Čć! (-!+ēŊ Äž ĹŠ } Ä? ƒ
. (#1-.ĹŠ1# !!(.- ĹŠ -3#ĹŠ!1~3(! 2ĹŠ#73#1- 2 ;%(- ĹŠ Ĉ
4-%41 '4
ĹŠĹŠÄˆÄ?ĹŠĹŠ ĹŠ ĹŠ ĹŠÄ‰Ä‡ÄˆÄˆ ƒ
4" 2ĹŠ/.1ĹŠ+(23 ĹŠ"#ĹŠ 2ĹŠ!($1 2ĹŠ"#ĹŠ ! -"(" 3.2ĹŠ ĹŠ (2! +ĹŠĹŠ "#+(3.2ĹŠ 4,#-3 ĹŠ ;%(- ĹŠ Ä?
;%(- ĹŠ Ĉ
-ĹŠ".,(-%.ĹŠ++#-.ĹŠ"#ĹŠ$#
.2Ŋ!.-31.+#2Ŋ2#Ŋ " 1;-Ŋ$4#1 Ŋ"#Ŋ+ 2Ŋ (%+#2( 2Ŋ! 3¢+(! 2Ŋ / 1 Ŋ#5(3 1Ŋ+ Ŋ5#-3 Ŋ "#Ŋ+ Ŋ/ +, Ŋ"#Ŋ!#1 ē
:[iZ[ cko j[cfhWde" bei j[c# fbei Z[ bW Y_kZWZ WXh_h|d iki fk[hjWi fWhW h[Y_X_h W bei YWjÂŒb_# Yei [d [ij[ Ăˆ:ec_d]e Z[ HWceiÉ" gk[ ZW _d_Y_e W bW I[cWdW IWdjW" ZedZ[ bW \[ Yh_ij_WdW i[ h[dk[lW o i[ Yecfhec[j[ W i[]k_h [b YWc_# de Z[b X_[d$ I[ WdkdY_Wd h[Yehh_Zei e fh[# Y[i_ed[i Z[ bei Yh[o[dj[i feh bei Wbh[Z[Zeh[i Z[ bei j[cfbei Z[ bW Y_kZWZ$ 7gk‡ de [i d[Y[iWh_e bW Yec# fhW Z[ fWbc[hWi fWhW X[dZ[Y_h# bWi" oW gk[ Yed jWd iÂŒbe bb[lWh fbWdjWi" WZehdei e Ă“ eh[i" i[h| ikĂ’ Y_[dj[$ 7Z[c|i Z[ [bbe" ]hkfei Wc# X_[djWb_ijWi jhWXW`Wh|d [d Yed# `kdje Yed bW Feb_Y‡W DWY_edWb" ÂĄ ēŊ .8ĹŠ+ ĹŠ #-"(!(¢-ĹŠ/.1ĹŠ#+ĹŠ .,(-%.ĹŠ"#ĹŠ ,.2ĹŠ2#ĹŠ" 1;ĹŠ#-ĹŠ3.".2ĹŠ+.2ĹŠ3#,/+.2ĹŠ! 3¢+(!.2ĹŠ"#ĹŠ+ ĹŠ!(4" "Ä“ fWhW l[h_Ă’ YWh gk[ \k[hW Z[ bei j[cfbei de i[ [nf[dZWd bei ĂˆhW# Z_e WcX_[dj[ o [b ^|X_jWj Z[ Wb# ik i[cWdW cWoeh" gk[ cWhYW XkiYWh ik f[hZÂŒd Z_l_de o X[d# ceiÉ e fWbcWi Z[ Y[hW" [ije Yed ]kdWi Wl[i$ [b _d_Y_e Z[ kdW l_ZW ehZ[dWZW Z_Y_ÂŒd$ [b fhefÂŒi_je Z[ fh[i[hlWh [b c[# 7i‡" [b ckdZe Yh_ij_Wde _d_Y_W o b_cf_W" fWhW W]hWZWh W :_ei o ;%(- ĹŠ ĉ
ŋðŋ -. Ĺ‹ . /,#( Ĺ‹ (Ĺ‹ #) ' BW WĂ’ Y_ÂŒd o bW Ă’ [ijW [d ][d[hWb l_l[d Z[ bW _bki_ÂŒd" f[he de Z[ bW _bki_ÂŒd Yece Wb]e gk[ fWh[# Y[ f[he de [i" i_de Z[ bW _bki_ÂŒd Wkj[dj_YW Z[ WYkZ_h W bW fbWpW Z[ jehei c|i ieb[hW gk[ j_[d[ [b ;YkWZeh Yece be [i bW ĂˆHW‘b :|lWbeiÉ Z[ H_eXWcXW$ Bei WĂ’ Y_edWZei Wb_ijWd ik Xk[d l_de o ik Y^WlWb[hW" fWhW bei Z‡Wi (' o () Z[ WXh_b fWhW l[h [i[ Ăˆf[gk[‹eÉ c_bW]he gk[ b[i e\h[Y[d bei jeh[hei [d YWZW ]hWd \W[dW" o bei WĂ’ Y_edWZei fhel_dY_Wdei jWcX_ƒd ^WY[d cWb[jWi fWhW Whh_XWh W bW Ikb# jWdW Z[ bei 7dZ[i" fehgk[ b[i ZW ]WdWi Z[ lebl[h kdW o ejhW l[p W l[h bWi Yehh_ZWi Z[ jehei gk[ i[ ZWd [d [b fW‡i$ ;%(- ĹŠ Ä‘
ēŊ 4(++#1,.Ŋ + ;-Ŋ !34 1;Ŋ #+ŊĉĊŊ"#Ŋ 1(+Ŋ#-Ŋ+ Ŋ$#1( Ŋ3 41(- ē
ĹŠ
4 Ä–ĹŠ #"(.ĹŠ 2(%+.ĹŠ"#ĹŠ 2.!( +(2,.ĹŠ
ĹŠ - ĔŊ ĔŊ ŊĹŊ 4 ĹŠ #7 +3¢Ŋ 8#1ĹŠ 242ĹŠ ĎćŊ  .2ĹŠ "#ĹŠ 2.!( +(2,.ĹŠ 8ĹŠ + ĹŠ 5(!3.1( ĹŠ "#ĹŠ + 8 ĹŠ (1¢-ĹŠ ĸ '~ ĹŠ "#ĹŠ .!'(-.2ĚŊ!.-ĹŠ4,4+3(34"(- 1(.ĹŠ"#2ÄƒĹŠ+#ĹŠ,(+(3 1ĹŠ 8ĹŠ /./4+ 1ĹŠ !#+# 1 ".ĹŠ #-ĹŠ ĹŠ - ĔŊ/1#5(.ĹŠ ĹŠ+ ĹŠ(- 4%4Äą 1 !(¢-ĹŠ "#+ĹŠ ĹŠ .-%1#2.ĹŠ "#+ĹŠ 13(".ĹŠ .,4-(23 ĹŠ ĸ ĚēŊ ;%(- ĹŠ Ä‘
ēŊ +Ŋ#"(+Ŋ 1!.Ŋ 1 4).Ŋ#-Ĺ 31#%¢Ŋ#+Ŋ/1#,(.Ŋ Ŋ 1(23(- Ŋ 4- , ĔŊ 1#(- Ŋ"#Ŋ 3 3#ē
#( -Ĺ‹ Ĺ‹ . . Ĺ‹ , # (Ĺ‹*, '#)9ece h[YedeY_c_[dje \hW# j[hde W ik fWhj_Y_fWY_ÂŒd [d [b Y[hjWc[d ]WbWdj[ Z[ [b[YY_ÂŒd Z[ bW dk[lW ieX[hWdW Z[ bei fWjWj[‹ei" bWi ]kWfWi fWhj_# Y_fWdj[i h[Y_X_[hed fh[c_ei [if[Y_Wb[i feh fWhj[ Z[ bWi Wkjeh_ZWZ[i YWdjedWb[i$ ;%(- ĹŠ Ĉđ
666Ä“+ '.1 Ä“!.,Ä“#!
&Ĺ‹'/( )Ĺ‹ ,#-.# ()Ĺ‹ & , ŋĒ&)-Ĺ‹, ')-Ä“ Ä‚ 0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?Ä ÄˆĹ? 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
-ĹŠ"#2! -2.ĹŠ ,#1#!(". - ĹŠ, 2!.3 ĹŠ3., ĹŠ2.+ĹŠ+ ĹŠ ,  - ĹŠ"#ĹŠ 8#1ĹŠ#-ĹŠ4- ĹŠ#204(- ĹŠ "#+ĹŠ/ 104#ĹŠÄˆÄ‰ĹŠ"#ĹŠ .5(#, 1#ĔŊ+.ĹŠ04#ĹŠ ++ ,¢Ŋ+ ĹŠ 3#-!(¢-ĹŠ"#ĹŠ+.2ĹŠ31 -2#ĂŒ-Äą 3#2ĹŠ04#ĹŠ+ ĹŠ!.-3#,/+ 1.-Ä“
.2Ŋ 5#'(!4+ 1 -Ŋ+ 2Ŋ'.1 2Ŋļ/(!.ČŊ2#Ŋ%#-#1 Ŋ4-Ŋ ! .2Ŋ5#'(!4+ 1#2Ŋ#-Ŋ+ Ŋ ) " Ŋ"#Ŋ+ Ŋ 5#-(" Ŋ .2Ŋ -"#2Ŋ8Ŋ 2/#).ēŊ 04~Ŋ #2Ŋ-#!#2 1(.Ŋ+ Ŋ/1#2#-!( Ŋ/.+(!( +ē
#2"#ĹŠ+ 2ĹŠ/1(,#1 2ĹŠ '.1 2ĹŠ"#ĹŠ+ ĹŠ,  - ĹŠ "#ĹŠ'.8ĹŠ+ 2ĹŠ(%+#2( 2ĹŠ ! 3¢+(! 2ĹŠ 1(1;-ĹŠ242ĹŠ /4#13 2ĹŠ +ĹŠ/4# +.Ä“ FWhW [b ckdZe YWjÂŒb_Ye _d_Y_W ^eo kdW i[cWdW Z[ Yedl[hi_ÂŒd o Z[ ^kc_bZWZ Yed [b jhWZ_Y_edWb Ăˆ:ec_d]e Z[ HWceiÉ" ZedZ[ bW \[ i[ _cfed[ [d bei j[cfbei o bei h[Yk[hZei l_[d[d W bW c[ceh_W Z[ gk_[d[i Yh[[d [d [b 9h_ije gk[ l_de W iWblWh Wb ckdZe$ Cƒb_ZW Gk_djWdW" YWh_ic|j_YW Z[b F[hf[jke IeYehhe" fWhhegk_W 7jeY^W#<_YeW" _dZ_YÂŒ gk[ [d [ij[ Z‡W i[ h[Yk[hZW [b _d]h[ie jh_kd\Wb Z[ @[i‘i W @[hkiWbƒd$ ÆJeZei bei YWjÂŒb_Yei Z[X[cei WY[hYWhdei W ƒb o YedeY[h jeZe be gk[ fk[Z[ ^WY[h feh deiejhei$ F[he [ie be iWXh[cei bk[]e Z[ gk[ ^WoWcei XehhWZe Z[ dk[ijhei Ye# hWped[i bW cWbZWZ" [b eZ_e o ieXh[ jeZe bW [dl_Z_WÇ" Yec[djÂŒ$ >Wo gk[ i[‹WbWh gk[ Z[iZ[ ^eo i[ ZW _d_Y_e W bW I[cWdW IWd# jW" Yed [b h[Yk[hZe Z[ bW fWi_ÂŒd o bW b_jkh]_W Z[ bW fWbWXhW gk[ [leYW [b [lWd][b_e$ Feh ik fWhj[ IW‘b 7YeijW" h[# b_]_eie Z[ bW fWhhegk_W _dZ_YWZW" Yec[djÂŒ gk[ bei j[cfbei YWjÂŒb_Yei Z[b ckdZe h[Yk[hZWd [ijW \[Y^W" [d ZedZ[ [b fk[Xbe Z[ck[ijhW ik \[ o iki ]WdWi Z[ i[]k_h Yh[o[dZe [d kd @[i‘i l_le$ Æ;ij[ Zec_d]e [if[hWcei W bei YWjÂŒb_Yei Z[iZ[ cko j[cfhW# de" gk_[d[i Z[X[d Yecfhec[j[h# i[ W i[]k_h iki fWie Z[ X_[d o Z[ WcehÇ" WYbWhÂŒ$ #3(!(.-#2ĹŠ Feh ejhe bWZe" YWj[gk_ijWi Z[ bW _]b[i_W BW :ebeheiW ^_Y_[hed kd
ēŊ +ĹŠ,4-".ĹŠ1# ÄƒĹŠ1, ĹŠ24ĹŠ"#5.!(¢-ĹŠ#ĹŠ(-3#1_2ĹŠ/.1ĹŠ (.2Ä“
bbWcWZe [if[Y_Wb W bei YWjÂŒb_Yei fWhW gk[ de bb[l[d bei ĂˆhWceiÉ e bW fWbcW Z[ Y[hW" oW gk[ i[ gk_[h[ [l_jWh bW Z[ijhkYY_ÂŒd Z[b c[Z_e WcX_[dj[$ Feh [bbe f_Z[d gk[ WYkZWd W bW c_iW Z[b Ăˆ:ec_d]e Z[ HWceiÉ Yed Ă“ eh[i" hec[he" fbWdjWi o Z[# c|i [b[c[djei gk[ de Wj[dj[d Wb c[Z_e WcX_[dj[$ ÆDeiejhei gk[h[cei gk[ bW ][dj[ jec[ YedY_[dY_W o de Yec# fh[ bW fWbcW Z[ Y[hW" oW gk[ Wgk‡ iÂŒbe [i d[Y[iWh_e ik \[ o ik _dj[hƒi feh YWcX_Wh Wb ckdZe o Yedl[h# j_hbe [d kd i_j_e Z[ fWp o Whce# d‡WÇ" fkdjkWb_pÂŒ CWhb[d[ Fƒh[p" `el[d YWj[gk_ijW$
1;!3(! 2ĹŠ -!#231 +#2 Ĺ—ĹŠĹŠ
#2"#ĹŠ' !#ĹŠ5 1(.2ĹŠ  .2ĹŠ+.2ĹŠ !1#8#-3#2ĹŠ !4"~ -ĹŠ!.-ĹŠ+.2ĹŠÄĽ1 ,.2ÄŚĹŠ .ĹŠ/ +, ĹŠ"#ĹŠ!#1 ĹŠ ĹŠ+ 2ĹŠ(%+#2( 2ĹŠ/ 1 ĹŠ #-"#!(1+.2ĹŠ#-ĹŠ4- ĹŠ!#1#,.-( ĔŊ -3#2ĹŠ"#ĹŠ(-(!( 1ĹŠ4- ĹŠ/1.!#2(¢-ĹŠ/.1ĹŠ + 2ĹŠ! ++#2ĹŠ" ĹŠ+ ĹŠ!(4" "ĔŊ' 23 ĹŠ++#% 1ĹŠ +ĹŠ 3#,/+.ĹŠ#-ĹŠ04#ĹŠ2#ĹŠ!#+# 1 ĹŠ4- ĹŠ,(2 ĹŠ #2/#!( +ēŊ (-ĹŠ#, 1%.ĔŊ"#2"#ĹŠ".2ĹŠ  .2ĹŠ + ĹŠ5#-3 ĹŠ"#ĹŠ/ +, ĹŠ"#ĹŠ!#1 ĹŠ#23;ĹŠ /1.'( (" ĹŠ ĹŠ-(5#+ĹŠ- !(.- +ĹŠ8ĹŠ ĹŠ! , (.ĹŠ "#ĹŠ#++.ĹŠ+.2ĹŠÄƒĹŠ#+#2ĹŠ"# #-ĹŠ++#5 1ĹŠ.31.2ĹŠ #+#,#-3.2ĹŠ- 341 +#2Ä“
.! ĹŠ 2(23#-!(
Ŋ#-31#% Ŋ"#Ŋ/ 3#-3#2Ŋ,4-(!(/ +#2Ŋ$4#Ŋ,~-(, Ŋ 8#1ĔŊ,(#-31 2Ŋ#-31#Ŋ 2#, - Ŋ' 8Ŋ %+.,#1 !(¢-ĔŊ3., -".Ŋ#-Ŋ!4#-3 Ŋ04#Ŋ+ Ŋ#-31#% Ŋ2#Ŋ + Ŋ' 1;Ŋ2.+.Ŋ' 23 Ŋ,#"( ".2Ŋ"#Ŋ)4+(.ēŊ 23 Ŋ#+Ŋ,.,#-3.ĔŊ2#Ŋ' -Ŋ #-31#% ".Ŋ +1#"#".1Ŋ"#Ŋ2#(2Ŋ,(+Ŋ/ 3#-3#2Ŋ"#ŊĊĎŊ,(+Ŋ04#Ŋ#2Ŋ+ Ŋ 2#Ŋ "#Ŋ424 1(.2Ŋ04#Ŋ3(#-#Ŋ#+Ŋ 4-(!(/(.Ŋ"#Ŋ , 3.ē
Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
ĹŠ +ĹŠ/#2! ".ĹŠ2#ĹŠ+.ĹŠ 5#-"#ĹŠ#-ĹŠ#+ĹŠ,#1Äą ! ".ĹŠ ."#+.ĹŠ8ĹŠ #-ĹŠ+ ĹŠ3#1!#1 ĹŠ /+ -3 ĹŠ"#+ĹŠ #-31.ĹŠ 13#2 - +ĹŠ , 3.Ä“
ēŊ 81( ,Ŋ 4 #9Ŋ5#-"#ŊŊ/#2! ".Ŋ2#!.Ŋ Ŋ+ 2Ŋ , 2Ŋ"#Ŋ! 2 Ŋ04#Ŋ !4"#-Ŋ +Ŋ #-31.Ŋ 13#2 - +ē
3Ĺ‹#( , ' (.)Ĺ‹ (Ĺ‹ &Ĺ‹ )-.)Ĺ‹ &Ĺ‹* - )Ĺ‹- )Ĺ‹ (Ĺ‹& Ĺ‹/,
2ĹŠ , 2ĹŠ"#ĹŠ! 2 ĹŠ "(!#-ĹŠ-.ĹŠ#23 1ĹŠ2#Äą %41 2ĹŠ"#ĹŠ04#ĹŠ' 8 ĹŠ +%ĂŒ-ĹŠ3(/.ĹŠ"#ĹŠ!.-31.ĹŠ "#ĹŠ+ 2ĹŠ 43.1(" "#2Ä“ Bk[]e Z[ gk[ bWi Yec[hY_Wdj[i Z[ lWh_Wi j_[dZWi Z[ WXWijei Z[b c[h# YWZe CeZ[be i[‹WbWhWd Z‡Wi Wjh|i gk[ bW b_XhW Z[ f[iYWZe i[Ye c[he [ijWXW [d eY^e ZÂŒbWh[i" W^ehW [b ?dj[dZ[dj[ Z[ Feb_Y‡W" 7b[n 8WbbW# ZWh[i" _dZ_YÂŒ gk[ [b fh[Y_e eĂ’ Y_Wb [i Z[ dk[l[ ZÂŒbWh[i$ ;ije f[h`kZ_YW W Wgk[bbWi \W# c_b_Wi WcXWj[‹Wi gk[ YWZW W‹e h[Wb_pWd [b fbWje jhWZ_Y_edWb Z[
bW \Wd[iYW feh bW ƒfeYW Z[ I[# cWdW IWdjW$ BW Wkjeh_ZWZ Z[ Yedjheb i[‹WbÂŒ [b `k[l[i gk[ [ijW h[iebkY_ÂŒd i[ bW jecÂŒ bk[]e Z[ kd WfWh[dj[ Z_|be# ]e [djh[ bWi Yec[hY_Wdj[i Z[ bei Z_\[h[dj[i Y[djhei Z[ Yec[hY_e Z[ bW Y_kZWZ" [if[Y_Wbc[dj[ Yed Wgk[bbWi gk[ [nf[dZ[d [b fheZkY# je [d [ijW ƒfeYW$ Æ;b fh[Y_e ^W lWh_WZe [d bei f[iYWZei c[he" XWYWbWe" b_iW o bed# `W" bei YkWb[i bb[]Wd Z[ =Wb|fW]ei$ Feh [bbe i[ ^W [ijWXb[Y_Ze fh[Y_ei Z[ /" -" + o * ZÂŒbWh[i" h[if[Yj_lW# c[dj[ Z[ YWZW [b[c[djeÇ" WYbWhÂŒ$ I_d [cXWh]e [ijW i_jkWY_ÂŒd ceb[ijW W bWi WcWi Z[ YWiW o ieXh[ jeZe W gk_[d[i j_[d[d feh d[]eY_e h[ijWkhWdj[i$ ÆBW i[cWdW fWiWZW Yecfhƒ ZedZ[ kdW YWi[hW W eY^e
ZÂŒbWh[i [b c[he o W^ehW gk[ leo dk[lWc[dj[ c[ Z_Y[ gk[ oW ik# X_ÂŒ fehgk[ [b fh[Y_e eĂ’ Y_Wb [i Z[ dk[l[ ZÂŒbWh[i$ ;ije de [i `kije" [b Yedjheb o bWi Z_ifei_Y_ed[i Z[X[d ZWhi[ Wdj[i Z[ gk[ _d_Y_[ bW l[djW Z[b fheZkYjeÇ" cWd_\[ijÂŒ Coh_Wc 9bWl_`e" fhef_[jWh_W Z[ kdW cW# h_igk[h‡W$ :[ _]kWb \ehcW" i[ Z_Y[ gk[ [b _dYh[c[dje Z[b fheZkYje f[h`kZ_YW [b Xebi_bbe Z[ bei Yed# ikc_Zeh[i" [d [if[Y_Wb Z[ gk_[# d[i fh[Ă’ [h[d Z[]kijWh [b fbWje Z[ \Wd[iYW \k[hW Z[ YWiW$ ;2ĹŠ!.-31.+#2 Feh ejhe bWZe" 8WbbWZWh[i _dZ_YÂŒ gk[ [b fWiWZe Ă’ d Z[ i[cWdW h[W#
b_pŒ Yedjheb[i" ZedZ[ YbWkikhŒ kd Y[djhe Z[ Z_l[hi_Œd deYjkhde [b YkWb de Ykcfb‡W Yed bei f[hc_iei
ĂťÄƒĹ‹#( #! (. -Ĺ‹ / ,)(Ĺ‹ /.#4 );d c[Z_e Z[ kd WcX_[dj[ Z[ [ceY_ÂŒd o Wb[]h‡W" Wo[h '/ _d# Z_][dj[i gk[ f[hcWd[Y‡Wd [d [b 9[djhe Z[ C[dZ_]ei" i_jkWZe [d bW l‡W W J[Y^e Fhef_e" \k[hed XWkj_pWZei o WfWZh_dWZei feh f[hiedWi Z[ Xk[d YehWpÂŒd$ ;b [l[dje i[ h[Wb_pÂŒ [d kd WYje Z[ ieb_ZWh_ZWZ o Z[ \[ Yh_ij_WdW" ZedZ[ de i[ ^_pe [if[hWh bW [ce# Y_ÂŒd Z[ gk_[d[i [d ik cec[dje ebl_ZWhed ik decXh[ o W ik \Wc_# b_W$ I_[dZe [ij[ [b YWie Z[ [b Æ?dgk_# b_deÇ kd ^ecXh[ bb[de Z[ _bki_e#
d[i gk[ feh YWkiWi [njh[cWi jkle gk[ c[dZ_]Wh [d bWi YWbb[i" f[he gk[ ]hWY_Wi W fheo[Yjei ieb_ZWh_ei gk[ i[ Xh_dZWd [d Z_Y^e Y[djhe" [ij[ \k[ bb[lWZe ^WijW Wgk‡$ F[he gk[ W^ehW \k[ XWkj_pWZe Yece IWck[b" decXh[ gk[ \k[ Z[ ik Yecfb[je W]hWZe o iWj_i\WYY_Œd$ CWhj^W DWlWhh[j[" Z_h[YjehW Z[b Y[djhe" i[‹Wbe gk[ [ijW [i bW fh_c[hW l[p gk[ i[ h[Wb_pW kdW WY# j_l_ZWZ Z[ [ij[ j_fe" oW gk[ [b eX# `[j_le [i ZWh kd decXh[ W gk_[d[i [d ik cec[dje \k[hed f[hiedWi Z[ X_[d$
ĹŠ ĹŠ Â&#x;
ēŊ Ŋ#,.!(¢-Ŋ2#Ŋ 1#ĄŊ#)¢Ŋ"#-31.Ŋ"#+Ŋ!#-31.Ŋ"#Ŋ /.8.ē
("# 1ĹŠ3~34+.
( 1 ĹŠ"#ĹŠ/#2! ".ĹŠ2#!.ĹŠ ĹŠĹ—ĹŠ #1.ĹŠĹŠ ĹŠ Ēēćć Ĺ—ĹŠ ! + .ĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠÄ?ēćć ĹŠ Ďēćć Ĺ—ĹŠ (2 ĹŠ Čēćć Ĺ—ĹŠ .-) ĹŠ ĹŠ
Z[ b[o$ 7Z[c|i" h[l_iŒ gk[ bWi XW# bWdpWi Z[ f[iW`[ Z[ bWi Z_\[h[dj[i j_[dZWi Z[ WXWijei" \kdY_ed[d f[h\[YjWc[dj[$ :[ _]kWb \ehcW" _dif[YY_edŒ o iWdY_edŒ W lWh_Wi _dij_jkY_ed[i fh_lWZWi Z[ i[]k# h_ZWZ" gk[ de YedjWXWd Yed bei f[hc_iei Z[ \kdY_edWc_[dje WdkWb[i$ 7gk‡ i[ Z[Yec_iWhed i[_i h[lŒbl[h[i$
#!/ Ĺ‹& Ĺ‹ (., ! Ĺ‹ Ĺ‹ Z /& -
>WijW [b i|XWZe - Z[ cWoe" [b H[]_ijhe 9_l_b Z[ Jkd]khW^kW Wj[dZ[h| [d bei jh|c_j[i Z[ h[# delWY_Œd Z[ YƒZkbW$ BW _Z[W [i gk[ bei Y_kZWZWdei fk[ZWd eXj[# d[h ik ZeYkc[dje f[hiedWb o Yed [bbe fk[ZWd i[h fWhj[ Z[ bei Yec_# Y_ei gk[ i[ ZWh|d [b fhŒn_ce - Z[ cWoe$ Bei ^ehWh_ei Z[ Wj[dY_Œd" fWhW bei i|XWZei [i Z[ &.0&& W '-0&& Z[ \ehcW _d_dj[hhkcf_ZW$
ă
Ŋĸ Ŋ ĚēŊ #/1#2#-3 -3#2Ŋ,4-(!(/ +#2Ŋ !4"(Ĺ #1.-Ŋ +Ŋ#-!4#-31.ē
,, '# (. -Ĺ‹ -. v-.# -Ĺ‹ Ĺ‹'/(# #*#)-Ĺ‹ ;b ?dij_jkje DWY_edWb Z[ ;i# jWZ‡ij_YWi o 9[diei ?D;9 h[]_ÂŒd Y[djhe" YedleYÂŒ [b l_[h# d[i W 7bYWbZ[i Z[ bei =eX_[h# dei 7kjÂŒdecei :[iY[djhWb_# pWZei fWhW ][d[hWh fheY[iei gk[ f[hc_jWd gk[ bWi ^[hhW# c_[djWi [ijWZ‡ij_YWi i_hlWd Z[ XWi[ fWhW bW fbWd_Ă’ YWY_ÂŒd Z[ bW ][ij_ÂŒd [d bei j[hh_jeh_ei$ BW h[kd_ÂŒd Z[dec_dWZW Z[ Ăˆ<eYki =hekfÉ i[ Z_e [d [b iW# bÂŒd Z[ WYjei Z[ bW Kd_l[hi_ZWZ ?dZeWcƒh_YW" [d c[Z_e Z[ kd WcX_[dj[ jƒYd_Ye ]hWY_Wi W bei Yh_j[h_ei lWb_eiei [djh[]WZei feh bei fh[i[dj[i$ @kWdW =WcXeW" Z_h[YjehW Z[ bW h[]_edWb" i[‹WbÂŒ gk[ [b eX`[# j_le _dij_jkY_edWb [i c[Z_h [b d_l[b Z[ fei_Y_edWc_[dje Z[b ?D;9 \h[dj[ W bei ]eX_[hdei beYWb[i1 WZ[c|i Z[ [ijWXb[Y[h bW c[jeZebe]‡W fWhW [\[YjkWh [b Z_W]dÂŒij_Ye Z[ bWi d[Y[i_ZWZ[i Z[ _d\ehcWY_ÂŒd Z[ bei =eX_[h# dei 7kjÂŒdecei :[iY[djhWb_pW# Zei" Yed ƒd\Wi_i [d bW d[Y[i_ZWZ Z[ ][d[hWY_ÂŒd Z[ _d\ehcWY_ÂŒd [d [b |h[W jkh‡ij_YW Yedi_Z[# hWdZe bW kX_YWY_ÂŒd [ijhWjƒ]_YW Z[ Jkd]khW^kW o [b Z[iWhhebbe [d bei d_l[b[i fheZkYj_lei" Ye# c[hY_Wb[i o ieXh[ jeZe dWjkhWb o X_ei\ƒh_Ye$ 7gk‡ i[ Z_`e gk[ bW dehcW# j_lW gk[ Z[j[hc_dW bei d_l[b[i Z[ ]eX_[hdei Z[iYedY[djhWZei o Z[iY[djhWb_pWZei [n_][ fhe# \kdZW fbWd_Ă’ YWY_ÂŒd o bWi ^[# hhWc_[djWi [ijWZ‡ij_YWi eh_[d# jWd bei fbWd[i o W][dZWi gk[ fhefed]Wd bei jƒYd_Yei W Ă’ d Z[ efj_c_pWh [b kie Z[ h[Ykhiei o WbYWdpWh cWoeh[i X[d[\_Y_ei Z[ bei fhe]hWcWi Z[ Z[iWhhebbe _cfkbiWZei Z[iZ[ [b fh_dY_f_e Yedij_jkY_edWb$ FWhj_Y_fWhed Yece \WY_b_# jWZeh[i Z[b [dYk[djhe >ƒYjeh :|lWbei" =hWY_[bW CedYWoe o <[hdWdZe D‘‹[p" \kdY_edWh_ei Z[b ?D;9$
Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ ĔŊ Ŋ Ŋ ĔŊ :Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ }
Ä…
Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
)(ŋßýŋ'#&Ĺ‹ )( / .), -Ĺ‹ &)-Ĺ‹ & !# );b d‘c[he Z[ _diYh_jei [d [ij[ fhe]hWcW gk[ _cfkbiW =[d[hWb Cejehi Ecd_Xki 88 o ik cWhYW 9^[lheb[j" h[\b[`W [b ƒn_je WbYWdpWZe [d bWi YWcfW‹Wi gk[ i[ h[W# b_pWhed [d Gk_je" 9k[dYW o 7cXWje BW WYe]_ZW Z[b f‘Xb_Ye ^WY_W [b fhe]hWcW \k[ [n# Y[fY_edWb" [if[Y_Wbc[dj[ [d 7cXWje$ :khWdj[ bei Y_dYe Z‡Wi gk[ [ijkle bW YWcfW‹W Wgk‡ feh bW <_[ijW Z[ bW <hk# jW o Z[ bWi <beh[i" i[ be]hÂŒ _diYh_X_h W kd jejWb Z[ *,+ f[hiedWi" WbYWdpWZe bW c[jW fhefk[ijW$ BW h[ZkYY_ÂŒd Z[ bei ‡dZ_# Y[i Z[ WYY_Z[dj[i Z[ jh|di_# je fheZkYje Z[b WbYe^eb" bW ]hWd WYe]_ZW gk[ [b fhe]hW# cW Z[b Ăˆ9edZkYjeh ;b[]_ZeÉ ^W j[d_Ze [d bW Yeckd_ZWZ o [b Wfeoe gk[ Xh_dZ[d bWi [cfh[iWi" i[hl_h| fWhW gk[ [ijW _Z[W i[ YecfWhjW [d jeZe [b ;YkWZeh$ >Wo gk[ h[YehZWh W bW Y_k# ZWZWd‡W gk[ de [i _cfh[i# Y_dZ_Xb[ j[d[h bW Z_ij_dY_ÂŒd Z[ ĂˆYedZkYjeh [b[]_ZeÉ fWhW ^WY[h X_[d bWi YeiWi" ^Wo gk[ ^WY[h YedY_[dY_W Z[ bei ZW‹ei gk[ i[ fk[Z[ ik\h_h Z[ de h[if[jWh bWi b[o[i Z[ jh|di_je o YWkiWh WYY_Z[dj[i Z[ jh|di_je$
),. & (Ĺ‹3Ĺ‹ *&# (Ĺ‹& ' . '6.# -Ĺ‹ 7bh[Z[Zeh Z[ *& [ijkZ_Wd# j[i Z[ bei Z_\[h[dj[i [ijW# Xb[Y_c_[djei [ZkYWj_lei Z[ bW fhel_dY_W fWhj_Y_fWhed [d [b Gk_dje 9edYkhie ?d# j[h[iYebWh Z[ CWj[c|j_YWi" eh]Wd_pWZe feh [b |h[W Z[ CWj[c|j_YWi Z[b ?dij_jkje J[YdebÂŒ]_Ye Ikf[h_eh 8eb‡# lWh$ 7gk‡ bei Wbkcdei \k[hed [lWbkWZei feh bei cW[ijhei fWhW YedeY[h [b d_l[b WYWZƒ# c_Ye [d [ijW Wi_]dWjkhW gk[ i[ Z_YjW [d bWi Z_\[h[dj[i [i# Yk[bWi Z[ bW beYWb_ZWZ$ @_c[dW :ec‡d]k[p" Ze# Y[dj[ Z[b fbWdj[b" i[‹WbÂŒ gk[ bei [`[hY_Y_ei cWj[c|j_Yei ied [d XWi[ W bW cWbbW Ykhh_# YkbWh Z_ifk[ije fWhW bWi [i# Yk[bWi Z[iZ[ i[]kdZe Z[ XW# Y^_bb[hWje ^WijW iƒfj_ce Z[ X|i_YW1 bW cWoeh‡W Z[ [`[h# Y_Y_ei ied Z[ hWpedWc_[dje bÂŒ]_Ye$
' #)ŋ ŋ,/. ŋŋ ŋĒ (ŋ (.)(#)ē
Ä“ #ĹŠ1# +(9¢Ŋ4- ĹŠ,."(ă! !(¢-ĹŠ"#ĹŠ143 ĹŠ!.-ĹŠ+ ĹŠÄƒ- +(" "ĹŠ"#ĹŠ 1(-" 1ĹŠ4-ĹŠ,#).1ĹŠ2#15(!(.ĹŠ"#ĹŠ31 -2/.13#ĹŠ/ĂŒ +(!.ĹŠ' !(#ĹŠ#+ĹŠ #%(231.ĹŠ (5(+ĹŠ"#ĹŠ 4-%41 '4 Ä“
#ĹŠ31 3 ĹŠ"#ĹŠ4-ĹŠ-4#5.ĹŠ1#!.11(".ĹŠ#-ĹŠ#+ĹŠ2#!3.1ĹŠ 241ĹŠ"#ĹŠ+ ĹŠ41 #ĹŠ , 3# Ŋ/ 1 ĹŠ,#).1 1ĹŠ#+ĹŠ 2#15(!(.ĹŠ"#ĹŠ31 -2/.13#ĹŠ' !( ĹŠ#23#ĹŠ2#!3.1ēŊ 9ed bW Yh[WY_ÂŒd Z[b >eif_jWb C_# bb[dd_kc o [b jhWibWZe Z[ bWi eĂ’# Y_dWi Z[ H[]_ijhe 9_l_b Z[ Jkd]k# hW^kW Wb i[Yjeh Z[b Jhef[pÂŒd" ^W [cf[pWZe W ikh]_h c|i d[Y[i_ZWZ Z[ i[hl_Y_e Z[ jhWdifehj[ ^WY_W [i# jei bk]Wh[i$ 7dj[i" fWiWXWd feh [ijei i_j_ei iebWc[dj[ bei h[Yehh_Zei Z[ I[c_# dWh_e#?d]W^khYe 8W`e o CW]ZWb[# dW#;b F_igk[ Z[ bW Yeef[hWj_lW Z[ jhWdifehj[ Bei B_X[hjWZeh[i o @[h# fWpieb" h[if[Yj_lWc[dj[$ FWhW iebkY_edWh fWkbWj_dW# c[dj[ bW \WbjW Z[ jhWdifehj[" bWi Yeef[hWj_lWi Kd_ÂŒd 7cXWj[‹W o Jkd]khW^kW ^Wd ceZ_Ă’YWZe kdW fWhj[ Z[ bW hkjW Z[ ĂˆIWd 7djed_e# ?d]W^khYeÉ" f[he [b fheXb[cW [i gk[ jeZWl‡W bW ][dj[ de [ij| cko X_[d _d\ehcWZW ieXh[ [b dk[le h[#
Yehh_Ze$ 7 Z[Y_h Z[ CWdk[b ;iYeXWh" ][h[dj[ Z[ bW Yeef[hWj_lW Z[ jhWdi# fehj[ Kd_ÂŒd 7cXWj[‹W" [ij[ h[Ye# hh_Ze [ij| W fhk[XW" o Z[X_Ze W bW WYe]_ZW Z[ bW ][dj[ f_Z[ W bWi Wkje# h_ZWZ[i gk[ f[hc_jWd gk[ bW fWhW# ZW i[W jWcX_ƒd [d [b fWhgk[ '( Z[ Del_[cXh[$ ."(ă! !(¢-ĹŠ"#ĹŠ143 ;b h[Yehh_Ze Z[ ĂˆIWd 7djed_e#?d]# W^khYeÉ de i[ ^W YWcX_WZe jejWb# c[dj[" iebWc[dj[ [d [b i[Yjeh Zed# Z[ [ij| [b >eif_jWb C_bb[dd_kc o [b H[]_ijhe 9_l_b" [b h[ije Z[ bW hkjW [i [b c_ice$ >WY[ lWh_Wi i[cWdWi i[ l_W`W# XW [d i[dj_Ze dehj[ ikh feh bW YWbb[ 7djed_e 9bWl_`e o i[ Z[il_WXW fWhW _d]h[iWh W bW Y_kZWZ[bW C_‹Wh_YW
ĹŠ ĹŠ ĹŠ
ĹĄĹŠ -3.-(.ĹŠ + 5(). ĹĄĹŠ #+( -.ĹŠ .-)# ĹĄĹŠ %1 ,.-3# ĹĄĹŠ 1-#23.ĹŠ + ;ĹĄĹŠ ;!.,#ĹŠ + 5(). ĹĄĹŠ !.23 ĹŠ .+~2 ĹĄĹŠ 2! 1ĹŠ $1_-ĹŠ #8#2 ĹĄĹŠ -4#+ĹŠ 1!_2 ĹĄĹŠ -4#+ĹŠ 2 ~ 2ĹŠ ;-!'#9 ĹĄĹŠ -3.-(.ĹŠ + 5().
??" W^ehW _d]h[iW feh kdW YWbb[ c|i Whh_XW o fWiW W kdW YkWZhW Z[b H[# ]_ijhe 9_l_b$ #3(!(.-#2Ŋ 9ece [hW Z[ [if[hWhi[" feh fWhj[ Z[ bei cehWZeh[i [n_ij[d ef_d_e# d[i W \Wleh o [d YedjhW Z[b YWcX_e" fk[i W kdei b[i Yedl_[d[ fehgk[ [b Xki fWiW feh bWi fk[hjWi Z[ bWi l_# l_[dZWi ZedZ[ l_l[d" o [d YWcX_e ejhei oW de j_[d[d [i[ fh_l_b[]_e$ Æ>Wo gk[ f[diWh [d [b X_[d[i#
ĹŠ%#-3#ĹŠ ĂŒ-ĹŠ-.ĹŠ#23;ĹŠ (-$.1, " ĹŠ (#-ĹŠ2. 1#ĹŠ #+ĹŠ! , (.ĹŠ#-ĹŠ+ ĹŠ143 ĔŊ /#1.ĹŠ#2ĹŠ/ 1 ĹŠ2#15(1ĹŠ ĹŠ,;2ĹŠ /#12.- 2ĹŠ8ĹŠ++#% 1ĹŠ ĹŠ,;2ĹŠ 2#!3.1#2Ģē ĹŠ Ä”
ĹŠ ĹŠ ÂĄ ĹŠ Â&#x; Ä“
#ĹŠ/ 1#!#ĹŠ#7!#+#-3#ĹŠ 04#ĹŠ' 8 -ĹŠ,."(ă! Äą ".ĹŠ+ ĹŠ143 ĔŊ#+ĹŠ2#!3.1ĹŠ /.1ĹŠ".-"#ĹŠ/ 2 ĹŠ#+ĹŠ 42ĹŠ#1 ĹŠ "#2.+ ".ĹŠ8ĹŠ+.2ĹŠ 42#2ĹŠ-.2ĹŠ "#) -ĹŠ+#).2Ģē
} ĹŠ } Ä”
ĹŠ ĹŠ ĹŠ ĹŠ Ä“
2/#1.Ŋ04#Ŋ+.2Ŋ 42#2Ŋ !(1!4+#-Ŋ,;2Ŋ2#%4(".Ŋ /.104#Ŋ' 8Ŋ,4!' Ŋ %#-3#Ŋ04#Ŋ-#!#2(3 Ŋ31 -2Ĺ /.13 12#Ŋ8Ŋ+ 2Ŋ4-(" "#2Ŋ / 2 -Ŋ++#- 2Ģē Ŋ ¥ Ĕ
ĹŠ ĹŠ Ä“
jWh Z[ jeZei" oe l_le [d C_‹Wh_YW ?? o i_[cfh[ [b Xki ^W fWiWZe feh bW fk[hjW Z[ c_ YWiW" Yed [b YWc# X_e j[d]e gk[ YWc_dWh ^WY_W bW [i# gk_dW$ De c[ fWh[Y[ gk[ i[W Wb]e Z[ Yk[ij_edWh fehgk[ [i X[d[Ă’Y_e fWhW [b i[YjehÇ" ef_dÂŒ L_d_Y_e DW# lWhh[j[" [cfb[WZe fh_lWZe$
,)3 .)ŋ ŋ*, 0 ( #š(ŋ ŋ ,)! -ŋ (ŋ -. ŋ #/
-!4#-31.ĹŠ"#ĹŠ" -9 2ĹŠ$.+*+¢1(! 2ĹŠ +ĹŠÄˆÄ?ĹŠ"#ĹŠ 1(+ĔŊ#-ĹŠ+.2ĹŠ/ 3(.2ĹŠ"#ĹŠ+ ĹŠ 2!4#+ ĹŠ #/ĂŒ +(! ĹŠ"#ĹŠ #-#94#+ ĔŊ2#ĹŠ 1# +(9 1;ĹŠ#+ĹŠ !3 5.ĹŠ -!4#-31.ĹŠ"#ĹŠ -9 2ĹŠ .+*+¢1(! 2ēŊ -ĹŠ+ ĹŠ%1;ă! ĹŠ2#ĹŠ . 2#15 ĹŠ ĹŠ+ ĹŠ"#+#% !(¢-ĹŠ"#+ĹŠ!.+#%(.ĹŠ ĹŠ"(23 -!( ĹŠ 3#/'#-ĹŠ 6*(-%ĹŠ04#ĹŠ / 13(!(/ 1;ĹŠ!.-)4-3 ,#-3#ĹŠ!.-ĹŠ.31 2ĹŠ"#+#% !(.-#2ĹŠ"#ĹŠ/1#23(%(.ēŊ
FWhj_[dZe Z[iZ[ bW d[Y[i_ZWZ Z[ fh[l[d_h bW Zhe]eZ[f[dZ[dY_W" [if[Y_Wbc[dj[ [d bei `ÂŒl[d[i" [b 9edi[`e DWY_edWb Z[ IkijWdY_Wi ;ijkf[\WY_[dj[i o Fi_YejhÂŒf_YWi 9edi[f Ykcfb[ [d bW Y_kZWZ kd jWbb[h fWhW \ehckbWh kd fheo[Y# je Z[ _dj[hl[dY_ÂŒd fh[l[dj_lW [d 7cXWje$ ;ij[ [l[dje i[ h[Wb_pÂŒ [b ') o '* Z[ WXh_b [d bW 9WiW Z[ bW @k# l[djkZ o Z[ Wbb‡ dWY[h|d fhe# o[Yjei gk[ i[ _cfb[c[djWh|d [d eY^e ckd_Y_f_ei Z[b fW‡i" [djh[ [bbei 7cXWje$ Æ;ijW [i kdW _cfehjWdj[ _d_# Y_Wj_lW gk[ Yed Wfeoe Z[ lWh_Wi [dj_ZWZ[i dWY_edWb[i [ _dj[hdW# Y_edWb[i" f[hc_j_h| Z[iWhhebbWh
fhefk[ijWi [if[Y‡ÒYWi Z[iZ[ bei ]eX_[hdei beYWb[i fWhW Wj[dZ[h [b fheXb[cWÇ" i[‹WbÂŒ Ă›blWhe <_[hhe" c_[cXhe Z[b 9edi[f$ ;d [ij[ jWbb[ i[ jecÂŒ cko [d Yk[djW [b Z_W]deij_Ye Z[ i_jkWY_ÂŒd WYjkWb ieXh[ fheXb[cWi Z[ Zhe]Wi [d 7cXWje$ 7 [ijW WYj_l_ZWZ Wi_ij[d '+ Z[# b[]WZei Z[ lWh_Wi _dij_jkY_ed[i Yece0 :_h[YY_ÂŒd Z[ :[iWhhebbe Ie# Y_Wb Ckd_Y_fWb" Feb_Y‡W DWY_edWb" Wi‡ Yece Z[ Yeb[Yj_lei Z[ `ÂŒl[d[i gk[ i[ Z[dec_dWd BkdW Dk[lW o Bk_i$ 7$ CWhj‡d[p$ ;ij[ [l[dje be Z_h_][ [b f[hiedWb jƒYd_Ye Z[ bW :_h[YY_ÂŒd DWY_edWb Z[ Fh[l[dY_ÂŒd o Z[ bW :_h[YY_ÂŒd H[]_edWb 9[djhe Z[b 9edi[f$
Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ć
ĹŠ
(_1!.+#2ĹŠÄˆÄŠĹŠ"#ĹŠ 1(+
7 (0 [gk_leYWY_ÂŒd" Ăˆ$$$l[d# Z_[dZe [d kd ZÂŒbWh[i$$$É ;i Ăˆ$$$ [d kd :ÂŒbWh$$$É 7 +0 de [i Ăˆ^WhZmWhZÉ" [i Ăˆ^WhZmWh[É" [d _d]bƒi$ 7 '-0 kdW ĂˆiÉ Z[c|i [d Ăˆ$$$Wb Y[b[XhWh [b Z‡W Z[b cW[i# jhei$$$É$ Be Yehh[Yje [i Ăˆ$$$Wb Y[b[XhWh [b :‡W Z[b CW[i# jhe$$$É ;d [ij[ YWie [ij| cWb Ăˆ$$$cW[ijhei fh_cWh_ei W fWhj[$$$É$ ;i Ăˆ$$$cW[ijhei fh_cWh_ei 7F7HJ;$$$É
3Ĺ‹' 3),Ĺ‹ ) ,./, Ĺ‹ * , Ĺ‹ &Ĺ‹- !/,)Ĺ‹ !, ,#)Ĺ‹ ēŊ 1+.2ĹŠ #1-;-"#9Ŋĸ(904(#1" 2ĚĔŊ/1#2("#-3#ĹŠ"#+ĹŠ #-31.ĹŠ %1~!.+ ĹŠ -3.- +ĹŠ"#ĹŠ , 3.ĹŠ8ĹŠ (;-ĹŠ +#-!( ĔŊ"(1#!3.1ĹŠ"#+ĹŠ % /ĹŠ#-ĹŠ 4-%41 '4 ĔŊ#-ĹŠ+ ĹŠÄƒ1, Ä“
1% -(2,.2ĹŠ5(-!4+ ".2ĹŠ +ĹŠ %1.ĹŠ!.-2.Äą +(" -ĹŠ+ ĹŠ 3#-!(¢-ĹŠ8ĹŠ1#2/ +".ĹŠ +ĹŠ2#!3.1ĹŠ %1~!.+ ĹŠ"#ĹŠ+.2ĹŠ! -3.-#2ĹŠ"#ĹŠ 4-%41 '4 Ä“ 9ecfhec[j_Zei [d YeWZoklWh [b h_dij_jkY_edWb$ ;b fhefÂŒi_je [i Wcfb_Wh bW Z[iWhhebbe Z[ bei f[gk[‹ei o c[# Wj[dY_ÂŒd fWhW bW Yec[h# Z_Wdei fheZkYjeh[i W]h‡Ye# bWi" \eh[ijWb[i o f[iYWZeh[i Y_Wb_pWY_ÂŒd Z[b I[]khe Whj[iWdWb[i" [b C_d_ij[h_e 7]hWh_e gk[ [ij| Z_ifed_#
Z[ 7]h_YkbjkhW" =WdWZ[h‡W" '#!3;1# 2ĹŠ$4#1.-ĹŠ Xb[ fWhW bei W]h_Ykbjeh[i 2#%41 " 2ĹŠ ĹŠ Z[ bW fhel_dY_W" W Ă’d Z[ 7YkWYkbjkhW o F[iYW CW# #2! + ĹŠ- !(.- +ĹŠ ]Wf " bW Kd_ZWZ Z[ I[]khe #-ĹŠ#+ĹŠÄ‰Ä‡ÄˆÄ‡Ä“ĹŠ Wi[]khWh iki fheZkYY_e# 7]h‡YebW Kd_iW o [b 9[d# d[i Z[0 fWfW" jh_]e" cW‡p ikWl[" cW‡p Zkhe" \hƒ`eb" jhe 7]h‡YebW Z[ 7cXWje" ikiYh_X_[hed kd Yedl[d_e _dj[# jecWj[ Z[ |hXeb" jecWj[ h_‹Œd"
ĈÄ?Ä“ÄŒĹŠ
[djh[ ejhei fheZkYjei$ 9Whbei <[hd|dZ[p" fh[i_Z[dj[ Z[b 9[djhe 7]h‡YebW" Z[ijWYŒ bW _d_Y_Wj_lW oW gk[ Z[ [ijW cWd[hW bei W]h_Ykbjeh[i j[dZh|d kd dk[le fkdje Z[ h[\[h[dY_W fWhW gk[ Ye# depYWd o WZgk_[hWd [ij[ i[]khe$ Feh ik fWhj[ <WX_|d LWb[dY_W" Z_h[Yjeh Z[b CW]Wf [d Jkd]k# hW^kW" _dl_jŒ W bei W]h_Ykbjeh[i W ikcWhi[ W [ij[ i[]khe$ Ieijkle gk[ de be l[Wd Yece kd ]Wije" i_de c|i X_[d Yece kdW Wbj[hdW# j_lW Z[ Wi[]khWh [b Ykbj_le ZkhWdj[ jeZe [b W‹e$ ;d jWdje Beh[dW 9Wdjk‹W" YeehZ_dWZehW Z[ bWi eh]Wd_pW#
2*)* * ŋßúÝÝŋ! ( , Ĺ‹ 2* . .#0 ;b l_[hd[i i[ h[Wb_pÂŒ [b bWdpW# c_[dje eĂ’Y_Wb Z[b ?? ;nfe 9ed# ]h[ie DWY_edWb Z[ bW FWfW # ;n# fefWfW (&'' gk[ i[ Z[iWhhebbWh| bei Z‡Wi '/" (& o (' Z[ cWoe [d [b 9[djhe 7]h‡YebW 7cXWje$ ;b 9[djhe 7]h‡YebW 7cXWje o ;nfe FbWd[j i[h|d bei eh]W# d_icei [dYWh]WZei Z[ bW eh]W# d_pWY_ÂŒd Z[b [l[dje" ZedZ[ [n# f[hjei Z[ [ijW b‡d[W fheZkYj_lW e\h[Y[h|d Yed\[h[dY_Wi cW]_i# jhWb[i ieXh[ fheXb[cWi WYjkWb[i Z[ bei Ykbj_lWZeh[i$ H_YWhZe 9[f[ZW" h[fh[i[d# jWdj[ Z[ ;nfe FbWd[j" _dZ_YÂŒ gk[ [d [ij[ Yed]h[ie i[ Z[iWhhe# bbWh|d `ehdWZWi Z[ YWfWY_jWY_ÂŒd jƒYd_YWi Yed bW _dj[hl[dY_ÂŒd Z[ fhe\[i_edWb[i dWY_edWb[i o kd h[fh[i[djWdj[ Z[ ?jWb_W$
J[cWi Yece0 [b cWd[`e dk# jh_Y_edWb Z[ ik[be" Ykbj_le Z[ i[c_bbW" [ijWdZWh_pWY_ÂŒd o Ye# c[hY_Wb_pWY_ÂŒd Z[ bW fWfW" _d# Zkijh_Wb_pWY_ÂŒd o ejhei i[h|d fWhj[ Z[ [ijW WYj_l_ZWZ$ ;d [ijei Z‡Wi jWcX_ƒd [ijW# h|d fh[i[dj[i [cfh[iWi fhel[[# ZehWi Z[ _dikcei" fheZkYjei o i[hl_Y_ei$ Bei _dj[h[iWZei [d fWhj_# Y_fWh [d [b Yed]h[ie fk[Z[d _diYh_X_hi[ Z[ \ehcW ]hWjk_jW W jhWlƒi Z[ mmm$[nfefWfW$Yec e WY[hYWhi[ Z_h[YjWc[dj[ W bWi _dijWbWY_ed[i Z[b 9[djhe 7]h‡# YebW$ Bei fWhj_Y_fWdj[i Wb \_dWb h[Y_X_h|d kd Y[hj_Ă’YWZe Z[ Wi_i# j[dY_W" gk[ i[h| Z[ ckY^W Wok# ZW fWhW \jkhWi WYj_l_ZWZ[i$
ēŊ #/1#2#-3 -3#2Ŋ"#Ŋ +.2Ŋ.1% -(2,.2Ŋ.1% -(9 ".1#2Ŋ 1# +(9 1.-Ŋ#+Ŋ+ -9 ,(#-3.ē
Y_ed[i YWcf[i_dWi Z[ bW Kd_ZWZ Z[ I[]khe 7]h‡YebW Kd_iW " _d# Z_YÂŒ gk[ [b X[d[Ă’Y_e Z[ WYe][hi[ W [ij[ fhe]hWcW Yedi_ij[ [d gk[ [b ;ijWZe ikXi_Z_W Yed [b ,& feh Y_[dje [b fW]e Z[ bW fÂŒb_pW Z[b i[# ]khe o [b *& h[ijWdj[ be Wikc[ [b W]h_Ykbjeh$ 9ed [bbe" ik fheZkYY_ÂŒd Yed# jWh| Yed kdW ]WhWdj‡W o h[ifWbZe h[Wb gk[ b[ f[hc_jW YedjhWhh[ijWh bei [\[Yjei Z[ bei \[dÂŒc[dei dW# jkhWb[i Yece0 ^[bWZWi" i[gk‡Wi" ]hWd_pWZWi" l_[djei ^khWYWdWZei" _dkdZWY_ed[i" bW fh[i[dY_W Z[ fbW]Wi o [d\[hc[ZWZ[i _dYedjhe# bWXb[i$
4#5#2ĹŠÄˆÄŒĹŠ"#ĹŠ 1(+
7 (0 f_[ Z[ \eje ĂˆI_d YWiYe fhej[YjehÉ ^[cei [iYh_je Ăˆi_d YWiYe fheo[YjeiÉ [d bk]Wh Z[ Ăˆi_d YWiYe FHE# J;9JEHÉ$ <WbjW Z[ ehje]hW\‡W [d BW >ehW Z[ bW FkdjkWb_ZWZ" de [i Ăˆ9edi[`e Ckd_Y_fWbÉ" [i 9ED9;@E Yed Ăˆ9É Ck# d_Y_fWb$ ;hheh Z[ j_f[e0 [d l[p Z[ J[Wjhe B7B7C7" ^[cei [iYh_je ĂˆJ[Wjhe PWbWcWÉ$ 7 +0 j_bZ[ cWb fk[ijW" de [i Ăˆ$$$i_ bWi Wkjeh_ZWZ[i Y[djhWb[i i[ _dj[h[iWh|d" [i Ăˆ i[ ?DJ;H;I7H7DÉ$ DEJ7 7j[dY_ÂŒd fh_cWh_W [d iWbkZ $
(#1-#2ĹŠÄˆÄŽĹŠ"#ĹŠ 1(+
7 (0 \WbjÂŒ kdW ĂˆiÉ [d Ăˆ;dW l[p Yedijhk_ZW bWi XWi[i$$$É ;i Ăˆ9EDIJHK?:7IÉ$ 7 +0 [d dejW ieXh[ Yedi# jhkYY_ÂŒd Z[ c[hYWZe [d F[b_b[e" ^[cei [iYh_je Zei l[Y[i ĂˆbepWiÉ" be Yehh[Yje [i ĂˆBEI7IÉ$
§ ć 0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
.Ŋ04#Ŋ2 #Ĺ +Ŋ1#5.+4!(.Ĺ ,.2Ŋ#2Ŋ4- Ŋ - 1(.Ŋ04#Ŋ %.3 Ŋ"#Ŋ %4 ėŊ 3(#-#Ŋ_7(3.Ŋ#2Ŋ +.Ŋ04#Ŋ(%-.1 ,.2Ŋ 4-Ŋ'., 1#Ŋ"#Ŋ 2Ĺ #2Ŋ1# +,#-3#Ŋ#+Ŋ 3 ".ĔŊ#+Ŋ04#Ŋ$1 ! Ĺ .!_ -.Ģē 2 Ŋ#2Ŋ4-Ŋ!1(,(- +Ģē Ŋ Ŋ Ŋ
#,.!1 !( Ŋ52ēŊ /1#2("#-!( +(2,.
;b Fh[i_Z[dj[ Z[ bW H[f‘Xb_YW bbWcW W YedikbjW fefkbWh Yed [b eX`[j_le Z[ \ehjWb[Y[h [b [`[Ykj_le feh ieXh[ bei ejhei feZ[h[i Z[b ;ijWZe" [ije fed[ [d [l_Z[dY_W [b YWh|Yj[h Z[ bW Æh[lebkY_ÂŒd Y_kZWZWdWÇ Yece kd fheY[ie YWZW l[p c|i Y[d# jhWZe [d kd iebe Y_kZWZWde$ 7f[bWh Wb fk[Xbe o f[Z_h kd leje Z[ Yed\_WdpW fWhW Æc[j[h bW cWde [d bW `kij_Y_WÇ de j_[d[ \kdZWc[dje Yedij_jkY_edWb" ckY^e c[dei Z[ceYh|j_Ye1 feh be jWdje" bWi hWped[i ied [dj[hWc[dj[ feb‡j_YWi0 Z[ck[i# jhW kdW \ehcW Z[ ]eX[hdWh YWZW l[p c|i Wkjeh_jWh_W" gk[ j_[d[ bW d[Y[i_ZWZ Z[ cWd[`Wh jeZWi bWi _dij_jkY_ed[i Z[b ;ijWZe Yed [b fhefÂŒi_je Z[ YedjhebWh W bW ieY_[ZWZ$ Bei '.& `k_Y_ei feh j[hheh_ice o iWXejW`[ YedjhW Z_h_][dj[i ieY_Wb[i Z[\[dieh[i Z[ ik j[hh_jeh_e [d efei_Y_ÂŒd W bW c_d[h‡W1 bW Yh_c_dWb_pWY_ÂŒd Z[ YkWbgk_[h fhej[ijW ieY_Wb1 bW f[hi[YkY_ÂŒd `kZ_Y_Wb [d dec# Xh[ Z[ bW cW`[ijWZ fh[i_Z[dY_Wb W gk_[d i[‹Wb[ Wb fh[i_Z[dj[ [d bW YWbb[1 bW f[hi[YkY_ÂŒd o Z[i# b[]_j_cWY_ÂŒd W Z_h_][dj[i _dZ‡# ][dWi" [ijkZ_Wdj_b[i" i_dZ_YWb[i1 bWi WYkiWY_ed[i Z[ jhW_Zeh[i e Z[ Z[h[Y^_ijWi o efehjkd_ijWi W gk_[d[i Z_iYh[f[d Yed iki Yh_j[# h_ei o i[ fbWdj[[d [d efei_Y_ÂŒd W ik fheo[Yje1$$$ jeZei [ijei ied YbWhei [`[cfbei Z[ kdW \ehcW Z[ ]eX[hdWh gk[ de h[YedeY[ d_ i_gk_[hW [b cWhYe Yedij_jk# Y_edWb Yedijhk_Ze [d bei YkWjhe W‹ei Z[ ik WZc_d_ijhWY_ÂŒd$ ;djedY[i fh[]kdjWcei0 Âľgkƒ c|i [ijWcei Z_ifk[ijei W f[h# c_j_h bei [YkWjeh_Wdei W dec# Xh[ Z[ cWdj[d[h kdWi YkWdjWi h[\ehcWi5 Fhec[j[h Wb fk[Xbe gk[ Yed bW [nj[di_ÂŒd Z[ bW fh_# i_ÂŒd fh[l[dj_lW o b_c_jWdZe bWi c[Z_ZWi ikij_jkj_lWi W bW fh_i_ÂŒd1 gk[ Yed bW h[[ijhkYjk# hWY_ÂŒd Z[ bW <kdY_ÂŒd @kZ_Y_Wb Z[iZ[ bW _dj[hl[dY_ÂŒd Z_h[YjW Z[b Fh[i_Z[dj[ Z[ bW H[f‘Xb_YW1 gk[ Yed bW fhe^_X_Y_ÂŒd W bWi _di# j_jkY_ed[i Z[b i_ij[cW \_dWdY_[# he fh_lWZe fWhW j[d[h fWhj_Y_fW# Y_ÂŒd [d [cfh[iWi Z[ Yeckd_YW# Y_ÂŒd Z[ YWh|Yj[h dWY_edWb$ .-3#!1(23(ĹŠ (5# 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#+_$.-.ĹŠÄ¸ÄƒĹŠ).ĚėŊ"(1#!!(¢-ĹŠ".,(!(+( 1( ĹŠ .ĹŠ"#ĹŠ31 ).ĹŠ8ĹŠ!.11#.ĹŠ#+#!31¢-(!.Ä“
ŋ ŋ ŋ ŋ —
7^ehW i‡ Yec_[dpW [d F[h‘ be gk[ fhec[j[ i[h kdW _dj[diW YWcfW‹W$ EbbWdjW >kcWbW o A[_ae <k`_ceh_ f[b[Wh|d feh bW Fh[i_Z[dY_W [d kdW i[]kdZW lk[bjW [b[YjehWb [b + Z[ `kd_e$ O Yece [ij|d bWi YeiWi" jWdje [b kde Yece bW ejhW Z[X[h|d cel[hi[ Wb Y[djhe" [dZkbpWh [b Z_iYkhie o [diWdY^Wh bW XWi[ Z[ Wfeoe" [if[Y_Wb# c[dj[ [djh[ bW ebl_ZWZW YbWi[ c[Z_W$ ;ijW l[p bW YWdZ_ZWjW Z[ <k[hpW (&'' de lW W feZ[h Z[\[dZ[h bW ][ij_ÂŒd Z[ ik fWZh[" [b [n fh[i_Z[dj[ 7bX[hje <k`_ceh_$ I_ [d bW fh_c[hW YWcfW‹W ieijkle gk[ [b ]eX_[hde Z[ ik fhe][d_jeh [hW Æ[b ceZ[be W i[]k_hÇ e be YWb_\_YÂŒ Yece Æ[b c[`eh fh[i_Z[dj[ Z[b F[h‘Ç" W^ehW de feZh| WXkiWh Z[ [ij[ j_fe Z[ \hWi[i i_ gk_[h[ [b ik\hW]_e Z[ [i[ [b[YjehWZe gk[ h[Y^WpW [b [ij_be \k`_ceh_ijW$ Bei lejei Z[ bei i[]k_Zeh[i Z[ F[Zhe FWXbe
: ĹŠ ĹŠ ÂĄ
)Ĺ‹.# ( Ĺ‹& Ĺ‹ /&* Ĺ‹ /' & <k[ @Wc_b CW^kWZ [b gk[ fh[i[djÂŒ Wdj[ <k`_ceh_ W bW Xhk`W @[dd_\[h" kdW Xeb_l_WdW Z[ eh_][d `kZ[e^_d# Z‘" [nf[hjW [d WZ_l_dWh YeiWi eYkb# jWi$ I[ ^_pe ‡dj_cW Z[ A[_ae Ie\‡W" ^_`W cWoeh Z[b fh[i_Z[dj[" W gk_[d fhe\[j_pÂŒ bW YW‡ZW Z[ Cedj[i_dei0 W bei feYei Z‡Wi bW JL f[iYWXW Wb feZ[heie Wi[ieh _d \hW]Wdj_" c_[djhWi b[ YedjWXW kdW X_bb[j_pW W kd ^edehWXb[ efei_jeh$ ;i[ \k[ [b fh_dY_f_e Z[b \_d Z[b ]eX_[hde i_Wcƒi0 [b ÆZeYjehÇ o [b _d][d_[he ^ko[hed" f[he W bW bWh]W YWo[hed [d YWdW" [d jWdje CW^WkWZ i[ [iYW#
AkpYodiao" 7b[`WdZhe Jeb[Ze o Bk_i 9WijW‹[ZW ied YbWl[i fWhW A[_ae o EbbWdjW$ Feh ejhW fWhj[" Wkdgk[ oW i[ iWX[ gk[ bei YWd# Z_ZWjei ik[b[d c[dj_h Wdj[i Z[ fei[i_edWhi[" [d [b YWie Z[b b‡Z[h dWY_edWb_ijW [b i[Yh[je [ijWh| [d Z[if[`Wh ZkZWi ieXh[ ik fhe]hWcW" [b ceZ[be [YedÂŒc_Ye gk[ _cfbWdjWh| o [b [l[djkWb YWcX_e [d bW 9edij_jkY_ÂŒd Z[b gk[ jWdje ^WXbW$ ÂľGkƒ [i be gk[ XkiYW >kcWbW5 De be ^W Z_Y^e W‘d" h[Wbc[dj[" feh be YkWb iki efei_jeh[i be l[d Yece kdW ÆWc[dWpWÇ W bW [ijWX_b_ZWZ o [b Yh[Y_c_[dje Z[b fW‡i$ Feh ejhW fWhj[" o Yece [b cWb [`[cfbe YkdZ[" bei iWbkZei Z[ ;le" Z[ 9^|l[p" Z[ Ehj[]W [ _dYbkie Z[ 9ehh[W ied bei gk[ c[dei d[Y[i_jW >kcWbW [d [ij[ cec[dje$ Bei l‡dYkbei Yed jWd Ăˆ[`[cfbWh[iÉ Wc_]ei Yedjh_Xko[hed W ik Z[hhejW [d (&&,$
XkbbŒ W fedj_\_YWh Z[iZ[ 8eijed" o bW Xhk`W Yedi_]k_Œ f[]W Yed ejhei fh[i_Z[dj[i Z[ bW l[Y_dZWZ$ ;f_ieZ_ei fWh[Y_Zei h[l[bWd bW Z_c[di_Œd Z[ bW jhW][Z_W Z[ dk[i# jhWi \Wbb_ZWi Z[ceYhWY_Wi$ ;b F[h‘ Z[ 7bbWd =WhY‡W fk[Z[ fh[Y_Whi[ Z[ ^WX[h c[`ehWZe bei ‡dZ_Y[i cWYhe[YedŒc_Yei" f[he de ^W feZ_Ze Yed [b bWijh[ Z[ bW c_i[h_W gk[ [cXhkj[Y[ o Y_[]W W bW cWoeh fWhj[ Z[ bW feXbWY_Œd$ Bei c_b_jWh[i fhe]h[i_ijWi de be]hWhed iWYWhbW Z[b ^eoe" jWcfeYe bei fh[i_Z[dj[i Z[ bW eb_]Whgk‡W b_c[‹W" f[eh bei fefkb_ijWi gk[ ^WbbWhed c_dWi Z[ lejei o Z[ fbWjW [d [b h‡e h[lk[bje Z[ bW feXh[pW$ BWi WbeYWZWi cWiWi [b[YjehWi" fWhW gk_[d[i bW Z[ce# YhWY_W \ehcWb [i fkhe Yk[dje" Yedi# jhko[d Yed iki lejei bW _cW][d Z[ kd h[Z[djeh" [d [b feXh‡i_ce _cW# ]_dWh_e Z[ ik Z[i[if[hWdpW0 WYWie EbbWdjW >kcWbW" e W be c[`eh A[_ae <k`_ceh_" gk[ i[]‘d be ^WXh| lWj_#
Y_dWZe bW Xhk`W" h[\bejWh| [b aWhcW Z[b Y^_de iedh_[dj[" gk[ jWdje i[Zk`[hW W bei f[hkWdei$ De WbYWdpW Yed [n_jeiWi \WYje# h‡Wi [nfehjWZehWi" de [i ik\_Y_[dj[ Yed kd F?8 YedlWb[Y_[dj[" Yed Wbjei ‡dZ_Y[i Z[ Yh[Y_c_[dje [YedÂŒc_Ye Ă„WfheXWZei feh >WhlWhZĂ„ fWhW Yedijhk_h l[hZWZ[hW YedY_[dY_W Z[ceYh|j_YW$ Gk_[d[i Yh[Whed [b YWbZe Z[ Ykbj_le Z[ bW _]dehWd# Y_W" b[o[i iebe fWhW bei Z[ fed# Y^e" _d[gk_ZWZ[i YkbjkhWb[i" Z[ Yedl_YY_ed[i" Z[ WcX_Y_ed[i" o i[ X[d[\_Y_Whed Z[ bW _d`kij_Y_W [Ye# dÂŒc_YW" [i Z[Y_h bei []e‡ijWi gk[ _]dehWhed bW jhW][Z_W" i[ hWi]Wd ^eo bWi l[ij_ZkhWi" Wj[hhWZei feh# gk[ >kcWbW" ik fhef_W Yh_WjkhW" [djhW fWj[WdZe Wb f[hhe o b[i W]kW bW \_[ijW$ >_fÂŒYh_jWi" W [iei de bei iWblW d_ bW Xhk`W0 W h[f[j_h c_b l[Y[i ik fhef_e o fh[`k_Y_WZe h[\h|d0 Æde j_[d[ bW YkbfW [b _dZ_e" i_de [b gk[ be ^_pe YecfWZh[Ç$ ÂľL[hZWZ fWj_jWi5
ēŊ Ŋ
^ĹŠ ĹŠ
-Ă„-Ĺ‹ & ' )Ĺ‹ )')Ĺ‹- &0 ),Ĺ‹ ;d kd Z‡W Yece ^eo @[i‘i \k[ WYbWcWZe Yece iWblWZeh Z[b ckdZe" dei h[\_[h[ [b [lWd][b_e i[]‘d IWd CWhYei N?" ' Ă„ '&" gk[ i[ fheYbWcW Wdj[i Z[ bW fheY[i_ÂŒd Yed bei hWcei X[dZ_jei$ Æ@[i‘i cWdZÂŒ W Zei Z[ iki Z_iY‡fkbei" Z_Y_ƒdZeb[i" [dYedjhWhƒ_i kd Xehh_Ye WjWZe $$$ :[iWjWZbe o jhW[Zbe$ O i_ Wb]k_[d ei fh[]kdjW feh gkƒ be ^WYƒ_i" Yedj[ijWZb[0 ;b I[‹eh be d[Y[i_jW o be Z[lebl[h| fhedje$ $$$ Bb[lWhed Wb Xehh_Ye" b[ [Y^Whed [dY_cW bei cWdj[ei" o @[i‘i i[ cedjÂŒ$ CkY^ei Wb\ec# XhWhed [b YWc_de Yed iki cWd# jei" ejhei Yed hWcWi YehjWZWi [d [b YWcfe$ Bei gk[ _XWd Z[bWdj[ o Wjh|i" ]h_jWXWd0 l_lW" X[dZ_je [b gk[ l_[d[ [d decXh[ Z[b I[‹eh$ 8[dZ_je [b h[_de gk[ bb[]W" [b Z[ dk[ijhe fWZh[ :Wl_Z$ ÂśL_lW [b 7b# j‡i_ce Ç$ 7b Y[b[XhWh kd W‹e c|i bW [djhWZW jh_kd\Wb Z[ @[i‘i [d @[# hkiWbƒd [d [b fh_c[h :ec_d]e Z[ HWcei" jWcX_ƒd deiejhei b[ WYbW# cWh[cei Yece W dk[ijhe H[o o IWblWZeh" Z[fei_jWdZe W iki f_[i dk[ijhei YehWped[i Yedjh_jei o ^kc_bbWZei Yece hWcei Z[ eb_le" o [b ^ec[dW`[ Z[ dk[ijhW WZehW# Y_ÂŒd Yece \beh[i \h[iYWi o ebeheiW Z[b YWcfe$ H[Y_X_[hed W @[i‘i [d [b fh_c[h :ec_d]e Z[ HWcei Zei ]hkfei X_[d Z_\[h[dY_WZei Z[ f[hiedWi0 feh kdW fWhj[" iki dkc[heiei Z_iY‡fkbei gk[ Wfhe# l[Y^Whed Z[ Wgk[bbW eYWi_ÂŒd fWhW cWd_\[ijWhb[ jeZW ik ]hWj_jkZ o WZc_hWY_ÂŒd feh bWi dkc[heiWi YkhWY_ed[i Z[ bei iehZei" ckZei" Y_[]ei" fWhWb‡j_Yei" b[fheiei o" [i# f[Y_Wbc[dj[" feh bW h[ikhh[YY_ÂŒd Z[ ik Wc_]e B|pWhe" Z[ifkƒi Z[ YkWjhe Z‡Wi Z[ ck[hje1 feh ejhW fWhj[" jWcX_ƒd i[ ikcWhed Wb h[# Y_X_c_[dje iki [d[c_]ei0 ikcei iWY[hZej[i" [iYh_XWi o \Wh_i[ei" gk_[d[i feh j[ceh Wb fk[Xbe" de leY_\[hWhed YedjhW @[i‘i" f[he Yed ik Whj[ Z[ [d]W‹Wh Wb fk[Xbe i[dY_bbe" be _dZk`[hed W f[Z_h ik ck[hj[" Wf[dWi W bei Y_dYe Z‡Wi jhWdiYkhh_Zei Z[b Wfej[ÂŒi_Ye h[Y_X_c_[dje Z[b fh_c[h :ec_d# ]e Z[ HWcei$ 9ecfWhWd Wb]kdei Yec[djWh_ijWi Z[b [lWd][b_e gk[ dei eYkfW Wb fh_c[h ]hkfe Z[ f[hiedWi gk[ h[Y_X_[hed W @[i‘i [b fh_c[h :ec_d]e Z[ HWcei$
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?ÄŠÄ?ć
666ē+ '.1 ē!.,ē#! 2Ŋ3 Ŋ2#!Ŋ!(¢-Ŋ1#Ŋ/1#Ŋ2#-Ŋ3 Ŋ#+Ŋ/#-Ĺ2 Ŋ,(#-Ŋ3.Ŋ"#Ŋ+.2Ŋ#"(Ŋ3.Ŋ1#2ēŊ .2Ŋ#2!1(Ŋ3.2Ŋ "#Ŋ+.2Ŋ!.Ŋ+ Ŋ .Ŋ1 Ŋ".Ŋ1#2Ŋ2.Ŋ+.Ŋ!.,Ŋ/1.Ŋ,#Ŋ3#-Ŋ Ŋ242Ŋ 4Ŋ3.Ŋ1#2Ŋ8Ŋ-.ŊŊ1#ŊĄŊ#Ŋ) -Ŋ -#Ŋ!#Ŋ2 Ŋ1( Ŋ,#-Ŋ3#Ŋ#+Ŋ/#-Ŋ2 Ĺ,(#-Ŋ3.Ŋ"#+Ŋ/#Ŋ1(¢Ŋ"(Ŋ!.ē
-./ # (. -ŋ#(. , - )-ŋ *),ŋ &ŋ' #)ŋ ' # (. +ũ. )#3(5.ũ#2ũ!1# 1ũ #+ũ(-3#1_2ũ#-ũ+.2ũ#2ı 34"( -3#2ũ2. 1#ũ +ũ !4(" ".ũ"#ũ/+ -3 2Ĕũ ;1 .+#2ũ8ũ#+ũ %4 ē
āĈŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
#2ăũ+#ũ .+(5 1( -.
|h[Wi l[hZ[i o bei ^|X_jei WZ[YkW# Zei o d[Y[iWh_ei fWhW cWdj[d[h kd WcX_[dj[ iWde i_d YedjWc_dW# Y_ d$
ŗũ ũũ7b Yedc[cehWh bei '+& W ei Z[ Yh[WY_ d Z[b ?dij_jkje
;b ?dij_jkje Ikf[h_eh CWh W DWjW# b_W LWYW [i [b f_ed[he Z[djhe Z[b fheo[Yje" ik jhWXW`e Yec[dp [d [b W e b[Yj_le (&&/#(&'&" Yed bW
9ed [b W\|d Z[ Yh[Wh YedY_[dY_W WcX_[djWb [d bei [ijkZ_Wdj[i Z[ bei Yeb[]_ei" [b =eX_[hde Fhel_d# Y_Wb Z[ Jkd]khW^kW ^W _cfkb# iWZe [b fheo[Yje È9eb[]_e ;Ye# b ]_YeÉ" [d\eYWZe W \ehjWb[Y[h bW YkbjkhW Z[ h[if[je Wb WcX_[dj[" l_dYkbWdZe bW j[eh W Yed bW fh|Y# j_YW Z[ j[d[h kd WcX_[dj[ iWde o b_Xh[ Z[ YedjWc_dWY_ d$ :[djhe Z[b fheo[Yje fWhj_Y_fWd [b ?dij_jkje J[Ydeb ]_Ye CWh W DWjWb_W LWYW o [b ?dij_jkje J[Yde# b ]_Ye Ikf[h_eh 8eb lWh" Yeb[]_ei _dj[h[iWZei [d [b fheY[ie Z[ bW \ehcWY_ d _dj[]hWb Z[b [ijkZ_Wdj[ [d lWbeh[i Z[b Yk_ZWZe o Yedi[h# lWY_ d Z[b WcX_[dj[$ ;i Wi gk[ bei Wbkcdei" `kdje W iki ZeY[dj[i" jhWXW`Wd [d bW _cfb[c[djWY_ d Z[
fWhj_Y_fWY_ d Z[ bWi WbkcdWi Z[ bei gk_djei o i[njei Ykhiei" gk_[# d[i [d [ij[ j_[cfe ^Wd be]hWZe Z_# i[ Wh `WhZ_d[i o [ifWY_ei l[hZ[i gk[ W^ehW Yedjh_Xko[d Yed [b eh# dWje o bW _cW][d Z[b Y[djhe [ZkYW# j_le$ Ejhe Z[ bei Y[djhei [ZkYWj_# lei gk[ i[ _dj[]hWd Wb fheo[Yje [i [b ?dij_jkje J[Ydeb ]_Ye Ikf[h_eh 8eb lWh" gk[ gk_[h[ _cfkbiWh [d iki Wbkcdei bW _cfehjWdY_W Z[ bW fhej[YY_ d Z[b c[Z_e WcX_[dj[$ 9ed [ijW _d_Y_Wj_lW" bW [dj_ZWZ fhel_dY_Wb [ij| [cf[ WZW [d gk[ c|i Yeb[]_ei i[ _dYehfeh[d [d [b fheo[Yje fWhW gk[ bei ` l[d[i jkd]khW^k[di[i i[Wd bei WYjeh[i fh_dY_fWb[i Z[ [ijW _d_Y_Wj_lW j[d# Z_[dj[ W be]hWh gk[ bWi WYjkWb[i o \kjkhWi ][d[hWY_ed[i ]eY[d Z[ kd c[Z_e WcX_[dj[ iWde$
¡ ēũ 23 ũ(-(!( 3(5 ũ3(#-#ũ!.,.ũăũ- +(" "ũ#"4! 1ũ ũ+.2ũ#234"( -3#2ũ#+ũ '; (3.ũ"#+ũ!4(" ".ũ"#ũ+ ũ- 341 +#9 ēũ
9ed [b fhef i_je Z[ Ykcfb_h Yed bW fbWd_Ò YWY_ d WdkWb Z[ [ij[ W e" bW Z_h[Yj_lW Z[ bW Kd_ d DW# Y_edWb Z[ ;ZkYWZeh[i @kX_bWZei Z[ Jkd]khW^kW i[ ^W fh[eYkfWZe [d eh]Wd_pWh bei fhe]hWcWi fWhW bW Y[b[XhWY_ d Z[b È: W Z[ bW CWZh[É$ ;i Wi gk[ ^Wd ^[Y^e bWi h[i[h#
lWY_ed[i [d kd ^ej[b Z[ bWi fbWoWi Z[ JedikfW#;ic[hWbZWi" fWhW Ykcfb_h Yed bei [l[djei fhe]hW# cWZei feh [ijWi \[Y^Wi$ FWhW [b [\[Yje" bei c_[cXhei Z[b ]h[c_e Z[X[d WYkZ_h ^WijW bWi _dij_jkY_ d e Yeckd_YWhi[ Yed bW j[ieh[hW Z[b ]h[c_e fWhW
hWj_Ò YWh ik fWhj_Y_fWY_ d Z[djhe Z[ [ij[ l_W`[$ :[ _]kWb cWd[hW" fk[Z[d bbWcWh W bei j[b \edei (.+'/*+ Ä &.(/-)+-) e WYkZ_h ^WijW [b j[h# Y[h f_ie Z[b ?dij_jkje ;YkWjeh_Wde Z[ I[]kh_ZWZ IeY_Wb ?;II " feh bWi jWhZ[i$
/ #& )-ŋ -. $ ,6(ŋ ŋ.) -ŋ& -ŋ' , -
;b Ykfe [ij| [ijWXb[Y_Ze fWhW *& fWhj_Y_fWdj[i" feh be gk[ Z[X[d YedÒ hcWh iki Wi_ij[dY_Wi ^WijW [b bkd[i '. fWhW gk[ gk[Z[ Z[Ò d_j_# lWc[dj[ Yed\ehcWZW bW b_ijW$ ;b cWhj[i (+ Z[ WXh_b i[ h[Wb_pW# h| bW i[i_ d fWhW h[Y_X_h _dijhkY# Y_ed[i Z[b l_W`[ fhe]hWcWZe$
J[Ydeb ]_Ye Ikf[h_eh 8eb lWh" bWi Wkjeh_ZWZ[i ^Wd [ijWXb[Y_# Ze [b ehZ[d Z[ fWhj_Y_fWY_ d Z[ bWi Z[b[]WY_ed[i _dl_jWZWi Wb Z[iÒ b[ Z[b () Z[ WXh_b W bWi '&0&&" feh bW 9[lWbbei$ ' CejeY_Yb_ijWi Z[b 9bkX 7cXWje ( 8WdZW Z[ ]WbW Z[ [n []h[iW# Zei Z[b Yeb[]_e ) 9Whhei Wb[] h_Yei Z[ [n h[_dWi Z[b fbWdj[b * 8WdZW Ckd_Y_fWb 7cXWje + 7kjeh_ZWZ[i dWY_edWb[i o fhel_dY_Wb[i , 7kjeh_ZWZ[i Z[b Yeb[]_e" ZeY[dj[i - ;n Wkjeh_ZWZ[i o ZeY[dj[i Z[b Yeb[]_e . ;n [cfb[WZei o YebWXehWZe# h[i Z[b fbWdj[b / 8Wijed[hWi Z[b 9eb[]_e ?dZeWc h_YW '& 8WdZW Z[ =WbW Z[ []h[iW# Zei Z[b 9eb[]_e CWbZedWZe Z[ H_eXWcXW '' FheceY_ed[i Z[b Yeb[]_e Z YWZW Z[ '/*& '( FheceY_ed[i Z[b Yeb[]_e Z YWZW Z[ '/+& ') 8WdZW Z[ C i_YW Z[ bW <7; '* FheceY_ed[i Z[b Yeb[]_e Z YWZW Z[ '/,& '+ FheceY_ed[i Z[b Yeb[]_e Z YWZW Z[ '/-& ', 8WdZW Z[ []h[iWZei Z[b 9e# b[]_e DWY_edWb C[` W Z[ Gk_je '- FheceY_ed[i Z[b Yeb[]_e Z YWZW Z[ '/.&
&2192&$725,$ (/ 75,%81$/ (/(&725$/ '(/ 6,1',&$ 72 '( &+2)(5(6 352)(6,21$/(6 '(/ &$1721 48(52 &LWDVH FRQ HO FDUiFWHU GH REOLJDWRULR D WRGRV ORV VRFLRV GHO 6LQGLFDWR GH &KRIHUHV 3URIHVLRQDOHV GHO &DQWyQ 4XHUR D HOHFFLRQHV GHO &RPLWp (MHFXWLYR SDUD HO SHUtRGR DFWR FtYLFR TXH VH OOHYDUi D FDER HO GtD GRPLQJR GH PD\R GHO D SDUWLU GH ODV VLHWH KRUDV + KDVWD ODV GLHFLRFKR KRUDV + HQ HO HGLILFLR GHO VLQGLFDWR GH FKRIHUHV SURIHVLRQDOHV GH 4XHUR XELFDGR HQ ODV FDOOHV (XJHQLR (VSHMR \ $PEDWR GH OD FLXGDG GH 4XHUR 3URYLQFLD GH 7XQJXUDKXD 127$ 6HJ~Q HO $UW /LWHUDO & GHO HVWDWXWR YLJHQWH VH UHFHSWDUD ODV OLVWDV GH FDQGLGDWRV SDUD HO &RPLWp (MHFXWLYR KDVWD HO GH $EULO GHO $WHQWDPHQWH 0D\RUJD 0RQWHUR 9LQLFLR 6DQWLDJR 35(6,'(17( '(/ 75,%81$/ (/(&725$/
$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 OD FDOOH 6DOYDGRU %XVWDPDQWH /XLV $OEHUWR 9DOHQFLD \ SDVDMH FRPXQDO GH OD SDUURTXLD &HOLDQR 0RQJH FDQWyQ $PEDWR SURYLQFLD GH 7XQJXUDKXD GH ODV VLJXLHQWHV FDUDFWHUtVWLFDV
È5( P
&2/,1'$17( -RVp $OIUHGR &KXWR 3LQWDJ \ 0DUtD 7UiQVLWR 7HQH <DJORD
%$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 PLpUFROHV GH DEULO 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
)ORUHV $UpYDOR (GJXLQ 6(&5(7$5,2 '(/ 75,%81$/ (/(&725$/
Ĉ
$54 )(51$1'2 &$//(-$6 %$521$ $/&$/'( '( $0%$72
ĉ
āĈŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
(. , ũ2#ũ5#23(1;ũ"#ũ +4!#2ũ8ũ!.+.1#2ũ3 41(-.2
ũ/ 13(1ũ"#ũ+ 2ũĈĐĖććũ2#ũ1# +(ı 9 1;-ũ+ 2ũ".2ũ!.11(" 2ũ"#ũ3.ı 1.2ũ#-ũ+ ũ/+ 9 ũũ Ì+ũ ;5 +.2ēũ .1Ėũ !3 5(.ũ -!'#-.ũ 204(5#+ .3.Ėũ 5("ũ -!'#-.ũ 4#5 1 ũ
BW WÒY_ d o bW Ò[ijW [d ][d[hWb l_l[d Z[ bW _bki_ d" f[he de Z[ bW _bki_ d Yece Wb]e gk[ fWh[Y[ f[he de [i" i_de Z[ bW _bki_ d Wk# j[dj_YW Z[ WYkZ_h W bW fbWpW Z[ je# hei c|i ieb[hW gk[ j_[d[ [b ;YkW# Zeh Yece be [i bW ÈHW b :|lWbeiÉ Z[ H_eXWcXW$ Bei WÒY_edWZei oW [ij|d Wb_i# jWdZe ik Xk[d l_de o ik Y^WlWb[# hW" fWhW bei Z Wi (' o () Z[b fh[# i[dj[ c[i fWhW l[h [i[ Èf[gk[ eÉ c_bW]he gk[ b[i e\h[Y[d bei jeh[# hei [d YWZW ]hWd \W[dW" o bei WÒ# Y_edWZei fhel_dY_Wdei jWcX_ d ^WY[d cWb[jWi fWhW Whh_XWh W bW IkbjWdW Z[ bei 7dZ[i" fehgk[ b[i ZW ]WdWi Z[ lebl[h kdW o ejhW l[p W l[h bWi Yehh_ZWi Z[ jehei gk[ i[ ZWd [d [b fW i$ (#-#ũ3 , (_-ũ24ũ#-! -3.
;ijW [i bW cW]_W Z[ dk[ijhW Ò[ijW o" c_[djhWi [ije ikY[ZW" bei gk[ j[d[cei [b È]kiWd_bbeÉ c[j_Ze [d [b Yk[hfe [ijWh[cei ]kijeiW# c[dj[ WjhWfWZei feh ik [dYWdje$ Gk_p| [ijW cW]_W j_[d[ jWcX_ d ik [cXhk`e feh ik [iYWi[p" fk[i cWb gk[ f[i[" i_ bWi ]hWdZ[i
.2ũ! 13#+#2Ė
+ 9 ũ"#ũ3.1.2ũ Ì+ũ ;5 +.2ũ
4#5#2ũĉĈũ"#ũ 1(+Ĕũ!.11(" ĔũĈĐĖćć
4 -ũ +.ũ ~ 9 ĥ +ũ /# Ħũĸ#2/ .+Ĺ 13~-ũ ,/49 -. - ".ũ2#1;ũ"#ũ 1(-(" "ũ ; ".ũĉĊũ"#ũ 1(+Ĕũ!.11(" ĔũĈĐĖćć 4(++#1,.ũ + ;-ũ
5(#1ũ .13_2ũĸ#2/ .+Ĺ
.2_ũ -3.-(.ũ #-~3#9
.2ũ3.1.2ũ2#1;-ũ"#ũ ,/.ũ 1 5.
\W[dWi o bei d_ ei fh Z_]ei i[ fheZ_]WhWd [d [nY[ie" bW cW]_W i[ Yedl[hj_h W [d cedejed W o" Yece jWb" j[hc_dWh W feh iWjkhWh Wb f[hiedWb$ #ũ2(#-3 ũ1#2/ +" " ũ
;i _cfehjWdj[ o fbWY[dj[he gk[ [d dk[ijhe fW i i[ Z[d \[h_Wi o gk[ i[ Yedij_jkoWd [d [b [`[ Z[ je# ZWi bW Ò[ijWi oW i[W fWhhegk_Wb[i" YWdjedWb[i" [jY$" YbWhe [ij| gk[ ^WXh| gk[ Yk_ZWh o fhej[][h W bW WÒY_ d fWhW gk[ i[ i_[djW h[ifWb# ZWZW feh bWi [cfh[iWi Z[ jkhde o gk[ ^k[bW W f[h\kc[ Yece kd he# iWb [d fh_cWl[hW" ZedZ[ Óeh[Y[
5 GHO ( $ +2/*8(5 ()5$,1 &+$9(= *8(9$5$ VH OH KDFH VDEHU 'HQWUR GHO -XLFLR (VSHFLDO GH ,QVROYHQFLD 1R VHJXLGR SRU ,5,6 $5$&(/< 9(5*$5$ (&+(*$5$< HQ FRQWUD GH +2/*8(5 ()5$,1 &+$9(= *8(9$5$ VH KD GLVSXHVWR FLWDU SRU OD 3UHQVD GH HVWD FLXGDG GH $PEDWR GH FRQIRUPLGDG FRQ OR SUHFHSWXDGR HQ HO $UW GHO &yGLJR GH 3URFHGLPLHQWR &LYLO \D TXH OD DFWRUD KD PDQLIHVWDGR FRQ MXUDPHQWR OD LPSRVLELOLGDG GH GHWHUPLQDU HO DFWXDO GRPLFLOLR R UHVLGHQFLD GHO GHPDQGDGR VH OH KDFH VDEHU -8=*$'2 6(37,02 '( /2 &,9,/ '( $0%$72 &/$6( '( -8,&,2 (63(&,$/ $68172 ,162/9(1&,$ 180(52 -8(= '( /$ &$86$ '5 *867$92 /23(= 18f(= $&725$ ,5,6 $5$&(/< 9(5*$5$ (&+(*$5$< '(0$1'$'2 +2/*8(5 ()5$,1 &+$9(= *8(9$5$ &8$17,$ -8=*$'2 6(37,02 '( /2 &,9, '( 781*85$+8$ $PEDWR OXQHV GH QRYLHPEUH GHO ODV K 9,6726 &XPSOLGR HO UHTXHULPLHQWR GHO -X]JDGR OD GHPDQGD SUHVHQWDGD SRU VHU OHJDO VH OD DFHSWD D WUiPLWH GH MXLFLR GH ,162/9(1&,$ &RPR GH ODV IRWRFRSLDV FHUWLILFDGDV DSDUHFH TXH +2/*8(5 ()5$,1 &+$9(= *8(9$5$ VH HQFXHQWUD FRPSUHQGLGR GHQWUR GH ODV GLVSRVLFLRQHV GH ORV $UWV GHO &yGLJR GH 3URFHGLPLHQWR &LYLO VH GHFODUD FRQ OXJDU OD IRUPDFLyQ GHO FRQFXUVR GH DFUHHGRUHV \ VH RUGHQD HO GHSyVLWR GH ELHQHV OLEURV FRUUHVSRQGHQFLD \ GRFXPHQWRV ORV FXDOHV VH HQWUHJDUiQ DO 6tQGLFR GH OD 4XLHEUD 'U 9tNWRU 7RUUHV 0HGLQD HQ IRUPD OHJDO 4XH OD IRUPDFLyQ GHO FRQFXUVR GH DQWHGLFKR VH FRPXQLTXH DO S~EOLFR SRU PHGLR GH OD SUHQVD HQ XQR GH ORV 'LDULRV TXH VH HGLWDQ HQ OD FLXGDG GH $PEDWR VH VHxDODUi GtD KRUD \ OXJDU HQ TXH VH FHOHEUH OD -XQWD GH $FUHHGRUHV TXH VH DFXPXOHQ WRGRV ORV MXLFLRV HQ FRQWUD GH OD GHXGRUD SRU REOLJDFLyQ GH GDU R KDFHU SDUD OR TXH VH RILFLDUi D WRGRV ORV -XHFHV GH OR &LYLO GH pVWD FLXGDG GH $PEDWR LJXDOPHQWH RItFLHVH D XQR GH ORV VHxRUHV $JHQWH )LVFDO D ILQ GH TXH VH LQLFLH OD LQYHVWLJDFLyQ UHVSHFWLYD HQ RUGHQ D OD FDOLILFDFLyQ GH OD LQVROYHQFLD 6H SUHYLHQH D OD GHXGRUD GH QR DXVHQWDUVH GHO OXJDU VLQ SUHYLR DYLVR GHO -X]JDGR \ TXH GHQWUR GH RFKR GtDV GHEHUi SUHVHQWDU HO EDODQFH GH VXV ELHQHV FRQ H[FHSFLyQ GH DFWLYR \ SDVLYR HQ FDVR GH QR KDFHUOR VH PDQGDUi IRUPDU EDODQFH SRU HO 6tQGLFR GH OD 4XLHEUD R SRU XQR GH ORV DFUHHGRUHV 3URKtEDVH KDFHU SDJR R HQWUHJDV D OD GHPDQGDGD VR SHQD GH QXOLGDG DGYLUWLpQGRVH TXLHQHV WHQJDQ ELHQHV R SDSHOHV GHO PLVPR TXH HVWiQ HQ OD REOLJDFLyQ GH HQWUHJDU DO 6tQGLFR GH OD 4XLHEUD LQFXUULUiQ HQ UHVSRQVDELOLGDG SHQDO &RPR OD IDOOLGD TXHGD GH KHFKR HQ OD LQWHUGLFFLyQ GH DGPLQLVWUDU ELHQHV QRWLItTXHVH FRQ HVWD SURYLGHQFLD D ORV VHxRUHV 1RWDULRV 5HJLVWUDGRUHV GH OD 3URSLHGDG \ 0HUFDQWLO GH HVWH FDQWyQ 2ItFLHVH HQ LJXDO VHQWLGR D ORV VHxRUHV JHUHQWHV GH ORV %DQFRV \ &RRSHUDWLYDV GH $KRUUR \ &UpGLWR GH OD FLXGDG GH $PEDWR DVt FRPR HQ OD IRUPD UHTXHULGD 3DUD ORV ILQHV GH OH\ FtWHVH DO GHPDQGDGR +2/*8(5 ()5$,1 &+$9(= *8(9$5$ SRU PHGLR GH XQR GH ORV GLDULRV GH HVWD FLXGDG GH $PEDWR DO WHQRU GHO $UW GHO &yGLJR GH 3URFHGLPLHQWR &LYLO D ILQ GH TXH FRQFXUUD KDFHU YDOHU VXV GHUHFKRV GHQWUR GH GtDV D SDUWLU GH OD ~OWLPD SXEOLFDFLyQ ,QFRUSyUHVH OD GRFXPHQWDFLyQ DQH[D 7pQJDVH HQ FXHQWD OD FDVLOOD MXGLFLDO 1 /R TXH GLVSRQJR HQ FDOLGDG GH -XH] 7HPSRUDO 1RWLItTXHVH I 'U *XVWDYR /ySH] 1~xH] -XH] 7HPSRUDO GHO -X]JDGR 6pSWLPR GH OR &LYLO GH $PEDWR &HUWLILFR (O 6HFUHWDULR -8=*$'2 6(37,02 '( /2 &,9, '( 781*85$+8$ $PEDWR OXQHV GH GLFLHPEUH GHO ODV K (O HVFULWR DJUpJXHVH (Q YLVWD GH ORV DUJXPHQWRV H[SXHVWRV SRU ,ULV $UDFHO\ 9HUJDUD VH GHVLJQD FRPR 6tQGLFR GH OD 4XLHEUD DO 'U :LOVRQ 5DPLUR 0D\RUJD 0D\RUJD TXLHQ DFWXDUi GHQWUR GH OD SUHVHQWH FDXVD DO WHQRU GHO $UW GHO &yGLJR 2UJiQLFR GH OD )XQFLyQ -XGLFLDO \ DO 7HQRU GHO $UW \ VLJXLHQWHV GHO &yGLJR GH 3URFHGLPLHQWR &LYLO 1RWLItTXHVH I 'U *XVWDYR /ySH] 1~xH] -XH] 7HPSRUDO GHO -X]JDGR 6pSWLPR GH OR &LYLO GH $PEDWR &HUWLILFR (O 6HFUHWDULR /R TXH FLWR DO GHPDQGDGR SDUD ORV ILQHV OHJDOHV SHUWLQHQWHV D ILQ GH TXH YHLQWH GtDV GHVSXpV GH OD ~OWLPD SXEOLFDFLyQ VHxDOH FDVLOOHUR MXGLFLDO HQ HVWD FLXGDG GH $PEDWR SDUD VXV QRWLILFDFLRQHV &HUWLILFR (O 6HFUHWDULR )LUPD ,OHJLEOH 'U +XJR 6DQWRV &KiYH] 6HFUHWDULR $PEDWR (QHUR GHO DxR +D\ VHOORV
ēũ 4(++#1,.ũ + ;-ũ !34 1;ũ#+ũ/1¢7(,.ũ2; ".ũĉĊũ"#ũ 1(+ũ#-ũ+ ũ$#1( ũ3 41(- ũ1(. , # Ĕũ/.1ũ242ũă#23 2ēũ
[b hecWdY[" fehgk[ Z[X[ [n_ij_h bei [ifWZWi oW ^Wd l_l_Ze bWi l_# kdW Yeckd_ d [djh[ Zei fWhW X[# Y_i_jkZ[i Z[b jeh[he" [d bW ]beh_W Z[ fbWpW o [b Zebeh [d bWi [d\[h# d[ÒY_e Z[ bW c[`eh Z[ bWi Ò[ijWi$ c[h Wi" oW iWX[d be gk[ iWX[d feYei0 Ègk[ be c|i _cfehjWdj[ o 7(23#ũ#+ũ5(142ũ"#+ũ3.1#. BW _cfehjWdY_W Z[ bWi \[h_Wi [d f[b_]heie [i jeh[Wh X_[dÉ$ bWi Z_\[h[dj[i Y_kZWZ[i Z[b fW i [i fehgk[ j_[d[ gk[ ^WX[h b_X[h# .2ũ!.11(" 2 jWZ" WZ[c|i [n_ij[ [b l_hki Z[b 9ed jeZW i[]kh_ZWZ o Yece [d jeh[e" [i È][hc[dÉ l_le" fehgk[ jeZWi bWi \[h_Wi gk[ i[ ZWd" [b f # 5 '(/ ( $/ 38%/,&2 (1 *(1(5$/ 6( /( +$&( 6$%(5 48( (1 (67( -8=*$'2 6( +$ ,1,&,$'2 (/ -8,&,2 '( ,162/9(1&,$ (1 &2175$ '( 0$5,2 52'5,*2 5,26 025$/(6 -8=*$'2 6(;72 '( /2 &,9,/ 180(52 '( -8,&,2 &/$6( '( -8,&,2 ,162/9(1&,$ $&725 ,5,6 $5$&(/< 9(5*$5$ (&+(*$5$< '(0$1'$'2 0$5,2 52'5,*2 5,26 025$/(6 -8=*$'2 6(;72 '( /2 &,9,/ '( 781*85$+8$ $PEDWR OXQHV GH QRYLHPEUH GHO ODV K 9,6726 /D GHPDQGD SUHVHQWD SUHVHQWDGD SRU ,5,6 $5$&(/< 9(5*$5$ (&+(*$5$< HV FODUD \ UH~QH ORV UHTXLVLWRV GH /H\ HQ FRQVHFXHQFLD VH OD DGPLWH DO WUiPLWH GH ,QVROYHQFLD &RQ ODV FRSLDV FHUWLILFDGDV SUHVHQWDGDV DSDUHFH TXH VH HQFXHQWUD FRPSUHQGLGR GHQWUR GH ODV GLVSRVLFLRQHV GH ORV $UWV \ GHO &yGLJR GH 3URFHGLPLHQWR &LYLO VH GHFODUD FRQ OXJDU OD IRUPDFLyQ GH FRQFXUVR GH DFUHHGRUHV \ VH RUGHQD HO GHSyVLWR GH ORV ELHQHV OLEURV FRUUHVSRQGHQFLD \ GRFXPHQWRV ORV FXDOHV VH HQWUHJDUiQ DO 6tQGLFR GH OD 4XLHEUD 'U 9LNWRU 7RUUHV HQ IRUPD OHJDO TXH OD IRUPDFLyQ GHO FRQFXUVR DQWHGLFKR VH FRPXQLTXH DO S~EOLFR SRU PHGLR GH OD SUHQVD GH XQR GH ORV GLDULRV TXH VH HGLWDQ HQ HVWD FLXGDG GH $PEDWR VH VHxDODUi GtD KRUD \ OXJDU HQ TXH VH FHOHEUH OD MXQWD GH DFUHHGRUHV TXH VH DFXPXOHQ WRGRV ORV MXLFLRV HQ FRQWUD GHO GHXGRU SRU REOLJDFLyQ GH GDU R KDFHU SDUD OR TXH VH RILFLDUi D ORV VHxRUHV -XHFHV GH OR &LYLO GH pVWD FLXGDG LJXDOPHQWH RItFLHVH D XQR GH ORV VHxRUHV $JHQWHV )LVFDOHV GH OD FLXGDG GH $PEDWR D ILQ GH TXH VH LQLFLH OD LQYHVWLJDFLyQ UHVSHFWLYD HQ RUGHQ D OD FDOLILFDFLyQ GH OD LQVROYHQFLD 6H SUHYLHQH DO GHXGRU GH QR DXVHQWDUVH GHO OXJDU VLQ SUHYLR DYLVR GHO MX]JDGR \ TXH GHQWUR GH RFKR GtDV GHEHUi SUHVHQWDUVH HO EDODQFH GH VXV ELHQHV FRQ H[FHSFLyQ GH DFWLYR \ SDVLYR HQ FDVR GH QR KDFHUOR VH PDQGDUi IRUPDU EDODQFH SRU HO 6tQGLFR GH OD 4XLHEUD R SRU XQR GH ORV DFUHHGRUHV 3URKtEDVH KDFHU SDJRV R HQWUHJDV DO GHPDQGDGR VR SHQD GH QXOLGDG DGYLUWLpQGRVH D TXLHQHV WHQJDQ ELHQHV R SDSHOHV GHO PLVPR TXH HVWiQ HQ OD REOLJDFLyQ GH HQWUHJDU DO 6tQGLFR LQFXUULUiQ HQ UHVSRQV DELOLGDG 3HQDO &RPR HO IDOOLGR TXHGD GH KHFKR HQ OD LQWHUGLFFLyQ GH DGPLQLVWUDU ELHQHV QRWLItTXHVH FRQ HVWD SURYLGHQFLD D ORV VHxRUHV 1RWDULRV 5HJLVWUDGRU GH OD 3URSLHGDG \ 5HJLVWUDGRU 0HUFDQWLO GH HVWH FDQWyQ RItFLHVH HQ LJXDO VHQWLGR D ORV VHxRUHV *HUHQWHV GH ORV EDQFRV \ GH ODV HQWLGDGHV ILQDQFLHUDV GH OD ORFDOLGDG SDUD GDU FXPSOLPLHQWR FRQ OD /H\ 3RU FXDQWR VH KD GHFODUDGR EDMR MXUDPHQWR OD LPSRVLELOLGDG GH GHWHUPLQDU OD UHVLGHQFLD GHO GHPDQGDGR FtWHVH SRU OD SUHQVD ORFDO D 0$5,2 52'5,*2 5,26 025$/(6 GH FRQIRUPLGDG FRQ OR TXH GHWHUPLQD HO $UW GHO &yGLJR GH 3URFHGLPLHQWR &LYLO HO PLVPR TXH SRGUi RSRQHUVH D HVWD GHFODUDWRULD SDJDQGR OD FDQWLGDG DGHXGDGD R GLPLWLHQGR ELHQHV HTXLYDOHQWHV GHQWUR GHO WpUPLQR GH WUHV GtDV OXHJR GH FLWDGR OHJDOPHQWH $JUpJXHVH DO SURFHVR OD GRFXPHQWDFLyQ DGMXQWD 7yPHVH HQ FXHQWD OD FDVLOOD MXGLFLDO VHxDODGD SDUD SRVWHULRUHV QRWLILFDFLRQHV &tWHVH \ QRWLItTXHVH I 'U /XLV 9LOODFtV &DQVHFR -XH] 6H[WR GH OR &LYLO GH 7XQJXUDKXD &HUWLILFD HO 6HFUHWDULR I 'U -RUJH &DUULOOR 3 -8=*$'2 6(;72 '( /2 &,9,/ '( 781*85$+8$ $PEDWR MXHYHV GHO QRYLHPEUH GHO ODV K 'H RILFLR VH DFODUD OD SURYLGHQFLD DQWHULRU HQ HO VHQWLGR GH TXH 0$5,2 52'5,*2 5,26 025$/(6 VH HQFXHQWUD FRPSUHQGLGR GHQWUR GH ODV GLVSRVLFLRQHV GH ORV $UWV \ GHO &yGLJR GH 3URFHGLPLHQWR &LYLO 1RWLItTXHVH I 'U /XLV 9LOODFtV &DQVHFR -XH] 6H[WR GH OR &LYLO &HUWLILFD HO 6HFUHWDULR I 'U -RUJH &DUULOOR 3 -8=*$'2 6(;72 '( /2 &,9,/ '( 781*85$+8$ $PEDWR -XHYHV GH QRYLHPEUH GHO ODV K (O HVFULWR TXH DQWHFHGH DJUpJXHVH D ORV $XWRV (Q YLVWD GHO PRWLYR LQGLFDGR GHMDQGR LQVXEVLV WHQWH HO QRPEUDPLHQWR GHO 'U 9tNWRU 7RUUHV 0HGLQD HQ FDOLGDG GH 6tQGLFR GH 4XLHEUD VH QRPEUD HQ VX OXJDU DO 'U -RVp &DVWLOOR 9HODVFR D TXLHQ VH GHEHUi QRWLILFDU FRQ WRGR OR DFWXDGR 1RWLItTXHVH I 'U /XLV 9LOODFtV &DQVHFR &HUWLILFD HO 6HFUHWDULR I 'U -RUJH &DUULOOR 3 I 'U /XLV 9LOODFtV &DQVHFR -XH] 6H[WR GH OR &LYLO &HUWLILFD HO 6HFUHWDULR I 'U -RUJH &DUULOOR 3 3DUWLFXODU TXH SRQJR HQ FRQRFLPLHQWR SDUD ORV ILQHV GH OH\ $PEDWR 'LFLHPEUH GHO )LUPD ,OHJLEOH '5 -25*( &$55,//2 3 6(&5(7$5,2 +D\ XQ VHOOR
Xb_Ye h[ifWbZWh| W bW Ò[ijW XhWlW Z[b fW i" [d [ij[ YWie Yh[[cei gk[ be ^Wh| [d bWi Zei Yehh_ZWi Z[ jehei gk[ j_[d[ fhe]hWcWZe bW [cfh[iW h_eXWcX[ W JWkhe FheZkYY_ed[i" fh[i_Z_ZW feh [b ]WdWZ[he FWjh_Y_e =hWY_W$ 9WX[ _dZ_YWh gk[ oW i[ [dYk[djhWd bWi beYWb_ZWZ[i W bW l[djW [d bW fbWpW Z[ jehei ÈHW b :|lWbeiÉ$
11#2/#3.ũ ũ+ ũ+#8 1 ũ#23#ũ!.-"4!3.1ũ-.ũ #7(23#-ũ+ 2ũ+#8#2ũ"#ũ31 -ı 2(3.Ĕũ"#)¢ũ#23 !(.- ".ũ24ũ 43.,.3.1ũ!#1! ũ"#ũ4- ũ "(2!.ũ"#ũĥ .ũ 23 !(.- 1ĦĔũ +.ũ/#.1ũ#2ũ04#ũ#2ũ)4-3.ũ ũ4-ũ 4#23.ũ"#ũ 47(+(.ũ -,#"( 3.ũĸ Ĺũ4 (! ".ũ +ũ(-%1#2.ũ"#+ũ2#!3.1ũ"#ũ (1 Ą.1#2ēũ
-.+5(" +#ũ !4,/+# .2
āĈŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
Ċ
)-ŋ '#&# , -ŋ ŋ (#. ŋ ) )ŋ& ŋ),! (#4 ,)(ŋ/( ŋðŋ -. ŋ -* # &ŋ*),ŋ )(' '), ,ŋ-/ŋ /'*& )-ŋ(Ä' ,)ŋÿúĄŋ -. ŋ & , # (ŋ- ŋ /'*&# ŋ (ŋ&)-ŋ- &)( -ŋ &ŋ ). &ŋ -#()ŋ 'Ě * , ),ŋ (ŋ/(ŋ ' # (. ŋ ŋ & !,v ŋ3ŋ ') # (Ąŋ
4+(- ũ 4;1#9Ĕũ 5("ũ . .Ĕũ #++8ũ ¢/#9Ĕũ 26 +".ũ ;-!'#9ũ8ũ #!(+( ũ"#ũ ;-!'#9ũ2#ũ"(5(13(#1.-ũ,4!'.ũ#-ũ#23 ũ!#+ı # 1 !(¢-ēũ
-(3 ũ . .ũĸ!Ĺũ)4-3.ũ ũ24ũ#2/.2.ũ 1(.ũ + 9 1Ĕũ242ũ'().2ũ -"1_2ũ8ũ 1~ ũ 2 #+Ĕũ24ũ/ "1#ũ 1+.2ũ . .ũ8ũ24ũ'#1, - ũ 4"(3'ũ . .ũ/ 2¢ũ %1 3.2ũ,.,#-3.2ũ#-ũ#23 ũ%1 -ũăũ#23 ēũ
(/$""(=+ $&(,+ ) $+1/, #$) $/3("(, #$ $+1 0 +1$/+ 0 ' "$ ) ",,/#( ) (+3(1 "(=+ #(0%/21 / #$ ) / + (+ ) #$) ,+"2/0, #$ 2)12/ /(!21 /( $+ ) .2$ ),0 /$-/$0$+1 +1$0 #$) $+1/, #$ #2" "(=+ :0(" 6 2$3$ #$ "12!/$7 $) $+1/, #2" 1(3, ) +$1 52) $) $+1/, #2" 1(3, + ;, 4 ) 0"2$) +2$) #$) /*$+ "' +, ",*-$1(/:+ -,/ $) -/(*$/ )2& / 2& / ,)(0$, #$) ,)$&(, +1, ,*(+&, #$ 25*:+ ,/ ,/ *! 1$< $"' 2+$0 #$ !/() #$ 9 8
/-.*/
/--+&
(,#ũ . .Ĕũ ~" ũ 404#ũ8ũ #(""8ũ . .ũ$#+(!(3 1.-ũ ũ -(3 ũ/.1ũ!4,/+(1ũ4-ũ .ũ ,;2ũ"#ũ5(" ēũ
ƒ § Ä Ä€ Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
2.2ĹŠ/1. +#, 2ĹŠ#-ĹŠ#+ĹŠ /1#-"(9 )#
"4! ".1#2Ŋ8Ŋ/ "1#2Ŋ"#Ŋ$ ,(+( Ŋ "# #-Ŋ#23 1Ŋ 3#-3.2Ŋ Ŋ+ 2Ŋ !3(Ĺ 34"#2Ŋ04#Ŋ,4#231#-Ŋ/1. +#, 2ēŊ
oW gk[ W\[YjWd Wb h[dZ_c_[dje o bWi h[bWY_ed[i _dj[hf[hiedWb[i Z[ iki ^_`ei$ Kd d_‹e Yed fheXb[cWi Z[ Wfh[dZ_pW`[ ik[b[ j[d[h kd d_l[b dehcWb Z[ _dj[b_][dY_W" Z[ W]k# Z[pW l_ikWb o WkZ_j_lW$ ;b d_‹e Yed [i[ fheXb[cW i_c# Bei fheXb[cWi Z[b Wfh[dZ_pW`[ W‹ei o Yedij_jko[d kdW ]hWd fh[# fk[Z[d i[h Z[j[YjWZei [d bei + eYkfWY_ÂŒd fWhW ckY^ei fWZh[i fb[c[dj[ de fk[Z[ ^WY[h be gk[ ŇĒÄ?đČĊ
ejhei Yed [b c_ice d_l[b Z[ _dj[# } ĹŠ b_][dY_W fk[Z[d be]hWh$ ĹŠ 9WX[ WdejWh gk[ [b d_‹e Yed fheXb[cWi Z[ Wfh[dZ_pW`[ j_[# ĹŠ 1#2#-3 ĹŠ"(ÄƒĹŠ!4+3 "ĹŠ/ 1 ĹŠ#-3#-"#1ĹŠ8ĹŠ d[ fWjhed[i feYe kikWb[i Z[ Ĺ—2#%4(1ĹŠ+ 2ĹŠ"($#1#-3#2ĹŠ3 1# 2ĹŠ#ĹŠ(-2314!!(.-#2ĹŠ f[hY_X_h bWi YeiWi$ Iki fWjhed[i 04#ĹŠ2#ĹŠ+#ĹŠ#-31#% -ēŊ d[khebÂŒ]_Yei ied Z_ij_djei W bei ĹŠ 1#2#-3 ĹŠ"(ÄƒĹŠ!4+3 "ĹŠ/ 1 ĹŠ1#!.1" 1ĹŠ+.ĹŠ04#ĹŠ Ĺ— +%4(#-ĹŠ+#ĹŠ ! ĹŠ"#ĹŠ"#!(1ĹŠ.ĹŠ"#ĹŠ.1"#- 1Ä“ Z[ ejhei d_‹ei$ I_d [cXWh]e" ĹŠ .ĹŠ".,(- ĹŠ+ 2ĹŠ"#231#9 2ĹŠ ;2(! 2ĹŠ"#ĹŠ+#!Äą Ĺ— j_[d[d [d Yec‘d Wb]‘d j_fe Z[ 341 ĔŊ"#+#31#.ĔŊ#2!1(341 ĹŠ8Ä?.ĹŠ, 3#,;3(! 2ĔŊ /.1ĹŠ+.ĹŠ04#ĹŠ$1 ! 2 ĹŠ#-ĹŠ#+ĹŠ31 ).ĹŠ#2!.+ 1Ä“ \hWYWie [d bW [iYk[bW e [d ik Ye# ĹŠ (ÄƒĹŠ!4+3 "ĹŠ/ 1 ĹŠ"(23(-%4(1ĹŠ+ ĹŠ"#1#!' ĹŠ8ĹŠ+ ĹŠ Ĺ—(904(#1" ĔŊ 11( ckd_ZWZ$ ĹŠ.ĹŠ ).ĔŊ8ĹŠ' 23 ĹŠ+ 2ĹŠ+#31 2ēŊ De [i dWZW \|Y_b Z[j[YjWh YkWd# Ze kd d_‹e j_[d[ fheXb[cWi fWhW fheY[iWh bWi _d\ehcWY_ed[i$ i_d cWoeh[i Yecfb_YWY_ed[i$ ;d bW Y_kZWZ o fhel_dY_W [n_i# j[d lWh_Wi [dj_ZWZ[i [ZkYWj_lWi .2( +#2ĹŠ2.+4!(.-#2ĹŠ ;i _cfehjWdj[ gk[ Z[iZ[ iki W fh[ijWh [ijei i[hl_Y_ei" Yed fh_c[hei W‹ei Z[ l_ZW" [b d_‹e YeceZ_ZWZ Z[ ^ehWh_e o Yeijei i[ _dc_iYkoW [d WYj_l_ZWZ[i Z[ c[dikWb[i$ De ebl_Z[ gk[ [b d_‹e ^WijW Wfh[dZ_pW`[ Yece feh [`[cfbe Ykhiei Z[ cWdkWb_ZWZ[i" c‘i_# bei + W‹ei [i Yece kdW [ifed# YW" f_djkhW" ZWdpW e _d]bƒi1 [ij[ `W" WXiehX[ bei YedeY_c_[djei ‘bj_ce [ij_ckbW [b f[diWc_[dje h|f_ZWc[dj[ o [b kd \kjkhe de o b[ ZW bWi Xk[dWi XWi[i fWhW gk[ j[dZh| cWoeh[i fheXb[cWi Z[ kd \kjkhe f[h\[YY_ed[i [b _Z_ecW Wfh[dZ_pW`[$
ēŊ 2#15#ĹŠ!.-ĹŠ 3#-!(¢-ĹŠ+ 2ĹŠ !3(34"#2ĹŠ"#ĹŠ24ĹŠ'().ĔŊ2(ĹŠ3(#-#ĹŠ/1. +#, 2ĹŠ "#ĹŠ /1#-"(9 )#ĹŠÄž 8ĂŒ"#+.Ä?
: ēŊ .2Ŋ-( .2Ŋ04#Ŋ1#!( #-Ŋ#23(,4+ !(¢-Ŋ/ 1 Ŋ#+Ŋ /1#-"(9 )#Ŋ2.-Ŋ,48Ŋ !3(5.2Ŋ #-Ŋ!+ 2#ēŊ
ŇĒÄ?đČđ
ēŊ .Ŋ2#Ŋ31 3 Ŋ"#Ŋ!.-5#13(1+.Ŋ#-Ŋ%#-(.ĔŊ2(-.Ŋ"#Ŋ(-!#-3(5 1Ŋ242Ŋ/1./( 2Ŋ ' (+(" "#2Ŋ/ 1 Ŋ#+Ŋ#234"(.ēŊ
ƒ Ä
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
ēŊ " ĹŠ2; ".ĹŠ#+ĹŠ%14/.ĹŠ #-%4 ĹŠ .3(!( 2ĔŊ"#ĹŠ "(.ĹŠ ĂŒ +(! ĔŊ1# +(9 ĹŠ4-ĹŠ !3.ĹŠ!.-ĹŠ 4"(.2ĹŠ#"(3 ".2ĹŠ"#ĹŠ"(23(-3.2ĹŠ,#"(.2ĹŠ#-ĹŠ+.2ĹŠ 04#ĹŠ2#ĹŠ 3 ! ĹŠ ĹŠ+.2ĹŠ/#1(."(23 2ēŊ
ēŊ #1- -".Ŋ 4%.Ŋĸ(90ēĚĔŊ)4-3.Ŋ +Ŋ5(!#! -!(++#1Ŋ (-3.Ŋ 4* 2Ŋ ĸ"#1ēĚŊ#-Ŋ+ Ŋ 2#Ŋ _1# ēŊŊ
/!)ŋ0#-#. ŋ / ),ŋ * , ŋĒ, ),4 ,ŋ& 4)-ēŋ
;b fh[i_Z[dj[ Z[ FWhW]kWo" <[h# dWdZe Bk]e" _d_Y_ÂŒ ik l_i_jW eĂ’# Y_Wb [d ;YkWZeh Z_Y_[dZe gk[ Ækd ]hWd cel_c_[dje dk[le i[ ][d[hW [d 7cƒh_YW BWj_dWÇ$ ;d [i[ cWhYe _dZ_YÂŒ gk[ l[d‡W fWhW fhe\kdZ_pWh bei bWpei Z[ h[bWY_ÂŒd o Z[ ieb_ZWh_ZWZ Yed [b =eX_[hde [YkWjeh_Wde$ Bk]e Whh_XÂŒ W Gk_je Wo[h [d bW jWhZ[" Wbh[Z[Zeh Z[ bWi '-0*&" [d kd Wl_ÂŒd Z[ bWi <k[hpWi 7ƒ# h[Wi ;YkWjeh_WdWi <7; $ ;b 9WdY_bb[h [dYWh]WZe" A_djje BkYWi" be h[Y_X_ÂŒ [d bW XWi[ Wƒ# h[W Z[ bW <7;$ Bk[]e Z[ bW Y[h[ced_W Z[ X_[dl[d_ZW" Bk]e _dZ_YÂŒ gk[ ik l_W`[ [ijWXW fh[l_ije fWhW Z_Y_[cXh[ Z[ (&'&" \[Y^W [d gk[ i[ Ykcfb_[hed ')& W‹ei Z[ h[bWY_ed[i Z_fbec|j_YWi [djh[ WcXei fW‡i[i$ ;b CWdZWjWh_e i[‹WbÂŒ gk[ Yec_[dpW ik l_i_jW eĂ’Y_Wb [d kd W‹e [if[Y_Wb" fehgk[ [d FWhW]kWo i[ Y[b[XhW [b 8_Y[dj[#
dWh_e$ Æ(&& W‹ei Z[ l_ZW _dZ[# f[dZ_[dj[" [d bW gk[ gk[h[cei h[\ehpWh dk[ijhW Wkjedec‡W$ 9h[[cei o [ijWcei Yedl[dY_# Zei gk[ kd ]hWd cel_c_[dje dk[le i[ ][d[hW [d 7cƒh_YW BWj_dW" Yed [i[ [if‡h_jk Z[ h[# delWY_ÂŒd" Z[ fhe\kdZ_pWh bWpei Z[ ieb_ZWh_ZWZ Yed ;YkWZehÇ$ Bk[]e Z[ kd f[gk[‹e Z_i# Ykhie o Z[ [dl_Wh kd iWbkZe Wb fk[Xbe [YkWjeh_Wde" i[ Z_h_]_ÂŒ `kdje W ik Yec_j_lW W kd ^ej[b Z[ bW YWf_jWb" fWhW c|i jWhZ[ Ykcfb_h Yed ik W][dZW Z[ WYj_# l_ZWZ[i$ Ik fh_c[h [l[dje [i# jWXW fh[l_ije [d bW deY^[" [d bW ;cXW`WZW Z[b FWhW]kWo" ZedZ[ i[ h[kd_h‡W Yed bW Yebed_W Z[ fWhW]kWoei [d ;YkWZeh$ ;b bkd[i [ij| fh[l_ijW bW h[k# d_ÂŒd eĂ’Y_Wb Yed HW\W[b 9ehh[W o [b cWhj[i [ij| W][dZWZW kdW Y_jW Yed bei i[Yjeh[i fheZkYj_# lei Z[ =kWoWgk_b$
) # ,()ŋ )(., . ŋ (. ŋ ,v.# -ŋ*),ŋ Ą Ąŋ +Ŋ 1#2("#-3#Ŋ 2#%41 Ŋ04#Ŋ+ 2Ŋ"#-4-Ĺ !( 2Ŋ2.-Ŋ(-$4-" " 2Ŋ8Ŋ+ Ŋ -!(++#1~ Ŋ 1#!+ , Ŋ Ŋ+ Ŋ ē Ŋ Ŋ Ŋě HW\W[b 9ehh[W
h[WYY_edÂŒ Wo[h [d [b [dbWY[ iWXW# j_de Wdj[ bWi i_ij[c|j_YWi Yh‡j_YWi gk[ ^Wd l[d_Ze Z[iZ[ [b [nj[h_eh feh ik WYY_edWh Wdj[ bW fh[diW _dZ[f[dZ_[dj[ o" [d ][d[hWb" Wdj[ gk_[d[i f_[di[d YedjhWh_Wc[dj[ Wb Hƒ]_c[d$ ;b Fh[i_Z[dj[ Yh_j_YÂŒ W bW IeY_[ZWZ ?dj[hWc[h_YWdW Z[ Fh[diW I?F " Z[ bW gk[ Z_`e" Æj_[# d[ kd decXh[ Xed_jeÇ" f[he gk[ h[fh[i[djW iebe W bei Zk[‹ei Z[ c[Z_ei$ ;d kd ZeYkc[dje" bW I?F WfkdjÂŒ gk[ ÆYece fh_c[h Y_k# ZWZWde [ij| eXb_]WZe W iec[# j[hi[ Wb [iYhkj_d_e f‘Xb_Ye" W eXi[hlWh bWi c|i WbjW jeb[hWd# Y_W W bW Yh‡j_YW o de kj_b_pWh bei h[Ykhiei Z[ bW WZc_d_ijhWY_ÂŒd Z[ `kij_Y_W fWhW f[hi[]k_h W gk_[d[i be Yh_j_YWd o ckY^e c[dei" [b Z[h[Y^e f[dWb o [b WhYW_Ye Z[iWYWje fWhW fh[j[d# Z[h bb[lWhbei W fh_i_ÂŒd feh iki _Z[Wi e feh _d\ehcWh Z[ \ehcW _dZ[f[dZ_[dj[Ç$ 9ehh[W" feh ik fWhj[" Z_`e Wo[h [d C_bW]he0 ÆI[# ‹eh[i Z[ bW I?F" lWoWd W [n_]_h W
ZWdW h_eXWcX[‹W ?hcW FWhhW" [b Fh[i_Z[dj[ Wi[]khÂŒ gk[ Z_Y^W Y_kZWZWdW [i ÆkdW f[bkYedW" [ifeiW Z[ kd [n]eX[hdWZeh Z[ <WX_|d 7bWhYÂŒdÇ$ FWhhW \k[ Z[# j[d_ZW [b c_ƒhYeb[i [d H_eXWc# bW YWiW Z[ ik WXk[b_jWÇ$ XW" i[]‘d [bbW" feh ^WX[h ^[Y^e 7 bW WZl[hj[dY_W Z[ bW I?F i[ i[‹Wb[i Z[ ĂˆDeÉ Wb CWdZWjWh_e" ikcÂŒ [b l_[hd[i bW Z[ bW H[bWjeh‡W [d h[\[h[dY_W W bW YedikbjW$ 9e# fWhW bW B_X[hjWZ Z[ ;nfh[i_ÂŒd Z[ hh[W" feh ik fWhj[" Z_Y[ gk[ bW bW 9ec_i_ÂŒd ?dj[hWc[h_YWdW Z[ ck`[h b[ ^_pe i[‹Wi eXiY[dWi" :[h[Y^ei >kcWdei 9?:> " gk[ cej_le ikĂ’Y_[dj[ fWhW i[h Z[# Wi[]khÂŒ gk[ bWi h[Y_[dj[i j[d_ZW$ ;b Fh[i_Z[dj[ bbW# WYY_ed[i WZefjWZWi YedjhW ĹŠ cÂŒ W bW Y_kZWZWd‡W gk[ bei Yh‡j_Yei Z[b Hƒ]_c[d fh[i[dY_ÂŒ [b ^[Y^e W ZWh h[l[bWd gk[ [b fW‡i i[ Wb[`W ik l[hi_ÂŒd W jhWlƒi Z[ bW Z[ bei [ij|dZWh[i _dj[hW# 4, -ĹŠ (%'32ĹŠ 3!'Ŋĸ ĚĔŊ f|]_dW m[X Z[ 9WhedZ[# c[h_YWdei Z[ b_X[hjWZ Z[ #/.13#1.2ĹŠ (-ĹŠ b[j$ 1.-3#1 Ŋĸ ĚŊ [nfh[i_ÂŒd$ 9ed h[if[Yje W bW Z[# 3 , (_-ĹŠ' -ĹŠ!1(Äą ;d kd Yeckd_YWZe" bW 3(! ".ĹŠ+ ĹŠ !3(34"ĹŠ j[dY_ÂŒd Z[ =[hcWd Fed# "#+ĹŠ -" 3 1(.ēŊ 9WdY_bb[h‡W h[YbWcÂŒ Wo[h Y[" YWcf[i_de Z[ IWbY[# bW WYj_jkZ Z[b eh]Wd_ice Ze gk[ \k[ Wfh[iWZe [b WZiYh_je W bW Eh]Wd_pWY_ÂŒd Z[ ;i# cWhj[i feh _dikbjWh W 9ehh[W" [b jWZei 7c[h_YWdei E;7 " Z[ bW CWdZWjWh_e Wi[]khÂŒ gk[ ƒb Yh[‡W gk[ ;YkWZeh \ehcW fWhj[$ I[]‘d gk[ i[ be ^WX‡Wd bb[lWZe feh [i# bW YWhj[hW Z[ h[bWY_ed[i [nj[hdWi" jWh [Xh_e [d bW l‡W f‘Xb_YW o gk[ bW fei_Y_ÂŒd _dj[hWc[h_YWdW [i bk[]e i[ iehfh[dZ_ÂŒ Wb l[h [b kdW _dj[h\[h[dY_W [d bei Wikdjei fWhj[" [d [b gk[ i[ WfkdjWXW gk[ _dj[hdei Z[b fW‡i$ BW 9WdY_bb[h‡W \k[ [dYWhY[bWZe feh \WbjWh [b h[i# f_Z_ÂŒ gk[ [b eh]Wd_ice ÆWYj‘[ f[je Wb Fh[i_Z[dj[$ ;d [b [dbWY[" Yed Wf[]e Wb cWhYe `kh‡Z_Ye l_d# [b b‡Z[h Z[ F7?I Wi[]khÂŒ gk[ bei \Wc_b_Wh[i Z[ FedY[ _dYbkie ied YkbWdj[ Z[ ik Yecf[j[dY_W$ Z[b cel_c_[dje feb‡j_Ye Z[ =e# .-31 ĹŠ!(4" " -.2ĹŠ X_[hde o gk[ i[ [if[hW WbcehpWh IeXh[ bW Z[j[dY_ÂŒd Z[ bW Y_kZW# Yed [bbei$
/ -Ĺ‹*),Ĺ‹&#-. Ĺ‹ ŋŋ ( # .)-Ĺ‹ Ĺ‹ #- &ŋŋ BW Z[i_]dWY_ÂŒd Z[ bei Z_[p c[`e# Æ7^ehW h[ikbjW gk[ Wb]k_[d gk[ h[i fkdjkWZei [d bWi fhk[XWi Z[ j_[d[ kdW XW`W dejW [d bW fhk[XW cƒh_jei o efei_Y_ÂŒd fWhW <_iYWb WfWh[Y[ fh_c[heÇ" i[ iehfh[dZ[ =[d[hWb fheleYW c|i Z[ kdW iei# FWY^WbW" gk_[d Wi[]khW gk[ bW f[Y^W o Z[iYedj[dje$ Bk_i FWY^WbW" 9ec_i_ÂŒd Z[ I[b[YY_ÂŒd Z[X[h| c_[cXhe Z[ 9edi[`e Z[ FWhj_Y_fW# h[ifedZ[h [b feh gkƒ Z[ [i[ fhe# Y_ÂŒd 9_kZWZWdW o 9edjheb IeY_Wb Y[Z[h o Wi‡ iWYWh W bW bkp f‘Xb_YW 9fYYi " Wi[]khÂŒ Wo[h gk[ i[ lkbd[# i_ ^kXe fh[i_ed[i feb‡j_YWi$ hÂŒ [b fheY[ie$ ÆI[ WfheXÂŒ kd ehZ[d Bei Wif_hWdj[i @eiƒ 9^|l[p Z[b Z‡W [d [b gk[ [ijWXW fh[l_ije FedY[ eXjkle +, fkdjei o =bWZoi J[h|d eXjkle -- fkdjei gk[ i[ YedepYW [b _d\ehc[ Z[dkdY_Whed jWcX_ƒd _hh[# jƒYd_Ye Z[ bWi [lWbkWY_ed[i ĹŠ o iebe i[ b[o[hed bWi dejWiÇ" ]kbWh_ZWZ[i o f_Z_[hed gk[ h[YbWcÂŒ$ i[ ^W]Wd f‘Xb_Yei bei Yh_j[# ;b Yedi[`[he WZl_[hj[  - ĹŠ+ ĹŠ h_ei jƒYd_Yei gk[ bb[lWhed W .,(2(¢-ĹŠ gk[ jeZei bei YWdZ_ZWjei (4" " - ĹŠ"#ĹŠ \ehckbWh bW b_ijW Ă’dWb$ #+#!!(¢-ĹŠ-.3($(Äą j[d‡Wd Z[h[Y^e W iWX[h ! 1;ĹŠ ĹŠ+.2ĹŠÄˆÄ‡ĹŠ feh gkƒ eXjkl_[hed jWb e ,#).1ĹŠ/4-34 Äą 1(,#1.2ĹŠ ".2ĔŊ04#ĹŠ/ 2 -ĹŠ ĹŠ YkWb dejW o gk[ de ^WY[hbe + ĹŠ2(%4(#-3#ĹŠ$ 2#Ä“ BWi ZkZWi Wkc[djWd fk[i [djkhX_W jeZe [b fheY[ie$ [b fh_c[he [d bW b_ijW [i kd
Xk[d Wc_]e Z[ 9WhedZ[b[j" =Wbe 9^_h_Xe]W" gk_[d eXjkle .+ fkd# jei" f[he [d [b [nWc[d be]hÂŒ kd fkdjW`[ Z[ ),$ ;d i[]kdZe bk]Wh [ij| 7djed_e =W]b_WhZe" Ă’iYWb Z[ =kWoWi o ^[hcWde ][c[be Z[ =WijÂŒd =W]b_WhZe" WiWcXb[‡ijW Z[ F7?I$ 9^_h_Xe]W \k[ [nfh[i_Z[dj[ Z[ F[jhe[YkWZeh" c_d_ijhe Z[ JhWXW`e o Z[ =eX_[hde Z[b =e# X_[hde Z[ 7b\h[Ze FWbWY_e$ 9ed HW\W[b 9ehh[W ^W i_Ze c_d_ijhe Z[ C_dWi o F[jhÂŒb[ei" WXe]WZe Z[b Fh[i_Z[dj[" YWdZ_ZWje [d bWi fh_cWh_Wi fWhW bW 7bYWbZ‡W Z[ Gk_je [d [b i[de Z[ 7b_WdpW F7?I o ^eo [d Z‡W [cXW`WZeh Z[ ;YkWZeh [d ;ifW‹W$ ;i fWhW ckY^ei bW YWhjW Z[b
ēŊ 4(2Ŋ !' + ĔŊ5.! +Ŋ"#Ŋ .-2#).Ŋ"#Ŋ 13(!(/ !(¢-Ŋ (4" " - ēŊ
Fh[i_Z[dj[ fWhW bb[]Wh W i[h <_i# YWb =[d[hWb$ 7^ehW j_[d[ \h[dj[ W i‡ [b fheY[ie Z[ _cfk]dWY_Œd" ZedZ[ bW Y_kZWZWd‡W feZh| fh[# i[djWh iki Z[dkdY_Wi$ <[hdWdZe L_bbWl_Y[dY_e" i_dZ_YWb_ijW f[jhe#
b[he" ^W Yh_j_YWZe ik YWdZ_ZWjkhW feh [ijWh" i[]‘d ƒb" _cfb_YWZe [d [b YWie FWbe 7pkb i[ WYkiW W lW# h_ei i_dZ_YWZei Z[ fh[ikdje f[# YkbWZe [d bW WZ`kZ_YWY_Œd _b[]Wb Z[b YWcfe $
Ä‚
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ĺ‹ Ĺ‹
Ć ŋ ŋ
ĹŠ/1#%4-3 ĹŠ2. 1#ĹŠ+ ĹŠ242/#-2(¢-ĹŠ"#ĹŠ#2/#!3;Äą !4+.2ĹŠ/ĂŒ +(!.2ĹŠ04#ĹŠ ! 11##-ĹŠ+ ĹŠ,4#13#ĹŠ"#ĹŠ4-ĹŠ -(, +ĹŠ/1#.!4/ ĹŠ ĹŠ+ ĹŠ!(4" " -~ ĹŠ/.104#ĹŠ#23 Äą 1~ -ĹŠ+(,(3 -".ĹŠ"#!(2(.-#2ĹŠ/#12.- +#2Ä“
¥ ēŊ Ŋ (#23 Ŋ 1 5 Ŋ 31 #Ŋ Ŋ+.2Ŋ , -3#2Ŋ"#Ŋ+ Ŋ3 41., 04( ē
ēŊļ +ĹŠ .134% ČĔŊ4-ĹŠ#,Äą +#, ĹŠ"#ĹŠ+ ĹŠÄƒ#23 ĹŠ"#!#, 1(- ĔŊ#-ĹŠ 4(3.Ä“
ēŊ +Ŋ31 )#Ŋ"#Ŋ+4!#2Ŋ#2Ŋ !.-$#!!(.- ".Ŋ/.1Ŋ'; (+#2Ŋ, -.2ŊŊ #!4 3.1( - 2ē
[\jWb‡ 9WiWi" c|i YedeY_Ze [d bW Wh[dW Yece Ăˆ;b Jehjk]WÉ" bb[lW *, W‹ei [d [b ckdZe Z[ bei jehei$ ;ij[ f[h# iedW`[ ^WY[ )( W‹ei fWhj_Y_fW Yece XWdZ[h_bb[he [d bW <[h_W Z[ Gk_je o Yec[djW gk[ [ij[ [i [b cec[dje c|i Zkhe Z[ ik YWhh[hW$ BW fh[eYkfWY_ÂŒd de iebe [i fWhW 9WiWi i_de jWcX_ƒd fWhW bWi c|i Z[ /- c_b \Wc_b_Wi gk[ l_l[d Z[ bei jehei" Wi‡ Yece Z[ bei c_b[i c|i Ykoe ikij[dje [i W jhWlƒi Z[ bWi f[b[Wi Z[ ]Wbbei$ O [i gk[ bW fh[]kdjW ) Z[ bW 9ed# ikbjW FefkbWh fbWdj[W bW fei_X_b_ZWZ Z[ fhe^_X_h bei [if[Yj|Ykbei ZedZ[ [n_ijW bW ck[hj[ Z[b Wd_cWb$ 7kdgk[ [b Fh[i_Z[dj[ Z[ bW H[# f‘Xb_YW" fhefed[dj[ Z[ bW 9edikb# jW" YbWh_Ă’YWhW gk[ bW _dj[hhe]Wdj[
[ij| Z_h_]_ZW ‘d_YWc[dj[ W bW ck[hj[ Z[b jehe" bei ]Wbb[# hei de i[ i_[dj[d jhWdgk_bei" fk[ije gk[ [d [b j[nje de i[ [ijWXb[Y[ bW [nY[fY_ÂŒd$ FWhW DƒnWh 8Whh[je" ]Wbb[he Z[ Bei H‡ei" bWi f[b[Wi ied kdW YeijkcXh[ o kd Z[fehj[ iWde Wb YkWb b[ Z[Z_YWd bei \_d[i Z[ i[cW# dW fWhW [l_jWh [b [ijhƒi$ Ieij_[d[ gk[ bW fhe^_X_Y_ÂŒd b[i W\[YjW de iebe [d be [YedÂŒc_Ye" i_de [d YkWdje W gk[ j[hc_dWh‡Wd Yed kdW jhWZ_Y_ÂŒd$ ;d jWdje" bei Z[\[dieh[i Z[ bei Z[h[Y^ei Z[ bei Wd_# cWb[i bkY^Wd fWhW gk[ bWi Yehh_ZWi i[Wd WXeb_ZWi W d_l[b dWY_edWb$ Fed[d Yece [`[cfbe b 9WjWbk‹W ;ifW# ‹W " Wkdgk[ [d [iW 9eck# d_ZWZ 7kjÂŒdecW bW fhe^_# X_Y_ÂŒd h[ifedZ_ÂŒ c|i W kd h[lWdY^W feb‡j_YW YedjhW CWZh_Z o bW YkbjkhW jhWZ_# Y_edWb [ifW‹ebW$ 7Z[c|i" feYei Z‡Wi Wdj[i Z[ bW Z[Y_# i_ÂŒd Z[b FWhbWc[dje Z[ 9W# jWbk‹W" i[ ^WX‡W d[]WZe [d CWZh_Z [b ;ijWjkje 7kjedÂŒ# c_Ye Z[ bei YWjWb[d[i$ .-!4+! -ĹŠ+( #13 "#2
FWhW `kh_ijWi Yece <Wh_j^ I_ced" bW fh[]kdjW l_ebW Wh# j‡Ykbei Z[ bW 9edij_jkY_ÂŒd" [djh[ [bbei" [b Z[h[Y^e Z[ bWi f[hiedWi W Yedijhk_h o cWd# j[d[h ik fhef_W _Z[dj_ZWZ o YkbjkhW" W WYY[Z[h o [nfh[iWh YkbjkhWi Z_l[hiWi" W bW h[Yh[W# Y_ÂŒd o W ef_dWh o [nfh[iWh ik f[diWc_[dje b_Xh[$ ;b WYWZƒ# c_Ye Z[ bW Kd_l[hi_ZWZ IWd <hWdY_iYe Yec[djW gk[ bW fh[]kdjW gk[ ^Wo gk[ ^WY[h# i[ [i i_ bWi h[ijh_YY_ed[i ied b[]‡j_cWi$ ÆC[ fWh[Y[ gk[ ied _d‘j_b[iÇ" WĂ’hcW o W‹WZ[ gk[ be c|i ]hWl[ Z[ bWi fh[# ]kdjWi [i ÆbW WYkckbWY_ÂŒd Z[ feZ[hÇ$ ,/+#.2ĹŠ#-ĹŠ1(#2%.
FWhW [b XWdZ[h_bb[he 9WiWi" Z[ jh_kd\Wh [b I‡" bW Z_ifei_# Y_ÂŒd _h‡W YedjhW kdW jhWZ_Y_ÂŒd Wdj_]kW [if[Y_Wbc[dj[ [djh[ bei gk_j[‹ei$ ÆOe leo W lejWh De" fehgk[ /- c_b \Wc_b_Wi i[ gk[ZWh‡Wd i_d jhWXW`eÇ" Z_Y[$ ;d YkWdje W bW Yhk[bZWZ
.-24+3
1#%4-3 ĹŠÄŠ
Ä 23;ĹŠ423#"ĹŠ"#ĹŠ !4#1".ĹŠ04#ĹŠ#-ĹŠ#+ĹŠ ! -3¢-ĹŠ"#ĹŠ24ĹŠ".,(!(+(.ĹŠ2#ĹŠ/1.'~ ĹŠ +.2ĹŠ#2/#!3;!4+.2ĹŠ04#ĹŠ3#-% -ĹŠ!.,.ĹŠ ă- +(" "ĹŠ" 1ĹŠ,4#13#ĹŠ +ĹŠ -(, +Ä&#x;
Yed [b Wd_cWb" 9WiWi i[‹WbW gk[ Æ[b jehe Z[ b_Z_W i[ ^_pe fWhW ce# h_h [d kd fbWpW" \k[ Yh_WZe fWhW [ie" de fWhW ceh_h ^_fÂŒYh_jW# c[dj[ \k[hW Z[ bW fbWpWÇ$ FWhW Ăˆ;b Jehjk]WÉ" i_ ]WdW [b I‡" bWi Yehh_ZWi lWd W YWcX_Wh fWhW cWb$ ÆOW de lW W i[h bW c[`eh \[# h_W Z[ 7cƒh_YW i_de bW f[eh \[h_W o oW de lWd W l[d_h bei jeh[hei h[YedeY_Zei fehgk[" be fed]e Z[ [ijW \ehcW" i_ fhe^_X_[hWd bei ]eb[i [d [b \‘jXeb" bei [njhWd`[hei oW de l[dZh‡Wd W `k]WhÇ" Z_Y[ kd deij|b]_Ye D[\jWb‡$ 1 )#2ĹŠ-.ĹŠ 1(++ 1;7bh[Z[Zeh Z[ kdW Yehh_ZW jWcX_ƒd i[ cWd[`Wd ejhei d[# ]eY_ei" Ykoei Zk[‹ei [ij|d fh[eYkfWZei$ ;ij[ [i [b YWie Z[ ;\hW‡d Ceh[de" [b iWijh[ c|i h[YedeY_Ze Z[ bei jeh[hei gk_j[‹ei" oW gk[ bb[lW '. W‹ei ^WY_[dZe jhW`[i Z[ bkY[i$ Ceh[de" YedeY_Ze Yece Ăˆ;b L_jeÉ" WĂ’hcW gk[ ik leje [d je# ZWi bWi fh[]kdjWi i[h| De$ ÆBW fh[]kdjW Z[ bei jehei j_[d[ Ze# Xb[ \edZe" Wi‡ dei gk_[h[d c[# j[h bW cWde [d kdW WYj_jkZ gk[ Z[X[h‡W i[h Z[ b_Xh[ [b[YY_ÂŒdÇ$ FWhW ƒb" bW Z[Y_i_ÂŒd Z[ gk[ de i[ cWj[ Wb jeh_je Z[j[hc_dWh| gk[ ckY^Wi \_]khWi Z[b jeh[e oW de gk_[hWd l[d_h W bW <[h_W Z[ :_Y_[cXh[ Æo [ie lW W WYWhh[Wh Z[i[cfb[eÇ$ Ăˆ;b L_jeÉ i_[dj[ gk[ ied kdW c_deh‡W de [iYkY^WZW$ Æ;b Fh[# i_Z[dj[ ^WY[ be gk[ ƒb gk_[h[ Yece kd Z_YjWZeh" dkdYW [iYk# Y^ÂŒ Wb bWZe jWkh_de" iebe [iYk# Y^ÂŒ W bW ][dj[ gk[ [ij| [d YedjhW Z[ bei jehei$ Feh [ie" oe [ijeo [d YedjhW Z[ jeZW bW YedikbjW oW gk[ ^Wo YeiWi c|i _cfehjWdj[i gk[ ^WY[h0 d[Y[i_jWcei iWbkZ" [ZkYWY_ÂŒd$$$ o W^ehW dei [ij|d gk_jWdZe kdW \k[dj[ Z[ jhWXW# `eÇ" WĂ’hcW Ceh[de$
Ä’ & , Ĺ‹ Ĺ‹! && ,)ēŋ -.6Ĺ‹ (Ĺ‹ ,# -!) F[i[ W gk[ [b Fh[i_Z[dj[ Z[ bW H[# f‘Xb_YW ^W i[‹WbWZe gk[ bW fh[# ]kdjW ieXh[ bW fhe^_X_Y_ÂŒd Z[ [i# f[Yj|Ykbei f‘Xb_Yei Yed ck[hj[ Z[b Wd_cWb de WjW‹[ W bei ]Wbbei" [d [b ]h[c_e [n_ij[ fh[eYkfWY_ÂŒd o j[c[d gk[ i[ j[hc_d[ Yed kdW jhWZ_Y_ÂŒd fefkbWh cko WhhW_]W# ZW [d bW feXbWY_ÂŒd$ 7k]kije 7]k_hh[" kd Yed# ik[jkZ_dWh_e Yh_WZeh o `k]WZeh Z[ ]Wbbei Z[ bW pedW Z[ DeXeb [d bW fhel_dY_W Z[b =kWoWi" Wi[]khW ^WX[h [iYkY^WZe Wb fh[i_Z[dj[ HW\W[b 9ehh[W Z[Y_h gk[ bWi b_Z_Wi Z[ ]Wbbei de lWd W Z[iWfWh[Y[h o gk[ iebe i[ iki# f[dZ[h| [b [l[dje ZedZ[ ck[# h[ [b Wd_cWb$ ÆOe gk_[he Yh[[hb[ Wb i[‹eh Fh[i_Z[dj[" f[he Yece b[ ^[ [i# YkY^WZe Z[Y_h jWdjWi YeiWi gk[ Z[ifkƒi bWi YWcX_W" c[`eh b[ f_Ze gk[ h[j_h[ bW fh[]kdjW Z[ bW YedikbjWÇ" Z_`e$ ÆBW fhefW]WdZW [i Xed_jW" f[he i[ Z[X[ h[j_hWh bW fh[]kd# jWÇ" _di_ij_ÂŒ [b ^ecXh[ gk[ Yed iki ]Wbbei h[Yehh[ bei Yeb_i[ei Z[ DeXeb" :Wkb[" IWdjW BkY‡W" 8Wb# pWh" ;b ;cfWbc[" L_dY[i" Gk[l[# Ze o =kWoWgk_b$ ;d _]kWb i[dj_Ze i[ fhedkd# Y_W DƒnWh 8Whh[je" Z[ Bei H‡ei" gk_[d i[‹WbW gk[" jWdje bei fhe# f_[jWh_ei Z[ Yeb_i[ei Z[ ]Wbbei o Zk[‹ei Z[ bei Wd_cWb[i Z[ bW fhel_dY_W i[ h[kd_[hed [d Gk_je Yed [b ]eX[hdWZeh fWhW WdWb_pWh bW _dj[hhe]Wdj[ o Yed bW Ă’dWb_ZWZ Z[ _cf[Z_h gk[ de i[ Yedikbj[
ĹŠ
4#13# "(%- "#+ĹŠ% ++. CWh_e LWbb[`e" fefkbWh Yh_W# Zeh Z[ ]Wbbei [d CWY^WbW" i[‹WbW gk[ ik ]h[c_e [ij| jhWdgk_be feh bWi Z[YbWhWY_e# d[i Z[b fh[i_Z[dj[ HW\W[b 9e# hh[W" [d bWi YkWb[i [nfb_YW gk[ bWi f[b[Wi Z[ ]Wbbei de j_[d[d Yece Ă’dWb_ZWZ bW ck[hj[ Z[ bei Wd_cWb[i$ ÆBei ]Wbbei ied kdW jhWZ_# Y_ÂŒd Z[b fk[Xbe [d jeZWi iki [i\[hWi ieY_Wb[i o gk_jWhb[i [ijW jhWZ_Y_ÂŒd [i f[]Whb[i [d ik _Z[dj_ZWZ$ I[‹eh[i" bW ck[hj[ Z[ kd ]Wbbe [d f[b[W [i cko Z_]dW [d YecfWhWY_ÂŒd W bWi ck[hj[i Z[ Wd_cWb[i [d bei YWcWb[iÇ" i[dj[dY_ÂŒ LWbb[# `e" ]Wbb[he gk[ bb[lW *& W‹ei [dlk[bje [d [b ckdZe Z[ bWi
ēŊ -Ŋ+ 2Ŋ/#+# 2Ŋ"#Ŋ% ++.2Ŋ-.Ŋ#7(23#Ŋ/1#2#-!( Ŋ/.+(!( +ĔŊ/.1Ŋ!4 -3.Ŋ ! " Ŋ% ++#1.Ŋ' !#Ŋ1#2/#3 1Ŋ24Ŋ/ + 1 ē
ieXh[ [ij[ j[cW fehgk[ b[i W\[Y# oeh[i _d]h[iei Yed [ijW WYj_l_# jWh‡W" f[he de eXjkl_[hed Xk[dei ZWZ" Z[iZ[ ^WY[ *& W‹ei i[ ^W h[ikbjWZei$ Z[Z_YWZe Wb Yk_ZWZe Z[ [ijei Wd_cWb[i$ ;d [ijW fhel_dY_W bWi Wfk[i# 1 "(!(¢-ĹŠ-.ĹŠ"# #ĹŠ,.1(1 Feh ejhW fWhj[" gk_[d[i i[ Z[Z_# jWi Ă“kYj‘Wd Z[iZ[ (&& ^WijW YWd Wb Yk_ZWZe Z[ bei ]Wbbei i[ c|n_ce +&&1 bWi [djhWZWi W d_[]Wd W Yh[[h gk[ [ijW Yeijkc# bei Yeb_i[ei" feh i[h Z[ c[deh Xh[ Z[iWfWh[pYW$ ;b h_ei[di[ Z_c[di_ÂŒd" j_[d[d kd Yeije Z[ Dƒijeh 7ijkZ_bbe ck[ijhW ik j[# [djh[ ( o +" feh be gk[ de ][# ceh Z[ gk[ZWhi[ i_d jhWXW`e" oW d[hW kdW ]hWd h[djWX_b_ZWZ$ gk[ [ij[ ^|X_je ^W i_Ze ik fh_d# BW Wi_ij[dY_W Z[ f[hiedWi W bei Yeb_i[ei [i ikf[h_eh W )&&" i[]‘d Y_fWb ikij[dje$ 7 f[iWh Z[ de eXj[d[h cW# [b fh[ij_]_e Z[b bk]Wh" i[ _dZ_YÂŒ$
ĹŠĹŠ
(#23 ĹŠ/./4+ 1ĹŠ8ĹŠ,.-34 ( ÆL_l_cei Z[ [ije" Wgk‡ de b[ ^W# Y[cei ZW‹e W dWZ_[ o jhWXW`Wcei ^edhWZWc[dj[ Yed dk[ijhei Wd_# cWb[iÇ" [i be gk[ i[‹WbW 7b[nWd# ZhW Fb‘Wi" fhef_[jWh_W Z[b fWb[d# gk[ ĂˆBW F[Y^k]edWÉ" Z[b YWdjÂŒd DeXeb" fhel_dY_W Z[b =kWoWi$ ;ije" fehgk[ [ij_cW gk[ [d bW fhÂŒn_cW YedikbjW fefkbWh" Z[ [ij[ - Z[ cWoe" [b =eX_[hde XkiYW j[h# c_dWh Yed kdW jhWZ_Y_ÂŒd Yeij[hW" gk[ W Z_\[h[dY_W Z[ bWi b_Z_Wi Z[ jehe" fhej[][ bW l_ZW Wd_cWb$ Æ;d YWZW f[b[W" [b ]Wbbe de ck[h[" ^Wo [b _dij_dje dWjkhWb Z[b Wd_cWb Z[ h[j_hWhi[ Z[b YecXWj[" YkWdZe i_[dj[ gk[ fk[Z[ ceh_hÇ" Yec[djW Fb‘Wi" c_[djhWi bei WĂ’# Y_edWZei W bWi b_Z_Wi Yec_[dpWd W Whh_XWh Z[ W feYe Wb fWb[dgk[ gk[ [bbW fei[[ [d fb[de Y[djhe Z[b YWdjÂŒd$ Bei `k]WZeh[i" Yh_WZeh[i o WfeijWZeh[i l_[d[d Z[ Z_ij_djei bk]Wh[i Z[ =kWoWi o ejhWi fhe# l_dY_Wi bei Ă’d[i Z[ i[cWdW$ ÆB[ Z_]e gk[ l_l_cei Z[ [ije fehgk[ [b fWb[dgk[ [i c‡e" c_ dk[hW c[ Wj_[dZ[ bW l[djW Z[ Y[hl[pWi" ejhW ieXh_dW YedjhebW
[b _d]h[ie" c_ [ifeie bWi f[b[Wi o c_ ejhe \Wc_b_Wh WdejW bWi Wfk[i# jWiÇ" Z_Y[$ 7‹WZ[ gk[ [ij[ [i kd d[]e# Y_e gk[ b[ f[hc_j[ l_l_h W ck# Y^Wi \Wc_b_Wi o i[ _dj[hhe]W0 ÂľI_ bW ][dj[ Z_Y[ I‡" ZÂŒdZ[ lWcei W fWhWh5 ;b `k[]e WZ[c|i b[ e\h[Y[ kdW h[ckd[hWY_ÂŒd [YedÂŒc_YW Wb |hX_jhe Z[ bW f[b[W" Wb f[iWZeh o Yh_WZeh Z[b Wd_cWb$ J[h[iW BÂŒf[p" fhef_[jWh_W Z[b Yeb_i[e ĂˆBei 9ecfWÉ" Z[ :Wkb[" c_[djhWi WfkhW kdW c[d[ijhW Z[ \hƒ`eb[i fWhW bW l[djW Z[b Z‡W" i[# ‹WbW gk[ YWZW h[kd_ÂŒd iWXWj_dW b[ i_]d_Ă’YW ]WdWh [djh[ .& o '&& ZÂŒbWh[i" be YkWb de gk_[h[ f[hZ[h i_ bW ][dj[ lejW I‡ [d bW YedikbjW$ ;ije" feh YedY[fje Z[ [djhWZWi" Y[hl[pWi o YebWi$ ;d Ăˆ;b Z[iYWdie Z[ F[f[É" kdW ]Wbb[hW Z[b i[Yjeh Z[ bW F[# h_c[jhWb" [d =kWoWgk_b" oW i[ ^W YebeYWZe ]hWdZ[i b[jh[hei gk[ XkiYWd bb[lWh W bei [b[Yjeh[i W lejWh De [d bW fh[]kdjW Z[ ]W# bbei o jehei$ ?dYbkie" fhefW]WdZW h[]WbWZW feh bW W]hkfWY_ÂŒd Z[b cƒZ_Ye Bk‡i I[hhWde" i[ [n^_X[
¥ ēŊ -3#2Ŋ"#Ŋ+ 2Ŋ+("( 2Ŋ +.2Ŋ -(, +#2Ŋ2.-Ŋ2.,#3(".2Ŋ Ŋ4-Ŋ!.3#Ĺ ) ,(#-3.Ŋ"#Ŋ242Ŋ#2/#!(#2ēŊ -Ŋ . .+Ŋ2#Ŋ 3#,#Ŋ04#Ŋ+ ŊŊ31 "(!(¢-Ŋ"#2 / 1#9! ē
[d [b Yeb_i[e$ CWh_W F_bWjeW" kdW _dZ‡][dW Z[ 9^_cXehWpe" jWcX_ƒd \ehcW fWhj[ Z[b d[]eY_e Z[ bWi f[b[Wi Z[ ]Wbbe W jhWlƒi Z[ bW l[djW Z[ [ifk[bWi" Y_djWi Z[ Yebeh[i" l[# bWi" f_jei" [djh[ ejhei _cfb[c[d# jei fWhW kie Z[ bWi `ehdWZWi$ BWi Wfk[ijWi [d bW cWoeh‡W Z[ [ijei fWb[dgk[i" ckY^Wi l[Y[i" ikf[hWd bei '&& ZŒbWh[i$ Iebe [d bW ]Wbb[hW ;b 8k_`e" Z[ IWc# XehedZŒd" bWi Y_\hWi bb[]Wd ^WijW bei c_b ZŒbWh[i$
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
ă
f[b[Wi Z[ bei ]Wbbei$ ;d ;b Ehe [n_ij[d '. ]Wbb[# hWi Z_ijh_Xk_ZWi [d jeZei bei '* YWdjed[i" i_[dZe [b 9eb_i[e ?d# j[hdWY_edWb Z[ =Wbbei ĂˆCWY^W# bWÉ [b bk]Wh c|i h[fh[i[djWj_le fWhW jeZei bei \Wd|j_Yei eh[d# i[i$ 7Z[c|i" i[ [ij_cW gk[ [d bW fhel_dY_W [n_ij[d kd jejWb Z[ .& Yh_WZ[hei Z[ ]Wbbei Z[ f[# b[Wi ZedZ[ [b Yeije Z[ Yh_WdpW Z[ kd iebe ]Wbbe [i Z[ .& ZÂŒbW# h[i c[dikWb[i o [b lWbeh Z[ kd Xk[d [`[cfbWh eiY_bW [djh[ bei (&& o ($&&& ZÂŒbWh[i$ 7^ehW c_ice" bei fh_dY_fWb[i Yh_WZeh[i Z[ ]Wbbei Z[ ;b Ehe o Z[b ;YkWZeh i[ fh[fWhWd fWhW kd dk[le jehd[e ]Wbb‡ij_Ye dWY_edWb" gk[ i[ Ykcfb_h| [d [b 9eb_i[e ?d# j[hdWY_edWb Z[ =Wbbei ĂˆCWY^WbWÉ" [b fhÂŒn_ce (. Z[ cWoe$
¥ ēŊ -Ŋ+ 2Ŋ 9.- 2Ŋ141 +#2Ŋ"#Ŋ +Ŋ 1.Ŋ #7(23#Ŋ, 8.1Ŋ!.-!#-Ĺ 31 !(¢-Ŋ"#Ŋ$ -;3(!.2Ŋ Ŋ + 2Ŋ/#+# 2Ŋ"#Ŋ+.2Ŋ% ++.2ĔŊ #2/#!( +,#-3#Ŋ#-Ŋ+ Ŋ 13#Ŋ +3 ĔŊ#-Ŋ .13.5#+.ĔŊ ( 2Ŋ 8Ŋ 14, ē
}
1( -9 ĹŠ8ĹŠ!4(" ".ĹŠ"#ĹŠ+.2ĹŠ% ++.2 @kb_e 9ƒiWh Lƒb[p" Wi[dj_ijW WZ# c_d_ijhWZeh Z[b Yeb_i[e Z[ =W# bbei ĂˆFehjel_[`eÉ i[ ceijhÂŒ cko fh[eYkfWZe feh bW fei_X_b_ZWZ Z[ ikif[dZ[h bWi Ăˆb_Z_WiÉ" feh i[h kdW jhWZ_Y_ÂŒd cko Wf[]WZW Wb fk[Xbe o feh bei W‹ei gk[ bb[lW ikc[h]_Ze [d [ijW WYj_l_ZWZ$ Lƒb[p W‹WZ[ gk[ bW Z_ifei_# Y_ÂŒd ^Wh‡W gk[ i[ f_[hZW ckY^e Z_d[he" [if[Y_Wbc[dj[ fWhW bei WĂ’Y_edWZei" gk_[d[i c|i Wbb| Z[ Z_l[hj_hi[ feh kdWi YkWdjWi ^ehWi" oW de j[dZh‡Wd bW efeh# jkd_ZWZ Z[ ^WY[h iki Wfk[ijWi o ]WdWhi[ Wb]‘d Z_d[he [njhW$ 9ec[djÂŒ WZ[c|i" gk[ [n_i# j[d f[hiedWi gk[ jWcX_ƒd l_l[d Z[ [ijW WYj_l_ZWZ" [if[Y_Wbc[dj[ Wgk[bbWi gk[ j_[d[d Yh_WZ[hei Z[ ]Wbbei" fk[i fWhW [bbe i[ d[Y[i_jW YedeY[h Z[ YWZW kdW Z[ bWi hWpWi Z[ [ijei Wd_cWb[i" ZWhb[i kdW Xk[dW Wb_c[djWY_ÂŒd" YkhWhbei o feh ikfk[ije j[d[hbei [d Yedi# jWdj[i fh|Yj_YWi Z[iZ[ f[gk[‹ei" fWhW gk[ YkWdZe i[Wd ]hWdZ[i oW fk[ZWd iWbjWh Wb Æhk[ZeÇ o feZ[h Ykcfb_h Yed [b eX`[j_le" [b YkWb [i l[dY[h W ik h_lWb$ ;d [i[ YWie" bWi l_jWc_dWi" jWXb[jWi o ejhei c[Z_YWc[djei fWhW [ijei Wd_cWb[i de Z[`Wd Z[ j[d[h kd Yeije Wfhen_cWZe Z[ '+" [nfb_YÂŒ Lƒb[p" gk_[d WZ[# c|i Z[ j[d[h iki fhef_ei ]Wbbei fWhW fWhj_Y_fWh [d bWi b_Z_Wi" jWcX_ƒd i[ ]WdW kdei ZÂŒbWh[i
c|i Yed [b YeXhe Z[ _d]h[ie Z[ bei Wi_ij[dj[i Wb Yeb_i[e gk[ [i Z[ ik fhef_[ZWZ$ 7]h[]ÂŒ gk[ bei Yeijei Z[ kd ]Wbbe" Z[f[dZ_[dZe Z[ ik eh_# ][d e hWpW" lWd Z[iZ[ bei )& ZÂŒbWh[i [d WZ[bWdj[" [if[Y_Wb# c[dj[ YkWdZe W‘d de j_[d[d Ykcfb_Ze [b W‹e$ ;d [b YWie Z[ bWi Wfk[ijWi gk[ i[ ^WY[d [d [b Yeb_i[e Z[ ]Wbbei ĂˆFehjel_[`eÉ" o ZedZ[ i[ h[Wb_pWd bWi b_Z_Wi bei Z‡Wi bkd[i o \_d[i Z[ i[cWdW" Wi‡ Yece jWcX_ƒd feh bWi Ă’[ijWi Z[ Fehjel_[`e '( Z[ cWhpe o feh bW ?dZ[f[dZ[dY_W Z[ bW YWf_jWb cWdWX_jW '. Z[ eYjkXh[ deh# cWbc[dj[ i[ fed[d [d `k[]e Wbh[Z[Zeh Z[ )&&" \k[hW Z[ bWi Wfk[ijWi gk[ ^WY[d feh Yk[djW fhef_W bei WĂ’Y_edWZei gk[ bb[# dWd YWZW i[cWdW [b [iY[dWh_e$ ÆF[i[ W jeZe [ije" i_ dei fh[# eYkfW gk[ dei gk_[j[d [ijW WYj_# l_ZWZ" Wkdgk[ j[d]e [dj[dZ_Ze gk[ bW fh[]kdjW [ij| Z_h_]_ZW ‘d_YWc[dj[ fWhW bWi Yehh_ZWi Z[ jehei" [d bWi YkWb[i [i bW f[hiedW gk[ i[ [dYWh]W Z[ ZWh ck[hj[ W kd Wd_cWb" f[he [d [b YWie Z[ dk[ijhW WYj_l_ZWZ bW f[b[W [i Z[ kd Wd_cWb YedjhW ejhe ]Wbbe li$ ]Wbbe " f[he Z[ _]kWb cWd[hW de feZ[cei YedĂ’Whdei" f[he c_[d# jhWi de j[d]Wcei fheXb[cWi i[]k_h[cei Yed [ijW deXb[ jhWZ_# Y_ÂŒd Z[ dk[ijhW j_[hhWÇ$
ƒ ą
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
Ćŋ &Ĺ‹Ä ĂżÄ„Ä€ÄżĹ‹ - / & -Ĺ‹ - . ( # -
.2Ŋ!.-Ą(!3.2Ŋ2#Ŋ #5("#-!( -Ŋ +Ŋ(-(!(.Ŋ "#+Ŋ  .Ŋ#2!.+ 1ēŊ Ŋ 1# +(" "Ŋ#2Ŋ2(,(+ 1Ŋ #-Ŋ .23 Ŋ8Ŋ (#11 ē
ēŊ -Ŋ+ Ŋ .23 Ŋ#7(23#-Ŋ/1. +#, 2Ŋ#-Ŋ+ 2Ŋ(-23 + !(.-#2ē
;d bW 9eijW ( c_bbed[i )'* c_b +/. [ijkZ_Wdj[i _d_Y_Whed YbWi[i ^WY[ Zei i[cWdWi f[he bei fheXb[cWi de WXWdZedWd bei fbWdj[b[i [ZkYW# j_lei$ :[ WYk[hZe W kd _d\ehc[ Z[ bW Kd_Œd DWY_edWb Z[ ;ZkYWZeh[i KD; [n_ij[ kdW ieXh[feXbWY_Œd [ijkZ_Wdj_b [d bWi [iYk[bWi o [b d‘# c[he Z[ cW[ijhei de ^W Wkc[djW# Ze$ Ejhe _dYedl[d_[dj[ [i" i[]‘d bei ZeY[dj[i" bW feYW _dl[hi_Œd [d _d\hW# [ijhkYjkhW o [b h[jhWie [d bW [djh[]W Z[ h[Ykhiei W bei [ijWXb[Y_c_[djei$ CWh_WdW FWbbWiYe" j_jkbWh Z[ bW KD;" _dZ_YŒ gk[ [d bei ‘bj_cei YkWjhe W‹ei [d ;ZkYWY_Œd =[d[hWb 8|i_YW Wkc[djWhed +&& c_b [ijk# Z_Wdj[i o gk[ iebe , c_b -&& ZeY[d# j[i Yed decXhWc_[djei ^Wd _d]h[# iWZe Wb i_ij[cW" c_[djhWi gk[ +&&
i[ [dYk[djhWd [d bW Wi_]dWY_ÂŒd Z[b _d_Y_e Z[ YbWi[i [b W‹e fWiWZe Z[ fWhj_ZWi$ Æ:[ WYk[hZe W bei [d bW I_[hhW" h[Wb_pÂŒ kdW [dYk[ijW [ij|dZWh[i Z[ YWb_ZWZ" Z[X[h‡W [d **( [iYk[bWi" /' [d bW pedW ^WX[h kd ZeY[dj[ feh YWZW (+ hkhWb o [b - [d bW pedW khXWdW$ e )& [ijkZ_Wdj[i" f[he [d dk[i# I[ Z[j[hc_dÂŒ gk[ j[njei" kd_\eh# jhWi [iYk[bWi ^Wo kd cW[ijhe c[i o YebWY_ÂŒd [iYebWh" Wi‡ Yece feh ,& d_‹ei" [ie i_]d_Ă’YW gk[ [b Xede cWjh‡YkbW Wikc_Ze feh [n_ij[ kd h[jheY[ie [d bW YWb_# [b =eX_[hde (+ o )& ZÂŒbWh[i de bb[]Wd W jeZWi bWi [iYk[bWi e be ZWZ [ZkYWj_lWÇ" Z[dkdY_ÂŒ$ BW _dl[hi_ÂŒd [d _d\hW[ijhkY# ^WY[d Yed h[jhWie" _dYbkie c[i[i jkhW" i[]‘d bW Z_h_][dj[ ]h[c_Wb" Z[ifkƒi Z[ _d_Y_WZWi bWi YbWi[i$ W‘d [i Z[\_Y_[dj[$ Æ;d [b fW‡i ;d bW i[hhWd‡W W‘d [n_ij[d [ijW# [n_ij[d (& c_b .+/ [ijW# Xb[Y_c_[djei gk[ de h[Y_# Xb[Y_c_[djei [ZkYWj_lei ĹŠ X[d [ijei h[Ykhiei$ f‘Xb_Yei o ‘d_YWc[dj[ i[ 7Z[c|i i[ [nfkie ^Wd _dj[hl[d_Ze + c_b .+" gk[ kdW Z[ Zei [iYk[bWi [i Z[Y_h '+ c_b --* _dij_jk# 23;ĹŠ/1#5(23 ĹŠ+ ĹŠ de Yk[djWd Yed WkbWi #-31#% ĹŠ#-ĹŠ+ ĹŠ Y_ed[i [ZkYWj_lWi de ied .23 ĹŠ"#ĹŠÄŽĹŠ,(++.Äą fWhW YWZW ]hWZe" kdW Z[ -#2ĹŠÄŠÄ?ÄˆĹŠ,(+ŊćććŊ Wj[dZ_ZWi" [ije i_]d_Ă’YW +( 1.2Ä”ĹŠÄŒÄŽÄ‡ĹŠ,(+ĹŠ YWZW YkWjhe de j_[d[ [i# gk[ [b -+$, Z[ bW _d\hW[i# Ä’Ä‘ÄŒĹŠ4-($.1,#2ĹŠ fWY_e h[Yh[Wj_le" Zei Z[ #2!.+ 1#2ĹŠ8ĹŠÄ‘Ä?ćŊ jhkYjkhW [iYebWh f‘Xb_YW ,(+ŊĉÄ?ÄŽĹŠ"#2 84Äą YWZW Y_dYe de j_[d[d XW# -.2ĹŠ#2!.+ 1#2Ä“ [ij| WXWdZedWZWÇ$ j[h‡Wi iWd_jWh_Wi" i_[j[ Z[ YWZW Z_[p de ^Wd h[Y_X_# FWbbWiYe c[dY_edÂŒ WZ[c|i gk[ ^W [n_ij_Ze _cfhe# Ze c[`ehWi [d _d\hW[ijhkYjkhW$ l_iWY_ÂŒd [d YkWdje W [ijhkYjk# hW" fehgk[ W f[iWh Z[ gk[ i[ #2/4#23 ĹŠ.ă!( + Wkc[djÂŒ eYjWle" del[de o Zƒ# =Wbe O[hel_" Z_h[Yjeh Z[ bW :_d# Y_ce W‹e [d lWh_Wi [iYk[bWi Z[ i[" _dZ_YÂŒ gk[ bWi c[`ehWi i‡ i[ bW 9eijW" bW :_h[YY_ÂŒd DWY_edWb ^Wd h[Wb_pWZe [d bei fbWdj[b[i Z[ Z[ I[hl_Y_ei ;ZkYWj_lei :_d# bW 9eijW Wdj[i Z[b _d_Y_e Z[b W‹e [iYebWh$ Æ;d ;ic[hWbZWi i[ ^Wd i[ de ^W Yedijhk_Ze WkbWi$ ;b _d\ehc[ Z[ bW KD; jWc# _dj[hl[d_Ze (' [ijWXb[Y_c_[d# X_ƒd Yk[ij_edÂŒ bW _dl[hi_ÂŒd [d jei" ,, [d CWdWX‡" (- [d IWdje bWi ;iYk[bWi Z[b C_b[d_e$ ÆFWhW :ec_d]e Z[ bei Ji|Y^_bWi" / [d deiejhei [ijWi _dij_jkY_ed[i IWdjW ;b[dW" [d =kWoWi '&&" Bei gk[ Yk[ijWd Y[hYW Z[ '". c_bbe# H‡ei *, o [d ;b Ehe ',Ç$ 7Z[c|i _dZ_YÂŒ gk[ i[ ^Wd d[i" YWZW kdW Wj_[dZ[d W Y[hYW + c_b [ijkZ_Wdj[i" YkWdZe [n_i# Yh[WZe Yeb[]_ei hƒfb_YW [d j[ ( c_bbed[i )'* c_b Wbkcdei" =kWoWgk_b o h[YWbYÂŒ gk[ i[ ^W [ijei Y[djhei ied kdW e\[diW _dl[hj_Ze kd c_bbÂŒd +&& c_b ZÂŒbWh[i [d WkbWi [c[h][dj[i$ fWhW bW feXh[pWÇ" _dZ_YÂŒ$ Æ;b fh[ikfk[ije Z[ bW :_di[ [d (&'& \k[ Z[ .' c_bbed[i Z[ ZÂŒ# -$.1,#ĹŠ .-31 3.ĹŠ .!( + BW eh]Wd_pWY_ÂŒd 9edjhWje IeY_Wb bWh[i" [d (&'' i[ _dl[hj_h| ''& feh bW ;ZkYWY_ÂŒd" W fhefÂŒi_je c_bbed[iÇ$
&Ĺ‹ *Ĺ‹ ),' Ĺ‹ .Z (# )-Ĺ‹ (Ĺ‹. ' -Ĺ‹ #'* ,' # #š( Bei [ijkZ_Wdj[i gk[ h[Y_X[d jWcX_ƒd bW YWfWY_jWY_ÂŒd [d pe# \ehcWY_ÂŒd [d [b I[hl_Y_e ;YkW# dWi hkhWb[i o Z[ Z_\‡Y_b WYY[ie jeh_Wde Z[ 9WfWY_jWY_ÂŒd Fhe# W jhWlƒi Z[ kdW kd_ZWZ cÂŒl_b \[i_edWb I[YWf YedjWh|d Yed [gk_fWZW Yed YecfkjWZeh kdW dk[lW cWj[h_W Z[djhe Z[ fehj|j_b" Z_ifei_j_le Z[ WYY[ie ik fƒdikc Z[ [ijkZ_e0 _cf[h# W bW h[Z beYWb" hekj[h l_Z[e fhe# c[WX_b_pWY_ÂŒd$ o[Yjeh o f_pWhhW Z_]_jWb$ ÆBW _Z[W [i gk[ bei [i# Bei fh_c[hei X[d[Ă’# jkZ_Wdj[i l_dYkbWZei Wb Y_WZei Yed [ijW kd_ZWZ i[Yjeh Z[ bW YedijhkYY_ÂŒd ĹŠ i[h|d bWi f[hiedWi Z[ o Yed YedeY_c_[djei 9eYW o BW]e 7]h_e$ I[# fh[l_ei ieXh[ bW _dijW# 1 ĹŠ, 8.1ĹŠ ]‘d =edpWbe 9ehZel[p" (-$.1, !(¢-ĹŠ bWY_ÂŒd Z[ fheZkYjei _c# 2. 1#ĹŠ!412.2ĹŠ"#+ĹŠ ][h[dj[ 9ec[hY_Wb Z[ 9^elW" bW _Z[W [i \eh# f[hc[WX_b_pWdj[i Yedep# #! /ĹŠ(-%1#2#ĹŠ ĹŠ 666Ä“2#! /Ä“%. Ä“ YWd ieXh[ iebkY_ed[i W #! cWh W fhe\[i_edWb[i gk[ fheXb[cWi Z[ ^kc[ZWZ Xkigk[d c[`ehWc_[dje [d [Z_Ă’YWY_ed[i" _dijWbW# [d iki ^WX_b_ZWZ[i$ ÆBW Y_ed[i Z[ fheZkYjei o i_ij[cW _cfb[c[djWY_ÂŒd Z[ [ijW cW# Z[ Yedjheb Z[ ^kc[ZWZ" _dijW# j[h_W j_[d[ Zei Ă’d[i0 WokZWh W bWY_ed[i Z[ _cf[hc[WX_b_pWd# bWi f[hiedWi gk[ oW j_[d[d ik j[i WYh‡b_YeiÇ" _dZ_YÂŒ @e^WdW fhe\[i_ÂŒd o Z[i[Wd Wcfb_Wh ik YedeY_c_[djei [d [ij[ YWcfe o PWfWjW" Z_h[YjehW Z[b I[YWf$ ;ij[ dk[le fheo[Yje" gk[ fWhW bWi ejhWi gk[ Z[i[Wd _d_# Yk[djW Yed bW fWhj_Y_fWY_ÂŒd Z[ Y_Wh ik fhef_e d[]eY_eÇ" c[d# bW [cfh[iW 9^elW" Yedj[cfbW Y_edÂŒ 9ehZel[p$
ŏāĈŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
Ć
Z[ @kij_Y_W Z[ Gk_je" o gk[ [b '( Z[ [d[he Z[ (&'' bW @k[pW I[]kd# ZW Z[ =WhWdj‡Wi F[dWb[i Z[ F_# Y^_dY^W Z[YbWhÂŒ WX_[hjW bW [jWfW Z[b fb[dWh_e [d YedjhW Z[ >[dho Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ? =_b 7o[hl[ feh Wi[i_dWje$ ;ijei `k[Y[i ieij_[d[d gk[ Z[iZ[ bW \[Y^W Z[ _d_Y_e Z[b Wkje YWX[pW Z[ fheY[ie ^WijW [b '( Z[ WXh_b Z[ (&'' ^W jhWdiYkhh_Ze kd bWfie gk[ [nY[Z[ bei '& W‹ei" gk[ [b Whj‡Ykbe '&' Z[b 9ÂŒZ_]e F[dWb [ijWXb[Y[ fWhW bW fh[iYh_fY_ÂŒd Z[ bW WYY_ÂŒd$ JWcX_ƒd i[ WcfWhWd [d bei Y[hj_\_YWZei Yed\[h_Zei feh bei `kp]WZei o jh_XkdWb[i Z[ ]WhWdj‡Wi f[dWb[i Z[ F_Y^_dY^W" c[Z_Wdj[ bei YkWb[i [b fheY[iWZe Z[ck[ijhW Bei @k[Y[i Z[b Jh_XkdWb Fh_c[he gk[ de ^W Yec[j_Ze ejhW _d\hWY# Z[ =WhWdj‡Wi F[dWb[i Z[ F_Y^_d# Y_ÂŒd feh bW YkWb i[ ^kX_[i[ _dj[# Y^W bb[]Whed W bW YedYbki_ÂŒd Z[ hhkcf_Ze bW fh[iYh_fY_ÂŒd$ JWcX_ƒd i[ [iYkZWd [d bW gk[ [b Y_kZWZWde YebecX_Wde >[dho =_b 7o[hl[" _cfkjWZe fh[iYh_fY_ÂŒd Z_YjWZW feh bW Fh[# Yece Wkjeh cWj[h_Wb Z[b Wi[# i_Z[dY_W Z[ bW 9ehj[ Fhel_dY_Wb Z[ @kij_Y_W Z[ F_Y^_dY^W" [b i_dWje Z[b [djedY[i Z_# ) Z[ i[fj_[cXh[ Z[ (&&/" fkjWZe Z[b Cel_c_[dje ĹŠ W \Wleh Z[ bei Ye#WYkiWZei FefkbWh :[ceYh|j_Ye [d [ijW YWkiW0 <WX_|d Z[ bW CF: @W_c[ >khjWZe o 1#1.ĹŠ iki YebWXehWZeh[i 9Whbei +ĹŠÄˆÄ?ĹŠ"#ĹŠ$# "#ĹŠÄˆÄ’Ä’Ä’Ä”ĹŠ#+ĹŠ"(/4Äą IWbW 8hemd" ;Z_ied =W# bbWhZe 8[ZÂŒd" 8ohed L_j[h_ JWf_W o M[bb_d]jed 8eh`W 3 ".ĹŠ (,#ĹŠ de j_[d[ ejhei fheY[iei 413 ".ĹŠ$4#-ĹŠ 2#2(- ".ĹŠ ĹŠ3(1.2ĹŠ ;ijƒl[p o FWXbe 7]k_hh[ f[dWb[i [d ik YedjhW o feh #-ĹŠ+ 2ĹŠ(-,#"( Äą Ck‹ep$ !(.-#2ĹŠ"#+ĹŠ 7Z_Y_edWbc[dj[" bei jWdje fheY[Z[ bW f[j_Y_ÂŒd .-%1#2.ĹŠ8ĹŠ ĹŠ /.!.2ĹŠ/ 2.2ĹŠ"#ĹŠ `k[Y[i ehZ[dWhed bW Z[ fh[iYh_fY_ÂŒd Z[b `k_Y_e .13#ĹŠ 4/1#, ĹŠ YWdY[bWY_ÂŒd Z[ jeZWi fh_dY_fWb$ "#ĹŠ 423(!( Ä“ bWi c[Z_ZWi YWkj[bWh[i C_bjed =WhY‡W" =k_# h[Wb[i o f[hiedWb[i" `k# bb[hce :kh|d o 9Whbei 9WbW^ehhWde `kij_Ă’YWd bW fh[i# h‡Z_YWc[dj[ Yedij_jk_ZWi [d Yh_fY_ÂŒd" WZkY_[dZe gk[ [d [b [ij[ fheY[ie YedjhW >[dho =_b [nf[Z_[dj[ Z[b `k_Y_e i[ fk[Z[ 7o[hl[" o gk[ i[ [c_jW bW Xe# Wfh[Y_Wh gk[ [b Wkje YWX[pW Z[ b[jW Z[ [nYWhY[bWY_ÂŒd$ BW Z[Y_i_ÂŒd Z[ bei jh[i `k[Y[i fheY[ie i[ Z_YjÂŒ o dej_Ă’YÂŒ [b Z‡W '* Z[ WXh_b Z[ '///" feh fWhj[ Z[b ikX_ÂŒ [d YedikbjW W bW 9ehj[ Ik# Fh[i_Z[dj[ Z[ bW 9ehj[ Ikf[h_eh f[h_eh Z[ F_Y^_dY^W$
ć
/-.#ð (ŋ #)( ,ŋ (ŋ &ŋ -)ŋ /,. )
/' (. ŋ, !#-.,)ŋ ŋ &#.)-ŋ (ŋ &ŋ* v ēŊ 1, 2Ŋ"#!.,(2 " 2Ŋ/.1Ŋ+ Ŋ .+(!~ Ŋ#-Ŋ 4(3.ēŊ .3.Ŋ"#Ŋ 1!'(5.ēŊ
(2! +~ Ŋ 2#%41 Ŋ 04#Ŋ2#Ŋ"# #Ŋ Ŋ+ Ŋ "#2!.-!#-31 !(¢-Ŋ "#Ŋ2#15(!(.2Ŋ"#Ŋ+ Ŋ #-3(" "ēŊ
BW Z[iYedY[djhWY_ÂŒd Z[ bei i[hl_Y_ei Z[ bW <_iYWb‡W =[# d[hWb Z[b ;ijWZe [d bWi Y_k# ZWZ[i Yed cWoeh d‘c[he Z[ ^WX_jWdj[i [ _dY_Z[dY_W Z[b_Y# j_lW" Yece =kWoWgk_b" Gk_je o 9k[dYW" _dYh[c[djÂŒ [d kd +* bWi dej_Y_Wi Z[ Z[b_je W d_l[b dWY_edWb" [djh[ [d[he Z[ (&'& o [d[he Z[ (&''$ I[]‘d bW :_h[YY_ÂŒd DWY_e# dWb Z[ 7YjkWY_ÂŒd o =[ij_ÂŒd FheY[iWb Z[ bW <_iYWb‡W" gk[ ^_pe f‘Xb_Ye kd [ijkZ_e fh[b_# c_dWh YecfWhWj_le Z[ bW fhe# ZkYj_l_ZWZ _dij_jkY_edWb" i[ Z_e Yk[djW gk[ [b _dYh[c[dje Z[ -$,*) dej_Y_Wi Z[ Z[b_je [d [d[he Z[ (&''" [d h[bWY_ÂŒd W [d[he Z[ (&'&" de Yehh[ifed# Z[ W cWoeh Yh_c_dWb_ZWZ" i_de W bW feb‡j_YW `kZ_Y_Wb Z[ bW <_i# YWb‡W Z[ WY[hYWh iki i[hl_Y_ei$ ;b _dYh[c[dje Z[ dej_Y_Wi Z[ Z[b_je jWcX_ƒd eX[Z[Y[ W bW Wcfb_WY_ÂŒd Z[ bW YeX[h# jkhW W YWdjed[i [d fhel_d# Y_Wi gk[ Wdj[i ‘d_YWc[dj[ YedjWXWd Yed <_iYWb‡W [d bW YWX[Y[hW fhel_dY_Wb" Yece 9ejefWn_" Jkd]khW^kW" 7pkWo" =kWoWi" CWdWX‡" ;b Ehe" IWdjW ;b[dW" Be`W$ ēŊ , %#-ĹŠ"#ĹŠ4-.ĹŠ"#ĹŠ+.2ĹŠ !3.2ĹŠ"#ĹŠ31( 43.ĹŠ +ĹŠ+~"#1ĹŠ"#+ĹŠ ĔŊ#-ĹŠ24ĹŠ,.-4Äą ,#-3.ĹŠ#-ĹŠ 4(3.ēŊ
2ĹŠ!($1 2ĹŠ
;djh[ bei h[ikbjWZei Z[ bei
1.!#2.2ĹŠ)4"(!( +#2 3.2ĹŠ
-" % !(¢-Ŋ 1#5( Ŋ
#-#1.ÄąÄˆÄ‡ĹŠ
#-#1.ÄąÄˆÄˆĹŠ
1( !(¢-
-2314!!(¢-Ŋ (2! +Ŋ
#-#1.ÄąÄˆÄ‡ĹŠ
#-#1.ÄąÄˆÄˆĹŠĹŠ
1( !(¢-
ĹŠ (!3 ,#-ĹŠ
#-#1.ÄąÄˆÄ‡ĹŠ
#-#1.ÄąÄˆÄˆĹŠ
1( !(¢-
#- +ĹŠ 1;-2(3.ĹŠ ".+#2!#-3#2ĹŠ ĹŠ ĹŠ
#- ĹŠ 1;-2(3.ĹŠ ".+#2!#-3#2ĹŠ ĹŠ
!42 3.1(.ĹŠ 23#-3(5.ĹŠĹŠ (73.ĹŠ ĹŠ
Ä’Ä’Ä’ÄŒĹŠ ĉÄ?ÄŽÄŽĹŠ ÄˆÄ‘Ä‘ĹŠĹŠ ĈĉđĊÄ?ĹŠ
ÄˆÄ‰ÄŒÄ‘ĹŠ ČćÄ?ĹŠ ĈÄ?ÄŽĹŠ ÄˆÄ‘Ä‰Ä’ĹŠ
Ä‘Ä?Ä?ĹŠ ÄŠÄŠÄŒĹŠĹŠ Ä?ÄŠĹŠ ĈĉÄ?ÄŒĹŠ
YWcX_ei _djheZkY_Zei i[ Z[ijW# YW bW h[ZkYY_ÂŒd Z[ bW Z_\[h[dY_W [djh[ bW Yh_c_dWb_ZWZ h[Wb Ye# c[j_ZW o bW Yh_c_dWb_ZWZ WfW# h[dj[ Z[dkdY_WZW " gk[ i[]‘d bW fh_c[hW [dYk[ijW Z[ l_Yj_c_# pWY_ÂŒd h[Wb_pWZW [d ;YkWZeh [d (&&." [d () fhel_dY_Wi Z[b fW‡i W .$*/, ^e]Wh[i" YedYbko[ gk[ +))$'., f[hiedWi \k[hed l‡Yj_# cWi Z[ heXe Yed \k[hpW" heXe i_d \k[hpW" WjWgk[i o Wc[dW# pWi" o (*.$+&* ^e]Wh[i \k[hed l‡Yj_cWi Z[ heXei W l_l_[dZWi o heXe Z[ l[^‡Ykbei" [i Z[Y_h ^kXe -.'$,/& [l[djei Z[b_Y# j_lei" be gk[ i_]d_Ă’YW gk[ ' Z[ YWZW * Z[b_jei bb[]Whed W Yede# Y_c_[dje Z[ bWi Wkjeh_ZWZ[i$ ;b [ijkZ_e jWcX_ƒd ZW Yk[djW gk[ Z[ cWdj[d[hi[ bW \h[Yk[dY_W Z[ Z[dkdY_Wi [d (&''" i[]‘d [b ZWje Z[ [d[he" bW <_iYWb‡W Z[X[h|
ÄˆÄŽÄ‘Ä‰Ä’ĹŠ ÄŠÄŒÄ‡ÄŒĹŠ ÄŠÄˆÄˆĹŠ ÄˆÄ’ÄŽÄŒÄŒĹŠ
ÄˆÄŒÄ‘Ä‰ĹŠ Ä?ĊćŊ ĉĉćŊ ĉĊĊĉŊ
ĈÄ?đĎŊ ÄŽÄˆÄŠĹŠ Ä’ÄŽĹŠ ĉĉĒĊŊ
ĎđĊĎ Ä?ČĒ ĈĉĊ Ä?Ä?ćÄ?
ĉĊČ ĉĉČ ČĎ ĎćĊ
đĈđ ĈÄ?Ä’ ĉĉ ĈćĈĒ
Wj[dZ[h (-'$*', dej_Y_Wi Z[ Z[b_# jei" be gk[ eXb_]Wh| W WZefjWh fe# b‡j_YWi gk[ ][ij_ed[d [ijei Yed# Ă“_Yjei Z[ cWd[hW efehjkdW Wdj[i o Z[ifkƒi Z[ bW _d\hWYY_ÂŒd$ ;d cWj[h_W f[dWb" bWi dej_# Y_Wi Z[ Z[b_je bb[]Whed W '($&&. [d (&'& o W '.$+'. [d [d[he Z[ (&''" be gk[ i_]d_Ă’YW kdW lW# h_WY_ÂŒd WXiebkjW Z[ ,$+'& YWiei +*$(' 1 [d cWj[h_W Z[ jh|di_# je" i[ h[]_ijhWhed ($++. dej_Y_Wi [d (&'& o )$,++ [d (&''" gk[ h[fh[i[djW kdW lWh_WY_ÂŒd WX# iebkjW Z[ '$&/- *($./ 1 o [d WZeb[iY[dj[i _d\hWYjeh[i" *&/ YWiei [d (&'& o **+ [d (&''$ JeZe [ije ZW kd jejWb Z[ '*$/-+ dej_Y_Wi Z[ Z[b_jei h[]_ijhW# ZWi [d [d[he Z[ (&'& o (($,'. [d [d[he Z[ (&''" Yed kdW lW# h_WY_ÂŒd WXiebkjW Z[ -$-*)" gk[ i_]d_\_YW kd _dYh[c[dje Z[b
4( ,ąŋĒ '#!)ēŋ ŋ ð
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
Ĉ
+Ŋ#7/1#2("#-3#Ŋ#2/  .+Ŋ' Ŋ2.1/1#-Ĺ "(".Ŋ +Ŋ!1(3(! 1Ŋ Ŋ+.2Ŋ/ ~2#2Ŋ04#Ŋ 3 Ĺ ! -Ŋ +Ŋ+~"#1Ŋ+( (.ē ¥ Ŋ ĔŊ ŊŊěŊŊ
;b [n fh[i_Z[dj[ Z[b =eX_[hde [ifW‹eb @eiƒ CWh‡W 7pdWh ^W Yh_j_YWZe W ;ijWZei Kd_Zei o Wb]kdei fW‡i[i [khef[ei feh bWdpWh kd WjWgk[ c_b_jWh Yed# jhW [b hƒ]_c[d Z[ CkWcWh Wb =WZWĂ’" W f[iWh Z[ gk[ [b b‡Z[h b_X_e i[ ^WX‡W Yedl[hj_Ze Z[i# Z[ ^WY[ eY^e W‹ei [d ÆWc_]eÇ Z[ EYY_Z[dj[$ 7pdWh i[ gk[`ÂŒ WZ[c|i Z[ gk[ [ijei fW‡i[i de WYj‘Wd Z[ bW c_icW \ehcW YedjhW bei h[# ]‡c[d[i Z[ ?h|d e I_h_W$ ;d kdW Yed\[h[dY_W fhe# dkdY_WZW [d bW Kd_l[hi_ZWZ Z[ 9ebkcX_W" [d Dk[lW Oeha" 7pdWh jWcX_ƒd bWc[djÂŒ gk[ EYY_Z[dj[ ^kX_[hW ZWZe bW [i# fWbZW W bei W^ehW [nfh[i_Z[d# j[i Z[ ;]_fje" >eid_ CkXW# hWa" o Z[ J‘d[p" 7X_Z‡d 8[d 7b‡" Yedi_Z[hWZei [d [b fWiWZe ÆWc_]eiÇ Z[ EYY_Z[dj[$ 7b Yedj[ijWh W kdW fh[]kd# jW ieXh[ bW i_jkWY_ÂŒd [d Eh_[d# j[ C[Z_e" 7pdWh W]h[]ÂŒ gk[ Æbei cWd_\[ijWdj[i [d I_h_W [ ?h|d Wf[bWhed W EYY_Z[dj[ fWhW gk[ b[i WfeoWhW" f[he [ij[ fW‡i ;;$KK $ o bei fW‡i[i [khef[ei de ^_Y_[hed dWZWÇ$ Æ;i cko Z_\‡Y_b [dj[dZ[h kdW feb‡j_YW gk[ Z[`W gk[ bei Wc_]ei YW_]Wd o gk[ bei [d[# c_]ei f[hcWd[pYWd [d [b fe# Z[hÇ" WĂ’hcÂŒ [d bW Yed\[h[d# Y_W" fhedkdY_WZW [d _d]bƒi" [b bkd[i fWiWZe" o Yeb]WZW [d [b i_j_e m[X Z[ bW kd_l[hi_ZWZ [ijWZekd_Z[di[$
Ze [b j[hheh_ice o Æ[hW kd Z[# iWijh[Ç" f[he [i[ W‹e" Wdj[ bW _dlWi_ÂŒd Z[ ?hWa" Æi[ fkie W f[diWh0 ĂˆI_ ^Wo YWcX_e Z[ hƒ# ]_c[d [d ?hWa" W be c[`eh ^W# Xh| YWcX_e Z[ hƒ]_c[d Wgk‡" be gk[ gk_[h[ Z[Y_h gk[ c[ YWcX_Wh|d W c‡ feh ejhe É"Ç o h[Yj_Ă’YÂŒ ik feb‡j_YW$ 7 fWhj_h Z[ (&&)" h[bWjÂŒ 7p# dWh" =WZWĂ’ ^W WfeoWZe Æbei [i# \k[hpei Z[ EYY_Z[dj[ YedjhW [b j[hheh_iceÇ o ^W h[dkdY_WZe W iki fhe]hWcWi Z[ WhcWc[dje X_ebÂŒ]_Ye" gk‡c_Ye o dkYb[Wh$ =WZW\_ i_]k[ i_[dZe Ækd ^ecXh[ [njhWlW]Wdj[" kd ^ec# Xh[ hWheÇ" h[YedeY_ÂŒ 7pdWh" i_d [cXWh]e" Wkdgk[ i[W Ækd Wc_# ]e [njhWlW]Wdj[" [i kd Wc_]eÇ$ ;b [n`[\[ Z[ ]eX_[hde Z[ ;ifW‹W bWc[djÂŒ bW _dYe^[# h[dY_W Z[ bW WYjkWb feb‡j_YW Z[ ;ijWZei Kd_Zei Z[ Æh[ifWbZWh W bei h[X[bZ[i b_X_ei i_d i_# gk_[hW iWX[h gk_ƒd[i ied bei h[X[bZ[iÇ$
} ēŊ .2_Ŋ 1~ Ŋ 9- 1Ŋ' Ŋ2(".Ŋ!1(3(! ".Ŋ/.1Ŋ"($#1#-3#2Ŋ2#!3.1#2Ŋ#-Ŋ24Ŋ/ ~2ē
(-(231 ĹŠ2#ĹŠ2.1/1#-"#
BW c_d_ijhW [ifW‹ebW Z[ 7ikdjei ;nj[h_eh[i" Jh_d_# ZWZ @_cƒd[p" YWb_Ă’YÂŒ Wo[h Z[ Æiehfh[dZ[dj[Ç bW Yh_j_YW Z[b [nfh[i_Z[dj[ Z[b =eX_[hde Z[ ;ifW‹W @eiƒ CWh‡W 7pdWh Wb WjWgk[ c_b_jWh YedjhW [b hƒ]_# c[d Z[ =WZWĂ’" Wb Yedi_Z[hWh gk[ i[ gk[ZW Æ\k[hWÇ Z[b Yed# i[die _dj[hdWY_edWb$ @_cƒd[p Wi[]khÂŒ gk[ Æh[# ikbjW iehfh[dZ[dj[ gk[ 7pdWh i[ gk[Z[ \k[hW de iebWc[dj[ Z[b Yedi[die _dj[hdWY_edWb" i_de gk[ i[ Z_ijWdY_W Z[ kdW ÄĽ -ĹŠ'., 1#ĹŠ#731 5 % -3#ÄŚ 7pdWh h[YehZÂŒ gk[ Wdj[i Z[Y_i_ÂŒd gk[ j_[d[ gk[ l[h Yed Z[ (&&) =WZWĂ’ ^WX‡W WfeoW# kdW ][ij_ÂŒd ^kcWd_jWh_WÇ$
ÄŠÄ“Ä?Ä?ćŊ./#1 !(.-#2ĹŠ,(+(3 1#2 Ĺ—ĹŠĹŠ ĹŠ ĹŠ(-$.1,¢Ŋ 8#1ĹŠ"#ĹŠ04#ĹŠ8 ĹŠ' ĹŠ++#5 ".ĹŠ ĹŠ! .ĹŠ4-ĹŠ3.3 +ĹŠ"#ĹŠÄŠÄ“Ä?Ä?ćŊ ./#1 !(.-#2ĹŠ,(+(3 1#2ĹŠ _1# 2ĹŠ"#2"#ĹŠ04#ĹŠ3.,¢Ŋ#+ĹŠ, -".ĹŠ"#ĹŠ+ ĹŠ./#1 !(¢-ĹŠ
(-3#1- !(.- +ĹŠ#-ĹŠ ( ( ĔŊ#+ĹŠ/ 2 ".ĹŠÄŠÄˆĹŠ"#ĹŠ, 19.ĔŊ/ 1 ĹŠ% 1 -3(9 1ĹŠ4- ĹŠ9.- ĹŠ"#ĹŠ #7!+42(¢-ĹŠ _1# ĹŠ8ĹŠ+ ĹŠ/1.3#!!(¢-ĹŠ"#ĹŠ+.2ĹŠ!(5(+#2ĹŠ"#ĹŠ#2#ĹŠ/ ~2Ä“ ĹŠ ĹŠ +( -9 ĹŠ 3+;-3(! ĹŠ"#23 !¢Ŋ#-ĹŠ4-ĹŠ!.,4-(! ".ĹŠ"($4-"(".ĹŠ 8#1ĹŠ04#ĔŊ ĹŠ $#!' ĹŠ"#+ĹŠ5(#1-#2ĔŊ' ĹŠ1# +(9 ".ŊĉēĎđĊŊ,(2(.-#2ĹŠ"#ĹŠ!., 3#ĹŠ _1# 2ĹŠ8ĹŠ.31 2ĹŠ ĈēćđÄ?ĹŠ./#1 !(.-#2ĹŠ"#"(! " 2ĹŠ ĹŠ("#-3(ă! 1ĹŠ. )#3(5.2ĔŊ04#ĹŠ-.ĹŠ(,/+(! 1.-ĹŠ -#!#2 1( ,#-3#ĹŠ#+ĹŠ42.ĹŠ"#ĹŠ 1, ,#-3.ĔŊ"#3 ++¢ē
ĔŊ š Kd dk[le j[hh[ceje
Z[ +"/ ]hWZei [d bW [iYWbW WX_[hjW Z[ H_Y^j[h iWYkZ_Œ Wo[h bW h[]_Œd Z[ AWdje Y[djhe Z[ @WfŒd o \k[ i[dj_Ze Yed YbWh_ZWZ [d Jea_e" i_ X_[d de \k[ d[Y[iWh_e [c_j_h kdW Wb[hjW Z[ jikdWc_$ I[]‘d _d\ehcŒ bW 7][d# Y_W C[j[ehebŒ]_YW Z[ @WfŒd" [b j[cXbeh eYkhh_Œ W bWi ''$'/ ^ehW beYWb ($'/ =CJ [d bW fhel_dY_W Z[ JeY^_]_" Wb dehj[
Z[ bW YWf_jWb" o ik [f_Y[djhe i[ beYWb_pŒ W -& a_bŒc[jhei XW`e j_[hhW" feh be gk[ ^kXe Wl_ie Z[ jikdWc_$ ;d lWh_Wi beYWb_ZWZ[i Z[ bWi fhel_dY_Wi Z[ ?XWhWa_" JeY^_]_ o IW_jWcW" Y[hYWdWi W Jea_e" [b i[‡ice \k[ i[dj_Ze [d ]hWZe + Z[ bW [iYWbW `Wfed[iW Y[hhWZW Z[ -" gk[ i[ Y[djhW [d [b WbYWd# Y[ c|i gk[ [d bW _dj[di_ZWZ Z[b j[cXbeh$
(Ĺ‹(/ 0)Ĺ‹. ,, ').)Ĺ‹ Ĺ‹ ĂżÄ…ÄƒĹ‹!, )-Ĺ‹- / Ĺ‹ )%#)
ĉ
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
/ Ćŋ #)ŋ-#!&)ŋ ŋ-) # &#-')ŋ +Ŋ!¢-!+ 5#Ŋ"#+Ŋ 13(".Ŋ .,4-(23 Ŋ(-(Ĺ !(¢Ŋ#-Ŋ Ŋ - Ŋ8Ŋ!.-!+4(1;Ŋ#+Ŋ, 13#2ē +Ŋ/4# +.Ŋ#23;Ŋ++#-.Ŋ"#Ŋ"4" 2ēŊ
ĹŠ ĔŊ ĔŊ š 9kXW [nWbjÂŒ
} ēŊ 2ĹŠ4-(" "#2ĹŠ,(+(3 1#2ĹŠ"#ĹŠ+ 2ĹŠ31#2ĹŠ1 , 2ĹŠ"#ĹŠ+ 2ĹŠ 4#19 2ĹŠ 1, " 2ĹŠ "#2ă+ 1.-ĹŠ 8#1ĹŠ#-ĹŠ ĹŠ - Ä“
2!#/3(!(2,.ĹŠ#-ĹŠ+ ĹŠ/. + !(¢ŗŊŊ +ĹŠÄ?Ä?Ĺ˜ĹŠ"#ĹŠ+.2ĹŠ!4 -.2ĹŠ!1##ĹŠ04#ĹŠ#+ĹŠ . (#1-.ĹŠ"#ĹŠ ĂŒ+ĹŠ 231.ĹŠ-.ĹŠ/."1;ĹŠ1#2.+5#1ĹŠ ĹŠ!.13.ĹŠ/+ 9.ĹŠ+.2ĹŠ/1. +#, 2ĹŠ#!.-¢,(!.2ĔŊ!.,.ĹŠ+.2ĹŠ ).2ĹŠ2 + 1(.2ĹŠ8ĹŠ+.2ĹŠ +3.2ĹŠ
/1#!(.2ĔŊ ĹŠ/#2 1ĹŠ"#ĹŠ+ 2ĹŠ(-_"(3 2ĹŠ1#$.1, 2ĹŠ04#ĹŠ2#ĹŠ#23;-ĹŠ/.-(#-".ĹŠ#-ĹŠ, 1!' ĹŠ/ 1 ĹŠ / +( 1ĹŠ+.2ĹŠ#$#!3.2ĹŠ"#ĹŠ+ ĹŠ!1(2(2ĹŠ(-3#1- !(.- +ĔŊ1#5#+ ĹŠ4-ĹŠ2.-"#.ĹŠ1# +(9 ".ĹŠ/.1ĹŠ#+ĹŠ -23(Äą 343.ĹŠ #/4 +(! -.ĹŠ -3#1- !(.- +Ŋĸ ĚĔŊ!.-ĹŠ2#"#ĹŠ#-ĹŠ 23 ".2ĹŠ -(".2Ä“ +ĹŠÄŠÄŠÄ”ÄŠĹ˜ĹŠ"#ĹŠ+.2ĹŠ!4 -.2ĹŠ./(- ĹŠ04#ĹŠ+ 2ĹŠ!.2 2ĹŠ#-ĹŠ+ ĹŠ(2+ ĹŠ#23;-ĹŠÄĽ, +ČĔŊ#+ĹŠÄˆÄ‰Ä”ÄˆĹ˜ĹŠ 04#ĹŠ#23;-ĹŠÄĄ,48ĹŠ, +ĢŊ8ĹŠ#+ĹŠÄŠÄŽĹ˜ĹŠ!1##ĹŠ04#ĹŠÄĄ,;2ĹŠ.ĹŠ,#-.2ĢēŊ /#- 2ĹŠ#+ĹŠÄ‰Ä”Ä‰Ĺ˜ĹŠ"#ĹŠ+.2ĹŠ #-31#5(23 ".2ĹŠ/(#-2 ĹŠ04#ĹŠ+ 2ĹŠ!.2 2ĹŠ#23;-ĹŠÄĄ,48ĹŠ (#-Ģē ĹŠ/#2 1ĹŠ"#+ĹŠ$_11#.ĹŠ!.-31.+ĹŠ04#ĹŠ#)#1!#ĹŠ#+ĹŠ1_%(,#-ĹŠ! 231(23 ĹŠ#-ĹŠ 24-3.2ĹŠ!.,.ĹŠ + ĹŠ/.+~3(! ĹŠ8ĹŠ+ ĹŠ+( #13 "ĹŠ"#ĹŠ#7/1#2(¢-ĔŊ#+ĹŠÄ?ćĔÄ?Ĺ˜ĹŠ"#ĹŠ+.2ĹŠ!4 -.2ĹŠ!1##ĹŠ04#ĹŠÄĄ#+ĹŠ, 8.1ĹŠ /1. +#, ĢŊ#-ĹŠ+ ĹŠ(2+ ĹŠ2.-ĹŠ+.2ĹŠ ).2ĹŠ2 + 1(.2ĹŠ8ĹŠ#+ĹŠ +3.ĹŠ!.23#ĹŠ"#ĹŠ+ ĹŠ5(" ēŊ +ĹŠÄˆÄ‰Ä”Ä?Ĺ˜ĹŠ./(- ĹŠ 04#ĹŠ#2ĹŠ+ ĹŠ#2! 2#9ĹŠ"#ĹŠ +(,#-3.2ēŊ
WYjei f‘Xb_Yei jhWi Z[YbWhWhi[ Wo[h iki +& W‹ei Z[ ieY_Wb_ice o h[Ykf[hWZe Z[ ik Zeb[dY_W$ bW l_Yjeh_W Z[ FbWoW =_hÂŒd 8W^‡W I_d [cXWh]e" [b [nfh[i_Z[dj[ Z[ 9eY^_dei Yed kd ckbj_jkZ_# [ijkle cko fh[i[dj[ W be bWh]e dWh_e Z[iĂ’b[ c_b_jWh o fefkbWh Y[# Z[ jeZe [b Z[iĂ’b[ feh bei Yedj_# b[XhWZe [d BW >WXWdW" fh[l_e W bW dkei Æl_lWiÇ o h[\[h[dY_Wi gk[ b[ _dWk]khWY_ÂŒd Z[b L? 9ed]h[ie Z[b Z[Z_YWhed bei fWhj_Y_fWdj[i [d FWhj_Ze 9eckd_ijW F99 $ bW cWhY^W fefkbWh" ckY^ei Z[ ;b cWdZWjWh_e YkXWde" [b ][# [bbei fehjWdZe _c|][d[i o \hW# d[hWb HW‘b 9Wijhe" fh[i_Z_ÂŒ [b Z[i# i[i Z[b b‡Z[h Z[ bW H[lebkY_ÂŒd$ Ă’b[ Z[iZ[ bW jh_XkdW Z[ bW FbWpW Z[ ;b Z[ Wo[h \k[ kd Z[iĂ’b[ fWhW bW H[lebkY_ÂŒd l[ij_Ze Yed kd_\eh# Yedc[cehWh [b +& Wd_l[hiWh_e c[ c_b_jWh o WYecfW‹WZe feh bWi Z[ bW fheYbWcWY_ÂŒd Z[b YWh|Yj[h fh_dY_fWb[i Wkjeh_ZWZ[i Z[ bW _ibW" ieY_Wb_ijW Z[ bW H[lebkY_ÂŒd o bW Wi‡ Yece Z[ bei Z[b[]WZei gk[ l_Yjeh_W Z[ FbWoW =_hÂŒd" [d [b fWhj_Y_fWd Z[iZ[ Wo[h jWhZ[ [d [b gk[ [b fhejW]ed_ice h[YWoÂŒ ie# YÂŒdYbWl[ Yeckd_ijW$ Xh[ bW `kl[djkZ YkXWdW$ >Wo [nf[YjWj_lW Wdj[ [b Z[XW# j[ Z[b ĂˆFheo[Yje Z[ B_d[Wc_[djei 13(!(/ !(¢-ĹŠ/./4+ 1 Z[ bW Feb‡j_YW ;YedÂŒc_YW o Ie# 8W`e bW [ijWjkW Z[ @eiƒ CWhj‡" Y_Wb Z[b FWhj_Ze o bW H[lebkY_ÂŒdÉ bWi [Ă’]_[i Z[b Ăˆ9^[É =k[lWhW o o bW [b[YY_ÂŒd Z[ bei ĂˆÂŒh]Wdei Z_h_# 9Wc_be 9_[d\k[]ei o kdW ]hWd ][dj[iÉ Z[b FWhj_Ze$ ;b fhe]hWcW \eje]hW\‡W Z[ <_Z[b 9Wijhe Z[ bW Z[ kdWi )&& c[Z_ZWi fh[lƒ Wc# ƒfeYW Z[ bW XWjWbbW Z[ =_hÂŒd" [b fb_Wh [b i[Yjeh fh_lWZe" h[ZkY_h Z[iĂ’b[ i[ WXh_ÂŒ Yed kd Æh[Ye# bW ]_]Wdj[iYW XkheYhWY_W Yed [b hh_ZeÇ feh bWi ][ijWi c_b_jWh[i h[Yehj[ Z[ c|i Z[ kd c_bbÂŒd Z[ Z[ 9kXW gk[ Yec[dpÂŒ Yed kdW [cfb[ei" [b_c_dWh ikXi_Z_ei o YWXWb]WjW ĂˆcWcX_iWÉ Yed '(. `_# fed[h _cfk[ijei" Z[iY[djhWb_pWh d[j[i$ bW W]h_YkbjkhW" ZWh Wkjedec‡W W 7 Yedj_dkWY_ÂŒd" kdW hƒfb_YW bWi [cfh[iWi o WjhW[h YWf_jWb [n# W jWcW‹e dWjkhWb Z[b Ăˆ=hWdcWÉ" jhWd`[he$ [b oWj[ Yed [b gk[ <_Z[b 9Wijhe o Gk_[d de Wi_ij_ÂŒ \k[ <_Z[b iki ^ecXh[i Whh_XWhed W bW _ibW 9Wijhe" WfWhjWZe Z[b feZ[h Z[i# [d '/+," WfWh[Y_ÂŒ \bWdgk[WZe Z[ (&&, feh kdW ]hWl[ [d\[h# feh )$&&& d_‹ei W]_jWdZe iki c[ZWZ" Wkdgk[ Z[iZ[ [b W‹e fW# fW‹eb[jWi Wpkb[i fWhW h[fh[i[d# iWZe ^W fWhj_Y_fWZe [d Wb]kdei jWh [b cel_c_[dje Z[b cWh$
.1ĹŠ,#).1#2ĹŠ 2 + 1(.2ĹŠ Ĺ—ĹŠĹŠ
-31#ĹŠ#2/#1 -9 ".2ĹŠ8ĹŠ /;3(!.2ĔŊ +.2ĹŠ!4 -.2ĹŠ/("#-ĹŠ,#).1#2ĹŠ2 + 1(.2ĹŠ ĸ/1.,#"(.ĹŠ"#ĹŠÄˆÄ?ĹŠ"¢+ 1#2ĚĔŊ04#ĹŠ2#ĹŠ +#5 -3#ĹŠ+ ĹŠ/1.'( (!(¢-ĹŠ +ĹŠ!.,#1!(.ĹŠ "#ĹŠ! 2 2ĹŠ8ĹŠ 43.2ĔŊ8ĹŠ2#ĹŠ#+(,(-#ĹŠ+ ĹŠ ". +#ĹŠ,.-#" ĔŊ/4#2ĹŠ 4-04#ĹŠ3(#-#-ĹŠ 2#15(!(.2ĹŠ24 2("( ".2ĹŠ.ĹŠ%1 3(2ĔŊ% - -ĹŠ #-ĹŠ/#2.2ĹŠ!4 -.2ĹŠ8ĹŠ% 23 -ĹŠ#-ĹŠ/#2.2ĹŠ !.-5#13( +#2ĹŠ#04(5 +#-3#2ĹŠ +ĹŠ"¢+ 1Ä“
ĹŠ"#!(2(¢-ĹŠ"#+ĹŠ . (#1-.ĹŠ"#ĹŠ ! 1ĹŠ!.-ĹŠ"_! " 2ĹŠ"#ĹŠ/ 3#1- +(2,.ĹŠ (-04(#3 ĹŠ ĹŠ+ ĹŠ/. + !(¢-ĔŊ/.1ĹŠ+ ĹŠ$4341 ĹŠ #+(,(- !(¢-ĹŠ"#ĹŠ+ ĹŠÄĄ+( 1#3 ĢĔŊ+ ĹŠ! - 23 ĹŠ ;2(! ĹŠ24 2("( " Ä“ #1.ĹŠ ĂŒ+ĹŠ 231.ĹŠ "5(13(¢Ŋ04#ĹŠ+ 2ĹŠ 1#$.1, 2ĹŠ2.-ĹŠ(11#5#12( +#2ĔŊ#-ĹŠ 42! ĹŠ "#ĹŠ4-ĹŠ,."#+.ĹŠ2.!( +(23 ĹŠ(11#5.! +#ĹŠ /#1.ĹŠ#ă!(#-3#ĔŊ2(-ĹŠ#-! ,(- 12#ĹŠ +ĹŠ ! /(3 +(2,.ĹŠ-(ĹŠ!./( -".ĹŠ,."#+.2ĹŠ #731 -)#1.2Ä“
ēŊ Ŋ/. 1#9 Ŋ#2Ŋ%#-#1 +(9 " Ŋ #-Ŋ+ Ŋ 2+ ē
&&)1-.)( Ä…Ĺ‹'6-Ĺ‹ )&)-)Ĺ‹ Ĺ‹&)Ĺ‹+/ Ĺ‹- Ĺ‹ , v 2ĹŠ#+ĹŠ5.+!;-ĹŠ,;2ĹŠ%1 -"#ĹŠ"#+ĹŠ,4-".ĹŠĹŠ 8ĹŠ242ĹŠ-4#5 2ĹŠ"(,#-2(.-#2ĹŠ2.-ĹŠ4- ĹŠ +#13 ĹŠ2(ĹŠ#-31 ĹŠ#-ĹŠ !3(5(" "Ä“
i[ [nj_[dZ[ feh bei [ijWZei Z[ [d [b ikXik[be Z[b FWhgk[ DW# Moec_d]" CedjWdW [ ?ZW^e$ Y_edWb Z[ O[bbemijed[ ;ijWZei F[he kdW c[jeZebe]‡W XWiWZW Kd_Zei feZh‡W i[h W‘d ckY^e [d bW YedZkYj_l_ZWZ [bƒYjh_YW Z[ c|i ]hWdZ[ Z[ be gk[ i[ f[d# bWi heYWi ^W ][d[hWZe W^ehW kdW iWXW" i[]‘d h[l[bW kd dk[le dk[lW \eje]hW\‡W Z[b ikXik[be" ZedZ[ WfWh[Y[ ckY^e [ijkZ_e ][ebÂŒ]_Ye$ c|i ]hWdZ[$ ;iW \ehcWY_ÂŒd lebY|d_# ĹŠ YW [i bW \k[dj[ Z[ YWbeh Z[ bei ]ƒ_i[h[i o W]kWi j[hcW# #.#+#!31(!(" " b[i gk[ WjhW[d YWZW W‹e W #ĹŠ+ 2ĹŠ31#2ĹŠ%1 -Äą "#2ĹŠ#14/!(.-#2ĹŠ BW YedZkYj_l_ZWZ [i c_bbed[i Z[ l_i_jWdj[i W [i[ 1#%(231 " 2ĹŠ' !#ĹŠ kdW YWhWYj[h‡ij_YW fh[# \Wceie fWhgk[ dWY_edWb$ !(#-3.2ĹŠ"#ĹŠ,(+#2ĹŠ i[dj[ [d bWi heYWi Z[ "#ĹŠ  .2ĔŊ".2ĹŠ F[he Z[XW`e i_]k[ bWj[dj[ !4 1(#1.-ĹŠ4- ĹŠ i_b_YWje \kdZ_Ze o [d #-.1,#ĹŠ;1# ĹŠ"#ĹŠ [b Ăˆikf[hlebY|dÉ" gk[ ^W 23 ".2ĹŠ -(".2ĹŠ [b W]kW iWbWZW YWb_[dj[ gk[ i[ [dYk[djhW Z[ \eh# [djhWZe [d [hkfY_ÂŒd [d [b !.-ĹŠ!#-(9 ĹŠ5.+Äą !;-(! Ä“ fWiWZe o feZh‡W lebl[h W cW dWjkhWb Wb _dj[h_eh Ăˆhk]_hÉ [d [b \kjkhe$ Z[ Wgk[bbWi$ Æ;i Yece KdW _dl[ij_]WY_ÂŒd" gk[ i[ YecfWhWh kdW [Ye]hW\‡W o kdW fkXb_YWh| [d [b Z_Wh_e Y_[dj‡ÒYe h[iedWdY_W cW]dƒj_YW [d [b =[ef^oi_YWb H[i[WhY^ B[jj[hi" Yk[hfe ^kcWde" ied Z_\[h[dj[i i[ XWiW [d kdW dk[lW jƒYd_YW j[Ydebe]‡Wi Z[ _cW][dÇ" [nfb_YW o h[l[bW iki Z[iYedeY_ZWi o kde Z[ bei Wkjeh[i Z[b [ijkZ_e" [dehc[i Z_c[di_ed[i$ C_Y^W[b P^ZWdel" fhe\[ieh Z[ ;d (&&/" bei _dl[ij_]WZeh[i =[e\‡i_YW [d bW Kd_l[hi_ZWZ Z[ kiWhed edZWi i‡ic_YWi fhe# KjW^" [d IWbj BWa[ 9_jo$ BWi _c|][d[i ^WbbWZWi [d l[d_[dj[i Z[ j[hh[cejei fWhW Yedijhk_h kd cWfW Z[ bW pedW (&&/" kj_b_pWdZe edZWi i‡ic_YWi" lebY|d_YW ikXj[hh|d[W" gk[ ceijhWhed gk[ bW \ehcWY_ÂŒd Z[ ŊěŊŊ ;b Ăˆikf[hlebY|dÉ gk[ ^Wo
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
ÄŠ
#% #14/!(.-#2ĹŠ 1#2ĹŠ"#+ĹŠ #++.623.-#
Ĺ—ĹŠ !#ĹŠÄ‰Ä”ÄˆĹŠ,(++.-#2ĹŠ"#ĹŠ  .2Ä“ Ĺ—ĹŠ !#ĹŠÄˆÄ”ÄŠĹŠ,(++.-#2Ä“ Ĺ—ĹŠ !#ĹŠÄ?ÄŒÄ‡Ä“Ä‡Ä‡Ä‡ĹŠ  .2Ä“ heYW YWb_[dj[ i[c_\kdZ_ZW gk[ ^Wo [d bWi fhe\kdZ_ZWZ[i Z[ O[bbemije# d[ [ijWXW [d kd |d]kbe Z[ ,& ]hW# Zei o i[ [nj[dZ‡W [d kdW ikf[hĂ’Y_[ Z[ (*& a_bÂŒc[jhei o ^WijW ,,& a_bÂŒ# c[jhei Z[ fhe\kdZ_ZWZ [d Wb]kdei fkdjei$ ;b dk[le [ijkZ_e" XWiWZe [d bW YedZkYj_l_ZWZ" fk[Z[ Ăˆl[hÉ iebe ^WijW kdW fhe\kdZ_ZWZ Z[ )(& a_# bÂŒc[jhei XW`e j_[hhW$ I_d [cXWh]e" ck[ijhW gk[ bW fWhj[ YedZkYjehW Z[ bW heYW i[ ikc[h][ c|i ikWl[c[d# j[" [d kd |d]kbe Z[ *& ]hWZei" o i[ [nj_[dZ[ [d kdW YebkcdW Z[ ,*& a_bÂŒc[jhei Z[b [ij[ Wb e[ij[$ I[]‘d bei [nf[hjei" [iWi Zei hW# Z_e]hW\‡Wi fk[Z[d fWh[Y[h Z_\[h[d# j[i fehgk[ bWi Zei jƒYd_YWi ck[i# jhWd YeiWi b_][hWc[dj[ Z_ij_djWi$ BWi _c|][d[i i‡ic_YWi i[ ][# d[hWd [d \kdY_ÂŒd Z[ bei Z_ij_djei cWj[h_Wb[i gk[ ^WY[d gk[ bWi ed# ZWi i‡ic_YWi i[ \h[d[d$ ;d YWc# X_e" bW jƒYd_YW ][e[bƒYjh_YW h[jhWjW bei Ă“k_Zei iWbWZei gk[ YedZkY[d [b[Yjh_Y_ZWZ$
ēŊ +Ŋ%1 -Ŋ!  ¢-Ŋ"#+Ŋ #++.623.-#Ŋ#2Ŋ4- Ŋ(-,#-2 Ŋ$4#-3#Ŋ%#.3#1, +Ŋ04#Ŋ 31 #Ŋ Ŋ!(#-3.2Ŋ"#Ŋ341(23 2ē
-ĹŠ%(% -3#ĹŠ#-5.+3.1(.
ŊŊ 31.Ŋ"#Ŋ+.2Ŋ 43.1#2Ŋ"#Ŋ+ Ŋ(-5#23(% !(¢-ĔŊ . #13Ŋ ,(3'ĔŊ3 , (_-Ŋ"#Ŋ+ Ŋ -(5#12(Ĺ ŗ" "Ŋ"#Ŋ 3 'ĔŊ 2#%41¢Ŋ04#Ŋ Ŋ/#2 1Ŋ"#Ŋ+ 2Ŋ"($#1#-!( 2ĔŊĥ#23#Ŋ!4#1/.Ŋ04#Ŋ!.-"4!#Ŋ+ Ŋ
#+#!31(!(" "Ŋ#23;Ŋ#-Ŋ+ Ŋ,(2, Ŋ+.! +(9 !(¢-Ŋ8Ŋ!.-Ŋ(%4 +Ŋ%#.,#31~ Ŋ04#Ŋ+ Ŋ$.1, !(¢-Ŋ"#Ŋ #++.623.-#Ŋ(, %(- " Ŋ"#Ŋ$.1, Ŋ2~2,(! Ģē
ĹŠ(-!+(- !(¢-ĹŠ,;2ĹŠ24 5#ĹŠ/."1~ ĹŠ24%#1(1ĹŠ04#ĹŠ+ ĹŠ9.- ĹŠ! +(#-3#ĹŠ1#31 3 " ĹŠ/.1ĹŠ+ ĹŠ 3_!-(! ĹŠ"#ĹŠ.+ 2ĹŠ2~2,(! 2ĹŠ/."1~ ĹŠ#23 1ĹŠ#-54#+3 ĹŠ/.1ĹŠ4- ĹŠ,;2ĹŠ ,/+( ĔŊ4- ĹŠ#2/#!(#ĹŠ"#ĹŠ $4-" ĹŠ24 3#11;-# ĹŠ"#ĹŠ1.! 2ĹŠ,#"(.ĹŠ$4-"(" 2ĹŠ8ĹŠ+~04(" 2ĔŊ2#%ĂŒ-ĹŠ+.2ĹŠ(-5#23(% ".1#2Ä“
/ 0 ŋ, - ,0 ŋ ŋ*,). #š(
1 !3#1~23(! 2ĹŠ
BW [if[Y_[" Yed Zei Yk[hdei o cWdY^Wi XbWdYWi WbWh]WZWi [dY_cW Z[ bei e`ei" \k[ Z[iYk# X_[hjW [d '//( o \eje]hWĂ’WZW feh ‘bj_cW l[p [d kd Xeigk[ bWei_Wde$ Kd [`[cfbWh \k[ YWfjkhWZe [b W‹e fWiWZe feh YWpWZeh[i \khj_lei [d BWei o ckh_ÂŒ W bei feYei Z‡Wi$ ;b iWebW Ă’]khW [d bW Ăˆb_ijW he`WÉ Z[ Wd_cWb[i [d ]hWl[ f[# b_]he Z[ [nj_dY_ÂŒd Z[ bW Kd_ÂŒd ?dj[hdWY_edWb fWhW bW 9edi[h# lWY_ÂŒd Z[ bW DWjkhWb[pW$ ;ij[ [`[cfbWh de [i YWfWp Z[ ieXh[l_l_h ckY^e j_[cfe [d YWkj_l[h_e o bei Y_[dj‡ÒYei iWX[d cko feYe WY[hYW Z[ iki YeijkcXh[i$
(/ĹŠ#!.+¢%(!. ĹŠ +ĹŠÄ‰ÄŠĹ˜ĹŠ"#ĹŠ+.2ĹŠ1#2("4.2ĹŠ41 -.2ĹŠ Ĺ—/4#"#-ĹŠ2#1ĹŠ1#!(!+ ".2ĔŊ/.1ĹŠ#2.ĹŠ#2ĹŠ(,/.1Äą 3 -3#ĹŠ24ĹŠ /.13#ĹŠ"#2"#ĹŠ! 2 Ä“
} ēŊ 2Ŋ4- Ŋ#2/#!(#Ŋ,48Ŋ 54+-#1 +#Ŋ#-Ŋ! 43(5(" "ē
1.3#!!(¢-Ŋ
I[]‘d MM<" [d bei ‘bj_cei W‹ei bWi feXbWY_ed[i Z[ iWebW i[ ^Wd h[ZkY_Ze Zh|ij_YWc[d# j[ W YWkiW Z[ bW fƒhZ_ZW Z[ ik ^|X_jWj feh bW jWbW cWZ[h[hW o bW YWpW \khj_lW$ ;b ikXZ_h[Yjeh Z[ bW h[i[h# lW Z[ GkWd] DWc" :Wd] :_d^ D]ko[d" [if[hW gk[ [b fheo[Yje WokZ[ W fh[i[hlWh Wb Wdj‡bef[$ ÆDe iebe gk[h[cei iWblWh Z[ bW [nj_dY_ÂŒd Wb iWebW" i_de jWcX_ƒd fhej[][h Wb h[ije Z[ bW h_YW X_eZ_l[hi_ZWZ Z[ 7d# dWc_jWÇ" ZedZ[ h[Y_[dj[c[d# j[ ^Wd i_Ze ^WbbWZei j_]h[i" X_iedj[i o ejhWi [if[Y_[i gk[ i[ Yh[‡Wd Z[iWfWh[Y_ZWi [d bW h[]_ÂŒd" Z_`e$
ĔŊ ŊěŊL_[jdWc [ijWXb[Y[# h| kdW Wcfb_W h[i[hlW dWjkhWb fWhW fhej[][h Wb iWebW" kd Wd# j‡bef[ Yedi_Z[hWZe [b cWc‡\[# he c|i hWhe Z[b ckdZe" Wdkd# Y_Whed bWi Wkjeh_ZWZ[i beYWb[i o [b <edZe CkdZ_Wb fWhW bW DWjkhWb[pW MM< $ ;b iWdjkWh_e i[ kX_YWh| [d bW h[]_ÂŒd cedjW‹eiW Z[ 7d# dWc_jW" Y[hYW Z[ bW \hedj[hW Yed BWei" ZedZ[ ^WX_jWd bei Wf[dWi +&& [`[cfbWh[i gk[ gk[ZWd Z[b [d_]c|j_Ye Wd_# cWb" _dZ_YÂŒ [b :[fWhjWc[dje Z[ 9edi[hlWY_ÂŒd Z[ bW fhe# l_dY_W l_[jdWc_jW Z[ GkWd] DWc$
Ä Ä€
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?Ĺ?
ĹŠ ĹŠ
11 -! ĹŠ%(1 ĹŠ #-ĹŠ)4-(.ĹŠ
ĹŠ: ŊĚŊ ĹŠ ! -3 -3#ĹŠ#23 ".4-("#-2#ĔŊ 04(#-ĹŠ1#!(_-ĹŠ+ -9¢Ŋ +ĹŠ,#1Äą ! ".ĹŠ24ĹŠ2_/3(,.ĹŠ"(2!.ĹŠ "#ĹŠ#234"(.ĔŊ1#%1#2 1;ĹŠ ĹŠ +.2ĹŠ#2!#- 1(.2ĹŠ!.-ĹŠ24ĹŠ ÄĽ #,,#ĹŠ$ 3 +#ĹŠ3.41ČĔŊ04#ĹŠ 11 -! 1;ĹŠ#+ĹŠ/1¢7(,.ĹŠÄˆÄ?ĹŠ "#ĹŠ)4-(.ēŊ +ĹŠ#2/#!3;!4+.ĔŊ 04#ĹŠ/1.,.!(.- 1;ĹŠ24ĹŠ ;+ 4,ĹŠÄĽ #,,#ĹŠ$ 3 +#ČĔŊ 3 , (_-ĹŠ(-!+4(1;ĹŠ ĹŠ+ ĹŠ -" ĹŠ #22(#ĹŠ -"ĹŠ '#ĹŠ .8ĹŠ .82ĹŠÄœĹŠ #15.ĹŠ!.,.ĹŠ3#Äą +.-#1.ĔŊ "#,;2ĹŠ"#ĹŠ3#-#1ĹŠ !.,.ĹŠ(-5(3 " ĹŠ#2/#!( +ĹŠ ĹŠ (!*(ĹŠ (- )ēŊ ĹŠ
11#23 ".ĹŠ /.1ĹŠ5(.+#-3.ĹŠ
ĹŠ ĹŠ
+ĹŠ !3.1ĹŠ' 1~ ĹŠ3#-(".ĹŠ4- ĹŠ"(2!42(¢-ĹŠ !.-ĹŠ24ĹŠ#2/.2 ĹŠ8ĹŠ2#ĹŠ +3#1¢Ŋ!.-ĹŠ+ ĹŠ .+(Äą !~ ĔŊ2#%ĂŒ-ĹŠ 43.1(" "#2ēŊ ĔŊ ŊŊěŊ ;b WYjeh [i#
WYjeh jeZWl‡W f[hcWd[Y‡W ^WijW jWZekd_Z[di[ D_YebWi 9W][ \k[ Wo[h XW`e YkijeZ_W feb_Y_Wb$ Z[j[d_Ze bW cWZhk]WZW Z[b i|XWZe [d Dk[lW Eh# Ŋ
.ĹŠ24!#"(".ĹŠ :[ WYk[hZe W be dWhhW# b[Wdi ;;$KK$ feh l_e# b[dY_W Zecƒij_YW" _d\eh# Ze feh JCP" 9W][ \k[ %#ĹŠ2#ĹŠ' ĹŠ! 2 Äą Z[j[d_Ze feh l_eb[dY_W cÂŒ Wo[h JCP$ ".ĹŠ#-ĹŠ31#2ĹŠ.! Äą 9W][" Z[ *- W‹ei" \k[ 2(.-#2ēŊ 4ĹŠ/1(Äą Zecƒij_YW [d Dk[lW Eh# ,#1 ĹŠ#2/.2 ĹŠ$4#ĹŠ Whh[ijWZe feh kd YWh]e + ĹŠ !31(9ĹŠ 31(!( ĹŠ b[Wdi jhWi kdW h_‹W Yed Z[ WXkie Zecƒij_Ye o kd 104#33#ĔŊ"#2Äą ik ck`[h" 7b_Y[ A_c$ ;b /4_2ĹŠ$4#ĹŠÄˆÄ‡Ä‘ĹŠ ejhe Z[ Wbj[hWY_ÂŒd Z[b eh# "~ 2ĹŠ#2/.2.ĹŠ"#ĹŠ ]WdWZeh Z[ kd âiYWh [d
(2 ĹŠ 1(#ĹŠ '//, [ijWXW XehhWY^e" Z[d f‘Xb_Ye$ 1#2+#8ēŊ .-ĹŠ (,ĹŠ I[]‘d [b fehjWb [if[# 24 (¢Ŋ +ĹŠ +3 1ĹŠ#-ĹŠ ]h_jWdZe o [cfk`WdZe W ik ck`[h [d fb[dW YWbb[" Y_Wb_pWZe [d \Wceiei" [b ĉććÄ?ēŊ
YkWdZe kd jWn_ijW gk[ fWiWXW feh Wbb‡ i[ Wf[hY_X_ÂŒ Z[ bW i_jkW# Y_ÂŒd o bbWcÂŒ W bW Feb_Y‡W$ 9W][" Wdj[ bW bb[]WZW Z[ bei W][dj[i" b[i ^WXh‡W Z[iW\_WZe o bei ][dZWhc[i" ^Whjei Z[ bW i_jkWY_ÂŒd" b[ [ifeiWhed o Yed# Zk`[hed W bW Y|hY[b" ZedZ[ \k[ Ă’Y^WZe Yece Z[b_dYk[dj[ Ye# c‘d o WYkiWZe Z[ Æl_eb[dY_W Zecƒij_YWÇ o ÆWbj[hWY_ÂŒd Z[b ehZ[d f‘Xb_YeÇ$ 7b_Y[ A_c" bW YWcWh[hW Yed bW gk[ i[ YWiÂŒ [d [b (&&* o cWZh[ Z[ ik ^_`e AWb#;b" ^W Z[Y_Z_Ze de fh[i[djWh YWh]ei YedjhW ik [ifeie" Wb[]WdZe gk[ bW W]h[i_ÂŒd \k[ c[hWc[d# j[ l[hXWb o gk[ Æde ^kXe Yed# jWYje \‡i_YeÇ$
$
.
/
& # "
"
#
6
$% # %&(&"%&!
. '( ) #
' ## * ##% # *%+ & + # % * # % ! &$%
- .
! "
ÂĄ Ä !(¢Ŋ4-ĹŠ"~ ĹŠ!.,.ĹŠ'.8Ä&#x;
ÄŠĹ‹
?% D8I:<CF D<A@8 I% _d\a`X7cX_fiX%Zfd%\Z
5ĂŒ2 '( ,7$/,$
Ŋ5#1" "Ŋ3(#-#Ŋ4-Ŋ5 +.1Ŋ(-! +!4+ +#Ŋ/ 1 Ŋ "ēŊ 2Ŋ4- Ŋ/#12.- Ŋ2(-!#1 Ŋ8Ŋ04#Ŋ 42! Ŋ+ Ŋ 2(-!#1(" "Ŋ#-Ŋ+.2Ŋ"#,;2ēŊ 4Ŋ3#,/#1 Ĺ ,#-3.Ŋ#2Ŋ +#%1#Ŋ8Ŋ#23.Ŋ' !#Ŋ04#Ŋ2(#,/1#Ŋ #23_Ŋ1."# " Ŋ"#Ŋ%#-3#ēŊ
'8(f2
3852 /,03,2 6,03/(
(16(1$'$
48ĂŒ0,&2 '( 6ĂŒ0%2/2 1(
7(50,1$&,Ă?1
6(1&,//2
1$7$ '( /$ /(&+(
6215ĂŒ(
ĸ2#/3(#, 1#ŊĉĊŊĹŊ.!34 1#ŊĉĉĚ
.2Ŋ(-!.-5#-(#-3#2Ŋ8Ŋ/1. +#, 2Ŋ04#Ŋ2#Ŋ /1#2#-3 -ĔŊ#2/#!( +,#-3#Ŋ+.2Ŋ1#+ !(.Ĺ - ".2Ŋ!.-Ŋ ,(%.2Ŋ8Ŋ'.% 1Ŋ"# #-Ŋ2#1Ŋ 1#24#+3.2Ŋ!.-Ŋ(-3#+(%#-!( Ŋ8Ŋ31 -04(+(" "ēŊ ĖŊ 1 )#Ŋ!.-Ŋ#-342( 2,.Ŋ , -3#-(#-".Ŋ+ Ŋ2#1#-(" "ē
ĹŠĹŠ
ĸ.!34 1#ŊĉĊŊĹŊ-.5(#, 1#ĹŠÄ‰ÄˆÄšĹŠ
2Ŋ#,.!(.-#2Ŋ"#Ŋ242Ŋ ,(%.2Ŋ3(#-"#-Ŋ Ŋ 2#1ŊĄ4!34 -3#2Ŋ8Ŋ/4#"#Ŋ04#Ŋ#23.2Ŋ1#04(#Ĺ 1 -Ŋ /.8.Ŋ8Ŋ 84" ēŊ ĖŊ (2$143#Ŋ + Ŋ/ 9Ŋ04#Ŋ' !#Ŋ/.2( +#Ŋ!.-Ŋ242Ŋ !3(34"#2Ŋ "#Ŋ)423(!( Ŋ8Ŋ .-" "ē
ĹŠĹŠ
ĸ-.5(#, 1#ŊĉĉŊĹŊ"(!(#, 1#ĹŠÄ‰ÄˆÄšĹŠ
Ŋ2(34 !(¢-Ŋ"#-31.Ŋ"#Ŋ24Ŋ;1# Ŋ/1.$#2(.- +Ŋ 3(#-"#Ŋ Ŋ5.+5#12#Ŋ3#-2 Ŋ"# (".Ŋ +Ŋ! 1;!3#1Ŋ "#Ŋ242Ŋ)#$#2ĔŊ/1.!41#Ŋ, -3#-#1Ŋ"(23 -!( Ŋ !.-Ŋ#++.2ēŊ ĖŊ "ēŊ/4#"#Ŋ2#, 1 1Ŋ ./3(,(2,.Ŋ#-Ŋ+ 2Ŋ/#12.- 2Ŋ"#2#2/#1 " 2ēŊ Ŋ
ĹŠĹŠ
ĸ"(!(#, 1#ŊĉĉŊĹŊ#-#1.ĹŠÄˆÄ’Äš
.2Ŋ5( )#2Ŋ +Ŋ#731 -)#1.Ŋ-.Ŋ2.-Ŋ!.-5#Ĺ -(#-3#2Ŋ#-Ŋ#23#Ŋ/#1~.".Ŋ8 Ŋ04#Ŋ+ Ŋ5(" Ŋ ++~Ŋ 3(#-"#Ŋ Ŋ2#1Ŋ"($~!(+ēŊ ĖŊ .-2_15#Ĺ 2#Ŋ! +, ".ēŊ
6ĂŒ0%2/2 '(
'(/7$
6ĂŒ0%2/2 '(
587(1,2
+ĹŠ-4#5.ĹŠ2'.6 "#+ĹŠ ;) 1.ĹŠ .!.
$=8)5(
5(/,*,26$ 7248( 0,/,7$5 $/ $0$1(&(5
7(025 352<(&7,/
621,'2
/,6$ 3/$1$
(6&8&+$5
92= '( $558//2
Ä”ĹŠÄˆÄ‡Ä–Ä‡Ä‡
&$5&20(5
$3Ă?&23( '(
1,f2 '(
*5$1'(
3(&+2
<8148( '(/
)$/7$5 (55$5
&$5&$-($5
5$721$5 3/$7(52
$&75,= '( /$ 7(/(129(/$ 81 *$1&+2 $/ &25$=Ă?1
025'(5 /26
/,&25 (0,7,5 (/ 32//2 (/ 621,'2
5$721(6
7,(032 0$1$'$ '( &(5'26
3$57,5 0$5&+$5
(/2*,$5
)$//$5
&$/&8/$5 (/ 35(&,2 '( $/*2 (1&$//$5 (0%$1&$5
$&75,= '( /$ 7(/(129(/$ /$ )($ 0É6 %(//$
$
1
=
$
*
( 6ĂŒ0%2/2 '(
&
$
5 35,0(5
$
7 $ 5 352%$5
7
$/&$1=$5
6ROXFLyQ DQWHULRU ' 9(//Ă?1 %5,//$5 &(17(///($5
5 $
$ / $ 25$&,Ă?1 0$+20(7$1$ (5525 (1 81 7(;72 ,035(62
'
$
,
5
5
$
$
5
7
6ĂŒ0%2/2 '( 62',2
$ 5
1 $
21'$
(
1
&$/,),&$&,Ă?1
3
$
1
$
+20%5(
(6&2/$5
$/7$5
$ '21$ %$f$'2 '( /8=
2
2
7 $ ',63$52 +8(62 '( /$ &$'(5$
&
32/ĂŒ7,&2
$
,
2
/
&+,12
$75$3$5
,
7
5
$&725 '( /$ 7(/(129(/$ 7,(55$ '( 3$6,21(6
$ )85,$
5
$
&
$
(
1
6ĂŒ0%2/2 '( &(5,2
62&,('$' $1Ă?1,0$
9$/8$5
7
/
5(/$7,92 $ /$ %2&$ 3(5)25$5
$%8(/$
5
7,(032
(,167(1,2
/
$
5
5
0
$
92= '( $558//2
2
3
2
'8(f$
6
$
$
6
$
5
5
$
/
$
&
$
/
(
5
2
/
6
$
(
*,7$12 '(
7
0
/8*$5 )5ĂŒ2 < '(62/$'2
,19(17$5
5
5 $ '(675(=$ (0%867( 75$03$
$ %/$1&2
7581&$'2 087,/$'2
,e/$*2
2
6
&
&(/(%5,'$'(6 & $ % $ 3 =<IE8E;F 8II898C 1 2 ( 5 E8:@;F (0*) ;I8D8KLI>F <JG8zFC%# 8 1 7 2 <E C<E>L8 =I8E:<J8% 8 5 $ + & yC J< C< ;<9< <C ĂŠK<8KIF 5 ) GĂ?E@:FĂ‹% . ( 7 7 $75,$5&$ '(/ ',/89,2
(3(5&86,Ă?1
5$=$
,
& /,67$ +8(/*$
ĂŒ2 '( 5$1&,$
3
*$/$17(5ĂŒ$ ),185$
$
*
75,81)$5
$
5 2
$ 0
1 $
&20326,&,Ă?1
2
'
1
$
<$&,0,(172 3$57( '(/ +8(92
9
&
$
/
/ĂŒ5,&$
&,(172 &,1&2 (1 520$126
, &É/&8/2
/
$
$57,),&,2
/$%5$5
$
$
5
$
/
$
5
320$'$
( 6ĂŒ0%2/2 '(
$552-$5 (;38/6$5
$0$55$5
* * (,167(1,2 867262 $*5$'$%/(
5(/$7,92 $/ 62/
1
$
3529 (63$ (1 (/ 3$ĂŒ6 9É6&2 81785$
%$75$&,2
&$3$7$=
< $ '8(f2 $/)$
$ 7$&$f2
5
$
)/27$5 (1 (/ $*8$ (67$'2 '( 9(1(=8(/$
9
&$/&,2
&
$
$
7
$
5
5
$
7
2
6ĂŒ0%2/2 '(
$/(-$5 $3$57$5 '20,1$5 '20(67,&$5
1(%/,1$
}
62012/(1&,$ 02'255$
35,1&(6$ ,1&$ $326(172
(0%52//2
$'9(5%,2 '(
20(*$
&$17,'$'
6(&$ (67e5,/ 7$&$f2
ÄŠĹ‹
.-* Ŋ ĔŊćĒĖćć
Ĺ—ĹŠĹŠĹŠ
I[h_[ ]WdWZehW Z[b =beXe Z[ Ehe fhejW]ed_pWZW feh Jedo I^Wb^ekX" gk_[d _dj[h# fh[jW W kd Z[j[Yj_l[ bbWcWZe 7Zh_Wd Ceda" kde Z[ bei c[`eh[i Z[b :[fWhjWc[dje Z[ Feb_Y‡W Z[ IWd <hWdY_iYe$ Ceda [i YedeY_Ze feh ik ^WX_b_ZWZ fWhW kj_b_pWh cƒje# Zei feYe jhWZ_Y_edWb[i fWhW h[iebl[h bei YWiei c|i Z[i# YedY[hjWdj[i f[he Z[ifkƒi Z[b jh|]_Ye Wi[i_dWje Z[ ik [ifeiW jeZWl‡W de h[ik[bje i[ lk[bl[ eXi[i_le o Yecfkbi_le$
(!3.1( ĹŠ #!*' , ĸĈĒÄ?ČĚ
Ĺ—ĹŠ ĹŠĹŠ>eo" ^WY[ )- W‹ei" dWY_ÂŒ L_Yjeh_W 9Wheb_d[ 7ZWci" gk_[d i[ YWiÂŒ [d '/// Yed [b \kjXeb_ijW _d]bƒi :Wl_Z 8[Ya^Wc o Z[iZ[ [i[ [djedY[i kj_b_pW [b Wf[bb_Ze Z[ ik [ifeie$ BW 8[Ya" Yece jWcX_ƒd i[ bW YedeY[" [i kdW Z[ bWi Ă’]khWi Xh_j|d_YWi Z[ bW c‘i_YW fef o Z[ bW ceZW c|i _dĂ“ko[dj[i [d ik fW‡i$ ;d iki _d_Y_ei [d [b [if[Yj|Ykbe i[ ^_pe YedeY[h Yece ceZ[be o feij[h_ehc[dj[ \k[ fWhj[ Z[b gk_dj[je \[c[d_de Z[ c‘i_YW If_Y[ =_hbi" ZedZ[ bW WfeZWXWd Fei^ If_Y[$ ;d [ij[ ‘bj_ce j_[cfe" L_Yjeh_W ^W jhWiY[dZ_Ze Yece Z_i[‹WZehW Z[ ceZWi$
Ĺ—ĹŠĹŠĹŠ
;ij[ f[hiedW`[ fei_Xb[# c[dj[ j_[d[ bW h_iW c|i \WceiW [d bW ^_ijeh_W Z[ bei Z_Xk`ei Wd_cWZei$ ;b F|`Whe BeYe WfWh[Y_ÂŒ W Ă’dWb[i Z[ bW ZƒYWZW Z[ '/)& ^WijW '/-(" W‹e [d gk[ [b fheZkYjeh Z[ bW i[h_[ MWbj[h BWdpj Y[hhÂŒ ik [ijkZ_e$ F[he [ij[ ĂˆWc_]k_bbeÉ lebl_ÂŒ Yed kd dk[le i^em" [b YkWb jkle ) j[cfehWZWi$ Ik h[]h[ie \k[ [d '/// o j[hc_dÂŒ [d (&&( Yed kd jejWb Z[ +) [f_ieZ_ei$
(6&8&+e $3Ă?&23( '( 7$172
3/$17ĂŒ*5$'2
*$162
(;&$9$6,Ă?1
ĂŒ0%2/2 '( 260,2
+2*$5
',63(562
&$%(//2
$ & 3 0 6
2%7(1(5 $57( '( 3(6&$
/2&202725$
ĹŠĹŠ
ĹŠĹŠ
'(638e6 '(
/(1*8$-( 3526$, &2 (1 /$ 32(6ĂŒ$
75$03262 ',26 '( (*,372
8/&É1
ĸ %.23.ŊĉĊŊĹŊ2#/3(#, 1#ŊĉĉĚ 1 3#Ŋ"#Ŋ, -3#-#1Ŋ ).Ŋ!.-31.+Ŋ242Ŋ #,.!(.-#2ēŊ 5(3#Ŋ+ 2Ŋ"(2!42(.-#2Ŋ8Ŋ#-$1#-Ĺ 3 ,(#-3.2Ŋ8 Ŋ04#Ŋ24Ŋ3#,/#1 ,#-3.Ŋ2#1;Ŋ ,48Ŋ#7/+.2(5.ēŊ ĖŊ -Ŋ242Ŋ, -.2Ŋ #23;Ŋ/1.%1 , 1Ŋ24Ŋ$#+(!(" "Ŋ8Ŋ/1.%1#2.ē
/,67$
&219,&72
(0%867(52
3$&7$5
ĹŠĹŠ
0$+20(7$126
9(5%$/
',67,172 '( 0217Ă?1 (1 $%81'$1&,$
$&25'$5
ĸ)4+(.ŊĉĊŊĹŊ %.23.ŊĉĉĚŊ
Ŋ2(34 !(¢-Ŋ#!.-¢,(! Ŋ24$1(1;Ŋ"(5#12.2Ŋ ! , (.2Ŋ/.1Ŋ+.Ŋ04#Ŋ"# #1;Ŋ2#1Ŋ/1#! 5(".Ŋ 8Ŋ#5(3 1Ŋ% 23 1Ŋ#-Ŋ#7!#2.ēŊ 5(3#Ŋ04#Ŋ#23.Ŋ /#1)4"(04#Ŋ24Ŋ#23 (+(" "Ŋ#,.!(.- +ē ĖŊ .2Ŋ)423.2Ŋ2.-Ŋ!.-2314!3.1#2Ŋ "#Ŋ+ Ŋ/ 9ē
25$&,Ă?1 '( /26
',9(562
ĸ, 19.ĹŠÄ‰ÄˆĹŠÄąĹŠ 1(+ĹŠÄˆÄ’Äš #-31.ĹŠ"#ĹŠ24ĹŠ31 ).ĹŠ "ēŊ"# #1;ĹŠ2#1ĹŠ !4(" ".2.ĹŠ8ĹŠ !34 1ĹŠ!.-ĹŠ/ !(#-!( ĹŠ#ĹŠ (-3#+(%#-!( ēŊ -3#-% ĹŠ+ ĹŠ2#1#-(" "ĹŠ/ 1 ĹŠ 2~ĹŠ!.-2#15 1ĹŠ24ĹŠ 4#- ĹŠ2 +4"ēŊ Ä–ĹŠ .+.ĹŠ!.,/1#-"#ĹŠ ĹŠ+.2ĹŠ.31.2ĹŠ04(#-ĹŠ !#/3 ĹŠ 04#ĹŠ! " ĹŠ4-.ĹŠ3(#-#ĹŠ24ĹŠ(-"(5("4 +(" "Ä“
ĸ)4-(.ŊĉĉŊĹŊ)4+(.ŊĉĉĚ .1Ŋ#+Ŋ,.,#-3.Ŋ#5(3#Ŋ+.2Ŋ5( )#2Ŋ!.13.2ĔŊ#2Ĺ /#!( +,#-3#Ŋ2(Ŋ#23.2Ŋ#23;-Ŋ1#+ !(.- ".2Ŋ !.-Ŋ-#%.!(.2Ŋ8 Ŋ04#Ŋ#23.2Ŋ-.Ŋ" 1;-Ŋ+.2Ŋ 1#24+3 ".2Ŋ#2/#1 ".2ēŊ ĖŊ 1 Ŋ 24/#1 1Ŋ+ Ŋ!1(2(2Ŋ' 8Ŋ04#Ŋ3., 1Ŋ!.-!(#-!( Ŋ 8Ŋ !34 1ē
6,*12 0$7(0É7,&2 48( 12 (6 5($/
&(17(1$6
ĹŠĹŠ
: ĹŠĹŠ
',63(562 ',(=
ĸ$# 1#1.ŊĉćŊĹŊ, 19.ŊĉćĚŊ 1.!41#Ŋ1#2.+5#1Ŋ"#Ŋ, -#1 Ŋ2#-2 3 Ŋ8Ŋ , "41 Ŋ+.2Ŋ!.-Ą(!3.2Ŋ"#-31.Ŋ"#Ŋ24Ŋ, 31(Ĺ ,.-(.ēŊ 2Ŋ/1. +#Ŋ04#Ŋ+ 2Ŋ2.!(#" "#2Ŋ2#Ŋ "(24#+5 -ēŊ ĖŊ +Ŋ ,.1Ŋ!.,/ 13(Ĺ ".Ŋ#2Ŋ#+Ŋ/ 1 ~2.Ŋ"#+Ŋ!.1 9¢-ēŊ
ĸ, 8.ĹŠÄ‰ÄˆĹŠÄąĹŠ)4-(.ĹŠÄ‰ÄˆÄš -ĹŠ24ĹŠ'.% 1ĹŠ/4#"#-ĹŠ242!(3 12#ĹŠ! , (.2ĹŠ 04#ĹŠ-.ĹŠ#23 1;-ĹŠ/1#5(23.2ĹŠ/#1.ĹŠ/ 1 ĹŠ+.2ĹŠ 04#ĹŠ"# #1;ĹŠ#23 1ĹŠ/1#5#-(".ēŊ Ä–ĹŠ (,(#-3#ĹŠ24ĹŠ/#12.- +(" "ĹŠ2. 1#ĹŠ#+ĹŠ ,.1Ä“
Ä Ä
(48,3$5
ĹŠĹŠ
^ ĹŠ
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
$&725 '( /$ 7(/(129($/ &8,'$'2 &21 (/ É1*(/
02=2
ĸ#-#1.ŊĉćŊĹŊ$# 1#1.ĹŠÄˆÄ’Äš .1ĹŠ#+ĹŠ,.,#-3.ĹŠ2#ĹŠ/1#2#-3 -ĹŠ"(5#12.2ĹŠ ! , (.2ĹŠ04#ĹŠ-.ĹŠ#23 -ĹŠ/+ -(ă! ".2ĔŊ 2. 1#ĹŠ3.".ĹŠ#-ĹŠ24ĹŠ5(" ĹŠ2#-3(,#-3 +ĹŠ8ĹŠ'.% 1ēŊ Ä–ĹŠ .ĹŠ2#ĹŠ %(3#ĹŠ/.1ĹŠ+.ĹŠ04#ĹŠ-.ĹŠ /4#"#ĹŠ1# +(9 1Ä“
ĸ 1(+ŊĉćŊĹŊ, 8.ŊĉćĚ +Ŋ3#,/#1 ,#-3.Ŋ"#Ŋ242Ŋ'().2Ŋ3(#-"#Ŋ Ŋ 5.+5#12#Ŋ,;2Ŋ1# #+"#Ŋ#Ŋ(-"#/#-"(#-3#ēŊ 1.!41#Ŋ"(2!(/+(- 1+.2Ŋ/#1.Ŋ3 , (_-Ŋ 1(-" 1+#2Ŋ/1.3#!!(¢-Ŋ8Ŋ $#!3.ēŊ Ĺ ĖŊ 4+3(5#Ŋ4- Ŋ2.-1(2 Ŋ1#!.1" -".Ŋ+.2Ŋ ,.,#-3.2Ŋ)4 (+.2.2ē
7(-,'2 '( /$ 5('
6,59,(17(
ĹŠĹŠ
ĹŠĹŠ
: ĹŠ }
23 ,/(".2ĹŠ2¢-(!.2ĹŠ8ĹŠ$.1, !(¢-ĹŠ"#ĹŠ#231#++ 2ĹŠ Ä“ ĹŠ š ;b iWjƒb_j[ >[hi#
Y^[b ^W Z[iYkX_[hje h[Z[i Z[ Ă’# bWc[djei ]Wi[eiei [d bWi dkX[i _dj[h[ij[bWh[i c|i Y[hYWdWi W bW J_[hhW$ 9kh_eiWc[dj[" YWZW Ă’bW# c[dje j_[d[ YWi_ [b c_ice WdY^e" be gk[ WfkdjW W gk[ feZh‡Wd i[h [b h[ikbjWZe Z[ [ijWcf_Zei iÂŒd_# Yei W be bWh]e Z[ dk[ijhW =WbWn_W$ Bei Ă’bWc[djei ied _dc[diei" [nj[dZ_ƒdZei[ W be bWh]e Z[ Z[# Y[dWi Z[ W‹ei#bkp$ >[hiY^[b ^W eXi[hlWZe gk[ bWi [ijh[bbWi c|i `ÂŒl[d[i i[ [dYk[djhWd Yed \h[# Yk[dY_W [d bWi fWhj[i c|i Z[diWi
Z[ [ijei Ă’bWc[djei$ 9ece [`[c# fbe" [b iWjƒb_j[ [khef[e ^W Z[j[Y# jWZe kd Y‘ckbe Yed c|i Z[ '&& [ijh[bbWi Z[ dk[lW ][d[hWY_ÂŒd [d kd Ă’bWc[dje gk[ i[ [nj_[dZ[ W jhWlƒi Z[ bW h[]_ÂŒd Z[ 7gk_bW$ ;ij[ j_fe Z[ Ă’bWc[djei [d bWi dkX[i _dj[h[ij[bWh[i oW ^WX‡W i_Ze eXi[hlWZe feh ejhei iWjƒ# b_j[i [d bW XWdZW Z[b _d\hWhhe`e" f[he dkdYW Yed bW h[iebkY_ÂŒd d[# Y[iWh_W Yece fWhW [ij_cWh ik Wd# Y^e$ 7^ehW" >[hiY^[b Z[ck[ijhW gk[ bei Ă’bWc[djei j_[d[d Wfhen_# cWZWc[dj[ [b c_ice [if[ieh$
Æ;ije [i kdW ]hWd iehfh[iWÇ" Yec[djW :eh_i 7hpekcWd_Wd" Z[b BWXehWjeh_e 7?C Z[ FWh‡i# IWYbWo" WkjehW Z[b Whj‡Ykbe gk[ fh[i[djW [ijei h[ikbjWZei$ @kdje W ejhei _dl[ij_]WZeh[i" :eh_i WdW# b_pÂŒ /& Ă’bWc[djei o Z[iYkXh_ÂŒ gk[ jeZei [bbei fh[i[djWXWd kd [if[ieh Z[ kdei &$) W‹ei bkp" e be gk[ [i be c_ice" kdWi (&$&&& l[Y[i bW Z_ijWdY_W [djh[ [b Ieb o bW J_[hhW$ ;ij[ fWjhÂŒd h[gk_[h[ kdW [nfb_YWY_ÂŒd Y_[dj‡ÒYW$
Ä Ä‚
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
# _2ĹŠ/1#, 341.2ĹŠ 8ĹŠ3 1"~.2
Ĺ—ĹŠ ĹŠĹŠBei d_‹ei gk[ dWY[d Wdj[i e Z[ifkƒi Z[ bW \[Y^W [ijWXb[# Y_ZW j_[d[d cWoeh h_[i]e Z[ Z[iWhhebbWh fWh|b_i_i Y[h[XhWb$ I[]‘d kd ]hkfe Z[ _dl[ij_]W# Zeh[i dehk[]ei" [b WbkcXhW# c_[dje fh[cWjkhe i[ h[bWY_e# dW Yed [ij[ jhWijehde" f[he [i bW fh_c[hW l[p gk[ be l_dYkbWd Yed kd fWhje jhWi ^WX[hi[ Ykcfb_Ze bWi *& i[cWdWi Z[ [cXWhWpe$ I_d [cXWh]e" bei cƒZ_Yei Wi[]khWhed gk[ i[h‡W Z[cWi_WZe fhedje fWhW h[Ye# c[dZWh kdW _dj[hl[dY_ÂŒd [d [b fheY[ie" fehgk[ bWi ck`[h[i gk[ j_[d[d kd fWhje dehcWb" fWiWZe [b j_[cfe ^WX_jkWb" [d\h[djWd kd h_[i]e cko f[gk[‹e Z[ gk[ ik ^_`e dWpYW Yed fheXb[cWi d[khedWb[i Z[ [ij[ j_fe$ Ä“ ĹŠ
49ĹŠ8ĹŠ'4,.1ĹŠ5 -ĹŠ "#ĹŠ+ ĹŠ, -.
BW _bkc_dWY_ÂŒd Whj_Ă’Y_Wb Z[ bWi Y_kZWZ[i _dĂ“ko[ [d [b [ijWZe Z[ |d_ce o [d [b X_[d[ijWh Z[ gk_[d[i l_l[d [d [bbWi" Z[X_Ze W gk[ bWi [ceY_ed[i i[ l[d W\[YjWZWi feh bW bkp khXWdW [d Wif[Yjei Yece [b i[dj_c_[dje Z[ WhhW_]e e bW [ij_cW ^WY_W [b [ifWY_e gk[ bei heZ[W$ BW _bkc_dWY_ÂŒd c|i _dj[diW" Yed kdW YWb_ZWZ Z[ iecXhW Z[Ă’d_ZW" _dY_jW W [ceY_ed[i Z[ cWoeh WYY_ÂŒd Yece bW Z_l[hi_ÂŒd" c_[djhWi gk[ bW Z[ XW`W _dj[di_ZWZ o Yed iecXhW Z_\kiW i[ l_dYkbW Yed [ceY_e# d[i Z[ W\[Yj_l_ZWZ fei_j_lWi e d[]Wj_lWi" [i Z[Y_h [b c_[Ze" bW _dY[hj_ZkcXh[ e [b YWh_‹e$ Ă•
Ĺ—ĹŠ ĹŠĹŠ !3#1( 2ĹŠ2.+(" 1( 2 9_[dj‡ÒYei [ijWZekd_Z[di[i [dYedjhWhed gk[ bei c_Yhe# X_ei ied ckY^e c|i Ă’[b[i [djh[ i‡ Z[ be gk[ Yh[‡Wd o" feh [ijW hWpÂŒd" i[ ^Wd lk[bje jWd h[i_ij[dj[i W bei Wdj_X_ÂŒj_Yei o gk[ Z[ [ijW \ehcW be]hWd c[`ehWh bWi efehjkd_ZWZ[i Z[ ikf[hl_l[dY_W Z[ bW [if[Y_[$ Bei _dl[ij_]WZeh[i Z[iYk# Xh_[hed gk[ Z[djhe Z[ kdW Yebed_W bei c_Yheeh]Wd_icei i[ kd[d fWhW bkY^Wh YedjhW bei [\[Yjei Z[b c[Z_YWc[dje$ 7‹WZ[d gk[ bW [nfb_YWY_ÂŒd feZh‡W [ijWh [d kd Yecfk[ije bbWcWZe _dZeb" gk[ fheZkY[d [ijWi Æi‘f[h XWYj[h_WiÇ fWhW WokZWh W iki YecfW‹[hWi c|i ZƒX_b[i$ ĹŠ
ĹŠ'#,.$(+( Ä” 1 1 ĹŠ/#1.ĹŠ31 3 +#ĹŠ 23 ĹŠ/ 3.+.%~ ĹŠ. +(Äą % ĹŠ ĹŠ+.2ĹŠ/ !(#-3#2ĹŠ ĹŠ , -3#-#1ĹŠ, 8.1#2ĹŠ !4(" ".2ĹŠ#-ĹŠ24ĹŠ5(" ĹŠ "( 1( ēŊ ÆDkdYW ikf[ gk[ j[d‡W ^[ceĂ’# b_W" d_ i_gk_[hW iWX‡W gk[ [iW fW# jebe]‡W [n_ij‡WÇ" Yec[djW 9Wheb_# dW BÂŒf[p" cWZh[ Z[ kd d_‹e gk[ j_[d[ [ijW [dj_ZWZ$ 9k[djW gk[ ik i[]kdZe ^_`e [cf[pÂŒ W ZWh i[‹Wi Z[ gk[ Wb]e [njhW‹e eYkhh‡W [d ik Yk[hfe YkWdZe Wf[dWi [hW kd X[Xƒ$ ÆB[ iWb‡Wd cWdY^Wi [d bWi f_[hdWi" i_d [cXWh]e" [d bei [n|c[d[i gk[ b[ ^WY‡Wd de WfWh[Y‡W dWZW$ 7i‡ fWiÂŒ kd j_[cfe" ^WijW gk[ jkle kdW ]hWd ^_dY^WpÂŒd [d bW heZ_bbW$ JhWi lWh_Wi fhk[XWi" bei cƒZ_Yei Z[iYkXh_[hed Z[ gkƒ i[ jhWjWXWÇ" i[‹WbW 9Wheb_dW" gk_[d W]h[]W gk[ [dj[hWhi[ Z[ [ije de \k[ \|Y_b" f[he gk[ Yed [b fWie Z[b j_[cfe Wfh[d# Z_ÂŒ W cWd[`Wh bW i_jkWY_ÂŒd$
ēŊ 4 -".Ŋ2#Ŋ/1."4!#Ŋ +%4- Ŋ'#1(" ĔŊ+ 2Ŋ/#12.- 2Ŋ24#+#-Ŋ24$1(1Ŋ!4 "1.2Ŋ"#Ŋ".+.1Ŋ(-3.+#1 -3#ēŊŊ
i[ jhWjWhW Z[ bW YW‡ZW Z[ bWi Ă’Y^Wi Z[ Zec_dÂŒ$ De eXijWdj[" kdW f[hiedW Yed ^[ceĂ’b_W de Yk[djW Yed kde Z[ [ijei \WYjeh[i" fh_dY_# fWbc[dj[ [b d‘c[he eY^e" feh be gk[ [b fheY[ie de i[ Yecfb[jW o #,.ă+( ĹŠ#2ēēē I[]‘d L‡Yjeh ;if‡d" ][d[j_ijW" i[ bWi ^[h_ZWi ik[b[d i[h kd fheXb[# jhWjW Z[ kdW [d\[hc[ZWZ gk[ i[ cW ]hWl[" Z_Y[ [b [if[Y_Wb_ijW$ fheZkY[ Z[X_Ze W kd fheXb[cW [d kdW Z[ bWi fhej[‡dWi gk[ Wok# .1, 2ĹŠ"#ĹŠ31 -2,(2(¢7b i[h [ij[ kd Z[\[Yje Z[ bei ][# ZW W YeW]kbWh bW iWd]h[$ 9WZW f[hiedW j_[d[ '( \WYjeh[i d[i" i[ fhefW]W Z[ cWd[hW ^[h[# Z[ YeW]kbWY_ÂŒd" jeZei Z_\[h[dj[i$ Z_jWh_W$ I_d [cXWh]e" [b fheY[ie de [i 9kWdZe i[ fheZkY[ kd Yehj[ e kd ]ebf[ gk[ ZW‹W bei lWiei iWd]k‡# jWd i[dY_bbe o fWhW [dj[dZ[hbe i[ d[ei" [ijei [b[c[djei [cf_[pWd d[Y[i_jW h[fWiWh Wb]kdei Yed# W WYj_lWhi[ fWhW" `kdjei" \ehcWh Y[fjei$ ;b i[ne Z[ kdW f[hiedW i[ kdW [if[Y_[ Z[ j[bW gk[ Y_[hhW bW ^[h_ZW" _cf_Z[ [b Ă“k`e Z[ iWd]h[ Z[j[hc_dW c[Z_Wdj[ bW kd_ÂŒd Z[ Zei YheceiecWi" N o O$ I_ i[ o f[hc_j[ gk[ [ijW i[ Y_YWjh_Y[$ ;b fheY[ie i[ ZW Z[ \ehcW kd[d Zei N" [djedY[i dWY[ kdW Z[iY[dZ[dj[" [i Z[Y_h Z[iZ[ [b d_‹W$ I_ i[ kd[d [b N o [b O" [b h[# d‘c[he '( ^WY_W WXW`e" Yece i_ ikbjWZe [i kd d_‹e$
;i _cfehjWdj[ j[d[h [ije YbWhe" fk[i bW fhej[‡dW Z[b \WYjeh Z[ YeW# ]kbWY_ÂŒd i[ [dYk[djhW [d [b Yhe# ceiecW N$ Feh [ijW hWpÂŒd" [d bWi ck`[h[i de ^Wo cWoeh fheXb[cW$ ;d YWie Z[ gk[ j[d]Wd bW [d\[hc[# ZWZ" ‘d_YWc[dj[ ied fehjWZehWi o de fh[i[djWd i‡djecWi$ I_d [cXWh]e" bei ^ecXh[i i‡ bb[]Wd W cWd_\[ijWh i_]dei Z[ bW fWjebe]‡W o Z[X[d ĹŠ cWdj[d[h Yk_ZWZei [d ik l_ZW Z_Wh_W$ Ä 7(23#ĹŠ4- ĹŠ/1#5#-!(¢-Ä&#x;
#3 ++#2
#/.13#2ĹŠ1#!.,#-" ".2
ŗŊ .11#1ē ŗŊ ,(- 1ē ŗŊ " 1ēŊ
+Ŋ/1.-¢23(!.Ŋ"#Ŋ 5(" Ŋ/ 1 Ŋ / !(#-3#2Ŋ04#Ŋ-.Ŋ 2#Ŋ!4(" -Ŋ#2Ŋ"#Ŋ /1.7(, " Ĺ ,#-3#ŊĉćŊ  .2ēŊ #1.Ŋ2(Ŋ+ Ŋ/#12.Ĺ - Ŋ2#Ŋ 3(#-"#ĔŊ /4#"#Ŋ, -3#-#1Ŋ 4- Ŋ5(" Ŋ-.1, +ēŊ
X[d j[d[hi[ [d Yk[djW$ Feh [`[cfbe" ^Wo gk[ [l_jWh Z[fehj[i Z[ Yed# jWYje \‡i_Ye fWhW fh[l[d_h bWij_cWZei$ F[he [b [nf[h# je [nfh[iW gk[ jWcX_ƒd i[ d[Y[i_jW [ZkYWh W bW ][dj[ fWhW gk[ Wfh[dZW W jhWjWh W bei fWY_[dj[i" fk[i d[Y[# i_jWd lWh_ei Yk_ZWZei$ ;d YWie Z[ gk[ i[ fh[# i[dj[ Wb]kdW YW‡ZW e ^[# h_ZW" [b _dZ_l_Zke Z[X[ WYkZ_h _dc[Z_WjWc[dj[ Wb cƒZ_Ye fWhW gk[ be jhWj[ o" feij[h_ehc[dj[" h[Y_X_h h[^WX_b_jWY_Œd$
;if‡d [nfb_YW gk[ ^Wo Zei \ehcWi [d bWi gk[ i[ fk[Z[ cWd[`Wh [ij[ j[cW0 bW fh[# dWjWb o bW i[YkdZWh_W$ BW fh_c[hW i[ h[Ă’[h[ W [l_jWh fheXb[cWi Wdj[i Z[b dWY_c_[dje$ KdW Z[ bWi cW# d[hWi [i" [d [b YWie Z[ gk[ ĹŠ bW cWZh[ YedepYW gk[ [i fehjWZehW" i[ h[Wb_Y[ kdW -ĹŠ !4 ".1ĹŠ #7(23#-ĹŠÄˆÄ“ÄŽÄ‡Ä‡ĹŠ \[YkdZWY_ÂŒd _d l_jhe gk[ '#,.$~+(!.2ĹŠ f[hc_jW cWd[`Wh bei ][d[i 1#%(231 ".2ĔŊ 2#%ĂŒ-ĹŠ .2_ĹŠ ;#9ĔŊ Z[ jWb \ehcW gk[ [b X[Xƒ de '#, 3¢+.%.Ä“ +ĹŠ31 3 ,(#-3. i[ l[W W\[YjWZe$ :[iZ[ ^WY[ YkWjhe W‹ei @eiƒ F|[p" ^[cWjÂŒbe]e" i[ be]hÂŒ _cfb[c[djWh kd i[‹WbW gk[ ]hWY_Wi W bei ĹŠ fheY[Z_c_[dje c[Z_Wdj[ WlWdY[i Z[ bW j[Ydebe]‡W" [b YkWb i[ _do[YjW [b \WYjeh W^ehW jWcX_ƒd ^Wo _dl[i# L??? [d [b Yk[hfe Z[ gk_[# j_]WY_ed[i gk[ WfkdjWd 1ēŊ ~!3.1ĹŠ 2/~d[i j_[d[d ^[ceĂ’b_W$ ÄŠÄŠÄˆÄ‘Ä‰Ä‘ÄŽÄľ W bW ceZ_\_YWY_ÂŒd Z[ bei ćĒĒĒĊĉÄ?Ä’ÄŒ ;ije i[ be]hW ]hWY_Wi W ][d[i Z[b \[je fWhW feZ[h bW cWd_fkbWY_ÂŒd ][dƒj_YW" Yehh[]_h bW WdecWb‡W$ F[he bW YkWb f[hc_j[ Yh[Wh fhe# W]h[]W gk[ [ije jeZWl‡W de i[ j[‡dWi i_d gk[ i[ d[Y[i_j[d jhWdi# fhWYj_YW o [if[hW gk[ Z[djhe Z[ \ki_ed[i iWd]k‡d[Wi o ZW Yece kdei Y_dYe W '& W‹ei oW i[ fk[ZW h[ikbjWZe cWoeh i[]kh_ZWZ [d [b h[Wb_pWh [d [b fW‡i$ fheY[ie$ BW i[]kdZW \ehcW Z[ fh[l[d# ;b fheXb[cW [i gk[ [ij[ \WYjeh Y_ÂŒd i[ h[Ă’[h[ W [l_jWh fheXb[# i[ Z[i]WijW cko h|f_Ze o iebe cWi" YkWdZe i[ iWX[ gk[ bW f[h# ZkhW kdWi ^ehWi [d [b Yk[hfe" feh be gk[ i[ Z[X[ Wfb_YWh jh[i iedW oW j_[d[ bW [d\[hc[ZWZ$ l[Y[i feh i[cWdW fWhW ]WhWdj_# 4(" ".ĹŠ!.-ĹŠ#+ĹŠ#23(+.ĹŠ"#ĹŠ5(" pWh ƒn_je$ I_ [ije i[ Ykcfb[" bWi f[hiedWi FWhW F|[p" [i cko _cfehjWdj[ gk[ bW f[hiedW W\[YjWZW" ik \Wc_# gk[ j_[d[d bW [d\[hc[ZWZ fk[Z[d b_W o ik [djehde ^WX_jkWb Yedep# Z[i[dlebl[hi[ dehcWbc[dj[ [d YWd Z[ gkƒ i[ jhWjW bW ^[ceĂ’b_W ik l_ZW Z_Wh_W$$$ [ie i‡" cWdj[d_[d# o Yk|b[i ied bei Wif[Yjei gk[ Z[# Ze bei Yk_ZWZei X|i_Yei$
5(3#ĹŠ4- ĹŠ"(;+(2(2 23#ĹŠ#2ĹŠ4-ĹŠ/1.!#"(,(#-3.ĹŠ,.+#23.ĹŠ04#ĹŠ2#ĹŠ /+(! ĹŠ#-ĹŠ! 2.2ĹŠ"#ĹŠ%1 5#ĹŠ(-24ă!(#-!( ĹŠ1#- +ēŊ Bei h_‹ed[i ied ÂŒh]Wdei gk[ fWhW gk[ bei h_‹ed[i lk[blWd W \kdY_edWh Z[ cWd[hW j_[d[d kdW \ehcW WbWh# dehcWb$ ]WZW" cko i_c_bWh W bW Z[ kdW ^WXW o i[ [dYk[djhWd ĹŠ BWi YWkiWi ied bWi _d# kX_YWZei bW fWhj[ feij[# \[YY_ed[i e [b _dWZ[YkW# h_eh Z[ bW [ifWbZW$ Ze kie Z[ \|hcWYei$ 4#"#-ĹŠ/1."4Äą Ied _cfehjWdj[i feh# !(12#ĹŠ! 2.2ĹŠ"#ĹŠ >Wo ejhe fheXb[cW (-24$(!(#-!( ĹŠ gk[ Ykcfb[d bW \kdY_ÂŒd 1#- +ĹŠ#-ĹŠ-( .2ĔŊ gk[ i[ YedeY[ Yece _d# Z[ [b_c_dWh [b [nY[ie Z[ /.1ĹŠ+.ĹŠ%#-#1 +ĹŠ+ ĹŠ ! 42 ĹŠ2#ĹŠ"# #ĹŠ ĹŠ ik\_Y_[dY_W YhÂŒd_YW" bW W]kW Z[b Yk[hfe" [l_jWh [b /1. +#, 2ĹŠ!.-Äą YkWb fh[i[djW kd YkWZhe jWd Yecfb[`e gk[ [i Yed# hWgk_j_ice" bW fƒhZ_ZW Z[ %_-(3.2ēŊ YWbY_e [d bei ^k[iei o gk[ i_Z[hWZe fheXb[cW Z[ i[ WYkckb[d Wb]kdWi iki# ĹŠ iWbkZ f‘Xb_YW o iki Yed# jWdY_Wi [d bW iWd]h[$ i[Yk[dY_Wi ied ckY^e 9ƒiWh L|iYed[p" d[# c|i dejeh_Wi [d WZkbjei + !(¢-ĹŠ cWoeh[i$ \hÂŒbe]e" Wi[]khW gk[ bei ĹŠ/. , 8.1ĹŠ"#ĹŠÄŒÄ‡ĹŠ h_‹ed[i fk[Z[d ik\h_h  .2ĹŠ3(#-#ĹŠ ;djh[ iki eh‡][d[i [ij| bW Z_WX[j[i j_fe Zei Z[i]Wij[ i_ de ied X_[d , 8.1#2ĹŠ1(#2%.2ĹŠ "#ĹŠ"  .ĹŠ#-ĹŠ+ ĹŠ Yk_ZWZei$ ;ije" W ik l[p" $4-!(¢-ĹŠ1#- +ēŊ o bW Whjh_j_i h[cWje_Z[W$ feZh‡W ][d[hWh ZW‹ei [d bW iWbkZ o lWh_Wi Yecfb_# .2( +#ĹŠ31 3 ,(#-3. YWY_ed[i$ 9WZW f[hiedW o YWZW "#ĹŠ+ ĹŠ/. + !(¢-ĹŠ YWie ied Z_ij_djei" feh ,4-"( +ĹŠ- !#ĹŠ be gk[ de ^Wo kdW \ehcW .1, 2ĹŠ"#ĹŠ"#3#1(.1. !.-ĹŠ4-ĹŠ2.+.ĹŠ 1( ¢-Ä“ ‘d_YW Z[ \h[dWh [b fhe# L|iYed[p [nfb_YW gk[ [n_ij[d Zei j_fei Z[ _dik# Xb[cW$ ;d YWie Z[ kdW _dikĂ’Y_[dY_W Ă’Y_[dY_W$ BW fh_c[hW [i bW W]k# ZW" gk[ Yedij_jko[ kd fheXb[cW W]kZW" be gk[ i[ jhWjW [i Z[j[h# \h[Yk[dj[ [d YkWdje Wb d‘c[he c_dWh Yk|b [i bW YWkiW [nWYjW Z[ fWY_[dj[i$ ;d fh_dY_f_e [i h[# fWhW WjWYWhbW Z_h[YjWc[dj[$ ;i l[hi_Xb[" f[he i_ bW i_jkWY_ÂŒd de Z[Y_h" i_ i[ fheZk`e kd jWfedW# [i Yecfb[`W i[ fk[Z[ h[iebl[h c_[dje [d bWi l‡Wi kh_dWh_Wi i[
ÄŽĹ˜
.1, 2Ŋ"#Ŋ/1#5#-!(¢ŗŊŊ _2 1Ŋ ;2!.-#9ĔŊ-#$1¢+.%.ĔŊ 2#%41 Ŋ04#Ŋ-.Ŋ2#Ŋ/4#"#-Ŋ#5(3 1Ŋ3.".2Ŋ+.2Ŋ /1. +#, 2Ŋ1#- +#2ĔŊ/4#2Ŋ' 8Ŋ +%4-.2Ŋ04#Ŋ3(#-#-Ŋ! 42 2Ŋ!.-%_-(3 2ēŊ , (_-Ŋ
#2ĹŠ(,/.13 -3#ĹŠ3#-#1ĹŠ#-ĹŠ!4#-3 ĹŠ04#ĹŠ24$1(1ĹŠ"#ĹŠ,4!' ĹŠ2#"ĔŊ-.ĹŠ-#!#2 1( ,#-3#ĹŠ (,/+(! ĹŠ04#ĹŠ2#ĹŠ#23;ĹŠ3#-(#-".ĹŠ +%ĂŒ-ĹŠ3(/.ĹŠ"#ĹŠ(-24ă!(#-!( ēŊ .,.ĹŠ1#%+ ĹŠ%#-#1 +ĔŊ/ 1 ĹŠ(,/#"(1ĹŠ+ ĹŠ / 1(!(¢-ĹŠ"#ĹŠ(-!.-5#-(#-3#2ĔŊ+.ĹŠ,#).1ĹŠ #2ĹŠ#5(3 1ĹŠ+.2ĹŠ3¢7(!.2ĹŠ8ĹŠ+ ĹŠ 43.,#"(! !(¢-Ä“ "#,;2ĔŊ#2ĹŠ1#!.,#-" +#ĹŠ, -3#-#1ĹŠ4-ĹŠ!.-23 -3#ĹŠ!'#04#.ĹŠ8ĹŠ!.-31.+ĹŠ"#ĹŠ /#2.ĔŊ/1#2(¢-ĹŠ 13#1( +ĔŊ-(5#+#2ĹŠ"#ĹŠ%+4!.2 ĹŠ8ĹŠ"#ĹŠ!.+#23#1.+ēŊ
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. ÄŒĹ?
Ä Äƒ
jhWjW Z[ h[iebl[h [i[ fkdje$ I_ [b fheXb[cW h[ikbjW i[h YhÂŒd_Ye" be c|i Yec‘d [i fheY[Z[h W kdW Z_|b_i_i$$$ i_ [ije de [i ikĂ’Y_[dj[ ^WXh‡W gk[ h[Wb_pWh kd jhWifbWdj[ Z[ ÂŒh]Wde$ Ä #ĹŠ04_ĹŠ2#ĹŠ31 3 ĹŠ+ ĹŠ"(;+(2(2Ä&#x;
I[]‘d L|iYed[p" [ij[ [i kd fheY[Z_c_[dje gk[ i[ h[Wb_pW fWhW h[_dijWbWh W bW f[hiedW [d [b c[Z_e ieY_Wb ]hWY_Wi Wb c[`ehWc_[dje Z[ ik YWb_ZWZ Z[ l_ZW$ C[Z_Wdj[ bW Z_|b_i_i i[ be# ]hW ikij_jk_h [b jhWXW`e gk[ bei h_‹ed[i Z[X[h‡Wd [ijWh h[Wb_pWdZe$ ;n_ij[d Zei j_fei fh_dY_# fWb[i gk[ ied bW ^[ceZ_|b_i_i o bW Z_|b_i_i f[h_jed[Wb$ 7c# Xei i[ [dYWh]Wd Z[ Ă’bjhWh bW iWd]h[ fWhW [b_c_dWh bei Z[# i[Y^ei f[b_]heiei Z[b Yk[hfe o [b [nY[ie Z[ iWb o W]kW$ ;b _dZ_l_Zke gk[ fWiW feh [ij[ fheY[ie Z[X[ j[d[h [d Yk[djW gk[ de [i kdW jƒYd_YW YkhWj_lW" i_de fWb_Wj_lW" gk[ h[gk_[h[ Z[ lWh_ei Yk_ZWZei [d YkWdje W bW Wb_c[djWY_ÂŒd XWbWdY[WZW" \ehjWb[Y_c_[dje Z[ ^k[iei o Y^[gk[e Yedi# jWdj[ Z[ bW fh[i_ÂŒd Whj[h_Wb$ JWcX_ƒd [i _cfehjWd# j[ gk[ h[Yk[hZ[ gk[ Z[X[h| cWdj[d[hi[ [d [b fheY[ie ZkhWdj[ jeZW ik l_ZW$ 7kd# gk[ bWi YedZ_Y_ed[i ^Wd YWcX_WZe o c[`ehWZe ckY^e ZkhWdj[ bei ‘bj_cei '+ W‹ei" kd fWY_[dj[ Z[ _dikĂ’Y_[dY_W h[dWb YhÂŒd_YW Z[X[ WYkZ_h Wb c[dei Zei e jh[i l[Y[i feh i[cWdW W gk[ b[ fhWYj_gk[d [ij[ fheY[Z_c_[dje$$$ [ije ZkhWdj[ jeZW ik l_ZW$
'( 2325781,'$' 0$48,1$ '( ,035(6,21 (1 2))6(7 0$5&$ 62/1$ 02'(/2 &2/25(6 $5($ '( ,0 35(6,Ă?1 ; 6,67(0$ '( $/,0(17$&,21 75,)$6,&$ 9(1'2 '( 2325781,'$' 7(/()2126 $ 3 N P
5(0$7( &$0,21(7$6 ; < ; $ GLHVHO \ D JDVROLQD HQ WRGDV ODV PDUFDV DxR GHVGH DXWRV HQ WRGDV ODV PDUFDV DxR GHVGH
$ &
ēŊ Ŋ 43.,#"(! !(¢-Ŋ#2Ŋ4- Ŋ"#Ŋ+ 2Ŋ! 42 2Ŋ"#Ŋ+.2Ŋ/1. +#, 2Ŋ1#- +#2ēŊ
ēŊ ., 1Ŋ %4 Ŋ#2Ŋ$4-" ,#-3 +Ŋ/ 1 Ŋ, -3#-#1Ŋ2 -.2Ŋ+.2Ŋ1( .-#2Ŋ8Ŋ/ 1 Ŋ+ Ŋ 2 +4"Ŋ#-Ŋ%#-#1 +ēŊ
9(17$6 '( (;&$9$'25$6 &$57(3,//$5 GHVGH QXHYDV *DOOLQHWDV GHVGH FDPD EDMD \ FDPD DOWD GHVGH
$ &
Ä Ä…
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?
ĹŠ3#1!#1 ĹŠÄĽ/.+#ÄŚ "#ĹŠ #33#+ĹŠ#-ĹŠ#+ĹŠ Â .
ĔŊ ĹŠ Ä› ;b f_beje I[# XWij_Wd L[jj[b" WYjkWb YWcf[ÂŒd ckdZ_Wb Z[ bW <ÂŒhckbW Kde" ikcÂŒ Wo[h ik YkWhjW Ăˆfeb[ fei_# j_edÉ Yedi[Ykj_lW fWhW H[Z 8kbb [d [b =hWd Fh[c_e Z[ 9^_dW" gk[ i[ Z_ifkjÂŒ [ijW cWZhk]WZW$ ;b feb[ d‘c[he '. [d bW YWhh[# hW Z[ L[jj[b o bW YkWhjW Yedi[Yk# j_lW [d kdW i[h_[ gk[ i[ h[cedjW W bW j[cfehWZW fWiWZW Z[`ÂŒ Wb Wb[c|d f[h\[YjWc[dj[ kX_YWZe fWhW Y[b[XhWh kdW gk_djW l_Yje# h_W Yedi[Ykj_lW o Yedl[hj_hi[ [d [b fh_c[h f_beje gk[ ]WdW Zei l[# Y[i [d 9^_dW$ ;b f_beje Z[ () W‹ei Zec_dÂŒ bWi fh_c[hWi Zei YWhh[hWi Z[ bW j[cfehWZW [d 7kijhWb_W o CWbW# i_W Z[iZ[ bW feb[ o ^W ikcWZe [b c|n_ce fei_Xb[ Z[ +& fkdjei$ ÆBe ^_Y_cei dk[lWc[dj[" f[he oe jhWje Z[ h[YehZWhc[ W c‡ c_ice o W c_ [gk_fe gk[ YWZW
l[p [i Z_\‡Y_b$ De \k[ i[dY_bbeÇ" Z_`e L[jj[b Z[ifkƒi Z[ be]hWh kd j_[cfe Z[ kd c_dkje o ))"-, i[# ]kdZei" l[dY_[dZe W 8kjjed feh kdWi YÂŒceZWi i_[j[ ZƒY_cWi$ M[XX[h" ik YecfW‹[he Z[ [gk_fe" ^WXh‡W ikf[hWZe bW fh_# c[hW i[i_ÂŒd Z[ YbWi_Ă’YWY_ÂŒd i_ ^kX_[i[ [iYe]_Ze d[kc|j_Yei XbWdZei fWhW ik ‘bj_ce _dj[dje" [d bk]Wh Z[ [b[]_h [b YWkY^e Zkhe [d kdW cW‹WdW \h‡W o dkXbWZW$ Æ9h[‡ gk[ j[d‡Wcei ikĂ’Y_[dj[ fWhW WlWdpWh$ :[ YkWbgk_[h \eh# cW" [ijWcei \k[hWÇ" Z_`e Yed kdW [nfh[i_ÂŒd iecXh‡W$ ;b `[\[ Z[b [gk_fe 9^h_ij_Wd >ehd[h h[YedeY_ÂŒ gk[ ^WX‡Wd Yec[j_Ze kd [hheh$ Æ>W i_Ze kd Z‡W d[\Wije fWhW CWha$ xb jkle Wb]kdei fheXb[# cWi [bƒYjh_Yei o ^kXe kd [deh# c[ [i\k[hpe fWhW j[d[h [b Wkje b_ijeÇ" Z_`e$
ēŊ #!;-(!.2Ŋ"#Ŋ #"Ŋ 4++Ŋ#,/4) -Ŋ#+Ŋ!.!'#Ŋ"#+Ŋ/(+.3.Ŋ +#,;-Ŋ+4#%.Ŋ"#Ŋ4 (Ĺ ! 12#Ŋ/1(,#1.Ŋ#-Ŋ+ Ŋ%1(++ Ŋ"#Ŋ/ 13(" ē
-Ŋ/4-3.Ŋ ,;2Ŋ/ 1 Ŋ #+Ŋ+~"#1 ēŊ _!-(!.Ŋ -(5#12(3 1(.Ŋ!.13¢Ŋ4- Ŋ1 !' Ŋ"#Ŋ31(4-$.2ĔŊ/#1.Ŋ2(%4#Ŋ#-Ŋ+ Ŋ/4-3 ē
_!-(!.Ŋ -(5#12(3 1(.Ŋ(%4 +¢Ŋ #-Ŋ24Ŋ5(2(3 Ŋ +Ŋ .! $4#13#ĔŊ #-Ŋ 4 8 04(+ēŊ
" +ĹŠ /4-3 ĹŠ ĹŠ24ĹŠ2_/3(,. 23#12ĹŠ#-ĹŠ .-3#! 1+. +ĹŠ3#-(23 ĹŠ#2/  .+ĹŠ $ #+ĹŠ " +ĔŊ,;7(,.ĹŠ$ 5.1(3.ĔŊ /4-3 ĹŠ/ 1 ĹŠ+.%1 1ĹŠ '.8ĹŠ24ĹŠ2_/3(,.ĹŠ 23#12ĹŠÄˆÄ‡Ä‡Ä‡ĹŠ"#ĹŠ .-3#! 1+.ĹŠ#-ĹŠ24ĹŠ! 11#1 ĹŠ8ĹŠ"#ĹŠ$.1, ĹŠ !.-2#!43(5 ĹŠ31 2ĹŠ 5 -9 1ĹŠ ĹŠ+ ĹŠÄƒ- +ĔŊ+4#%.ĹŠ"#ĹŠ5#-!#1ĹŠ +ĹŠ 1(3;-(!.ĹŠ -"8ĹŠ 411 8ēŊ +ĹŠ-ĂŒ,#1.ĹŠ4-.ĹŠ"#+ĹŠ1 -*(-%ĹŠ,4-"( +ĹŠ1(5 +(9 1;ĹŠ -3#ĹŠ24ĹŠ!.,/ Äą 31(.3 ĹŠ 5("ĹŠ #11#1Ä“
;b ĂˆHeZ_bbe He`eÉ ^_pe Wo[h Z[b HeYW\k[hj[ kdW ĂˆheYW#ZƒX_bÉ o b[ gk_jÂŒ fkdjei Wb _]kWbWh '#' [d [b [ijWZ_e 7b[`WdZhe FedY[ DeXeW Z[b Fk[hje Fh_dY_fWb$ ;b YkWZhe WcXWj[‹e bb[]ÂŒ W () fkdjei o i[ cWdj_[d[ Yece b‡# Z[h _dWcel_Xb[ Z[b jehd[e Z[ WiY[die Z[ bW I[h_[ 8" Ykcfb_ZW bW del[dW \[Y^W$ Bei ]kWoWgk_b[‹ei" feh ik fWhj[" Z[`Whed [b j[hY[h bk]Wh fehgk[ Yed bei '- fkdjei gk[ ikcWd \k[hed ikf[hWZei feh LWbb[ Z[b 9^ejW o" Z[ ]WdWh CW# YWh|" jWcX_ƒd feZh‡W bb[]Wh W '. kd_ZWZ[i$
;b [gk_fe Z[ 7]kij‡d :[b]WZe i[ lW c[j_[dZe [d bW f[b[W feh [b WiY[die Z[ W feYe$ BW deY^[ Z[b l_[hd[i l_i_jÂŒ W B_]W Z[ Fehjel_[# `e [d [b H[Wb[i JWcWh_dZei o i[ jhW`e kdW l_Yjeh_W Z[ (#'$ LWbb[ Z[b 9^ejW ikcW '. fkdjei o i[ kX_YW [d j[hY[hW fei_Y_ÂŒd$ BW Ăˆ9Wf_hWÉ" feh ik fWhj[" i[ gk[ZÂŒ Yed eY^e fkdjei o Z[ i[# ]k_h Yed [ijW YWcfW‹W feZh‡W YW[h W pedW Z[ Z[iY[die$ BW Kd_l[hi_ZWZ JƒYd_YW Z[ 9ejefWn_ KJ9 ^_pe Z[ beYWb [d [b [ijWZ_e 8[bbWl_ijW Z[ 7c# XWje [b l_[hd[i Wdj[ =h[Y_W$ ;b YWcX_e Z[ [iY[dWh_e" Wdj[
ĹŠ
.2ĹŠ)4#%.2 !.,/+#3 -ĹŠ'.8ĹŠ + ĹŠ).1- " Ĺ—ĹŠĹŠ #/.13(5.ĹŠ 4#5#".ĹŠ1#!( #ĹŠ ĹŠ -(Äą 5#12(" "ĹŠ 3¢+(! ĹŠ"#2"#ĹŠ+ 2ĹŠÄˆÄŽÄ–Ä‡Ä‡ĹŠ
"#ĹŠ'.8ĹŠ#-ĹŠ#+ĹŠ#23 "(.ĹŠÄ?ĹŠ"#ĹŠ !34 1#ēŊ
.2ĹŠÄĽ +4,(-#-2#2ÄŚĹŠ2 +#-ĹŠ. +(% ".2ĹŠ ĹŠ% - 1ĹŠ/ 1 ĹŠ2 +(1ĹŠ"#ĹŠ+ ĹŠ(-!¢,." ĹŠ /.2(!(¢-ĹŠ8ĹŠ!4 31.ĹŠ/4-3.2ĹŠ04#ĹŠ3(#-#-ēŊ ÄĽ 3¢+(! ČĔŊ!.-ĹŠÄˆÄ‘ĹŠ/4-3.2ĔŊŊ5 ĹŠ ĹŠ+ ĹŠ ! 9 ĹŠ"#+ĹŠ _!-(!.ĹŠ -(5#12(3 1(.Ä“ ! 1;ĹŠ(-3#-3 1;ĹŠ' !#12#ĹŠ"#ĹŠ+.2ĹŠ 31#2ĹŠ/4-3.2ĹŠ!4 -".ĹŠ"#2"#ĹŠ+ 2ĹŠÄˆÄˆÄ–ÄŠÄ‡ĹŠ 1#!( ĹŠ#-ĹŠ#+ĹŠ#23 "(.ĹŠ #++ 5(23 ĹŠ +ĹŠ (5#1ĹŠ + 3#ēŊ
bW ikif[di_Œd Z[b [ijWZ_e BW 9eY^W" b[i i[djŒ X_[d W bei bWjW# Ykd]k[‹ei" gk[ Z[hhejWhed W bei cWdWX_jWi )#($ BW KJ9 _]kWbŒ [d '& fkdjei W ik h_lWb Z[ 9^ed[$
4-3.ĹŠ04#ĹŠ 2 #ĹŠ ĹŠ3~34+.
ĹŠ
Ĺ? Ä ÄˆĹ?Ĺ? Ĺ?Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?ÄŒĹ?
1!#+.- ĹŠ24,¢Ŋ#-ĹŠ+ ĹŠ! 2 ĹŠ"#+ĹŠ "1("ēŊ -Äą 3(#-#ĹŠ.!'.ĹŠ/4-3.2ĹŠ"#ĹŠ"($#1#-!( ĹŠ8ĹŠ04#"¢Ŋ!#1! ĹŠ "#ĹŠ% - 1ĹŠ#+ĹŠ! ,/#.- 3.ĹŠ#-ĹŠ 2/  ēŊ h[cWj[ \k[ X_[d YedjhebWZe Z_e kd fWie ]_]Wdj[ ^WY_W kd j[h# feh [b Whgk[he L‡Yjeh LWbZƒi$ Y[h j‡jkbe Yedi[Ykj_le [d bW B_]W Z[ \‘jXeb Z[ ;ifW‹W Wb [cfW# #$#-2(5.ĹŠ jWh Wo[h '#' Yed [b H[Wb CWZh_Z" ;b [djh[dWZeh fehjk]kƒi @eiƒ cWdj[d_[dZe ik l[djW`W Z[ eY^e Cekh_d^e h[dkdY_ÂŒ Z[ [djhW# fkdjei ieXh[ ik jhWZ_Y_edWb h_lWb ZW W XkiYWh [b WhYe XbWk]hWdW o [d bW Y_cW Z[ bW jWXbW Yed i[_i Xb_dZÂŒ Yed kd ckhe [b WhYe Z[ ?a[h 9Wi_bbWi$ ;b Y[djhWb F[f[ fWhj_Zei feh `k]Wh$ ;d kd j[die Yb|i_Ye `k]WZe [d h[[cfbWpÂŒ Wb Yh[Wj_le C[ikj [b [ijWZ_e IWdj_W]e 8[hdWXƒk" [b Ep_b [d [b c[Z_eYWcfe" AWh_c fh_c[he Z[ bei YkWjhe [d\h[djW# 8[dp[cW WhhWdYÂŒ Yece ‘d_Ye c_[djei [djh[ WcXei [gk_fei [d ^ecXh[ Z[ fkdjW o [d ckY^Wi jh[i Yecf[j_Y_ed[i [d '. Z‡Wi" [b eYWi_ed[i [b YkWZhe c[h[d]k[ Wh][dj_de B_ed[b C[ii_ WdejÂŒ Z[ jkle W dk[l[ `k]WZeh[i Z[jh|i f[dWb W bei +) c_dkjei Z[ifkƒi Z[ bW b‡d[W Z[ bW f[bejW$ 7kdgk[ Z[ gk[ HW‘b 7bX_eb \k[hW [n# 9h_ij_Wde HedWbZe `k]ÂŒ Z[ [d# fkbiWZe feh kdW \WbjW [d [b |h[W jhWZW" bei Whj_bb[hei ;ccWdk[b ieXh[ :Wl_Z L_bbW$ ;b 8Wh‚W fW# 7Z[XWoeh o =edpWbe >_]kW‡d h[Y‡W [ijWh [dYWc_dWZe ^WY_W Yec[dpWhed [d bW XWdYW$ F[f =kWhZ_ebW" [d YWcX_e" kdW i[njW l_Yjeh_W Yedi[Ykj_lW Wdj[ [b CWZh_Z Z[ bW cWde Z[b fkie jeZW bW YWhd[ Wb WiWZeh jƒYd_Ye @ei[f =kWhZ_ebW" f[he Yed C[ii_ o L_bbW [d bW Z[bWd# [b |hX_jhe YeXhÂŒ kd ZkZeie f[# j[hW1 7dZhƒi ?d_[ijW o NWl_ >[hd|dZ[p [d [b Y[djhe dWb Z[ :Wd_ 7bl[i ieXh[ CWhY[be o 9h_ij_Wde He# ĹŠ Z[b YWcfe1 [ _dYbkie" [b YWf_j|d 9Whb[i Fkoeb [d dWbZe cWhYÂŒ [b '#'$ [b Y[djhe Z[ bW Z[\[diW" ;b [cfWj[ \k[ kd ]eb# ik fh_c[h fWhj_Ze [d f[ Wd‡c_Ye fWhW [b CW# .2ĹŠ2(%4(#-3#2ĹŠ #-$1#-3 ,(#-3.2ĹŠ Zh_Z o [b c[Z_eYWcf_ijW 2#1;-Ä–ĹŠ#+ĹŠ,(_1!.Äą Z[iZ[ [d[he jhWi h[Yk# +#2ĹŠ/.1ĹŠ+ ĹŠ$(- +ĹŠ"#ĹŠ f[hWhi[ Z[ kdW b[i_ÂŒd Wb[c|d IWc_ A^[Z_hW + ĹŠ ./ ĹŠ"#+ĹŠ #8ĹŠ8ĹŠ jkle kdW ]hWd efehjkd_# #+ŊĉÄ?ĹŠ"#ĹŠ 1(+ĹŠ8ĹŠÄŠĹŠ [d kdW heZ_bbW$ Fkoeb" "#ĹŠ, 8.ĹŠ/.1ĹŠ+ 2ĹŠ ZWZ fWhW ZWh [b jh_kd\e 2#,($(- +#2ĹŠ"#ĹŠ+ ĹŠ i_d [cXWh]e" WXWdZedÂŒ
(% ĹŠ"#ĹŠ [b [dYk[djhe feh kdW b[# Wb Yed`kdje beYWb [d [b ,/#.-#2Ä“ i_ÂŒd ckiYkbWh$ ‘bj_ce c_dkje" f[he ik
ĔŊ Ŋě ;b 8WhY[bedW
4 1"(.+ Ä–ĹŠÄĽ #-(1ĹŠ +ĹŠ #1- _4 8ĹŠ#,/ 3 1ĹŠ#2ĹŠ 4#-.ÄŚ Ĺ—ĹŠĹŠ
ŊěŊ +ĹŠ#-31#- ".1ĹŠ"#+ĹŠ 1!#+.- ĔŊ #/ĹŠ 4 1"(.+ ĔŊ, -345.ĹŠ#+ĹŠ3 Äą + -3#ĹŠ04#ĹŠ2(#,/1#ĹŠ,4#231 ĹŠ1#2/#!3.ĹŠ +ĹŠ # +ĹŠ "1("ĔŊ"().ĹŠ#23 1ĹŠ2 3(2$#!'.ĹŠ!.-ĹŠ #+ĹŠ#,/ 3#ĹŠ8ĹŠ1#!' 9¢Ŋ' + 1ĹŠ"#ĹŠ+ ĹŠ !34 !(¢-ĹŠ"#+ĹŠ;1 (31.ēŊ ĹŠÄĄ #-(1ĹŠ +ĹŠ #1- _4ĹŠ8ĹŠ#,/ 3 1ĹŠ#2ĹŠ4-ĹŠ,48ĹŠ 4#-ĹŠ1#24+3 ".ēŊ +ĹŠ "1("ĹŠ#2ĹŠ4-ĹŠ 2# .1ĹŠ#04(/.ēŊ .-ĹŠ#+ĹŠÄ‡ÄąÄˆĹŠ-.2ĹŠ$ +3¢Ŋ 42! 1ĹŠ4-ĹŠ/.!.ĹŠ,;2ĹŠ+ ĹŠ/.13#1~ ĹŠ"#ĹŠ 2(++ 2ēŊ #-(1ĹŠ 04~ĹŠ8ĹŠ-.ĹŠ/#1"#1ĹŠ#2ĹŠ,48ĹŠ 4#-.ĢĔŊ!.,#-3¢ēŊ
.41(-'.ĔŊļ#23.8ĹŠ! -2 ". "#ĹŠ)4% 1ĹŠ!.-ĹŠÄˆÄ‡ĹŠ'., 1#2ÄŚ ĹŠĹŠ .2_ĹŠ .41(-'.ĔŊ3_!-(!.ĹŠ"#+ĹŠ # +ĹŠ "1("ĔŊ2#ĹŠ04#)¢Ŋ"#+ĹŠ 1 (31 )#ĹŠ8ĹŠ"#ĹŠ+ ĹŠ Ĺ—#7/4+2(¢-ĹŠ"#ĹŠ + (.+Ä–ĹŠÄĄ ĹŠ2(".ĹŠ4-ĹŠ/ 13(".ĹŠ,48ĹŠ#04(+( 1 ".ĹŠ!4 -".ĹŠ#2345(,.2ĹŠ
.-!#ĹŠ!.-31 ĹŠ.-!#ēŊ 4#ĹŠ4-ĹŠ!'.04#ĹŠ/1./(.ĹŠ"#ĹŠ#04(/.2ĹŠ04#ĹŠ2#ĹŠ1#2/#3 -ĔŊ04#ĹŠ2 Äą #-ĹŠ04#ĹŠ#+ĹŠ1(5 +ĹŠ#2ĹŠ$4#13#ĹŠ8ĹŠ#2.ĹŠ'(9.ĹŠ04#ĹŠ-.ĹŠ'4 (#2#ĹŠ%1 -"#2ĹŠ./.134-(" "#2ĹŠ"#ĹŠ %.+ēŊ ĹŠ"#2/4_2ĔŊ!.,.ĹŠ/ 2 ĹŠ,4!'~2(, 2ĹŠ5#!#2ĔŊ-.2ĹŠ5(,.2ĹŠ!.-ĹŠ"(#9ĹŠ8ĹŠ#-3.-!#2ĹŠ $4#ĹŠ,(2(¢-ĹŠ! 2(ĹŠ(,/.2( +#Ģē ÄĄ +ĹŠ 1W ĹŠ#2ĹŠ#+ĹŠ,#).1ĹŠ"#+ĹŠ,4-".ĹŠ#-ĹŠ/.2#2(¢-ĹŠ"#+ĹŠ +¢-ēŊ .-ĹŠ.-!#ĹŠ!.-31 ĹŠ .-!#ĹŠ345.ĹŠ"(ă!4+3 "#2ēŊ .-ĹŠ.-!#ĹŠ!.-31 ĹŠ"(#9ĹŠ345.ĹŠ+ ĹŠ/.2( (+(" "ĹŠ"#ĹŠ' !#1ĹŠ+.ĹŠ 04#ĹŠ+#ĹŠ%423 ēŊ - ĹŠ5#9ĹŠ,;2ĔŊ+ ĹŠ"($#1#-!( ĹŠ"#ĹŠ!1(3#1(.ĹŠ$4#ĹŠ(-!1#~ +#ĹŠ/.104#ĹŠ-.ĹŠ #-3(#-".ĹŠ+ ĹŠ1 9¢-ĹŠ/.1ĹŠ+ ĹŠ04#ĹŠ +5#2ĹŠ-.ĹŠ5(.ĹŠ+ ĹŠ2#%4-" ĹŠ , 1(++ ēŊ (ĹŠ2#ĹŠ' !#ĹŠ#2 ĹŠ $ +3 ĹŠ ŊĎćŊ,#31.2ĹŠ8 ĹŠ#2ĹŠ3 1)#3 ĹŠ8ĹŠ2(ĹŠ2#ĹŠ' !#ĹŠ#-ĹŠ#+ĹŠ;1# ĔŊ,;2ēŊ +ĹŠ!4 13.ĹŠ;1 (31.ĹŠ ,#ĹŠ' ĹŠ"(!'.ĹŠ04#ĹŠ-.ĹŠ+#ĹŠ2 ! 1.-ĹŠ+ ĹŠ3 1)#3 ĹŠ/.104#ĹŠ#2ĹŠ4-ĹŠ"#$#-2 ĹŠ+ 3#1 +ĢĔŊ"().ĹŠ#+ĹŠ 3_!-(!.ĹŠ/.134%4_2ēŊ
Ĉ Ĉ
ēŊ #22(Ŋ -.3¢Ŋ"#Ŋ/#- +Ŋ/ 1 Ŋ#+Ŋ 1!#+.- ēŊ
ēŊ
ĊĈ1 ĹŠ).1- "
#24+3 ".2ĹŠ
; ".
;+ % ĹŠ #3 $#ĹŠ +,#1~ ĹŠ # +ĹŠ "1("ĹŠ
.,(-%.Ä–
ÄŠĹŠ ÄˆĹŠ ÄŠĹŠ ÄˆĹŠ
# +ĹŠ .!(#" "ĹŠ ĹŠ ĹŠ
#5 -3#Ŋ ēŊŊ"#Ŋ Ŋ .14 Ŋ Ŋ Ŋ 2 24- Ŋ Ŋ Ŋ 2/ -8.+Ŋ
4-#2
(++ 11# +ĹŠĹŠ
ĹŊ ćŊ ĹŊ ćŊ ĹŊ ćŊ ĹŊ ÄˆĹŠ
++.1! #5(++ ĹŠ +#-!( 1!#+.-
ĹŊ /.13(-%Ŋ"#Ŋ ()¢ĹŊ _1!4+#2 ĹŊ ēŊ"#Ŋ -3 -"#1 ĹŊ 3'+#3(!Ŋ"#Ŋ (+ . ĹŊ 3+_3(!.Ŋ"#Ŋ "1("
Ŋ ĹŊŊ 1 %.9
ēŊ .- +".Ŋ(%4 +¢Ŋ3 , (_-Ŋ"#Ŋ/#- +ēŊ
Ä Ä†
#!' ĹŠÄˆÄ‰
#5 -!' ĹŠ
+(-# !(.-#2
.1, !(.-#2
Ä Ä‡
Ĺ? Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?
+ĹŠ !(.- +ĹŠ 52ēŊ 4#-! Ä” !.-ĹŠ,4!' 2ĹŠ ) 2 :[iZ[ bWi '(0&& [d [b [ijWZ_e 7jW^kWbfW i[ [d\h[djWd ;b DW# Y_edWb o :[fehj_le 9k[dYW" Zei [gk_fei [d WiY[die" gk[ ^eo j[dZh|d Wb]kdWi Wki[dY_Wi feh b[i_ÂŒd o ikif[di_ÂŒd$ ;b ĂˆDWY^eÉ j_[d[ ikif[dZ_Ze W NWl_[h 9^_bW o b[i_edWZe W 9^h_i# j_Wd BWhW$ @kWd 9Whbei 7dW]edÂŒ o >k]e Lƒb[p i[h|d bei h[[cfbW# pei" h[if[Yj_lWc[dj[$ ;b Ăˆ9k[dYW" feh ik bWZe" i[ fh[i[djWh| [d Gk_je i_d 9Whbei 9Wijhe" :Wc_|d B[Z[icW o @kWd 9Whbei =eZeo$ Bk_i Ieb[h" jƒYd_Ye ĂˆCehbWYeÉ" jkle gk[ h[WhcWh bW
ĹŠ
ĹŠ ĹŠ
ēŊ
ĹŠ ĹŠ
ēŊ 1!~
ēŊ "1("
ēŊ ēŊ - -%.-¢ ēŊ 1 9. ēŊ ¢/#9 ēŊ (3 Ŋ ēŊ (!#". ēŊ _+#9 ēŊ 11
ēŊ ēŊ - -%.-¢ ēŊ 1#!( ".
ēŊ 1##1 ēŊ ¢/#9 ēŊ .'¢104#9 ēŊ -%;
ēŊ 15;#9 ēŊ .-9;+#9 ēŊ -"1 "# ēŊ + 1#9. ēŊ 1 5.
ēŊ ēŊ .5# ēŊ 4#11
Ä“ .,~-%4#9
ēŊ 4 %4 ēŊ (!#".Ŋ ēŊ .1#(1 ēŊ # 2!. ēŊ -!'.9. ēŊ"#Ŋ+ Ŋ 149 ēŊ 1143( Ŋ ēŊ .-9;+#9
ēŊ .+  .2Ŋ :ēŊ #"#2, Ŋ
ēŊ #1-;-"#9 ēŊ ++# ēŊ (9! ~-. ēŊ ¢,#9Ŋ ēŊ #¢ ēŊ 4( ¢-#9 :ēŊ (-.231.9 ēŊ #1 4"Ŋ ēŊ ' -%.
ēŊ"#ĹŠ #2ĂŒ2 ēŊ #-.1(.
Ä–ĹŠ 1(.ĹŠ 1 +#%4(
Ä–ĹŠ 4(2 .+#1
Ä–ĹŠ "% 1".ĹŠ 49
Ä–ĹŠ .,#1.ĹŠ +#-!(
.1 Ä–ĹŠÄˆÄ‰Ä–Ä‡Ä‡ :1 (31.Ä–ĹŠ .2_ĹŠ 1/(. 23 "(.Ä–ĹŠ 3 '4 +/ Ŋĸ 4(3.Äš 1 -2,(3#Ä–ĹŠ !4 5(2
pW]W fWhW kX_YWh W BÂŒf[p o 9Wd# ]| Yece ikij_jkjei$ Bei Ăˆ9h_ebbeiÉ ied YkWhjei Yed '. fkdjei$ Be ‘d_Ye gk[ b[ i[fW# hW Z[ ik h_lWb [i [b ]eb Z_\[h[dY_W oW gk[ bei ĂˆCehbWYeiÉ jWcX_ƒd ikcWd '.$
ĹŠ
.-Ŋ"#Ŋ + Ŋļ Č ēŊ .2Ŋ)4% ".1#2Ŋ4-(5#12(3 1(.2Ŋ!4(" -Ŋ "#Ŋ24Ŋ$.1, Ŋ$~2(! ē
.2ĹŠ#04(/.2ĹŠ4-(5#12(3 1(.2ĹŠ "#ĹŠ 4(3.ĹŠ8ĹŠ .) ĹŠ2#ĹŠ#-$1#-Äą 3 -ĹŠ'.8ĹŠ#-ĹŠ .-!( -.Ä“
ēŊ -ĹŠ#+ĹŠ!.,/+#).ĹŠ"#ĹŠ 4, !.ĔŊ 1(.ĹŠ 1 +#%4(ĔŊ3_!-(!.ĹŠÄĽ 1(.Äą ++.ÄŚĹŠ/+ -(ă!¢Ŋ#+ĹŠ#-!4#-31.Ä“
:k[be XbWdYe Z[iZ[ bWi ''0 )& Z[ ^eo$ Bei beYWb[i lWd W bW YWpW Z[ bei fkdj[hei" c_[djhWi gk[ bei l_i_jWdj[i b[ [iYWfWd W bW YebW Z[b jehd[e$ Kd fWhj_Ze gk[ oW j_[d[ Wdj[Y[Z[dj[i [ij[ W‹e o gk[ \k[ ]WdWZeh feh B_]W Z[ Gk_je" [d [b _d_Y_e Z[b Y[hjWc[d$
Bei Z[b ĂˆFWjÂŒdÉ 8WkpW lWd Yed be c[`eh gk[ Z_ifed[d$ ;ie de i_]d_Ă’YW gk[ [ijƒd Yecfb[# jei fehgk[ de [ijWh|d >[hd|d 8WhYei" MWbj[h 9WbZ[hÂŒd" ;dh_# gk[ L[hW o FW‘b 7cXheii_" feh Z_\[h[dj[i cej_lei$ BW ZkZW Z[b jƒYd_Ye Wh][d# j_de Wdj[ bW \WbjW Z[ Z[bWdj[hei
.1 Ä–ĹŠÄˆÄˆÄ–ÄŠÄ‡ 23 "(.Ä–ĹŠ Ŋĸ 4(3.Äš :1 (31.Ä–ĹŠ .2_ĹŠ 4(2ĹŠ 2/(-#+ 1 -2,(3#Ä–ĹŠ #+# , 9.- 2
ļ (#,/1# !.-3(%.ĔŊ (% Č ŊŊŊ Ŋ #% ! 1 5 - Ŋ"#Ŋ (% Ŋ ŗ #/.13(5 Ŋ -(5#12(3 1( Ŋ2#Ŋ!4,/+(1;Ŋ
'.8Ŋ/1#5(.Ŋ +Ŋ/ 13(".Ŋ#-Ŋ#+Ŋ#23 "(.Ŋ"#Ŋ + Ŋļ ČēŊŊ +Ŋ#5#-3.ĔŊ04#Ŋ- !(¢Ŋ#-Ŋ#+Ŋ  .Ŋ ĉćććĔŊŊ2 +"1;Ŋ"#2"#Ŋ!4 31.Ŋ/4-3.2Ŋ "#Ŋ+ Ŋ!(4" "ē +Ŋ241ĔŊ#-Ŋ#+Ŋ #-31.Ŋ .,#1!( +Ŋ +Ŋ 1#!1#.ĔŊ#-Ŋ#+Ŋ!#-31.ĔŊ#-Ŋ+ Ŋ + 9 Ŋ -Ĺ ". ,#1(! - ĔŊ +Ŋ-.13#ĔŊ#-Ŋ+ Ŋ 1( 4- Ŋ "#Ŋ .2Ŋ '81(2ĔŊ8Ŋ"#2"#Ŋ ., 204(ē
\k[ YkX_[hjW feh [b `kl[d_b Ă›d][b B[Z[icW$ 9ece kdW Wbj[hdWj_lW e\[di_lW [ijWh| [b WjWYWdj[ Z[ bW i[b[YY_ÂŒd ckdZ_Wb_ijW IkX '-" Bk_i 8Wj_e`W$ Bei be`Wdei" feh ik fWhj[" [ij|d Z[iZ[ Wo[h [d bW YWf_jWb [YkWjeh_WdW$ Bei Z_h_]_Zei feh >ec[he C_ijhWb LWb[dY_W _dj[djWh|d ikcWh [d kd [i# jWZ_e _cXWj_Xb[ fWhW ckY^ei h_lWb[i$ B_]W Z[ Be`W i[ kX_YW [d del[# dW fei_Y_ÂŒd Yed '* fkdjei$
+ĹŠÄĽ ++(3.ÄŚĹŠ! -3¢Ŋ$4#1 ĹŠ"#ĹŠ24ĹŠ/ 3(. :[if[hjÂŒ$ 9kWdZe i[ ^Wd `k]WZe '( \[Y^Wi" ;ifeb_ Z[ceijhÂŒ gk[ fk[Z[ ]WdWh \k[hW Z[ ik fWj_e o Wo[h be ^_pe '#& Wdj[ [b CWdjW [d [b [ijWZ_e @eYWo$ ;b ]eb bb[]ÂŒ Wb c_dkje +' feh _dj[hc[Z_e Z[ HWc_he C[`‡W" Z[ifkƒi Z[ kdW Xk[dW `k]WZW Z[ ?l[i Gk_djWdW$ 9ed [ij[ h[ikbjWZe" [b Ăˆ=Wbb_# jeÉ iWb[ Z[ bW pedW Z[ Z[iY[die o fWiW Wb ZƒY_ce bk]Wh Yed dk[l[ fkdjei$ Bei Ăˆ7jkd[heiÉ" feh ik bWZe" i[ cWdj_[d[ eYjWlei Yed '+ kd_ZWZ[i$ ;b fWhj_Ze \k[ Xk[de fWhW bei Z_h_]_Zei feh IWdj_W]e EijebWpW$ BW cej_lWY_ÂŒd YWcX_ÂŒ o \k[ Z_\[h[dj[ W bWi eY^e Z[hhe# jWi Wdj[h_eh[i gk[ jkl_[hed$ Fk# Z_[hed WbYWdpWh ejhe ]eb" f[he de Z[Ă’d_[hed [d [b cec[dje `kije$ ;b [gk_fe Z_h_]_Ze feh =WXh_[b F[hhed[ YWoÂŒ [d ik fhef_e `k[]e o de fkZe Z[iY_\hWh bW ehZ[dW# ZW Z[\[diW l_i_jWdj[$ EYWi_ed[i jkle" f[he i[ Z[`ÂŒ l[dY[h feh kd [gk_fe kh]_Ze Z[ h[ikbjWZei Yece ;ifeb_$
ēŊ
Ĉ ć
ēŊ
+Ŋļ -(3#"ČŊ"#Ŋ +#-!( 2#Ŋ"#2/("(¢Ŋ"#Ŋ+ Ŋ Ŋ
ć Ĉ
ēŊ 2/.+(Ŋ!.-2(%4(¢Ŋ 8#1Ŋ+ Ŋ2#%4-" Ŋ5(!3.1( Ŋ"#+Ŋ3.1-#.ē
ĹŠ +ĹŠ -!'#23#1ĹŠ -(3#"ĔŊ".-"#ĹŠ)4#% ĹŠ#+ĹŠ#!4 3.1( -.ĹŠ 4(2ĹŠ +#-!( ĔŊ2#ĹŠ "#2/("(¢Ŋ 8#1ĹŠ"#ĹŠ+ ĹŠ ĹŠ 4/ĹŠ"#ĹŠ -%+ 3#11 ĔŊ31 2ĹŠ! #1ĹŠ#-ĹŠ+ 2ĹŠ2#,(ă- +#2ĹŠ ÄˆÄąÄ‡Ä”ĹŠ -3#ĹŠ4-.ĹŠ"#ĹŠ242ĹŠ !_11(,.2ĹŠ1(5 +#2ĔŊ#+ĹŠ -!'#23#1ĹŠ (38ēŊ .41#ĹŠ 8 ĹŠ/#1$.1¢Ŋ+ 2ĹŠ1#"#2ĹŠ +ĹŠ,(-43.ŊĎĉē
11 -!¢Ŋ#+Ŋ! ,/#.- 3.Ŋ "#Ŋ+ Ŋ2#%4-" Ŋ! 3#%.1~
.2ĹŠ#04(/.2ĹŠ"#ĹŠ2#%4-" ĹŠ! 3#%.Äą 1~ ĹŠ"#ĹŠ+ ĹŠ/1.5(-!( ĹŠ(-(!( 1.-ĹŠ 8#1ĹŠ + ĹŠ !3(5(" "ĹŠ"#ĹŠ#23#ĹŠ  .Ä“ <k[hed i_[j[ bei [gk_fei Z[ Jkd# ]khW^kW gk[ i[ Z_[hed Y_jW [d [b [ijWZ_e 8[bbWl_ijW fWhW i[h fWhj[ Z[ bW _dWk]khWY_ÂŒd Z[b 9Wcf[e# dWje Z[ bW I[]kdZW 9Wj[]eh‡W$ BWi XWhhWi Z[ bei fbWdj[b[i0 B[ed 9Whh" Cki^kY HkdW" F[b_# b[e Ifhj_d] 9bkX " Jkd]khW^kW" ;b =beXe" 7cƒh_YW o 8eb‡lWh" ceijhWhed [b Wfeoe _dYedZ_Y_e# dWb W ik [gk_fe \Wleh_je" Yed iki c[`eh[i Z[i[ei [d bWi '* \[Y^Wi
Z[ `k[]e gk[ j[dZh| bW [jWfW$ BW X[bb[pW de fkZe \WbjWh [d [b [dYk[djhe Z[fehj_le" [b_]_[dZe W bWi Z_]d_ZWZ[i Z[ :[fehj[i o 7ie <‘jXeb gk[ h[YWo[hed [d :Wd_[b Ceb_dW o Ieb[ZWZ Bb[h[dW" h[i# f[Yj_lWc[dj[$ F[i[ W gk[ ^kX_[hed _dYedl[# d_[dj[i Wb cec[dje Z[ h[Wb_pWh bei Yej[`ei fh[l_ijei fWhW bW fh_# c[hW \[Y^W" feh bW fh[i[djWY_Œd Z[ bei ZeYkc[djei W Z[ij_[cfe"
;b =beXe o B[ÂŒd 9Whh Z[ F[b_b[e `k]Whed kd Wc_ijeie gk[ Z[`ÂŒ Yece h[ikbjWZe" Zei W kde W \W# leh Z[b fbWdj[b f[b_b[‹e$ ;d YWcX_e [b [dYk[djhe [djh[ [b 7cƒh_YW o Cki^kY HkdW \k[ [b ‘d_Ye fWhj_Ze eĂ’ Y_Wb Yed [b gk[ WhhWdYÂŒ [b YWcf[edWje Z[ \‘jXeb fhel_dY_Wb" Z[`WdZe kd h[ikbjW# Zei Z[ jh[i feh kde W \Wleh Z[ bei Yeef[hWj_l_ijWi" gk[ Z_[hed ]k[# hhW [d [b YWcfe Z[ `k[]e$ >eo [d [b [ijWZ_e Ăˆ9k_ZWZ 7pkbÉ Z[b YWdjÂŒd F[b_b[e i[ [d# YedjhWh|d [d bW YWdY^W [b 8eb‡# lWh o F[b_b[e Ifehj_d] 9bkX" fWhW Ykcfb_h ik \[Y^W YWb[dZWh_ei W fWhj_h Z[ bWi '*0&&$
Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ä Ä
ēŊ .2Ŋ 3+#3 2Ŋ"(#1.-Ŋ3.".Ŋ/.1Ŋ.!4/ 1Ŋ+.2Ŋ,#).1#2Ŋ+4% 1#2ĔŊ$4#Ŋ #+Ŋ! 2.Ŋ"#Ŋ 4(2Ŋ 8 -!'(ĄŊ ē
- ĹŠ!.,/#3#-!( ĹŠ ĹŠ3." ĹŠ5#+.!(" " )&& \k[hed bei Wjb[jWi fWhj_Y_# fWdj[i [d bW eYjWlW Yecf[j[d# Y_W eh]Wd_pWZW feh [b Yeb[]_e Ij[f^[d >Wma_d]" Yece fWhj[ Z[ bWi Ă’ [ijWi Wd_l[hiWh_Wi Bei Yecf[j_Zeh[i Z[ Z_\[h[dj[i _dij_jkY_ed[i gk[ [ijkl_[hed [d bW f_ijW Z[ bW Wl[d_ZW Bei =kWojWcXei" fWhj_Y_fWhed [d bWi YWj[]eh‡Wi @kl[d_b" I[d_eh o CWij[h$ Eh]Wd_pWZeh[i Z[ bW YWhh[hW cWd_\[ijWhed gk[ [ijW [i bW _d_# Y_Wj_lW fWhW gk[ bei `ÂŒl[d[i i[
ēŊ -(#+ ĹŠ .+(- Ŋĸ$.3.ĚĔŊ2# .1(3 ĹŠ #/.13#2ĹŠ8ĹŠ .+#" "ĹŠ +#1#- ĔŊ2# .1(3 ĹŠ 2.ĹŠ ĂŒ3 .+ĔŊ$4#1.-ĹŠ+ 2ĹŠ1#/1#2#-3 -3#2ĹŠ"#ĹŠ + ĹŠ #++#9 ĹŠ"#/.13(5 Ä“
04(3.ĹŠ,.3.12
\ehc[d" de iebWc[dj[ Z[ cW# d[hW _dj[b[YjkWb" i_de Z[fehj_lW fWhW Z[iYkXh_h W bei jWb[djei gk[ feZh|d i[h Yedi_Z[hWZei fWhW [b Z[fehj[ fhel_dY_Wb$ CkY^ei Z[ bei `ÂŒl[d[i ^W# XbWhed Z[ be gk[ i_]d_Ă’ YW [ijW [nf[h_[dY_W" fk[i [i fWhj[ Z[b jhWXW`e gk[ gk_[h[d h[Wb_pWh [d f_ijWi fhe\[i_edWb[i$ Ejhei [d YWcX_e Wi[]khWhed gk[ bei ^WY[d Yece kdW WYj_l_# ZWZ h[Yh[Wj_lW o gk[ Z[X[ i[]k_h fheckb]|dZei[$
ÄŻÄƒÄ Ä‚ĂžĂť
Ä Ä‚
Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
-ĹŠ#,/ 3#ĹŠ04#ĹŠ'(9.ĹŠ5( 1 1
+ĹŠ!4 "1.ĹŠ4-(5#12(3 1(.ĹŠ/4".ĹŠ31 #1Äą 2#ĹŠ+.2ĹŠ31#2ĹŠ/4-3.2ĹŠ"#ĹŠ 4 8 04(+ĹŠ"#ĹŠ -.ĹŠ2#1ĹŠ/.1ĹŠ+ ĹŠ$ +3 ĹŠ"#ĹŠ/4-3#1~ Ä“ @kWd Z[ JƒYd_Ye o 9Whbei Z[ He# YW\k[hj[" \k[hed f_[pWi _cfehjWd# j[i fWhW [l_jWh bWi WdejWY_ed[i" ;b YWbeh WpejWXW W bei `k]WZeh[i Z[ bei Zei fbWdj[b[i Z[ifkƒi Z[ bei )& c_dkjei Z[ `k[]e" [cf[pWdZe W dejWhi[ kdW YbWhW Z[X_b_ZWZ [d bW jƒYd_YW e\[di_lW Z[b ĂˆHeZ_bbeÉ$ OW [d bei ‘bj_cei c_dkjei Z[ bW fh_c[hW [jWfW i[ fheZk`[hed jh[i eYWi_ed[i YbWhWi Z[ ]eb" f[he dWZW feZ‡W YWcX_Wh [b [cfWj[ Z[ Y[he Yed [b gk[ bei [gk_fei j[hc_dWhed bW fh_c[hW \Wi[ Z[b `k[]e$ #%4-".ĹŠ3(#,/.
BW fWhj[ Yecfb[c[djWh_W Z[b Ye# j[`e _d_Y_Œ Yed [b Zec_d_e Z[b XW#
ēŊ -Ŋ4-Ŋ"(2/43 ".Ŋ)4#%.Ŋ#+Ŋ _!-(!.Ŋ -(5#12(3 1(.Ŋ8Ŋ .! $4#13#Ŋ2#Ŋ"(5("(#1.-Ŋ'.-.1#2Ŋ#-Ŋ 4 8 04(+ē
bŒd [d bei f_[i Z[ bei `k]WZeh[i Z[b JƒYd_Ye Kd_l[hi_jWh_e" i_d [cXWh# ]e [b fbWdj[b ]kWoWgk_b[‹e de Z_e jh[]kW [d d_d]‘d cec[dje$
BW Z[\[diW kd_l[hi_jWh_W de fkZe cWdj[d[h [b XWbÂŒd [d ik YWcfe" fheZkY_ƒdZei[ [b fh_# c[h jWdje W bei jh[i c_dkjei Z[ bW fWhj[ Yecfb[c[djWh‡W" Z[ bei f_[i Z[ :Wdo BkdW W \Wleh Z[ bei Y[c[dj[hei$ 9ed kd ĂˆYW‹edWpeÉ Z[ MWb# Z[cWh 7YeijW W bei '+ c_dkjei i[ [cfWh[`ÂŒ [b h[ikbjWZe" ZWd# Ze kdW lep Z[ Wb_[dje W bei Wc# XWj[‹ei$ FW‘b Lƒb[p ^_pe bW fh_c[hW lWh_Wdj[ Z[`WdZe W 7b[n_i FWbW# Y_ei [d bW YWdY^W W YWcX_e Z[b `kl[d_b FWjh_Y_e Pkh_jW gk[ de \k[ [b Wfehj[ gk[ i[ [if[hWXW$ BW _dj[di_ZWZ Z[ `k[]e ikX_ÂŒ YkWdZe bei `k]WZeh[i Z[b HeYW# \k[hj[ XkiYWXWd [b WhYe kd_l[h# i_jWh_e Z[ cWd[hW YedijWdj[" be
gk[ eXb_]ÂŒ W JƒYd_Ye W fed[h bW i[]kdZW lWh_Wdj[ gk[ \ehjWb[# Y_ÂŒ bW Z[\[diW" YebeYWdZe W H_# Y^WhZ Gk_‹Œd[p feh 9h_ij_|d [b Ăˆ9ehY^eÉ 9ehZ[he$ 7 bei .& c_dkjei Z[ `k[# ]e MWbZ[cWh 7YeijW iWb_ÂŒ Z[b YWcfe cko W]ejWZe" f[he [d ik bk]Wh i[ gk[ZÂŒ Ă›d][b Fk# j|d Yece bW j[hY[hW lWh_Wdj[ o [b c[`eh h[\k[hpe fWhW cWhYWh" Wkdgk[ de i[ fkZe Wkc[djWh [b cWhYWZeh" W \Wleh Z[b fbWdj[b WcXWj[‹e" be gk[ b[ i_]d_Ă’ Ye ikcWh kd fkdje Z[ jh[i$ ;b ĂˆHeZ_bbeÉ ikcÂŒ () fkd# jei o c|i Z_[p Z[ ]eb Z_\[h[d# Y_W" cWdj[d_[dZe bW fkdjW o ik YedZ_Y_ÂŒd Z[ _dl_Yje [d bW fh_c[hW YWj[]eh‡W 8 Z[b \‘jXeb [YkWjeh_Wde$
Bei c[`eh[i Wjb[jWi Z[b >_ifW# de 7cƒh_YW" @kWd <hWdY_iYe CedjWble o H[_dWbZe C_‹e fWhj_Y_fWhed [d bW YWhh[hW Wjbƒ# j_YW eh]Wd_pWZW feh [b 9bkX Z[ :[fehj[i Z[b ?dij_jkje JƒYd_Ye Ikf[h_eh =kWoWgk_b" W fhefŒi_# je Z[ iki +- W‹ei Z[ \kdZWY_Œd _dij_jkY_edWb$ ;ij[ [i [b gk_dje W‹e Yedi[# Ykj_le gk[ i[ h[Wb_pW bW WYj_l_# ZWZ Z[fehj_lW [d bW YWj[]eh‡W `kl[d_b" ZedZ[ fWhj_Y_fWhed .,& [ijkZ_Wdj[i" jWdje [d ZW#
cWi Yece lWhed[i$ Hec[b Hec[he" ZeY[dj[ Z[b |h[W Z[ YkbjkhW \‡i_YW" cWd_\[i# jŒ ik W]hWZe fehgk[ W‹e W W‹e i[ _dYh[c[djW [b _dj[hƒi Z[ bei Z[fehj_ijWi `kl[d_b[i" gk_[d[i i_hl[d Z[ h[\[h[dj[ fWhW bW Y_k# ZWZ o bW fhel_dY_W$ 7Z[c|i" i[ h[YedeY_Œ bW bW# Xeh Z[ bWi Yeef[hWj_lWi EiYki" IWd <hWdY_iYe o 9|cWhW Z[ 9e# c[hY_e" fehgk[ WfeoWhed [ijW WYY_Œd Yece fWhj[ Z[ bW \ehcW# Y_Œd Z[ bei [ijkZ_Wdj[i$
.2ĹŠ! ,/#.-#2ĹŠ $4#1.-ĹŠ ĹŠ+ ĹŠ/(23
/-.+&
9ed kdW j[cf[hWjkhW ieXh[ bei )( ]hWZei Y[dj‡]hWZei i[ Ykc# fb_Œ Wo[h [b fWhj_Ze [djh[ JƒYd_Ye Kd_l[hi_jWh_e o HeYW\k[hj[" [d [b [ijWZ_e 7b[`WdZhe FedY[ DeXeW Z[ =kWoWgk_b" ZedZ[ [b [gk_fe WcXWj[‹e be]hŒ [cfWjWh W kd ]eb feh XWdZe$ :[iZ[ gk[ iedŒ [b i_bXWje Z[ _d_Y_e bei [gk_fei ceijhWhed kdW WYj_jkZ e\[di_lW [d [b YWcfe Z[ `k[]e" ^WY_[dZe _dj[h[iWdj[ [b fWhj_Ze$ BWi efehjkd_ZWZ[i Z[ WdejWh i[ l_[hed [cfWh[`WZWi jWdje [d j_hei Z_h[Yjei W bWi fehj[h‡Wi Yece bei j_hei Z[ [igk_dW$ BWi cWdei Z[ bei Ceb_dW
ēŊ #5(-Ŋ 2! -.ĔŊ .1%#Ŋ:+5 1#9Ŋ8Ŋ .- 3' -Ŋ .-9;+#2ĔŊ.!4/ 1.-Ŋ #+Ŋ2#%4-".ĔŊ/1(,#1.Ŋ8Ŋ3#1!#1Ŋ+4% 1Ŋ"#Ŋ242Ŋ! 3#%.1~ ē
Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ä Äƒ
. -ĹŠ".,(!(+(.ĹŠ #-ĹŠ 4#13.ĹŠ 1341.
Ĺ—ĹŠĹŠĹŠ
. ,)(Ĺ‹ Ĺ‹/(Ĺ‹$)0 (Ĺ‹ Ĺ‹., -Ĺ‹ */˜ & -Ĺ‹&/ !)Ĺ‹ Ĺ‹/(Ĺ‹ #& ēŊ -ĹŠ+ 2ĹŠ $4#1 2ĹŠ"#ĹŠ+ ĹŠ,.1%4#ĔŊ+.2ĹŠ$ ,(+( 1#2ĹŠ"#ĹŠ '.- 3 -ĹŠ#2/#1 -ĹŠ04#ĹŠ!4+,(-#ĹŠ+ ĹŠ-#!1./2( ĹŠ/ 1 ĹŠ1#3(1 1ĹŠ#+ĹŠ!4#1/.ĹŠ8ĹŠ 1(-" 1+#ĹŠ!1(23( - ĹŠ2#/4+341 Ä“
C_[cXhei Z[b 9k[hfe Z[ 8ecX[hei 7cXWje" jhWi# bWZWhed W @kb_W D$" Z[ +, W‹ei" Wb >eif_jWb :eY[dj[ 7cXWje" bk[]e gk[ ik\h_[# hW kdW WfWhWjeiW YW‡ZW [d [b Ebb[he" ikX_ZW W F_dbbe" Wo[h W bWi ''0*&$ 7b WfWh[Y[h [ijW ck`[h Z[ Yedj[njkhW ]hk[iW h[iXWbŒ [d bW ]hWZW o ik\h_Œ kd b[l[ Yehj[ [d bW YWX[pW$
+3¢Ŋ1#2%4 1".Ŋ /.+(!( + ŗŊŊ
4(#-#2ĹŠ#2345(#1.-ĹŠ#-ĹŠ#+ĹŠ ÄĽ .-!(#13.ĹŠ -$#1- +ÄŚĹŠ, -($#23 1.-ĹŠ 04#ĹŠ#+ĹŠ1#2%4 1".ĹŠ/.+(!( +ĹŠ-.ĹŠ$4#ĹŠ24ÄƒÄą !(#-3#ĹŠ/ 1 ĹŠ+ 2ĹŠ!#1! ĹŠ"#ĹŠ,(+ĹŠ/#12.- 2ĹŠ 04#ĹŠ ++~ĹŠ#2345(#1.-Ä“ -31#ĹŠ3 -3.ĔŊ/#12.- 2ĹŠ04#ĹŠ /1#ă1(#1.-ĹŠ#+ĹŠ -.-(, 3.ĔŊ#7/+(! 1.-ĹŠ 04#ĹŠ+.2ĹŠ(-!.-5#-(#-3#2ĹŠ241%(#1.-ĹŠ/.1ĹŠ #+ĹŠ#7!#2(5.ĹŠ!.-24,.ĹŠ"#ĹŠ+(!.1ĔŊ04#ĹŠ#1 ĹŠ "#ĹŠ#2/#1 12#Ä“
hed [d [b ik[be" Ăˆc[ _dj[djWhed Wfk‹WbWh f[he oe c[ [igk_l[" i[dj‡ gk[ Wb]k_[d c[ be]hÂŒ iWYWh Z[ ZedZ[ c[ ]ebf[WXWd o eXi[h# l[ W c_ ^[hcWde @^edWjWd iWd# ]hWdZe [d [b ik[be$ H[Yk[hZe YbWhWc[dj[ gk[ oe b[ WXhWY[ W c_ ĂˆXheÉ c[ Z_`e ĂˆjhWd# gk_be de fWiW dWZWÉ" c_[djhWi be bb[lWXWd Wb >eif_jWb :eY[dj[ 7cXWje [d kdW fWjhkbbW Z[ bW Feb_Y‡W" fehgk[ W c_ jWcX_ƒd c[
#!+43 ,(#-3.ĹŠ ,(+(3 1
Ĺ—ĹŠĹŠĹŠ
ēŊ 4(2 Ŋ #1!';-ĔŊ, "1#Ŋ"#+Ŋ).5#-Ŋ 2#2(- ".ĔŊ#2/#1 Ŋ04#Ŋ2#Ŋ' % Ŋ )423(!( Ŋ#-Ŋ#23#Ŋ! 2.ē
bb[lWhed W Yei[hc[ bW Y[`W ZedZ[ h[Y_X‡ kdW f[ZhWZW$ Æ7 bW ^ehW gk[ \k[ _d]h[iWZe c_ ^[hcWde" c[ Wl_iWhed gk[ ckh_ÂŒ" oe de fkZ[ ^WY[h dWZW feh ƒb" e`WbW gk[ bW Feb_Y‡W fk[ZW YWfjkhWh W [iei Wi[i_deiÇ" Z_`e @W_c[$ Bk_iW C[hY^|d" cWZh[ Z[ @^e# dWjWd" ieijkle gk[ ƒb iWb_ÂŒ Z[ ik YWiW W bWi ('0&&" Æoe b[ bbWc[ W bWi &&0)& o c[ Z_`e gk[ fhedje ikX_#
(),Ĺ‹) -#)(šŋ # (. :ei f[hiedWi ^[h_ZWi o jh[i l[^‡Ykbei Yed i[l[hei ZW‹ei cWj[h_Wb[i" [i [b h[ikbjWZe Z[ bW _cfhkZ[dY_W Z[ @eiƒ D$" Z[ ', W‹ei" gk_[d de fei[[ b_Y[dY_W o jWcfeYe h[if[jÂŒ bW bkp he`W Z[b i[c|\ehe kX_YWZe [d bWi Wl[d_# ZWi Bei ?dYWi o F_Y^_dY^W" Wo[h W bWi '+0)&$ I[]‘d 9ƒiWh 9Wc_de" j[ij_]e" @eiƒ D$" gk_[d cWd[`WXW [b l[^‡# Ykbe Yed fbWYW J9M#(&-" i[ fWiÂŒ [b i[c|\ehe [d he`e o Y^eYÂŒ Yed# jhW [b @[[f Yed fbWYW FOK#**+" gk[ cWd[`WXW 7dZh[W D$ o ikX‡W feh bW F_Y^_dY^W ZedZ[" feh bW \k[hpW Z[b ]ebf[ ]_hÂŒ [d K" fWhW
(.+#-3 ĹŠ! ~" ĹŠ #-ĹŠ#+ĹŠ ++#1.
Ĺ—ĹŠĹŠĹŠ
4ĹŠ'#1, -.ĹŠ, 8.1ĹŠ3 , (_-ĹŠ$4#ĹŠ 143 +Äą ,#-3#ĹŠ%.+/# ".ĹŠ#-ĹŠ#+ĹŠ1.231.ĹŠ8ĹŠ2#ĹŠ2 +5¢Ŋ "#ĹŠ2#1ĹŠ !4!'(++ ".ĹŠ"41 -3#ĹŠ+ ĹŠ/#+# Ä“ ÆOe [ijWXW Yedl[hiWdZe Yed kdWi Wc_]Wi" Z[ fhedje l_de kd j_fe W _dikbjWhc[ o W W]h[Z_h# c[ \‡i_YWc[dj[" oe c[ Z[\[dZ‡" f[he bei Wc_]ei Z[ ƒb o bei c‡ei dei i[fWhWhed" WfWh[dj[c[dj[ jeZe j[hc_dÂŒ1 Wb feYe j_[cfe dei YWoÂŒ kdW bbkl_W Z[ f_[ZhWi" W^‡ [cf[pÂŒ bW jhW][Z_WÇ" [ijWi ied bWi fWbWXhWi Z[ @W_c[ 7hcWdZe C[hY^|d" Z[ (& W‹ei" gk_[d h[# bWjÂŒ YÂŒce cWjWhed W ik ^[hcWde @^edWjWd ?ihW[b C[hY^|d" Z[ '. W‹ei" bW cWZhk]WZW Z[ Wo[h [d 7jeY^W$ Deiejhei iWb_cei Wb Ăˆ9edY_[hje ?d\[hdWbÉ Z[ c‘i_YW fefkbWh" gk[ i[ h[Wb_pÂŒ bW deY^[ Z[b l_[hd[i Wdj[h_eh [d 7jeY^W" [d be f[hie# dWb W c_ de c[ ]kijW [iW c‘i_YW #_dZ_YÂŒ 7hcWdZe Ă„ f[he c_ ^[h# cWde c[ _di_ij_ÂŒ o Ăˆdei f[]Wcei kd fWh Z[ jhW]eiÉ$ :[ fhedje" \k_ W]h[Z_Ze o bk[# ]e Z[ gk[ dei YWo[hWd bWi f_[ZhWi bb[]Whed kdei j_fei Z_Y_[dZe gk[ ied Z[ kdW fWdZ_bbW Z[dec_dWZW ĂˆBei 8Wjei D[]heiÉ o c[ ]ebf[W#
H[\h_][hWZehW" c_Yhe# edZWi" ]hWXWZehW" jWdgk[ Z[ ]Wi o kd fWh Z[ Yehj_dWi \k[hed heXWZei Z[ bW l_# l_[dZW kX_YWZW [d [b XWhh_e 9[djhe" f[hj[d[Y_[dj[ W Fk[hje 7hjkhe" Z[ fhef_[# ZWZ Z[ >ƒYjeh Lƒb[p$ C_[cXhei Z[ bW Kd_ZWZ Z[ 9h_c_dWb‡ij_YW Z[ bW Feb_Y‡W @kZ_Y_Wb Z[ Jkd]khW^kW" bb[]Whed Wb bk]Wh W h[YWXWh fhk[XWi gk[ f[hc_jWd Z[# j[hc_dWh [b fWhWZ[he Z[ bei ^Wcfed[i" i_d gk[ ^WijW [b cec[dje ^WoW cWoeh[i Z[jWbb[i Z[ ik kX_YWY_Œd$
i[h _cfWYjWZe feh bW YWc_ed[jW Yed fbWYW F9D#'-/ gk[ XW`WXW feh bW c_icW Wl[d_ZW$ FheZkYje Z[b WYY_Z[dj[ 7d# Zh[W D$" `kdje W ik ^_`e Z[ '& W‹ei" h[ikbjWhed ^[h_Zei o \k[# hed bb[lWZei Wb >eif_jWb :eY[dj[ 7cXWje" fWhW gk[ h[Y_XWd Wj[d# Y_ÂŒd cƒZ_YW$ C_[cXhei Z[b I[hl_Y_e Z[ ?dl[ij_]WY_ÂŒd Z[ 7YY_Z[dj[i Z[ Jh|di_je I?7J " bb[]Whed Wb bk]Wh ēŊ .2ĹŠ5#'~!4+.2ĹŠ04#" 1.-ĹŠ fWhW h[Wb_pWh [b f[h_jW`[ h[if[Y# !.-ĹŠ2#1(.2ĹŠ"  .2ĹŠ8ĹŠ$4#1.-ĹŠ++#5 ".2ĹŠ +ĹŠ j_le o Z[j[hc_dWh h[ifediWX_b_# / 3(.ĹŠ"#ĹŠ1#3#-!(¢-Ä“ ZWZ[i" c_[djhWi gk[ @eiƒ" gk_[d [ijWXW l_i_Xb[c[dj[ WikijWZe \k[ bei ^[Y^ei fh[l_e W ik Z[j[dY_ÂŒd bb[lWZe W gk[ h_dZW ik l[hi_ÂŒd Z[ fWhW _dl[ij_]WY_ed[i$
h‡W1 YeiW gk[ dkdYW ikY[Z_ÂŒ feh# gk[ c[ [dj[hƒ gk[ be cWjWhed [d [b XW_b[" [if[he gk[ [ij[ ^[Y^e de gk[Z[ [d bW _cfkd_ZWZ" e`WbW bW Feb_Y‡W YWfjkh[ W [iei Z[b_dYk[d# j[iÇ" i[‹WbÂŒ$ Bk_iW [d c[Z_e Z[b Zebeh _dZ_# YÂŒ gk[ ik ^_`e i[h| [dj[hhWZe [d [b Y[c[dj[h_e Z[ F_YW_^kW" [bbW fedZh| bW Z[dkdY_W fWhW gk[ i[ _dl[ij_]k[ [ij[ bWc[djWXb[ ikY[# ie$
7 fWhj_h Z[ bWi &/0&& Z[ Wo[h" Z[Y[dWi Z[ `Œl[d[i i[ h[kd_[hed [d bWi W\k[# hWi Z[b ?dij_jkje Ikf[h_eh 8eb‡lWh Z[ >kWY^_ FWjW fWhW h[dZ_h bWi fhk[XWi \‡i_YWi" fh[l_e W ik _d]h[ie Wb i[hl_Y_e c_b_jWh$ Bei fWZh[i Z[ bei `Œl[d[i Wif_hWdj[i b[i ZWXWd |d_ce fWhW gk[ ikf[h[d bWi fhk[# XWi1 f[he jWcX_ƒd [b jh|\_Ye l[^_YkbWh feh [b i[Yjeh \k[ eXijWYkb_pWZe feh [b Wbje d‘c[he Z[ f[hiedWi gk[ Wbb‡ [ijWXWd" be gk[ YWkiŒ ceb[ij_Wi W bei YedZkYje# h[i$
) (Ĺ‹0 "v /&)Ĺ‹ Ĺ‹0#0# ( ;b `[[f L_jWhW l[hZ[ Yed fbWYW F?7#*/(" f[hj[d[Y_[dj[ W 7dW IWb_dWi" \k[ heXWZe Wo[h W bWi &*0)+ Z[ bWi W\k[hWi Z[ bW l_# l_[dZW Z[ kd \Wc_b_Wh" kX_YWZW [d J[hh[ceje$ 7f[dWi 7dW dejÂŒ gk[ bW ^W# X‡Wd heXWZe" _d\ehcÂŒ W bW 9[d# jhW Z[b HWZ_e FWjhkbbW '&' " fWhW ik beYWb_pWY_ÂŒd1 bei W][d# j[i Z[ _dc[Z_Wje _d\ehcWhed W jeZWi bWi kd_ZWZ[i fWhW ik beYWb_pWY_ÂŒd" i_d gk[ ^WijW [b cec[dje ^WoW i_Ze kX_YWZe$ 7 bWi &.0*& Z[ Wo[h" bW W\[Y# jWZW fkie bW Z[dkdY_W Wdj[ bW Feb_Y‡W @kZ_Y_Wb" [bbW [if[hW gk[
¥ ēŊ Ŋ .+(!~ Ŋ 4"(!( +Ŋ (-" % Ŋ#23#Ŋ-4#5.Ŋ'#!'.Ŋ"#+(!3(5.ēŊ
[d bWi fhŒn_cWi ^ehWi ik l[^‡# Ykbe i[W beYWb_pWZe o jWcX_ƒd gk[ i[ iWdY_ed[i W bei Z[b_d# Yk[dj[i$
āą
ŏāĈŏ ŏŏ ŏ ŏĂĀāā
ŏ +. ŏ
8KI9E ;CFB;E 1.$#2.1ũ
-%#-(#1 ũ #-ũ +(,#-3.2ēũ -$ēũ ĉđĎĎĊĈĈũ ĵũ ćĒĎđĎĐĒďćũ
-%#-(#1 ũ #-ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ćĒĎĐĈČĒđďũĵũĉČĎććĎć
4(" ".ũ "#ũ -!( -.2ũ 8ũ -( .2ēũ -$ēũ ĉČĉĊĎćĊũ
#+#!31(!(23 ũ ĵũ , -3#-(,(#-3.ũ ĵēũ -$ēũ ćĒĒĎćĒĊĉćĉũũ
ũ _!-(! ũ 4/#1(.1ũ #-ũ .,/43 !(¢-ũ #ũ (-$.1,;3(! ēũ -$ēũćđćĊĎďĉĎĐ
ũ -%#-(#1 ũ .,#1!( +Ėũ -$ēũũĉđćĎČĎĈ
4(" ".ũ "#ũ -( .2Ĕũ "4+3.2ũ , 8.1#2Ĕũ #-$#1,.2ũ #+$ēũćđĐĊĒđđĊČ
ũ #-ũ +4,(-(.ũ 8ũ 5("1(.ēũ -$ēũ ĉđĉĊďĈĈũ ĵũ ćĒđĈĊĒĎĉĒ
#!1#3 1( ũ )#!43(5 ũ (+(-%Õ#ēũ -$ēũ ćđĒĐđĈćđć
(,/(#9 ũ "#ũ ! 2 Ĕũ .$(!(- 2ēũ -$ēũ ćđďĐďďĐĈćũĵũĉČĈĎČĎĊũ
#231.ũ #+#!31.,#!;-(!.ēũ .+" "41 ũ "#ũ 34 #1~ 2ũ ũ /1#2(¢-ēũ -$ēũ ũ ćĒĊćĎĊĈĒĉũ ĵũ ćđĈđĒĉĒĉďũ
47(+( 1ũ "#ũ .$(!(- ũ ĵũ ,#-2 )#1.ēũ -$ēũ ćđĐĎĎĉĊďĈ
!.-.,(23 ũĵũ/1.$#2.1ēũ -$ēũćđČďćĊĊđĉ
-%#-(#1 ũ -"4231( +ũ #-ũ 1.!#2.2ũ "#ũ 43., 3(9 !(¢-ēũ -$ēũ ĉđĉČđďĊıũ ćđČĉđđďĊĊ
1.$#2.1 ũ 154+ 1( ēũ -$ēũ ćĒĎđĊĎĈĒĊũ ĵũ ćĒđĉĈĒĎČČũ
-%#-(#1 ũ #-ũ 1*#3(-%ēũ -$ēũ ĉČĈĈďČĊũ ĵũ ćĒđđĉććĉć
-%#-(#1 ũ #-ũ $(- -9 2ēũ ĉđĐČĉćĈĵćđĐđĈďĎĉĉ
154+ 1( ēũ -$ēũĉđĎĈČĐĉũĵũćđĐđĈďĊĈĊ
-%#-(#1 ũ#-ũ 1% -(9 !(¢-ũ"#ũ ,/1#2 2ēũ -$ĖũćđĐĊđĐĒĐďē
-%#-(#1 ũ#-ũ .-3 (+(" "ũ8ũ 4"(3.1~ ēũ -$ēũ ćĒđĎĒĐĈđď
ũ #!#2(3.ũ !.2#1ũ . 1 2ũ ũ + ũ ! 2 ũ ++ , 1ũ ćĒĈĒĉćĈĉć
-%#-(#1.ũ !.-ũ #7/#1(#-!( ũ #-ũ , -3#ı -(,(#-3.ũ "#ũ !#-31.ũ "#ũ !.,/43.ēũ -$ēũũ ćđĊĉĒĉđďČũ
-%#-(#1 ũ#-ũ 1% -(9 !(¢-ũ"#ũ ,/1#2 2ēũ -$ēũĉČČĎĊĎĎ
4(" ".ũ ũ/#12.- 2ũ"#ũ+ ũ3#1!#1 ũ#" "ũ -$ēĖũćĒĎĊććďČĊũıũĉČĈďĈĎĈ
154+ 1( ēũ -$ēũćđČČČćĒĊđ
:FEK8;FI<J 47(+( 1ũ !.-3 +#ĵ 3#-!(¢-ũ +ũ !+(#-3#ũ -$ĖćđĐĐďďĉČć %1#2 " ũ "#ũ !.-.,~ ēũ -$ēũ ĉČČĈĎČČũ ĵũ ćĒĎďČČđČĒ 47(+( 1ũ !.-3 +#ēũ -$ēũ ĉđĉćĉďĎũ ĵũ ćĒĒĉĊđĒćĈũ 47(+( 1ũ!.-3 +#ũ -$ĖćĒĒĒČĒćĎĐ ũ 4"(3.1ũ !.-ũ ,/+( ũ #7/#1(#-!( ēũ -$ēũ ĉČĈĐĈĉĎũĵũćĒĉĒĊĐČČČũ -%#-(#1 ũ #-ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũĉĎĉćĉĈćũĵũćĒĉĐĉćĉČĒ -%#-(#1 ũ #-ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ ē ē ēũ -$ēũćĒđĉĉĐĊĈđũĵũćĊĉđČđĐđČ
-%#-(#1.ũ #-ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũĉđĎĊĐĊĒũĵũćđČďćĐđĈďũ -%#-(#1.ũ"#ũ ,/1#2 2ũćĒĉĊĊđĊĎĎ -%#-(#1.ũ #-ũ ,/1#2 2ēũ -$ēũ ĉČĈČĉĊďũ ĵũ ćđĐđĈďđďćũ -%ēũ .,#1!( +ũ8ũ '.$#1ũ/1.$#2(.- +ũ!.-ũ 5#'(!4+.ũćđĊĎďĈďĒČ -%#-(#1.ũ -"4231( +ũ #-ũ 1.!#2.2ũ "#ũ 43., 3(9 !(¢-ēũ -$ēũ ćĊıũ ĉĐČďıćĐČũ ĵũ ćđĊĉĒĉđďČ
.-3 ".1 ũ !'(++#1ēũ -$ēũćđČćĊĒđđĉ
-%ēũ #-ũ (23#, 2ēũ #+ũ ćđĈćĈĎđĊďĵũ ĉČĈďĈĐĉ
!3 5.ũ2#,#231#ũ"#ũ -%#-(#1~ ũ#-ũ .-ı 3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũ ĉĐĎČĊČćũ ĵũ ćđĊČććďćĐ
-%#-(#1 ũ .,#1!( +ũ !.-ũ #7/#1(#-ı !( ũ #-ũ !. 1 -9 2ēũ -$ēũ ćđČĎćĊďđČũ ĵũ ćđĐČćĐĈćČũ
%1#2 ".ũ "#ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũĉđĉĒČćĈĵćđĐĒđďĒďĉ
-%#-(#1 ũ .,#1!( +ēũ -$ćđĐđĊĈĊđĒ
.-3 ".1 ēũ -$ēũćđĐććđďĐďũ -%#-(#1 ũ #-ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũćĒććđĐĒďĎũ %1#2 " ũ "#ũ .-3 (+(" "ũ 8ũ 4"(3.1( ēũ -$ēũĉČĈĈĐĉĈũĵũćĒĎĉĎććĎć
%1#2 ".ũ"#ũ -%#-(#1~ ũ#-ũ +(,#-3.2ēũ -$ēũ ćĒđĊćđĒĈďũ -%#-(#1 ũ#-ũ ,/1#2 2ēũ -$ēũćđĐĒđĉĐĊĐũ -%#-(#1.ũ !.,#1!( +ēũ ĉČĎĉĒĎćũ ĵũ ćĒĎĒđĉĒĒĒ
.-3 ".1 ēũ -$ēũĉČĉĎĒďćũĵũćĒĎČćĊĈĎđ
ũ -%#-(#1.ũ"#ũ ,/1#2 2ēũ -$ēũĉČČĉĉĐďũĵũ ćđĊĉĒĒĐĉĐ
-%#-(#1 ũ"#ũ ,/1#2 2ēũ .-3 ".1 ēũ -$ēũ ĉČĎććČĐũĵũćĒĐĒČććĉđũ
-%#-(#1.ũ #-ũ (23#, 2Ĕũ #+#!31¢-(! ũ #ũ (-"4231( +ēũ -$ēũćĊĉĉĐďĈĉĈũIJũćĒđĈĉĊĊĉĈ
%1#2 " ũ "#ũ ",(-(231 !(¢-ēũ .-3 ".ı 1 ēũ -$ēũĉČĈĎďĒďũĵũćĒĒĐĐĎđĐď
%1#2 ".ũ "#ũ -%#-(#1~ ũ +#!31¢-(! ũ #-ũ .,4-(! !(.-#2ēũ -$ēũ ĉđĉĎďĐĈũ ĵũ ćđČĐđĎćĐĎũ
.-3 ".1 ēũ ćĒđĎĒďćĒď
-$ēũ
ĉČĉďđĊđũ
ĵũ
89F>8;FJ 234"( -3#ũ "#ũ 41(2/14"#-!( Ĕũ 2_/3(,.ũ 2#,#231#ēũ -$ēũćđćĐČďĒďĈ %1#2 " ũ "#ũ #1#!'.ũ !.-ũ #7/#1(#-!( ũ #-ũ!.-3 (+(" "ēũ -$ēũćđĐıĉĒĐĉĐĊũĵũćĒďı ĊĒĈĈĒć
-%#-(#1 ũ .,#1!( +ēũ -$ēũ ĉđČďćĉČũ ĵũ ćĒďđćĉĐďĈ %1#2 ".ũ "#ũ -%#-(#1~ ũ +#!31¢-(! ũ #-ũ .,4-(! !(.-#2ēũ -$ēũ ĉđĉĎďĐĈũ ĵũ ćđČĐđĎćĐĎũ
-%ēũ #!;-(!.ēũ 2/#!( +(9 ".ũ#-ũ ",(-(2ı
ũ -%#-(#1.ũ#-ũ"(2# .ũ -"4231( +ēũ(-$.1,#2ũ ĉČĈĉĈĈđĵćđĐćĉĎćĎĒ (-$.1,#2ũ
ũ -%#-(#1 ũ#-ũ ",(-(231 !(¢-ũ"#ũ ,/1#ı 2 2ēũ -$ēũćđĐĈđĈČĐĒ -%#-(#1 ũ#-ũ +(,#-3.2ēũ -$ēũćđćĐĎĎĉĎČ ũ ēũ ēũ ēũ ćđČĎĈĊĐćĉũĵũĉđĉĐČČĉ -%#-(#1.ũ #-ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ćđČČĈČĉćĈũĵũćĒĐĊćĈĊĈć -%#-(#1.ũ (5(+ēũ -$ēũćĒĉĐćĒĐďĈ
8;D@E@JKI8K@MFJ %1#2 ".ũ"#ũ ",(-(231 !(¢-ũ"#ũ ,/1#ı 2 2ēũ -$ēũćĒČđĎđĈĎĎēũ #!1#3 1( ũ )#!43(5 ēũ -$ēũ đĊĉČĊĊđČũ ",(-(231 ".1 ũ ũ "#ũ ,/1#2 2ēũ -$ēũ ĉČĉĊđĉĉĐĵćđĊĈĒĎĊĈĒ
47(+( 1ũ ",(-(231 3(5 Ĕũ 5#-3 2Ĕũ 3#-ı !(¢-ũ +ũ !+(#-3#ēũ -$ēũ ćđČĐČČĐćČũ ĵũ ćđĊĈđĐđČĊũ #!1#3 1( ũ #!#/!(.-(23 ēũ 47(+( 1ũ !.-ı 3 +#ēũ -$ēũćđČĎďďĈĒďũ
2(!¢+.%.ũ -"4231( +ēũ -$.1,#2Ėũ ĉđČďĈđČũ ĵũćĒĉĐđĊĉĎČ
-%#-(#1 ũ #-ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ćđĐđĈďĎĉĉ
234"( -3#ũ ćĒđććĒĈĎď
-$ēũ
-%#-(#1.ũ .,#1!( +ēũ -$ēũ ĉČĎĉĒĎćũ ĵũ ćĒĎĒđĊćć
2(!¢+.% ũ -"4231( +ēũ -$ēũ ĉČĈĈČďćũ ĵũ ćđČĈĐĈďĒĐ
-%#-(#1.ũ #-ũ ,/1#2 2ēũ -$ēũ ĉČĈĎĊĒćũ ĵũ ćđćďĈĈćĒć
ũ 2(!¢+.% ũ -"4231( +ēũũ -$ēũćĒĎČĉĉĈĊĊ
-%#-(#1.ũ .,#1!( +ı '.$#1ũ /1.$#2(.- +ēũ -$ēũćđČČĈČđĎć
"#ũ
2(!.+.%~ ēũ
ũ 2(!¢+.% ũ -"4231( +ēũ -$ēũ ĉČĉĈĊČĈũ ĵũ
ćđČďĈĎĊďćũ
%1#2 ".ũ -%#-(#1( ũ (5(+ũ -$ēĖũćĒĎĉďĒĈČĐũ ıćĒĎćČĊĊĒĊ
ũ
'.$#1ũ /.1, -ũ -$ēĖũćĊĉũđČćĉćĊ
'.$#1ũ/1.$#2(.- +ũĵũ #%41(" "ũ -"4231( +Ėũ -$ēĖũćĊĉđĎĈđďđıćĒĉĎĒćĈđđ '.$#1ũ /1.$#2(.- +ēũ ćĒĎĎćďďĐđ
ĉđĎďČćĒũ
ĵũ
'.$#1ũ /1.$#2(.- +ēũ -$ēũ ćĊĉũ ČĈĉĊćđũ ĵũ ćđČĈČđđđĊ
<DGC<F ;FD<JK@:F 4(" ".ũ ũ /#12.- 2ũ "#ũ + ũ Ċ1 ũ " "ũ ĉČĈďĈĎĈũıũćĒĎĊććďČĊ 4(" ".ũ "#ũ /#12.- 2ũ -!( - 2ũ -$ēĖũ ĉČĈďĉĉďũıũćđČũĊĊĈďĐĉ
ũ -%#-(#1.ũ #-ũ (23#, 2ēũ -$.1,#2Ėũ ĉČĎĉĐĎĎũĵũćđĐČĒĊĉČĉ
2(!¢+.%.ũ -"4231( +ēũ -$ēũćđĐČČďĎĒĊũ
(/.ũ
%1#2 " ũ #-ũ -! ũ 8ũ (- -9 2ēũ -$ēũ ćĒĉĎĐććĈČ
.% ".ũ (-$.1,#2Ėũ ćđĒĒĉČďĎĈũ ĵũ ĉđĐĈćĈĎ
-%#-(#1 ũ #-ũ #23(¢-ũ (- -!(#1 ēũ -$ēũ ĉČĎććĎćũĵũćĒĎĐĈČĒđď
'.$#1ũ !.-ũ (!#-!( ũ #+ēćđďĒđĐďČď
!.-.,(23 ēũ -$ēũćđČČĒĊĒćĈũĵũĉĎĉĈđČć
,/+# " ũ".,_23(! ēũ -$ēũćĒćĈĊćĊćĒ
-%#-(#1.ũ #-ũ (23#, 2ēũ -$ēũ ĉđĎĊĒĉĊũ ĵũ ćĒđĎďČđČĈ
'.$#1ũ /1.$#2(.- +Ĕũ ! 3#%.1~ ũ ēũ -$ēũ ćđĐĊČĐČĎĉ
'.$#1ũ/1.$#2(.- +Ĕũ+(!#-!( ũ3(/.ũġ Ģēũ #-%.ũ ! ,(¢-ũ 84-" (ũ 41%.-ũ ĔũĈĒĒČĔũ! / !(ı " "ũ Ċũ 3.-#+ " 2ēũ 3#+_$.-.Ėũ ćĒĒĉćĊĐĎđũ ıũĉĎĉĉđĊđ
<:FEFD@JK8J
-%#-(#1 ũ"#ũ ,/1#2 2ēũ -$ēũ #+$ēũćđďđĊĈĎĒũ ĵũćĒĈććďďĉď
2(!¢+.% ũ +~-(! ēũ -$ēũ ĉČĐďĈĎĎũ ĵũ ćĒĈďĈĈĎćĎũ
'.$#1ũ /.13, -ũ 3(/.ũ ġ ĢĖũ (-$ēũ ćđĈĐĈĒďĉđũ
'.$#1ũ/1.$#2(.- +Ėũ -$.1,#2ĖũĉČĉĐĎĊđ
%1#2 ".ũ "#ũ 41(2/14"#-!( ēũ -$ēũ ćđĐďĒĎďČĊũ
-%#-(#1.ũ"#ũ ,/1#2 2ēũ -$ēũćĒđĐĎĉĐćĐ
'.$#1ũ/1.$#2(.- +Ĕũ+(!#-!( ũ3(/.ũ ũ8ũ ũ -$ēĖũ ćđćĐďćĒČČũıũćđćĐďćĒČČũ
/ !(3 ".1ũ #-ũ ",(-(231 !(¢-ũ Ì +(! ēũ -$ēũćĒČĎĊćČćđ
4(" ".ũ "#ũ -( .2ũ 8ũ /#12.- 2ũ , 8.1#2ũ -$ēĖũćđĊĈďĉđćĊ
.2#.ũ#234"(.2ũĸĒũ2#,#231#2Ĺũ#-ũ 2(!.+.ı %~ ũ +~-(! ēũ -$ēũćđĐďĒĎďČĊũ
'.$#1ũ /1.$#2(.- +Ĕũ +(!#-!( ũ 3(/.ũ ēũ -$ēũ ćĒĉČćĉĎĈĎ
'.$#1ũ /1.$#2(.- +ēũ (/.ũ ũ -$.1,#2Ėũ ĉČĉĉĒĐćĵćđĐĊČĉĈĐď
-%#-(#1.ũ #-ũ #1! ".3#!-( ēũ -$ēũ #+$ēũ ĉđĎĒĊĒĈũĵũćĒČČćĎđČČũĵũćđĐđĈĐĉđĉ
2(!¢+.%.ēũ -$ēũćđĐďĒĎďČĊ
'.$#1ũ /1.$#2(.- +Ĕũ +(!#-!( ũ 3(/.ũ ēũ -$ēćĒĒĎĉĈđĒĐıćĒĒĎĉĈđĒĐēũũ
%1#2 " ũ (#-!( 2ũ ",(-(231 3(5 2ēũ -$ēũ ćđĊĉďČćĉć
234"( -3#ũ #ũ #1#!'.ēũ -$ēũćĒĒćĎĊĊđĐ
-%#-(#1.ũ #-ũ +(,#-3.2ēũ -$.1,#2Ėũ ćĒđĈĐĊđĐĉ
:?F=<I<J
#!1#3 1( ēũ -$ēũćĒĎćĉđĐĉĊ
31 !(¢-ũ"#ũ 1."4!!(¢-Ĕũēũ + , 1ũ +ũĉČĎĈĈĊČũ ĵũćĒĎđĎĎĐĈĉ
GJ@:FCF>FJ
M8I@FJ
'.$#1ũ/1.$#2(.- +ēũ(/.ũ ũũ!.-ũ! ,(¢-ũ"#ũ Ďũ3.-#+ " 2ē -$ĖũćĒĐĈĊĉďĈČ
"#1ũ #ũ '() ũ "#2# -ũ 31 ) 1ũ /4#1ı 3 2ũ "#-31.ũ .ũ $4#1 ũ -$ēĖũ ćđĊĈďĉđćĊũ ıũ ĉČĈĉĉď
.% " ēũ -$ēũĉČĉČćĎĒũĵũćĒĎČćĒĐĐĒ
,/+# " ũ".,_23(! ũćĒđđĒČďćĐ
,/+# " ũ".,_23(! ēũ -$ēũćĒđđĒČďćĐ ,/+# " ũ ".,_23(! ēũ #+$ĖćđĒĒćĎĒČĉũ ĵćđĒĒĊĊĊĉČ ,/+# " ũ".,_23(! ēũ #+$ĖćĒćĐĐďĈĐČĵć đĒĒćĎĒČĉĵćđĒĒĊĊĊĉČ
'.$#1ũ2/.13, -ēũ -$ēũćđĐďďĉĊĊĊũũũũũ #!#2(3.ũ#,/+#.ũ2.8ũ!'.$#1ũ/1.$#2(.- +ũ !.-ũ +(!#-!( ũ 3(/.ũ ġ Ģũ + , 1ũ +ũ 3#+$ēĖũ ćĒĒĎĉĈđĒĐũĵũćĒĒĎĉĈđĒĐ '.$#1ũ /1.$#2(.- +ũ ćĒĒćĈĉĊĈć
42! ũ 31 ).ũ
:FEJKIL::@FE
(,/(#9 ũ"#ũ! 2 Ĕũ.$(!(- 2ēũ -$ēũćđďĐďďĐĈćũ ĵũĉČĈĎČĎĊũ
#ũ1# +(9 ũ31 ).2ũ"#ũ/(-341 ũ#-ũ! 2 2Ĕũũ #+$ĖũćđĎĉćČĈĐĒ
11#%+.ũ! 2 2Ĕũ"#/ 13 ,#-3.2ũ4ũ.$(!(- 2Ĕũ 84" ũ8ũ!4(" ".ũ ũ "4+3.2ũ, 8.1#2ēũ -$Ėũ ćĒđĐĎĉđĈď
ũ 4#13 2ũ 43.,;3(! 2ũ !#++ĖũćđČĎĎĐĎđćũıũćĒĊćĒđĉĐĒ
4(" ".ũ"#ũ -!( -.2ēũ -$ēũćĒđđćĎĊČćũ 4(" ".ũ"#ũ -!( -.2ēũ -$ēũćĒĉĐćĎĒČď
(,/(#9 ũ "#ũ .$(!(- 2ũ 8ũ ,#-2 )#1 ēũ -$ēũ ćĒĒćĉĉđĈĊũ
4#' !#1#2ũ ".,_23(!.2ēũ -$ēũ ĉČĈďĉĉďũ ĵũ ćđĊĈďĉđćĊũ
234"( -3#ũ"#ũ"(2# .ēũ -$ēũćđČďđĉĉćĉ
#!-¢+.%.ũ #-ũ 2(23#, 2ēũ ĉČĉĊđĉĉĐĵćđĊĈĒĎĊĈĒ
-$ēũ
2 )#ũ #1 /_43(!.ũ8ũ$+.1 +ũ/ 1 ũ" , 2ēũ -$ēũćĒĈČČĈĈĈć #-"#".1ēũ -$ēũćđĐĎČćĈďČ )#1 ũ ĵũ 5#-"#".1 ũ ĵũ 1#!#/!(.-(2ı 3 ēũ ũ ,#"(.ũ 3(#,/.ēũ -$ēũ ĉđĎĎćĈćũ ĵũ ćĒĉČĊĒĉďĎũ 4 1"( ũ"#ũ #%41(" "ēũ -$ēũćĒđĉĉćđďČ %#-3#ũ!423."(.ĵũ#2!.+3 ũ"#ũ2#%41(" "ēũ -$ēũćđđĈďćďĈĒ #-"#".1 ēũ -$ēũćĒĉđćĊĉĈćũ )#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 .3.1(9 ".ũ !.,.ũ ,#-2 )#1.ũ 8ũ / /#+#2ũ +ũ "~ ũ ,.3.ũ /1./( ēũ ćĒĉĒđČĐĈćēũ (;-ũ %4(11# ũ Ĕũ #5#-3.2ũ 2.!( +#2ũ -$ēĖũ ćĒĎĎďđĎĐĒ 1."4!!(¢-ũ 4"(.5(24 +ũ -$ēĖũ ĉČĉćĈĎČũ ıũ ćĒĎĎČďĉĒĐ 84" -3#ũ 1/(-3#1.ũ -$ēĖũĉČďćČĈĊ
41%.-#3 ũĈĐũ/ 2 )#1.2ũ -$ēĖćĒĉđĎćĈĈđ
'.$#1ũ/1.$#2(.- +ũ3(/.ũġ Ģũ/ 1 ũ3 7(2ũ8ũ ! ,(.-#2ũ"#ũĎũ3.-#+ " 2ēũ -$ĖũĉČććđĎĎũ ıũćĒĎĐĒĒĈČĊũũũũũũ
#!-¢+.%.ũ (5(+ũ 8ũ ( +ēũ -$Ėũ ĉČĉĉĒĐćĵũ ćđĐĊČĉĈĐď 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
#1 /( ũ ~2(! ēũ -$ēũĉČĈĐĐĉĒ 1*#3(-%ũ 8ũ #23(¢-ũ "#ũ #%.!(.2ēũ -$ēũ ćĒĉĐĈĈđĎĈ
ũ '.$#1ũ /1.$#2(.- +Ĕũ ũ !.-ũ ! ,(¢-ũ ćđĒćĎĎđćČ '.$#1ũ /1.$#2(.- +Ĕũ ! 3#%.1~ ũ ēũ -$ēũ ćĒđćĐćĉČČũ
.,4-(! !(¢-ũ .!( +ēũ -$ēũĉđĉďĒĉĉ
#15(!(.ũ"#ũ .1" ".2ũ ũŌũćĔđćũ+ ũ".!#- ēũ -$ēũćĒđĈďćČĎĊ
#!#/!(.-(23 ũ .3#+Ĕũ +(!#-!( ũ (/.ũ ũ -$ēĖćđďĒđĐďČď
#!1#3 1( ēũ -$ēũćĒĉđćĊĉĈćũ
ũ 2#15(!(.2ũ !4(" -".ũ -( .2ũ -$ēĖũ ĉđČĎďđćũıũćĒĐĉĉĈććď
-3#-(,(#-3.ũ "#ũ /(2!(- 2ēũ -$ēũ ćđĈĐĈĒďĉđ
'.$#1ũ /1.$#2(.- +ēũ -$ēĖũ ćđĉćČđĐĊĉũũ ĸćĊĹĉČĈĊČĉĊũ
#ũ1# +(9 ũ31 ).2ũ"#ũ/(-341 ũ#-ũ! 2 2Ĕũũ #+$ĖũćĒĒćĈĉĊĈć
(,/(#9 ũ"#ũ! 2 2Ĕũ"#/ 13 ,#-3.2Ĕũ.$(!(ı - 2ēũ -$.1,#2ĖũćĒćĊĊĎĈĐďũĵũĉĐĎČďĈĉēũ
#!1#3 1( ēũ -$ēũĉđČĉćĎĐ
.-2#)#1~ ũ ~ +(! ũ #1 /_43(! ũ #+$ēĖũ ĉđĉĈĊĐĊũıũćĒđĎČďĎđĐ
ũ %1#2 " ũ"#ũ 1*#3(-%ēũ -$ēũĉđĎĊďĐď ."#+.ũ/1.$#2(.- +ēũ .+.ũ!.-3 !3.2ũ/1.ı $#2(.- +#2ēũ -$ēũćđĐČćĊĊĎĈũ .,4-(! !(¢-ũ .!( +ēũ 1."4!!(¢-ũ 1 "( +Ĕũ ,42(! +Ĕũ+.!4!(¢-Ĕũ2.-("(23 ēũ -$ēũĉČĉĊĎĊĒũ ĵũćĒĒćĒđĎĊĈē
(!ēũ .,4-(! !(¢-ũ .!( +ēũ -$ēũĉČĈĉćĒĊ .,4-(! ".1 ũ .!( +ēũ -$ēũ ćđĊććĎĒČĊũ ĵũĉđĉďĒĉĉ ũ #!;-(!.ũ(-"4231( +ēũ -$ēũćĒĎćĒĊĉćĉũ _!-(!.ũ#-ũ(-$.1,;3(! ēũ -$ēũćĒđđďĒĈćĊ %1#2 " ũ 1*#3(-%ũ8ũ #23(¢-ũ"#ũ #%.ı !(.2ēũ -$ēũćĒđĉĊĊĈĉĎ ũ #!1#3 1( ũ (+(-%Õ#ēũ -$ēũĉđĎĉĊďć
(!#-!( " ũ #-ũ 1 ).ũ .!( +ēũ -$ēũ ćĒĎďĐĎĈĉĉ _!-(!.ũ #-ũ (23#, 2ēũ -$ēũ ćđĐćĎĊďĊćũ ĵũ ĉđĉĈďđČ ũ (!#-!( " ũ#-ũ .,4-(! !(¢-ũ .!( +ēũ -$ēũ ćĒĎćĉĒĒďđ
ũ !'(++#1ũ _!-(!.ēũ +#!31(!(" "ũ -"4231( +ēũ -$ēũĉĐĎĎććć
2(23#-3#ũ"#ũ.$(!(- ũ #+$ĖũćđČıĉĉĉıĉćĎ %1#2 ".ũ#-ũ 1*#3(-%ũ8ũ #23(¢-ũ"#ũ #%.ı !(.2ũ #+$ēũćĊĉČĈĉđćĊĵćđĐČČćĉďĎ !'(++#1ũ #-ũ ćĒĉĎĈĊĉĊĒũ
(-$.1, 3(! ēũ
-$ēũ
4~ ũ341~23(! Ĕũ/1.$#2.1 ũ"#ũ (+.2.$~ ēũ -$ēũ ćĒćĊĈĒĐČćũ
,/+# ".ũ -! 1(.ũ!4 +04(#1ũ;1# ėũ!'.ı $#1ũ /1.$#2(.- +ũ #+$ēũ ćĒĎĒďĎČĊĐũ 8ũ ćĊũ ĉČĈćČČĉ
!'(++#1ũ 4~,(!.ũ (¢+.%.ēũ -$.1,#2ũ ćđĐĒĎĒćĉČĵćđĐĈĎďĒĎĒ
#!#/!(.-(23 ēũ -$ēũ ćĒĒČćĊČĐĒũ ĵũ ćđĉďĎďĉČćũ
1#-2(23 Ĕũ#7/#1(#-!( ũ#-ũ(,/1#-3 2ēũ -$ēũ ćĒĒĒďČđĈďũĵũĉđĉĉďĐĒũ
ũ3#!-¢+.%.ũ#-ũ -;+(2(2ũ"#ũ (23#, 2ēũ -$ēũ ĉČĎĉĒĎČũĵũćđĊćĈĎďĈĉũ
-$#1,#1 ēũ ćđČĎČĐČĈĒ
ĵũ
%1#2 " ũ"#ũ 41(2,.ũ!.-ũ,#-!(¢-ũ#!.ı +¢%(! ēũ -$ēũćđČĐĈĊďďĈũ
13 ēũ !'(++#1ũ#-ũ(-$.1, 3(! ũ 4#- ũ/1#ı 2#-!( ēũĉđĎćČČĐ
(2# ".1ũ/4 +(!(3 1(.ēũ -$ēũćđČĎđČďĒđũũ
-$ēũ
ćĒĐĎďĉĎĒćũ
ũ 11#%+.ũ "#ũ !.,/43 ".1 2ēũ -$ēũ ćĒĎđćČČđď
ũ #-2 )#1.ũ .3.1(23 ēũ -$ēũĉČĈĒĉĊĐ ũ #!#/!(.-(23 ũĵũ 2(23#-3#ũ .-3 +#ēũ -$ēũ ćđĐĊđďĈĉĐ
(!#-!( ".ũ #-ũ "4! !(¢-ũ , (#-ı 3 +ũ 8ũ !.341(2,.ēũ -$ēũ ćĒđđĎđđĊćũ ĵũ ĉđČĉĊĈćũ (-3.1ũ /1.$#2(.- +ũ "#ũ ! 2 2ũ /(-341 ũ "#!.1 3(5! ũ #-ũ %#-#1 +ũ % 1 -3(9 ".ēũ ćĒĒćĈĉĊĈć
4/#15(2.1ũ"#ũ ."#% ēũ -$ēĖũćĒĉũĒĎũĎđũćĉũ IJũĉũČĉũČČũĉĎũũũ
ũ (!#-!( ".ũ #-ũ "4! !(¢-ũ , (#-ı 3 +ũ 8ũ !.341(2,.ēũ -$ēũ ĉđČĉĊĈćũ ĵũ ćĒđđĎđđĊć
84" -3#ũ"#ũ.$(!(- ũĵũ 47(+( 1ũ"#ũ#-$#1ı ,#1~ ēũ -$.1,#2ĖũćĒđĉćĉĈĈĉ
42!.ũ#,/+#.ũ!.-.!(,(#-3.2ũ"#ũ(-%+_2Ĕũ !.,/43 !(¢-ĔũćĒĎČďĎĊĉĐ
.,4-(! ".1ũ 2.!( +ũ ĵũ #+ !(.- ".1ũ Ì +(!.ũ ĵũ #231.ũ "#ũ #1#,.-( 2ēũ -$ēũ ćđČćĈĐČďĒ
#!1#3 1( ēũ -$ēũĉđĎĎćĈćũĵũćĒĉČĊĒĉďĎ
#-2 )#1.ēũ -$ēũĉĐďĉĊđĉ
+#!31(!(23 ēũ -$ēũćĒĉĎđćĊćĒũ
ũ .,4-(! ".1 ũ .!( +ēũ -$ēũĉđĉĈĊĒĊ
!'.$#1ũ /1.$#2(.- +ũ ĵũ 1# +(9.ũ 5( )#2ũ !.-ũ 5#'~!4+.ũ/1./(.ēũ -$ēũćđĊĈĈĐćĊĉ
..1"(- ".1 ũ ćĊĉĉĐČćđĈĐ
"#ũ
5#-3.2ēũ
ũ %1#2 ".ũ "#ũ 1% -(9 !(¢-ũ "#ũ ,/1#ı 2 2ēũ -$ēũćđĐĉĐďĈĐćũĵũĉĎĉĈćĐĒ ũ ũ .-3 !.ĖũćĒĎĎďđĎĐĒ
-$ēũ
ũ ũ +#!31(! 2ũ ! , 1 2ũ"#ũ5(%(+ -!( ũ #+ēĖũćđČĎĎĐĎđć /+//-
@E><E@<IFJ
GIF=<JFI<J -"8ũ . (-2.-ēũ -%+_2ēćĒĒĐćĒćĊĒ
ũ ũ ! 2 ũ 11(.ũ ũ 1.+(- ũ ĈĊďũ
,#31.2ũ!.-2314!!(¢-Ĕũ .ũĈŴĉũ3#1,(- ı ".2ēũ #+ēũĉđĉĐđĒćũıũćđČćĊĊćđćũĸ 1(+ũ ĈĐũŇĉĈČđćĹ
ũ 1%#-3#ũ ( 1#1~ ũ 4!1#ũ8ũ 4 ı 8 04(+Ĕũ2.+.ũ(-3#1#2 ".2ũ #+ēĖũćĒČĎćĉĎĈďũ ĸ 1(+ũĉćŇĒĐđĈĎĹ ũ ũ /1./(#" "ũ ,#).1ũ 2#!ı
3.1ũ 3 3#ũ ĊĊćēćććũ -#%.!( +#2ũ ďũ !4 "1 2ũ "#ũ 3#11#-.ũ -$ēĖũ ćĒđĒćĒĊĉĉũ ıũćĒďĉĐČĊČď
#11#-.ũ"#ũ./.134-(" "ũ#7!#+#-3#ũ4 (ı
! !(¢-Ĕũ 2#!3.1ũ ũ #-~-24+ ũ )4-3.ũ ũ + ũ + 9 ũ #-31 +ĔũĊĎć,ĉũ!#+ēũćĒĒđĉćĒĐĉēũũ ĵđĉĊĐČĵ!! ũ Ĕũ / 1 ũ 41 -(9 !(¢-Ĕũ #,/1#2 Ĕũ !.,/ ~ ũ #3!ēũ .-ũ 2#15(!(.2ũ ;2(!.2Ĕũ 31#2ũ 5( 2ũ ũ 24ũ !.-3.1-.Ĕũ 24/#1$(!(#ũ /+ -(!(#Ĕũ !.-ũ ;1# ũ "#ũ ĈČēĐĎćũ ,ĉũ ũ 2#!3.1ũ 11(.ũ
.+(2ũ #+$ēĖũ ćđĎďďĈĒđĉũ ıũ ćĒĊĊČđĈćĊũ ıũćĒĒĒćĈĉĊćıũćĒĎĊĎđďĉćũũćĊĉČĈĈĊĉČũ ĸ 1(+ũĈĒŇũĒĐďĒĈĹ
3.1(.2Ĕũ% 1 )#ũČũ5#'~!4+.2Ĕũ3.".ũ+.2ũ2#1ı 5(!(.2ēũ #+$2ēĖũćĉĊıĐćđĒĉČıćĒĐĎđĐĊďĈı ćĒđďĎďďĈćũĸ 1(+ũĈĐŇĒĐďĐĐĹ
11(#-".ũ #-ũ #"($(!(.ũ -4#5.ũ .-(3.ũ 24(3#ũ / 1 ũ /#12.- ũ 2.+ Ĕũ / 1#) ēũ 31 ũ !.-ũ 3#11 9 ũ ,48ũ (-"#/#-"(#-3#ēũ $(ı !(- ũ %1 -"#ũ 2.+.ũ /#12.- 2ũ '.-.1 +#2ũũ #+$ēĖũ ĉđĉĒĈĒČũ +ēĖũ ćĒĊđĒďđĒĒĸ 1(+ũ ĈđŇĒĐĎđĒĹũ
ũ ēũ #/ 13 ,#-3.ũ #-ũ 4(3.Ĕũ#-ũ+ ũďũ"#ũ"(!(#, 1#ũ8ũ ~.ũ .! Ĕũ .11#2ũ"#ũ -ũ 2("1.ēũ #+$ēũćĒĒćĉďĒĒĉē ũ ũ ^ ı ũ #-ũ #-31.ũ "#ũ 13#2ũ _"(! 2ũ , 3.ũ )4-3.ũ ũ +~-(! ũ , 3.ũ ! ++#ũ .+~5 1ũćĒĉĐũ8ũ +".- ".ũ -$ēĖũĉđĉĈďđĈũ ĸ 1(+ũĉĉŇũĒĐĐĈĉĹũũ Ėũ .-(3.ũ,(-(ũ"#/ 13 ,#-3.ũ/ 1 ũ Ĉũ .ũ ĉũ /#12.- 2ũ !.-ũ / 104# "#1.ũ -$ēĖũ ćđČĐćĈĎĈĎũĸ 1(+ũĈĐŇĒĐďĐđĹ ũ .! +ũ ē ēũ #¢$(+.ũ ¢/#9ũ ĉ".ũ /(2.ũ Œũ ĈĐũ #+$ēĖũ ĉũ đČćĎĐĒũ ĸ 1(+ũ ĈĐŇĒĐďĎČĹ 11(#-".ũ! 2 Ĕũ!(4" "#+ ũ 1#2("#-!( +Ėũĉũ /+ -3 2Ĕũ ! ".2ũ"#ũ/1(,#1 ĔũČũ".1,(ı
ũ ũ 11(#-".ũ #-ũ 4 !'(ũ #+ũ 1.%1#2.ũ ĉũ ".1,(3.1(.2ũ !.2(- Ĕũ 2 + Ĕũ .ũ -$ēĖũ đČĐĎČĐũ ıũ ćđđĊđĎĈĐĎũ ĸ 1(+ũ ĈđŇũĒĐďĊďĹ
+ -3 , 3.ũ ē ēũ-#!#2(3 ũ!.-31 3 1ũĉũ ,#!;-(!.2ũ04#ũ3#-% -ũ!.-.!(,(#-3.ũ#-ũ +(-# !(¢-Ĕũ + -!#.ũ8ũ,#!;-(! ũ1;/(" ũ / 1 ũ31 ) 1ũ#-ũ (. , Ĕũ#7/#1(#-!( ũ ,~-(, ũ "#ũ ĉũ .2Ĕũ #-ũ /4#23.2ũ 2(,(+ ı 1#2Ĕũ 2#1ũ !'(++#1ũ _!-(!.Ĕũ "(2/.-( (+(ı " "ũ(-,#"( 3 ēũ -$ēũ/2.1( ľ++ -3 , 3.ē !.,ũũ!1.2#1.ľ++ -3 , 3.ē!.,ũĵũ #+$ēũ ĉČĈĈĐĊĊũ
+ -3 , 3.ũ ē ēũ -#!#2(3 ũ !.-31 3 1ũ
ũ ũĸ Ĺũ #!#ı 2(3 ũ !.-31 3 1ũ /1.$#2(.- +ũ ĸ,4)#1Ĺũ #-ũ ũ ũ ũ ı ũ -$ēĖũ ĉĒČČČđĐũ ũ ćĒĒđĒČĉćďũ ıũ ćđČĒĐĊćĎĒũĸ 1(+ũĈĒũŇũĒĐĐđĈĹ
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
4- ũ/#12.- ũ/ 1 ũ ) ũ8ũ 3#-!(¢-ũ#-ũ $(ı !(- ũ/ 1 ũ+ ũ!(4" "ũ"#ũ (. , Ĕũ"# #ũ 3#-#1ũ!.-.!(,(#-3.2ũ ;2(!.2ũ"#ũ!.,/4ı 3 !(¢-Ĕũ!.-3 (+(" "Ĕũ".-ũ"#ũ%#-3#2Ĕũ3#-#1ũ ,~-(,.ũĉũ .2ũ"#ũ#7/#1(#-!( ũ#-ũ/4#2ı 3.2ũ 2(,(+ 1#2ēũ -$ēũ /2.1( ľ++ -3 , 3.ē !.,ũ !1.2#1.ľ++ -3 , 3.ē!.,ũ ĵũ #+$ēũ ĉČĈĎĒĐĐ
āĈŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏŏ
āĆ
ũ #23(+(23 ũ !.-ũ #7/#1(#-!( ũ 8ũ
.2,#3¢+.% ũ !.-ũ +.! +ũ /1./(.Ĕũ "#2# ũ 2.!( 12#ũ !.-ũ $(2(.3#1 /(23 Ĕũ !.2,#3¢ı +.%.ũ04#ũ"(2/.-% ũ"#ũ / 1.3.+.%~ ũ #+ēĖũ ćĒĊđĒďđĒĒĸ 1(+ũĈĐŇĒĐĎđĒĹ
ũ
ũ ēũ ũ ũ ũ #!3.1ũ 23 "(.ũ ũ +~,/(!.ēũ .2ũ 24(3#2ũ Čćũ ,ĉēũ .2ũ "#/ 13 ,#-3.2ũ "#ũ 31#2ũ ".1,(3.1(.2ēćĉĎĈćĉĉĈćũ ĵũ ćĒđĐĈĒĉđĉũ ĵĉĒćĊĊĵ
"#2#.2ũ"#ũ24/#1 !(¢-ũ -$Ėũ 4!1#ũ8ũ 4(3.ũ +3.2ũ /3(! ũ 404#ũ #+$Ėũ ĉđĉĐĈďĉũ ıũ ćĒĎĒćĊĈĒĉũũŇĒĎĈđĎ
ũũ
ũ ũ ũ1#+ 7ũ!.-ũ
#++#9 2ũ (-(%4 + +#2ũ -.ũ 4204#2ũ ,;2ēũ .,.2ũ+.ũ,#).1ũćđČĈĎĊĊĒĈũĸ 1(+ũĉćŇũ ĒĐđĎČĹ
,19(67,*$&,21(6 6$1'29$/,1 &LD 'HWHFWLYHV LQÀ GHOLGDGHV À OPDFLRQHV IRWR JUDItDV ORFDOL]DFLyQ GH SHUVRQDV VHJXL PLHQWRV HVWDIDV FDSWXUDV 1LYHO 1DFLRQDO $& WI
ũ }
L[dZe Z[fWhjWc[dje Z[ (&*c( Yece dk[le C_hWÓ eh[i 9edZec_d_e 9Wbb[`Wi `kdje Wb >ej[b <beh_ZW$ ?d\ehc[i Wb J[b\0 &//-(-+&+ /-,(,
EFEHJKD?:7: ;D 87yEI
#-".ũ/ 1 ũ /1.8#!3.ũ 41~23(!.ũ.ũ .-2314!!(.-#2ũ+.3#ũ"#ũ 3#11#-.ũĉēććć,ĉũ ũ+ ũ #-31 " ũ2#!3.1ũ 4(5#ũ .31.ũĉēććć,ĉũ2#!3.1ũ !#-31.ũ 23 "(.ũ -$ēĖũ ĉĐČćđĊĐũıũćĒĐĊĊČĉĉĈ
/--,+
D;9;I?J7CEI 9edjhWjWh kdW [cfb[WZW Zec[ij_YW Yed [nf[h_[dY_W o ZeYkc[djWY_ d [d h[]bW fWhW gk[ jhWXW`[ [d F_dbbe$ I[ e\h[Y[ ik[bZe )&& KI:" X[d[Ò Y_ei Z[ b[o" jhWdifehj[ o Wb_c[djWY_ d$ ?d\ehc[i Wb (.(()+/ # &/-+/-(*+ /-.)+
;D F7J7J; ũ ũ ũ ũ ũ
ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ēĖũ ćđČČĎČćĐĒũıćđČČđĎđĈď
/-.*(
(&**-
ũ
/-,.-
/--'/
/-'/+
6( 9(1'(
,QI
7UDWDPLHQWR IDFLDOHV GH D 'yODUHV 7UDWDPLHQWR GH DFQp \ PDQFKDV 0HVRWHUDSLD FRUSRUDO \ FDSLODU 'UHQDMHV SUH SRVW TXLU~UJLFRV 5HGXFFLyQ GH PHGLGDV 'UHQDMH OLQIiWLFR 0DVDMH DQWLHVWUpV 0DTXLOODMH 'HSLODFLRQHV 0DVRWHUDSLD
$FRVWD 6ROtV \ 9tFWRU +XJR ,QVWLWXWR 4XLU~UJLFR /-**+
'5 &$5/26 5 52'5Ì*8(= /2=$'$
48,72 9(1'2
',6321(026 3$5$ 68 ,19(56,21
&,58*,$ /$3$526&23,&$ (1)(50('$'(6 '(
&2168/7(126 0217$/92 < 7L$ &(9$//26 7(/)6
',5(&&,21 7RPiV 6HYLOOD \ &ROyQ 7HOI ([W
,'($/ 3$5$ ,19(57,5 /,./)
ũ ũ Ĉēđũ ũ ũĉććĎũ ũ ũ Ėũ ćĒĊďćĈĎćĈũIJũćĒĈĉĈđĐĎĒ
,1)250(6 ZZZ QH\UHVD FRP
³ &2%5$1=$6 (&8$'25´
5HFXSHUDPRV FDUWHUD YHQFLGD /HWUDV GH &DPELR &KHTXHV \ 3DJDUpV 8G QR SDJD ORV JDVWRV 4XLWR \ &HYDOORV GR 3LVR 7HOI &HO
:H$ H7KB ?D97 7D:?DE
C;:?9E 9BÞD?9E D;<HEBE=E
/,/&+
/-*,/
/-,,-R\HUtD \ 5HORMHUtD
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 (&^&&
;D <?9E7 L;D:;CEI >;HCEI7 97I7 ;IG$ :; ( :;F7HJ7C;DJEI 9ED *&&C( :; J;HH;DE
/--+*
9EDIKBJ7 FH;L?7 9?J7 7B 9;B &// .'/..-$ FEHJ70 &/'(++,/-
ZZZ QH\UHVD FRP &217$026 &21 /,1($6 '( &5(',72
$5 FF
:; EFEHJKD?:7: L;D: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 $
&$6$6 7(55(126 :;F7HJ7C;DJEI" ),1&$6
&,58*,$ %$5,$75,&$ /$3$526&23,&$ 2%(6,'$'
*RQ]iOH] 6XiUH] GHSDUWDPHQWR PHWURV VDOD GRUPLWRULRV EDxRV HVWXGLRV FRPHGRU FRFLQDV SDUTXHRV ERGHJDV WHUUD]D 3XHGH DUUHQGDUVH HQ ,QI
$0%$72
EFEHJKD?:7:
-25*( 8//2$ -2<(52 352)(6,21$/
&8562 '( 326*5$'2 (1 7(5$3,$ 5$&,21$/ (027,9$ < &2*1,7,9$ &21'8&78$/ 7 5 ( & & (1 %8(126 $,5(6 $5*(17,1$ &21 &(57,),&$&,21 '( /$ 81,9(56,'$' '( )/25(6 < '(/ $/%(57 (//,6 ,167,787( '( 1(: <25. 3VLFRWHUDSLD HQ VLWXDFLRQHV DPHQD]DQWHV QHJDWLYDV GHO HQWRUQR SHUVRQDO IDPLOLDU PDOWUDWR FRQ\XJDO VH[XDO YHUEDO HPRFLRQDO DIHFWLYR $FRVR /DERUDO DFFLGHQWHV GHVSLGRV GH WUDEDMRV TXH GHVERUGDQ DQVLHGDG DQJXVWLD GHSUHVLyQ SiQLFR EDMD DXWRHVWLPD DOWHUDFLRQHV GH QXHVWUD VDOXG ItVLFD
/-.*(
)$%5,&$&,21 < 5(3$5$&,21 '( 5(/2-(6 < -2<$6 '( 252 $/ ,167$17(
$URV GH 0DWULPRQLR $QLOORV GH *UDGR &DGHQDV (VFODYDV %RWRQHV < OR 0HMRU HQ 3ODWHUtD GH 'LU &HYDOORV \ 4XLWR 'LU 6XFXUVDO 9DQLGDGHV .DUHQ 7HOHI -XDQ % 9HOD \ 0RQWDOYR &HOXODU &HOXODU $PEDWR ± (FXDGRU /-,,'
:;I;7 L;D:;H" 7HH;D:7H" 7BGK?B7H" 9ECFH7H
?CFEHJ7DJ; ?D:KIJH?7 J;NJ?B :; 7C87JE ũũ #04(#1#ũ!.-31 3 1ũ/#12.- ũ/ 1 ũ#+ũ;1# ũ"#Ėũũũ
āć
ũũ Ĕũ ũ ũ ũũũ
ũ ũ ēēē āĈŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏŏ
ũũ #04(2(3.2Ėũũũ
ēēēũ ũ ũ ēēē /-),-
ũũŇũ 7/#1(#-!( ũ#-ũ5#-3 2Ĕũ2#15(!(.ũ +ũ!+(#-3#ũ8ũ!. 1 -9 2ũũũ ũũŇũ ~34+.ũ4-(5#12(3 1(.ũ.ũ#234"( -3#ũ"#ũ+.2ũÌ+3(,.2ũ .2ũ"#ũũ ũũũũ+ 2ũ! 11#1 2ũ"#ũ,#1! "#.Ĕũ(-%#-(#1~ ũ!.,#1!( +ũ.ũ $(-#2ũũ ũũŇũ #$#1#-!( 2ũ/#12.- +#2ũũũ ũũŇũ #$#1#-!( 2ũ+ .1 +#2ũũũ ũũŇũ 4#- ũ/1#2#-!( ũũũ
#2#15#ũ24ũ#2/ !(.ũ3 -ũ2.+.ũ++ , -".
, 3.ĖũĉıČĉĈĐĊćĔũĉıČĉĈĐĊĈ
3 !4-% ĖũĉũđĈćďĈĒ
ũũŇũ (2/.-( (+(" "ũ(-,#"( 3
(&,,)
-3#1#2 " 2ũ#-5( 1ũ'.) ũ"#ũ5(" ũ!.-ũ$.3.%1 $~ ũ1#!(#-3#ũ8ũ 2/(1 !(¢-ũ 2 + 1( +ũ ũ+ ũ2(%4(#-3#ũ"(1#!!(¢-ũ"#ũ!.11#.ũũũ#+#!31¢-(!.Ėũ 2#+#!Ĵ5#-3 2ľ8 '..ē!.,ũũũ #ũ%4 1" 1;ũ 2.+43 ũ1#2#15 ē /--.)
7HH?;D:E :;F7HJ7C;DJE ;D <?9E7
@ > E I C 7 H
;nf[hje [d b_]WZkhWi o 9khWY_ed[i W YehjW o bWh]W Z_ijWdY_W
BW efehjkd_ZWZ gk[ YWcX_Wh| jk l_ZW o j[ ZWh| \[b_Y_ZWZ fWhW i_[cfh[$ ;IJ7I IEBE 7 [ijWi Z[i[f[hWZe W j[ ^Wd WXWdZedWZe" j[ ^Wd i_Ze _dÒ [b e i[ ^Wd XkhbWZe Z[ j_ ¶OW de ik\hWi d_ j[ bWc[dj[i c|i " [b cW[ijhe @>EIC7H [i [b d_Ye o l[hZWZ[he [d h[Wb_pWh [b c|i [\[Yj_le jhWXW`e Z[ Wceh gk[ jWdje [ijWXWi [if[hWdZe" fWhW gk[ ik fWh[`W h[]h[i[ _dc[Z_WjWc[dj[ feh cko Z_ijWdj[" \h_W e b[`ei gk[ i[ [dYk[djh[" [b e [bbW l[dZh| i_d gk[ KZ$ bW bbWc[ e bW Xkigk[" i_]W e f[hi_]W" ik fWh[`W j[ he]Wh|" j[ ikfb_YWh|" j[ bbehWh|" i[ ^kc_bbWh|" o j[ f[Z_h| gk[ h[]h[i[i W ik bWZe" `WcWi j[ WXWdZedWh| " W jWd iebe '.$&& :EB7H;I$ JhWXW`ei ]WhWdj_pWZei" j[ b_XhWcei Z[ Xhk`[h_Wi" iWbWc_[djei" [d\[hc[ZWZ[i" cWbWi e Z[iYedeY_ZWi o cWbW ik[hj[$
/-+'/
J$ FEHJ70 &/)*()+)& % J$ CEL?IJ7H0 &/+'())-' /-,*&
/-*+.
ũ ũ ũ ũ ũıũ ũ ũĊũ ũıũĉũ ũ ũ ũıũ ũıũ Ĕũ ũıũ ũ ũ ũ ũıũ Ĕũ#!3ēũ -$.1,#2ũ ũ+.2ũ #+#$.-.2ĖũćĒĎı ďĈıćĈıĒď ćĒĎıďĈıćĈıĒĐ /-.&.
:; EFEHJKD?:7: ũ
.02)-!1 %01)!-!1 .0)7.-2!+%1 6 %02)#!+%1 +&.,"0!1 )1. +.2!-2% "0!1 $% 02%
)+1.- 3%4!0! !00! .-78+%7 380%7 6 %$0. !0". %+& ,!)+ #.02)+3*. 5('/ (.2,!)+ #.,
.,)#)+). %+
3,62 )/27$17(
$/(0$1
0$;)/2$7,1* )/225 (852)/25,1
'(6'( ,167$/$'2 ,1&/8<(
ũ ũ ũ ēēēũ ũ ũ Ėũ ćĒĎıďĈıćĈıĒĐ
0(&$1,&$ *(1(5$/ ³62/,6´ 0$48,1$ (1'(5(=$'25$ '( $526 '( $/80,1,2 < 0$*1(6,2 6(59,&,2 '( 72512 < 68(/'$6 (63(&,$/(6 ',(*2 62/,6 7HFQyORJR 0HFiQLFR
'LUHFFLyQ $Y ORV &KDVTXLV \ &HVDU 0DTXLOyQ 7HOpIRQR PHWURV KDFLD HO 6XU GH ,PSRUWDGRUD 0D\RUJD $PEDWR (FXDGRU
/-.&.
%$55('(5$6 32/<63$1'(5 $,6/$17( 0$12 '( 2%5$ ,1&/8<( ,9$
7(1(026 /26 0(-25(6 35(&,26
*
'(6'(
/--/
%% # #! & ( '! # % " !!# ) #& &$' & ! (&*+-
WV Z I O
¨¨
4T M
0
* -5
;
:)
(035(6$ +27(/(5$
ũ ũ ũ ũ ũ ũ ũ ũ ¡ ũ ũ ũ ũ ũ " "ũ ;7(, ũĊĎũ .2 Ŵ ġ ļŴ Ŵ Ŵ Ŵ ļŴ Ŵ ¬ ļŴ Ŵ
ũ ũ ũ ũ ũ ũ ũ Ĕũ ũ
ũ ũ ēũ ũĈĎĉĐũ ũ ũ ũ ũ /--(.
$Y /DV $PpULFDV \ &RORPELD 7HOI &HO 0RYL &ODUR
/*,/(
ēũ"#+ũ ē Ėıũ ũ ũ ũ Ĕũ2#ũ+#ũ' !#ũ2 #1Ė
5IUn \M LWa MV ^QLI IUWZ a KIVKQWVM[ XWZY]M LM U]MZ\I XIZI Y]M \IV\I[ NTWZM[
+-4=4): !!
/-*++
+WV 2]IV /IJZQMT MK]I\WZQIVW )UWZ M\MZVW
/--&*
3RU HO 'tD GH OD 0$'5( WX PHMRU UHJDOR HV XQD VHUHQDWD
/-.&-
+25$ 352*5$0$
+25$ 352*5$0$
+
79DQXQFLRV
+
6~SHU)LOPV
+
0LQXWRV
+
&HOXORLGH
+
,QIRPHUFLDO
+
79DQXQFLRV
+
&RRIHUWDV
+
+LSHUDFWLYR
+
,QIRPHUFLDO
+
1RWLFLHUR 5HJLRQDO
+
3LQN\ \ &HUHEUR
+
5HVXPHQ 6HPDQDO 15
+
,QIRPHUFLDO
+
3XHUWD *UDQGH
+
'RPLQJRV HQ )DPLOLD
+
,QIRPHUFLDO
+
3HNH &LQHPD
+
8QLGRV DO *ULWR GHO 5RFN
+
79DQXQFLRV
+
79DQXQFLRV
+
867Y )RONORUH
+
&LHUUH
#-31.ũ "#+ũ 4(!(.ũ 2/#!( +ũ "#ũ -2.+5#-!( ũ .ēũ ĉćĈćıćđČđĔũ 2#%4(".ũ /.1ũ ũ ũ ũ Ĕũ #-ũ !.-31 ũ "#ũ ũ ũ ũ Ĕũ 2#ũ ' ũ "(2ı /4#23.ũ!(3 1ũ/.1ũ+ ũ 1#-2 ũ"#ũ#23 ũ !(4" "ũ"#ũ , 3.Ĕũ"#ũ!.-$.1,(ı " "ũ!.-ũ+.ũ/1#!#/34 ".ũ#-ũ#+ũ 13ēũ đĉũ "#+ũ ¢"(%.ũ "#ũ 1.!#"(,(#-3.ũ (5(+Ĕũ 8 ũ 04#ũ + ũ !3.1 ũ ' ũ , -(ı $#23 ".ũ !.-ũ )41 ,#-3.ũ + ũ (,/.2( (+(" "ũ "#ũ "#3#1,(- 1ũ #+ũ !34 +ũ".,(!(+(.ũ.ũ1#2("#-!( ũ"#+ũ "#, -" ".Ĕũ2#ũ+#ũ' !#ũ2 #1Ė
Ėũ ũ ũ ũ ũ ũ ũ ũ Ėũ
Ėũ ĖũĈđĊćĐĉćĈćććđČđ
ũ ũ ũ Ėũ ēũ ũ ũ Ėũ ũ ũ ũ Ėũ ũ ũ ũ ĖũŌēũĈĎēĎďđĔćĈ
ũ ũ ũ ũ ũ ũ ēũ , 3.Ĕũ +4-#2ũ đũ "#ũ -.5(#, 1#ũ "#+ũ ĉćĈćĔũ + 2ũ ĈĐ'ČĈēũ ũ Ėũ 4,/+(".ũ #+ũ 1#04#1(,(#-3.ũ "#+ũ 49% ".Ĕũ + ũ "#, -" ũ /1#2#-3 " ũ /.1ũ 2#1ũ +#% +ũ 2#ũ + ũ !#/3 ũ ũ 31;,(3#ũ "#ũ )4(!(.ũ "#ũ ēũ .,.ũ "#ũ + 2ũ $.3.!./( 2ũ !#13($(! " 2ũ / 1#!#ũ 04#ũ ũ ũ ũ Ĕũ 2#ũ #-!4#-ı 31 ũ !.,/1#-"(".ũ "#-31.ũ "#ũ + 2ũ "(2/.2(!(.-#2ũ "#ũ +.2ũ 132ēũ ĎćĒĔũ ĎĈĒũ"#+ũ ¢"(%.ũ"#ũ 1.!#"(,(#-3.ũ (5(+Ĕũ2#ũ"#!+ 1 ũ!.-ũ+4% 1ũ+ ũ$.1ı , !(¢-ũ "#+ũ !.-!412.ũ "#ũ !1##ı ".1#2ũ8ũ2#ũ.1"#- ũ#+ũ"#/¢2(3.ũ"#ũ (#-#2Ĕũ+( 1.2Ĕũ!.11#2/.-"#-!( ũ8ũ ".!4,#-3.2Ĕũ+.2ũ!4 +#2ũ2#ũ#-31#ı % 1;-ũ +ũ ~-"(!.ũ"#ũ+ ũ 4(# 1 ũ 1ēũ ~*3.1ũ .11#2ũ #"(- Ĕũ #-ũ $.1, ũ +#% +ēũ ũ 4#ũ + ũ $.1, !(¢-ũ "#+ũ !.-!412.ũ"#ũ -3#"(!'.ũ2#ũ!.,4ı -(04#ũ +ũ /Ì +(!.ũ /.1ũ ,#"(.ũ "#ũ + ũ /1#-2 ũ #-ũ 4-.ũ "#ũ +.2ũ ( 1(.2ũ 04#ũ 2#ũ #"(3 -ũ #-ũ + ũ !(4" "ũ "#ũ , 3.ēũũ2#ũ2# + 1;ũ"~ Ĕũ'.1 ũ8ũ +4% 1ũ #-ũ 04#ũ 2#ũ !#+# 1#ũ + ũ 4-3 ũ "#ũ !1##".1#2Ĕũ04#ũ2#ũ !4,4+#-ũ 3.".2ũ +.2ũ )4(!(.2ũ #-ũ !.-31 ũ "#ũ + ũ "#4".1 Ĕũ /.1ũ . +(% !(¢-ũ "#ũ " 1ũ .ũ ' !#1Ĕũ / 1 ũ +.ũ 04#ũ 2#ũ .$(!( 1;ũ ũ 3.".2ũ +.2ũ 4#!#2ũ "#ũ +.ũ (5(+ũ "#ũ _23 ũ !(4" "ũ "#ũ , 3.ėũ (%4 +ı ,#-3#ũ.$~!(#2#ũ ũ4-.ũ"#ũ+.2ũ2# .ı 1#2ũ %#-3#ũ (2! +Ĕũ ũ$(-ũ"#ũ04#ũ2#ũ (-(!(#ũ + ũ (-5#23(% !(¢-ũ 1#2/#!3(5 ũ #-ũ .1"#-ũ ũ + ũ ! +($(! !(¢-ũ "#ũ + ũ (-2.+5#-!( ēũũ #ũ/1#5(#-#ũ ũ+ ũ"#4ı ".1 ũ "#ũ -.ũ 42#-3 12#ũ "#+ũ +4% 1ũ 2(-ũ /1#5(.ũ 5(2.ũ "#+ũ 49% ".ėũ 8ũ 04#ũ "#-31.ũ "#ũ .!'.ũ "~ 2ũ "# #ı 1;ũ /1#2#-3 1ũ #+ũ + -!#ũ "#ũ 242ũ (#-#2ũ !.-ũ #7!#/!(¢-ũ "#ũ !3(5.ũ 8ũ / 2(5.Ĕũ #-ũ ! 2.ũ "#ũ -.ũ ' !#1+.Ĕũ 2#ũ , -" 1;ũ $.1, 1ũ + -!#ũ /.1ũ #+ũ ~-"(!.ũ "#ũ + ũ 4(# 1 ũ .ũ /.1ũ 4-.ũ"#ũ+.2ũ !1##".1#2ēũũ 1.'~ 2#ũ ' !#1ũ / %.ũ .ũ #-31#% 2ũ ũ + ũ "#, -" " ũ 2.ũ /#- ũ "#ũ -4+(" "Ĕũ "5(13(_-".2#ũ 04(#-#2ũ 3#-% -ũ (#-#2ũ.ũ/ /#+#2ũ"#+ũ,(2,.ũ04#ũ #23;-ũ #-ũ + ũ . +(% !(¢-ũ "#ũ #-31#ı % 1ũ +ũ ~-"(!.ũ"#ũ+ ũ 4(# 1 Ĕũ(-!4ı 11(1;-ũ #-ũ 1#2/.-2 (+(" "ũ /#- +ēũũ .,.ũ + ũ $ ++(" ũ 04#" ũ "#ũ '#!'.ũ #-ũ+ ũ(-3#1"(!!(¢-ũ"#ũ ",(-(231 1ũ (#-#2Ĕũ-.3($~04#2#ũ!.-ũ#23 ũ/1.ı 5("#-!( ũ ũ +.2ũ 2# .1#2ũ .3 1(.2Ĕũ #%(231 ".1#2ũ "#ũ + ũ 1./(#" "ũ 8ũ #1! -3(+ũ "#ũ #23#ũ ! -3¢-ēũũ $~!(#2#ũ #-ũ (%4 +ũ 2#-3(".ũ ũ +.2ũ 2# .1#2ũ %#1#-3#2ũ "#ũ +.2ũ -!.2ũ 8ũ ../#1 3(5 2ũ "#ũ '.11.ũ 8ũ 1_"(3.ũ"#ũ+ ũ!(4" "ũ"#ũ , 3.Ĕũ 2~ũ !.,.ũ #-ũ + ũ $.1, ũ 1#04#1(" ēũũ 1 ũ +.2ũ $(-#2ũ "#ũ +#8Ĕũ !~3#2#ũ +ũ "#, -" ".ũ ũ ũ ũ Ĕũ /.1ũ ,#"(.ũ "#ũ4-.ũ"#ũ+.2ũ"( 1(.2ũ"#ũ#23 ũ!(4ı " "ũ"#ũ , 3.Ĕũ +ũ3#-.1ũ"#+ũ 13ēũ đĉũ "#+ũ ¢"(%.ũ "#ũ 1.!#"(,(#-3.ũ (5(+Ĕũ ũ$(-ũ"#ũ04#ũ!.-!411 ũ' !#1ũ 5 +#1ũ242ũ"#1#!'.2ũ"#-31.ũ"#ũĉćũ "~ 2ũ ũ / 13(1ũ "#ũ + ũ Ì+3(, ũ /4 +(ı ! !(¢-ēũ ũ -!.1/¢1#2#ũ + ũ ".!4ı ,#-3 !(¢-ũ -#7 ēũ ũ _-% 2#ũ #-ũ !4#-3 ũ + ũ ! 2(++ ũ )4"(!( +ũ .ũ ĎĐēũũ
.ũ 04#ũ "(2/.-%.ũ #-ũ ! +(" "ũ "#ũ
4#9ũ #,/.1 +ēıũ .3($~04#2#ēıũ $Ĺũ 1ēũ 423 5.ũ ¢/#9ũ Ì #9Ĕũ 4#9ũ #,/.1 +ũ "#+ũ 49% ".ũ _/3(,.ũ "#ũ+.ũ (5(+ũ"#ũ , 3.ēũũ #13($(!.ēũ +ũ #!1#3 1(.ē
ũ ũ ũ ũ ũ ũ ēũ ũ , 3.Ĕũ +4-#2ũĉćũ"#ũ"(!(#, 1#ũ"#+ũĉćĈćēũ + 2ũ ĈĐ'ĊĎēũ ũ +ũ #2!1(3.ũ %1_%4#ı 2#ēũ ũ -ũ 5(23 ũ "#ũ +.2ũ 1%4,#-ı 3.2ũ #7/4#23.2ũ /.1ũ 1(2ũ 1 !#+8ũ #1% 1 ũ2#ũ"#2(%- ũ!.,.ũ ~-"(!.ũ "#ũ+ ũ 4(# 1 ũ +ũ 1ēũ (+2.-ũ ,(1.ũ 8.1% ũ 8.1% ēũ04(#-ũ !34 1;ũ "#-31.ũ "#ũ + ũ /1#2#-3#ũ ! 42 ēũ +ũ 3#-.1ũ "#+ũ 13ēũ ĊćĒũ "#+ũ ¢"(%.ũ 1%;-(!.ũ "#ũ + ũ 4-!(¢-ũ 4"(!( +ēũ 8ũ +ũ #-.1ũ"#+ũ 13ēũĎĈĒũ8ũ2(%4(#-ı 3#2ũ"#+ũ ¢"(%.ũ"#ũ 1.!#"(,(#-3.ũ (5(+ēũũ .3($~04#2#ēıũ$Ĺũ 1ēũ 423 5.ũ
¢/#9ũ Ì #9ıũ 4#9ũ #,/.1 +ũ"#+ũ
49% ".ũ _/3(,.ũ "#ũ +.ũ (5(+ũ "#ũ , 3.ēũ #13($(!.ēũũ +ũ #!1#3 1(.ē
.ũ 04#ũ !(3.ũ +ũ "#, -" ".ũ / 1 ũ +.2ũ $(-#2ũ +#% +#2ũ /#13(-#-3#2ėũ ũ $(-ũ"#ũ04#ũ5#(-3#ũ"~ 2ũ"#2/4_2ũ"#ũ + ũÌ+3(, ũ/4 +(! !(¢-ũ2# +#ũ! 2(ı ++#1.ũ )4"(!( +ũ #-ũ #23 ũ !(4" "ũ "#ũ , 3.ũ / 1 ũ 242ũ -.3($(! !(.-#2ēũũ #13($(!.ēũũ +ũ #!1#3 1(.ē (1, ũ +#%( +# 1ēũ 4%.ũ -3.2ũ ';5#9 #!1#3 1(.
, 3.Ĕũ -#1.ũĉĈũ"#+ũ .ũĉćĈĈē 8ũČũ2#++.2 ĒĐđĊĒ
ũ ũ ũ ũ ũ ũ ũ ũ ē ũ ũ ũ ũ ũ Ĕũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ ũ Ĕũ ũ ũ ũ ũ ũ ũ ũ
Ĕũ ũ ũ ē ũ ũĐĊĐıĉćĈĈı ē Ėũ 41 ũ ,(3#+( ũ Ì #9ũ ' , ē Ėũ 1#2("#-3#ũ "#+ũ (1#!3.1(.ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ .!' ũ 4 !'(ũ8ũ.31.2ē ũ ũ ũ Ėũ .-!#2(¢-ũ "#+ũ #1#!'.ũ "#ũ 2.ũ 8ũ /1.5#!' ,(#-3.ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ .!' ũ 4 !'(Ĕũ 4 (! ".ũ #-ũ + ũ / 11.04( ũ 31(9Ĕũ "#+ũ! -3¢-ũ #5 ++.2Ĕũ 1.5(-!( ũ"#ũ 4-%41 '4 Ĕũ %4 2ũ04#ũ2#1;-ũ43(ı +(9 " 2ũ/ 1 ũ1(#%.Ĕũ!.-ũ4-ũ! 4" +ũ "#ũĈđũ+ĵ2ē ē ũ ũ ũ ēıũ ũ ũ ũ ēıũ ũ ũ ēıũ , 3.Ĕũ ũ ĉĉũ "#ũ # 1#1.ũ "#+ũ ĉćĈĈēıũ 2ũ ĈČ Ďćēıũ -ũ +.ũ /1(-ı !(/ +ũ + ũ 2.+(!(34"ũ "#ũ .-!#2(¢-ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ .!' ũ 4 !'(Ĕũ 4 (! ".ũ #-ũ + ũ / 11.04( ũ 31(9Ĕũ "#+ũ ! -3¢-ũ #5 ++.2Ĕũ /1#2#-3 ".ũ /.1ũ + ũ 2# .1 ũ 41 ũ ,(3#+( ũ Ì #9ũ ' , Ĕũ#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 ~3#2#ũ ũ +.2ũ 424 1(.2ũ !.-.!(".2ũ .ũ -.Ėũ 2# .1ũ 1#2("#-3#ũ "#+ũ (1#!3.1(.ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ .!' ũ 4 !'(Ĕũ,#"( -3#ũ!.,(2(¢-ũ+( 1 ı " ũ +ũ 2# .1ũ .,(2 1(.ũ !(.- +ũ "#+ũ -3¢-ũ #5 ++.2ėũ ũ 04(#-ũ 2#ũ +#ũ !.-!#"#ũ #+ũ 3_1,(-.ũ "#ũ đũ "~ 2ũ / 1 ũ !.-3#23 1ũ 2# + -".ũ ".,(ı !(+(.ũ +#% +Ĕũ / 1 ũ $4341 2ũ -.3($(! ı !(.-#2ēıũĉēıũ ~3#2#ũ ũ+.2ũ424 1(.2ũ !.-.!(".2ũ .ũ -.Ėũ 1( - ũ #)~ ėũ
.2_ũ #)~ ėũ 3#+5(- ũ #)~ ũ 8ũ 1(23¢ +ũ 5("ũ (++ !~2ũ ,.1 Ĕũ /.1ũ+ ũ/1#-2 Ĕũ#-ũ4-.ũ"#ũ+.2ũ"( ı 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(!(¢-ũ 8ũ #23 ũ /1.5("#-!( Ĕũ /.1ũ 31#2ũ 5#!#2Ĕũ ,#"( -".ũ"#ũ4- ũ ũ.31 ũ#+ũ/+ 9.ũ "#ũđũ"~ 2ũ"#ũ!.-$.1,(" "ũ!.-ũ#+ũ 13ēũđĐũ"#ũ+ ũ #8ũ"#ũ %4 2ũ8ũ 13ēũ đĉũ "#+ũ ¢"(%.ũ "#ũ 1.!#"(,(#-3.ũ (5(+ēıũĊēıũ 4#ũ2#ũ!(3#ũ ũ+.2ũ424 ı 1(.2ũ !.-.!(".2ũ .ũ -.ũ /.1ũ ! 13#ı +#2ũ 04#ũ 2#ũ $() 1;-ũ #-ũ 31#2ũ "#ũ +.2ũ / 1 )#2ũ ,;2ũ $1#!4#-3 ".2ũ "#+ũ -3¢-ũ #5 ++.2Ĕũ,#"( -3#ũ!.,(ı 2(¢-ũ+( 1 " ũ +ũ2# .1ũ #$#ũ .+~3(!.ũ "#+ũ (-"(! ".ũ ! -3¢-ēıũ 1#5( ũ ũ + ũ /4 +(! !(¢-ũ/.1ũ+ ũ/1#-2 ũ+ ũ/#3(ı !(.- 1( ũ 2# .1 ũ 41 ũ ,(3#+( ũ Ì #9ũ ' , Ĕũ !.,/ 1#9! ũ _23 ũ 4"(! 341 ũ #+ũ /1¢7(,.ũ "~ ũ 5(#1-#2ũ ĉĎũ "#ũ # 1#1.ũ "#+ũ /1#ı 2#-3#ũ .Ĕũ ũ+ 2ũĈĈ ććĔũ ũ"#!+ 1 1ũ ).ũ )41 ,#-3.ũ "#ũ + ũ (-"(5("4 ı +(" "ũ 8ũ 1#2("#-!( ũ "#ũ +.2ũ 2# .ı 1#2ũ 1( - ũ #)~ ėũ .2_ũ #)~ ėũ 3#+5(- ũ #)~ ũ 8ũ 1(23¢ +ũ 5("ũ (++ !~2ũ ,.1 ēı ũ "#2(%- !(¢-ũ "#ũ #1(3.ũ 2#ũ + ũ ' 1;ũ ./.134- ı ,#-3#ēıũ %1_%4#2#ũ + ũ ".!4,#-ı 3 !(¢-ũ ")4-3 ēıũ 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($(! !(¢-ēıũ
.ũ 04#ũ !.,4-(!.ũ +ũ /Ì +(!.ũ #-ũ %#-#1 +ũ/ 1 ũ+.2ũ$(-#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 Ĺ 8ũ4-ũ2#++. ĈĒĎćĒĵĒĐĎĎĐ 44
ũ ũ ũ ũ ũ ũ ē ũ ũ ũ ũ ũ Ĕũ ũ ũ ũ ũ ũ ũ ũ ũ
Ĕũ ũ ũ ũ ũ ũ ũ ũ Ĕũ ũ ũ ũ ũ ũ ũ ũ ũ Ĕũ ũ ũ ē ũ ũĐďČıĉćĈĈı ē Ėũ 1ēũ 1- +".ũ #1-;-ũ .1) ũ +5 1#9ē Ėũ -%#+ũ +.,¢-ũ .-(++ ũ .#++.Ĕũ 1#2("#-3#ũ "#+ũ (1#!3.1(.ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ . ++¢ũ8ũ.31.ē ũ ũ ũ Ėũ .-!#2(¢-ũ"#+ũ #1#!'.ũ"#ũ 2.ũ8ũ /1.5#!' ,(#-3.ũ "#ũ %4 2ũ 04#ũ "(2!411#-ũ /.1ũ + ũ !#04( ũ . ++¢Ĕũ 8ũ 04#ũ 2#ũ "# (3 -ũ /.1ũ #+ũ , +ũ +. , Ĕũ 4 (! " ũ #-ũ + ũ / 11.ı 04( ũ 31(9Ĕũ "#+ũ ! -3¢-ũ (2 +#.Ĕũ
1.5(-!( ũ "#ũ 4-%41 '4 Ĕũ %4 2ũ 04#ũ 2#1;-ũ 43(+(9 " 2ũ / 1 ũ1(#%.Ĕũ!.-ũ4-ũ! 4" +ũ"#ũ ĊćĔđćũ+ĵ2ē ē ũ ũ ũ ēıũ ũ ũ ũ ēıũ ũ ũ ēıũ , 3.Ĕũ ũĈĈũ"#ũ 19.ũ"#+ũĉćĈĈēıũ 2ũ ćĒ ććēıũ ũ !.-.!(ı ,(#-3.ũ"#ũ+ ũ/1#2#-3#ũ! 42 ũ #-ũ,(ũ! +(" "ũ"#ũ ..1"(- ".1ũ #%(.- +ũ #, 1! !(¢-ũ ("1.%1;$(! ũ "#+ũ 23 9 Ĕũ 2#%Ì-ũ + ũ !!(¢-ũ "#ũ /#12.- +ũ .ēũ ĈďćĉĐĉēıũ -ũ +.ũ /1(-!(ı / +ũ + ũ 2.+(!(34"ũ "#ũ .-!#2(¢-ũ "#ũ %4 2ũ 04#ũ "(2!411#-ũ /.1ũ + ũ !#04( ũ . ++¢Ĕũ8ũ04#ũ2#ũ"# (3 -ũ /.1ũ#+ũ , +ũ +. , Ĕũ4 (! " ũ #-ũ + ũ / 11.04( ũ 31(9Ĕũ "#+ũ ! -ı 3¢-ũ (2 +#.Ĕũ /1#2#-3 ".ũ /.1ũ #+ũ 2# .1ũ 1ēũ 1- +".ũ #1-;-ũ .1) ũ +5 1#9Ĕũ #2ũ !+ 1 ũ !.,/+#3 ũ 8ũ 1#Ì-#ũ+.2ũ"#,;2ũ1#04(2(3.2ũ"#ũ+#8ũ /.1ũ +.ũ 04#ũ 2#ũ !#/3 ũ ũ 31;,(3#ēıũ -ũ !.-2#!4#-!( ũ 2#ũ "(2/.-#Ėũ Ĉēıũ ~3#2#ũ ũ+.2ũ424 1(.2ũ!.-.!(".2ũ.ũ -.Ėũ2# .1ũ -%#+ũ +.,¢-ũ .-(++ ũ .#++.Ĕũ 1#2("#-3#ũ"#+ũ (1#!3.1(.ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ . ++¢Ĕũ ,#"( -3#ũ !.,(2(¢-ũ +( 1 " ũ +ũ 2# .1ũ .,(2 1(.ũ !(.- +ũ "#+ũ -3¢-ũ (2 +#.ėũ 8Ĕũ ũ + ũ 2# .1 ũ
#%%(ũ 1( #+ũ 1~ 2ũ #1,#.Ĕũ #-ũ #+ũ +4% 1ũ 04#ũ 2#ũ (-"(! Ĕũ / 1 ũ 04#ũ #-ũ #+ũ 3_1,(-.ũ "#ũ đũ "~ 2ũ !.-ı 3#23#-ũ2# + -".ũ".,(!(+(.ũ+#% +Ĕũ / 1 ũ $4341 2ũ -.3($(! !(.-#2ēıũ ĉēıũ ~3#2#ũ ũ +.2ũ 424 1(.2ũ !.-.!(".2ũ .ũ -.ũ /.1ũ + ũ /1#-2 Ĕũ #-ũ 4-.ũ "#ũ +.2ũ "( 1(.2ũ +ũ #1 +".ũ .ũ ũ .1 ũ 04#ũ 2#ũ #"(3 -ũ #-ũ #23 ũ !(4" "ũ "#ũ , 3.ũ,#"( -3#ũ+ ũ/4 +(! !(¢-ũ "#ũ4-ũ#731 !3.ũ"#ũ#23 ũ/#3(!(¢-ũ8ũ #23 ũ /1.5("#-!( Ĕũ /.1ũ 31#2ũ 5#!#2Ĕũ ,#"( -".ũ"#ũ4- ũ ũ.31 ũ#+ũ/+ 9.ũ "#ũđũ"~ 2ũ"#ũ!.-$.1,(" "ũ!.-ũ#+ũ 13ēũ đĐũ "#ũ + ũ #8ũ "#ũ %4 2ēıũ Ċēıũ 4#ũ2#ũ!(3#ũ ũ+.2ũ424 1(.2ũ!.-.ı !(".2ũ .ũ -.ũ /.1ũ ! 13#+#2ũ 04#ũ 2#ũ $() 1;-ũ#-ũ31#2ũ"#ũ+.2ũ/ 1 )#2ũ,;2ũ $1#!4#-3 ".2ũ"#+ũ -3¢-ũ (2 +#.Ĕũ ,#"( -3#ũ !.,(2(¢-ũ +( 1 " ũ +ũ 2# .1ũ #$#ũ .+~3(!.ũ "#+ũ (-"(! ".ũ ! -3¢-ēıũ ũ"#2(%- !(¢-ũ"#ũ #1(3.ũ 2#ũ+ ũ' 1;ũ#ũ4- ũ$#!' ũ04#ũ./.1ı 34- ,#-3#ũ2#ũ2# + 1;ēıũ _-% 2#ũ #-ũ !4#-3 ũ #+ũ ".,(!(+(.ũ 2# + ".ũ 8ũ + ũ 43.1(9 !(¢-ũ !.-$#1(" ũ +ũ .% ".ũ #$#-2.1ēıũ %1_%4#2#ũ + ũ ".!4,#-3 !(¢-ũ ")4-3 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($(! !(¢-ēıũ
.ũ 04#ũ !.,4-(!.ũ +ũ /Ì +(!.ũ #-ũ %#-#1 +ũ/ 1 ũ+.2ũ$(-#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 Ĺ 8ũ4-ũ2#++. ĈĒĎĈĈĵĒĐĎĐĈ 44
ũ ũ ũ ũ ũ ũ ē ũ ũ ũ ũ ũ Ĕũ ũ ũ ũ ũ ũ ũ ũ ũ ũ Ĕũ ũ ũ ũ ũ ũ ũ ũ Ĕũ ũ ũ ē ũ ũĐĐĈıĉćĈĈı ē Ėũ # .1 ũ .2 1(.ũ #-.5#5 ũ .-3#1.ũ 13~-#9ũ 8ũ .31.2 Ėũ 1#2("#-3#ũ "#+ũ (1#!3.1(.ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ 4-"4%ũ ;, 3#ē ũ ũ ũ Ėũ .-!#2(¢-ũ "#+ũ #1#!'.ũ "#ũ 2.ũ 8ũ /1.5#!' ,(#-3.ũ "#ũ %4 2ũ 04#ũ "(2!411#-ũ /.1ũ + ũ !#04( ũ 4-"4%ũ ;, 3#Ĕũ 4 (! " ũ #-ũ + ũ / 11.04( ũ 31(9Ĕũ "#+ũ ! -3¢-ũ 3 3#Ĕũ 1.5(-!( ũ"#ũ 4-%41 '4 Ĕũ %4 2ũ 04#ũ 2#1;-ũ 43(+(9 " 2ũ / 1 ũ 1(#%.Ĕũ!.-ũ4-ũ! 4" +ũ"#ũĉĊũ+ĵ2ē ē ũ ũ ũ ēıũ ũ ũ ũ ēıũ ũ ũ ēıũ , 3.Ĕũ ũĈďũ"#ũ 19.ũ"#+ũĉćĈĈēıũ
2ũĈĊ ććēıũ ũ!.-.!(,(#-ı 3.ũ "#ũ + ũ /1#2#-3#ũ ! 42 ũ #-ũ ,(ũ ! +(" "ũ"#ũ ..1"(- ".1ũ #%(.- +ũ #, 1! !(¢-ũ ("1.%1;$(! ũ "#+ũ 23 9 Ĕũ 2#%Ì-ũ + ũ !!(¢-ũ "#ũ /#1ı 2.- +ũ ēũ ĈďćĉĐĉēı -ũ +.ũ /1(-!(ı / +ũ + ũ 2.+(!(34"ũ "#ũ .-!#2(¢-ũ "#ũ %4 2ũ "#ũ + ũ !#04( ũ 4-"4%ũ ;, 3#Ĕũ 4 (! " 2ũ #-ũ + ũ / 11.ı 04( ũ 31(9Ĕũ "#+ũ ! -3¢-ũ 3 3#Ĕũ /1#2#-3 ".ũ/.1ũ+ ũ2# .1 ũ .2 1(.ũ #-.5#5 ũ .-3#1.ũ 13~-#9ũ 8ũ .31.2Ĕũ #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#!4#-!( ũ 2#ũ "(2/.-#Ėũ Ĉēıũ ~3#2#ũ ũ +.2ũ 424 1(.2ũ !.-.!(".2ũ 2# .1ũ 1#2("#-3#ũ "#+ũ (1#!3.1(.ũ "#ũ %4 2ũ"#ũ+ ũ !#04( ũ 4-"4%ũ ;, 3#Ĕũ ,#"( -3#ũ !.,(2(¢-ũ +( 1 " ũ +ũ 2# .1ũ .,(2 1(.ũ !(.- +ũ"#+ũ -3¢-ũ 3 3#Ĕũ/ 1 ũ 04#ũ#-ũ#+ũ3_1,(-.ũ"#ũđũ"~ 2ũ!.-ı
āĈ
āĈŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
3#23#ũ 2# + -".ũ ".,(!(+(.ũ +#% +Ĕũ / 1 ũ $4341 2ũ -.3($(! !(.-#2ēıũ ĉēıũ ~3#2#ũ ũ +.2ũ 424 1(.2ũ !.-.!(".2ũ .ũ -.Ĕũ /.1ũ + ũ /1#-2 Ĕũ #-ũ 4-.ũ "#ũ +.2ũ "( 1(.2ũ +ũ #1 +".ũ .ũ ũ .1 ũ 04#ũ 2#ũ #"(3 -ũ #-ũ #23 ũ !(4" "ũ "#ũ , 3.ũ,#"( -3#ũ+ ũ/4 +(! !(¢-ũ "#ũ4-ũ#731 !3.ũ"#ũ#23 ũ/#3(!(¢-ũ8ũ #23 ũ /1.5("#-!( Ĕũ /.1ũ 31#2ũ 5#!#2Ĕũ ,#"( -".ũ"#ũ4- ũ ũ.31 ũ#+ũ/+ 9.ũ "#ũđũ"~ 2ũ"#ũ!.-$.1,(" "ũ!.-ũ#+ũ 13ēũ đĐũ "#ũ + ũ #8ũ "#ũ %4 2ēıũ Ċēıũ 4#ũ2#ũ!(3#ũ ũ+.2ũ424 1(.2ũ!.-.ı !(".2ũ .ũ -.ũ /.1ũ ! 13#+#2ũ 04#ũ 2#ũ $() 1;-ũ#-ũ31#2ũ"#ũ+.2ũ/ 1 )#2ũ,;2ũ $1#!4#-3 ".2ũ "#+ũ -3¢-ũ 3 3#Ĕũ ,#"( -3#ũ !.,(2(¢-ũ +( 1 " ũ +ũ 2# .1ũ #$#ũ .+~3(!.ũ "#+ũ (-"(! ".ũ ! -3¢-ēıũ ũ"#2(%- !(¢-ũ"#ũ #1(3.ũ 2#ũ+ ũ' 1;ũ#ũ4- ũ$#!' ũ04#ũ./.1ı 34- ,#-3#ũ2#ũ2# + 1;ēıũ _-% 2#ũ #-ũ !4#-3 ũ #+ũ ".,(!(+(.ũ 2# + ".ũ 8ũ + ũ 43.1(9 !(¢-ũ !.-$#1(" ũ ũ + ũ .% " ũ #$#-2.1 ēũıũ %1_%4#2#ũ + ũ ".!4,#-3 !(¢-ũ ")4-3 Ĕũ "#2ı %+¢2#2#ũ+ ũ,(2, Ĕũ"#) -".ũ!./( 2ũ #-ũ 43.2Ĕũ"#54_+5 2#ũ+.2ũ.1(%(- ı +#2ēıũ #ũ 2#-3 1;ũ + ũ 1 9¢-ũ !.11#2ı /.-"(#-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~-#9ēı 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($(! !(¢-ēıũ
.ũ 04#ũ !.,4-(!.ũ +ũ /Ì +(!.ũ #-ũ %#-#1 +ũ/ 1 ũ+.2ũ$(-#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 Ĺ 8ũ4-ũ2#++. ĈĒĎĈĎĵĒĐĎĐđ
ēũ ũ ēı ũ ũ ũ ũ ũ
ũ ũ ũ ũ ũ ũ
ũ ũ ũ ũ ũ
ũ ũ ũ ũ ũ ũ ũ ũ ũ ēı
Ėũ ũ ũ ũ
ũ ũ Ėũ ĉćĈćũ ćđČĐ ũ ũ
Ėũ Ėũ ũ ũ ũ Ėũ ũ ũ ũ
ũ ũ ũ ũ ũ ũ ēũ , 3.Ĕũ +4-#2ũ đũ "#ũ -.5(#, 1#ũ "#+ũ ĉćĈćĔũ + 2ũ ĈĈ'Ďćēũ ũ Ėũ ũ "#, -" ũ /1#2#-3 ũ /1#2#-3 " ũ /.1ũ ũ ũ ũ ũ#2ũ!+ 1 ũ8ũ1#Ì-#ũ+.2ũ 1#04(2(3.2ũ"#ũ #8ėũ#-ũ!.-2#!4#-ı !( ũ 2#ũ + ũ ",(3#ũ +ũ 31;,(3#ũ "#ũ -2.+5#-!( ũ .-ũ + 2ũ !./( 2ũ !#1ı 3($(! " 2ũ /1#2#-3 " 2Ĕũ / 1#!#ũ 04#ũ 2#ũ #-!4#-31 ũ !.,/1#-"(".ũ "#-31.ũ "#ũ + 2ũ "(2/.2(!(.-#2ũ "#ũ +.2ũ 132ēũĎćĒũ8ũĎĈĒũ"#+ũ ¢"(%.ũ"#ũ 1.!#"(,(#-3.ũ (5(+Ĕũ 2#ũ "#!+ 1 ũ !.-ũ +4% 1ũ + ũ $.1, !(¢-ũ "#ũ !.-ı !412.ũ"#ũ !1##".1#2ũ8ũ2#ũ.1"#- ũ #+ũ "#/¢2(3.ũ "#ũ +.2ũ (#-#2Ĕũ +( 1.2Ĕũ !.11#2/.-"#-!( ũ 8ũ ".!4,#-ı 3.2ũ +.2ũ !4 +#2ũ 2#ũ #-31#% 1;-ũ +ũ ~-"(!.ũ "#ũ + ũ 4(# 1 ũ 1ēũ (*3.1ũ .11#2Ĕũ #-ũ $.1, ũ +#% +ėũ 04#ũ + ũ $.1, !(¢-ũ "#+ũ !.-!412.ũ -3#"(ı !'.ũ2#ũ!.,4-(04#ũ +ũ/Ì +(!.Ĕũ/.1ũ ,#"(.ũ"#ũ+ ũ/1#-2 ũ"#ũ4-.ũ"#ũ+.2ũ "( 1(.2ũ04#ũ2#ũ#"(3 -ũ#-ũ#23 ũ!(4ı " "ũ"#ũ , 3.Ĕũ2#ũ2# + 1;ũ"~ Ĕũ '.1 ũ8ũ+4% 1ũ#-ũ04#ũ2#ũ!#+# 1#ũ+ ũ )4-3 ũ"#ũ !1##".1#2Ĕũ04#ũ2#ũ !4ı ,4+#-ũ3.".2ũ+.2ũ)4(!(.2ũ#-ũ!.-31 ũ "#+ũ"#4".1Ĕũ/.1ũ. +(% !(¢-ũ"#ũ" 1ũ .ũ' !#1Ĕũ/ 1 ũ+.ũ04#ũ2#ũ.$(!( 1;ũ ũ +.2ũ2# .1#2ũ 4#!#2ũ"#ũ+.ũ (5(+ũ"#ũ _23 ũ !(4" "ėũ (%4 +,#-3#ũ .$~!(#2#ũ ũ 4-.ũ "#ũ +.2ũ 2# .1#2ũ %#-3#2ũ (2! +#2ũ"#ũ+ ũ!(4" "ũ"#ũ , 3.ũ ũ $(-ũ "#ũ 04#ũ 2#ũ (-(!(#ũ + ũ (-5#23(ı % !(¢-ũ 1#2/#!3(5 ũ #-ũ .1"#-ũ ũ + ũ ! +($(! !(¢-ũ"#ũ+ ũ(-2.+5#-!( ēũũ #ũ /1#5(#-#ũ +ũ"#4".1ũ"#ũ-.ũ 42#-ı 3 12#ũ "#+ũ +4% 1ũ 2(-ũ /1#5(.ũ 5(2.ũ "#+ũ )49% ".ėũ 8ũ 04#ũ "#-31.ũ "#ũ .!'.ũ"~ 2Ĕũ"# #1;ũ/1#2#-3 12#ũ#+ũ + -!#ũ"#ũ242ũ (#-#2ũ!.-ũ#7!#/ı !(¢-ũ "#ũ !3(5.ũ 8ũ / 2(5.Ĕũ #-ũ ! 2.ũ "#ũ -.ũ ' !#1+.Ĕũ 2#ũ , -" 1;ũ $.1ı , 1ũ + -!#ũ/.1ũ#+ũ ~-"(!.ũ"#ũ+ ũ 4(# 1 ũ .ũ /.1ũ 4-.ũ "#ũ +.2ũ !1##ı ".1#2ēũ ũ 1.'~ 2#ũ ' !#1ũ / %.2ũ .ũ #-31#% 2ũ +ũ "#, -" ".ũ 2.ũ /#- ũ "#ũ-4+(" "ũ "5(13(_-".2#ũ ũ04(#ı -#2ũ 3#-% -ũ (#-#2ũ .ũ / /#+#2ũ "#+ũ ,(2,.Ĕũ 04#ũ #23;-ũ #-ũ + ũ . +(% ı !(¢-ũ"#ũ#-31#% 1ũ +ũ ~-"(!.Ĕũ(-!4ı 11(1;-ũ #-ũ 1#2/.-2 (+(" "ũ #- +ēũũ .,.ũ #+ũ $ ++(".ũ 04#" ũ "#ũ '#!'.ũ #-ũ+ ũ(-3#1"(!!(¢-ũ"#ũ ",(-(231 1ũ (#-#2ũ -.3($~04#2#ũ !.-ũ #23 ũ /1.ı
5("#-!( ũ ũ +.2ũ 2# .1#2ũ .3 1(.2Ĕũ #%(231 ".1ũ "#ũ + ũ 1./(#" "ũ 8ũ #%(231 ".1ũ #1! -3(+ũ "#ũ #23#ũ ! -3¢-ėũ .$~!(#2#ũ #-ũ (%4 +ũ ũ 2#-ı 3(".ũ ũ +.2ũ 2# .1#2ũ #1#-3#2ũ "#ũ +.2ũ -!.2ũ 8ũ "#ũ + 2ũ #-3(" "#2ũ $(- -!(#1 2ũ "#ũ + ũ +.! +(" "ũ / 1 ũ " 1ũ !4,/+(,(#-3.ũ !.-ũ + ũ #8ēũũ .1ũ !4 -3.ũ 2#ũ ' ũ "#!+ 1 ".ũ ).ũ )41 ,#-3.ũ + ũ (,/.2( (+(" "ũ "#ũ "#3#1,(- 1ũ + ũ 1#2("#-!( ũ "#+ũ "#, -" ".ũ !~3#2#ũ /.1ũ + ũ /1#-2 ũ +.! +ũ ũ ũ ũ ũ ũ "#ũ !.-$.1,(" "ũ !.-ũ +.ũ 04#ũ "#3#1,(- ũ #+ũ 13ēũ đĉũ "#+ũ ¢"(%.ũ "#ũ 1.!#"(,(#-3.ũ (5(+Ĕũ #+ũ ,(2,.ũ 04#ũ /."1;ũ ./.-#12#ũ ũ #23 ũ "#!+ 1 3.1( Ĕũ / % -".ũ + ũ ! -3(" "ũ "#4" " ũ .ũ "(,(3(#-".ũ (#-#2ũ #04(5 +#-3#2Ĕũ "#-31.ũ "#+ũ 3_1,(-.ũ "#ũ 31#2ũ "~ 2ũ +4#%.ũ "#ũ !(3 ".ũ +#% +,#-3#ēũ ũ %1_%4#2#ũ +ũ /1.!#2.ũ + ũ ".!4,#-3 !(¢-ũ ")4-3 ēũ ũ ¢,#2#ũ #-ũ !4#-3 ũ + ũ ! 2(++ ũ )4"(!( +ũ 2# + " ũ / 1 ũ /.23#1(.1#2ũ -.3($(! !(.-#2ēũũ ~3#2#ũ 8ũ -.3($~04#2#ũ $Ĺũ 1ēũ 4(2ũ (++ !~2ũ -2#!.ũ 4#9ũ #73.ũ "#ũ +.ũ (5(+ũ "#ũ 4-%41 '4 Ĕũ #13($(! ũ #+ũ #!1#3 1(.ũ$Ĺũ 1ēũ .1%#ũ 11(++.ũ ēı
ũ ũ ũ ũ ũ ũ ēũ , 3.ēũ )4#5#2ũĈĈũ"#+ũ-.5(#, 1#ũ"#+ũĉćĈćĔũ + 2ũĈĐ'Čĉēũũ #ũ.$(!(.Ĕũ2#ũ !+ 1 ũ+ ũ /1.5("#-!( ũ -3#1(.1Ĕũ #-ũ #+ũ 2#-ı 3(".ũ "#ũ 04#Ĕũ ũ ũ ũ ũ 2#ũ #-!4#-31 ũ !.,/1#-"(".ũ "#-31.ũ "#ũ + 2ũ "(2ı /.2(!(.-#2ũ "#ũ +.2ũ 132ēũ ĎćĒũ 8ũ ĎĈĒũ"#+ũ ¢"(%.ũ"#ũ 1.!#"(,(#-3.ũ (5(+ēũ .3($~04#2#ēıũ $Ĺũ 1ēũ 4(2ũ (++ !~2ũ -2#!.ũ 4#9ũ #73.ũ"#ũ+.ũ (5(+Ĕũ #13($(! ũ#+ũ #!1#3 1(.ũ$Ĺũ 1ēũ
.1%#ũ 11(++.ũ ēı
ũ ũ ũ ũ ũ ũ ēıũ , 3.Ĕũ
4#5#2ũ Ĉđũ "#ũ -.5(#, 1#ũ "#+ũ ĉćĈćēıũ+ 2ũćĒ'Ĉćēıũ +ũ#2!1(3.ũ04#ũ -3#!#"#ũ %1_%4#2#ũ ũ+.2ũ 43.2ēũũ -ũ 5(23 ũ "#+ũ ,.3(5.ũ (-"(! ".ũ "#) -".ũ (-24 2(23#-3#ũ #+ũ -.,ı 1 ,(#-3.ũ "#+ũ 1ēũ ~*3.1ũ .11#2ũ #"(- ũ#-ũ! +(" "ũ"#ũ ~-"(!.ũ"#ũ 4(# 1 ũ2#ũ-., 1 ũ#-ũ24ũ+4% 1ũ +ũ 1ēũ .2_ũ 23(++.ũ #+ 2!.Ĕũ ũ04(#-ũ 2#ũ "# #1;ũ -.3($(! 1ũ !.-ũ 3.".ũ +.ũ !34 ".ēıũ .3($~04#2#ēıũ $Ĺũ 1ēũ
4(2ũ (++ !~2ũ -2#!.Ĕũ #13($(! ũ #+ũ #!1#3 1(.ũ$Ĺũ 1ēũ .1%#ũ 11(++.ũ ēũ $Ĺũ 1ēũ 4(2ũ (++ !~2ũ -2#!.ũ
4#9ũ #73.ũ "#ũ +.ũ (5(+Ĕũ #13($(! ũ #+ũ #!1#3 1(.ũ$Ĺı 1ēũ .1%#ũ 11(++.ũ ēı 13(!4+ 1ũ 04#ũ /.-%.ũ #-ũ !.-.!(ı ,(#-3.ũ/ 1 ũ+.2ũ$(-#2ũ"#ũ+#8ēı , 3.Ĕũ (!(#, 1#ũĈĐũ"#+ũĉćĈćēı (1, ũ +#%( +# ēũ ũ
ũ ē 8ũ4-ũ2#++. ĒĐđĊđ
ũ ũ
ũ ũ ũ ũ !.,4-(ı ! ũ 04#ũ /.1ũ ' #12#ũ #731 5( ".ũ + ũ +( 1#3 ũ .ēũ ĈćĈČĊĊĒďĒĉũ /#1ı 3#-#!(#-3#ũ ũ ũ ũ ũ ũ2#ũ/1.!#ı "#ũ ũ24ũ -4+ !(¢-ē ŇĒĐđĊď 44
ũ ũ
ũ ũ ũ ũ !.,4-(ı ! ũ04#ũ/.1ũ' #12#ũ#731 5( ".ũ+ ũ +( 1#3 ũ .ēũ ĈćĊđĊĒďćĉĎũ /#13#ı -#!(#-3#ũ ũ ũ ũ
ũ ũ 2#ũ /1.!#"#ũ ũ 24ũ -4+ !(¢-ē ŇĒĐđĊď 44
ũ ũ
ũ ũ ũ ũ !.,4-(ı ! ũ 04#ũ /.1ũ ' #12#ũ #731 5( ".ũ + ũ +( 1#3 ũ .ēũ ĈćĊĒĒĈĊđĐĉũ /#1ı 3#-#!(#-3#ũ ũ ũ ũ ũ ũ 2#ũ /1.!#"#ũ ũ 24ũ -4+ !(¢-ē ŇĒĐđĊď
Ä Ä‰
Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
#Ŋ!4,/+(¢Ŋ!.-Ŋ#+Ŋ !.,/1.,(2.Ŋ"#Ŋ /1#,( 1Ŋ Ŋ+ 2Ŋ! -Ĺ "(" 3 2Ŋ04#Ŋ /.1Ĺ 3 -Ŋ!.-Ŋ24Ŋ #++#9 ē $
9ece h[YedeY_c_[dje \hWj[hde W ik fWhj_Y_fWY_Œd [d [b Y[hjWc[d ]WbWdj[ Z[ [b[YY_Œd Z[ bW dk[lW ieX[hWdW Z[ bei fWjWj[‹ei" bWi ]kWfWi fWhj_Y_fWdj[i h[Y_X_[# hed fh[c_ei [if[Y_Wb[i feh fWhj[ Z[ bWi Wkjeh_ZWZ[i YWdjedWb[i$ Bei YedY[`Wb[i 7bZ[cWh D‘‹[p o CWhYe 7hWk`e" _dj[]hWdj[i Z[ bW
, ( -Ĺ‹*, '#)-Ĺ‹* , Ĺ‹ & -Ĺ‹ & -Ĺ‹ Ĺ‹ . . Yec_i_ÂŒd [dYWh]WZW Z[ bW h[Wb_# pWY_ÂŒd Z[b [l[dje Z[ [b[YY_ÂŒd Z[ h[_dW Z[ FWjWj[ (&'& Ă„ (&''" h[W# b_pWhed bW [djh[]W \ehcWb Z[ bei fh[c_ei W bWi YkWjhe fh_dY_fWb[i [cXW`WZehWi Z[ bW X[bb[pW$ 9WZW kde Z[ bei fh[c_ei Yedi# jWXW Z[ kd l_W`[ feh Zei deY^[i o jh[i Z‡Wi W 8W^‡W Z[ 9Wh|gk[p" fhel_dY_W Z[ CWdWX‡ o kd `k[]e Z[ `eoWi Z[ fbWjW fWhW YWZW kdW Z[ [bbWi$ 9h_ij_dW 9kdWcW" h[_dW YWd# jedWb1 AWh[d =WhY‡W" fWjhedWje
3.2 1#,(.2
Ĺ -Ŋ5( )#Ŋ/.1Ŋ".2Ŋ-.!'#2Ŋ8Ŋ31#2Ŋ"~ 2Ŋ Ŋ '~ Ŋ"#Ŋ 1;04#9ē Ĺ -Ŋ+ Ŋ/1.5(-!( Ŋ"#Ŋ - ~ēŊ Ĺ -Ŋ)4#%.Ŋ"#Ŋ).8 2Ŋ"#Ŋ/+ 3 Ŋ/ 1 Ŋ! " Ŋ4- Ŋ"#Ŋ #++ 2ē
;b YedY[`Wb D‘‹[p cWd_\[i# jÂŒ gk[ bW ckd_Y_fWb_ZWZ [ij| WX_[hjW W WfeoWh YkWbgk_[h j_fe Z[ fheo[Yjei gk[ bWi h[fh[i[d# jWdj[i Z[ bW X[bb[pW fhefed]Wd [d X[d[Ă’ Y_e Z[ bei i[Yjeh[i c|i Z[ifhej[]_Zei$
:[ [ijW cWd[hW i[ Ykcfb_ÂŒ Yed [b Yecfhec_ie Z[ fh[c_Wh W bWi YWdZ_ZWjWi gk[ W‹e jhWi W‹e WfehjWd i_]d_Ă’ YWj_lWc[dj[ fWhW _cfkbiWh [b Z[iWhhebbe Z[ bWi WYj_l_ZWZ[i \[ij_lWi Z[b ĂˆLW# bb[ Z[ bW ;j[hdW Fh_cWl[hWÉ$
Ckd_Y_fWb1 7hWY[bo 9W_Y[Ze" i[‹eh_jW Jkh_ice Ckd_Y_fWb1 o :W_io BŒf[p" i[‹eh_jW 9kbjkhW" h[# Y_X_[hed Yed ckY^e W]hWZe [ijei Z[jWbb[i$
(/ *2%,(512 081,&,3$/ '( 02&+$ &216,'(5$1'2 * $ , () ' ! ( 2$'
/(7,&,$ 62/('$' (63,12=$ *$5&e6
!*()' #) ' #) ! ($ + !! #( * ( #* ()'$ ' "$' ! ' '#$( ! $!$' &* " ' ) # '' % ' ! %0'
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xD 9DOOH $/&$/'( &$1721$/
'U +HFWRU %ROtYDU 3LFR 3 6(&5(7$5,2 *(1(5$/
ēŊ -23 -3#2Ŋ#-Ŋ04#Ŋ#+Ŋ#"(+Ŋ 1!.Ŋ 1 4).Ŋ#-31#% Ŋ#+Ŋ/1#,(.Ŋ1#2/#!3(5.Ŋ Ŋ 1(23(- Ŋ 4- , ĔŊ1#(- Ŋ"#Ŋ 3 3#ē
)), #( (Ĺ‹ -.#0# Ä“ ;ij[ `k[l[i Wdj[h_eh i[ Z_e kdW dk[lW h[kd_ÂŒd Z[b 9ec_jƒ Z[ <_[ijWi Z[ F[# b_b[e [d bW gk[ bei f[b_b[‹ei YeehZ_dWd bWi WYY_ed[i W [cfh[dZ[h [d [b cWhYe Z[ bW Y[b[XhWY_ÂŒd Z[ kd dk[le Wd_# l[hiWh_e Z[ YWdjed_pWY_ÂŒd$ <WX_|d HWcei" Z_h[Yjeh ;`[Ykj_le" i[ ceijhÂŒ Yec# fbWY_Ze Z[ eXi[hlWh [b Wfeoe Z[ bWi [dj_ZWZ[i o bW ][dj[ Z[b YWdjÂŒd [d [ijW h[kd_ÂŒd$ F[i[ W gk[ bWi \[ij_l_ZW# Z[i WhhWdYWd [d [b c[i Z[ `kd_e" [d [ij[ YWdjÂŒd fbWd_# \_YWd Z[iZ[ oW bei fei_Xb[i fhe]hWcWi W Z[iWhhebbWhi[ [d [ijW Y_kZWZ$ : ĹŠ ,.2ĔŊ"(1#!3.1ĹŠ )#!43(5.ĹŠ#+ĹŠ
!.,(3_ĹŠ"#ĹŠ (#23 2ĹŠ"#ĹŠ #+(+#.Ä“
/$ $62&,$&,Ă?1 '( (03/($'26 '(/ ,/8675( 081,&,3,2 '(/ &$17Ă?1 &(9$//26 3URIXQGDPHQWH FRQVWHUQDGRV SRU HO VHQVLEOH IDOOHFLPLHQWR GH OD 6HxRUD
/(7,&,$ 62/('$' (63,12=$
! ! " #
3$= (1 68 780%$
Ĺ‡ÄˆÄŽÄ?Ďĉ
'UD -DQHWK *XHYDUD 3UHVLGHQWD
6U 2OLPSR 1DUDQMR 6HFUHWDULR
(/ &(1752 '( (16(f$1=$ '( /(1*8$6 (;75$1-(5$6
& ( / ( (1 68 18(92 /2&$/ &DOOH 68&5( 1R \ 0$57,1(= DO ODGR GH KHODGHUtD 6ZHHW .LVV (GLILFLR 0RQH\ *UDP 3ULPHU SLVR DOWR $QXQFLD OD DSHUWXUD GH ORV FXUVRV LQWHQVLYRV GH ,1*/e6 , ,, ,,, ,9 \ 9 QLYHOHV )5$1&e6 , ,, ,,, \ ,9 QLYHOHV $/(0Ăˆ1 , \ ,, QLYHOHV 35(3$5$&LĂ?1 3$5$ 72()/ ,(/76 '(/) '$/) LQJUHVR D FROHJLR \ XQLYHUVLGDG
',&7$'26 325 352)(625(6 (;75$1-(526 &XUVRV SDUD QLxRV HQ JUXSRV SRU HGDG ,1)250$&,Ă?1 ( ,16&5,3&,21(6 ORFDO GHO & ( / ( &DOOH 6XFUH \ 0DUWtQH] 3ULPHU SLVR DOWR WHOI 3 0 +25$5,2 '( ,16&5,3&,21(6 'HO DO GH DEULO GHO K22 K22 \ K22 K22 &832 /,0,7$'2
)Ĺ‹' $),Ĺ‹ Ĺ‹ & Ĺ‹ )'# ., # #)( & Ä“
Bei h[fh[i[djWdj[i Z[ bW WieY_WY_Œd Gk_dbWjW _d# l_jWd W jeZW bW Yeb[Yj_l_ZWZ fWhW gk[ WYkZW [ij[ Zec_d]e Wb fWhgk[ Y[djhWb Z[b YWdjŒd W fWhj_Y_fWh Z[ bW \[h_W Z[ fbW# jei j‡f_Yei" fbWdjWi o \hkjWi gk[ [ijWh|d W Z_ifei_Y_Œd Z[ bei l_i_jWdj[i Z[iZ[ ^ehWi Z[ bW cW‹WdW$ ;ijW \[h_W i[ Z[iWhhebbW YWZW gk_dY[ Z‡Wi" feh be gk[ [i fWhj_YkbWh eXi[hlWh bWi YWhfWi gk[ i[ kX_YWd [d [b Y[djhe Z[ bW khX[" W bW [if[# hW Z[ gk[ fhef_ei o [njhW‹ei Wfeo[d bW _d_Y_Wj_lW Z[ [ijW WieY_WY_Œd$
#11#3#1~ Ŋ '(,%ĔŊ/#-"(#-3#Ŋ Ŋ + 2Ŋ-#!#2(" "#2Ŋ"#+Ŋ!.-2314!3.1
ƒ Ĺ? Ĺ? § Ä ÄˆĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ä ÄŠ
-ĹŠ+4% 1ĹŠ"(2/4#23.ĹŠ ĹŠ2#15(1+#ĹŠ+.2ĹŠÄŠÄ?ÄŽĹŠ"~ 2ĹŠ "#+ĹŠ  .ĔŊ5(2~3#+.ĹŠ8ĹŠ!.-.9! ĹŠ3.".ĹŠ+.ĹŠ04#ĹŠ+#ĹŠ .$1#!#ĹŠ#-ĹŠ, 3#1( +#2ĹŠ/ 1 ĹŠ+ ĹŠ!.-2314!!(¢-Ä“
7cXWje ^WY[ ckY^e j_[cfe i[ f[hiedWi gk[ feh iki c‘bj_fb[i ^W ]WdWZe kd fh[ij_]_e o h[Yede# eXb_]WY_ed[i de j_[d[d [b j_[cfe Y_c_[dje W [iYWbW dWY_edWb feh ik ikĂ’ Y_[dj[ Z[ WYkZ_h W h[Wb_pWh iki cel_c_[dje Yec[hY_Wb" [ije ]hW# YecfhWi [djh[ i[cWdW$ Y_Wi Wb [if‡h_jk Z_d|c_Ye Z[ ik ][dj[ o bW dWjkhWb[pW ][e]h|Ă’ YW ,/.13 -3#ĹŠ +( ". [d bW gk[ i[ [dYk[djhW$ ;ijW [cfh[iW [i Z[Z_YWZW W bW 7b [ijWh [ijhWjƒ]_YWc[dj[ kX_# Yec[hY_Wb_pWY_ÂŒd Z[ fheZkYjei YWZW [i kd fWie eXb_]WZe fWhW bW YedijhkYY_ÂŒd e h[# fWhW bWi f[hiedWi gk[ l_W# ĹŠ ceZ[bWY_ÂŒd Z[b ^e]Wh$ `Wd ^WijW bWi fhel_dY_Wi Z[ Ik b‡d[W Z[ fheZkYjei F_Y^_dY^W" 9ejefWn_" 9^_c# [ij| Yecfk[ijW Z[ cWhYWi XehWpe o 8eb‡lWh1 o [ije i_d 23 ĹŠ$#11#3#1~ ĹŠ Z[ h[decXh[ _dj[hdWY_edWb 3(#-"#ĹŠ"#ĹŠ ZkZW ^WY[ gk[ [b Yec[hY_e ćđĖććŊ ĹŠÄˆÄŒÄ–Ä‡Ä‡ĹŠ gk[ ied i_dÂŒd_ce Z[ ]W# ".2ĔŊ i[ W]_b_j[ o [b cel_c_[dje +.2ĹŠ2; ".,(-%.2ĹŠ8ĹŠ$#1(Äą hWdj‡W" YWb_ZWZ o [b[]WdY_W [YedÂŒc_Ye gk[ ][d[hW i[W ".2ēŊ [djh[ bWi YkWb[i i[ Z[ijWYWd Yedi_Z[hWZe Z[ ]hWd _c# J;A7 Yed ik b‡d[W Z[ YeY_# fehjWdY_W fWhW bWi Ă’ dWdpWi dWi" ^ehdei o [njhWYjeh[i1 Z[b fW‡i$ ;:;I7 Yed kdW ]WcW Yecfb[jW ;d h[ifk[ijW W [ij[ ]hWd Z[ iWd_jWh_ei1 kdW i[YY_ÂŒd cel_c_[dje Yec[hY_Wb o ĹŠ Z[Z_YWZW W bW _bkc_dWY_ÂŒd Yed kd i[dj_Ze Z[ Yec# Yed kd [b[]Wdj[ ijeYa Z[ fhec_ie W bW Yeb[Yj_l_ZWZ" fheZkYjei Yece b|cfWhWi [b =hkfe <[hh[j[he 9^_c] #11#3#1~ ĹŠ '(,%ĹŠ #23;ĹŠ4 (! " ĹŠ#-ĹŠ jWdje fWhW _dj[h_eh[i Yece fed[ W Z_ifei_Y_ÂŒd Z[ bW + ĹŠ 5#-(" ĹŠ+.2ĹŠ [nj[h_eh[i1 o kd i_dd‘c[# YedijhkYY_ÂŒd ik Wj[dY_ÂŒd /4+~#2ĹŠ8ĹŠ+ ĹŠ hei Z[ del[ZWZ[i gk[ Z[ #+(!( ēŊ _d_dj[hhkcf_ZW bei ),+ Z‡Wi i[]khe b[ cej_lWh|d W ZWhb[ Z[b W‹e" Yed [b W\|d Z[ iW# ejhe [ij_be W ik ^e]Wh$ j_i\WY[h bWi d[Y[i_ZWZ[i o [if[Y_Wb# Feh ejhW fWhj[" bW YWb_ZWZ [d c[dj[ Xh_dZWh i[hl_Y_e W Wgk[bbWi Wi[ieh‡W gk[ e\h[Y[ [ijW [cfh[iW
ēŊ 23#Ŋ+.! +Ŋ+#Ŋ.$1#!#Ŋ3.".Ŋ+.Ŋ04#Ŋ#+Ŋ!.-2314!3.1Ŋ-#!#2(3 Ŋ/ 1 Ŋ24Ŋ. 1 ĔŊ!.-Ŋ+ 2Ŋ,#).1#2Ŋ, 1! 2Ŋ"#+Ŋ,#1! ".ēŊ
[i ik fkdje c|i \k[hj[ fk[i Yk[d# h[Yec[dZWhb[ be c[`eh fWhW ik jW Yed [gk_fe fhe\[i_edWb Z[ Wi[# ^e]Wh o fWhW ik Xebi_bbe$ FWhW _dY[dj_lWh W iki Z_ij_d# ieh[i fWhW jeZWi iki b‡d[Wi" gk_[# d[i i_d ZkZW b[ ]k_Wh|d o iWXh|d ]k_Zei Yb_[dj[i" [ijW [cfh[iW
&$/()Ă?1 ,1'8675,$/
&$/()21 '20(67,&2 0$67(50$,'
7,1$6 '( +,'520$6$-(
*5$1,72
,QVWDODFLyQ *5$7,6
3,62 )/27$17(
38(57$6 0(7É/,&$6 %/,1'$'$6 '( $/7$ 6(*85,'$'
32/,&$5%21$72
9$5,26 &2/25(6 /$03$5$6 '(6&8(172
,QVWDODFLyQ *5$7,6
9$5,26 &2/25(6
(63(-26
\h[Yk[dj[c[dj[ e\h[Y[ WjhWYj_lei Z[iYk[djei o fheceY_ed[i gk[ ied Z[ ]hWd kj_b_ZWZ fWhW gk_[d[i XkiYWd YWb_ZWZ$
GtDV D VX VHUYLFLR +RUDULR GH DWHQFLyQ
/XQHV D 9LHUQHV GH K ² K
6É%$'26 '20,1*26 < )(5,$'26 K ² K $WHQFLyQ LQLQWHUUXPSLGD
ÄŻÄƒÄ Ä€ĂżÄ
6HUi XQ SODFHU VHUYLUOH $Y 5RGULJR 3DFKDQR \ /D 'HOLFLD
Čć! (-!+ēũ ũũĈĐũũ ũ ũ ũĉćĈĈ
4-%41 '4
Čćũ :
ũ
ũ ũ ũ ĥ ũ Ħũ
'.- 3 -ũ 21 #+ũ #1!';-Ĕũ"#ũĈđũ .2Ĕũ$4#ũ 2#2(- ".ũ!.-ũ5 1( 2ũ/4ı + " 2ũ#-ũ#+ũ!4#1/.ėũ,(#-31 2ũ04#ũ 24ũ'#1, -.ũ (,#ũ 1, -".ũ #1ı !';-Ĕũ$4#ũ%.+/# ".ũ#-ũ4- ũ/#+# ũ 04#ũ/.1ũ/.!.ũ3 , (_-ũ+#ũ!4#23 ũ+ ũ 5(" Ĕũ#+ũ(-!("#-3#ũ.!411(¢ũ+ ũ, "14ı % " ũ"#ũ 8#1ē ;%(- ũ ĈĊ
+ũĥ ."(+++.Ħũ2(%4#ũ (-5(!3.ũ8ũ/4-3#1.
.2ũ'#1(".2ũ#-ũ!'.04#
ũ(,/14"#-!( ũ"#ũ4-ũ,#-.1ũ"#ũ#" "ũ 04#ũ-.ũ1#2/#3¢ũ+ ũ+49ũ1.) ũ"#+ũ2#,;$.1.Ĕũ /1.5.!¢ũ4-ũ !!("#-3#ũ"#ũ31;-2(3.ũ#-ũ+ 2ũ 5#-(" 2ũ .2ũ -! 2ũ8ũ (!'(-!' Ĕũ 8#1ũ ũ+ 2ũ ĈĎĖĊćēũ ;%(- ũ ĈĊ
-ũ!.3#).ũ,48ũ1# (".ũ1#24+3¢ũ 8#1ũ#+ũ#-ı !4#-31.ũ#-31#ũ4-(5#12(3 1(.2ũ8ũ!#,#-3#1.2Ĕũ "#) -".ũ4-ũ1#24+3 ".ũ"#ũ#,/ 3#Ĕũ04#ũ+#ũ"(.ũ 4-.ũ"#ũ31#2ũ/4-3.2ũ +ũ _!-(!.ēũ ;%(- ũ Ĉĉ
11#23 ".ũ
(!.+ 2ũ %#ũ$4#ũ /1#ı '#-"(".ũ#-ũ ē ēũ/.1ũ 5(.+#-!( ũ".,_23(! ũ8ũ +3#1 !(¢-ũ +ũ.1"#-ũ/Ìı +(!.ēũ : ũ Ĉć