yece <hWda[dij[_d" @[a_bb" i[dj_Ze ieY_ebÂŒ]_Ye" Ykb# @WYa [b Z[ijh_fWZeh kd YWie h[Wb jkhWb o Z[ Yeckd_YWY_ÂŒd o [b c_ice Z_WXbe$ ieY_Wb" l_ijWi Z[iZ[ bWi j[eh‡Wi o Iki YWiei ied fWhj_YkbWh[i ^[hhWc_[djWi YWj[Zh|j_YWi Yece o feh be h[]kbWh jhWXW`W [d bW bW i[c_ebe]‡W" feh [`[cfbe$ deY^[" fk[i :: jWcX_ƒd [i kd Kde Z[ bei Z[XWj[i gk[ i[ ^W cedijhke gk[ i[ eYkbjW [d bW f_[b ^[Y^e Wb h[if[Yje [i ieXh[ ik Z[ kd ^kcWde$ fhefk[ijW feiceZ[hdW$ 7gk‡" [b xb l_l[ [d 9hWl[d HeWZ -" [d j[nje Z_iYkhie ^WXbWdZe Yece BedZh[i" kd bk]Wh j[d[Xheie gk[ i[c_ÂŒbe]ei Yed\bko[ [d [i[ i[]‘d IYbWl_" [i kd ^ec[dW`[ Wb YebbW][ ZedZ[ _dj[hl_[d[d Wh# Y_d[WijW [ijWZekd_Z[di[ M[i cÂŒd_YWc[dj[ j[njei" Z_Xk`ei 9hWl[d" Yh[WZeh Z[ ĂˆBWi f[iW# o lWh_ei ]ƒd[hei Z[ bWi ^_i# Z_bbWi Z[ <h[ZZoÉ$ ;d [ij[ bk]Wh jeh_[jWi o Z[b Y_d[ " Yece be ^WX_jW [d kdW YWiW Ykoe j_cXh[ feb_Y_WYe" be Ăˆde_hÉ d[]he " be ik[dW _]kWb gk[ kd ]h_je Z[i]W# ]ÂŒj_Ye" bW Wl[djkhW" bW Ă’ YY_ÂŒd" [b hhWZeh Z[ kdW ck`[h [d f[b_]he$ ikif[die o [b j[hheh$ Âś7^ o i_ Z[ ZWjei Ykh_eiei Ejhe [b[c[dje _cfehjWdj[ [i ^WXbWcei" Z[X[cei c[dY_edWh jWcX_ƒd gk[ dei Z[`Wcei WhhWi# gk[ :: [ij| _dif_hWZe [d [b WYjeh jhWh W [b[c[djei h[jhe" gk[ i[ l[d Xh_j|d_Ye Hkf[hj ;l[h[jj$ [d bW ceZW" Y_[hjei Whj[\WYjei" bW c‘i_YW" f[he ieXh[ jeZe [d 7/+.1 ĹŠ5 1(.2ĹŠ3#, 2ĹŠĹŠĹŠ cedijhkei Z[b ckdZe Wdj_]ke" ;b c[diW`[ WZoWY[dj[ Z[ jeZWi Yece [b C_dejWkhe o [b c_ice bWi ^_ijeh_Wi" Wl[djkhWi o f[h# :_WXbe" Wgk‡ jhWjWZei [d \ehcW iedW`[i gk[ _dj[hl_[d[d [d [b feiceZ[hdW$ Wh]kc[dje Z[ ::" [d h[Wb_ZWZ Kd [`[cfbe Z[ :_WXbe" [d h[Ă“ [`Wd bWi fhef_Wi _dgk_[jkZ[i ::" [i bW f[hied_Ă’ YWY_ÂŒd Z[
[ij[ [d kd i[h Yehhkfjeh1 Wgk‡ [iWi Xhk`Wi gk[ lk[bWd ied jhW# jWZWi Yece ck`[h[i _cf‡Wi gk[ Ă„lWb]W bW h[ZkdZWdY_WĂ„ lk[bWd Yed WbkY_dÂŒ][dei Zhe]Wi $$$ o YeiWi Wi‡ feh [b [ij_be$ ;d Z[Ă’ d_j_lW o Z[ WYk[hZe W fWbWXhWi Z[ KcX[hje ;Ye" Wgk‡ ÆYedĂ“ ko[d kdW [iYh_jkhW Z[ i_]# d_Ă’ YWdj[i b‘Z_Yei [d kdW ieY_[# ZWZ Z[ i_]d_Ă’ YWZei _d[ijWXb[iÇ Yh[e gk[ [ije [dj[dZ[h|d kd feYe c|i bei Yeckd_YWZeh[i ie# Y_Wb[i" f[he Xk[de$$$ $ :: [i kd feYe Z[ Y_[dY_W Ă’ Y# Y_ÂŒd" jWcX_ƒd Z[ del[bW feb_Y_Wb$ ;i bW YecX_dWjeh_W Z[ jeZe [ije$ ;i Yece Z[Y_h gk[ [b dk[le ]ƒ# d[he b_j[hWh_e" i_d _Z[dj_Ă’ YWhi[ Yed d_d]kde Z[ iki fh[Y[Z[dj[i" bei bb[lW Wb b‡c_j[ W jeZei" lebY|d# Zebei [d kd ]_]Wdj[iYe fWij_Y^[ _c_jWY_ÂŒd $ ;d Ă’ d" ^WXbWh Z[ :: [i c[# j[hi[ [d kd j[hh[de cko h_Ye" _dj[h[iWdj[ o cko [djh[j[d_Ze$ ;ij[ YÂŒc_Y [i kd Xk[d [`[cfbe Z[ gk[ [b j[hheh fk[Z[ i[h Z_l[h# j_Ze$ 7Z[c|i" de iebe [ij| Z[Z_# YWZe W bei Ăˆ\h_a_iÉ$
Ä Ä
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
7 Ĺ?Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?Ĺ?
ĹŠ"ĂŒ.ĹŠ/ 1 ĹŠ -4#5.ĹŠ"(2!.ĹŠ
+ĹŠ! -3 43.1ĹŠ~3 +.Äą5#-#9.+ -.ĹŠ 1 -!.ĹŠ"#ĹŠ (3 ĹŠ/1#2#-3 1;ĹŠ#+ĹŠ /1¢7(,.ĹŠ"~ ĹŠÄˆÄŒĹŠÄĽ -ĹŠ2.+.ĹŠ3ĂŒÄŚÄ”ĹŠ#+ĹŠ /1(,#1ĹŠ2#-!(++.ĹŠ"#ĹŠ24ĹŠ/1¢7(,.ĹŠ ;+ 4,ĹŠÄĽ 1 -!.ĹŠ"#ĹŠ (3 ĹŠ#-ĹŠ/1(,#Äą 1 ĹŠÄƒĹŠ+ ČĔŊ#-ĹŠ#+ĹŠ04#ĹŠ! -3 ĹŠ ĹŠ"ĂŒ.ĹŠ!.-ĹŠ + ĹŠ! -3 -3#ĹŠ,#7(! - ĹŠ +#) -"1 ĹŠ 49,;-ēŊ +ĹŠ;+ 4,ĹŠ$.1, ĹŠ/ 13#ĹŠ "#ĹŠ4- ĹŠ2#1(#ĹŠ"#ĹŠ .-8ĹŠ 42(!ĹŠ#-ĹŠ+ ĹŠ 04#ĹŠ2#ĹŠ%1 -ĹŠ1#!(3 +#2ĹŠ~-3(,.2ĹŠ 8ĹŠ"#ĹŠ+ ĹŠ04#ĹŠ' -ĹŠ/ 13(!(/ ".ĹŠ+.2ĹŠ ,#7(! -.2ĹŠ (!#-3#ĹŠ #1-;-"#9ĹŠ8ĹŠ ' +~ ēŊ
ĹŠ ĹŠ
Ŋ3(#-#Ŋ-.5( ^ ŊěŊBW WYjh_p
c[n_YWdW Beh[dW L[b|igk[p h[l[bÂŒ gk[ [b W‘d [ifeie Z[ bW YWdjWdj[ o ZWcW Z[ bWi j[b[del[bWi" BkY[he" oW j_[d[ ejhW fWh[`W" kdW [cfh[iWh_W bbWcWZW Beh[dpW$ 7kdgk[ C_`Wh[i de ^W gk[h_Ze fhedkdY_Whi[ ieXh[ [b j[cW" [ijW dej_Y_W [ij| ZWdZe ckY^e Z[ gkƒ ^WXbWh [d bW fh[diW Z[ ik fW‡i$ ĹŠ
ĹŠ ĹŠ
(#-#ĹŠ".2ĹŠ2#, - 2ĹŠ / 1 ĹŠ#5(3 1ĹŠ!;1!#+ĹŠ
ĹŠ }
ŊĚŊ -Ŋ)4#9Ŋ"#!("(¢Ŋ #+Ŋ)4#5#2Ŋ" 1Ŋ".2Ŋ2#, - 2Ŋ,;2Ŋ Ŋ+ Ŋ !31(9Ŋ/ 1 Ŋ04#Ŋ++#%4#Ŋ Ŋ4-Ŋ !4#1".Ŋ 2. 1#Ŋ#+Ŋ24/4#23.Ŋ1. .Ŋ"#Ŋ4-Ŋ!.++ 1Ŋ #-Ŋ +($.1-( Ŋ!.-Ŋ+.2Ŋ"4# .2Ŋ"#Ŋ+ Ŋ ).8#1~ Ŋ8Ŋ#5(3#Ŋ 2~Ŋ5.+5#1Ŋ Ŋ(-%1#2 1Ŋ #-Ŋ/1(2(¢-ēŊ -Ŋ$# 1#1.ĔŊ .' -Ŋ2#Ŋ "#!+ 1¢Ŋ-.Ŋ!4+/ +#Ŋ"#+Ŋ'413.Ŋ"#Ŋ4-Ŋ !.++ 1Ŋ5 +.1 ".Ŋ#-ŊĉēĎććŊ"¢+ 1#2Ŋ #-Ŋ4- Ŋ).8#1~ Ŋ"#Ŋ #-(!#Ŋ # !'ĔŊ8Ŋ "#2"#Ŋ#-3.-!#2Ŋ+ 2Ŋ/ 13#2Ŋ-.Ŋ' -Ŋ 2(".Ŋ! / !#2Ŋ"#Ŋ +! -9 1Ŋ4-Ŋ !4#1Ĺ ".ĔŊ"#Ŋ, -#1 Ŋ04#Ŋ#+Ŋ, %(231 ".Ŋ' Ŋ ./3 ".Ŋ/.1Ŋ#73#-"#1Ŋ#+Ŋ/+ 9.Ŋ' 23 Ŋ #+Ŋ/1¢7(,.ŊĉĎŊ"#Ŋ, 19.ēŊ Ŋ
ÄĽ #3#ĹŠ+ ĹŠ/ 3 ÄŚ
Ŋ! -3 -3#Ŋ,#7(! - Ŋ! 42 Ŋ4- !.-31.5#12( Ŋ#-Ŋ 6(33#1Ŋ!.-Ŋ#+Ŋ324- ,(Ŋ #-Ŋ /¢-ēŊ $1#!(¢Ŋ"(2!4+/ 2ēŊ
ĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠ ĹŠ ĹŠ ĹŠ ĹŠÄ‰Ä‡ÄˆÄˆ
+% ĹŠ:+ 5 ĹŠ ĸ 4 8 2Äš -ŊĉććđŊ/ 13(!(/¢Ŋ#-ĹŠ#+ĹŠ!#13 Äą ,#-ĹŠ"#ĹŠ #(- ĹŠ"#ĹŠ 4 8 04(+ĹŠ8ĹŠ $4#ĹŠ"#2(%- " ĹŠ!.,.ĹŠ (11#(- ĔŊ "#,;2ĹŠ345.ĹŠ+ ĹŠ./.134-(" "ĹŠ "#ĹŠ31 ) 1ĹŠ#-ĹŠ+ ĹŠ+ .1ĹŠ2.!( +ēŊ .1ĹŠ#++.ĹŠ"#!("(¢Ŋ(-!412(.- 1ĹŠ#-ĹŠ #+ĹŠ (22ĹŠ !4 ".1ĹŠ8ĹŠ 2~ĹŠ2#%4(1ĹŠ !.-ĹŠ#+ĹŠ31 ).ĹŠ2.!( +ēŊ +% ĹŠ#2ĹŠ ÄƒĹŠ!(.- " ĹŠ +ĹŠ,."#+ )#ĹŠ8ĹŠ ĹŠ+ ĹŠ $.3.%1 $~ Ä“
.-.9! ĹŠ ĹŠ3." 2ĹŠ+ 2ĹŠ ! -"(" 3 2ĹŠ#-Ä– 666Ä“+ '.1 Ä“!.,Ä“#!
" "ĖŊĉĉŊ  .2 23 341 Ä–ĹŠÄˆÄ”Ä?ÄŠ #"(" 2Ä–ĹŠÄ’ÄŽÄąÄ?đĹĒĎ
ĔŊ ĹŠ ĹŠ Â&#x; ŊěŊ7 f[iWh
Z[ gk[ :kbY[ CWh‡W [i kdW Z[ bWi _djƒhfh[j[i c[n_YWdWi gk[ ]epW Z[ c|i YWh_‹e [d [b ckdZe" bW [n H8: c[j_ÂŒ bW fWjW Wb _dj[djWh ^WY[h kdW h_cW e be gk[ fWh[Y_[# hW i[h bW [ijhe\W Z[ kdW YWdY_ÂŒd W hW‡p Z[b jikdWc_ eYkhh_Ze bW deY^[ Z[b `k[l[i [d @WfÂŒd gk[ ^W Z[`WZe Y_[djei Z[ ck[hjei o c_b[i Z[ ^[h_Zei$ Æ9ece kd jikcWd_ [d `Wfed" fk[Z[ ^WY[h g jki ebWi c[ h[# lk[bgk[d [b cWbZ_je YehWped$$$Ç i_Y " [iYh_X_ÂŒ bW jWcX_ƒd WYjh_p Z[ (+ W‹ei [d ik Yk[djW Z[ Jm_j# j[h" i_[dZe Yh_j_YWZW jWcX_ƒd feh ik j[hh_Xb[ ehje]hW\‡W$ # !!(.-#2ĹŠ
7 :kbY[ CWh‡W b[ bbel_ÂŒ kd cWh Z[ Yh‡j_YWi o ^WijW bW YWb_Ă’ YWhed Z[ _di[di_Xb[$ JhWi ZWhi[ Yk[djW Z[ be _d\ehjkdWZe gk[ h[ikbjÂŒ ik
Yec[djWh_e" bW _djƒhfh[j[ Z[ ĂˆOW deÉ gk_ie [dc[dZWh ik [hheh o Wkdgk[ e\h[Y_ÂŒ Z_iYkbfWi" Z_`e gk[ Ægkƒ feZ‡W ^WY[hi[ fWhW gk[ [b ckdZe de jkl_[hW jhW][Z_WiÇ Yece bW Z[ @WfÂŒd$ ÆBe i_[dje ckY^e$$$ Iebe be Z[Y‡W feh [b [\[Yje cWh_feiW0 f[he [d bW h[Wb_ZWZ [if[he gk[ bb[]k[ bkp W `Wfed o gk[ jeZe c[`eh[ fhedje f[hZedÇ i_Y " [iYh_X_ÂŒ$ ÆE_]Wd g ^WY[d fWhW g de fWi[ [ijee55Yece [l_jWd bWi jhW`[Z_W55i c[ [dYWdjWh_W iWX[h fWhW ^WY[hbe"i[]khe iki cWbZ_# Y_ed[i WokZWd W `WfÂŒd$$$Ç i_Y $ 7b l[h gk[ iki i[]k_Zeh[i de gk[ZWhed Yed\ehc[i Yed bWi Z_i# YkbfWi o i[]k‡Wd Yh_j_Y|dZebW" bW Ăˆf[b_hhe`WÉ iWb_ÂŒ W bW Z[\[di_lW o bei bbWcÂŒ [nW][hWZei$ Æ9ece b[ ^WY[d fWhW b[[hc[ jeZW bW ][dj[ W bW gk[ b[ YW$$$ bW cWZ$$$ Qbei gk[ de c[ iefehjWdS
Ä #!4#1" +ĹŠÄĽ241(,(ÄŚÄ&#x; ĹŠĹŠ -ĹŠ+ ĹŠ3#+#-.5#+ ĹŠÄĽ # #+"#ČĔŊ"#ĹŠ Ĺ—".-"#ĹŠ2 +(¢Ŋ#+ĹŠ2#73#3.ĹŠ ĔŊ 4+!#ĹŠ
1~ ĹŠ#1 ĹŠ+ ĹŠ'() ĹŠ"#ĹŠ+ ĹŠ! -3 -3#ĹŠ (-#+ĹŠ .-"#ĔŊ04(#-ĹŠ#-ŊĉććĎŊ 3 , (_-ĹŠÄĽ,#3(¢Ŋ+ ĹŠ/ 3 ÄŚĹŠ!.-ĹŠ#23.ĹŠ"#ĹŠ +.2ĹŠ324- ,(2ēŊ ĹŠ#2ĹŠ04#ĹŠ#-ĹŠ 04#++ ĹŠ.! 2(¢-ĔŊ 4-ĹŠ324- ,(ĹŠ2 !4"(¢Ŋ+ 2ĹŠ!.23 2ĹŠ"#ĹŠ 4, 31 ĹŠ#-ĹŠ#+ĹŠ.!_ -.ĹŠ}-"(!.ĹŠ#+ŊĉÄ?ĹŠ"#ĹŠ "(!(#, 1#ĹŠ"#ĹŠÄ‰Ä‡Ä‡ÄŒĹŠ8ĹŠ! 42¢Ŋ,(+#2ĹŠ"#ĹŠ ,4#13.2ēŊ -ĹŠ#2#ĹŠ#-3.-!#2ĹŠ (-#+ĹŠ"().ĹŠ 04#ĹŠ2#ĹŠ2#-3~ ĹŠ, +ĹŠ/.1ĹŠ#2.ĹŠ8ĹŠ!.,#-Äą 3¢ĖŊĥ 4_ĹŠ$#.ĹŠ#2ĹŠ+.ĹŠ04#ĹŠ#23;ĹŠ/ 2 -".ĹŠ !.-ĹŠ#+ĹŠ241(,(ĢēŊ 23.ĹŠ/1.5.!¢Ŋ 41+ 2ĹŠ #-ĹŠ24ĹŠ,.,#-3.Ä“ '.1 ĹŠ+ ĹŠ04#ĹŠ$4#1 ĹŠ24ĹŠ'() ĹŠ"#ĹŠ ÄƒĹŠ!!(¢-ĔŊ 4+!#ĹŠ 1~ ĔŊ3 , (_-ĹŠÄĽ,#3#ĹŠ + ĹŠ/ 3 ÄŚĹŠ!.-ĹŠ+.ĹŠ"#+ĹŠ241(,(ĔŊ/#1"¢-ĔŊ 324- ,(ēŊ
[i fh[]kdjWÇ" Yec[djÂŒ$ Æ7ooo Yece ied _dj[dieeei `W``W` oe [ijeo cko X_[d 8k[dWi de# Y^[[[i 8o[[[[[[[Ç i_Y " Yed# YbkoÂŒ$
Ĺ? Ĺ?
Ĺ?
Ä Ä‚
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
(23(-% ĹŠ#+ /#2! ".ĹŠ$1#2!.
Ĺ—ĹŠ ĹŠĹŠBei cWh_iYei ied kd Wb_c[d# je X[d[Ă’ Y_eie fWhW bW iWbkZ o i[ h[Yec_[dZW Yec[hbei Zei e jh[i l[Y[i feh i[cWdW$ I_d [cXWh]e" i_ ik YWb_ZWZ de [i Xk[dW fk[Z[d fheZkY_hi[ Z[iW]hWZWXb[i Yedi[Yk[dY_Wi$ :_ij_d]k_hbei de i_[cfh[ [i \|# Y_b" f[he [n_ij[d Wb]kdei jhkYei gk[ fk[Z[d WokZWhb[ W jecWh kdW Xk[dW Z[Y_i_ÂŒd$ Kd ebeh \h[iYe W cWh [i kd _dZ_YWj_le _cfehjWdj[" WZ[c|i bei e`ei Z[b Wd_cWb Z[X[d l[hi[ Xh_bbWdj[i" jhWdifWh[dj[i o kd feYe h[iWb# jWZei$ JWcX_ƒd [i d[Y[iWh_e h[l_iWh gk[ bWi [iYWcWi de [ijƒd l_iYeiWi o gk[ bW f_[b de fei[W Whhk]Wi e cWdY^Wi$
(-.ĹŠ "#!4 ".
Ĺ—ĹŠĹŠĹŠĹŠ
;ijW X[X_ZW `k[]W kd fWf[b cko _cfehjWdj[" de iebe [d bW c[iW" i_de jWcX_ƒd [d bW YeY_dW$ Feh [ie [i Yedl[d_[dj[ gk[ i[ kj_b_Y[ [b WZ[YkWZe Yed YWZW ]k_ie" fehgk[ WZ[c|i Z[ ZWhb[ kd [nY[b[dj[ iWXeh W bei fbWjei" WokZW W [dh_gk[Y[h bWi Yec_ZWi$ Kd b_Yeh Z[ XW`W YWb_ZWZ de [i Wfhef_WZe [d d_d]‘d YWie$ ;i fh[\[h_Xb[ kj_b_pWh [b c_ice fWhW X[X[h o fWhW fh[fWhWh bei Wb_c[djei$ FWhW [b Whhep" kd l_de XbWdYe e heiWZe [i _cfh[iY_dZ_Xb[" _]kWb gk[ fWhW bWi YWhd[i XbWdYWi$ I_d [cXWh]e" fWhW bWi YWhd[i he`Wi [i \kdZWc[djWb kde j_dje$ FWhW bei cWh_iYei [b c[`eh iWpedWZeh [i kd l_de XbWdYe o fWhW ZWhb[ kd jegk[ [if[Y_Wb W bWi \hkjWi i[ h[Ye# c_[dZW kde ZkbY[ e i[c_i[Ye$
+2 Ŋ"#Ŋ3., 3# (15#Ŋ+.Ŋ,(2,.Ŋ/ 1 Ŋ" 1+#Ŋ2 .1Ŋ Ŋ 4-Ŋ 11.9Ŋ + -!.Ŋ!.,.Ŋ/ 1 Ŋ 2#Ŋ "#Ŋ#,/ - "(3 2Ŋ.Ŋ!.,.Ŋ2.$1(3.Ŋ / 1 Ŋ4-Ŋ#23.$ ".ēŊ
ēŊ +Ŋ+(!.Ĺ /#-.Ŋ 84" Ŋ Ŋ/1#5#-(1Ŋ "($#1#-3#2Ŋ3(/.2Ŋ"#Ŋ !;-!#1ē
Ä–
ěŊĉĔĎŊ ĹŠÄŠĹŠ*%ĹŠ"#ĹŠ3., 3#2ĹŠ, "41.2Ä“ ěŊĉŊ!# .++ 2ĹŠ%1 -"#2Ŋĸ"#ĹŠ2 .1ĹŠ $4#13#Ěē Ä›ĹŠÄŒĹŠ"(#-3#2ĹŠ"#ĹŠ ).Ä“ ěŊ + ' ! Ä“ ěŊ !#(3#ĹŠ"#ĹŠ.+(5 ĹŠ5(1%#-ĹŠ#731 Ä“ ěŊ %4 Ä“ ÂĄ Ä–
(04#Ŋ+ Ŋ!# .++ Ŋ8Ŋ+.2Ŋ ).2Ŋ#-Ŋ31.9.2Ŋ ,48Ŋ/#04# .2Ŋ8Ŋ/#+#Ŋ+.2Ŋ3., 3#2Ŋ / 1 Ŋ!.13 1+.2ēŊ -Ŋ4- Ŋ.++ Ŋ%1 -"#Ŋ 2.$1~ Ŋ+ Ŋ!# .++ Ŋ8Ŋ!4 -".Ŋ#,/(#!#Ŋ Ŋ31 -2/ 1#-3 1Ŋ!.+.04#Ŋ#+Ŋ ).Ŋ8Ŋ+ Ŋ + ' ! ēŊ 4 -".Ŋ2#Ŋ".1#-Ŋ  " Ŋ +.2Ŋ3., 3#2Ŋ8Ŋ/.-% Ŋ Ŋ$4#%.Ŋ ,#"(.ēŊ 1Ŋ,.5(#-".Ŋ+.2Ŋ3., 3#2Ŋ Ŋ ,#"(" Ŋ04#Ŋ2#Ŋ + -"#-Ŋ!.-Ŋ4- Ŋ !4!' 1 Ŋ"#Ŋ/ +.Ŋ8Ŋ1#,.5#1Ŋ"#Ŋ5#9Ŋ #-Ŋ!4 -".ĔŊ  "(#-".Ŋ,#"(.2Ŋ 5 2.2Ŋ"#Ŋ %4 Ŋ!4 -".Ŋ2# Ŋ-#!#2 Ĺ 1(.ēŊ Ŋ,#"( Ŋ!.!!(¢-Ŋ"#Ŋ+.2Ŋ3., Ĺ 3#2Ŋ/.-#1Ŋ4-Ŋ/.!.Ŋ,;2Ŋ"#Ŋ + Ĺ ' ! Ŋ8Ŋ, -3#-#1Ŋ+ Ŋ.++ Ŋ3 / " Ŋ+.Ŋ 04#Ŋ,;2Ŋ2# Ŋ/.2( +#ēŊ 4 -".Ŋ+.2Ŋ 3., 3#2Ŋ#23_-Ŋ"#2#!'.2Ŋ"#+Ŋ3.".Ŋ 8Ŋ+ Ŋ2 +2 Ŋ' 8 Ŋ3., ".Ŋ4-Ŋ .-(3.Ŋ 3.-.Ŋ - 1 -) ".Ŋ#23 1;Ŋ+(23 ēŊ #Ŋ /4#"#Ŋ3., 1Ŋ3 +Ŋ!4 +Ŋ.Ŋ/ 2;-".+ Ŋ /.1Ŋ4- Ŋ 3(".1 Ŋ/ 1 Ŋ"#2' !#1Ŋ+.2Ŋ %14,.2Ŋ8Ŋ/(! 1Ŋ,;2Ŋ+ Ŋ!# .++ ēŊ Ė
#2#15 1ĹŠ4- ĹŠ/ 13#ĹŠ/ 1 ĹŠ42 1+ ĹŠ !.,.ĹŠ2.$1(3.ĹŠ"#ĹŠ 2#ĹŠ/ 1 ĹŠ,4!'.2ĹŠ /+ 3.2ĹŠ8ĹŠ!4 -".ĹŠ#23_ĹŠ$1~ ĹŠ!.+.! 1ĹŠ #-ĹŠ4-ĹŠ1#!(/(#-3#ĹŠ8ĹŠ%4 1" 1ĹŠ#-ĹŠ#+ĹŠ $1(%.1~ÄƒĹŠ!.ĹŠ.ĹŠ!.-%#+ 1Ä“
Ä” + ĹŠ'.13 +(9 ĹŠ/1#$#1("
"#,;2ĹŠ"#ĹŠ/1./.1!(.- 1ĹŠ4-ĹŠ2 .1ĹŠ#7Äą 04(2(3.ĹŠ ĹŠ+ 2ĹŠ!.,(" 2ĔŊ#2ĹŠĹŠ4-ĹŠ +(,#-3.ĹŠ #-_ÄƒĹŠ!.ĹŠ/ 1 ĹŠ+ ĹŠ2 +4"Ä“ 9hkZe" \h_je" YeY_Ze" [d iWbiW" [d pkce e [d kd ]WpfWY^e" [b jecWj[ [i kd Wb_c[dje dkjh_j_le o h[\h[iYWdj[ gk[" feh ik iWXeh o XW`e fh[Y_e" \eh# cW fWhj[ Z[ bW Z_[jW Z_Wh_W$ I_d [cXWh]e" [b X[d[Ă’ Y_e Z[ [ijW i[dY_bbW ^ehjWb_pW [d bW iWbkZ fk[Z[
i[h cko ikf[h_eh W YkWbgk_[h \|hcWYe$ O [i gk[" ^WijW bW \[Y^W" d_d]‘d c[Z_YWc[dje ^W Yedi[]k_Ze j[d[h jWdjWi fhef_[ZWZ[i j[hWfƒkj_YWi Yece ^W h[l[bWZe fei[[h [ij[ Wb_c[dje" fk[ije gk[ feh i‡ iebe fh[l_[d[ [b Y|dY[h o [b _d\Whje" WZ[c|i Z[ YecXWj_h ckY^Wi ejhWi [d\[hc[ZWZ[i$ ;i kd YedeY_Ze h[c_d[# hWb_pWdj[ o Z[i_djen_YWdj[" Wi‡ Yece kd [nfkbieh Z[ bWi jen_dWi Z[X_Ze W ik [\[Yje Z_khƒj_Ye$ JWcX_ƒd i[ [dYWh# ]W Z[ [b_c_dWh [b |Y_Ze ‘h_Ye o Z[ h[ZkY_h [b Yeb[ij[heb$ BW ikijWdY_W gk[" i[]‘d jeZei bei [ijkZ_ei" [i h[ifed# iWXb[ Z[ [ij[ h[ikbjWZe [i [b b_Yef[de" kd f_]c[dje gk[ b[ fhefehY_edW ik YWhWYj[h‡ij_Ye Yebeh he`e$ ;ij[ Yecfed[dj[ jWcX_ƒd i[ [dYk[djhW [d bWi iWdZ‡Wi" bWi pWdW^eh_Wi" bei ZkhWpdei o bWi jehed`Wi$ BW Z_\[h[dY_W [i gk[ [b jecWj[ [i [b gk[ cWoeh fhefehY_Œd j_[d[ Z[ [ij[ f_]c[dje" ^Wi# jW [b fkdje Z[ gk[ Xh_dZW [b /& Z[b d[Y[iWh_e fWhW [b eh]Wd_ice$ ;-!#1
I_d [cXWh]e" be gk[ c|i _d# j[hƒi ^W Z[if[hjWZe [djh[ bei Y_[dj‡Ò Yei Z[ jeZe [b ckdZe [i bW YWfWY_ZWZ Z[b b_Yef[de
fWhW fh[l[d_h [ _dYbkie YecXWj_h [b Y|dY[h$ JhWi WdWb_pWh -( [ijk# Z_ei ieXh[ bW h[bWY_ÂŒd [djh[ [ijW ikijWdY_W o [b Y|dY[h" kd [gk_fe Z[ _dl[ij_]WZeh[i Xh_j|d_Yei o dehj[Wc[h_YWdei YecfheXÂŒ gk[" [d +- Z[ [bbei" bW h[bWY_ÂŒd [djh[ kd c[deh h_[i]e Z[ Y|dY[h o bW _d][ijW Z[ b_Yef[de [hW Yecfb[# jWc[dj[ i[]khW o [d )+ [hW Ăˆi_]# d_Ă’ YWj_lWÉ$ ;ij[ ^WbbWp]e f[hc_j_ÂŒ W bei Y_[dj‡Ò Yei YedYbk_h gk[ [ijW iki# jWdY_W [i kd feZ[heie Wdj_en_# ZWdj[ gk[ fh[l_[d[ bW WfWh_Y_ÂŒd Z[ Z_l[hiei j_fei Z[ Y|dY[h" [if[# Y_Wbc[dj[ Z[ fhÂŒijWjW" fkbcÂŒd o [ijÂŒcW]e$ BW b_ijW" de eXijWdj[" feZh‡W i[h cWoeh$ I[ YedĂ’ hcÂŒ gk[ bei ZWjei ik# ]_[h[d gk[ [b Yedikce ^WX_jkWb Z[ jecWj[ fh[l_[d[ jWcX_ƒd [b Y|dY[h Z[ [iÂŒ\W]e" f|dYh[Wi" cWcW" Yebehh[YjWb" XkYWb o Y[h# l_YWb$ Bei ^ecXh[i gk[ dkdYW ^Wd jecWZe iWbiW Z[ jecWj[ j_[d[d c|i fei_X_b_ZWZ[i Z[ Z[iWhhebbWh Y|dY[h Z[ fhÂŒijWjW gk[ gk_[d[i be ^WY[d lWh_Wi l[Y[i W bW i[cW# dW$ ?d][h_hbW kdW l[p W bW i[cW# dW h[ZkY[ [b h_[i]e Z[ ik\h_h [ij[ j_fe Z[ jkceh [d kd '& e '+ " c_[djhWi gk[ bWi fei_X_b_ZWZ[i XW`Wd [d kd )& e )+ i_ i[ ^WY[ Zei l[Y[i feh i[cWdW$ I_ bei lWhed[i Z[X[d Z_ifed[h Z[ kdW Xk[dW fhel_i_ÂŒd Z[ jecW# j[i [d ik d[l[hW fWhW fh[l[d_h [b Y|dY[h Z[ fhÂŒijWjW [b jkceh c|i \h[Yk[dj[ [d [b lWhÂŒd " bWi ck`[# h[i Z[X[d ^WY[h be c_ice fWhW [l_jWh [b Y|dY[h c|i ^WX_jkWb [d ik i[ne0 [b Z[ cWcW$
+ĹŠ 11.9ĹŠ-#%1.ĔŊ4-ĹŠ ".1-.ĹŠ 2 -.ĹŠ#-ĹŠ+ 2ĹŠ!.,(" 2 23#ĹŠ!#1# +ĹŠ3(#-#ĹŠ%1 -"#2ĹŠ5(134"#2ĹŠ 04#ĹŠ+#ĹŠ" -ĹŠ4-ĹŠ/4#23.ĹŠ(,/.13 -3#ĹŠ #-ĹŠ+ 2ĹŠ1#!#3 2ĹŠ!4+(- 1( 2Ä“ BW ]Wijhedec‡W ckdZ_Wb Yedi_Z[hW Wb Whhep d[]he Yece kd _d]h[Z_[dj[ fh_d# Y_fWb [d iki fbWjei$ Bei Wi_|# j_Yei Z[YehWd o WZehdWd Yed Whhep d[]he iki Wb_c[djei YWhWYj[h‡ij_Yei Yece iki# ^_" deeZb[i" fkZZ_d]" [djh[ ejhei$ ;ij| XWiWZe [d ck# Y^Wi YkbjkhWi eh_[djWb[i" lW# behWZe feh iki Yecfed[dj[i dkjh_j_lei o X[dÂƒĂ’ Yei fWhW bei i[h[i ^kcWdei$ ;ij[ Yecfed[dj[" [d kd fbWje \k[hj[ W bW ^ehW Z[ Wb# cehpWh e Y[dWh" j_[d[ iWXeh W fkhW dWjkhWb[pW$ Ik ]hWde [i Ă’ hc[ o Wb fheXWhbe" kij[Z Z[]kijWh| bei [dYWdjei Z[ bW j_[hhW$ Be Yedi_]k[d [d bWi j_[dZWi ]ekhc[j k eh_[djWb[i$ E i_ ]kijW fk[Z[ fh[fWhWhbe Z[ \ehcW YWi[hW$ ;b Wbck[hpe o bW c[h_[d# ZW ied bWi Yec_ZWi gk[ i[ h[Yec_[dZW fWhW _dYehfehWh [b Whhep d[]he$ Feh [`[cfbe" YkWdZe fh[fWh[ kd c[d‘ [if[Y_Wb [ijW Wbj[hdWj_lW [ _dYbkie [b Whhep l[hZ[ ied WY[fjWXb[i$ B[ ZWd kd jegk[ Z[ Z_i[‹e W ik Yec_ZW$ FeZ[# cei fh[fWhWh ĂˆfW[bbW Z[ Whhep d[]heÉ" ĂˆWhhep d[]he Yed YWbW# cWh[iÉ o ckY^ei c|i$ ;ij[ Y[h[Wb [i c|i dk# jh_j_le gk[ ejhei Wb_c[djei Yece [b cWYWhhÂŒd" gk[ i[
-ĹŠ+ ĹŠ'(23.1( Ĺ—ĹŠĹŠ 2;-".2#ĹŠ#-ĹŠ! " ĹŠ!.234, 1#ĔŊ#+ĹŠ 11.9ĹŠ-#%1.ĹŠ' ĹŠ% - ".ĹŠ/./4+ 1(" "ĹŠ8ĹŠ #2ĹŠ"%423 ".ĹŠ/.1ĹŠ+.2ĹŠ!'(-.2ĹŠ"# (".ĹŠ ĹŠ 24ĹŠ'(23.1( ĹŠ#-ĹŠ+ ĹŠ -3(%Ă•#" "ēŊ +ĹŠ 11.9ĹŠ #1 ĹŠ!.-2("#1 ".ĹŠ1# +ĹŠ8ĹŠ"(%-.ĹŠ/ 1 ĹŠ +.2ĹŠ-. +#2ĔŊ2(#-".ĹŠ#++.2ĹŠ+.2ĹŠĂŒ-(!.2ĹŠ 04#ĹŠ/."~ -ĹŠ!.-24,(1+.ĹŠ8ĹŠ#23 ĹŠ /1.'( (".ĹŠ/ 1 ĹŠ+.2ĹŠ/. 1#2Ä“
fheZkY[ [d cWoeh YWdj_ZWZ W d_l[b ckdZ_Wb$ #-#ÄƒĹŠ!(.2ĹŠ/ 1 ĹŠ+ ĹŠ2 +4"
;ij[ _d]h[Z_[dj[ [d bWi Yec_ZWi i[ lk[bl[ c|i _cfehjWdj[ Wb Yedjh_Xk_h Yed bW Xk[dW iWbkZ$ ;ij[ j_fe Z[ Whhep j_[d[ fhef_[# ZWZ[i Wdj_en_ZWdj[i" gk[ Wok# ZWd W YedjhebWh bei d_l[b[i Z[ Yeb[ij[heb [d bW iWd]h[ o W Yec# XWj_h [d\[hc[ZWZ[i YWhZ‡WYWi$ J_[d[ kd Wbje Yedj[d_Ze Z[ WdjeY_Wd_dWi Wdj_en_ZWdj[i f_]c[djei gk[ [ijWXb[Y[d [b Ye# beh Z[ ckY^Wi \hkjWi o l[hZkhWi eiYkhWi Yece bWi X[h[d`[dWi" bWi XWoWi" klWi" [djh[ ejhei " WZ[c|i WXiehX[d bWi cebƒYkbWi ZW‹_dWi fWhW bWi Whj[h_Wi o Yed# jh_Xko[d Wb Z[j[h_ehe Z[b 7:D" gk[ fheZkY[ [b Y|dY[h$ JWcX_ƒd fk[Z[ Wb_l_Wh bWi _d\[YY_ed[i Z[ bW f_[b h[bWY_edWZWi Yed WicW" Wb[h]_Wi" [d\[hc[ZWZ[i _d\[Y# Y_eiWi o c|i$
11.9ĹŠ #%1. Ä–
Ä›ĹŠÄŒÄ‡Ä‡ĹŠ%1ĹŠ"#ĹŠ!.-!' Ä“ Ä›ĹŠÄˆĹŠ/(,(#-3.ĹŠ1.).ĹŠ.ĹŠ5#1"#ēŊ Ä›ĹŠÄˆĹŠ!# .++ Ä“ ěŊĎŊ3., 3#2ĹŠ, "41.2Ä“ Ä›ĹŠÄˆÄ‡Ä‡ĹŠ!!ĹŠ"#ĹŠ !#(3#ĹŠ"#ĹŠ.+(5 Ä“ Ä›ĹŠÄˆÄŽÄ‡ĹŠ!!ĹŠ"#ĹŠ5(-.ĹŠ + -!.ĹŠ2#!.Ä“ Ä›ĹŠÄŒÄ‡Ä‡ĹŠ%1ĹŠ"#ĹŠ 11.9ĹŠ"#ĹŠ%1 -.ĹŠ 1#".-".Ä“ ěŊĊŊ"(#-3#2ĹŠ"#ĹŠ ).ēŊ Ä›ĹŠÄˆÄ‰ĹŠ+ -%.23(-.2ĹŠ/#+ ".2Ä“ ěŊ +%.ĹŠ,;2ĹŠ"#ĹŠ4-ĹŠ+(31.ĹŠ"#ĹŠ! +".ĹŠ "#ĹŠ/#2! ".Äą$4,#3ēŊ ěŊĉŊ .+2(3 2ĹŠ"#ĹŠ3(-3 ĹŠ"#ĹŠ! + , 1Ä“ ěŊ +ĹŠ +ĹŠ%423.ēŊ ĹŠ ÂĄ Ä–
ěŊ (04#ĹŠ+.2ĹŠ/(,(#-3.2ĹŠ8ĹŠ+ ĹŠ!# .Äą ++ ēŊ -ĹŠ4- ĹŠ! 94#+ ĹŠ"#ĹŠ 11.ĹŠ .ĹŠ2 13_-ĔŊ! +(#-3#ĹŠ#+ĹŠ !#(3#ĹŠ8ĹŠ 2.$1~ ĹŠ+ ĹŠ!# .++ ĹŠ/(! " ĹŠ' 23 ĹŠ 04#ĹŠ04#"#ĹŠ31 -2/ 1#-3#ēŊ  " ĹŠ #-3.-!#2ĹŠ#+ĹŠ/(,(#-3.ĹŠ8ĹŠ+ ĹŠ!.-!' ĹŠ #-ĹŠ31.9.2Ä“ ěŊ #,4#5 ĹŠ ĹŠ$4#%.ĹŠ+#-3.ĹŠ' 23 ĹŠ 04#ĹŠ2#ĹŠ".1#ĹŠ+ ĹŠ,#9!+ ēŊ ĹŠ!.-Äą 3(-4 !(¢-ĹŠ  " ĹŠ+.2ĹŠ3., 3#2ĹŠ /#+ ".2ēŊ #)#ĹŠ04#ĹŠ2#ĹŠ5 8 -ĹŠ!.-Äą !#-31 -".ĹŠ+.2ĹŠ)4%.2ĔŊ %1#% -".ĹŠ +%.ĹŠ"#ĹŠ %4 ĹŠ.ĹŠ/¢-% +#ĹŠ4-ĹŠ/.!.ĹŠ "#+ĹŠ! +".ĹŠ"#ĹŠ/#2! ".Ä“ ěŊ 4#%.ĔŊ  " ĹŠ#+ĹŠ 11.9ĹŠ8ĹŠ"_)#+.ĹŠ !.!(- 1ĹŠ/.1ĹŠ".2ĹŠ,(-43.2ĹŠ ĹŠ++ , ĹŠ +3 ĹŠ2(-ĹŠ"#) 1ĹŠ"#ĹŠ1#,.5#1ēŊ ĹŠ !.-3(-4 !(¢-ĔŊ1(#%4#ĹŠ#+ĹŠ5(-.ĹŠ8ĹŠ "#)#ĹŠ#5 /.1 1ĹŠ#+ĹŠ +!.'.+ĹŠ4-ĹŠ/.!.ēŊ %1_%4#+#ĹŠ#+ĹŠ! +".ĹŠ"#ĹŠ/#2! ".ĹŠ ! +(#-3#ĹŠ8ĹŠ2(-ĹŠ"#) 1ĹŠ"#ĹŠ1#,.5#1ĹŠ "#)#ĹŠ'#15(1Ä“ ěŊ 1(341#ĹŠ+.2ĹŠ ).2ĹŠ!.-ĹŠ4-ĹŠ/.!.ĹŠ"#ĹŠ 2 +ĹŠ8ĹŠ  " ĹŠ +ĹŠ%4(2.ĹŠ)4-3.ĹŠ!.-ĹŠ+ ĹŠ 3(-3 ĹŠ"#+ĹŠ! + , 1ēŊ .,.ĹŠ24%#Äą 1#-!( ĹŠ/ 1 ĹŠ#+ĹŠ/+ 3.ĔŊ2#ĹŠ1#!.,(#-Äą " ĹŠ %1#% 1+#ĹŠ +%.ĹŠ"#ĹŠ, 1(2!.2ĹŠ.ĹŠ 4-.2ĹŠ+ -%.23(-.2Ä“ ěŊ .,.ĹŠĂŒ+3(,.ĹŠ/ 2.ĔŊ"_)#+.ĹŠ'#1Äą 5(1ĹŠ4-.2ĹŠÄˆÄ‡ĹŠ,(-43.2ēŊ 1 ĹŠÄƒĹŠ- +(Äą 9 1ĹŠ+ ĹŠ!.!!(¢-ĹŠ/4#"#ĹŠ' !#1+.ĹŠ#-ĹŠ #+ĹŠ'.1-.ĹŠ.ĹŠ/.-#1+.ĹŠ ĹŠ$4#%.ĹŠ,48ĹŠ +#-3.ĹŠ!.-ĹŠ4- ĹŠ/+ ! ĹŠ"($42.1 ēŊ
~15 2#ĹŠ#23 ĹŠ1#!#3 ĹŠ"#ĹŠ 11.9ĹŠ -#%1.ĹŠ !.,/ Â -".ĹŠ"#ĹŠ4- ĹŠ , 8.-#2 ĹŠ!.-ĹŠ ).2ĹŠ8ĹŠ4-ĹŠ5(-.ĹŠ + -!.Ä“
} ēŊ 2Ŋ!.234, 1#2Ŋ8Ŋ31 "(!(.-#2Ŋ!4+(- 1( 2Ŋ"#Ŋ 2( Ŋ2#Ŋ' -Ŋ (-!.1/.1 ".Ŋ#-Ŋ+ Ŋ!.!(- Ŋ#!4 3.1( - ē
ƒ 7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
Ä Äƒ
.ĹŠ/#1,(3 2ĹŠ04#ĹŠ3#ĹŠ ,.13(ÄƒĹŠ04#Âľ7b]kdW l[p ^Wi l_ije gk[ [d c[Z_e ĹŠ } ĹŠ } ĹŠÄ› :_Wh_Wc[d# Z[ kdW Z_ifkjW" Wb]k_[d Z_]W0 Ɯj_[# j[ WokZe W bW ][dj[ W [cf[pWh d[i hWpÂŒd Ç" feh ikfk[ije gk[ de$ ik Z‡W Yed fei_j_l_ice feh ;d l[p Z[ Z_iYkj_h" Z_b[0 ÆYkWdZe [i# c[Z_e Z[ c_ f|]_dW Z[ <WY[# jƒi YWbcWZe" Yedl[hiWceiÇ$ I_ [ijW Xeea ZedZ[ [iYh_Xe ĂˆJk :ei_i fhefei_Y_ÂŒd Yh[W c|i j[di_ÂŒd" de j[ :_Wh_W Z[ Cej_lWY_ÂŒdÉ$ WYeXWhZ[i o lk[bl[ W h[f[j_h be c_i# >WY[ kdWi i[cWdWi [iYh_# ce$ :[ [ijW cWd[hW" [b W]h[ieh i[ ZW X‡ bW i_]k_[dj[ Zei_i0 Æ9kWdZe Yk[djW gk[ fWhW ^WXbWh Yedj_]e" fh_# Wb]k_[d j[ cehj_Ă’ gk[" de b[ c[he j_[d[ gk[ jhWdgk_b_pWhi[$ Z[i [b ]kije Z[ l[hj[ [de`W# )$ 7fh[dZ[ W fed[h b‡c_j[i$ Ze$ BW _dZ_\[h[dY_W [i [b WhcW 9ece Z_Y[ [b Z_Y^e Ækd c|i feZ[heiW YedjhW WXkiWZeh WXkiW" ^WijW gk[ Wgk[b gk[ j_[d[ bW c_# ĹŠ [b WXkiWZe be f[hc_j[Ç$ De i_ÂŒd Z[ ^WY[hj[ bW l_ZW Z[`[i gk[ j[ _dj_c_Z[$ Feh _cfei_Xb[Ç$ [`[cfbe0 bW fh_c[hW l[p gk[ C[ gk[Zƒ ĂˆXegk_W# 1~ ĹŠ 1~-ĹŠ#2ĹŠ ,.3(5 ".1 ĔŊ Wb]k_[d j[ b[lWdj[ bW lep [i [b X_[hjWÉ YkWdZe l_ gk[ $(%41 ĹŠ1 "( +ĹŠ8ĹŠ 43.1 ĹŠ"#ĹŠÄĽ ("#ĹŠ [ij[ c[diW`[ hecf_ÂŒ [b ,;2ĹŠ#2/#1 ĹŠ,;2ĹŠ cec[dje Z[ [n_]_h gk[ `Wc|i 3#-"1;2ĹŠ be lk[blW W ^WY[h1 e bW fh_c[# hƒYehZ [djh[ Yec[djW# 8ĹŠ. ,;2ČĔŊ"(2/.-( +#ĹŠ hW eYWi_ÂŒd [d gk[ bW ik[]hW h_ei o Ăˆb_a[iÉ$ BW h[WYY_ÂŒd #-ĹŠ3." 2ĹŠ+ 2ĹŠ Æi[ c[jWÇ [d jk cWjh_ced_e" Z[b f‘Xb_Ye c[ cej_lÂŒ W +( 1#1~ 2ēŊ f‡Z[b[ _dc[Z_WjWc[dj[ gk[ h[jeYWh [b j[cW$ JeZei h[if[j[ jk fh_lWY_ZWZ$ [d Wb]‘d cec[dje fW# ĹŠ *$ 7fb_YW bW b[o Z[b ^_[be0 iWcei kd cWb hWje Yed ÂśIƒ \h‡e Yed gk_[d j[ ^eij_# Wb]k_[d Z_\‡Y_b$ F[eh W‘d" ^Wo gk_[d[i j_[d[d gk[ 1 ĹŠ,;2ĹŠ!.-2#Äą ).2Ä–ĹŠ666Ä“, 1( Äą ]W :[`W Z[ ZWhb[ _cfehjWd# b_Z_Wh Yed i[h[i _diefeh# , 1(-Ä“!.,ĹŠ.ĹŠ#-ĹŠ Y_W$ Jk Wj[dY_ÂŒd [i be gk[ $ !# ..*Ä“!.,Äľ [d]hWdZ[Y[ ik fei_Y_ÂŒd$ Kd jWXb[i W Z_Wh_e" X_[d i[W 1( WZl[hiWh_e c_Z[ ik feZ[h Z[ bW ik[]hW [djhec[j_ZW" 1(- -+(-#Ä“ WYk[hZe W bW [\[Yj_l_ZWZ Z[ [b l[Y_de [dl_Z_eie" [b iki WjWgk[i o XkhbWi$ Feh [ie" [djh[ YecfW‹[he Z[ jhWXW`e Y^_ice# c[dei YWie b[ ^W]Wi" c[dei feZ[h ie e bW [nfWh[`W Y[beiW$ b[ ZWi$ H[YedeY[ gk[ [ijWi f[h# ;i[ c_ice Z‡W gk[ fkXb_gkƒ bW iedWi dkdYW YWcX_Wd$ KdW Zei_i Z[ cej_lWY_ÂŒd jWd Yec[djW# l[p gk[ be WY[fj[i" jk d_l[b ZW [d bW cW‹WdW" Z[Y_Z‡ [iYh_X_h Z[ jeb[hWdY_W Wkc[djWh|$ [d bW deY^[ [d c_ ckhe Z[ <WY[# J_[d[i Zei efY_ed[i0 j[ Wb[# Xeea0 Æ9kWdZe j[ gk_[hWd ^WY[h `Wi feh Yecfb[je e Wfh[dZ[i bW l_ZW Z_\‡Y_b" l[dY[ [iW XWjWbbW Z[ W b_Z_Wh Yed bW f[hiedW$ I_ de W]h[i_l_ZWZ Yed Wceh$ KdW iedh_iW j[ fk[Z[i Wb[`Wh" i_]k[ [ijei i_dY[hW [i c|i feZ[heiW gk[ h[Y_# Yedi[`ei Âśo de f[hc_jWi gk[ fheYWh Yed ^eij_b_ZWZÇ$ j[ cehj_Ă’ gk[d '$ De jec[i f[hiedWb ik WYj_jkZ$ ;iW f[hiedW j[ ceh# j_Ă’ YW fehgk[ [ij| _d\[b_p Yed# %86&2 i_]e c_icW o de iefehjW l[h 7(55(12 2 *$/3Ă?1 W ejhei \[b_Y[i$ <‡`Wj[ gk[ ied ckY^ei W gk_[d b[ ^WY[ bW 3$5$ $/48,/(5 l_ZW ĂˆYkWZh_jeiÉ$ Ik Yecfeh# '(6'( $ 076 jWc_[dje h[\b[`W ik fhef_W =21$ &80%$<É 780%$&2 Z[iZ_Y^W" ÂśYecfhƒdZ[be ($ CWdjƒd bW YWbcW$ De j[ ,1)250(6 ² _dlebkYh[i [d kdW Z_iYki_ÂŒd$ De bb[]Wh|i W d_d]‘d WYk[hZe$ 7$F$%*.)-+%a$c$
ŏ ŏ
ŏ
¡
Ċŋ
?% D8I:<CF D<A@8 I% _d\a`X7cX_fiX%Zfd%\Z
āą
92= '( $558//2
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. Čŏ
5Ì2 '(/ (&8$'25 0(16$-( (1*$5*2
3$3$*$<2
/$'521$ &(7É&(2 0$5, 12 *,*$17(
2/$ 6Ì0%2/2 '( (,167(1,2
'8(f2
48( 35$&7,&$ /$ 0$*,$ 0(7$/
%8552
(0%$5&$&,Ð1 '(/ ',/89,2
35(&,262
',63(56$
52('25
&+,)/$'$
(48,3$5
2-($5 $9,=25$5
35(6,' $5*(1 7,12 3(*$
48Ì0,&2 '( 6Ì0%2/2 $7 +$/$*2
/,&25
3$/0$ '( &$1$5,$6
&$5,&,$
&$17Ð1 '( ,0%$%85$ ',26 '(/
6$/$ *5$1'( 3$60$'2
.1 +(-#
$&725 '( /$ 3(/Ì&8/$ 7+( /$=$586 352-(&7
$025
ĔũĈďĖĉĎ
ũũũ9ehWb_dW [i kdW d_ W ŗũ WXkhh_ZW o jh_ij[ [d ik dk[le
0(7$/ 35(&,262
'(63(16$
92/&É1 '(/ (&8$'25
*$5=$ $5($/
3$5(-$
7+( %25'(5
0É48,1$ '( 7(-(5
'$5 %5$0,'26
3(/Ì&8/$
*$72 (1
3/$17$ '( ),%5$ 7(;7,/
/
8
-
$
$
5
$
$
&
2
/
)$/'$ ,1'Ì*(1$ 92/&É1 '(/ (&8$'25
2
&
$
1
$
$
&
2
/
7Ì78/2 62%( 5$12 021*2/ 5(/$7,92 $/ /8*$5
%
$
&
,
5
2
1
5Ì2 '( 586,$ < .$=$48,67É1 *$5=$ 5($/
/
$
9
$
3$/0$ '( ),%5$ 7(;7,/ &20326,&,Ð1
$
<
$
(
0 &255(2 (/(&75Ð1,&2
2
)5872 '( /$ &+,)/$'2
,
'
2
$
&
$
$'9(5%,2 '(
3$/0(5$
$5*2//$
5(/$7,92 &21 %/,1'$-(
352120%5(
%
5
8
/
$
,19É/,'$ ,0327(17(
7
6
,
6
7
,
'
&$%(//2
1
(6326$ '( $%5$+$0 $'8&,5
$
/
326(6,92
'(/7$ %/$1&2
2
/8*$5
1
$%5(9,$'2
(;321(5
&
6$172 (1 32578*8e6
$3Ð&23( '(
$7$&$5 0$0É
'
$
5 $3Ð&23( '(
7(/(129(/$ /$ '8(f$
1
$
1
$
'
$
(
&
2
)/27$5 (1 (/ $*8$ 5(3(5&8&,Ð1
6
6$172
(;75$f2
5
&21&+$ 5,=2
5
, 20(*$
0
$85(2/$
/
7
$
2
',26 '(/ 9,12
5
$
6
8
5
1(8752
$
*$5$17Ì$ 38172
&$5',1$/
+$/2
5$7$ (1 ,1*/e6
/Ì5,&$
2
,1*/e6
6,67(1&,$
(67$'2 '( 9(1(=8(/$ &,8'$' '( -$3Ð1
$3$*$<2
$&$f2
(/$7,92 $ /$ 1$5,=
(50$1$ '( 0$0É
8;,/,$5 &21&855,5
$ 5 ',*,7$/ &,58-$12 )5$1&e6
$&&,Ð1 '( $5$5
2
$
/
0
*5,72 '(3257,92 6(*81'$ /(75$ *5,(*$
6 $ / (;7(16,Ð1
2
3/$17Ì*5$'2
3$72
',63(56$
&
$
5
6
/,(%5( '( /$ 3$7$*21,$
$17(6 '( &5,672
$
2
$
&/25852 6Ð',&2
0 +,-2 '( 12e
$ 92&$/
$/7$5
2
$
(
5
$
,
$
5
$
7
$
(5525 (1 7(;72 ,035(62
$
5
7
(
$
,167580(172 '( $7$48( 35,1&(6$ ,1&$
(
,
3
(;75(0,'$'
$
,
7
3
$
%
/
2
0
2
1
62*$ '( (63$572
& '(675(=$
&217,1(17( ,1)(5,25
+(50$12 '( 3$3É
ũũ
Ċŋ
ũũũDWhhW bWi Wl[djkhWi Z[ ŗũ N[dW BkYo BWmb[ii " kdW
: ũ }
.2ũ/#-#2ũ3#-"1~ -ũ4-ũ/ 2 ".ũ#2/(-.2. ũ ;d kd fWiWZe Z_ijWdj[" bei
^ecXh[i fei_Xb[c[dj[ j[d Wd [if_dWi [d [b f[d[ gk[" i[] d bei Y_[dj ÒYei" feZ Wd YWkiWh fbWY[h o Zebeh$ ;iWi f[gk[ Wi f Wi jeZWl W [n_ij[d [d bei h]Wdei ][d_jWb[i Z[ bei Y^_cfWdY i" ]Wjei" hWje# d[i o ejhei cWc \[hei$ Kd [gk_fe Z[ _dl[ij_]WZeh[i" gk[ WdWb_p bei ][decWi Z[ bei i[h[i ^kcWdei" Y^_cfWdY i o cWYWYei" i[ Wb gk[ kdW i[Yk[d# Y_W Z[b |Y_Ze Z[ien_hh_XedkYb[_Ye 7:D gk[ i[ Yh[[ gk[ Z[i[cf[#
^ ũ
ĸ)4-(.ũĉĉũıũ)4+(.ũĉĉĹ (ũ' ũ#23 ".ũ/+ -(ă! -".ũ4-ũ5( )#ũ + 1%.ũ#23#ũ2#1;ũ#+ũ,#).1ũ,.,#-3.ũ/ 1 ũ 1# +(9 1+.ũ8 ũ04#ũ2#1;ũ,48ũ/1.5#!'.2.ēũũ Ėũ ũ!.-ă"#-!( ũ!.11.,/#ũ+ ũ ,(23 "ėũ#+ũ,4!'.ũ!.-3 !3.ũ+ ũ!.-24,#ėũ #+ũ1#2/#3.ũ+ ũ!.-2#15 ē
5
5
ĸ 1(+ũĉćũıũ, 8.ũĉćĹ /1.5#!'#ũ! " ũ,.,#-3.ũ ũ2.+ 2ũ8 ũ 04#ũ#23.ũ+#ũ 84" 1;ũ ũ!1#!#1Ĕũ,#).1 1ũ8ũ /1.2/#1 1ũ#-ũ%1 -ũ,#"(" ēũũ Ėũ .-ũ$#ũ4- ũ,41 ++ ũ#2ũ4- ũ3#+ 1 Ĕũ2(-ũ$#ũ 4- ũ3#+ 1 ũ#2ũ4- ũ,41 ++ ēũũ
: ũũ
',26 (1 (/ ,6/$0 ,*8$/'$' (1 /$ 683(5),&,(
35,0(5$
2
ĔũĈČĖććũ
*8(55$ (1
+$%,7$5
ĸ, 19.ũĉĈũıũ 1(+ũĈĒĹ 4ũ#-! -3.ũ/#12.- +ũ2#ũ !1#!(#-3 ũ#-ũ %1 ".ũ24/#1+ 3(5.ũ +ũ(%4 +ũ04#ũ24ũ 31 !3(5.ũ $~2(!.ēũũ Ėũ 8ũ,4!' ũ%#-3#ũ04#ũ /(#-2 ũ04#ũ#+ũ".,(-%.ũ#2ũ4- ũ#2/.-) ũ 04#ũ+(,/( ũ+.2ũ/#! ".2ũ"#ũ+ ũ2#, - ēũũũũ
ĸ, 8.ũĉĈũıũ)4-(.ũĉĈĹ
2ũ/.2( (+(" "#2ũ"#ũ!1#!#1ũ8ũ/1.2/#1 1ũ #-ũ#+ũ , (#-3#ũ/1.$#2(.- +ũ2#1;-ũ,4!'.ũ , 8.1#2ũ/#1.ũ"# #1;ũ#5(3 1ũ!.-ă 12#ũ#-ũ "#, 2~ ēũũ Ėũ #-#1ũ"#, 2( ".2ũ ,(%.2ũ#2ũ-.ũ3#-#1+.2ēũ
3,e/$*2
5
(
3$6,21(6
5$=$
5
7 $&725 '( /$ 7(/(129(/$ '8(/2 '(
*,7$12 '(
2
$
$57Ì&8/2
$1725&+$ &$%2 521=$/ +2*$5
$*5(',5
25'$'2
9,(172
$
$
9(5%$/
$&20(7(5
8 ' $ $ 2 &(/(%5,'$'(6 % 8C=FEJ@E8 JKFIE@ $ ' 2 3 (/0) $ (0*/ 7 , $ 5 / GF<K@JK8 8I><EK@E8 ;< FI@>E< JL@QF% :FE CL>FE<J# <J C8 + 5 $ 1 2 DÝO@D8 I<GI<J<EK8:@äE ;<C DF;<IE@JDF <E 8I><EK@E8% ( * $ 5
0(7$/ 35(&,262
$
$&75,= 0(;, &$1$ '( /$
6,59,(17(
/
/ ,
5Ì2 '(/ (&8$'25
1
7(50,1$&,Ð1
%(//$&2
6ROXFLyQ DQWHULRU
ũũ
ũũ
&$1,&$
,1*/e6 5(< '( /26 $1,0$/(6
&$3,7$/ '( 1258(*$
&
X[bbW ]k[hh[hW Ykoei eh ][d[i i[ h[cedjWd W bW c j_YW o Wd# j_]kW =h[Y_W" o iki c bj_fb[i f[h_f[Y_Wi feh bWi Z_ij_djWi h[]_ed[i gk[ lW h[Yehh_[dZe" i_[cfh[ WYecfW WZW Z[ ik Ò[b Wc_]W =hWXh_[bb[ H[d [ EÉ9eddeh o Z[ ik feZ[heie Z_iYe c|]_Ye" [d ik [j[hdW bkY^W YedjhW [b cWb$
7$3,5
$&758= '( /$
^e]Wh" Yed [njhW ei l[Y_dei Whh_XW o WXW`e$ ;bbW Z[iYkXh[ gk[ Z[jh|i Z[ kdW fWh[Z [d ik YWiW ^Wo kdW fk[hjW i[Yh[jW ^WY_W ejhe ckdZe" Yed ejhW cWZh[ o ejhe fWZh[" kdW l[h# i_ d c[`eh Z[ ik l_ZW$
#-
(67$'2 '( 12 '( (( 88 3(57( ,1)(5,25 '(/ 7(-$'2
*$5$17Ì$ $1'$5 '(12 &+( 9,*,/$1'2
ĸ#-#1.ũĉćũıũ$# 1#1.ũĈĒĹ 4ũ#!.-.,~ ũ/4#"#ũ,#).1 1ũ#-ũ%1 -ũ ,#"(" ũ/#1.ũ"# #1;ũ2#1ũ/14"#-3#ũ#ũ (-3#+(%#-3#ũ +ũ, -#) 1+ 2ēũ Ėũ .ũ /.104#ũ' 8 2ũ'#!'.ũ#-,4"#!#1ũ ũ4- ũ /#12.- Ĕũ+ ũ' 2ũ!.-5#-!(".ē
ĸ$# 1#1.ũĉćũıũ, 19.ũĉćĹũ 4ũ3#,/#1 ,#-3.ũ8ũ/#12.- +(" "ũ2#1;ũ ,;2ũ +#%1#ũ8ũ/+#-.ũ+.ũ04#ũ' !#ũ04#ũ2#ũ 1#+ !(.-#ũ,#).1ũ+.2ũ"#,;2ēũ Ėũ 3(+(9 ũ4-ũ+#-%4 )#ũ.1"(- 1(.ũ8ũ"(ũ!.2 2ũ #731 .1"(- 1( 2ēũũũ
0$+20(7$12
6(f25$
ũũ
ũũ
0(6 /81$5
3/(*$5,$
Ġ !(¢ũ4-ũ"~ ũ!.,.ũ'.8ğ
"ēũ+.ũ' !#ũ"#/#-"#1ũ3.".ũ"#+ũ ,.1ēũ 4ũ#23 (+(" "ũ"#/#-"#ũ,4!'.ũ"#ũ 5#12#ũ !.,/ ".ũ/.1ũ4- ũ/ 1#) ũ8ũ#23.ũ "# #1;ũ2#1ũ31 -2$.1, ".ũ/.1ũ "ēũ .2##ũ 4- ũ %(+(" "ũ$4#13#ũ#-ũ+.ũ1#+ !(.- ".ũ ũ + 2ũă- -9 2ũ+.ũ!4 +ũ' 1;ũ04#ũ"($~!(+,#-3#ũ 24$1 ũ-#!#2(" "#2ēũũũ
(67$03$
W kd fWf[b [d bW fheZkYY_ d Z[ [iWi [if_dWi Z[iWfWh[Y_ [d bei i[h[i ^kcWdei" f[he i[ ^W fh[# i[hlWZe [d ejhei fh_cWj[i$ BW \kdY_ d Z[ bWi [if_dWi f[# d_WdWi de i[ iWX[ W Y_[dY_W Y_[hjW o i[ Yh[[ gk[ fk[Z[ lWh_Wh i[] d bWi [if[Y_[i$ ;d Wb]kdei cWc # \[hei gk[ j_[d[d i_ij[cWi Z[ WYe# fbWc_[dje Yed lWh_ei cWY^ei" ^Wo kdW f[gk[ W ÈYWhh[hW WhcW# c[dj ij_YWÉ feh bW \[hj_b_pWY_ d$ ;d Wb]kdei YWiei" fk[Z[d Wk# c[djWh [b [ij ckbe fWhW [b lWh d ZkhWdj[ [b WYefbWc_[dje$
Bei _dl[ij_]WZeh[i [nWc_dW# XWd bei YWcX_ei [lebkj_lei [d [b 7:D ^kcWde o Z[iYkXh_[hed gk[ dk[ijhei fWh_[dj[i fh_cWj[i ^Wd Yedi[hlWZe +'& i[]c[djei Z[ 7:D gk[ ^Wd Z[iWfWh[Y_Ze Z[ bei i[h[i ^kcWdei$ ;b [ijkZ_e \k[ fkXb_YWZe [d bW h[l_ijW [if[Y_Wb_pWZW ÈDWjkh[É$
}
#.1%# #23(-%'.42# ĸĈđČďıĈĒĈČĹ
ŗũ ũũ?dl[djeh [ijWZekd_Z[di[ ck[h[ kd Z W Yece ^eo [d Dk[lW Oeha$ <k[ [b fh_dY_fWb h[ifediWXb[ Z[ bW WZefY_ d Z[b i_ij[cW Z[ bW Yehh_[dj[ Wbj[hdW fWhW [b ikc_d_ijhe Z[ [d[h] W [b Yjh_YW [d ;;$KK$ J_jkbWh Z[ c|i Z[ *&& fWj[dj[i" ckY^Wi Z[ [ijWi h[bWj_lWi W bW j[Ydebe# ] W Z[ bei jhWdifehj[i" i[ ^_pe Y b[Xh[ jWcX_ d feh kd \h[de Z[ W_h[ Yecfh_c_Ze Wcfb_W# c[dj[ Wfb_YWZe [d bei jh[d[i o feij[h_ehc[dj[ jhWdi\ehcWZe [d Wkjec|j_Ye$ Ik [cfh[iW M[ij_d]^eki[ ;b[Yjh_Y CWdk\WYjkh_d] 9ecfWdo i[ [dYk[djhW WYjkWbc[dj[ W bW YW# X[pW Z[ bW fheZkYY_ d ckdZ_Wb Z[ [b[YjheZec ij_Yei$
ĸ)4+(.ũĉĊũıũ %.23.ũĉĉĹũ .".ũ! , (.ũ04#ũ2#ũ"_ũ#-ũ#23#ũ,.,#-3.ũ 2#1;ũ"#ũ%1 -ũ 84" ũ#-ũ24ũ5(" ũ8ũ+#ũ" 1;ũ 4- ũ2#-2 !(¢-ũ"#ũ/ 9ũ8ũ31 -04(+(" "ũ(-(ı %4 + +#ēũũ Ėũ #-.2ũ, +ũ' !#-ũ +.2ũ"#+(-!4#-3#2ũ04#ũ4-ũ, +ũ)4#9ē
ũũ
ĸ %.23.ũĉĊũıũ2#/3(#, 1#ũĉĉĹ
ũ1#+ !(¢-ũ"#ũ/ 1#) ũ2#ũ5#1;ũ$ 5.1#!(" ũ /.1ũ#+ũ 4#-ũ;-(,.ũ"#ũ24ũ/ 1#) ũ8ũ+ ũ +#%1~ ũ 04#ũ+#ũ(-8#!3 ũ ũ24ũ5(" ēũũ Ėũ ũ . 1 ũ, #231 ũ"#ũ+ ũ(-)423(!( ũ#2ũ/ 1#!#1ũ )423.ũ2(-ũ2#1+.ē
ũũ
ĸ2#/3(#, 1#ũĉĊũıũ.!34 1#ũĉĉĹ +ũ , (#-3#ũ#-ũ24ũ31 ).ũ2#1;ũ,4!'.ũ ,;2ũ 1,.-(.2.ũ+.ũ04#ũ' 1;ũ04#ũ4"ēũ1(-" ũ ,4!'.ũ,#).1ũ#-ũ#23#ēũ Ėũ #).1ũ ' + Ĕũ2# .1Ĕũ04(#-ũ,#).1ũ! ++ ē
ũũ
ĸ.!34 1#ũĉĊũıũ-.5(#, 1#ũĉĈĹũ
2ũ1#+ !(.-#2ũ2#-3(,#-3 +#2ũ+#ũ" 1;-ũ4- ũ $4#13#ũ2#-2 !(¢-ũ"#ũ/+#-(34"ũ8ũ./3(,(2,.Ĕũ #23 2ũ/ 2 -ũ/.1ũ4-.ũ"#ũ242ũ,#).1#2ũ,.ı ,#-3.2ēũ Ėũ +ũ2(+#-!(.ũ#2ũ4- ũ"#ũ + 2ũ 13#2ũ,;2ũ%1 -"#2ũ"#ũ+ ũ!.-5#12 !(¢-ēũ
ũũ
ĸ-.5(#, 1#ũĉĉũıũ"(!(#, 1#ũĉĈĹũ
ũ2(34 !(¢-ũ"#-31.ũ"#ũ24ũ'.% 1ũ2#1;ũ ,4!'.ũ,;2ũ++#5 "#1 ũ+.ũ04#ũ' 1;ũ04#ũ+ ũ 1#+ !(¢-ũ!.-ũ24ũ$ ,(+( ũ,#).1#ēũ ı Ėũ +ũ'., 1#ũ2 (.ũ(-!+42.ũ!4 -".ũ! ++ Ĕũ "(!#ũ,;2ũ04#ũ#+ũ-#!(.ũ!4 -".ũ' + ē
ũũ
ĸ"(!(#, 1#ũĉĉũıũ#-#1.ũĈĒĹ
.2ũ-#%.!(.2ũ2#ũ/1#2#-3 1;-ũ3#-3 ".1#2ēũ /1.5#!'#ũ+.2ũ,.,#-3.2ũ!.-ũ242ũ'#1ı , -.2ēũ Ėũ (ũ04(#1#2ũ#23 1ũ (#-ũ !.-ũ3.".ũ#+ũ,4-".Ĕũ#2ũ/.104#ũ-.ũ+.ũ#23;2ũ !.-3(%.ũ,(2,.ēũ
Ä Ä†
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
7 Ĺ?Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?
ĹŠ
(1, ĹŠ#+ ,#).1ĹŠ3(#,/.ĹŠ
+ĹŠ/(+.3.ĹŠ +#,;-ĹŠ, 1!¢Ŋ#+ĹŠ,#).1ĹŠ1#%(231.ĹŠ #-ĹŠ+.ĹŠ04#ĹŠ2#ĹŠ++#5 ĹŠ"#ĹŠ/1#3#,/.1 " ĹŠ#-ĹŠ+ ĹŠ /#-ĂŒ+3(, ĹŠ).1- " ĹŠ"#ĹŠ+.2ĹŠ#-31#- ,(#-3.2ĹŠ "#+ĹŠ (1!4(3.ĹŠ"#ĹŠ 3 +4 ĔŊ,(#-31 2ĹŠ04#ĹŠ#+ĹŠ #2/  .+ĹŠ #1- -".ĹŠ +.-2.ĹŠ2#ĹŠ' ĹŠ2(34 ".ĹŠ #-ĹŠ2#%4-".ĹŠ+4% 1ĹŠÄ¸ÄˆÄ–Ä‰ÄˆÄ“Ä?ĈČĚē -ĹŠ+ ĹŠ04#ĹŠ' ĹŠ2(".ĹŠ+ ĹŠ!4 13 ĹŠ8ĹŠ/#-ĂŒ+3(, ĹŠ ).1- " ĹŠ"#ĹŠ#-31#- ,(#-3.2ĹŠ#-ĹŠ .-3,#+¢ĔŊ #+ĹŠÄĽ (2#1ÄŚĹŠ' ĹŠ2.1/1#-"(".ĹŠ ĹŠ+.2ĹŠ/1(-!(/ +#2ĹŠ $ 5.1(3.2ĹŠ!.-ĹŠ24ĹŠĹŠ #1!#"#2ĹŠ Ä“
4#+.ĹŠ"#ĹŠÄĽ +341 ÄŚ
ēŊ 4% ".1#2ĹŠ"#ĹŠ+ ĹŠ2#+#!!(¢-ĹŠ 4 ĹŠÄˆÄ?ĹŠ#-ĹŠ+ ĹŠ$.3.ĹŠ.ÄƒĹŠ!( +ĹŠ/1#5(.ĹŠ +ĹŠ(-(!(.ĹŠ"#+ĹŠ!#13 ,#-Ä“
ĹŠÄˆÄ?
!4 ".1Ŋ8Ŋ .+(5( Ŋ 1#-Ŋ#+Ŋ 4" ,#1(! -.ŊŊ#-Ŋ 3 !4-% ē #-#,.2Ŋ+ Ŋ, "41#9Ŋ -#!#2 1( ĔŊ'#,.2Ŋ )4% ".Ŋ/ 13(".2Ŋ(-3#1Ĺ - !(.- +#2Ŋ8Ŋ#+Ŋ#04(/.Ŋ#23;Ŋ ,48Ŋ (#-Ģē
ĹŠ
ĹŠ ĹŠ
2ĹŠ4-ĹŠ%1 -ĹŠ!.-)4-3.ĔŊ "#2"#ĹŠ#+ĹŠ 104#1.ĹŠ' 2Äą 3 ĹŠ#+ĹŠ"#+ -3#1.ēŊ 1#.ĹŠ 04#ĹŠ+ 2ĹŠÄƒĹŠ%41 2ĹŠ"#ĹŠ#23#ĹŠ #04(/.ĹŠ2.-ĹŠ3.".2Ģē } ĹŠ
ĹŠ ĹŠ ĹŠ
4#231 ĹŠ2#+#!!(¢-ĹŠ /4-3 ĹŠ ĹŠ% - 1ĹŠ#+ĹŠ 3.1-#.ĔŊ!+ 2(ÄƒĹŠ! 1ĹŠ +ĹŠ 4-"( +ĹŠ#ĹŠ(1ĹŠ ĹŠ"#$#-"#1ĹŠ+ ĹŠ ,#" ++ ĹŠ"#ĹŠ.1.ĹŠ#-ĹŠ+.2ĹŠ - Äą ,#1(! -.2Ģē ĹŠ :
^ĹŠ Ä“
;b jehd[e gk[ i[ ^W Yedl[hj_Ze [d kdW YWdj[hW ckdZ_Wb Z[ \kjXeb_i# jWi _d_Y_W W bWi ',0&& Z[ ^eo [d [b [ijWZ_e BW 9eY^W Z[ bW YWf_jWb Z[ 9ejefWn_$ ;b fWhj_Ze _dWk]khWb Z[ bW N?L [Z_Y_ÂŒd Z[b IkZWc[h_YWde IkX '- [d\h[djWh| W ;YkWZeh o 8eb_l_W" Zei [gk_fei gk[ Z[iW# hhebbWd ik WYj_l_ZWZ [d Y_kZWZ[i Yed Wbj_jkZ ikf[h_eh W bei ( c_b +&& c[jhei" feh be gk[ [i[ \WYjeh de _dĂ“ k_h| [d ik h[dZ_c_[dje$ BW i[b[YY_ÂŒd Ăˆjh_YebehÉ gk[ZÂŒ b_ijW fWhW XkiYWh kdW Z[ bWi YkW# jhe fbWpWi fWhW bei @k[]ei FW# dWc[h_YWdei o [b CkdZ_Wb Z[ bW YWj[]eh‡W$ ;b jƒYd_Ye NWl_[h HeZh‡]k[p cWd_\[ijÂŒ gk[ ^Wo kd feYe Z[ Wdi_[ZWZ feh [b Z[Xkj$ Æ;i Wb]e dehcWb" f[he deiejhei" Yece [d# jh[dWZeh[i" cWd[`Wcei gk[ bei Y^_Yei [ijƒd jhWdgk_beiÇ$ :[ijWYÂŒ gk[ bW XWi[ Z[ [ijW i[# b[YY_ÂŒd l_[d[ Z[ `k]Wh bei EZ[ikh
o [b IkZWc[h_YWde IkX '+$ 7YbWhÂŒ gk[ de ^W jecWZe [d Yk[djW W lWh_ei [b[c[djei gk[ Z[XkjWhed [d fh_c[hW YWj[]eh‡W W _d_Y_ei Z[ W‹e fehgk[ Æi[ bb[lW kd fheY[ie Z[ Wb]kdei W‹ei Yed lWh_ei `k]WZeh[i" gk_[d[i [ij|d WYeijkcXhWZei Wb [igk[cW Z[ `k[]e$ :[ijWYÂŒ gk[ j_[d[ [djh[ iki fh_dY_fWb[i Wbj[hdWj_lWi W @eiƒ <hWdY_iYe 9[lWbbei `‘d_eh o W 9Whbei =hk[ie$ 8eb_l_W" feh ik bWZe" Z[ijWYÂŒ W jhWlƒi Z[ ik jƒYd_Ye" :e# k]bWi 9k[d# YW" gk[ i[h| ÆZ_\‡Y_b _d_Y_Wh Yed [b beYWbÉ$ F[i[ W [bbe [b [djh[dWZeh Z[b ĂˆWbj_# fbWdeÉ Z[ijWYÂŒ bW [nf[h_[dY_W Z[ lWh_ei Z[ iki Y^_Yei gk[ ^Wd fWhj_Y_fWZe [d >ebWdZW" 8hWi_b" =h[Y_W o 7h][dj_dW$
#
#
$ $
%
$
Ĺ? Ĺ?
Ĺ?
Ä Ä‡
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
(#% ĹŠ(-3#1_2ĹŠ "#ĹŠ -"#/#-"(#-3#
Ĺ—ĹŠĹŠ
7dj[ [b cWb cec[dje feh [b gk[ WjhWl_[iW [b YkWZhe Z[b ?dZ[f[dZ_[dj[ Z[ 7l[# bbWd[ZW oW ^Wd Yec[dpWZe W iedWh fheXWXb[i decXh[i fWhW h[[cfbWpWh W 7dje# d_e Ce^Wc[Z" jƒYd_Ye Z[b ?dZ[f[dZ_[dj[" kde Z[ [bbei [i HkXƒd :Wh‡e ?di‘W$ F[i[ W [ij[ hkceh" ?di‘W d[]Œ ^WX[h j[d_Ze YkWbgk_[h YedjWYje Yed bei Z_h_][dj[i Z[b YkWZhe Wh][dj_de
. .Ŋ!.-5#-!(¢Ŋ +Ŋ .1#+(
Ĺ—ĹŠĹŠ
Bei Z_h_][dj[i Z[b Ceh[b_W ^Wd gk[ZWZe iWj_i\[Y^ei Yed [b h[dZ_c_[dje ceijhWZe ^WijW bW \[Y^W feh @eWe He`Wi" oW gk[ ^Wd Z[Y_Z_Ze YecfhWh [b fWi[ Z[Ă’ d_j_le Z[b `k]WZeh$ He`Wi [ij| [d [b [gk_fe c[n_YWde W fhƒijWce [d [ijW j[cfehWZW$ ;b Ceh[b_W j_[d[ ^WijW `kd_e fWhW Z[Ă’ d_h i_ YecfhW e de Wb ^|X_b `k]WZeh [YkWjeh_Wde$
(-ĹŠ/(+.3.ĹŠ"#ĹŠ 3 04#
Ĺ—ĹŠĹŠ
?l|d 8eh]^[bbe iWb_ÂŒ b[i_e# dWZe [b fWiWZe c_ƒhYeb[i Wdj[ B_]W Z[ Be`W o i[h| XW`W fWhW [ij[ Zec_d]e" YkWdZe 8WhY[bedW i[ [d\h[djWh| W :[fehj_le Gk_je$ 7b fWh[Y[h ik\h[ kdW ieXh[YWh]W ckiYk# bWh" be gk[ b[ _cf[Z_h| [ijWh fh[i[dj[ [d [b Yej[`e Z[b Ă’ d Z[ i[cWdW$ Ik h[[cfbWpWdj[ i[h‡W FWXbe FWbWY_ei" gk_[d de ^W i_Ze Yedi_Z[hWZe [d bWi ‘b# j_cWi `ehdWZWi feh [b Yk[hfe jƒYd_Ye$
.2ĹŠ#04(/.2ĹŠ#-ĹŠ +9 2 +ĹŠ#04(/.ĹŠÄĽ 34-#1.ÄŚĹŠ8ĹŠ#+ĹŠÄĽ 7/1#2.ĹŠ 4231 +ÄŚĹŠ2#ĹŠ#-$1#-3 -ĹŠ ĹŠ '.8ēŊ #2#ĹŠ ĹŠ+ ĹŠ +#13 ĹŠ"#ĹŠ324- ,(ĔŊ#+ĹŠ/ 13(".ĹŠ"#ĹŠ/1(,#1 ĹŠ ^ 2#ĹŠ!4,/+(1;ĔŊ,(#-31 2ĹŠ04#ĹŠ#+ĹŠ"#ĹŠ1#2#15 2ĹŠ2#ĹŠ242/#-"#Ä“ :ei Z[ bWi ]hWjWi h[l[bWY_ed[i Z[b jehd[e beYWb i[ [d\h[djWd [ij[ Z‡W [d [b [ijWZ_e @eYWo$ CWdjW o :[fehj_le 9k[dYW h_lWb_pWh|d W fWhj_h Z[ bWi ',0&&$ Bei Zei fbWd# j[b[i ^WijW [b cec[dje bb[lWd kdW Xk[dW YWcfW‹W" f[i[ W gk[ de j_[d[d bWi Ăˆ[ijh[bbWiÉ Z[ ejhei [gk_fei$ 7Z[c|i lWb[ h[YehZWh" gk[ bei Zei [gk_fei de `k]Whed [djh[ i[cWdW o bb[]Wd jejWbc[d# j[ Z[iYWdiWZei fWhW [ij[ Yej[`e$ ;b CWdjW [i iƒfj_ce Yed '' kd_ZWZ[i" f[he j_[d[ kd fWhj_Ze f[dZ_[dj[ Wdj[ ;c[b[Y" be gk[ b[ Z[`W Yed fei_X_b_ZWZ[i Z[ kX_YWh# i[ Y[hYW Z[ bei fkdj[hei$ =WXh_[b F[hhed[ [i [b h[ifed# iWXb[ Z[ bW Xk[dW YWcfW‹W Z[b [gk_fe o fWhW [ij[ Yej[`e [if[hW ejhW l[p ikcWh Z[ W jh[i [d YWiW fWhW i[]k_h i_[dZe fhejW]ed_ijW$ F[hhed[ j_[d[ fbWdj[b Yec# fb[je fWhW c[Z_h Wb 9k[dYW o bW Wfk[ijW Z[b [gk_fe [i feh [b `k# ]WZeh Wh][dj_de ;bl_e <h_[Zh_Y^" gk_[d cWhYÂŒ [b ]eb Z[ bW l_Yjeh_W Wdj[ ;b DWY_edWb" [b fWiWZe Ă’ d Z[ i[cWdW$ ;d [b Ăˆ;nfh[ie 7kijhWbÉ jeZe [i YWbcW$ ;b j[hY[h bk]Wh gk[ eYkfWd WYjkWbc[dj[ [i c[`eh h[ifWbZe W bW Xk[dW bWXeh gk[ Ykcfb[d ^WijW [b cec[dje$ Bk_i Ieb[h" jƒYd_Ye ĂˆCehbWYeÉ" j_[d[ kdW ZkZW$ 9Whbei 9Wijhe fWZ[Y[ fheXb[cWi [d bW [ifWb# ZW o i[ [if[hW ik h[Ykf[hWY_ÂŒd$
4(#1#-ĹŠ ! , ( 1ĹŠ #+ĹŠ14, . >eo i[ [d\h[djWh|d bei Zei [gk_# fei gk[ [b W‹e Wdj[h_eh jkl_[hed kd Zk[be Y[hhWZe [d bW I[h_[ 80 [b ?cXWXkhW o B_]W Z[ Be`W$ ;b `k[]e _d_Y_Wh| W bWi '.0&& [d [b [ijWZ_e Eb‡cf_Ye Z[ ?XWhhW$ BW Yedj_dk_ZWZ Z[ M_bied 7hcWi Wb \h[dj[ Z[b ?cXWXkhW [hW kdW _dY[hj_ZkcXh[ o Wo[h i[ YedĂ’ hcÂŒ ik iWb_ZW$ ;ZkWhZe =hWdZW Wikc_h| j[cfehWbc[dj[ [b cWd[`e Z[b [gk_fe ^WijW gk[ bei Z_h[Yj_lei YedjhWj[d kd dk[# le [djh[dWZeh$ 9Whbei I[l_bbW [i bW fh_dY_fWb efY_ÂŒd$ ;b ?cXWXkhW Yed dk[le j_ce# d[b Wif_hW W c[`ehWh ik fei_Y_ÂŒd o W gk[ <hWdab_d IWbWi i[W [b [i# jWdZWhj[ Z[ bW h[cedjWZW$ ;d Ă’ bWi be`WdWi" [d YWcX_e" [i jeZe be YedjhWh_e$ I_ X_[d ied i[njei" ^WijW [b cec[dje ^Wd Ykcfb_Ze kdW Xk[dW YWcfW‹W$ Kd `k]WZeh gk[ h[WfWh[Y[ [i
+(-# !(.-#2ĹŠ 4#+.
ēŊ 1(#"1(!'ĹŠ, 1!¢Ŋ#+ĹŠĂŒ-(!.ĹŠ%.+ĹŠ"#+ĹŠ -3 ĹŠ+ ĹŠ -3#1(.1ĹŠ2#, - ĹŠ -3#ĹŠ +ĹŠ !(.- +Ä“
F[i[ W bW b[i_Œd" Ieb[h jecŒ [d Yk[djW Wb pW]k[he Y[djhWb o [djhŒ [d bW YedleYWjeh_W$ BW ‘d_YW Wki[dY_W eXb_]WZW gk[ j_[d[ [b jƒYd_Ye Wh][dj_de [i bW Z[ =h[]eho =edp|b[p" gk_[d
.1, !(.-#2 1. +#2
(5#1.2ĹŠ Ä“ "(++ ĹŠ Ä“ 4(+4, ĹŠ Ä“ 8 2ĹŠ Ä“ .++#!.ĹŠ Ä“
4- Ŋ ē #% Ŋ ē 5#(1.Ŋ ē -1~04#9Ŋ ē .++#!.Ŋ ē + 2Ŋ ē ē ēŊ ēŊ 1 -"
ĹŠ Ä“
#1-;-"#9ĹŠ Ä“ ¢,#9ĹŠ Ä“ ($4#-3#2ĹŠ Ä“ (9! ~-.ĹŠ Ä“ 4#11¢-ĹŠ Ä“ #ĹŠ #2ĂŒ2ĹŠ Ä“ +(5.ĹŠ Ä“ #1 4"ĹŠ Ä“ +#-!( ĹŠ Ä“ #-.1(.ĹŠ Ä“ (.ĹŠ #- 3. Ä“ ēŊ ēŊ+ĹŠ +#-!(
23 "(.Ä–ĹŠ +~,/(!.ĹŠ"#ĹŠ 11 .1 Ä–ĹŠÄˆÄ‘Ä–Ä‡Ä‡ :1 (31.Ä–ĹŠ .2_ĹŠ 1/(. 1 -2,(2(¢-Ä–ĹŠ #+# , 9.- 2
H[d|d 9Wbb[" jhWi Ykcfb_h [b fWh# j_Ze Z[ ikif[di_ÂŒd$ ;b h[ije Z[b [gk_fe i[h| [b c_ice gk[ `k]ÂŒ Wdj[ [b YkWZhe ĂˆJeh[heÉ$ ;b YkWZhe Z[b ?cXWXkhW bb[]W W [ij[ Yej[`e Yed [b eX`[j_le Z[ cWhYWh [b fkdje Z[ _d_Y_e Z[ bW h[Ykf[hWY_ÂŒd" c_[djhWi gk[ ik h_lWb jhWjWh| Z[ Wfhel[Y^Wh [b cWb cec[dje feh [b gk[ WjhW# l_[iW [b YkWZhe Ăˆ=WhZ[d_eÉ$
iWb_Œ [d [b ‘bj_ce Yej[`e$ ;d ik bk]Wh [ijWh| [b `k]WZeh `kl[d_b @e^d DWhl|[p$ ;b h[ije Z[b fbWdj[b i[h| [b c_ice gk[ ^W l[d_Ze WYjkWdZe [d bei ‘bj_cei fWhj_Zei$
-9 Ŋ ē ¢,#9Ŋ ē
231 Ŋ ē .11#2Ŋ ē .,#1.Ŋ ē :+ 5 Ŋ ē ,.2Ŋ ē -"1 "#Ŋ ē 1(#"1(!'Ŋ ē ,~1#9Ŋ ē #1 Ŋ ē ē ēŊ 1(#+Ŋ #11.-#
ēŊ
1##1ĹŠ Ä“
¢/#9Ŋ ē 231.Ŋ ē
#"#2, Ŋ ē 15;#9Ŋ ē .".8Ŋ ē 1 5.Ŋ ē -"1 "#Ŋ ē .'¢104#9Ŋ ē .5# Ŋ ē 8 + Ŋ ē ē ēŊ 4(2Ŋ .+#1
23 "(.Ä–ĹŠ .! 8 .1 Ä–ĹŠÄˆÄ?Ėćć :1 (31.Ä–ĹŠ (%4#+ĹŠ (% +%. 1 -2,(2(¢-Ä–ĹŠ #+# , 9.- 2
ĹŠ+ ĹŠ#2/#1 ĹŠ "#+ĹŠ1#%1#2.ĹŠ "#+ĹŠÄĽ . .ÄŚ ;b h[]h[ie Z[ 7djed_e LWb[dY_W W bWi YWdY^Wi fWh[Y‡W kd ^[Y^e _dc_d[dj[ Wdj[ bWi b[i_ed[i gk[ Wgk[`Wd W lWh_ei `k]WZeh[i Z[b CWdY^[ij[h Kd_j[Z" f[he [b [djh[dWZeh 7b[n <[h]kied Z[Y_Z_ÂŒ gk[ [if[hWh| kd feYe c|i fWhW ik h[jehde$ Bei Ăˆ:_WXbei He`eiÉ ^Wd ik# \h_Ze [d bei ‘bj_cei Z‡Wi bWi XW`Wi Z[ DWd_ o Z[ @_ Ikd FWha" bei Zei `k[]Wd Z[ [njh[cei [d [b [gk_fe" bW c_icW fei_Y_ÂŒd [d bW gk[ i[ Z[i[cf[‹W LWb[dY_W$ ;b ĂˆJe‹eÉ [ij| jejWbc[dj[ h[Ykf[hWZe Z[ bW b[i_ÂŒd gk[ be Wb[`ÂŒ Z[ bWi YWdY^Wi feh i_[j[ c[i[i" _dYbki_l[ oW fWhj_Y_fÂŒ Yed [b h[ije Z[b [gk_fe o ^W fWhj_Y_fWZe [d lWh_ei fWhj_Zei [d bei [djh[dWc_[djei$ F[i[ W [ije" <[h]kied i[ ceijhÂŒ ZkX_jWj_le ieXh[ [b h[jehde Z[ LWb[dY_W W bW Yed# leYWjeh_W fWhW [b fWhj_Ze Z[ cW‹WdW" Wb[]WdZe gk[ ^W [ijW#
: ēŊ +#-!( Ŋ8 Ŋ#-31#-¢Ŋ!.-Ŋ #+Ŋ/+ -3#+Ŋ3(34+ 1Ŋ#-Ŋ#23 Ŋ2#, - ē
Ze ckY^e j_[cfe \k[hW Z[ bWi YWdY^Wi$ ÆI[ jhWjW Z[ Z[Y_Z_h Yk|d# Ze fed[hb[ [d kd fWhj_Ze h[Wb" fehgk[ kde iWX[ gk[ bW Yk[i# j_ÂŒd Z[b j_[cfe [i _cfehjWdj[$ F[he [d kd Z[j[hc_dWZe ce# c[dje" ^Wo gk[ _dj[djWhbeÇ$ C|i Z[ kde [if[hWXW [b h[# jehde Z[ LWb[dY_W ^eo" YkWdZe ik [gk_fe i[ [d\h[dj[ Wb 7h# i[dWb feh bei YkWhjei Z[ Ă’ dWb Z[ bW 9efW Z[ ?d]bWj[hhW" f[he j[dZh|d gk[ [if[hWh kd feYe c|i" fWhW [b jh_kd\Wb h[]h[ie Z[b ĂˆJe‹eÉ$
-ĹŠ$#23(5 +ĹŠ "#ĹŠ%1 -"#2 ! ,/#.-#2ĹŠ
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
.-ĹŠ1# (" 2ĹŠ!.,/#3#-!( 2ĹŠ2#ĹŠ1# +(9¢Ŋ+ ĹŠ ,  - ĹŠ"#ĹŠ 8#1ĹŠ#+ĹŠ3.1-#.ĹŠ"#ĹŠ3 #*6.-Äą ".ĹŠ(-$ -3(+ĔŊ!.1.- -".ĹŠ ĹŠ2#(2ĹŠ! ,/#.Äą -#2ĹŠ04#ĹŠ2#1;-ĹŠ+ ĹŠ#2/#1 -9 ĹŠ/1.5(-!( +Ä“ <k[hed (&& bei Yecf[j_Zeh[i Z[ bW i[h_[ _d\Wdj_b gk[ fWhj_Y_fWhed Z[djhe Z[b Jehd[e Z[ JW[amed# Ze ?dj[h[iYebWh (&''" [d bW fhe# l_dY_W Z[ Jkd]khW^kW$ BW Yecf[j[dY_W \k[ cko h[‹_# ZW Wdj[ bW YWb_ZWZ Z[ Z[fehj_ijWi gk[ fWhj_Y_fWhed Z[b YWcf[edW# je" fk[i ckY^ei Z[ [bbei \k[hed oW YWcf[ed[i dWY_edWb[i [d ejhWi fWhj_Y_fWY_ed[i$ Bei Z[fehj_ijWi \k[hed WfbWk# Z_Zei feh ik YWfWY_ZWZ ZedZ[ bei ]ebf[i Y[hj[hei b[i ZWXW ^Wi# jW jh[i fkdjei" Z[ WYk[hZe W bW fWhj_Y_fWY_ÂŒd gk[ jkl_[hed$ I_ [b ]ebf[ bb[]WXW ^WijW c|i Whh_XW Z[ bW Y_djkhW" [ie [gk_lW# b‡W W Zei fkdjei" f[he i_ bW fWjW# ZW bb[]WXW W bW YWX[pW" ]WdWXWd
4+3(5 -".ĹŠ#+ "#/.13#ĹŠ#-ĹŠ + ĹŠ!.,4-(" "
jh[i kd_ZWZ[i fWhW bW YbWi_Ă’ YW# Y_ÂŒd Ă’ dWb$ BWi YWj[]eh‡Wi fWhj_Y_fWdj[i [d [ijW Z_iY_fb_dW \k[hed _d\[# h_eh" _dj[hc[Z_W o ikf[h_eh ^WijW bei '' W‹ei$ Bei fWZh[i Z[ \Wc_b_W jWc# X_ƒd \k[hed fWhj[ Z[ [ijW Ă’ [ijW Z[ bWi Whj[i cWhY_Wb[i" gk_[d[i i[ i_dj_[hed eh]kbbeiei Wb l[h W iki f[gk[‹ei YWcf[ed[i ZWh ]k[hhW [d bW Yecf[j[dY_W" Wkd# gk[ \k[hWd WdkbWZei" Yece [b YWie Z[ 7b[n H_YWhZe KbbeW" Z[ - W‹ei" gk[ ik[‹W Yed Yecf[j_h [d ejhei fW‡i[i$ ;djh[ bWi _dij_jkY_ed[i [ZkYW# j_lWi c|i Z[ijWYWZWi [ijkl_[hed ?dikj[Y" 7j[dWi" BW IWbb[" [djh[ ejhWi$
9ed bW _dj[]hWY_ÂŒd Z[ (& [gk_# fei i[ eh]Wd_pÂŒ [b 9Wcf[e# dWje Z[ <‘jXeb CWgk_jW (&''" ZedZ[ [b ‘d_Ye eX`[j_le [i Ykb# j_lWh bW WYj_l_ZWZ Z[fehj_lW o \Wc_b_Wh$ ;b [dYk[djhe j[dZh| WZ[# c|i [b jegk[ Whj‡ij_Ye" fk[i kd i^em Z[ YWdjWdj[i WcXWj[‹ei ^Wh|d ]WbW Z[b [l[dje [b ', Z[ WXh_b [d kd WYje Z[ _dWk]khW# Y_ÂŒd$ ;d ik i[]kdZe W‹e Z[ h[W# b_pWY_ÂŒd [b YWcf[edWje j[dZh| [gk_fei Z[ lWh_Wi pedWi hk# hWb[i" Yed [b Ă’ d Z[ Yh[Wh kdW \Wc_b_W ieY_Wb o Z[fehj_lW$ BW _d_Y_Wj_lW bW jecWhed bei ieY_ei Z[ bW 9eef[hWj_lW Z[ 7^ehhe o 9hƒZ_je CWgk_jW o ik l_i_ÂŒd [i \ec[djWh c|i Z_iY_fb_dWi Z[djhe Z[ lWh_ei jehd[ei fWhj_Y_fWj_lei$
23 "(.ĹŠ #++ 5(23 ĹŠ 3(#-#ĹŠ24ĹŠ2# +_3(! BWi pedWi Z[ [lWYkWY_ÂŒd" Wi‡ Yece bei i[Yjeh[i Z[ fWhgk[e o ]hWZ[h‡ei \k[hed i[‹WbWZei" Yece i[ be ^WX‡W fh[l_ije bk[]e Z[ bW [lWbkWY_ÂŒd gk[ ^_Y_[hWd bei _dif[Yjeh[i Z[ [iY[dWh_ei Z[feh# j_lei Z[ bW <[Z[hWY_ÂŒd ;YkWje# h_WdW Z[ <‘jXeb <;< Wb [ijWZ_e 8[bbWl_ijW$ 7kdgk[ bWi eXi[hlWY_ed[i \k[hed c‡d_cWi [d bW [lWbkW# Y_ÂŒd ^[Y^W feh bei \kdY_edWh_ei" Z[X_ÂŒ jhWXW`Whi[ [d bW i[‹Wbƒj_YW feh be gk[ [b f[hiedWb Z[ bW <[# Z[hWY_ÂŒd :[fehj_lW Z[ Jkd]k# hW^kW <:J " _d_Y_ÂŒ bei jhWXW`ei
Z[ cWhYWY_Œd [d bei i[Yjeh[i ik][h_Zei Z[djhe o \k[hW Z[b [i# jWZ_e$ BW 7ieY_WY_Œd Z[ <‘jXeb Z[ Jkd]khW^kW i[h| bW gk[ h[Wb_Y[ bei jhWXW`ei [d YkWdje W cWdj[# d_c_[dje Z[ bkc_dWh_Wi o Yƒi# f[Z" cWd_\[ijWhed bei leY[hei Z[ bW <:J$ ;ijWi WZ[YkWY_ed[i i[hl_h|d fWhW [b i[]kdZe [dYk[djhe Z[b IkZWc[h_YWde ikX '- gk[ i[ h[Wb_pWh| [d 7cXWje" WZ[c|i Z[ bei Yej[`ei Z[b YWcf[edWje Z[ bW i[h_[ 8$
(++ ĹŠ.+~,/(! ĹŠ +.) ĹŠ ĹŠ+ 2ĹŠ "#+#% !(.-#2
ĹŠ (++ ĹŠ +~,/(! ĹŠĹŠ"#ĹŠ+ ĹŠ #"#1 !(¢-ĹŠ #/.13(5 ĹŠ"#ĹŠ 4-%41 '4 ĹŠ !.%(¢Ŋ ĹŠ!(-!.ĹŠ "#+#% !(.-#2ĹŠ"#ĹŠ5 1(.2ĹŠ/ ~Äą 2#2ĹŠ/ 1 ĹŠ+.ĹŠ04#ĹŠ$4#ĹŠ#+ĹŠ$#23(Äą 5 +ĹŠ"#ĹŠ$.+!+.1ĹŠ!.-ĹŠ,.3(5.ĹŠ"#ĹŠ + 2ĹŠÄƒĹŠ#23 2ĹŠ , 3# 2ēŊ
Ä Ä
ēŊ +Ŋ/1(-!(/ +Ŋ#2!#- 1(.Ŋ"#/.13(5.Ŋ"#Ŋ+ Ŋ/1.5(-!( Ŋ!4,/+#Ŋ3.".2Ŋ+.2Ŋ1#04(2(3.2ē
.-3(-ĂŒ -ĹŠ+ 2 (-2!1(/!(.-#2ĹŠ
ŗŊ Ŋ7‘d i[ h[Y[fjWd bWi _di# Yh_fY_ed[i Z[ bei [gk_fei gk[
(#23 ĹŠ1 ++8ĹŠ 2#ĹŠ/1#-"#ĹŠ #-ĹŠ , 3.
.2ĹŠ,.3.1#2ĹŠ2#ĹŠ#-!(#-"#-ĹŠ #-ĹŠ+ ĹŠ 1(,#1 ĹŠ ;+(" ĹŠ"#ĹŠ ++8ĹŠ"#ĹŠ , 3.ĹŠÄ‰Ä‡ÄˆÄˆÄ”ĹŠ#23#ĹŠ ĉĎĔŊĉÄ?ĹŠ8ŊĉÄ?ĹŠ"#ĹŠ, 19.ĔŊ".-"#ĹŠ + ĹŠ "1#- +(- ĹŠ8ĹŠ+ ĹŠ5#+.!(" "ĹŠ 2#1;-ĹŠ/ 13#ĹŠ"#ĹŠ4- ĹŠ!.,Äą /#3#-!( ĹŠ#731#, ĹŠ#-ĹŠ#23 ĹŠ !(4" "Ä“
gk_[hWd fWhj_Y_fWh Z[b YWc# f[edWje WX_[hje Z[ [YkWleb[o o \kbX_je [d bWi YWj[]eh‡Wi ZWcWi o YWXWbb[hei o ikX '*" [d" gk[ i[ _dWk]khWh| [b '* Z[ cWhpe [d [b Yecfb[`e Z[ bW [iYk[bW >eh_pedj[i$
,/#.- 3.ĹŠ "#ĹŠ +.-!#23.
Ĺ—ĹŠ ĹŠ9ed (+ Yeb[]_ei fWhj_Y_fWd# j[i _d_Y_Wh| [ij[ '* Z[ cWhpe [b 9Wcf[edWje Z[ 8WbedY[ije ?dj[hYeb[]_Wb (&''[d [b Feb_# Z[fehj_le ?l|d LWbb[`e$ J[dZh| kdW ZkhWY_ÂŒd Z[ Zei c[i[i [d bW gk[ i[ Ykcfb_h|d lWh_Wi \[Y^Wi Z[fehj_lWi ^WijW bb[]Wh W bWi Ă’ dWb[i" ZedZ[ i[ YedeY[h| W bW _dij_jkY_ÂŒd ]WdWZehW$
Ä Ä‚
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
(1#ĹŠ242ĹŠ$.3.2ĹŠ#-Ä– 666Ä“+ '.1 Ä“!.,Ä“#!
+ĹŠ(-%1#2.
#"(" 2ĹŠ"#ĹŠ2#%41(" "ĹŠ ., 1#2ĹŠ8ĹŠ,4)#1#2ĹŠ2#1;-ĹŠ1#5(2 ".2ĹŠ#-ĹŠ Ĺ—#+ĹŠ(-%1#2.
2ĹŠ,.!'(+ 2ĹŠ"# #1;-ĹŠ2#1ĹŠ1#5(2 " 2ĹŠ Ĺ— -3#2ĹŠ"#ĹŠ(-%1#2 1
ĹŠ 11 2ĹŠ"#ĹŠ ! 1;ĹŠ2 +"1;-ĹŠ/1(,#1.ĹŠ/.1ĹŠ Ĺ—+ ĹŠ/ 13#ĹŠ.!!("#-3 +ĹŠ"#+ĹŠ#23 "(.
ĹŠ 11 2ĹŠ"#+ĹŠ _!-(!.ĹŠ -(5#12(3 1(.ĹŠ Ĺ—2 +"1;-ĹŠ/.1ĹŠ+ ĹŠ/ 13#ĹŠ.1(#-3 + Ĺ—. .ĹŠ2#ĹŠ/#1,(3(1;ĹŠ5#-3 ĹŠ"#ĹŠ+~04(".ĹŠ#-ĹŠ )#3.2ĹŠ"#ĹŠ5("1(.
+;2(!.ĹŠ , 3#Â .ĹŠ!.,#"(" 2ĹŠ"#ĹŠ2#%41(" "
1( 2Ŋ,#"(" 2Ŋ"#Ŋ2#%41(" "Ŋ /+ -3#¢Ŋ+ Ŋ .+(!~ Ŋ !(.- +Ŋ / 1 Ŋ#+Ŋ/ 13(".Ŋ"#+Ŋ".,(-%.ē C[Z_Wdj[ kdW hk[ZW Z[ fh[diW i[ Z_e W YedeY[h bWi c[Z_ZWi Z[ i[]kh_ZWZ gk[ Z[X[h|d i[h je# cWZWi fWhW [b Yb|i_Ye WcXWj[‹e d‘c[he *)" gk[ i[ h[Wb_pWh| [b Zec_d]e W bWi ''0)& [d [b [ijWZ_e 8[bbWl_ijW$ BWi _dZ_YWY_ed[i \k[hed [c_j_#
ĹŠ
ZWi feh bW fh[i_Z[dY_W Z[ bW 7ie# Y_WY_Œd Z[ <‘jXeb Z[ Jkd]khW^kW o c_[cXhei Z[ bW feb_Y‡W dWY_e# dWb" jWdje fWhW ^_dY^WZW" Yece fWhW f[Wjed[i o YedZkYjeh[i$ 9ed [b Z[ifbWpWc_[dje Z[ '*+ [b[c[djei feb_Y_Wb[i Z[djhe o \k[hW Z[b fh_c[h [iY[dWh_e Z[# fehj_le Z[ bW fhel_dY_W" _d_Y_Wh|d bWi `ehdWZWi Z[ l_]_bWdY_W fWhW [b Yej[`e WcXWj[‹e$ #!.,#-" !(.-#2
:[djhe Z[ bWi f[j_Y_ed[i gk[ i[ ^_Y_[hW W bW ^_dY^WZW" YedijWd bW d[]WY_ÂŒd [d [b _d]h[ie Z[ WijWi Z[ XWdZ[hW c[j|b_YWi e Z[ cWZ[hW " [nj_djeh[i" WhcWi Yehje fkdpWd# j[i e Z[ l_Zh_e" X[X_ZWi WbYe^ÂŒb_# YWi e YkWbgk_[h _dijhkc[dje gk[ Yecfh[dZW f[b_]he fWhW bW _dj[# ]h_ZWZ \‡i_YW Z[ bei Wi_ij[dj[i$ Fhe^_X_Y_ÂŒd Z[ XWdZ[hWi e fWdYWhjWi [d bWi cWbbWi gk[ Yk# Xh[d [b Yedjehde Z[ bW YWdY^W" WZ[c|i Z[ X[d]WbWi$ Fh[\[h_Xb[c[dj[ de Wi_ij_h Yed Wkjei fhef_ei" fWhW [l_jWh heXei e Yed][ij_ÂŒd l[^_YkbWh feh bW \WbjW Z[ [ijWY_edWc_[dje$ #-3 ĹŠ"#ĹŠ .+#3#1~
7Z[c|i Z[ l[dZ[hi[ [d bWi i[Z[i Z[ bei YbkX[i Z[fehj_lei WcXW# j[‹ei" [b Zec_d]e i[ WXh_h| bW Xeb[j[h‡W Z[iZ[ bWi &-0&& Z[b Ze# c_d]e ') Z[ cWhpe o bWi [djhWZWi Yk[djWd Yed kd Z_ifei_j_le Z[ i[]kh_ZWZ [if[Y_Wb fWhW de i[h
ēŊ Ŋ .+(!~ Ŋ !(.- +Ŋ/1#! 43#+ 1;Ŋ+ 2Ŋ(-!("#-!( 2Ŋ"#+Ŋ/ 13(".Ŋ"#+Ŋ ".,(-%.Ŋ#-Ŋ#+Ŋ#23 "(.Ŋ #++ 5(23 ē
\Wbi_Ă’ YWZWi o [d [b YWie Z[ [dYed# jhWh WdecWb‡Wi" i[ iWdY_edWh| W bei fhef_[jWh_ei Z[ bei Xeb[jei$ 7 fWhj_h Z[ bWi &-0)&" feZh|d _d]h[iWh bei Yec[hY_Wdj[i" gk[ Z[X[h|d kX_YWhi[ \k[hW Z[ bWi pe# dWi Z[ [lWYkWY_ÂŒd o [d iWb_ZWi Z[ [c[h][dY_W$
7 fWhj_h Z[ bWi &.0&& feZh|d _d]h[iWh bei WĂ’ Y_edWZei Yed iki h[if[Yj_lWi XWhhWi$ FWhW [b JƒYd_Ye Kd_l[hi_jWh_e [ijWh| Z_ifed_Xb[ bW XWj[W o fh[# \[h[dY_W eh_[djWb o fWhW CWYWh|" bW XWj[W o fh[\[h[dY_W eYY_Z[djWb$
/,/'*
-8(*26 0(&$1,&26 02'(5126 < ',9(57,'26
/,./&
$0%$72
/$7$&81*$
$0%$72 5,2%$0%$
FSLFR #KRWPDLO FRP
7 Ä Ä‚Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ä Äƒ
/#1 3(5.2ĹŠ ).ĹŠ!.-31.+
Ĺ—ĹŠ ĹŠĹŠBW @[\WjkhW Z[ 9edjheb Z[ Jh|di_je o I[]kh_ZWZ L_Wb
, ŋ ()$ )ŋ*),ŋ*) )ŋ ' . ŋ ŋ-/ŋ"#$)ŋ ŋ!)&* ēŊ .2Ŋ%#-" 1,#2Ŋ(,/("(#1.-Ŋ#+Ŋ 143 +Ŋ! 23(%.Ŋ"#+Ŋ/ "1#Ŋ' !( Ŋ#+Ŋ,#-.1Ŋ8Ŋ+.Ŋ /1#'#-"(#1.-Ŋ"#Ŋ(-,#"( 3.Ŋ/ 1 Ŋ#5(3 1Ŋ!.,/+(! !(.-#2ē
+ĹŠ,#-.1ĹŠ"#ĹŠ#" "ĹŠ 2#ĹŠ1#!4/#1 ĹŠ"#ĹŠ+.2ĹŠ %.+/#2ĹŠ8ĹŠ1#!( #ĹŠ 31 3 ,(#-3.ĹŠ/2(Äą !.+¢%(!.ĹŠ "#!4 ".Ä“ Kd ^ecXh[ _hWYkdZe feh feYe Z[`W _dYediY_[dj[ ĂˆW fkdj[ ]ebf[iÉ W ik fhef_e ^_`e Z[ Wf[dWi eY^e W‹ei" fei_Xb[c[dj[ fehgk[ [b c[deh ^WXh‡W iWYWZe cWbWi YWb_# Ă’YWY_ed[i$ ;b cWbjhWje eYkhh_ÂŒ W l_ijW Z[ jeZW bW ][dj[ gk[ Y_hYkbW# XW feh bW Wl[d_ZW 8eb_lWh_WdW o YWbb[ CWhY^[dW" i[Yjeh Z[b 9eb_i[e 9[hhWZe Z[ bei :[feh# j[i 7cXWje" [b `k[l[i W [ie Z[ bWi '*0&+$ I[]‘d CWhj^W 9[Y_b_W
D" j[ij_]e" [b ^ecXh[ _Z[dj_Ă’YWZe Yece 9Whbei D" ^WXh‡W ik`[jWZe W ik ^_`e Z[ bW Y^ecfW Z[b kd_\eh# c[ o b[ fhef_dÂŒ lWh_ei fk‹[j[i o fkdjWf_ƒi" c_[djhWi be j[d‡W WYehhWbWZe YedjhW [b f_ie$ ;b c[# deh WZebeh_Ze feh bei ]ebf[i ^W# Xh‡W ]h_jWZe feh WokZW W kdWi f[h# iedWi gk[ jhWdi_jWXWd feh [b bk]Wh" [i feh [bbe gk[ Z[Y_Z_[hed bbWcWh W bW Feb_Y‡W fWhW gk[ i[Wd [bbei gk_[d[i Z[j[d]Wd Wb W]h[ieh o [b [nW][hWZe [ _hWYkdZe YWij_]e$ Bei fh_c[hei [d bb[]Wh \k[hed bei c_[cXhei Z[ bW Kd_ZWZ Z[ Feb_Y‡W 9eckd_jWh_W KF9 " Z[b [ijWZ_e 8[bbWl_ijW" gk_[d[i ^WXh‡Wd d[k# jhWb_pWZe [b YWij_]e" Wfh[^[dZ_[d# Ze Wb ^ecXh[ gk[ [ijWXW [cXhk# j[Y_Ze feh bW _hW o de Wi_c_bWXW be gk[ ^WX‡W fheleYWZe [d YedjhW Z[ ik f[gk[‹e$
!!#2.1(.2ĹŠ1. ".2
Ĺ—ĹŠ ĹŠĹŠKd ik`[je de _Z[dj_Ă’YW# Ze \ehpÂŒ bW i[]kh_ZWZ Z[ bW fk[hjW Z[bWdj[hW Z[h[Y^W Z[b l[^‡Ykbe CWpZW Yed fbWYW J;:#+)," Wo[h" o i[ bb[lÂŒ hWZ_e o Z_ijh_Xk_Zeh" W [ie Z[ bWi '(0*&$ I[]‘d @kWd <h[_h[ LWYW" fhef_[jWh_e" [b Wkjecejeh f[hcWd[Y‡W [ijWY_edWZe [d bWi YWbb[i 9k[dYW o CWhj‡d[p" ZedZ[ be ^WXh‡W Z[`WZe feh c|i Z[ *+ c_dkjei$ ;b f[h`k# Z_YWZe Z[dkdY_Wh| W bW Feb_Y‡W [b ^[Y^e$ ēŊ ĹŠ (1#!!(¢-ĹŠ !(.- +ĹŠ"#ĹŠ .+(!~ ĹŠ 2/#!( +(9 " ĹŠ#-ĹŠ ( .2ĔŊ ( 2ĹŠ8ĹŠ ".Äą +#2!#-3#2Ŋĸ (- /#-ĚĔŊ 1(-" 1;ĹŠ 84" ĹŠ#2/#!( +(9 " ĹŠ +ĹŠ %1#"(".ĔŊ+4#%.ĹŠĹŠ04#ĹŠ#23#ĹŠ 2#ĹŠ1#!4/#1#ĹŠ"#ĹŠĹŠ%.+/#2ĹŠ8ĹŠ,.1#3.-#2Ä“
&& Ĺ‹' 6(# Ĺ‹*,)0) šŋ Ĺ‹., * Ĺ‹ Ĺ‹')(. ˜ Ĺ‹ /(Ĺ‹ / ,. -., && '# (.) )(. ,6Ĺ‹ )(Ĺ‹, -!/ , ) ;b l[^‡Ykbe CWpZW )() Yed fbWYW F<>#,//" ikfk[ijWc[dj[ ^WXh‡W ik\h_Ze kdW \WbbW c[Y|d_YW [d bW Z_h[YY_ÂŒd" feh be YkWb \k[ W fWhWh [d kdW fWh[Z Z[ j_[hhW" Wo[h" W [ie Z[ bWi ')0*&" W (&& c[jhei Wdj[i Z[ bW fWhhegk_W J[hh[ceje$ I[]‘d [b YedZkYjeh decXh[i de _Z[dj_Ă’YWZei " [b i_ij[cW Z[ Z_h[YY_ÂŒd Z[b Wkje i[ WjWiYÂŒ" [ie ^WXh‡W fheleYWZe gk[ ƒij[ i[ Z_# h_`W YedjhW bW fWh[Z Z[ j_[hhW" fhe# ZkY_ƒdZei[ Wi‡ [b WYY_Z[dj[$ F[i[ W gk[ de eYkhh_ÂŒ dWZW Yed iki eYkfWdj[i" kd fWh Z[ Wkjece#
ēŊ .1 ".1#2Ŋ"#+Ŋ 2#!3.1Ŋ 84" 1.-Ŋ Ŋ ) 1Ŋ#+Ŋ 43.Ŋ (,/ !3 ".ēē
jeh[i gk[ i[ [ijWY_edWhed fWhW eXi[hlWh [b WYY_Z[dj[ Y^eYWhed" YWkiWdZe ZW‹ei cWj[h_Wb[i [d bei YWhhei$
Z[ Jkd]khW^kW" ZkhWdj[ [b \[h_WZe Z[ YWhdWlWb Z[b Ă’d Z[ i[cWdW" [`[YkjÂŒ Z_\[h[dj[i ef[hWj_lei fh[l[dj_lei Z[ Yedjheb Z[ jh|di_je [d bWi fh_dY_fWb[i l‡Wi Z[ WYY[ie o iWb_ZW W [ijW `kh_iZ_YY_ÂŒd" Yed [b fhefÂŒi_je Z[ Xh_dZWh i[]kh_ZWZ W bei l_W`[hei" Yece jWcX_ƒd [d Z_\[h[dj[i bk]Wh[i Z[djhe Z[ bW khX[$ BW kd_ZWZ feb_Y_Wb [\[YjkÂŒ lWh_ei ef[hWj_# lei Z[ Yedjheb Z[ l[beY_ZWZ" l_Zh_ei febWh_pWZei" kie Z[b Y_djkhÂŒd Z[ i[]kh_ZWZ" WbYej[ij" d[kc|j_Yei" fbWYWi de h[]bWc[djWh_Wi1 Z[ _]kWb \ehcW i[ kX_YWhed YWhfWi Z[ Yedjheb [d bWi YkWjhei l‡Wi Z[ bW Y_kZWZ Z[ 7cXWje$
'( c_[cXhei Z[ bW Feb_Y‡W [ijWh|d Z_if[hiWZei ^eo" ZkhWdj[ jeZe [b jhWo[Yje Z[ bW ĂˆFh_c[hW 9ecf[# j[dY_W Z[ Jh[fWZW Z[ CedjW‹W *n*É" eh]Wd_pWZW feh [b Jkd]k# hW^kW 7kjecÂŒl_b 9bkX J79 $ Bei kd_\ehcWZei j_[d[d ÂŒhZ[# d[i Z[ Xh_dZWh i[]kh_ZWZ W bei WĂ’# Y_edWZei o jh_fkbWY_ed[i" Z[iZ[ bW FbWpW 9[djhWb [d Gk_iWf_dY^W ^WijW [b i[Yjeh FkYWh|" W fWhj_h Z[ bWi '&0&&$ 7Z[c|i" i[ Wi_]dÂŒ kdW fWjhk# bbW o kd WkjeX‘i Yece [b[c[djei Z[ jhWdifehj[ o fWjhkbbW`[ Z[ bei
W][dj[i Z[b ehZ[d$ Bei eĂ’Y_Wb[i [ijWh|d Wj[djei W YkWbgk_[h [l[dje fWhW Xh_dZWh WokZW o Wfeoe fhe\[i_edWb i_ ƒij[ Wc[h_jW$ C_[djhWi gk[ [b Yedjheb Z[b jh|di_je \ehcWh| fWhj[ Z[b ef[# hWj_le feb_Y_Wb Wdj[i o Z[ifkƒi Z[b Z[iWhhebbe Z[b [l[dje Z[ l[# beY_ZWZ$ 7djed_e Jh_Y[hh_" `[\[ Z[ 9ed# jheb Z[ Jh|di_je Z[ Jkd]khW^kW" [ijWh| Wb \h[dj[ Z[ bei ef[hWj_lei eh]Wd_pWZei [d X[d[Ă’Y_e Z[b Z[# fehj[ [d bW Y_kZWZ$
11 -!'#ĹŠ"#ĹŠ! 13#1
Ĺ—ĹŠ ĹŠ:ei Z[b_dYk[dj[i de _Z[dj_# Ă’YWZei WhhWdY^Whed bW YWhj[hW Z[ fhef_[ZWZ Z[ BWkhW ;if‡d" Z[ +) W‹ei" Wo[h [d bWi YWbb[i Jec|i I[l_bbW o @kWd 8[d_]de L[bW" W [ie Z[ bWi ''0*+$ I[]‘d bW f[hiedW W\[YjWZW" bei cWb^[Y^eh[i be]hWhed bb[lWhi[ ZeYkc[djei f[hie# dWb[i" (-& ZÂŒbWh[i [d [\[Yj_le" Zei Y^[gk[i feh YeXhWh Z[ *-& ZÂŒbWh[i YWZW kde o kd `k[]e Z[ bbWl[i Z[ ik d[]eY_e o Zec_Y_b_e$
āą
7 ŏŏāĂŏŏ ŏŏ ŏ ŏĂĀāā
ŏ +. ŏ
8KI9E ;CFB;E 2(!¢+.% ũ -"4231( +ēũ -$ēũ ĉČĈĈČďćũ ĵũ ćđČĈĐĈďĒĐ
-%#-(#1 ũ #-ũ $(- -9 2ēũ (-$.1,#2ũ ĉđĐČĉćĈĵćđĐđĈďĎĉĉ
'.$#1ũ /1.$#2(.- +Ĕũ ! 3#%.1~ ũ ēũ -$ēũ ćđĐĊČĐČĎĉ
ũ #-3 2ũ8ũ!. 1 -9 2ēũ -$ēũćĒĎćĉČćďĉ
ũ 2(!¢+.% ũ -"4231( +ēũũ -$ēũćĒĎČĉĉĈĊĊ
-%#-(#1 ũ #-ũ .-3 (+(" "ũ 8ũ 4"(3.1~ ēũ -$ēũćĒđĎĒĐĈđď
'.$#1ũ/1.$#2(.- +ēũ(/.ũ ũũ!.-ũ! ,(¢-ũ"#ũ Ďũ3.-#+ " 2ē -$ĖũćĒĐĈĊĉďĈČ
-%#-(#1 ũ#-ũ 1% -(9 !(¢-ũ"#ũ ,/1#2 2ēũ -$ēũĉČČĎĊĎĎ
'.$#1ũ /1.$#2(.- +ēũ (/.ũ ũ -$.1,#2Ėũ ĉČĉĉĒĐćĵćđĐĊČĉĈĐď '.$#1ũ/1.$#2(.- +Ėũ -$.1,#2ĖũĉČĉĐĎĊđ
GIF=<JFI<J -"8ũ . (-2.-ēũ -%+_2ēćĒĒĐćĒćĊĒ
1.$#2.1ũ
ũ 2(!¢+.% ũ -"4231( +ēũ -$ēũ ĉČĉĈĊČĈũ ĵũ ćđČďĈĎĊďćũ
@E><E@<IFJ
1.$#2.1ũ"#ũ,Ì2(! ēũ _!-(!.ũ#-ũ .!#-!( ũ 42(! +ēũ -$ēũĉČĈđĐđđũĵũćđČďĒĈćĐĊ
-%#-(#1 ũ#-ũ 1*#3(-%ēũ -$ēũĉČĈĈďČĊũĵũ ćĒđđĉććĉć
ũ -%#-(#1 ũ#-ũ ",(-(231 !(¢-ũ"#ũ ,/1#ı 2 2ēũ -$ēũćđĐĈđĈČĐĒ
154+ 1( ēũ ćĒĉĎćĈĊďĐũ
-%#-(#1 ũ #-ũ 1% -(9 !(¢-ũ "#ũ ,/1#ı 2 2ēũ -$ĖũćđĐĊđĐĒĐďē
-%#-(#1 ũ#-ũ +(,#-3.2ēũ -$ēũćđćĐĎĎĉĎČ
'.$#1ũ/1.$#2(.- +ũĵũ #%41(" "ũ -"4231( +Ėũ -$ēĖũćĊĉđĎĈđďđıćĒĉĎĒćĈđđ
ũ ēũ ēũ ēũ ćđČĎĈĊĐćĉũĵũĉđĉĐČČĉ
'.$#1ũ /1.$#2(.- +ēũ ĉđĎďČćĒũ ĵũ ćĒĎĎćďďĐđ
-%#-(#1.ũ #-ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ćđČČĈČĉćĈũĵũćĒĐĊćĈĊĈć
'.$#1ũ /1.$#2(.- +Ĕũ +(!#-!( ũ 3(/.ũ ġ Ģēũ #-%.ũ ! ,(¢-ũ 84-" (ũ 41%.-ũ Ĕũ ĈĒĒČĔũ ! / !(" "ũ Ċũ 3.-#+ " 2ēũ 3#+_$.-.Ėũ ćĒĒĉćĊĐĎđũıũĉĎĉĉđĊđ
-$ēũ
ćĒđĊĐĊćČďũ
ĵũ
154+ 1( ēũ -$ēũćđČČČćĒĊđ 1.$#2.1 ũ 154+ 1( ēũ -$ēũ ćĒĎđĊĎĈĒĊũ ĵũ ćĒđĉĈĒĎČČũ 154+ 1( ēũ -$ēũĉđĎĈČĐĉũĵũćđĐđĈďĊĈĊ
-%#-(#1.ũ #-ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũĉđĎĊĐĊĒũĵũćđČďćĐđĈďũ -%#-(#1.ũ#-ũ ,/1#2 2ēũ -$ēũĉČĈČĉĊďũĵũ ćđĐđĈďđďćũ -%ēũ #-ũ (23#, 2ēũ #+ũ ćđĈćĈĎđĊďĵũ ĉČĈďĈĐĉ
:FEK8;FI<J
-%#-(#1.ũ (5(+ēũ -$ēũćĒĉĐćĒĐďĈ -%#-(#1.ũ#-ũ (23#, 2ēũ -$ēũćĒđĊĉĉćđĎ
8;D@E@JKI8K@MFJ
.3.1(9 ".ũ !.,.ũ ,#-2 )#1.ũ 8ũ / /#+#2ũ +ũ "~ ũ ,.3.ũ /1./( ēũ ćĒĉĒđČĐĈćēũ (;-ũ %4(11#
%1#2 " ũ 1*#3(-%ũ8ũ #23(¢-ũ"#ũ #%.ı !(.2ēũ -$ēũćĒđĉĊĊĈĉĎ
3#-!(¢-ũ +ũ !+(#-3#ēũ -$ēũ ĉĐĎČĎďďũ ĵũ ćĒĎďĐĎĐĎĒũ
#%.!(.2ēũ -$ēũćđĐČćĊđĊČ
3#-!(¢-ũ +ũ !+(#-3#Ĕũ , 1*#3(-%Ĕũ 5#-3 2ēũ -$ēũćđĊĈĉĎĉĎćũ 4~ ũ 341~23(! Ĕũ /1.$#2.1 ũ "#ũ (+.2.$~ ēũ -$ēũćĒćĊĈĒĐČćũ
_!-(!.ũ #-ũ (23#, 2ēũ -$ēũ ćđĐćĎĊďĊćũ ĵũĉđĉĈďđČ
1#-2(23 Ĕũ#7/#1(#-!( ũ#-ũ(,/1#-3 2ēũ -$ēũ ćĒĒĒďČđĈďũĵũĉđĉĉďĐĒũ
ũ (!#-!( " ũ#-ũ .,4-(! !(¢-ũ .!( +ēũ -$ēũ ćĒĎćĉĒĒďđ
'.$#1ũ /1.$#2(.- +ēũ -$ēũ ćĊĉũ ČĈĉĊćđũ ĵũ ćđČĈČđđđĊ
-$#1,#1 ēũ ćđČĎČĐČĈĒ
ũ !'(++#1ũ _!-(!.ēũ +#!31(!(" "ũ -"4231( +ēũ
-$ēũ
ćĒĐĎďĉĎĒćũ
ĵũ
'.$#1ũ /1.$#2(.- +ēũ -$ēĖũ ćđĉćČđĐĊĉũũ ĸćĊĹĉČĈĊČĉĊũ
ũ .5#-ũ !'(++#1ũ #-ũ .-3 (+(" "ũ !.-ũ
47(+( 1ũ!.-3 +#ũ -$ĖćĒĒĒČĒćĎĐ
-%#-(#1 ũ .,#1!( +ēũ -$ćđĐđĊĈĊđĒ
#!1#3 1( ũ )#!43(5 ēũ -$ēũ đĊĉČĊĊđČũ
ũ '.$#1ũ /1.$#2(.- +Ĕũ ũ !.-ũ ! ,(¢-ũ
ũ 4"(3.1ũ !.-ũ ,/+( ũ #7/#1(#-!( ēũ -$ēũ ĉČĈĐĈĉĎũĵũćĒĉĒĊĐČČČũ
%1#2 ".ũ"#ũ -%#-(#1~ ũ#-ũ +(,#-3.2ēũ -$ēũ ćĒđĊćđĒĈďũ
#!1#3 1( ēũ -$ēũćĒĎćĉđĐĉĊ
ćđĒćĎĎđćČ
13 ēũ !'(++#1ũ#-ũ(-$.1, 3(! ũ 4#- ũ/1#ı 2#-!( ēũĉđĎćČČĐ
-%#-(#1 ũ #-ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũĉĎĉćĉĈćũĵũćĒĉĐĉćĉČĒ
-%#-(#1 ũ#-ũ ,/1#2 2ēũ -$ēũćđĐĒđĉĐĊĐũ
%1#2 " ũ (#-!( 2ũ ",(-(231 3(5 2ēũ -$ēũ ćđĊĉďČćĉć
'.$#1ũ /1.$#2(.- +Ĕũ ! 3#%.1~ ũ ēũ -$ēũ ćĒđćĐćĉČČũ
ũ 11#%+.ũ "#ũ !.,/43 ".1 2ēũ -$ēũ ćĒĎđćČČđď
-%#-(#1.ũ !.,#1!( +ēũ ĉČĎĉĒĎćũ ĵũ ćĒĎĒđĉĒĒĒ
/ !(3 ".1ũ#-ũ ",(-(231 !(¢-ũ Ì +(! ēũ -$ēũćĒČĎĊćČćđ
'.$#1ũ/1.$#2(.- +ũ3(/.ũġ Ģũ/ 1 ũ3 7(2ũ8ũ ! ,(.-#2ũ"#ũĎũ3.-#+ " 2ēũ -$ĖũĉČććđĎĎũ ıũćĒĎĐĒĒĈČĊũũũũũũ
ũ #-2 )#1.ũ .3.1(23 ēũ -$ēũĉČĈĒĉĊĐ
ũ -%#-(#1.ũ "#ũ ,/1#2 2ēũ -$ēũ ĉČČĉĉĐďũ ĵũćđĊĉĒĒĐĉĐ
47(+( 1ũ ",(-(231 3(5 Ĕũ 5#-3 2Ĕũ 3#-ı !(¢-ũ +ũ !+(#-3#ēũ -$ēũ ćđČĐČČĐćČũ ĵũ ćđĊĈđĐđČĊũ
.-3 ".1 ēũ -$ēũćđĐććđďĐďũ -%#-(#1 ũ #-ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũćĒććđĐĒďĎũ 1 ēũ -ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũ ĉČĈđĎĉĈũĵũćĒđĒĒćďĒĊ %1#2 " ũ "#ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũĉČĈĈĐĉĈũĵũćĒĎĉĎććĎć
%1#2 ".ũ "#ũ -%#-(#1~ ũ +#!31¢-(! ũ #-ũ .,4-(! !(.-#2ēũ -$ēũ ĉđĉĎďĐĈũ ĵũ ćđČĐđĎćĐĎũ -%#-(#1 ũ .,#1!( +ēũ -$ēũ ĉđČďćĉČũ ĵũ ćĒďđćĉĐďĈ
#!1#3 1( ũ #!#/!(.-(23 ēũ 47(+( 1ũ!.-ı 3 +#ēũ -$ēũćđČĎďďĈĒďũ
<:FEFD@JK8J !.-.,(23 ēũ -$ēũćđČČĒĊĒćĈũĵũĉĎĉĈđČć
'.$#1ũ2/.13, -ēũ -$ēũćđĐďďĉĊĊĊũũũũũ #!#2(3.ũ#,/+#.ũ2.8ũ!'.$#1ũ/1.$#2(.- +ũ !.-ũ +(!#-!( ũ 3(/.ũ ġ Ģũ + , 1ũ +ũ 3#+$ēĖũ ćĒĒĎĉĈđĒĐũĵũćĒĒĎĉĈđĒĐ '.$#1ũ /1.$#2(.- +ũ ćĒĒćĈĉĊĈć
42! ũ 31 ).ũ
:FEJKIL::@FE #ũ1# +(9 ũ31 ).2ũ"#ũ/(-341 ũ#-ũ! 2 2Ĕũũ #+$ĖũćĒĒćĈĉĊĈć
+(!#-!( ũ3(/.ũ Ĕũ +.-#1.ũũćđČďďđďĎĒ
ũ #!#/!(.-(23 ũĵũ 2(23#-3#ũ .-3 +#ēũ -$ēũ ćđĐĊđďĈĉĐ 4/#15(2.1ũ"#ũ ."#% ēũ -$ēĖũćĒĉũĒĎũĎđũćĉũ IJũĉũČĉũČČũĉĎũũũ 84" -3#ũ"#ũ.$(!(- ũĵũ 47(+( 1ũ"#ũ#-$#1ı ,#1~ ēũ -$.1,#2ĖũćĒđĉćĉĈĈĉ .,4-(! ".1ũ 2.!( +ũ ĵũ #+ !(.- ".1ũ Ì +(!.ũ ĵũ #231.ũ "#ũ #1#,.-( 2ēũ -$ēũ ćđČćĈĐČďĒ
%1#2 ".ũ "#ũ -%#-(#1~ ũ +#!31¢-(! ũ #-ũ .,4-(! !(.-#2ēũ -$ēũ ĉđĉĎďĐĈũ ĵũ ćđČĐđĎćĐĎũ
%1#2 " ũ #-ũ -! ũ 8ũ (- -9 2ēũ -$ēũ ćĒĉĎĐććĈČ
-%ēũ #!;-(!.ēũ 2/#!( +(9 ".ũ #-ũ ",(ı
,/+# " ũ".,_23(! ēũ -$ēũćĒćĈĊćĊćĒ
#ũ1# +(9 ũ31 ).2ũ"#ũ/(-341 ũ#-ũ! 2 2Ĕũũ #+$ĖũćđĎĉćČĈĐĒ
,/+# " ũ".,_23(! ēũ -$ēũćĒđđĒČďćĐ
+ (+Ĕũ 1, ".1ũ"#ũ3 +.-#2
ũ .,4-(! ".1 ũ .!( +ēũ -$ēũĉđĉĈĊĒĊ
-(231 !(¢-ũ "#ũ 1."4!!(¢-Ĕũ ēũ + , 1ũ +ũ ĉČĎĈĈĊČũĵũćĒĎđĎĎĐĈĉ
<DGC<F ;FD<JK@:F
%1#2 ".ũ 1*#3(-%ũ8ũ #23(¢-ũ"#ũ #%.ı !(.2ēũ #+$ĖũĉđĎćĈĊĐĵćĒđĊđĉććČ #-2 )#1.ēũ -$ēũĉĐďĉĊđĉ
ĵũ
-%#-(#1.ũ #-ũ #1! ".3#!-( ēũ -$ēũ #+$ēũ ĉđĎĒĊĒĈũĵũćĒČČćĎđČČũĵũćđĐđĈĐĉđĉ
,/+# " ũ ".,_23(! ēũ #+$ĖćđĒĒćĎĒČĉũ ĵćđĒĒĊĊĊĉČ
#!-¢+.%.ũ (5(+ũ 8ũ ( +ēũ -$Ėũ ĉČĉĉĒĐćĵũ ćđĐĊČĉĈĐď
..1"(- ".1 ũ ćĊĉĉĐČćđĈĐ
-%#-(#1 ũ"#ũ ,/1#2 2ēũ .-3 ".1 ēũ -$ēũ ĉČĎććČĐũĵũćĒĐĒČććĉđũ
-%#-(#1 ũ "#ũ ,/1#2 2ēũ -$ēũ #+$ēũ ćđďđĊĈĎĒũĵũćĒĈććďďĉď
,/+# " ũ".,_23(! ēũ #+$ĖćĒćĐĐďĈĐČĵć đĒĒćĎĒČĉĵćđĒĒĊĊĊĉČ
ũ _!-(! ũ 4/#1(.1ũ #-ũ .,/43 !(¢-ũ #ũ (-$.1,;3(! ēũ -$ēũćđćĊĎďĉĎĐ
%1#2 " ũ"#ũ ",(-(231 !(¢-ēũ .-3 ".ı 1 ēũ -$ēũĉČĈĎďĒďũĵũćĒĒĐĐĎđĐď
-%#-(#1 ũ .,#1!( +Ėũ -$ēũćĒđĉĐĐďĐĈ
(,/(#9 ũ "#ũ ! 2 Ĕũ .$(!(- 2ēũ -$ēũ ćđďĐďďĐĈćũĵũĉČĈĎČĎĊũ
13#2 -.ũ! +($(! ".ũ#-ũ +4,(-(.ũ8ũ5("1(.ēũ 1(! ,.2ũ /4#13 2Ĕũ 5#-3 - 2Ĕũ 5(31(- 2Ĕũ #3!ēũ #15(!(.ũ "#ũ , -3#-(,(#-3.ēũ -$ēũ ćĒĐĎČĈđĐĎ
.-3 ".1 ēũ ćĒĎČćĊĈĎđ
.-3 ".1 ēũ ćĒđĎĒďćĒď
-$ēũ
ĉČĉĎĒďćũ
-$ēũ
ĉČĉďđĊđũ
ĵũ
ũ -%#-(#1.ũ #-ũ (23#, 2ēũ -$.1,#2Ėũ ĉČĎĉĐĎĎũĵũćđĐČĒĊĉČĉ -%#-(#1.ũ #-ũ +(,#-3.2ēũ -$.1,#2Ėũ ćĒđĈĐĊđĐĉ
47(+( 1ũ!.-3 +#ēũ -$ēũćđĐĒĉĊďĐĎ
89F>8;FJ
ũ -%#-(#1 ũ .,#1!( +ēũ -$ēũ ĉđĉĐČČĉũ ĵũ ćđČĎĈĊĐćĉ
.% ".ēũ -$ēũĉđĉđďĒČ 234"( -3#ũ "#ũ 41(2/14"#-!( Ĕũ 2_/3(,.ũ 2#,#231#ēũ -$ēũćđćĐČďĒďĈ
-%#-(#1.ũ"#ũ ,/1#2 2ēũ -$ēũćĒđĐĎĉĐćĐ
.% " ēũ -$ēũĉČĉČćĎĒũĵũćĒĎČćĒĐĐĒ
-%#-(#1.ũ #-ũ (23#, 2ēũ -$ēũ ĉđĎĊĒĉĊũ ĵũ ćĒđĎďČđČĈ
%1#2 " ũ "#ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ćĒĎĎĒćĎđđ
-%#-(#1 ũ #-ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ĉČĎććĎćũĵũćĒĎĐĈČĒđď
234"( -3#ũ #ũ #1#!'.ēũ -$ēũćĒĒćĎĊĊđĐ
-%#-(#1 ũ #-ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ćđĐđĈďĎĉĉ
.% ".ũ (-$.1,#2Ėũ ćđĒĒĉČďĎĈũ ĵũ ĉđĐĈćĈĎ
GJ@:FCF>FJ 2(!¢+.%.ēũ -$ēũćđĐďĒĎďČĊ 2(!¢+.% ũ +~-(! ēũ -$ēũ ĉČĐďĈĎĎũ ĵũ ćĒĈďĈĈĎćĎũ 2(!¢+.%.ũ -"4231( +ēũ -$ēũćđĐČČďĎĒĊũ
-%#-(#1.ũ .,#1!( +ēũ -$ēũ ĉČĎĉĒĎćũ ĵũ ćĒĎĒđĊćć -%#-(#1.ũ #-ũ ,/1#2 2ēũ -$ēũ ĉČĈĎĊĒćũ ĵũ ćđćďĈĈćĒć -%#-(#1.ũ .,#1!( +ı '.$#1ũ/1.$#2(.- +ēũ -$ēũćđČČĈČđĎć
154+ 1( ēũ -$ēũćĒĉĎĐććĈČ
%1#2 ".ũ -%#-(#1( ũ (5(+ũ -$ēĖũćĒĎĉďĒĈČĐũ ıćĒĎćČĊĊĒĊ
2(!¢+.%.ũ -"4231( +ēũ -$.1,#2ĖũĉđČďĈđČũ ĵũćĒĉĐđĊĉĎČ
-%#-(#1 ũ #-ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ćĒĎĐĈČĒđďũĵũĉČĎććĎć
234"( -3#ũ ćĒđććĒĈĎď
ũ -%#-(#1 ũ .,#1!( +Ėũ -$ēũũĉđćĎČĎĈ
"#ũ
2(!.+.%~ ēũ
-$ēũ
ũ -%#-(#1.ũ#-ũ"(2# .ũ -"4231( +ēũ(-$.1,#2ũ ĉČĈĉĈĈđĵćđĐćĉĎćĎĒ
11#%+.ũ! 2 2Ĕũ"#/ 13 ,#-3.2ũ4ũ.$(!(- 2Ĕũ 84" ũ8ũ!4(" ".ũ ũ "4+3.2ũ, 8.1#2ēũ -$Ėũ ćĒđĐĎĉđĈď
+#!31(!(23 ēũ -$ēũćĒĉĎđćĊćĒũ !'.$#1ũ /1.$#2(.- +ũ ĵũ 1# +(9.ũ 5( )#2ũ !.-ũ 5#'~!4+.ũ/1./(.ēũ -$ēũćđĊĈĈĐćĊĉ
(,/(#9 ũ"#ũ! 2 2Ĕũ"#/ 13 ,#-3.2Ĕũ.$(!(ı - 2ēũ -$.1,#2ĖũćĒćĊĊĎĈĐďũĵũĉĐĎČďĈĉēũ
#+#!31(!(23 ũ ĵũ , -3#-(,(#-3.ũ ĵēũ -$ēũ ćĒĒĎćĒĊĉćĉũũ
4(" ".ũ"#ũ -!( -.2ēũ -$ēũćĒđđćĎĊČćũ
ũ #-ũ +4,(-(.ũ 8ũ 5("1(.ēũ -$ēũ ĉđĉĊďĈĈũ ĵũ ćĒđĈĊĒĎĉĒ
4(" ".ũ"#ũ -!( -.2ēũ -$ēũćĒĉĐćĎĒČď
(,/(#9 ũ "#ũ .$(!(- 2ũ 8ũ ,#-2 )#1 ēũ -$ēũ ćĒĒćĉĉđĈĊũ 4(" ".ũ "#ũ -!( -.2ũ 8ũ -( .2ēũ -$ēũ ĉČĉĊĎćĊũ
(,/(#9 ũ "#ũ ! 2 Ĕũ .$(!(- 2ēũ -$ēũ ćđďĐďďĐĈćũĵũĉČĈĎČĎĊũ ,/+# " ũ".,_23(! ũćĒđđĒČďćĐ
#231.ũ#+#!31.,#!;-(!.ēũ .+" "41 ũ"#ũ 34 #1~ 2ũ ũ /1#2(¢-ēũ -$ēũ ũ ćĒĊćĎĊĈĒĉũ ĵũ ćđĈđĒĉĒĉďũ
M8I@FJ (-3.1ũ"#ũ 43.2Ĕũ24#+" Ĕũ31 ).ũ5 1(.2ēũ #++ĖũćđćĐĈČććĊ 2 )#ũ #1 /_43(!.ũ8ũ$+.1 +ũ/ 1 ũ" , 2ēũ -$ēũćĒĈČČĈĈĈć
ũ #!#2(3.ũ!.2#1ũ. 1 2ũ ũ+ ũ! 2 ũ++ , 1ũ ćĒĈĒĉćĈĉć
)#1 ũ ĵũ 5#-"#".1 ũ ĵũ 1#!#/!(.-(2ı 3 ēũ ũ ,#"(.ũ 3(#,/.ēũ -$ēũ ĉđĎĎćĈćũ ĵũ ćĒĉČĊĒĉďĎũ
:?F=<I<J
4 1"( ũ"#ũ #%41(" "ēũ -$ēũćĒđĉĉćđďČ
ũ '.$#1ũ/1.$#2(.- +Ĕũ+(!#-!( ũ ēũ -#).ũ "#ũ31;(+#1Ĕũũ -$ēũćĒĉĉďĎĐćď '.$#1ũ /1.$#2(.- +Ĕũ +(!#-!( ũ 3(/.ũ ēũ -$ēćĒĒĎĉĈđĒĐıćĒĒĎĉĈđĒĐēũũ '.$#1ũ /1.$#2(.- +Ĕũ +(!#-!( ũ 3(/.ũ ēũ -$ēũ ćĒĉČćĉĎĈĎũ
ũ #!1#3 1( ēũĉđČĒĉĐď
!'(++#1ũ 4~,(!.ũ (¢+.%.ēũ -$.1,#2ũ ćđĐĒĎĒćĉČĵćđĐĈĎďĒĎĒ
%1#2 ".ũ"#ũ ",(-(231 !(¢-ũ"#ũ ,/1#ı 2 2ēũ -$ēũćĒČđĎđĈĎĎēũ
%1#2 ".ũ "#ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũĉđĉĒČćĈĵćđĐĒđďĒďĉ
(!#-!( " ũ #-ũ 1 ).ũ .!( +ēũ -$ēũ ćĒĎďĐĎĈĉĉ
234"( -3#ũĐ,.ēũ #,#231#ũ"#ũ 1*#3(-%ēũ -$ēũćĒĎĎĊĊĈđĊ
47(+( 1ũ !.-3 +#ĵ 3#-!(¢-ũ +ũ !+(#-3#ũ -$ĖćđĐĐďďĉČć
!3 5.ũ2#,#231#ũ"#ũ -%#-(#1~ ũ#-ũ .-ı 3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũ ĉĐĎČĊČćũ ĵũ ćđĊČććďćĐ
ũ #!1#3 1( ũ (+(-%Õ#ēũ -$ēũĉđĎĉĊďć
2(23#-3#ũ #ũ #1#-!( Ĕũ 5#-3 2ēũ -$ēũ ćĒđĐČĊćĐĒũĵũĉđćĉČĊć
-%#-(#1 ũ .,#1!( +ũ !.-ũ #7/#1(#-ı !( ũ #-ũ !. 1 -9 2ēũ -$ēũ ćđČĎćĊďđČũ ĵũ ćđĐČćĐĈćČũ
.-3 ".1 ũ !'(++#1ēũ -$ēũćđČćĊĒđđĉ
ũ %1#2 ".ũ #-ũ 1*#3(-%ũ 8ũ #23(¢-ũ "#ũ
%#-3#ũ!423."(.ĵũ#2!.+3 ũ"#ũ2#%41(" "ēũ -$ēũćđđĈďćďĈĒ )#1.Ĕũ /#1!'#1.Ĕũ "(%(3 ".1Ĕũ 3#!-¢+.ı %.ũ #-ũ !.,/43 !(¢-ēũ -$ēũ ĉČĈđćĉďũ ĵũ ćđĊćĎđĊćĒ
(!#-!( " ũ#-ũ 41(2,.ũ (23¢1(!.ũ 4+34ı 1 +ēũ -$ēũćĒćĊĈĒĐČć
"#ũ
5#-3.2ēũ
-$ēũ
#!1#3 1( ũ )#!43(5 ũ (+(-%Õ#ēũ -$ēũ ćđĒĐđĈćđć 47(+( 1ũ "#ũ .$(!(- ũ ĵũ ,#-2 )#1.ēũ -$ēũ ćđĐĎĎĉĊďĈ %1#2 " ũ"#ũ+ ũ$ !4+3 "ũ"#ũ .-3 (+(" "ũ8ũ 4"(3.1~ ēũ -$ēũĉđĉđĐĐĊũĵũćĒĒĉďďĐĉĈ .-3 ".1 ı !'(++#1Ĕũ ũ,#"(.ũ3(#,/.ēũ -$ēũ ĉđĉćĊďđ .,4-(! !(¢-ũ .!( +ēũ -$ēũĉđĉďĒĉĉ #1 /( ũ ~2(! ēũ -$ēũĉČĈĐĐĉĒ 1*#3(-%ũ 8ũ #23(¢-ũ "#ũ #%.!(.2ēũ -$ēũ ćĒĉĐĈĈđĎĈ 234"( -3#ũ"#ũ"(2# .ēũ -$ēũćđČďđĉĉćĉ ũ %1#2 " ũ"#ũ 1*#3(-%ēũ -$ēũĉđĎĊďĐď ."#+.ũ/1.$#2(.- +ēũ .+.ũ!.-3 !3.2ũ/1.ı $#2(.- +#2ēũ -$ēũćđĐČćĊĊĎĈũ .,4-(! !(¢-ũ .!( +ēũ 1."4!!(¢-ũ1 "( +Ĕũ ,42(! +Ĕũ+.!4!(¢-Ĕũ2.-("(23 ēũ -$ēũĉČĉĊĎĊĒũ ĵũćĒĒćĒđĎĊĈē
(!ēũ .,4-(! !(¢-ũ .!( +ēũ -$ēũĉČĈĉćĒĊ .,4-(! ".1 ũ .!( +ēũ -$ēũ ćđĊććĎĒČĊũ ĵũĉđĉďĒĉĉ #!-¢+.% ũ#-ũ ",(-(231 !(¢-ũ"#ũ ,/1#ı 2 2ēũ -$ēũĉĐČĉĎĒĈũĵũćĒĉďĒđČČĎũ ũ #!;-(!.ũ(-"4231( +ēũ -$ēũćĒĎćĒĊĉćĉũ _!-(!.ũ#-ũ(-$.1,;3(! ēũ -$ēũćĒđđďĒĈćĊ
-$ēũĉĐĎĎććć
2(23#-3#ũ"#ũ.$(!(- ũ #+$ĖũćđČıĉĉĉıĉćĎ 2#15(!(.ũ "#ũ .1" ".2ēũ -$ēũ ĉČĉČćĐĈũ ĵũ ćĒđĈďćČĎĊũ %1#2 ".ũ #-ũ 1*#3(-%ũ 8ũ #23(¢-ũ "#ũ #%.!(.2ũ #+$ēũ ćĊĉČĈĉđćĊĵćđĐČČćĉďĎ !'(++#1ũ #-ũ ćĒĉĎĈĊĉĊĒũ
(-$.1, 3(! ēũ
-$ēũ
%1#2 ".ũ #-ũ -%#-(#1~ ũ #-ũ 1% -(ı 9 !(¢-ũ "#ũ ,/1#2 2ũ -$Ėũ ĉČĉĈĈďČĵũ ćđČĈđćČČČĵćđĈĊĐćČĊČ !'(++#1ũ #-ũ !.-3 (+(" "ēũ 7/#1(#-!( ũ #-ũ 5#-3 2ũ 8ũ 3#-!(¢-ũ +ũ !+(#-3#ēũ #+$Ėũ ćđĊĉĒĉČĐĊ
ũ %1#2 " ũ"#ũ .-3 (+(" "ũ8ũ 4"(3.1( ēũ -$ēũćđČďĈĎććĐĔũćĊĉđĉĒĎĒĐ
234"( -3#ũ-.5#-.ũ-(5#+ũ"#ũ ",(-(231 ı !(¢-ēũ -$ēũćĒĎĎĉďĉĈČ ,/+# ".ũ -! 1(.ũ!4 +04(#1ũ;1# ėũ!'.ı $#1ũ /1.$#2(.- +ũ #+$ēũ ćĒĎĒďĎČĊĐũ 8ũ ćĊũ ĉČĈćČČĉ #!#/!(.-(23 ēũ -$ēũ ćĒĒČćĊČĐĒũ ĵũ ćđĉďĎďĉČćũ 84" -3#ũ "#ũ !.!(- Ĕũ ! , 1#1.ēũ -$ēũ ćĒćČČČĎĒĐ ũ3#!-¢+.%.ũ#-ũ -;+(2(2ũ"#ũ (23#, 2ēũ -$ēũ ĉČĎĉĒĎČũĵũćđĊćĈĎďĈĉũ %1#2 " ũ"#ũ 41(2,.ũ!.-ũ,#-!(¢-ũ#!.ı +¢%(! ēũ -$ēũćđČĐĈĊďďĈũ (2# ".1ũ/4 +(!(3 1(.ēũ -$ēũćđČĎđČďĒđũũ
(!#-!( ".ũ #-ũ "4! !(¢-ũ , (#-ı 3 +ũ 8ũ !.341(2,.ēũ -$ēũ ćĒđđĎđđĊćũ ĵũ ĉđČĉĊĈćũ %1#2 ".ũ"#ũ 1% -(9 !(¢-ũ"#ũ ,/1#2 2ēũ -$ēũĉĎĉĈćĐĒũĵũćđĐĉĐďĈĐć (-3.1ũ /1.$#2(.- +ũ "#ũ ! 2 2ũ /(-341 ũ "#!.1 3(5! ũ #-ũ %#-#1 +ũ % 1 -3(9 ".ēũ ćĒĒćĈĉĊĈć ũ (!#-!( ".ũ #-ũ "4! !(¢-ũ , (#-ı 3 +ũ 8ũ !.341(2,.ēũ -$ēũ ĉđČĉĊĈćũ ĵũ ćĒđđĎđđĊć #!1#3 1( ēũ -$ēũĉđĎĎćĈćũĵũćĒĉČĊĒĉďĎ ũ %1#2 ".ũ "#ũ 1% -(9 !(¢-ũ "#ũ ,/1#ı 2 2ēũ -$ēũćđĐĉĐďĈĐćũĵũĉĎĉĈćĐĒ ũ %1#2 " ũ "#ũ 1% -(9 !(¢-ũ "#ũ ,/1#ı 2 2ēũ -$ēũćĒđĉĉČĐĈČ %1#2 ".ũ "#ũ 1% -(9 !(¢-ũ "#ũ ,/1#ı 2 2ēũ -$ēũćđĒČďđďĒĊũĵũĉĐĎČĐČĈ #!1#3 1( ũ (+(-%Õ#ũ ĵũ /1.$#2.1 ũ "#ũ (-%+#2ēũ -$ēũćđĐđĉďćĉĈ #!1#3 1( ēũ -$ēũĉČĈďćČĈũĵũćđČĉĐďĈĐČũ /+//-
M<E;<;FI<J #-"#".1ēũ -$ēũćĊĉČĈĎĊČĉũĵũćĒĎđĈĐďĒĉ
ēũ #-".ũ+.3#ũ"#ũČĊĎć,ĉũ -$Ėũ ĉČĉćĐĊČıũ ćĒČĎďĉČĊđĸ 19ēũ ĈćŇĒďĊĒđĹ ũ ēũ -ũ 3#11#-.ũ "#ũ ĊćĊ,3ĉĔũ 41 -(9 !(¢-ũ #1./4#13.ũ ' !'4;-ēũ .-.ĖćĒĐĎĒďĐććēũĸ 1ēĈĎũŇĒďđďĉĹ ũ ũ -4#5 ũ #-ũ 4 !'(ũ ũ %" +#- ēũ 1!.2 ēũ ćđČĐćĈĊĎďĸ 1ũ ĈĎũŇĒďđĐćĹ
8II@<E;FJ ēũ #/ 13 ,#-3.ũĉũ".1,(3.ı 1(.2ũ#7!#+#-3#2ũ!.-"(!(.-#2ũ ++#ũ .+~5 1ũ 8ũ 23(++.ēũ +3.2ēũ %#-!( ũ"#ũ ( )#2ũ 1.ı 2#ēũ #+$ēũ ĉČďĈćĎĉıũ ćĒđĎČĈđĊďũ ĸ 1ēũ ĈćũŇĒďĎĎĎĹ
ũ "#/ 13 ,#-3.ũ !.-ũ 3.".2ũ
+.2ũ 2#15(!(.2ũ -% '41!.ũ ).ēũ 4-3.ũ ũũ 1, !( ũ 2/ ũ #-31 " ũ ũ + 2ũ ( 2ũ ĸ 19ēĈĈũŇĒďđĒĐĹ
4#5 ũ .23#1~ ũ 4 (! " ũ #-ũ ~.ũ #1"#ũ 1#04(#1#ũ "#ũ -%#-(#1 ũ #-ũ 41(2,.ũ 8ũ .3#+#1 ēũ -$.1,#2Ėũ /"41 -ľ!!.,#1!(. , 3.ē.1%ē#!ũ ĵũ ćđČďĊĐĈĉĉũ
.-"4!!(¢-Ĕũ /#1$#!!(.- ,(#-3.ũ .ũ /1#-"(9 )#ēũ -$ēũćĒĒĎďĈćČČŇĒĎĈđĎ
#!#2(3.ũ5#-"#".1#2ũĸ 2Ĺēũ -$ēũĉČĉĉđđđũ
-31#- ".1ũ /#12.- +Ĕũ $(3-#22Ĕũ 43.ı
ĵũćđĐĐĈďĉĒćũ
../#1 3(5 ũ"#ũ '.11.ũ8ũ 1_"(3.ũ-#!#ı
<DGC<FJ ēũ #!#2(3 ũ 4-ũ #,/+# ı ".ũ !'(++#1ũ / 1 ũ 3#-"#1ũ #-ũ +, !_-ũ /1#2#-3 1ũ".!4,#-3.2ũ#-ũ+ ũ 5ēũ +ũ #8ũ 8ũ 4(2/(! !' ũ $.-.ũ ćđČĐćĒćĈďũ ĸ 1ēũ ĈĎũŇĒďđČđĹ #ũ-#!#2(3 ũ 2#2.1ũ .,#1!( +ēũ -5( 1ũ .) ũ "#ũ (" ũ ũ2 ,/1.)#!3ľ'.3, (+ē!.,ũ 1#23(%(.2 ũ!+(-(! ũ-#!#2(3 ũ#-$#1,#1 2ũ 3(34+ " 2ũ8ũ 47(+( 1#2ēũ -$ēũćĒđćĈďĊđĊũĵũ /"41 -ľ!!.,#1!(. , 3.ē.1%ē#! ,/1#2 ũ /1.5##".1 ũ "#ũ /1."4!3.2ũ "#ũ +(,/(#9 ũ -#!#2(3 ũ 5#-"#".1#2ēũ -$ēũ ćđĎĎĎđćĎĎũ ĵũ 2#15(#7/1#22 , 3.ľ' .3, (+ē!.,ũ
#!#2(3.Ėũ 84" -3#ũ "#ũ !.!(- ēũ -$ēũ
ũ #!#2(3 ũ .5#-ũ !'(++#1ũ
5#'~!4+.2ēũ -$ēũ ćđČďĈĒĊćČũ ĵũ ĉČĉĎćđćũ ŇĒĎĈđĎũ
ũ ũ ũ"#ũ5#-3 2Ĕũ 4#- ũ /1#!#-!( Ĕũ #"4! !(¢-ũ 24/#1(.1Ĕũ .$1#!#,.2ũ 4#- ũ 1#,4-#1 !(¢-ēũ -$Ėũ 4(3.ũćĉıČĎũ#-31#ũ .! $4#13#ũ8ũ .+~5 1ũ ŇĒĎĈđĎ (/.3#1 /( ĈĔũ -!'.ũ 5#-341 ēũ -$ēũ ćĒĒĎďĈćČČũŇĒĎĈđĎ #!#2(3.Ėũ 84" -3#ũ "#ũ !.!(- ēũ -$ēũ ĉđĉĎČďĊũĵũćĒĉČďđČďđũŇĒĎĈđĎ
ũ
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏŏ
"#$#-2 Ĕũ /1.3#!!(¢-ũ /#12.- +ēũ -$ēũ ćĒĒĎďĈćČČũĸŇĒĎĈđĎĹ
2(3 ũ $(!( +ũ"#ũ -5#12(.-#2ũ!.-ũ#7/#1(#-ı !( ēũ -$ēũ/"41 -ľ!!.,#1!(. , 3.ē.1%ē #!ũ #+$ēũĉđĉĉĊđĒũĵũćĒćđĒĉĊćĐũ /1#2#-3 +#ēũ24#+".ũ ;2(!.Ĕũũ .+~5 1ũČıĉĎũ8ũ -(" "ũ !(.- +ēĸ 1ēĈćũũŇĒďĈĎđĹ
#ũ5#-"#ũ3 7(ũ!.-ũ !!(.-#2ũ8ũ"#1#!'.2ēũ -$ēũćĒĒćđČĈĐđũĵũĉČĉćđĐĎũ
ĉđĉĎČďĊũĵũćĒĉČďđČďđũŇĒĎĈđĎ
#!#2(3.ũ 5#-"#".1ũ "#ũ !!#2.1(.2ũ "#ũ
ũ ũ"#ũ+.2ũ2#15(!(.2ũ"#ũ+(,/(#9 ũ
/4#13 2ũ "#-31.Ĕũ".!4,#-3.2ũ#-ũ1#%+ ũ8ũ 1#$#1#-!( 2ũ/#12.- +#2ēũ -$ĖũćĒđČĒĎĊĐČũ ŇĒĎĈđĎ
#ũ-#!#2(3 ũ -%#-(#1.ũ %1¢-.,.Ĕũ .-ı 3 ".1 Ĕũ 2(23#-3#ũ"#ũ ."#% ēũ -$ēũ 5ēũĈĉũ"#ũ .5(#, 1#ũćĒĎĎũ8ũ ., 2ũ #5(++ ē #ũ -#!#2(3 ũ 5#-"#".1#2ũ 8ũ (2(3 ı
".1#2ũ ũ _"(!.2ēũ -$ēũ ĉČĐćĒđČũ ĵũ 1#!412.2'4, -.2ľ0 1(23.-ē!.,ũ
ũ 1 ũ !.!(- 1ũ 8ũ 11#%+.ũ
42!.ũ #,/+#.Ėũ 47(+( 1ũ .-3 +#ēũ -$ēũ
"#ũ ! 2 ēũ ,(+( ũ !.13 ũ #-ũ $(!. ēũ #+$Ėũ ĉČďćĎĒđũ8ũĉđĉĊČČČũĸŇũĒĎĒĐČĹ
ũ #23(+(23 ũ !.-ũ #7/#1(#-!( ũ 8ũ
Ĕũ 1#/ 1 !(¢-ũ "#ũ ! +#ı
ćĒĒćĒďĈĉČũũŇŇĒĎĈđĎ
E<>F:@FJ M8I@FJ
"#2#.2ũ"#ũ24/#1 !(¢-ũ -$Ėũ 4!1#ũ8ũ 4(3.ũ +3.2ũ /3(! ũ 404#ũ #+$Ėũ ĉđĉĐĈďĉũ ıũ ćĒĎĒćĊĈĒĉũũŇĒĎĈđĎ
$.-#2Ĕũ "4!' 2Ĕũ ,#9!+ ".1 2Ĕũ ".,(-%.ũ ũ".,(-%.ēũ 5.1ũ++ , 1ĖũćđďĉĒćĒđČıũ ćđĐĊĒĊĉđđũũŇĒĎĈđĎ
&/,1,&$ ´6$1 /8,6µ $7(1&,21 3(50$1(17( 35(&,26 02',&26
/,(+/ /,+-+
+ũ ũũ04#ũ 42! 2ũēēēũ (., 2 )#2Ĕũ .5#" "#2ũ"#ũ+4).Ĕũ #1(#" "ũ8ũ5 1(#" "Ĕũ !.-3;!3.2ēũćđČĈĎĊĊĒĈũĸ 1ēĈĉŇĒďČćĉĹ ũ Ĕũ ) 1ũ "#ũ /#2.Ĕũ -3(231#22ũ #+ 7Ĕũ #-31#- ,(#-3.ũ /#12.- +(9 ".Ĕũ/1#/ 1 !(¢-ũ$~2(! ũ /+(! ı " ũ/ 1 ũ3.".ũ"#/.13#ēũĸ Ĺũũ ũ".,(!(+(.ēũćĊĉČĉĊĎĎĊĵćĒĎĒĈĊĎĉĊĵć đĐĐĊĎćďĈēũĸ 1ēũĈĎũŇĒďđďđĹ
/,('+
'5 &$5/26 5 52'5Ì*8(= /2=$'$
&5,6723+(5 52<
(;3(572 (1 $0$55(6 '( $025
+DJR UHJUHVDU DO VHU DPDGR HQ KRUDV DPRURVR FDULxRVR \ WLHUQR D \ SDUD WRGD OD YLGD
&,58*,$ %$5,$75,&$ /$3$526&23,&$ 2%(6,'$'
&,58*,$ /$3$526&23,&$ (1)(50('$'(6 '(
',5(&&,21 7RPiV 6HYLOOD \ &ROyQ 7HOI ([W
/,.(+
(-"4231( +ũ ĸ#+;23(!.ũ 5(23.ũ 8ũ 1#!4 (#13.Ĺũ , 1! ũ (14 ēũ -$Ėũ ćĒđĊČććĈĐĵũ ĉı đĎČĊĐĈũũŇĒĎĈđĎ
F_iY_dW j[cf[hWZW# iWkdW# jkhYe" ^_ZhecWiW`[#iWb d Z[ h[Y[fY_ed[i# XWh aWhWea[#\ jXeb fWdjWbbW ]_]Wdj[$ 7J;D9?ED0 L_[hd[i o I|XWZe (fc W '&fc :ec_d]e '&Wc W . fc$ 9ZbW$ 9Wi^WfWcXW fWiWdZe Wdj_]ke YWcWb o%e XeZ[]Wi Z[b ckd_Y_f_e$ 9Wb_ XW`W &'#', (.((/)&
&DOOH -XDQ % 9HOD HQWUH *XD\DTXLO \ 4XLWR 7HOI FHO
" " ! % " ! $ " # " " ! #" '" ! ! ! ! ! " ! # * ) !
ũ ũũ4- ũ,;04(- ũ#+ 23(! ".1 ũ
+7584-27 *)4+76 ,-4 :17
*,1(&2/2*,$
&,58*,$ /$3$526&23,&$ 2%67(75,&,$ < *(1(5$/ (QIHUPHGDGHV GH OD +HUQLDV 9HVtFXOD $SpQGLFH PXMHU SODQLILFDFLyQ 3UyVWDWD +HPRUURLGHV IDPLOLDU FRQWURO GHO 7HVWtFXORV QR GHVFHQGLGRV HPEDUD]R SDUWRV &,58*,$ (67(7,&$ < FHViUHDV OLJDGXUDV 5(&216758&7,9$ KLVWHUHFWRPtD GHVFHQVR 1DUL] VHQRV DEGRPHQ OLSRVXFFLyQ FLFDWULFHV GH YHMLJD OXQDUHV \ YHUUXJDV 'U /XLV ) &D]DU 0 SODVWLD YDJLQDO
75(6 -8$1(6 3/$=$ )LFRD /DV 3DOPDV ! ! " * ! ( ! " "!& !
āĆ
$5 FF
ēũ5#-".ũ"#/ 13 ,#-3.ũ !.,.ũ-4#5.ũ -$ĖũĉČĉćĐĊČĵćĒČĎďĉČĊđ ĸ 19ēĈćũŇĒďĊĒđĹ
ũ .$(!(- ũ Ċ#1ũ /(2.Ĕũ 434 +(2ı 3 ũ , 3.ũ ĸĊćČĹũ #+$ēũ ćĒČćĊďćĉĉĵũ ĉČĉďđČďũĸ 1ũĈćũŇĒďĎćďĹũ
/(&785$ '( &$57$6 2 7$527+ 9LVtWDPH R OOiPDPH HQ HVWH PRPHQWR TXH UHDOL]R WX DPDUUH
:H$ H7KB ?D97 7D:?DE
C;:?9E 9BÞD?9E D;<HEBE=E 9KHIEI ;D 9>?B; # KHK=K7O # 9K87 # 8H7I?B ;IF;9?7B?IJ7 ;D ;D<;HC;:7:;I :;B H?yâD" LÞ7I KH?D7H?7I" >?F;HJ;DI?âD 7HJ;H?7B" :?78;J;I " :?ÛB?I?I $
/,/&+
/,./)
9EDIKBJ7 FH;L?7 9?J7 7B 9;B &// .'/..-$ FEHJ70 &/'(++,/-
!
7C87JE0 9Wij_bbe &-#(/ ;Z_\_Y_e Jehh[iYe [djh[ @kWd 8[d_]de L[bW o '( Z[ Del_[cXh[" Yedikbjeh_e B#+ fbWdjW XW`W$ >EH7H?E0 '(^&& W '+^&&$ H?E87C870 9WhWXeXe '&#(( o / Z[ EYjkXh[$ J[b\i0 (/,+'/' >EH7H?E0 '-^&& W (&^&&
/,+,.
9@<E<J I8@:<J ũ ēũĈČĊ,ĉũ!.-2314!ı !(¢-ũ/1#!(.ũ ũ!.-5#-(1ũ (!#-3(- ũ (9 11.ũ Ĉďďũ8ũ .13#9ēũ #+$ĖũĉđĉĊĈĊĉıćđĎČďĉĊĐĊũ ĸ, 1ēĈćũŇĒďďĒćĹ
/,./,
ũ
/,)+.
/+./+
3DFLHQWHV HQ WUDWDPLHQWR /+/++
OR FHUWLILFDQ
'UD 6LOYLD 7 9DOHQFLD ( 'U 6D~O $ 9DOHQFLD (
³ &2%5$1=$6 (&8$'25´
$PEDWR /DWDFXQJD 3X\R 3HOLOHR 7HOI
5HFXSHUDPRV FDUWHUD YHQFLGD /HWUDV GH &DPELR &KHTXHV \ 3DJDUpV 8G QR SDJD ORV JDVWRV 4XLWR \ &HYDOORV GR 3LVR 7HOI &HO /,+(.
/+./* /,(,/
625'(5$
+25$5,2 '( $7(1&,Ð1 0$57(6 SP D SP 0,(5&2/(6 DP D DP 'LU (GLILFLR 0XWXDOLVWD $PEDWR &DOOH 0HUD \ &HYDOORV HQWUDGD SRU OD FDOOH 0HUD
WR SLVR 2I 7HOpIRQR
'U 'LHJR 7RUUHV 5
/,.-+
6( 1(&(6,7$ &8,'$'25 &RQVWUXFFLyQ DYDQ]DGD HQ )LFRD /DV 3DOPDV 3DUHMD VLQ QLxRV SUHIHULEOH 7UDHU UHFRPHQGDFLRQHV SHUVRQDOHV H LGHQWLILFDFLyQ RULJLQDOHV /,.(+
āć
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
5IZQIKPQ )+)8=4+7
5IUn \M LWa MV ^QLI IUWZ a KIVKQWVM[ XWZY]M LM U]MZ\I XIZI Y]M \IV\I[ NTWZM[
+-4=4): !! /,)/(
/,)),
+WV 2]IV /IJZQMT MK]I\WZQIVW )UWZ M\MZVW
."3*"$)*
+25$ 352*5$0$
+25$ 352*5$0$
+
79DQXQFLRV
+
(O 6KRZ GH ORV V
+
,QIRPHUFLDO
+
'XURV HQ $FFLyQ
+
0LQXWRV
+
79DQXQFLRV
+
,QIRPHUFLDO
+
'HVGH HO %DU
+
867Y )RONORUH
+
&LQHPDQtD
+
(QODFH 3UHVLGHQFLDO
+
3URKLELGR 3URKLELU
+
,QIUDPXQGR 'LJLWDO
+
'RFXPHQWDOHV
+
6WDUJDWH $WODQWLV
+
,QIRPHUFLDO
+
79DQXQFLRV
+
&LQH 3tFDUR
+
5HYLVWD &RWRSD[L
+
79DQXQFLRV
+
$SUHQGLHQGR D 9LYLU
+
&LHUUH /,.(&
ēũ"#+ũ ē Ėıũ ũ ũ
ũ
Ĕũ2#ũ+#ũ ' !#ũ2 #1Ė #-31.ũ "#+ũ 4(!(.ũ #1 +ũ 4, 1(.ũ "#ũ (5.1!(.ũ .ēũ ĉćĈĈı ćĈćďĔũ 2#%4(".ũ /.1ũ ũ ũ ũ Ĕũ #-ũ !.-31 ũ"#ũ ũ ũ
ũ
Ĕũ2#ũ' ũ"(2ı /4#23.ũ !(3 1ũ /.1ũ + ũ 1#-2 ũ "#ũ #23 ũ !(4" "ũ "#ũ , 3.Ĕũ "#ũ !.-$.1,(" "ũ !.-ũ +.ũ /1#!#/ı 34 ".ũ #-ũ #+ũ 13ēũ đĉũ "#+ũ ¢"(%.ũ "#ũ 1.!#"(,(#-3.ũ (5(+Ĕũ 8 ũ 04#ũ + ũ !3.1 ũ ' ũ , -($#23 ".ũ !.-ũ )41 ,#-3.ũ + ũ (,/.2( (+(" "ũ "#ũ "#3#1,(- 1ũ#+ũ !34 +ũ".,(!(+(.ũ.ũ 1#2("#-!( ũ "#+ũ 1#$#1(".ũ "#, -ı " ".Ĕũ2#ũ+#ũ' !#ũ2 #1Ė
Ėũ ũ ũ ũ ũ ũ ė ũ ũ Ėũ ũ ė Ėũ ė ĖũĈđĊćĐĉćĈĈćĈćďė
ũ ũ ũ Ėũ ēũ ũ ũ ė Ėũ ũ ũ ũ ė Ėũ ũ ũ
ũ
ė Ėũ ė
ũ ũ ũ ũ ũ ũ ēũ ũ , 3.Ĕũ , 13#2ũ ĉĉũ "#ũ $# 1#1.ũ "#+ũ ĉćĈĈĔũ + 2ũ Ĉď'ććĔũ Ėũ 4,/+(".ũ #+ũ1#04#1(,(#-3.ũ"#+ũ 49% ".Ĕũ+ ũ "#, -" ũ/1#2#-3 " ũ/.1ũ ũ ũ ũ Ĕũ/.1ũ2#1ũ +#% +ũ2#ũ+ ũ !#/3 ũ ũ31;,(3#ũ5#1ı +ũ 24, 1(.ēũ ũ 1 ũ +.2ũ $(-#2ũ "#ũ +#8Ĕũ !~3#2#ũ /.1ũ + ũ /1#-2 ũ "#ũ + ũ !(4" "ũ "#ũ , 3.Ĕũ +ũ "#, -ı " ".ũ ũ ũ
ũ
Ĕũ "#ũ !.-$.1,(" "ũ ũ +.ũ "(2/4#2ı 3.ũ #-ũ #+ũ 13ēũ đĉũ "#+ũ ¢"(%.ũ "#ũ 1.!#"(,(#-3.ũ (5(+Ĕũ 8 ũ 04#ũ + ũ !3.1 ũ ' ũ , -($#23 ".ũ ).ũ )41 ,#-3.ũ "#2!.-.!#1ũ #+ũ !34 +ũ ".,(!(+(.ũ .ũ 1#2("#-!( ũ "#+ũ 1#$#ı 1(".ũ "#, -" ".ēũ ũ 1.5_ 2#ũ "#ũ !41 ".1ũ "ı+(3#,ũ +ũ,#-.1ũ' (ı ".ũ #-ũ #+ũ , 31(,.-(.Ĕũ +4#%.ũ "#ũ /4 +(! " 2ũ + 2ũ !(3 !(.-#2Ĕũ / 1 ũ +.ũ 04#ũ 2#ũ .(1;-ũ + 2ũ 24%#1#-!( 2ũ "#ũ ".2ũ / 1(#-3#2ũ !#1! -.2ũ 8ũ ũ $ +3 ũ "#ũ _23.2ũ "#ũ ".2ũ /#12.- 2ũ '.-.1 +#2Ĕũ 04(#-#2ũ /1#2#-3 ı 1;-ũ242ũ".!4,#-3.2ũ/#12.- +#2ēũũ 4_-3#2#ũ !.-ũ #+ũ 1ēũ #.5 --8ũ ! Ĕũ %#-3#ũ (2! +ũ 2(%- ".ũ ũ #23 ũ 4"(! 341 ēũ ũ %1_%4#2#ũ + ũ ".!4,#-3 !(¢-ũ -#7 ēũũ _-% 2#ũ #-ũ !4#-3 ũ + ũ ! 2(++ ũ )4"(!( +ũ .ēũ ĈĊČēũ ũ .ũ 04#ũ "(2/.-%.ũ !.,.ũ
4#9ũ #,/.1 +ēũ ũ .3($~04#2#ēıũ $Ĺũ 1ēũ 423 5.ũ ¢/#9ũ Ì #9Ĕũ 4#9ũ #,/.1 +ũ "#+ũ 49% ".ũ _/3(,.ũ "#ũ+.ũ (5(+ũ"#ũ , 3.ēũũ #13($(!.ēũũ +ũ #!1#3 1(.ē
.ũ 04#ũ !(3.ũ +ũ "#, -" ".ũ / 1 ũ +.2ũ $(-#2ũ +#% +#2ũ /#13(-#-3#2ėũ ũ $(-ũ "#ũ 04#ũ 5#(-3#ũ "~ 2ũ "#2/4_2ũ "#ũ + ũ Ì+3(, ũ /4 +(! !(¢-ũ 2# +#ũ ! 2(++#1.ũ )4"(!( +ũ #-ũ #23 ũ !(4" "ũ "#ũ , 3.ũ/ 1 ũ242ũ-.3($(! !(.ı -#2ēũũ #13($(!.ēũũ +ũ #!1#3 1(.ē (1, ũ +#%( +# 1ēũ 4%.ũ -3.2ũ ';5#9 #!1#3 1(. , 3.Ĕũ 19.ũĊũ"#+ũ .ũĉćĈĈē 8ũ".2ũ2#++.2 ĈĒĊČďĵĒďđđĒ
24ũ $ ++#!(,(#-3.ēũ ũ #ũ "#!+ 1 ũ (#13 ũ + ũ 24!#2(¢-ũ '#1#"(3 1( ũ "#ũ +.2ũ (#-#2ũ "#) ".2ũ /.1ũ + ũ $ ++#!(" ēũ ũ 1.!_" 2#ũ ũ + ũ $ !ı !(¢-ũ "#ũ (-5#-3 1(.2ũ 8ũ 5 +Ì.ũ "#ũ +.2ũ (#-#2Ĕũ !.-ũ + ũ !.-!411#-!( ũ "#ũ +.2ũ '#1#"#1.2ũ #ũ (-3#1#2 ".2ũ #-ũ + ũ 24!#2(¢-ũ 8ũ "#+ũ /#1(3.ũ 04#ũ ./.134- ,#-3#ũ 2#ũ -., 1 1;ēũũ ~3#2#ũ ũ ũ ũ ũ Ĕũ #-ũ #+ũ +4% 1ũ 04#ũ 2#ũ (-"(! ũ 8ũ ũ +.2ũ /1#24-3.2ũ 8ũ "#2!.-.!(".2ũ '#1#"#1.2ũ "#ũ + ũ ! 42 -3#Ĕũ ũ ũ ũ ũ ũ !.-ũ + ũ "#, -" Ĕũ #-ũ $.1, ũ #731 !3 " ũ 8ũ #23 ũ /1.5("#-!( Ĕũ ,#"( -3#ũ 31#2ũ /4 +(! !(.-#2Ĕũ #-ũ 4-.ũ "#ũ +.2ũ"( 1(.2ũ04#ũ2#ũ#"(3 -ũ#-ũ#23 ũ !(4" "ũ"#ũ , 3.ũ"#ũ!.-$.1,(ı " "ũ!.-ũ#+ũ 13ēũđĉũ"#+ũ ¢"(%.ũ"#ũ 1.!#"(,(#-3.ũ (5(+ēũ -2!1~ 2#ũ + ũ"#, -" ũ#-ũ#+ũ #%(231.ũ"#ũ+ ũ 1./(#" "ũ "#+ũ ! -3¢-ũ , 3.Ĕũ / 1 ũ +.ũ !4 +Ĕũ 2#ũ -.3($(! 1;ũ ũ 24ũ 3(34+ 1ēũ ũ 4_-3#2#ũ !.-ũ #+ũ 2# .1ũ +! +"#ũ -3.- +ũ 8ũ 1.!41 ".1ũ ~-"(!.ũ "#+ũ ēũ 4-(!(/(.ũ "#ũ , 3.Ĕũ !(3;-".2#+#2ũ #-ũ 242ũ "#2/ !'.2ũ /.1ũ (-3#1,#"(.ũ "#ũ 4-.ũ"#ũ+.2ũ2# .1#2ũ!(3 ".1#2ũ"#ũ + ũ .13#ũ 1.5(-!( +ũ "#ũ 423(!( ũ "#ũ 4-%41 '4 ēũ ũ #2(%- 2#ũ #-ũ ! +(" "ũ "#ũ 1.!41 ".1ũ .,Ì-ũ "#ũ+.2ũ !3.1#2ũ ũ+ ũ2# .1 ũ -!8ũ +(9 #3'ũ , %4 8 ũ (#1 ēũũ %1_%4#2#ũ + ũ ".!4,#-3 !(¢-ũ ")4-3 ēũ ũ _-% 2#ũ #-ũ !4#-3 ũ #+ũ ! 2(++#1.ũ )4"(!( +ũ 2# + ".ũ / 1 ũ 242ũ -.3($(! !(.-#2ũ 8ũ + ũ 43.1(9 !(¢-ũ 04#ũ !.-ı $(#1#-ũ ũ 24ũ "#$#-2.1 ēũũ ~3#2#ũ 8ũ -.3($~04#2#ēıũ 1ēũ
4(2ũ (++ !~2ũ -2#!.ıũ
4#9ũ #73.ũ "#ũ +.ũ (5(+ũ "#ũ 4-%41 '4 Ĕũ #13($(! ũ #+ũ #!1#3 1(.ũ $Ĺũ 1ēũ .1%#ũ 11(++.ũ ē
.ũ04#ũ!(3.ũ ũ423#"#2ũ/ 1 ũ +.2ũ $(-#2ũ +#% +#2Ĕũ /1#5(ı -(_-".+#2ũ"#ũ+ ũ. +(% !(¢-ũ 04#ũ 3(#-#-ũ "#ũ 2# + 1ũ ! 2(++#1.ũ )4"(!( +ũ / 1 ũ 242ũ $4341 2ũ-.3($(! !(.-#2ēı , 3.Ĕũ 19.ũ Ēũ "#+ũ ĉćĈćēı (1, ũ +#%( +#ũ ēũ ũ
ũ ē 8ũ4-ũ2#++. ĈĒĊČĊĵĒďđďď
+#, -( Ĕũ .%8.ı 4!.Ĕũ 4 (! " ũ #-ũ + ũ / 11.04( ũ ,(+(.ũ 1~ ũ #1;-Ĕũ "#+ũ ! -3¢-ũ ~++ 1.Ĕũ /1#ı 2#-3 ".ũ /.1ũ + ũ 2# .1 ũ + -! ũ ,#+( ũ (++ !~2ũ _1#9Ĕũ #2ũ !+ 1 ũ !.,/+#3 ũ 8ũ 1#Ì-#ũ +.2ũ "#,;2ũ 1#04(2(3.2ũ "#ũ +#8ũ /.1ũ +.ũ 04#ũ 2#ũ !#/3 ũ ũ 31;,(3#ēıũ -ũ !.-2#ı !4#-!( ũ 2#ũ "(2/.-#Ėũ Ĉēıũ 4#ũ 2#ũ !(3#ũ ũ +.2ũ 424 1(.2ũ !.-.!(".2ũ .ũ -.Ėũ 2# .1#2ũ #.- 1".ũ +(_!#1ũ 1!_2ũ -3 , 1~ Ĕũ 1#2("#-3#ũ "#+ũ (1#!3.1(.ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ .%8.ı 4!.Ĕũ 8ũ 2# .1ũ (2#1ũ /.+#¢-ũ (++ !~2ũ (++ !~2Ĕũ ,#"( -3#ũ !.,(2(¢-ũ +( 1 " ũ +ũ 2# .1ũ #-(#-3#ũ .+~3(!.ũ "#ũ + ũ / 11.04( ũ ,(+(.ũ 1~ ũ #1;-Ĕũ / 1 ũ04#ũ#-ũ#+ũ3_1,(-.ũ"#ũđũ"~ 2ũ !.-3#23#-ũ 2# + -".ũ ".,(!(+(.ũ +#% +Ĕũ / 1 ũ $4341 2ũ -.3($(! !(.ı -#2ēıũ ĉēıũ ~3#2#ũ ũ +.2ũ 424 1(.2ũ !.-.!(".2ũ .ũ -.ũ /.1ũ + ũ /1#-2 Ĕũ #-ũ4-.ũ"#ũ+.2ũ"( 1(.2ũ +ũ #1 +".ũ .ũ ũ .1 ũ04#ũ2#ũ#"(3 -ũ#-ũ#23 ũ !(4" "ũ "#ũ , 3.ũ ,#"( -3#ũ + ũ /4 +(! !(¢-ũ "#ũ 4-ũ #731 !3.ũ "#ũ #23 ũ/#3(!(¢-ũ8ũ#23 ũ/1.5("#-!( Ĕũ /.1ũ31#2ũ5#!#2Ĕũ,#"( -".ũ"#ũ4- ũ ũ .31 ũ #+ũ /+ 9.ũ "#ũ đũ "~ 2ũ "#ũ !.-$.1,(" "ũ!.-ũ#+ũ 13ēũđĐũ"#ũ+ ũ
#8ũ"#ũ %4 2ēıũĊēıũ 4#ũ2#ũ!(3#ũ ũ +.2ũ424 1(.2ũ!.-.!(".2ũ.ũ-.ũ/.1ũ ! 13#+#2ũ04#ũ2#ũ$() 1;-ũ#-ũ31#2ũ"#ũ +.2ũ/ 1 )#2ũ,;2ũ$1#!4#-3 ".2ũ"#ũ + ũ/ 11.04( ũ ,(+(.ũ 1~ ũ #1;-Ĕũ ,#"( -3#ũ !.,(2(¢-ũ +( 1 " ũ +ũ 2# .1ũ #-(#-3#ũ .+~3(!.ũ"#ũ+ ũ(-"(ı
! " ũ/ 11.04( ēıũ ũ"#2(%- !(¢-ũ "#ũ #1(3.ũ2#ũ+ ũ' 1;ũ#ũ4- ũ$#!' ũ 04#ũ ./.134- ,#-3#ũ 2#ũ 2# + ı 1;ēıũ _-% 2#ũ#-ũ!4#-3 ũ#+ũ".,(ı !(+(.ũ 2# + ".ũ 8ũ + ũ 43.1(9 !(¢-ũ !.-$#1(" ũ +ũ .% ".ũ #$#-2.1ēıũ %1_%4#2#ũ + ũ ".!4,#-3 !(¢-ũ ")4-3 Ĕũ "#2%+¢2#2#ũ + ũ ,(2, ũ 8ũ "#) -".ũ !./( 2ũ #-ũ 43.2Ĕũ "#54_+5 2#ũ +.2ũ .1(%(- +#2ēıũ #ũ 2#-3 1;ũ+ ũ1 9¢-ũ!.11#2/.-"(#-ı 3#ēıũ .1ũ 42#-!( ũ "#+ũ #!1#3 1(.ũ (34+ 1Ĕũ !3Ì#ũ !.,.ũ #!1#3 1(.ũ -! 1% ".ũ #+ũ (!ēũ 1+.2ũ 13~-#9ēıũ ēıũ $Ĺũ -%ēũ 4(2ũ + 9 1ũ . / -3 Ĕũ ..1"(- ".1ũ #%(.- +ũ "#, 1! ı !(¢-ũ ("1.%1;$(! ũ "#+ũ 23 9 ēıũ !#-31.ũ .- +ũ , 3.ēıũ (%4#ũ !#13($(! !(¢-ēı
.ũ 04#ũ !.,4-(!.ũ +ũ /Ì +(!.ũ #-ũ %#-#1 +ũ/ 1 ũ+.2ũ$(-#2ũ"#ũ+#8ũ!.-ı 2(%4(#-3#2Ĕũ /1#5(-(_-".+#2ũ "#ũ + ũ . +(% !(¢-ũ04#ũ3(#-#-ũ"#ũ2# + 1ũ ".,(!(+(.ũ +#% +ũ "#-31.ũ "#+ũ /#1~ı ,#31.ũ 41 -.ũ "#ũ _23 ũ %#-!( Ĕũ / 1 ũ$4341 2ũ-.3($(! !(.-#2ē (1, ũ +#%( +#
(!ēũ 1+.2ũ 13~-#9 ũĸ Ĺũ 8ũ4-ũ2#++. ĈĒĊćĉĵĒďČđđ
ũ ũ ũ ũ ũ ũ ũ ũ ē ē ũ
ũ ũ ũ ũ Ĕũ ũ ũ ũ ũ ũ ũ ũ ũ
ı Ĕũ ı Ĕũ ũ ũ
ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ
ũ ũ ũ ũ ēı #-31.ũ "#+ũ )4(!(.ũ #2/#!( +ũ "#ũ (-5#-3 1(.2ũ 2#%4(".ũ /.1ũ
ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ2#ũ' ũ"(2/4#23.ũ!(3 1ũ /.1ũ + ũ /1#-2 ũ /.1ũ "#2!.-.!#1ũ + ũ 1#2("#-!( ũ .ũ ".,(!(+(.ũ "#ũ +.2ũ "#, -" ".2ũ "#ũ !.-$.1,(" "ũ !.-ũ+.ũ04#ũ"(2/.-#ũ#+ũ 13ēũđĉũ"#+ũ ¢"(%.ũ "#ũ 1.!#"(,(#-3.ũ (5(+ũ 2#ũ+#2ũ' !#ũ2 #1ēı
Ĕũ ũ ũ ũ ũ ũ ũ ũ ĔũđďĈıĉćĈć ũ ũ Ĕũ
Ĕũ Ĕũ ũ ũ ũ Ĕũ ũ
ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ
Ĕũ ēũ ũ
ũ Ĕũ
ũ ũ ũ ũ ũ ũ ēũ ũ , 3.Ĕũ )4#5#2ũ Ĉďũ "#ũ "(!(#, 1#ũ "#+ũ ĉćĈćĔũ + 2ũ ĈĎ'ĉćēũ ũ Ėũ ũ "#, -" ũ /1#2#-3 " ũ /.1ũ
ũ ũ ũ Ĕũ ũ ũ ũ ũ 8ũ ũ ũ ũ ũ #2ũ !+ 1 ũ 8ũ 1#Ì-#ũ +.2ũ 1#04(2(3.2ũ "#ũ+#8Ĕũ8ũ!.,.ũ!.-ũ+ ũ!./( ũ!#1ı 3($(! " ũ "#ũ + ũ / 13(" ũ "#ũ "#$4-ı !(¢-ũ "#ũ ũ ũ ũ ũ 04#ũ 2#ũ ' ũ /1#2#-3 ".Ĕũ 2#ũ ' ũ )423($(! ".ũ
ũ ũ ũ ũ Ĕũ ũ ũ
Ĕēũ ũ ũ Ĕũ ũ ũ ē ũ .ēũĐĎćıĉćĈĈı ē Ėũ + -! ũ ,#+( ũ (++ !~2ũ _1#9ē Ėũ #.- 1".ũ +(_2#1ũ 1!_2ũ -3 , 1~ Ĕũ 1#2("#-3#ũ "#+ũ (1#!3.1(.ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ .%8.ı 4!.ũ8ũ.31.ē ũ ũ ũ Ėũ .-!#2(¢-ũ "#+ũ #1#!'.ũ "#ũ 42.ũ 8ũ /1.5#!' ,(#-3.ũ "#ũ %4 2ũ "#ũ+ ũ !#04( ũ 4(++ -ı +#, -( Ĕũ .%8.ı 4!.Ĕũ 4 (! " ũ #-ũ + ũ / 11.04( ũ ,(+(.ũ 1~ ũ #1;-Ĕũ "#+ũ -3¢-ũ ~++ 1.Ĕũ 1.5(-!( ũ "#ũ 4-%41 '4 Ĕũ %4 2ũ 04#ũ 2#1;-ũ 43(+(9 " 2ũ/ 1 ũ 1#5 "#1.ũ8ũ/(2ı !~!.+ Ĕũ!.-ũ4-ũũ! 4" +ũ"#ũĈēĎũ+ĵ2ē ē ũ ũ ũ ēıũ ũ ũ ũ ēıũ ũ ũ ēıũ , 3.Ĕũ ũ ćĒũ "#ũ # 1#1.ũ "#+ũ ĉćĈĈēıũ ũ 2ũ Ĉć ććēıũ ũ !.-.!(,(#-3.ũ "#ũ + ũ /1#ı 2#-3#ũ ! 42 ũ #-ũ ,(ũ ! +(" "ũ "#ũ ..1"(- ".1ũ #%(.- +ũ #, 1! !(¢-ũ ("1.%1;$(! ũ "#+ũ 23 9 Ĕũ2#%Ì-ũ+ ũ !!(¢-ũ"#ũ/#1ı 2.- +ũ .ēũ ĈďćĉĐĉēıũ -ũ +.ũ /1(-ı !(/ +ũ + ũ 2.+(!(34"ũ "#ũ .-!#2(¢-ũ "#ũ %4 2ũ"#ũ+ ũ !#04( ũ 4(++ -ı
/,/)'
$9,62 '( 5(0$7( /D -XQWD GH 5HPDWHV 0XQLFLSDOHV FRQYRFD D ORV FROLQGDQWHV LQWHUHVDGRV HQ SDUWLFLSDU HQ HO UHPDWH GH OD IUDQMD GH WHUUHQR GH SURSLHGDG 0XQLFLSDO XELFDGD HQ HO 3DVR /DWHUDO \ /tQHD )pUUHD 6HFWRU +XDFKL 6DQ )UDQFLVFR GH OD SDUURTXLD +XDFKL *UDQGH FDQWyQ $PEDWR SURYLQFLD GH 7XQJXUDKXD GH ODV VLJXLHQWHV FDUDFWHUtVWLFDV È5($ P
&2/,1'$17( &DUORV *XDOEHUWR &DOGHUyQ
%$6( 86
(O UHPDWH VH UHDOL]DUi PHGLDQWH FRQFXUVR GH RIHUWDV HQ VREUH FHUUDGR GH FRQIRUPLGDG DO &yGLJR 2UJiQLFR GH 2UJDQL]DFLyQ 7HUULWRULDO $XWRQRPtD \ 'HVFHQWUDOL]DFLyQ \ 5HJODPHQWR *HQHUDO GH %LHQHV GHO 6HFWRU 3~EOLFR VH HIHFWXDUi HO OXQHV GH PDU]R GHO D SDUWLU GH ODV + KDVWD ODV + OD SUHVHQWDFLyQ GH VREUHV \ VX DSHUWXUD D ODV + HQ OD RILFLQD GH $VHVRUtD -XUtGLFD GH OD 0XQLFLSDOLGDG GH $PEDWR /DV VROLFLWXGHV VH GHEHUiQ SUHVHQWDU HQ SDSHO VHOODGR 0XQLFLSDO GRQGH FRQVLJQDUiQ VXV GDWRV SHUVRQDOHV GLUHFFLyQ GRPLFLOLDULD \ HO YDORU GH OD RIHUWD DFRPSDxDQGR OD FRSLD GH OD FpGXOD GH LGHQWLGDG \ FHUWLILFDGR GH YRWDFLyQ HO GH OD RIHUWD HQ GLQHUR HQ HIHFWLYR R FKHTXH FHUWLILFDGR D QRPEUH GH OD 0XQLFLSDOLGDG GH $PEDWR TXH VHUi SDUWH GH SDJR HQ HO FDVR GH VHU DGMXGLFDGR \ HQ VREUH FHUUDGR
$54 )(51$1'2 &$//(-$6 %$521$ $/&$/'( '( $0%$72
(ŋ )(0 (#)ŋ (ŋ 0),ŋ ŋ& ŋ (# 4ŋ3ŋ )& - ( # ŋ&) &
42! -ũ(-!+4(1ũ!.-ı 3#-(".2ũ!.-ũ#-ı $.04#ũ"#ũ"#1#!'.2ũ #-ũ, ++ 2ũ!411(!4+ ı 1#2ũ"#ũ+ 2ũ! 11#1 2ē
BWi Wkjeh_ZWZ[i Z[b 9edi[`e DW# Y_edWb Z[ bW D_ [p o 7Zeb[iY[d# Y_W o bW Kd_l[hi_ZWZ J Yd_YW Z[ 7cXWje KJ7 " [d WYje [if[Y_Wb Ò hcWhed Wo[h kd Yedl[d_e Z[ Yeef[hWY_ d [d [b WkZ_jeh_e Z[ 9_[dY_Wi 7Zc_d_ijhWj_lWi$ ;b eX`[j_le [i _dYbk_h Yedj[# d_Zei Yed [d\egk[ Z[ Z[h[Y^ei [d bWi cWbbWi Ykhh_YkbWh[i Z[ jeZWi bWi YWhh[hWi1 _cfkbiWh _d# l[ij_]WY_ed[i gk[ h[ifedZWd
W bWi d[Y[i_ZWZ[i Z[ bW d_ [p o WZeb[iY[dY_W Yece j[cWi [d bWi j[i_i Z[ ]hWZe" Xh_dZWh YWfWY_jW# Y_ d W ZeY[dj[i [ _dl[ij_]WZeh[i i[] d bW d[Y[i_ZWZ Ykhh_YkbWh1 o" \ec[djWh [ifWY_ei Z[ h[Ó [n_ d Yeb[Yj_lW gk[ \ehjWb[pYW o h[ik[b# lW h[gk[h_c_[djei Z[b I_ij[cW DWY_edWb :[iY[djhWb_pWZe Z[ Fhej[YY_ d ?dj[]hWb Z[ bW D_ [p o 7Zeb[iY[dY_W ID:F?D7 $ FWhW [ij[ fheY[ie i[ \ehc bW H[Z 7YWZ c_YW Kd_l[hi_jWh_W" _dijWdY_W Z[ Whj_YkbWY_ d [djh[ bWi kd_l[hi_ZWZ[i o [b 9edi[`e DWY_edWb Z[ bW D_ [p o 7Zeb[i# Y[dY_W" fWhW _cfkbiWh l W Yedl[# d_e kd Yed`kdje Z[ WYY_ed[i gk[ ]WhWdj_Y[d bei Z[h[Y^ei ^kcW# dei Z[ d_ ei" d_ Wi o WZeb[iY[d#
j[i$ ;ije" Wb WcfWhe Z[ bW dehcWj_# lW ;ijWjkjWh_W Z[ bW Kd_l[hi_ZWZ J Yd_YW Z[ 7cXWje" [b 9 Z_]e Z[ bW D_ [p o 7Zeb[iY[dY_W" bW 9edij_jkY_ d Z[ bW H[f Xb_YW Z[b ;YkWZeh" o bW B[o Eh]|d_YW Z[ ;ZkYWY_ d Ikf[h_eh gk[ Z_i# fed[ bW \ehcWY_ d _dj[]hWb Z[ fhe\[i_edWb[i h[ifediWXb[i Yed YWfWY_ZWZ[i o Z[ijh[pWi$ ;ijW dehcWj_lW i[ WcfWhW [d XWi[ W kdW h[ifk[ijW W bWi [nf[YjWj_lWi o d[Y[i_ZWZ[i Z[ bW ieY_[ZWZ1 W bW fbWd_Ò YWY_ d dWY_edWb o Wb h ]_c[d Z[ Z[# iWhhebbe1 W bW f[hif[Yj_lW Z[b fhe]h[ie Y_[dj Ò Ye" ^kcWd i# j_Ye o j[Ydeb ]_Ye ckdZ_Wb" o W bW Z_l[hi_ZWZ YkbjkhWb$
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
āĈ
(;75$&72 &2167,78&,21 '( /$ &203$fË$ *5$1-$ /26 3,126 *5$13,$9( &,$ /7'$
/D FRPSDxtD *5$1-$ /26 3,126 *5$13,$9( &,$ /7'$ VH FRQVWLWX\y SRU HVFULWXUD S~EOLFD RWRUJDGD DQWH HO 1RWDULR 6pSWLPR GHO &DQWyQ $0%$72 HO IXH DSUREDGD SRU OD 6XSHULQ WHQGHQFLD GH &RPSDxtDV PHGLDQWH 5HVROXFLyQ 6& ',& $
#')# %&$(!# !
ŇĒďĒĈĉ
>L<N>E: => ?HKF:<BHG => LHE=:=HL
O>G<>=HK>L =>E <>G>I:
&$3,7$/ 6XVFULWR 86 1~PHUR GH 3DUWLFLSDFLRQHV 9DORU 86 2%-(72 (O REMHWR GH OD FRPSDxtD HV 352'8&&,21 &5,$1=$ (;3/27$&,21 < 352'8&&,21 '( $9(6 < &(5'26«
15"'$*"' #$ 6 ,.+! . $( $3 )$*
" '$
1 (-1'$. #$ (+/ #+/ :01(+/
97 6
8 8 6
.$%$.$*0$)$*0$ 6
(/ 92/817$5,$'2 '(/ +263,7$/ ´'5 -8/,2 (15,48( 3$5('(6 & µ 62/&$ ² 781*85$+8$
2 $"$,"';* #$ " .,$0 / & /0 #$ ) .4+ ē #ũ 42! ũ(,/4+2 1ũ(-5#2ı 3(% !(.-#2ũ04#ũ1#2/.-" -ũ ũ+ 2ũ-#!#ı 2(" "#2ũ"#ũ+ ũ-( #9ũ8ũ ".+#2!#-!( ē
5"'* #$ ($*0+ 1) *+ /%+./$ 4 )! /$"0+. $( '/-1$ )
&216,'(5$1'2
92/817$5,$'2
(/ 92/817$5,$'2 '(/ +263,7$/ ³'5 -8/,2 (15,48( 3$5('(6 & ´ 62/&$ ± $0%$72
$&8(5'$ )HOLFLWDU D OD (6)256( SRU FHOHEUDU VX ;;, DQLYHUVDULR GH FUHDFLyQ +263,7$/ 21&2/2*,&2 62/&$ $0%$72
! " & # % &" $
4XH OD (VFXHOD GH )RUPDFLyQ GH 6ROGDGRV (6)256( VH HQFXHQWUD FHOHEUDQGR VX ;;, $QLYHUVDULR GH FUHDFLyQ DO VHUYLFLR GH OD FRPXQLGDG WXQJXUDKXHQVH \ GHO SDtV
$JUDGHFHU OD FRODERUDFLyQ RSRUWXQD \ GHVLQWHUHVDGD TXH EULQGy DO 9ROXQWDULDGR GHO +RVSLWDO 6ROFD ± $PEDWR HQ OD ³&DUUHUD N ± 6ROLGDULGDG´ $XJXUDU p[LWRV HQ VX ODERU GH VHUYLFLR GLDULR \ HQ OD IRUPDFLyQ GH VROGDGRV TXH VHUYLUiQ D QXHVWUD 3DWULD (QWUHJDU HO RULJLQDO GHO SUHVHQWH DFXHUGR FRPR PDQLIHVWDFLyQ GH QXHVWUR UHFRQRFLPLHQWR \ JUDWLWXG
'DGR HQ OD FLXGDG GH $PEDWR D ORV YHLQWH \ RFKR GtDV GHO PHV GH )HEUHUR GHO GRV PLO RQFH $PEDWR PDU]R GHO
6UD 0DUJDULWD 7RXPD 35(6,'(17$
6UD 0yQLFD 0D\RUJD 6(&5(7$5,$
āĉ
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
, -ŋ, , .#0 -ŋ (ŋ )-ŋ ( -ŋ 23 2ũ. 1 2ũ/#1,(3(1;-ũ 31 #1ũ ũ,;2ũ341(2ı 3 2ũ/ 1 ũ04#ũ"(2$143#-ũ"#+ũ!+(, ũ8ũ"#ũ+.2ũ #++.2ũ/ (2 )#2ũ- 341 +#2ũ04#ũ3(#-#ũ! " ũ 4-.ũ"#ũ+.2ũ! -3.-#2ũ"#ũ 4-%41 '4 ē $ 9ed [b fhef i_je Z[ c[#
35,0(5$ &2192&$725,$ $62&,$&,Ï1 0878$/,67$ $0%$72 '( $+2552 < &5e',72 3$5$ /$ 9,9,(1'$ 'H FRQIRUPLGDG FRQ ODV GLVSRVLFLRQHV OHJDOHV YLJHQWHV FRQYRFD D VXV DVRFLDGRV \ D OD ILUPD GH $XGLWRULD ([WHUQD &RQVXOWRUHV 0RUiQ &HGLOOR &tD /WGD D OD -817$ *(1(5$/ 25',1$5,$ $18$/ D UHDOL]DUVH HO GH 0DU]R GHO D ODV KRUDV HQ HO $XGLWRULR GH OD ,QVWLWXFLyQ $Y &HYDOORV \ 0HUD VHJXQGR SLVR (O 2UGHQ GHO 'tD D WUDWDUVH FRQVWD D FRQWLQXDFLyQ
O &RQVWDWDFLyQ GHO TXyUXP UHJODPHQWDULR H LQVWDODFLyQ GH OD -XQWD (OHFFLyQ GHO 3UHVLGHQWH \ 6HFUHWDULR GH OD -XQWD *HQHUDO /HFWXUD GH ,QIRUPHV 'HO 'LUHFWRULR GH 0XWXDOLVWD $PEDWR 'H $XGLWRULDV $XGLWRULD ,QWHUQD $XGLWRULD ([WHUQD &RQRFLPLHQWR GH ORV (VWDGRV )LQDQFLHURV \ RWURV D 'LFLHPEUH GHO &RQRFLPLHQWR GHO 3UHVXSXHVWR SDUD HO $xR \ 3ODQ (VWUDWpJLFR $QiOLVLV GH OD 6LWXDFLyQ )LQDQFLHUD 1RPEUDPLHQWR GH $XGLWRULD ([WHUQD SDUD HO SHUtRGR &RQRFLPLHQWR GH UHQXQFLDV \ HOHFFLyQ GH GRV YRFDOHV SULQFLSDOHV \ WUHV YRFDOHV VXSOHQWHV GHO 'LUHFWRULR GH $0$ SDUD HO SHUtRGR (OHFFLyQ GH XQ UHSUHVHQWDQWH SULQFLSDO \ XQ VXSOHQWH SDUD OD -XQWD *HQHUDO GH $VRFLDGRV GHO DxR &RQRFLPLHQWR \ UHVROXFLyQ VREUH SURSXHVWDV GH IXVLyQ \ R DVRFLDFLyQ HVWUDWpJLFD /HFWXUD \ DSUREDFLyQ GHO $FWD 127$ 'H DFXHUGR D ORV (VWDWXWRV ORV DVRFLDGRV DFUHGLWDUiQ VX GHUHFKR DO YRWR SUHVHQWDQGR HO GtD LQGLFDGR VX OLEUHWD GH DKRUURV \ VX FpGXOD GH LGHQWLGDG FRQ DQWHULRULGDG DO LQLFLR GH OD -XQWD 'H QR FRQWDUVH FRQ HO TXyUXP UHJODPHQWDULR D OD KRUD SUHYLVWD VH UHDOL]DUi XQD VHJXQGD FRQYRFDWRULD 6H DQXOD \ TXHGD VLQ HIHFWR OD SULPHUD FRQYRFDWRULD D OD -XQWD *HQHUDO 2UGLQDULD FLWDGD SDUD HO GtD GH PDU]R GH WRGD YH] TXH HQ HOOD VH RPLWLy HO FRQRFLPLHQWR \ UHVROXFLyQ UHVSHFWR GHO FRQWHQLGR HQ HO SXQWR GH OD SUHVHQWH FRQYRFDWRULD
'U 5RGULJR $QGDJDQD 0RUD 3UHVLGHQWH
`ehWh bW _cW][d o [b ehdWje Z[ bei Y[djhei fWhhegk_Wb[i Z[ bW fhel_dY_W" o Yece fWhj[ \kdZW# c[djWb Z[b fhe]hWcW Z[ c[`ehW# c_[dje" [b =eX_[hde Fhel_dY_Wb Z[ Jkd]khW^kW [`[Ykj [b WZe# gk_dWZe Z[ bWi YWbb[i Y[djhWb[i
o [b fWhgk[ [d bW fWhhegk_W Bei 7dZ[i Z[ FWjWj[$ ;ijWi eXhWi \k[hed [djh[]W# ZWi feh <[hdWdZe DWhWd`e" fh[# \[Yje Z[ Jkd]khW^kW [d kd WYje eh]Wd_pWZe feh bW @kdjW FWhhe# gk_Wb Z[ Bei 7dZ[i$ Bei jhWXW`ei Z[ c[`ehWc_[dje Yedj[cfbWd [b WZegk_dWZe Z[ bW l W gk[ lW Z[iZ[ [b _d]h[ie W bW fWhhegk_W o gk[ WjhWl_[iW feh [b ikXY[djhe Z[ iWbkZ" ^WijW bb[]Wh W bW [iYk[bW Z[b bk]Wh$ 7Z_Y_edWbc[dj[ i[ Yedijhko [b fWhgk[" gk[ Yk[djW Yed `WhZ_# d[hWi" XWdYWi o bWi h[if[Yj_lWi
>L<N>E: => ?HKF:<BHG => LHE=:=HL
O>G<>=HK>L =>E <>G>I:
6
bkc_dWh_Wi" gk[ ZWd kdW dk[lW _cW][d fWhW iki ^WX_jWdj[i o bW ]hWd YWdj_ZWZ Z[ l_i_jWdj[i gk[ bb[]Wd W [ijW fWhhegk_W" YWhWY# j[h_pWZW feh ik Yb_cW W]hWZWXb[ o lWh_WZW fheZkYY_ d Z[ \hkjei" ^ehjWb_pWi" [djh[ ejhei$ <k[hed +, c_b -'+ Z bWh[i gk[ i[ _dl_hj_[hed [d [b c[`ehWc_[d# je Z[ [ij[ Y[djhe fWhhegk_Wb" gk[ W^ehW [ij| fh[ije W e\h[Y[h kd bk]Wh Xed_je" WYe][Zeh" i[]khe o cko Wfje fWhW [b fWi[e o [b Z[i# YWdie \Wc_b_Wh$ Bei ^WX_jWdj[i Z[ bW fWhhe# gk_W o iki Z_h[Yj_lei [ij|d iWj_i# \[Y^ei Wb YedjWh Yed eXhWi gk[ WfehjWd Wb Z[iWhhebbe jkh ij_Ye o ieXh[jeZe fehgk[ Jkd]khW^kW o iki fWhhegk_Wi ied Z[ij_dei jkh ij_Yei W [iYWbW fhel_dY_Wb" dW# Y_edWb [ _dj[hdWY_edWb" Wb YedjWh Yed ^[hceiei bk]Wh[i" WZ[c|i Z[ bW YWb_Z[p o ^eif_jWb_ZWZ Z[ bW ][dj[$
5
8 8 8
6 7
%#%-#(9+ $% #!/-%1!0 '!01! $% *!/3, 4#(+! $% !)%+1, 2*!+, 0&,/0% 3!*"! 0%#1,/ %) (0.2% *
ēũ -ũ,4!'.2ũ"#ũ+.2ũ ! -3.-#2ũ2#ũ#)#!43 -ũ#23#ũ3(/.ũ"#ũ . 1 2ũ04#ũ/#1,(3(1;-ũ"(2$143 1ũ"#ũ+.2ũ / (2 )#2ũ ũ+.2ũ341(23 2ēũ
&2192&$725,$ $ -817$ *(1(5$/ 25',1$5,$ '( $&&,21,67$6 '( /$ &203$fË$ 0(752$0%$72 6 $ 'H FRQIRUPLGDG FRQ OR TXH GLVSRQH HO DUWtFXOR GH OD /H\ GH &RPSD xtDV \ HQ FRQFRUGDQFLD FRQ HO DUWtFXOR VpSWLPR GHO (VWDWXWR 6RFLDO VH FRQYRFD D ORV VHxRUHV DFFLRQLVWDV GH OD FRPSDxtD 0(752$0%$72 6 $ D OD -XQWD *HQHUDO 2UGLQDULD TXH VH OOHYDUi D FDER HQ OD FLXGDG GH $PEDWR SURYLQFLD GH 7XQJXUDKXD HO GtD OXQHV GH 0DU]R GH D SDUWLU GH ODV HQ HO VDOyQ ³4XLQWD /RUHQ´ XELFDGR HQ OD FDOOH ³/RV 7D[RV´\ $Y ³/RV *XD\WDPERV´ XUEDQL]DFLyQ /RUHQ EDUULR )LFRD SDUD FRQRFHU \ UHVROYHU ORV VLJXLHQWHV SXQWRV &RQRFHU \ SURQXQFLDUVH VREUH HO ,QIRUPH GHO 3UHVLGHQWH FRUUHVSRQGLHQWH DO (MHUFLFLR (FRQyPLFR GHO DxR &RQRFHU \ SURQXQFLDUVH VREUH HO ,QIRUPH GHO *HUHQWH FRUUHVSRQGL HQWH DO (MHUFLFLR (FRQyPLFR GHO DxR &RQRFHU \ SURQXQFLDUVH VREUH HO ,QIRUPH GHO &RPLVDULR 5HYLVRU FRUUHVSRQGLHQWH DO (MHUFLFLR (FRQyPLFR GHO DxR &RQRFHU \ SURQXQFLDUVH VREUH ORV EDODQFHV HVWDGRV GH SpUGLGDV \ JDQDQFLDV \ VXV DQH[RV FRUUHVSRQGLHQWH DO HMHUFLFLR HFRQyPLFR GHO DxR 5HVROYHU VREUH HO GHVWLQR GH ORV UHVXOWDGRV GHO HMHUFLFLR HFRQyPLFR GHO DxR 1RPEUDPLHQWR GH 3UHVLGHQWH 1RPEUDPLHQWR GH *HUHQWH *HQHUDO 1RPEUDPLHQWR GH &RPLVDULR 5HYLVRU \ ILMDFLyQ GH VXV KRQRUDULRV /HFWXUD \ DSUREDFLyQ GHO DFWD GH OD SUHVHQWH -XQWD
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
6H FLWD GH PDQHUD HVSHFLDO DO VHxRU 0DUFHOR 1DUDQMR 3DFKHFR &RPLVD ULR 5HYLVRU GH OD &RPSDxtD D TXLHQ WDPELpQ VH OR HVWi FRQYRFDQGR SRU HVFULWR /RV GRFXPHQWRV TXH YD D VHU FRQRFLGRV SRU OD -XQWD KDQ HVWDGR \ HVWiQ D GLVSRVLFLyQ GH ORV DFFLRQLVWDV SDUD VX UHYLVLyQ HQ OD VHGH VRFLDO GH OD FRPSDxtD XELFDGD HQ OD FLXGDG GH $PEDWR $PEDWR GH PDU]R GH 6U 3DWULFLR &XHVWD 9iVFRQH] 35(6,'(17(
,QJ 3DPHOD $ULDV 6DUDVW\ *(5(17( *(1(5$/
"3 )/+"3 %& 6*%" %&#&2@. 3&2 &.6*"%"3 ", 3*(5*&.4& $/22&/ */$)/" )*%2/0"34"9" (/# &$ # *2/ "-*,/ /2@. "2*%5&A"
) ( # ŋ (ŋðŋ -. ŋ *),.#0 +ũ -(¢-ũ !(.- +ũ"#ũ "4! ".1#2ũĸ Ĺũ Ì!+#.ũ"#ũ #+(+#.ũ(- 4%41¢ũ#+ũ! ,ı /#.- 3.ũ"#ũ$Ì3 .+ũ#-ũ#+ũ04#ũ/ 13(!(/ -ũ+.2ũ".!#-3#2ũ"#/.13(23 2ũ"#ũ+.2ũ"($#ı 1#-3#2ũ!.+#%(.2ũ8ũ#2!4#+ 2ũ"#ũ#23#ũ! -3¢-ũ34-%41 '4#-2#ēũ +ũ !3.ũ"#/.13(5.ı 2#ũ!4,/+(¢ũ 8#1ũ#-ũ#+ũ#23 "(.ũ! -3.- +ũ ũ/ 13(1ũ"#ũ+ 2ũĈĉĖĊćē
¡ ēũ 4~2ũ ,.2Ĕũ".!#-3#ũ"#ũ+ ũ#2!4#+ ũ .,(-%.ũ 423(-.ũ 1,(#-3.Ĕũ /.13¢ũ+ ũ3# ũ.+~,/(! ũ)4-3.ũ ũ.31.2ũ1#/1#2#-3 -3#2ē
7 āĂŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
āĊ
ēũ ũ%4 / ũ 82(ũ ¢/#9Ĕũ"#+ũ !.+#%(.ũ 1( -.ũ #-~3#9Ĕũ$4#ũ"#2(%ı - " ũ!.,.ũ # .1(3 ũ #/.13#2ē
} ēũ .2ũ1#/1#2#-3 -3#2ũ"#+ũ!.+#%(.ũ 1( -.ũ #-~3#9ũ2#ũ ,.231 1.-ũ +#%1#2ũ"#ũ/ 13(!(/ 1ũ#-ũ#23#ũ! ,/#.- 3.ũ$43 .+~23(!.ē
¡ ēũ +ũ -23(343.ũ #!-.+¢%(!.ũ 4/#1(.1ũ #+(+#.ũ3 , (_-ũ/ 13(!(/ ũ #-ũ#23 ũăũ#23 ũ"#/.13(5 ē
ēũ ũ"#+#% !(¢-ũ"#+ũ -23(343.ũ _!-(!.ũ 4 2(,/ , Ĕũ#2/#1 ũ"#) 1ũ#-ũ +3.ũ#+ũ-., 1#ũ"#ũ24ũ(-23(34!(¢-ē
ŋ
+ ! %# ) %" $% " & ! ( "' # * "!"$
Čć! (-!+ēũ : ũũĈĉũ ũ ũ ũĉćĈĈ
4-%41 '4
ũ
¡ũ ũ
Čćũ :
2ũ/.!. , +#
4+!#ũ 1~ ũ#2!1( (¢ũ 4- ũ#231.$ ũ#-ũ 6(3ı 3#1ũ".-"#ũ2(-ũ3 !3.ũ ,#-!(.- ũ +ũ324- ,(ũ 8ũ ũ /¢-ēũ ũ!1(3(! -ũ "#ũ(-2#-2( +#ũ8ũ/.!.ũ 3(- " ēũ : ũ ĈĈ
.1ũ4- ũ24/4#23 ũ$ ++ ũ,#!;-(! ũ#+ũ5#'~!4+.ũ 9" ũ!.-ũ /+ ! ũ ıďĒĒĔũ!.+.1ũ 94+Ĕũ04#ũ!(1!4+ ũ#-ũ"(1#!!(¢-ũ.1(#-ı 3#ı.!!("#-3#Ĕũ2#ũ#231#++¢ũ 8#1ũ!.-31 ũ4- ũ/# ũ"#ũ+ ũ5~ ũ ũ .2Ĕũ2#!3.1ũ #11#,.3.Ĕũ ũ+ 2ũĈĊĖČćũ"#ũ 8#1ēũ : ũ ĈĊ
.2ũ)45#-(+#2ũ/.1ũ#+ũũ 4-"( +ũ"#ũ Ì3 .+
ũ 4 ũĈĐũ"#ũ !4 ".1ũ(-(!( ũ'.8ũ -3#ũ .+(ı 5( ũ#+ũ! ,(-.ũ +ũ 4-"( +ũ"#ũ+ ũ! 3#%.1~ ē
;2ũ2#%41(" "ũ / 1 ũ#+ũ!+;2(!. 1 ũ#+ũ!.3#).ũ#-31#ũ ! 1;ũ8ũ _!-(!.ũ -(ı 5#12(3 1(.ũ2#ũ' -ũ3., ".ũ 3." 2ũ+ 2ũ,#"(" 2ũ"#ũ 2#%41(" "ũ1#2/#!3(5 2ēũ
2ũ 43.1(" "#2ũ/("(#1.-ũ ũ+ ũ!(4" " -~ ũ5(5(1ũ+ ũ ĥăũ#23 ũ"#+ũ$Ì3 .+ũ+.! +Ħũ !.-ũ,#241 ũ8ũ1#2/#3.ēũ : ũ Ĉĉ
.1ũ/.!.ũ, 3 ũ ũ24ũ/1./(.ũ'().
;%(- ũ ĈĎ
4/4#23 ,#-3#ũ/.1ũ31 #1ũ, + 2ũ! +(ı ăũ! !(.-#2Ĕũ 1+.2ũ Ĕũ+#ũ/1./(-¢ũ5 1(.2ũ %.+/#2ũ ũ24ũ'().Ĕũ04#ũ/.1ũ/.!.ũ+.ũ, 3 ēũ
ũ %1#2(¢-ũ.!411(¢ũ 8#1Ĕũ ũ5(23 ũ"#ũ3.ı ".2ũ#-ũ#+ũ2#!3.1ũ"#+ũ .+(2#.ũ #11 ".ē : ũ ĈĊ
<EJE 7H9>?LE