Ďć! (-!+ēŊ , 41 ĔŊ 1!'(
Äž ĹŠ } Ä?
^ ĹŠÄˆÄŒĹŠ ĹŠ ĹŠÄ‰Ä‡ÄˆÄˆ
#%1#2 ĹŠ + ĹŠ 43 ĹŠ"#ĹŠ + ĹŠ ( #13 "ĹŠ
+ĹŠ/1#2("#-3#ĹŠ $ #+ĹŠ .11# ĹŠ++#%¢Ŋ 8#1ĹŠ/ 1 ĹŠ1#(Äą - 4%41 1ĹŠ#+ĹŠ/1.8#!3.ĹŠ#-ĹŠ+ ĹŠ143 ĹŠ 11 ĹŠ +(- 2ēŊ 4 .ĹŠÄƒĹŠ#23 ĔŊ/#1.ĹŠ3 , (_-ĹŠ2423.ĔŊ!4 -".ĹŠ+ ĹŠ+.!.Äą ,.3.1 ĹŠÄ‰ÄŒÄ‡Ä‰ĹŠ#-ĹŠ+ ĹŠ04#ĹŠ5( ) ĹŠ#+ĹŠ #$#ĹŠ"#ĹŠ 23 ".ĔŊ 2#ĹŠ"#2! 11(+¢Ŋ ĹŠ+ ĹŠ +341 ĹŠ"#ĹŠ 3.!.!' ĹŠ8ĹŠ!#1! ĹŠ"#ĹŠ -3( %.ĹŠ"#+ĹŠ #8ēŊ +ĹŠ(-!("#-3#ĹŠ-.ĹŠ31 ).ĹŠ!.-2#!4#-Äą !( 2ēŊŊ : ĹŠ ÄŠ
v -ŋ (ŋ*Z-#' -ŋ )( # #)( : ŊěŊ CehWZeh[i Z[ bei XWhh_ei
Bei Jkb_fWd[i" '& Z[ CWoe" (, Z[ CWoe" 9[_Xei '" 9[_Xei (" BW H_e`W o IWkY[i" j_[d[d bWi YWbb[i [d cWb [ijWZe fheZkYje Z[b YhkZe _dl_[h# de$ ;b fheXb[cW i[ be l_[d[ WYW# hh[WdZe W‹ei Wjh|i$ Feh [ijW hWpŒd" ^WY[ Zei W‹ei i[ kd_[hed o Yed\ehcWhed kdW Yec_# i_Œd$ I[cWdWi Wjh|i bb[]Whed W bW WbYWbZ‡W o [n_]_[hed [b Whh[]be Z[ [ijWi Wl[d_ZWi$ Be gk[ f_Z[d [i gk[ i[ WZegk_d[ e i[ Yebegk[ bWijh[ oW gk[ bWi l‡Wi
ied Z[ j_[hhW be gk[ de iÂŒbe W\[YjW W bW cel_b_ZWZ Z[ bWi f[hiedWi i_ de jWcX_ƒd l[^_YkbWh" WZ[c|i i[ fhe# ZkY[d fheXb[cWi h[if_hWjeh_ei$ 7hjkhe Hei[he" Z_h[Yjeh Z[ EXhWi F‘Xb_YWi Z[b Ckd_Y_f_e Z[ JkbY|d" [nfb_YÂŒ gk[ de [ij| Z[Ă’ # d_Ze [b fh[ikfk[ije fWhW [b ( &'( " [d [b YkWb i[ Z[X[h| _d]h[iWh bei hkXhei fWhW [ijei jhWXW`ei$ 7Ă’ hcÂŒ gk[ i[h| [b 7bYWbZ[ o [b 9edY[`e gk_[d[i fh_eh_pWh|d bWi YWbb[i gk[ i[h|d h[WZ[YkWZWi$ ;%(- ĹŠ ĈÄ?
/ .),# ()ŋ . (# )ŋ*),ŋ 2.),-#š(ŋ
} ēŊ .2ĹŠ 11(.2ĹŠ"#+ĹŠ-.13#ĹŠ-.ĹŠ !4#-3 -ĹŠ ĂŒ-ĹŠ!.-ĹŠ#+ĹŠ 11#%+.ĹŠ"#ĹŠ+ 2ĹŠ ! ++#2ēŊ
ĹŠ ŊěŊ7o[h" kd [YkWjeh_Wde \k[ Z[j[d_Ze [d 9kcXWb 9ebecX_W feh [b =hkfei Z[ 7YY_ÂŒd Kd_Ă’ YWZW feh bW B_X[hjWZ F[hiedWb =7KB7 Z[ [i[ fW‡i$ ;b YecfWjh_ejW [ij| WYkiWZe feh fh[ikdjW [njehi_ÂŒd$ I[]‘d _d\ehcWY_ÂŒd Z[ kde Z[ bei W][dj[i Z[b ef[hWj_le" [b [YkWjeh_Wde ikfk[ijWc[dj[ [n# jehi_edWXW W kd Yec[hY_Wdj[ Z[ 9kcXWb" fWhW [bbe i[ ^_pe fWiWh Yece c_[cXhe Z[ bW ]k[hh_bbW$ FWhW de ^WY[hb[ ZW‹e Z[X‡W [d# jh[]Wh XejWi e ckd_Y_ed[i$
BW >ehW dWl_Z[‹W
H[YehjW [ij[ YkfÂŒd o h[YbWcW Zei fWi[i fWhW [b :_iYel[ho ;~TW XWZ M[\I \MUXWZILI MV V]M[\ZI[ WĂ… KQVI[
666Ä“+ '.1 Ä“!.,Ä“#!
Ä‚
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
g Ĺ?Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ
ĹŠ!#1! -~ ĹŠ"#ĹŠ+ ĹŠ 5(" "ĹŠ#2ĹŠ4-ĹŠ 5(2.ĹŠ/ 1 ĹŠ04#ĹŠ+ 2ĹŠ 43.1(" "#2ĹŠ /.-% -ĹŠ 3#-!(¢-ĹŠ#-ĹŠ#+ĹŠ!.-31.+ĹŠ"#ĹŠ+.2ĹŠ/1#!(.2ĹŠ"#ĹŠ/1(,#1 ēŊ .1ĹŠ'(23.1( ĔŊ ! " ĹŠ5#9ĹŠ04#ĹŠ++#% ĹŠ#23 ĹŠ3#,/.1 " ĔŊ+ 2ĹŠ!.2 2ĹŠ24 #-ĹŠ"#ĹŠ/1#!(.ēŊ ĹŠ #2ĹŠ'.1 ĹŠ04#ĹŠ+.2ĹŠ!.,#1!( -3#2ĹŠ"#)#-ĹŠ#23 ĹŠ, + ĹŠ!.234, 1#ĹŠ8ĹŠ04#ĹŠ+.2ĹŠ #-! 1% ".2ĹŠ"#ĹŠ5#+ 1ĹŠ/.1ĹŠ-4#231.2ĹŠ(-3#1#2#2ĹŠ !3ĂŒ#-ēŊ +ĹŠ!.-31.+ĹŠ2#ĹŠ"# #ĹŠ ' !#1ĹŠ3 -3.ĹŠ#-ĹŠ!#-31.2ĹŠ!.,#1!( +#2ĹŠ!.,.ĹŠ#-ĹŠ+.2ĹŠ,#1! ".2ēŊ .ĹŠ#2ĹŠ /.2( +#ĹŠ04#ĹŠ#+ĹŠ!.23.ĹŠ"#ĹŠ+.2ĹŠ/1."4!3.2ĹŠ24 -ĹŠ"#ĹŠ4-ĹŠ"~ ĹŠ/ 1 ĹŠ#+ĹŠ.31.ĔŊ!.-ĹŠ #+ĹŠ/1#3#73.ĹŠ"#ĹŠ04#ĹŠ#2ĹŠ 5(" "ēŊ 423.ĹŠ 4#-3#ĹŠ 11
ĹŠ } ĹŠ ĹŠ ĹŠ
-ĹŠ+ ĹŠ! ++#ĹŠ 4 - ĹŠ 3 +(/ ĹŠ+ ĹŠ 1#!.+#!!(¢-ĹŠ"#ĹŠ+ ĹŠ 241 ĹŠ-.ĹŠ#2ĹŠ 3 -ĹŠ#5("#-3#ĔŊ#23.2ĹŠ/#04# .2ĹŠ +4% 1#2ĹŠ/ 1 ĹŠ +, !#- 1+ ĹŠ 3#,/.1 +,#-3#ĹŠ-.ĹŠ2.-ĹŠ 24ÄƒĹŠ!(#-3#2ĹŠ8ĹŠ#23 ĹŠ3(#-#ĹŠ04#ĹŠ2#1ĹŠ /4#23 ĹŠ#-ĹŠ#+ĹŠ/(2.ĔŊŊ" -".ĹŠ, +ĹŠ 2/#!3.ĹŠ +ĹŠ+4% 1ēŊ 2ĹŠ 43.1(" "#2ĹŠ "# #1~ -ĹŠ/1#.!4/ 12#ĹŠ4-ĹŠ /.!.ĹŠ,;2ĹŠ/.1ĹŠ#23.2ĹŠ2#!3.1#2ĹŠ .+5(" ".2ēŊ .2ĹŠ#-5~ Ä–ĹŠ "4 1".ĹŠ 231#++ 5~ ĹŠ!.11#.ĹŠ#+#!31¢-(!.
ēŊ .++.2Ŋ!14".2Ŋ#-Ŋ#+Ŋ #1! ".Ŋ , 9.- 2Ŋ Ŋ"(2/.2(!(¢-Ŋ"#Ŋ+.2Ŋ!+(#-3#2
ćŊ .-5(_13#3#Ŋ#-Ŋ-4#231.Ŋ 1#/.13#1.ēŊ -5~ Ŋ342Ŋ$.3.2Ŋ ĖŊ ,! "#- Ğ+ '.1 ē!.,ē#!ēŊ
,# -Ĺ‹)* #)( -Ĺ‹* , Ĺ‹ & Ĺ‹ ( Ĺ‹( 0# ˜
.2ĹŠ/1#24/4#23.2ĹŠ/ 1 ĹŠ4- ĹŠ!#- ĹŠ$ Äą ,(+( 1ĹŠ5 1~ -ĹŠ"#/#-"(#-".ĹŠ+.2ĹŠ(-%1#Äą "(#-3#2ĹŠ8ĹŠ+ 2ĹŠ%4 1-(!(.-#2ēŊ 2ĹŠ5#-Äą Ä› ;b cel_c_[dje [d bei c[hYWZei o Yec[hY_ei Z[ bW Y_kZWZ [ij| [d Yh[Y_c_[dje feh ƒfeYW Z[ DWl_ZWZ$ BWi YecfhWi fWhW bW Y[dW dWl_Z[‹W jeZWl‡W de [djhWd [d Wfe][e$ 9WhbW Hei[he" Yec[hY_Wdj[ Z[ febbei [d [b c[hYWZe 7cW# pedWi" Wi[]khW gk[ bW WĂ“ k[dY_W Z[ Yb_[dj[i de ^W Wkc[djWZe$ ÆBW ][dj[ ik[b[d l[d_h W Yec# fhWh bei febbei \WbjWdZe kd e Zei Z‡Wi fWhW dWl_ZWZ$ ;if[# he gk[ bW fhÂŒn_cW i[cWdW i[ WY[hgk[d bei Yb_[dj[iÇ" _dZ_YÂŒ$ ;d [b 7cWpedWi de i[ [n# f[dZ[ fWlei" ‘d_YWc[dj[ fe# bbei$ ;b Wl[ [dj[hW fk[ZW YeijWh [djh[ i[_i o eY^e ZÂŒbWh[i Z[# f[dZ_[dZe Z[ ik f[ie feh b_# XhWi$ BW b_XhW Yk[ijW kd ZÂŒbWh$ :[ YWZW febbe i[ fk[Z[ iW# YWh i[_i fehY_ed[i fWhW kdW Y[dW$ Bei fWlei i[ bei [dYk[djhW ‘d_YWc[dj[ [d bei ikf[hc[h# YWZei Yece 7A?" [b lWbeh lWh‡W Z[iZ[ bei )& ^WijW ,& ZÂŒbWh[i" Z[f[dZ_[dZe bW cWhYW o [b f[ie [d a_bei Z[b Wl[$ ;b fWle c|i [YedÂŒc_Ye [i [b Z[ IWd <[hdWdZe )$.+ ZÂŒbW#
h[i [b a_be o [b c|i Yejeie Ch$ FWle *$(( [b a_be$ IWhW CehWb[i" YecfhWZehW" WĂ’ hcW gk[ jeZei bei W‹ei Yec# fhW fWle fWhW bkY_hi[ Yed ik \Wc_b_W$ 7i[]khW gk[ bei fh[# Y_ei [ij|d _]kWb [d h[bWY_ÂŒd Wb W‹e Wdj[h_eh o [d jeZW bW Y[dW _dl_[hj[ kd fhec[Z_e Z[ '+& ZÂŒbWh[i fWhW eY^e f[hiedWi$ EjhW efY_ÂŒd c|i [YedÂŒc_YW Wb fWle [i bW fWl_jW" kd fWle Z[ c[deh jWcW‹e" fWh[Y_Ze Wb fe# bbe gk[ Yk[ijW (& ZÂŒbWh[i bW kd_# ZWZ$ BW fh[fWhWY_ÂŒd Z[ [ijW Wl[ [i j[cW WfWhj[" fk[Z[ ^ehd[Wh# be [d YWiW e Z[`Wh bW fh[fWhWY_ÂŒd [d cWdei Z[ ejhW f[hiedW$ IÂŒbe ^ehd[WZe fk[Z[ YeijWh '. W (+ ZÂŒbWh[i o h[bb[de ^WijW +& ZÂŒbWh[i" jeZe Z[f[dZ[ Z[b f[ie Z[ bW kd_ZWZ o bei _d]h[# Z_[dj[i gk[ i[ kj_b_pW [d ik fh[fWhWY_ÂŒd$ Dk[lWi j[dZ[dY_Wi Yece [b Yedikce Z[ b[Y^ÂŒd [d [ijW ƒfeYW jWcX_ƒd [ij|d Z_ifed_# Xb[i fWhW bWi \Wc_b_Wi$ ;b fh[Y_e Z[ [ij[ fheZkYje eiY_bW [djh[ bei *& ZÂŒbWh[i Yed][bWZei$ Ik fh[fWhWY_ÂŒd [i c|i i[dY_bbW gk[ bW Z[ kd fWle$
&ŋ , (ŋ ŋ & ŋ # ,. ŋ 0)&0#šŋ ŋ )* , ,
g Ĺ? Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
ĂŒ2(! ĹŠ ., ĹŠ#-ĹŠ +(- 2
.1ĹŠ2#%4-" ĹŠ5#9ĹŠ#+ĹŠ$#11.! 11(+ĹŠ#-ĹŠ#+ĹŠ 31 ,.ĹŠ 11 ŊIJ +(- 2ĹŠ1# / 1#!(¢Ŋ/ 1 ĹŠ "(- ,(9 1ĹŠ#+ĹŠ341(2,.ĹŠ#-ĹŠ31#2ĹŠ! -3.-#2ēŊ ĹŠ ěŊ C[i‡Wi PWfWjW Z[ /- j‘d[b[i" fk[dj[i o [b Yb_cW Y|b_# W‹ei Z[ [ZWZ h[Yk[hZW YbWhW# Ze$ 7o[h" bW fWhhegk_W Z[ IWd# c[dj[ gk[ [b jh[d bb[]ÂŒ W IWb_dWi [b '' Z[ eYjkXh[ Z[ '/)- Wbh[Z[# jW 9WjWb_dW Z[ IWb_dWi l_l_ÂŒ kdW Zeh Z[ bWi '&0&&$ 9ec[djW gk[ Ă’[ijW Wb h[YehZWh kdei" o ejhei Wb iki ^WX_jWdj[i ieXh[l_l[d Z[ [i[ l[h feh fh_c[hW l[p Wb jh[d h[^W# c[Z_e Z[ jhWdifehj[ [d [b YkWb i[ X_b_jWZe o Z[ f_[$ D_‹ei" `ÂŒl[d[i jhWibWZWXWd Z[iZ[ IWb_dWi ^WijW o WZkbjei \ehcWhed fWhj[ Z[ bW [b YWdjÂŒd ?XWhhW fWhW ^WY[h iki Y[b[XhWY_ÂŒd" bk[]e Z[ gk[ ^WY[ YecfhWi$ 9ec[djÂŒ gk[ Wb _d_Y_e .( W‹ei bb[]Wh| [ijW c|gk_dW feh [b jh[d bb[]WXW [d h[l[hiW fh_c[hW l[p$ BW [if[# fehgk[ bW l‡W de [ijWXW hW feh c|i Z[ jh[i ^ehWi ĹŠ jejWbc[dj[ b_ijW$ xb \k[ fWhW gk[ [b fh[i_Z[dj[
ĹŠ kde Z[ bei YebWXehWZeh[i "#ĹŠ"¢+ 1#2ĹŠ2#ĹŠ HW\W[b 9ehh[W" _dWk]khWhW [d bW YedijhkYY_ÂŒd Z[ bW (-5(13(#1.-ĹŠ#-ĹŠ+ ĹŠ eĂ’Y_Wbc[dj[ [b jhWce" de 1#' (+(3 !(¢-ĹŠ"#+ĹŠ ;ijWY_ÂŒd [d IWb_dWi gk[ 31 ,.ĹŠ 11 Äą _cfehjÂŒ W bei feXbWZeh[i Wb _d_Y_e bW [Z_Ă’YWhed Yed +(- 2ĹŠ8ĹŠ+ 2ĹŠ".2ĹŠ Z[ IWb_dWi o l_i_jWdj[i$ 23 !(.-#2ēŊ f_[ZhWi [d [b f_ie o [d bWi CkY^ei Wdi_WXWd ikX_hi[ fWh[Z[i$ Wb jh[d o Z_i\hkjWh Z[b fW# ;b h[bWje be YedĂ’hcW 7b\h[Ze i[e o bW l_ijW gk[ e\h[Y[ [ij[ c[# JW_YkZ HeZh‡]k[p" Wdj_]ke [c# Z_e Z[ jhWdifehj[$ 7 bWi '-0(& Wfhen_cWZWc[dj[" fb[WZe Z[b \[hheYWhh_b gk[ j_[d[ )& W‹ei [d bW [cfh[iW$ H[bWjÂŒ [b i_d]kbWh ied_Ze Z[ bW YWcfWdW gk[ [b fWjh_ced_e ^_ijÂŒh_Ye Z[YW# Z[ bW beYecejehW (*&( WdkdY_ÂŒ [b oÂŒ feh bW \WbjW Z[ h[Ykhiei [YedÂŒ# _d_Y_e Z[b l_W`[ W XehZe Z[b jh[d$ c_Yei fWhW cWdj[d[hbe$ ;nfh[iÂŒ ;d [b Yedleo l_W`WXWd _dl_jWZei gk[ [b WjhWYj_le fh_dY_fWb Z[ bW [if[Y_Wb[i" c[Z_ei Z[ Yeckd_YW# hkjW ied bei lWbb[i" YW‹Wl[hWb[i" Y_ÂŒd" c_d_ijhei" Wkjeh_ZWZ[i o [b
Ä?
Ĺ—ĹŠ ĹŠĹŠBei ^WX_jWdj[i Z[ bW fWhhegk_W h[Y_X_[hed W bei
ēŊ Ŋļ 43 Ŋ"#Ŋ+ Ŋ ( #13 "ŊļŊ2#Ŋ"#-.,(- Ŋ +Ŋ31 ,.Ŋ04#Ŋ!.,/1#-"#Ŋ "#2"#Ŋ+ Ŋ!(4" "Ŋ"#Ŋ 11 Ŋ' 23 Ŋ#+Ŋ2#!3.1Ŋ"#Ŋ +(- 2ēŊ
4(Ŋ4-.Ŋ "#Ŋ+.2Ŋ /1(,#1.2Ŋ #-Ŋ 84" 1Ŋ Ŋ+ Ŋ !.-2314!!(¢-Ŋ"#Ŋ + Ŋ 23 !(¢-Ŋ"#Ŋ +(- 2ĔŊ+.Ŋ 1#!4#1".Ŋ!+ 1 ,#-3#Ģē } Ŋ
ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ
Fh[i_Z[dj[$ BW fh_c[hW fWhWZW \k[ [d [b i[Yjeh Z[ >e`W XbWd# YW [d [b YWdjÂŒd KhYkgk‡" ZedZ[ [b fW_iW`[ iWbjW W bW l_ijW Yed bWi Z_\[h[dj[i ^WY_[dZWi o [ifWY_ei l[hZ[i" bk[]e WjhWl_[iW [b i[Yjeh Z[ bei YW‹Wl[hWb[i o bb[]W ^WijW ?cXWoW [d 7djed_e 7dj[$ 7b Ă’dWb _d]h[iW feh bW Wl[d_ZW <hWo lWYWi =Wb_dZe ^WijW [b Y[djhe Z[ bW khX[ ?XWhh[‹W$
;d YWZW fWhWZW" bW ][dj[ [ce# Y_edWZW WfbWkZ‡W o iWbkZWXW W bei fWiW`[hei gk[ l_W`WXWd [d bWi YkWjhe c|gk_dWi Z[b \[hheYWhh_b$ KdW beYecejehW Yed Zei YeY^[i Z[ fWiW`[hei" [b Wkje\[hhe ., o bW \[hheY^_lW (, Yed YWfWY_ZWZ jejWb fWhW c|i Z[ '(& fWiW`[hei$ 7bh[# Z[Zeh Z[ bWi '/0)&" bk[]e Z[ Zei ^ehWi Z[ l_W`[" [b jh[d _d]h[iŒ W bW Y_kZWZ [d c[Z_e Z[ kdW \k[h# j[ bbkl_W o bW [ceY_Œd Z[ Y_[djei Z[ Y_kZWZWdei gk[ iWbkZWXWd [b fWie Z[ bW beYecejehW$ 9_[djei Z[ feb_Y‡Wi" c_b_jWh[i o f[hiedWb Z[ Wfeoe YkijeZ_WXWd bei Wbh[Z[Zeh[i Z[ bW b‡d[W \ƒhh[W o [b _d]h[ie W bW ;ijWY_Œd Z[ ?XWhhW fWhW iWbkZWh Wb @[\[ Z[ ;ijWZe gk[ h[Yehh_Œ [b jhWce ?XWhhW#IWb_dW W XehZe Z[b Jh[d Z[ bW B_X[hjWZ$
)(ŋ &ŋ., (ŋ, -/ #. ŋ &ŋ./,#-')ŋ (ŋ& ŋ4)(
1#-Ŋ24/#1¢Ŋ"#2! 11(+ ,(#-3. Ŋ Ŋ ĖŊ Ŋ
Ä–ĹŠ #1! ĹŠ"#ĹŠ+ 2ĹŠÄˆÄ‘Ä–ÄˆÄ‡Ä”ĹŠ#+ĹŠ31#-ĹŠ24$1(¢Ŋ4-ĹŠ/#1! -!#ĹŠ#-ĹŠ#+ĹŠ2#!3.1ĹŠ "#ĹŠ 3.!.!' ĹŠ/.1ĹŠ#+ĹŠ/4#-3#ĹŠ , 11(++.ēŊ .2ĹŠ31 ).2ĹŠ/ 1 ĹŠ#-! ,(Äą - 1ĹŠ#+ĹŠ31#-ĹŠ$4#1.-ĹŠ1;/(".2ĔŊ#+ĹŠ/1./(.ĹŠ%#1#-3#ĹŠ"#ĹŠ+ ĹŠ#,/1#2 ĹŠ"#ĹŠ #11.! 11(+#2ĹŠ"#+ĹŠ !4 ".1ĔŊ .1%#ĹŠ 11#1 ĔŊ 84"¢Ŋ ĹŠ24/#1 1ĹŠ#+ĹŠ(-!.-Äą 5#-(#-3#ĹŠ04#ĹŠ"#345.ĹŠ#+ĹŠ31 8#!3.ĹŠ/.1ĹŠÄˆÄ‡ĹŠ,(-43.2ēŊ +ĹŠ2#%4-".ĹŠ$4#ĹŠ #-ĹŠ -3( %.ĹŠ "#+ĹŠ #8ĔŊ 5~ ĹŠ 1!404~ĔŊ /.1ĹŠ ÄˆÄ‡ĹŠ ,(-43.2ĹŠ ,;2ĔŊ/#1.ĹŠ + ĹŠ (-3#15#-!(¢-ĹŠ$4#ĹŠ(-,#"( 3 ēŊ
ă
@eh][ 9Whh[hW" ][h[dj[ Z[ <[# hheYWhh_b[i Z[b ;YkWZeh" Z_`e gk[ bei )& a_bÂŒc[jhei Z[ bW hkjW ?XWhhW# IWb_dWi" j_[d[ Yece fh_dY_fWb eX`[j_le Z_dWc_pWh bWi [Yedec‡Wi beYWb[i [d bei jh[i YWdjed[i" W jhWlƒi Z[ Z_i# j_djei [cfh[dZ_c_[djei gk[ f[hc_j_h|d ][d[hWh \k[dj[i Z[ [cfb[e$ ?dZ_YÂŒ gk[ W d_l[b dW# Y_edWb bW eXhW WlWdpW [d kd +& " c_[djhWi gk[ [b )+ i[ [d# Yk[djhW [d ef[hWY_ÂŒd$ Æ;b h[ije Z[b jhWce e\h[Y_Ze i[ [djh[]Wh| ^WijW Ă’dWb[i Z[b (&'(Ç" cWd_# \[ijÂŒ$ HW‘b CWbZedWZe" fh[i_Z[dj[ Z[b =eX_[hde FWhhegk_Wb Z[ IW# b_dWi" [nfh[iÂŒ gk[ [b X[d[Ă’Y_e de iÂŒbe [i [YedÂŒc_Ye o jkh‡ij_Ye i_de gk[ [nfh[iWh| bW _Z[dj_ZWZ Z[b fk[Xbe W\he o iki WdY[ijhei$ ÆJkh_ice ^Wo fWhW jeZei" dei ^[cei kd_Ze o iecei WX_[hjei fWhW \eYWb_pWh o fh[i[djWh dk[i# jhei [cfh[dZ_c_[djei gk[ i[ \ehcWd fWhW [b jkh_iceÇ" Z_`e$
l_i_jWdj[i Wb h_jce Z[ bW 8ecXW $ ;b ]hkfe `kl[d_b Z[ IWb_dWi" fkie [b jegk[ cki_YWb o YWhWYj[h‡ij_Ye Z[ [ij[ i_j_e Y|b_Ze o WYe][Zeh gk[ i[ [dYk[djhW kX_YWZe W )& c_dkjei Z[ bW Y_kZWZ Z[ ?XWhhW$ =hkfei Z[ ZWdpW o Whj_ijWi Z[ bei Z_\[h[dj[i YWdjed[i jWcX_ƒd jkl_[hed ik [ifWY_e [d bW ;ijWY_Œd Z[ IWb_dWi" ZedZ[ \k[ [b WYje Z[ _dWk]khWY_Œd Z[b jh[d$
+ĹŠ31 "(!(.- +ĹŠ +.8ĹŠ +$ 1.
ŗŊ ŊŊC_]k[b =WhY‡W" f[hiedW`[ gk[ fhejW]ed_pW Wb ][d[hWb
;beo 7b\Whe de feZ‡W \WbjWh [d [b [l[dje$ 7b\Whe h[jecŒ bW YedijhkYY_Œd Z[b jh[d bk[]e Z[b cWdZWje Z[ =WhY‡W Ceh[de [d './+$ H[Yehh_Œ `kdje W ik [ifeiW bW 7dW FWh[Z[i 7hei[c[dW f[hie# dW`[ " [b jhWce _dWk]khWZe Z[ IWb_dWi ^WijW ?XWhhW$ BWi \eje]hW\‡Wi o [b c[diW`[ Z[ Yedi[hlWY_Œd Z[b fWjh_ced_e ^_ijŒh_Ye Z[b fW‡i de feZ‡Wd
ēŊ ĹŠ(-5#12(¢-ĹŠ"#+ĹŠ . (Äą #1-.ĹŠ ĹŠ-(5#+ĹŠ- !(.- +ĹŠ24/#1 ĹŠ+.2ĹŠÄ‰ÄŒÄŽĹŠ ,(++.-#2ĹŠ"#ĹŠ"¢+ 1#2ēŊ
+#%1~ Ŋ8Ŋ#,.!(¢-
7dW L_bbWh[Wb" ][h[dj[ Z[ bW ;cfh[iW Z[ <[hheYWhh_b[i Z[b Dehj[" cWd_\[ijÂŒ gk[ i[ _dWk]k# hÂŒ [b jhWce Yecfb[je Z[ bW ?XW# hhW #IWb_dWi gk[ Yecfh[dZ[ Zei [ijWY_ed[i o )& a_bÂŒc[jhei Z[b jhWce$ 7i[]khÂŒ gk[ [b Jh[d Z[ bW B_X[hjWZ [cf[pWh| \kdY_edWh [b '. Z[ [d[he Z[b (&'($ ?dZ_YÂŒ gk[ [d IWb_dWi i[ X[d[Ă’Y_Wh|d Zei c_b o [d ?XWhhW bW ef[hWY_ÂŒd jkh‡ij_YW i[ \ehjWb[Y[h|$
Wb jh[d h[^WX_b_jWZe o [d \kdY_edWc_[dje$ ;d YWZW fW# hWZW i[ YedY[djhWhed Y_[djei Z[ f[hiedWi gk[ iWbkZWXWd W bei YedZkYjeh[i Z[ bW beYe# cejehW o Z[ bei Wkje\[hhei gk[ fh[ijWhed [b i[hl_Y_e Zk# hWdj[ bW _dWk]khWY_ÂŒd eĂ’Y_Wb Z[ bW hkjW ?XWhhW#IWb_dWi$ BW eXhW Z[b =eX_[hde DWY_edWb \k[ WfbWkZ_ZW feh fhef_ei o [njhW‹ei$
Ĺ—ĹŠ ĹŠĹŠBW Y_kZWZWd‡W de feZ‡W eYkbjWh bW [ceY_ÂŒd Wb l[h
Ä…
g Ĺ? Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
Ĺ‹& Ĺ‹ -* , Ĺ‹ Ĺ‹ /( Ĺ‹, 0#-#š(Ĺ‹ (Ĺ‹ &Ĺ‹*, -/*/ -.)Ĺ‹ <[hd_ZWdZ BepW" Z_h[Yjeh Z[ bW Kd_ZWZ EdYebÂŒ]_YW Fhe# l_dY_Wb IebYW" i[ h[Ă’h_ÂŒ W bei ,& W‹ei Z[ jhWXW`e YedijWdj[ Z[ bW IeY_[ZWZ Z[ BkY^W 9ed# jhW [b 9|dY[h [d [b fW‡i Yed YWZW kdW Z[ iki kd_ZWZ[i fhel_dY_Wb[i$ BW kd_ZWZ fhel_dY_Wb cW# d[`W bW fWjebe]‡W edYebÂŒ]_YW Yed fWY_[dj[i Z[b dehj[ Z[b fW‡i" [b ikh Z[ 9ebecX_W o bW fWhj[ dehj[ Z[ bW h[]_ÂŒd 7cWpÂŒd_YW$ 7b i[h kdW ieY_[ZWZ i_d Ă’# d[i Z[ bkYhe" [d bW WYjkWb_ZWZ Yk[djWd Yed [b fh[ikfk[ije ejeh]WZe feh [b =eX_[hde DW# Y_edWb gk[ [i Z_ijh_Xk_Ze [d YWZW kd_ZWZ fhel_dY_Wb$ F[he [ij[ i[ cWdj_[d[ Z[iZ[ ^WY[ Zei W‹ei" i_d jecWh [d Yk[d# jW [b _dYh[c[dje Z[ fWY_[d# j[i$ BepW" [nfb_YÂŒ gk[ [ije Z_ic_dko[ [b WYY_edWh [d bW WZgk_i_Y_ÂŒd Z[ lWh_ei Z[ c[# Z_YWc[djei" f[he Yedj_dkWd Yed bW Wj[dY_ÂŒd efehjkdW$
ēŊ .-ĹŠ4-ĹŠ/1#24/4#23.ĹŠ 04#ĹŠ-.ĹŠ 23#!#ĹŠ+ 2ĹŠ-#!#2(" "#2ĔŊ .+! ĹŠ"#ĹŠ 11 ĹŠ!.-3(-ĂŒ ĹŠ!.-ĹŠ+ ĹŠ 3#-!(¢-ĹŠ(-3#%1 +ĹŠ ĹŠ+.2ĹŠ/ !(#-3#2ĹŠ .-!.+¢%(!.2Ä“
&ŋßúĿŋ Ă„(Ĺ‹ ()Ĺ‹ ( & Ĺ‹*),Ĺ‹ & ŋŋ*/ &# # Ĺ‹ 2. ,#),Ĺ‹ FWjh_Y_e EY^eW" 9ec_iW# h_e Ckd_Y_fWb" i[‹WbÂŒ gk[ [b .& Z[ bei fhef_[jWh_ei Z[ bei beYWb[i Yec[hY_Wb[i" Ykcfb_[hed Yed [b fW]e gk[ [ijWXb[Y[ bW EhZ[dWdpW gk[ H[]kbW bW ?dijWbWY_ÂŒd o 9ed# jheb Z[ bW FkXb_Y_ZWZ ;nj[h_eh [d [b YWdjÂŒd$ ;b f[hiedWb Z[b fWhgk[e jWh_\WZe" [i [b [dYWh# ]WZe Z[ [djh[]Wh bWi dej_Ă’YW# Y_ed[i [d bei beYWb[i$ EY^eW" [nfb_YÂŒ gk[ bW YWdY[bWY_ÂŒd i[ h[Wb_pW feh bei c[jhei YkWZhWZei gk[ eYkf[ bW fkXb_Y_ZWZ$ ÆI_ [b Yec[hY_Wdj[ gk_[h[ [n^_X_h ik fkXb_Y_ZWZ c|i ]hWdZ[ j[dZh| gk[ fW]Wh c|i$ :[iZ[ [b fhÂŒn_ce W‹e de Z[X[h|d WY[hWhi[ W bW Yec_iWh‡W W YWd# Y[bWh" [ije [ijWh| _dYbk_Ze [d [b YWjWijhe o [b fW]e i[h| feh l[djWd_bbWÇ" Z_`e$
- !/, (Ĺ‹/( Ĺ‹ (.# Ĺ‹ Ĺ‹ */ ,. -Ĺ‹ # ,. .-ĹŠ-4#5.2ĹŠ$4-Äą !(.- 1(.2ĹŠ#-ĹŠ#+ĹŠ ;1# ĹŠ ",(-(231 Äą 3(5 ĔŊ .41"#2ĹŠ 4Äą !'#+(ĔŊ/1#2("#-3 ĹŠ ěŊ:[iZ[ [b ' Z[ eYjkXh[" [b FWjhedWje Ckd_Y_fWb [cf[pÂŒ W cel[h iki Ă’Y^Wi fWhW h[Ykf[# hWh o \ehjWb[Y[h bei i[hl_Y_ei gk[ ][d[hWd h[djWX_b_ZWZ$ BW iWb_ZW Z[ \kdY_edWh_ei Z[b |h[W WZc_# d_ijhWj_lW \k[ [b fh_c[h fWie$ 7b_WdpWi" [ijhWj[]_Wi o Yedl[# d_ei" Wi‡ Yece bW fh_eh_pWY_ÂŒd Z[ i[hl_Y_ei fh[i[djWd kd h[ikbjW# Ze fei_j_le$ Bk[]e Z[b ^[hc[j_ice Yed bei c[Z_ei Z[ Yeckd_YWY_ÂŒd" Wo[h i[ h[Wb_pÂŒ kdW hk[ZW Z[ fh[diW [d bWi _dijWbWY_ed[i Z[b FWjhedWje$ :_[]e FheW‹e" Z_h[Yjeh <_dWd# Y_[he" cWd_\[ijÂŒ gk[ W‘d [n_ij[ kd ZÂƒĂ’Y_j Z[ Wfhen_cWZWc[dj[ )+& c_b ZÂŒbWh[i$ ;nfb_YÂŒ gk[ kdW Z[ bWi [ijhWjƒ]_YWi Z[iZ[ ik |h[W" i[ YedYh[jÂŒ Wb h[ijWXb[Y[h bWi h[# bWY_ed[i Yed bei fhel[[Zeh[i o bW h[fhe]hWcWY_ÂŒd Z[ bei fWi_lei Z[kZWi gk[ j[d‡Wd$ ;d bW WYjkWb_ZWZ [n_ij[ [b Ykcfb_c_[dje Wb '&& Z[ bW [i# jhWj[]_W" be]hWdZe kd _dYh[c[d# je [d l[djWi gk[ WbYWdpW [b ( c_b [d bei i[hl_Y_ei Z[ \WhcWY_Wi o Yec_iWh_Wjei$ Æ;ije dei ^WY[ f[diWh gk[ W c[Z_Wde fbWpe be# ]hWh[cei iebl[djWh [b ZÂƒĂ’Y_j gk[ j[d[ceiÇ" [nfh[iÂŒ FheW‹e$
4#5.2ĹŠ/1.$#2(.- +#2ĹŠ 8ĹŠ1#4 (! !(.-#2ĹŠĹŠ
HeiWh_e Jhk`_bbe" YeehZ_dWZehW Z[ bW Kd_ZWZ CƒZ_YW" i[‹WbŒ gk[
đĎćŊ
¢+ 1#2Ŋ$4#Ŋ#+Ŋ "_$(!(3Ŋ(-(!( +ē
ĊĎćŊ
¢+ 1#2Ŋ#2Ŋ#+Ŋ "_$(!(3Ŋ !34 +Ŋ!.-Ŋ + Ŋ1#/1.%1 ,Ĺ !(¢-Ŋ"#Ŋ#231 3#Ĺ %( 2Ŋ8Ŋ !4,/+(,(#-3.Ŋ#-Ŋ #+Ŋ/ %.Ŋ Ŋ/1.5Ĺ ##".1#2ēŊ
ēŊ .2Ŋ".2Ŋ!.,(2 1( 3.2Ŋ04#Ŋ2#Ŋ$.13 +#!(#1.-Ŋ,4#231 -Ŋ4- Ŋ5 1(#" "Ŋ"#Ŋ/1."4!3.2ēŊ
h[Wb_pÂŒ kd Z_W]dÂŒij_Ye i_jkWY_e# dWb o [djh[ bWi c[Z_ZWi _dc[Z_W# jWi" i[ YedjhWjÂŒ YkWjhe cƒZ_Yei h[i_Z[dj[i Yed bW Ă’dWb_ZWZ Z[ Xh_dZWh (* ^ehWi Z[ Wj[dY_ÂŒd [d [b |h[W Z[ [c[h][dY_W$ ;d bei fhÂŒn_cei Z‡Wi i[ YedjhWjWh| kd fhe\[i_edWb Z[ [d\[hc[h‡W" fWhW c[`ehWh bei i[hl_Y_ei [d [b |h[W Z[ YedikbjW [nj[hdW$ ;ZckdZe FWh[Z[i" Z_h[Yjeh 7Zc_d_ijhWj_le" _dZ_YÂŒ gk[ de [n_ij[ Z[if_Ze Z[ f[hiedWb" iebe bW h[kX_YWY_ÂŒd$ 7YjkWbc[dj[ ied '*) [cfb[WZei" -& gk[ jhWXW`Wd [d bW kd_ZWZ [ZkYWj_lW" )& [d bW kd_ZWZ cƒZ_YW o [b h[ije [djh[ [b Yec_iWh_Wje o \WhcWY_W$ EY^e
.23.2Ŋ8Ŋ2#15(!(.2Ŋ ŊŊ 2Ŋ/#1!' 2Ŋ"#Ŋ+.2Ŋ!.,(2 1( 3.2Ŋ8Ŋ$ 1, !( 2Ŋ2#Ŋ,4#231 -Ŋ!./ " 2Ŋ"#Ŋ/1.Ĺ ŗ"4!3.2ēŊ (#-31 2Ŋ04#Ŋ+ Ŋ -(" "Ŋ _"(! ĔŊ1#$.19¢Ŋ24Ŋ 3#-!(¢-Ŋ!.-Ŋ+ Ŋ!.-31 3 !(¢-Ŋ
"#ĹŠ-4#5.2ĹŠ#2/#!( +(23 2ēŊ 7(23#ĹŠ4- ĹŠ! / !(" "ĹŠ/ 1 ĹŠÄˆÄ?ĹŠ! , 2ēŊ +ĹŠ!.23.ĹŠ#-ĹŠ#+ĹŠ 2#15(!(.ĹŠ"#ĹŠ#,#1%#-!( ĹŠ#2ĹŠ"#ĹŠÄˆÄ‡ĹŠ"¢+ 1#2ĹŠ8ĹŠ.!'.ĹŠ"¢+ 1#2ĹŠ/ 1 ĹŠ!.-24+3 ĹŠ#73#1- ēŊ .2ĹŠ '.1 1(.2ĹŠ"#ĹŠ 3#-!(¢-ĹŠ2.-ĹŠ"#ŊćđĖććŊ ĹŠÄˆÄˆÄ–Ä‡Ä‡ĹŠ8ĹŠ"#ĹŠÄˆÄŒÄ–Ä‡Ä‡ĹŠ ĹŠÄˆÄ‘Ä–ÄŠÄ‡ĹŠ3.".2ĹŠ+.2ĹŠ"~ 2Ä“
f[hiedWi [ij|d hejWdZe [d bei Yec_iWh_Wjei" kdW \k[ Wi_]dWZW [d bW kd_ZWZ [ZkYWj_lW" i[_i [d [b Y[djhe _d\Wdj_b" i[_i gk[ [hWd Z[ fbWdjW \k[hed kX_YWZei [d bW Ck# d_Y_fWb_ZWZ Z[ ?XWhhW o YkWjhe [d bW ;cWfW#?" [ijei ‘bj_cei Yece fWhj[ Z[ bWi lWYWdj[i [n_ij[dj[i$ CWhj^W HkWde" eh_kdZW Z[ bW
fhel_dY_W Z[ IkYkcX‡ei" hWZ_YW [d bW Y_kZWZ Z[iZ[ Wb]kdei c[# i[i bb[]ÂŒ ^WijW [b FWjhedWje fWhW i[h Wj[dZ_ZW [d [b |h[W fh[dWjWb$ ÆL_d[ fWhW h[Wb_pWhc[ kdW [Ye# ]hW\‡W o c[ YeXhWhed '+ ZÂŒbWh[i" bei fh[Y_ei ied cÂŒZ_Yei YecfW# hWZe Yed ejhei bk]Wh[i o [n_ij[ kdW Xk[dW Wj[dY_ÂŒdÇ" Z[jWbbÂŒ$
),)Ĺ‹ &#'6.# )Ĺ‹ )(Ĺ‹ - - Ĺ‹ * ,.# #* #š(Ĺ‹ Ĺ‹ /.),# -Ĺ‹ 7o[h i[ bb[lÂŒ W YWXe [d bWi _dijW# bWY_ed[i Z[b ^ej[b 7`Wl‡" [b <ehe 9b_c|j_Ye Z[ bW H[]_ÂŒd Dehj[$ 9Whbei DWhWd`e" Z_h[Yjeh [`[Ykj_# le Z[b ?dij_jkje DWY_edWb Z[ C[# j[ehebe]‡W [ >_Zhebe]‡W ?dWc^_ " cWd_\[ijÂŒ gk[ Yed`kdjWc[dj[ Yed bW I[Yh[jWh‡W DWY_edWb Z[ =[ij_ÂŒd Z[ H_[i]ei" i[ eh]Wd_pW c[dikWbc[dj[ [ij[ j_fe Z[ \ehei [d bWi Z_\[h[dj[i fhel_dY_Wi Z[b fW‡i$ I[ [iYe]_ÂŒ W bW Y_kZWZ Yece Z[ij_de feh [b YecfehjWc_[dje _hh[]kbWh Z[ bWi YedZ_Y_ed[i c[# j[ehebÂŒ]_YWi Z[ bW fWhj[ dehj[ Z[ bW h[]_ÂŒd _dj[hWdZ_dW$ DWhWd`e" [nfb_YÂŒ gk[ Z[b Wd|# b_i_i Z_Wh_e o c[dikWb h[Wb_pWZe [d bW Y_kZWZ" i[ Z[j[hc_dW kd Yb_cW cko [if[Y_Wb" ik\h_[dZe Y_[hjWi _dĂ“k[dY_Wi Z[iZ[ bW fWhj[ dehj[ o h[]_ÂŒd 7cWpÂŒd_YW$ Feh be gk[ i[ [l_Z[dY_W bW fh[i[dY_W
Z[ Wb]kdWi bbkl_Wi gk[ de \k[hed kikWb[i [d W‹ei Wdj[h_eh[i$ ÆBW fhel_dY_W Z[ ?cXWXkhW" j_[d[ kdW Yecfei_Y_ÂŒd ][eceh\ebÂŒ]_# YW XWijWdj[ lWh_WXb[" ik[bei cko ikWl[i o YkWdZe bbk[l[ i[ fhe# ZkY[d ckY^ei Z[ib_pWc_[djeiÇ" Z_`e$ @eh][ J[h|d" Z_h[Yjeh fhel_d# Y_Wb Z[ bW I[Yh[jWh_W Z[ =[ij_ÂŒd Z[ H_[i]ei" _dZ_YÂŒ gk[ [ijWi _d_Y_Wj_# lWi XkiYWd [d\eYWh bW h[ifediW# X_b_ZWZ gk[ j_[d[d bWi Wkjeh_ZW# Z[i Z[ bW fhel_dY_W Z[ ?cXWXkhW gk[ YedĂ’hcWhed ik fh[i[dY_W [d [b \ehe" fWhW ieY_WX_b_pWh WYY_ed[i o [ijhWj[]_Wi" f[he bW cWoeh‡W de Wi_ij_ÂŒ$ Æ9ecfh[dZ[cei gk[ [b Wfkhe be j[d‡Wd \h[dj[ W bW bb[]W# ZW Z[b Fh[i_Z[dj[" gk_[d c[h[Y[ [b h[ifWbZe f[he feh be c[dei Z[X[h‡Wd ^WX[h [dl_WZe kd Z[b[# ]WZeÇ" YedYbkoÂŒ$
ēŊ 2! 2 Ŋ/ 13(!(/ !(¢-Ŋ"#Ŋ 43.1(" "#2Ŋ8Ŋ3_!-(!.2Ŋ"#Ŋ+ 2Ŋ(-23(34!(.-#2Ŋ"#Ŋ , 41 Ŋ#-Ŋ#+Ŋ$.1.Ŋ!+(,;3(!.Ŋ1#%(.- +Ŋ-.13#ē
Ĺ‹ Ĺ‹ Ĺ‹ Ä’ ēŋ Ĺ‹Ä Ä Ä„ĂşĂşĂşĹ‹ — (ĹŠ (#-ĹŠ-.ĹŠ2.-ĹŠ !.,.ĹŠ+.2ĹŠ"#ĹŠ '.1 ĔŊ3#-~ -ĹŠ 242ĹŠ/1./¢2(Äą 3.2ĹŠ"#ĹŠ!.-$.13Ä“
31.2Ŋ' ++ 9%.2Ŋ ;b fhe\[ieh MWZb[o o ik [gk_fe [dYedjhWhed [d '//. ZkhWdj[ bWi [nYWlWY_ed[i [d [b oWY_c_[dje kdW l[jW Yed Wb c[dei '+ YWfWi Z_\[h[dj[i gk[ Yedj[d‡Wd h[ijei Z[ b[Y^ei l[][jWb[i$ Bei Y_[dj‡Ò Yei YedÒ hcWhed
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? Ĺ? ÄĄ
4(#1#-ĹŠ 31 5#2 1ĹŠ -" -".ĹŠ+ ĹŠ -3;13(! :ei Wl[djkh[hei WkijhWb_Wdei XkiYWd h[Wb_pWh kdW fhe[pW _dƒZ_jW0 YWc_dWh Z[ _ZW o lk[b# jW ($(&& a_bÂŒc[jhei Z[iZ[ bW YeijW Z[ bW 7dj|hj_ZW ^WijW [b c_ice Y[djhe Z[b Febe Ikh i_d Wi_ij[dY_W" _d\ehcWhed h[Y_[d# j[c[dj[ bei c[Z_ei beYWb[i$ @Wc[i 9Wijh_ii_ed o @kij_d @ed[i Yec[dpWhed [ijW Wl[djk# hW ^WY[ *( Z‡Wi fWhW fhecel[h o h[Yeb[YjWh Z_d[he W \Wleh Z[ bW YWcfW‹W ĂˆOek YWdÉ J‘ fk[Z[i fWhW WokZWh W bei fWY_[dj[i Yed Y|dY[h [d 7kijhWb_W" i[]‘d ik fehjWb Z[ ?dj[hd[j 9Wi @ed[io0 Ăˆ9hkpWdZe [b ^_[beÉ$ Bei Wl[djkh[hei YWc_dWd Y[hYW Z[ . W / ^ehWi Z_Wh_Wi" f[h‡eZe [d [b gk[ fk[Z[d h[Ye# hh[h kdei (+ a_bÂŒc[jhei$ 7 f[iWh Z[ gk[ [i l[hWde [d bW 7dj|hj_ZW" bei Zei ^ecXh[i W\hedjWd j[cf[hWjkhWi XW`e Y[he o \k[hj[i l_[djei o W‘d i[ [dYk[djhWd W c_jWZ Z[ YWc_de Z[b Febe Ikh$ 9Wijh_ii_ed o @ed[i i[ Yed#
ei ^kcWdei fh_# c_j_lei Z[ Ik# Z|\h_YW oW [bWXe# hWXWd YebY^ed[i W XWi[ Z[ ^_[hXW o fbWdjWi c[# Z_Y_dWb[i ^WY[ --$&&& W‹ei" +&$&&& W‹ei Wdj[i Z[ be gk[ i[ Yh[‡W" i[]‘d kd [ijk# Z_e h[Wb_pWZe feh kd [gk_fe _dj[h# dWY_edWb Z[ Y_[dj‡Ò Yei Z_\kdZ_Ze h[Y_[dj[c[dj[$
Bei h[ijei Z[ b[Y^e l[][jWb \k[hed Z[iYkX_[hjei [d bWi [n# YWlWY_ed[i Z[b h[\k]_e Z[ f_[# ZhW Z[ I_XkZk" [d bW fhel_dY_W Z[ AmWPkbk#DWjWb" feh [b [gk_# fe gk[ Z_h_][ [b fhe\[ieh Bod MWZb[o" Z[ bW Kd_l[hi_ZWZ Z[ M_jmWj[hihWdZ @e^Wdd[iXkh# ]e $ I[]‘d bei _dl[ij_]WZeh[i" ied Wfhen_cWZWc[dj[ +&$&&& W‹ei c|i Wdj_]kei gk[ ejhei [`[cfbei YedeY_Zei" feh be gk[ Ye_dY_Z[d Yed ejhei YecfehjWc_[djei gk[ _djheZk`e [b ^ecXh[ ceZ[hde [d ik l_ZW Yej_Z_WdW" Yece [b kie Z[ Yk[djWi Z[ YedY^W o j[Ydebe]‡W Z[ f_[ZhW$ Bei [if[Y_Wb_ijWi Z[ijWYWd gk[ ceZ_Ă’ YWh [b [ifWY_e l_jWb Z[b ^|X_jWj" _dYbko[dZe [b [djeh# de Z[b Zehc_jeh_e" [i kd Wif[Yje _cfehjWdj[ Z[b YecfehjWc_[dje o bW YkbjkhW ^kcWdW" feh be gk[ [ijei ^WbbWp]ei WfehjWd _d\eh# cWY_ÂŒd Æ\WiY_dWdj[Ç ieXh[ bei fh_c[hei ^ecXh[i ceZ[hdei [d [b ikh Z[ Ă›\h_YW$
Ć
ĹŠĹŠ -;+(2(2ĹŠ!.-ĹŠ#+ĹŠ ,(!1.2!./(.ĹŠ 1#5#+ 1.-ĔŊ "#,;2ĔŊ04#ĹŠ#-ĹŠ 3.1-.ĹŠ ĹŠÄ?ĊēćććŊ  .2ĹŠ 31;2ĹŠ !.,#-9 1.-ĹŠ ĹŠ 04#, 1ĹŠ+ 2ĹŠ ! , 2ĹŠ/#1(¢"(Äą ! ,#-3#ĔŊĥ/1. Äą +#,#-3#ĹŠ!.,.ĹŠ 4- ĹŠ$.1, ĹŠ"#ĹŠ "#2' !#12#ĹŠ"#ĹŠ /+ % 2Ģē
ÂĄ ēŊ ĹŠ/#2 1ĹŠ"#ĹŠ+ ĹŠ ) ĹŠ 3#,/#1 341 ĔŊ".2ĹŠ'., 1#2ĹŠ04(#1#-ĹŠ !149 1ĹŠ#23#ĹŠ+4% 1ĹŠ/.1ĹŠ4- ĹŠ. 1 ĹŠ #-_ÄƒĹŠ! ēŊ
l_hj_[hed [djh[ (&&- o (&&. [d bei fh_c[hei [d l_W`Wh [d aWoWa [b cWh gk[ i[fWhW W 7kijhWb_W o Dk[lW P[bWdZW" jhWi h[Yehh[h )$)'. a_bŒc[jhei [d ,( Z‡Wi" o [djh[ (&&' o (&&( \ehcWhed fWhj[ Z[ bW fh_c[hW [nf[Z_Y_Œd gk[ h[cŒ ZkhWdj[ */ Z‡Wi [ ^_Y_[hed ($+,& a_bŒ# c[jhei [d [b h‡e c|i bWh]e Z[ 7kijhWb_W$
ēŊ (3(.Ŋ"#Ŋ#7! 5 !(.-#2Ŋ"#+Ŋ1#$4%(.Ŋ"#Ŋ/(#"1 Ŋ"#Ŋ ( 4"4ĔŊ#-Ŋ+ Ŋ /1.5(-!( Ŋ"#Ŋ 6 4+4Ĺ 3 +ĔŊ".-"#Ŋ2#Ŋ' ++ 1.-Ŋ+.2Ŋ1#23.2Ŋ"#+Ŋ'#!'.ē
gk[ i[ jhWjWXW Z[ XWdZWi Yec# fWYjWZWi Z[ ^_[hXW o ejhe j_fe Z[ fbWdjWi gk[ feZh‡Wd ^WX[h kj_# b_pWZe bei feXbWZeh[i fWhW fhe# j[][hi[ Z[ bei ceigk_jei o ejhei _di[Yjei$ LWh_ei Z[ bei h[ijei Z[ fbWdjWi \ei_b_pWZei gk[ [dYedjhWhed \k[# hed _Z[dj_Ă’ YWZei Yece f[hj[d[# Y_[dj[i W bW Ăˆ9hofjeYWhoWÉ" Z[ bW \Wc_b_W Z[ bei bWkh[b[i" gk[ ik[# b[d i[h kj_b_pWZWi [d bW c[Z_Y_dW jhWZ_Y_edWb$
;d YedYh[je" bW Xej|d_YW CW# h_ed 8Wc\ehZ" Z[ bW Kd_l[hi_ZWZ Z[ M_jmWj[hihWdZ o c_[cXhe Z[b [gk_fe" _Z[dj_Ă’ YÂŒ h[ijei Z[ bW Ăˆ9hofjeYWhoW meeZ__É" YkoWi ^e`Wi jh_jkhWZWi [c_j[d hWijhei Z[ gk‡c_Yei gk[ j_[d[d fhef_[# ZWZ[i h[f[b[dj[i W bei _di[Yjei$ ĹŠ ĹŠ 1 ĹŠ+ ĹŠ2#!!(¢!41(.2.Äž+ '.1 Ä“!.,Ä“#!
- ĹŠ %+#2( ĹŠ#-5~ ĹŠ/.1ĹŠ#11.1ĹŠ ĹŠ6# ĹŠ/.1-.%1;ÄƒĹŠ! ĹŠ ".ĹŠ Ĺ—ĹŠ ĹŠ(%+#2( ĹŠ! 3¢+(! ĹŠ"#ĹŠ (+(/(- 2ĹŠ1#,(3(¢Ŋ 8#1ĹŠ ĹŠ242ĹŠÄƒĹŠ#Äą + ĹŠ(, %#-ĹŠ"#ĹŠ4-ĹŠ31 5#23(".ĹŠ#-ĹŠ+#-!#1~ ĹŠ8ĹŠ34, #-ĹŠ4-ĹŠ2.$;ēŊŊ ĹŠĹŠĹŠ +#2ĹŠ ĹŠ4- ĹŠ/;%(- ĹŠ # ĹŠ/.1-.%1;ÄƒĹŠ! ĹŠ +ĹŠ#04(5.! 12#ĹŠ +ĹŠ " 1ĹŠ+ ĹŠ"(1#!!(¢-ĹŠ"#ĹŠ -3#1-#3ĹŠ#-ĹŠ+ ĹŠ04#ĹŠ2#ĹŠ/."~ ĹŠ2#%4(1ĹŠ#-ĹŠ "(1#!3.ĹŠ+ ĹŠ!#1#,.-( ĹŠ"#ĹŠ3., ĹŠ"#ĹŠ/.2#2(¢-ĹŠ"#+ĹŠ-4#5.ĹŠ 19. (2/.ĹŠ"#ĹŠ -(+ ēŊŊ ĹŠĹŠĹŠ
Ŋ 1!'("(¢!#2(2Ŋ -4-!(¢Ŋ/.1Ŋ+ Ŋ,  - Ŋ#-Ŋ24Ŋ/.13 +Ŋ 04#Ŋ#+Ŋ-., 1 ,(#-3.Ŋ"#+Ŋ 19. (2/.Ŋ 4(2Ŋ -3.-(.Ŋ %+#Ŋ /."1~ Ŋ5#12#Ŋ#-Ŋ35, 1( ē!.,ēŊŊ ŊŊŊ
.2ĹŠÄƒĹŠ#+#2ĹŠ04#ĹŠ 1(#1.-ĹŠ#2 ĹŠ/;%(- ĹŠ2#ĹŠ#-!.-31 1.-ĹŠ!.-ĹŠ
ĹŠ %+_2( ĔŊ04#ĹŠ(-(!( +,#-3#ĹŠ!1#8¢Ŋ04#ĹŠ2#ĹŠ31 3 ĹŠ "#ĹŠ4-ĹŠ 3 04#ĹŠ"#ĹŠ4-ĹŠ/(1 3 ĹŠ(-$.1,;3(!.ĔŊ1##-5(¢Ŋ #+ĹŠ -4-!(.ĹŠ!.-ĹŠ+ ĹŠ"(1#!!(¢-ĹŠ"#ĹŠ -3#1-#3ĹŠ!.11#!3 ĔŊ 35, 1( Ä“-#3Ä“ ;2ĹŠ"#+ŊđćŊ/.1ĹŠ!(#-3.ĹŠ"#ĹŠ+.2ĹŠÄ’ÄŒĹŠ,(++.-#2ĹŠ"#ĹŠ' (Äą 3 -3#2ĹŠ"#ĹŠ (+(/(- 2ĹŠ2#ĹŠ"#!+ 1 -ĹŠ! 3¢+(!.2Ä“
ēŊ 2Ŋ4-Ŋ% 3.Ŋ! ++#)#1.Ŋ"#Ŋ ., Ŋ04#Ŋ#-!.-31¢Ŋ4- Ŋ! 2 Ŋ!.-Ŋ4- Ŋ '#1#"#1 ē
3.ĹŠ! ++#)#1.ĹŠ'#1#" ĹŠ ÄˆÄŠĹŠ,(++.-#2ĹŠ"#ĹŠ"¢+ 1#2 ;b \[b_de _jWb_Wde h[Y_X_h| bW dWZW Z[ifh[Y_WXb[ ikcW Z[ YWi_ ') c_bbed[i Z[ ZÂŒbWh[i" Z[ifkƒi Z[ gk[ ik h_YW fhef_[# jWh_W \Wbb[Y_ÂŒ [b c[i fWiWZe$ J^[ =kWhZ_Wd _d\ehcW gk[ ik Zk[‹W" kdW ck`[h Z[ /* W‹ei Z[ [ZWZ" _Z[dj_Ă’ YWZW Yece CWh_W 7iikdjW" Z[`ÂŒ ik \ehjkdW o fhef_[ZWZ[i feh kd lWbeh Z[ c|i Z[ ') c_bbed[i Z[ ZÂŒbWh[i W JeccWie [b ]Wje$ I[]‘d J^[ J[b[]hWf^" 7i#
ikdjW Z_e jeZW ik \ehjkdW Wb ]Wje XW`e [b Yk_ZWZe Z[ kdW [d\[hc[hW Z[ YedĂ’ WdpW bW b[o _jWb_WdW" jWb l[p Yece [hW Z[ [i# f[hWh" de f[hc_j[ gk[ bei Wd_# cWb[i ^[h[Z[d Z_h[YjWc[dj[ $ 7 f[iWh Z[ bW \ehjkdW Z[ JeccWie" [b 789 D[mi i[‹W# bW gk[ ik h_gk[pW [i bW d‘c[# he ) [d bW b_ijW Z[ bei Wd_cW# b[i Zecƒij_Yei c|i h_Yei Z[b ckdZe$ Ä“
§ ć 0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
g Ĺ?Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
+ĹŠ5#9ĹŠ-.ĹŠ2#Äą / -ĹŠ04#ĹŠ#7(2Äą 3#-ĹŠÄ‰ÄŒĹŠ-4#5 2ĹŠ , 04(- 1( 2ĹŠ8ĹŠ04#ĹŠ -.ĹŠ2#ĹŠ, -#) -ĹŠ2.Äą + 2ĔŊ-#!#2(3 -ĹŠ"#ĹŠ /#12.- +Ģ
ĹŠ } ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ
(ĹŠ04(#1#2ĹŠ !.,/1#-"#1ĹŠ + ĹŠ/ + 1 ĹŠ $#+(!(" "ĔŊ3(#-#2ĹŠ 04#ĹŠ#-3#-"#1+ ĹŠ !.,.ĹŠ1#!.,/#-2 ĹŠ 8ĹŠ-.ĹŠ!.,.ĹŠÄƒĹŠ-ĢēŊ
ĹŠ ĹŠ Äą ^
11(+#2ĹŠ"#ĹŠ.1.
Kd Z_YjWZeh o ][d[hWb" gk[ bW iWX_Zkh‡W fefkbWh be bbWcÂŒ Ăˆ;b ;cf[hWZeh Z[ J_]kWÉ decXh[ Z[ bW ^WY_[dZW gk[ WZgk_h_ÂŒ o ZedZ[ i[ [iYedZ_ÂŒ" \k[ gk_[d fWi[ÂŒ feh bWi YWbb[i o fbWpWi Z[ jeZe [b fW‡i [n^_X_[dZe [b fh_c[h XWhh_b Z[ f[jhÂŒb[e o Yed ]kWhZ_Wi Z[ ^edeh be YebeYÂŒ [d [b iW]hWZe j[cfbe Z[ bei ^ƒhe[i dWY_edW# b[i$ :[YbWhÂŒ _d_Y_WZW bW ƒfeYW f[jheb[hW o [b Ă’ d Z[ jeZei bei cWb[i o Z[ bW feXh[pW$ 9ed i_# c_bWh Z_iYkhie" jhWdi\ehcWZe Z[ efei_jeh WYƒhh_ce Z[ bW c_d[h‡W W ik cWoeh Z[\[dieh" i_c_b_jk# Z[i o jhWdi\ehcWY_ed[i Z_]dWi Z[ [ijkZ_e fWhW WYWZƒc_Yei" Y_[dj_ijWi o fWd[]‡h_Yei" dk[ijhe WYjkWb ;cf[hWZeh [d ik YWZ[dW iWXWj_dW dWY_edWb WdkdY_ÂŒ [b _d_# Y_e Z[ bW ƒfeYW c_d[hW o [b Ă’ d Z[ jeZWi bWi Wd]kij_Wi dWY_edWb[i$ 7b _]kWb gk[ bei Yedgk_ijWZeh[i Yed bei [if[`_jei" [n^_X_ÂŒ Wdj[ kd fk[Xbe [cfeXh[Y_Ze f[fWi Z[ ehe o [b fh_c[h b_d]ej[ gk[ jWcX_ƒd i[h| YebeYWZe [d 9W# hedZ[b[j$ ÂśGkƒ fWh[Y_Zei ied bei j_hWdei 9ece Z_Y[ [b ikieZ_Y^e0 Æ I‡ e de" [ijWcei YbWhei" Âľi‡ c[ [nfb_Ye5 Fhe^_X_Ze ebl_ZWhÇ$ -.+.ĹŠ .9.ĹŠ Ä“ 4(3.
4+341 ĹŠ5#-% 3(5 ĹŠ
;b eZ_e o bW l[d]WdpW dWZW h[ik[bl[d [d kd ckdZe Z[ l_lei$ ;i iWbkZWXb[ fWhW j[d[h c[ceh_W Z[ be ikY[Z_Ze" f[he `kdje W [iW [leYWY_ÂŒd j_[d[ gk[ ][hc_dWh bW h[YedY_b_WY_ÂŒd$ CkY^e i[ ^WXbW Z[ YkbjkhW Z[ fWp" f[he jWcX_ƒd j[d[cei gk[ ^WXbWh Z[ bW YkbjkhW Z[b f[hZÂŒd o fed[hbW [d fh|Yj_YW$ :[j[ije" feh [dZ[" [iW YkbjkhW l[d]Wj_lW gk[ jWcfeYe i_hl[ fWhW Whh[]bWh dWZW$ BW Yedl_l[dY_W i_[cfh[ [n_][ ckY^ei f[hZed[i cWb gk[ dei f[i[$ ;b i[dY_bbe Whj[ Z[ l_l_h Yece ^[hcWdei [d ;kiaWZ_" e [d jWdjei bk]Wh[i Z[b ckdZe [d YedĂ“ _Yje" fWiW feh Wfh[dZ[h W Yedl_l_h h[if[jWdZe o f[hZedWdZe$ 8ehhÂŒd o YWc_de dk[le gk[ i[ Z_Y[" i_d eXl_Wh" feh ikfk[ije" [b ikfb_Y_e Z[ bWi l‡Yj_cWi$ DkdYW `Wc|i" f[he i_d h[lWdY^W$ ~!3.1ĹŠ .1!. ĹŠ #11#1. !.1!. Äž3#+#$.-(! Ä“-#3 ĹŠ ĹŠ ĹŠ Ä– ! 13 2 +"(1#!3.1Äž+ '.1 Ä“!.,Ä“#! 2(++ ĹŠÄˆÄ?ĈÄ?Ä‰ÄŒÄŠĹŠ ĹŠ.ĹŠ!4 +04(#1 ĹŠ "#ĹŠ-4#231 2ĹŠ %#-!( 2Ä“ #04(2(3.2Ä–ĹŠ ., 1#2ĹŠ8ĹŠ /#++(".2ĹŠ!.,/+#3.2Ä—ĹŠ-ĂŒ,#Äą 1.ĹŠ"#ĹŠ _"4+ Ä—ĹŠ3#+_$.-.ĹŠÄ¸ÄƒĹŠ).ĚėŊ"(1#!!(¢-ĹŠ".,(!(+( 1( ĹŠ .ĹŠ"#ĹŠ31 ).ĹŠ8ĹŠ!.11#.ĹŠ#+#!31¢-(!.Ä“
Ĺ‹ Ĺ‹ Y
7b_WdpW F7?I [if[hW j[d[h W \_d[i Z[ Z_Y_[cXh[ *$&&& Ăˆ9ec_jƒi Z[ bW H[lebkY_ÂŒd 9_kZWZWdWÉ [d jeZe [b fW‡i$ Iki f[hied[hei Z[YbWhWhed h[Y_[d# j[c[dj[ gk[ j_[d[d [b eX`[j_le Z[ gk[" Yed [ijWi \ehcWi Z[ eh]Wd_pWY_ÂŒd Z[ XWi[" i[ be]h[ \eh# jWb[Y[h Wb =eX_[hde o W ik W]hkfWY_ÂŒd feb‡j_YW$ ;i Z[Y_h" [b e\_Y_Wb_ice i[ fh[fWhW o YWb_[djW bei cejeh[i Wb _d_Y_Whi[ [b W‹e fh[[b[YjehWb" WZ[c|i Z[ bW fheceY_ÂŒd gk[ oW ^WY[ W bW \_]khW Z[b fh[# i_Z[dj[ 9ehh[W$ >WijW W^ehW F7?I de ^W _d\ehcWZe Yk|djei Z[ [ijei Yec_jƒi j_[d[d eh]Wd_pWZei$ CkY^ei bei l[d Yece kdW ik[hj[ Z[ Ăˆ9WXWbbe Z[ JheoWÉ Z[ij_dWZei W c_dWh" [djh[ ejhWi jWh[Wi" bei fei_# Xb[i XWij_ed[i Z[ bW efei_Y_ÂŒd$ Ejhei f_[diWd [d bei \Wceiei Yec_jƒi Z[ l_]_bWdY_W _dijWkhWZei ^WY[ c[Z_e i_]be [d 9kXW" YkoW \kdY_ÂŒd [i bW Z[ l_]_bWh" Z[dkdY_Wh o f[hi[]k_h W bei efei_jeh[i
ĹŠ ĹŠ Ä“
&Ĺ‹* v-Ĺ‹ &Ĺ‹ ,# v /&) Âľ9ece fk[Z[ kd ;ijWZe eXijhk_h [b Z[i[cf[‹e dehcWb Z[ bW `kij_Y_W5 De iÂŒbe [i WXikhZe" [i _dYh[‡Xb[ [d [ijW ƒfeYW Z[ bW ^_ijeh_W Z[ bW ^kcWd_ZWZ$ Âľ9ÂŒce fk[Z[ i[h gk[ kdW ieY_[ZWZ [ijƒ Z[ifhej[]_ZW Z[ bW `kij_Y_W5 Bei [ijWZei Z[b ckdZe ^Wd bk# Y^WZe Z[iZ[ ^WY[ ckY^ei i_]bei fWhW gk[ bW l_ZW Z[b ^kc_bZ[ o bW Z[b fej[djWZe" i[W Z[ h[if[je$ BW `kij_# Y_W [i fWhj[ Z[ bW l_ZW Yec‘d Z[ kdW ieY_[ZWZ$ F[he [d ;YkWZeh Wb]kdei ]eX_[hdei ^Wd _dl[djWZe ckY^Wi jhWcfWi" Z[ cWd[hW gk[ bei `k[Y[i jhWXW`[d [d X[d[Ă’ Y_e Z[b feZ[h$ ;b Yedjheb Z[ bW `kij_Y_W [i kdW YWhjW
Wb hƒ]_c[d$ ÆBei Yec_jƒi de ied h[fh[i_lei" de ied f[igk_# iWi W bei Y_kZWZWdei" Wb YedjhWh_e" ied jhWdifW# h[dj[i" fWhj_Y_fWj_lei" ZedZ[ YWZW XWhh_e feZh| [nfh[iWhi[ b_Xh[c[dj[ ieXh[ bei j[cWi gk[ b[i fh[eYkfWd" bW _di[]kh_ZWZ" feh [`[cfbeÇ" WYbWhÂŒ [b I[Yh[jWh_e Z[ bW 7b_WdpW$ F[he [b [igk[cW XWhh_Wb o bW c[dY_ÂŒd W bW _di[]kh_ZWZ gk[ ^WY[ [b \kdY_e# dWh_e ck[l[d W ikif_YWY_Wi$ Âľ?dYbko[d Z[djhe Z[ [i[ hkXhe bWi WYjkWY_e# d[i Z[ bW efei_Y_ÂŒd5 ÆBei YedjhWh_ei Wb Hƒ]_c[d i_[cfh[ Yk[ij_edWd bei YWcX_ei" bei Yec_jƒi j_[# d[d bW jWh[W Z[ ][d[hWh c[iWi Z[ Z_|be]e ieXh[ jWh[Wi f[dZ_[dj[iÇ" Z_`e kdW leY[hW Wb_WdY_i# jW$ I_d [cXWh]e" bWi ZkZWi f[hi_ij[d" fehgk[" YWikWbc[dj[" [iei \k[hed bei Wh]kc[djei Yed bei gk[ [d 9kXW o [d L[d[pk[bW i[ Yh[ÂŒ kdW eh]Wd_pWY_ÂŒd i_c_bWh$
c|i Z[b WjWZe gk[ ^W i[hl_ZW fWhW iec[j[h bW b_X[hjWZ$ BW b_cf_[pW Z[ `k[Y[i Yehhkf# jei fWh[Y[ iÂŒbe kd ][ije$ ;ijW YbWi[ Z[ `k[Y[i WXh_[hed bWi fk[hjWi W bW _d`kij_Y_W$ Ckbj_fb_YWhed [b Z[i# WcfWhe" Z[i^edhWhed kd Z[h[Y^e \kdZWc[djWb Z[ bei Y_kZWZWdei o ^Wd ^[Y^e Z[b fW‡i kde Z[ bei c|i Yehhkfjei Z[b ckdZe$ BW Z[f[dZ[dY_W Z[ kdW ieY_[ZWZ W bei feZ[h[i Z[b ;ijWZe [i Wiec# XheiW$ ;b ;ijWZe [i i_dÂŒd_ce Z[ kd [gk_fe Z[ ]eX_[hde$ ;bbei _dl[d# jWhed [b Yedjheb jeZei bei feZ[h[i$ 9edi_]k_[hed Z[ijhk_h bW Z[ce# YhWY_W [Y^WdZe WXW`e bWi b_X[hjWZ[i Yedgk_ijWZWi W iWd]h[ o \k[]e" Yed Zebeh o b|]h_cWi W be bWh]e Z[ ck# Y^ei i_]bei$ De [i WY[fjWXb[ [ijW h[Wb_ZWZ$ 9ed _cW]_dWY_ÂŒd Z[i# bkcXhWdj[ ^Wd Yh[WZe kd fW‡i Z[b h_Z‡Ykbe$ ;b Z[b_h_e Z[b ibe]Wd bW Æh[# lebkY_ÂŒd Y_kZWZWdWÇ j_[d[ i[]k_Ze# h[i o \Wd|j_Yei _dieif[Y^WZei gk[ i[ _Z[dj_Ă’ YWd Z[iZ[ fhe\[i_edWb[i" YWj[Zh|j_Yei" f[h_eZ_ijWi gk[ b[i [d#
YWdjW h[Y_X_h ik[bZei ZehWZei" ^WijW feXh[i Wkjƒdj_Yei o jWcX_ƒd l_lW# hWY^ei gk[ ^WY[d YebW [d bei XWdYei [if[hWdZe [b Xede Z[ bW feXh[pW o bW eY_ei_ZWZ$ >WijW [b cec[dje i[ ^Wd Z[i# j_jk_Ze `k[Y[i ^ed[ijei" o bei ejhei i[ cWdj_[d[d Yecfhec[j_Zei [d cWdj[d[h W kdW ieY_[ZWZ iec[j_ZW$ Bei ]eX[hdWdj[i ^Wd ebl_ZWZe e de ^Wd [ijWZe Wb jWdje Z[b ]kije Z[ bW Yedl_l[dY_W fWY‡Ò YW o bW \[b_Y_ZWZ Z[ bW b_X[hjWZ$ Kd fW‡i b_Xh[ [i ^e]Wh Z[ f[hiedWi b_Xh[i$ BW b_X[hjWZ i[ Ye# d[YjW Yed [b f[diWc_[dje o Z[iWhhe# bbe Z[ kd fW‡i Z_]de Z[ ][d[hWY_ed[i h_YWi [d YedeY_c_[dje" h[if[je o ie# b_ZWh_ZWZ$ I_d [cXWh]e" bW ejhW fWhj[ Z[ bW feXbWY_ÂŒd" eXi[hlW fWY_[dj[ [ij[ fW‡i Z[ be ]hej[iYe" i[ _d\ehcW" f_[diW" YecfWhW" Z[iYkXh[ bWi Wh# ]kY_Wi Z[ bei ]eX[hdWdj[i fWhW h[Y_# X_h bWi iWj_i\WYY_ed[i [\‡c[hWi$ Bei ]eX[hdWdj[i Z[X[d j[d[h fh[i[dj[ gk[ dWZW [i [j[hde [d [ij[ ckdZe Z[ cehjWb[i" d_ i_gk_[hW be h_Z‡Ykbe$
^ } ĹŠ
^ĹŠ ÄŠĹŠ ĹŠ ÂĄ
Ä? ),Ĺ‹+/ZĹ‹.# ( Ĺ‹ . (.)Ĺ‹ )Ĺ‹/( Ĺ‹ -)& Ĺ‹0)4ÄŽ BW ?]b[i_W o bWi \Wc_b_Wi Z[ ;YkWZeh \k[hed \[b_Y_jWZWi feh [b FWfW ^WY[ Wfhen_cWZWc[dj[ kd c[i" ÂśYk|djW [ceY_ÂŒd ^[cei i[dj_Ze Wb l[h ik \_hcW [d [b ZeYk# c[dje Z_h_]_Ze W bei Wi_ij[dj[i Wb ?? 9ed]h[ie Z[ bW <Wc_b_W [d ;YkWZeh" bei YkWb[i jkl_cei bW ik[hj[ Z[ l[h o [iYkY^Wh W Ik IWdj_ZWZ 8[d[Z_Yje NL? ;\[Yj_lWc[dj[ [iYkY^Wcei jWc# X_ƒd ik lep Z_h_]_ZW W bei Wi_ij[d# j[i Âľ7b]kdei i[ fh[]kdjWh|d feh gkƒ j_[d[ jWdje [Ye bW lep Z[ kd ^ecXh[ WfWh[dj[c[dj[ Yed jWd feYWi \k[hpWi5 Gk[ [hheh c|i ]hWdZ[ Z[Y_h feYWi \k[hpWi" ik \_]khW Yed]h[]W W cWi Z[ Zei c_bbed[i Z[ `ÂŒl[d[i l_]eheiei [d CWZh_Z" h[fb[jei Z[ l_ZW o [ceY_ed[i" gk[ W]kWdjWd bW bbkl_W o bei jhk[dei [d i_b[d# Y_e Yece i_ dWZ_[ i[ Wjh[l_[hW W ^WXbWh Wdj[ [b ]hWd _d\bk`e Z[ bW dWjkhWb[pW1 f[he [hW ckY^e c|i gk[ [ije" 9h_ije [d bW ;kYWh_ij‡W Wi_ij‡W W bW Y_jW Z[ c_bbed[i Z[ `ÂŒl[d[i YedleYWZei feh ik iWd# j_ZWZ 8[d[Z_Yje NL?$ Ik i[Yh[je [i [ij[" iWX[ o fk[Z[ Yed]h[]Wh W `ÂŒl[d[i Z[ jeZe [b ckdZe feh bW f[hiedW W gk_[d h[fh[i[djW1 b[i [n^ehjW" b[i Wd_cW" b[i bb[dW Z[ Wb[]h‡W o b[i Z[`W ]hWdZ[i h[jei$ H[Ykf[hWh bei h[jei o Z[iW\‡ei ied b[YY_ed[i gk[ Z[X[cei Wfh[dZ[h Z[ [ij[ ^ecXh[ gk[ ^W fWiWZe bW l_ZW" [iYh_X_[dZe ieXh[ bei ]hWdZ[i c_ij[h_ei Z[ :_ei o ik Yh_WjkhW" [b i[h ^kcWde$ 9kWdjW Z_Y^W" ^Wd h[iWbjWZe bei [ijkZ_Wdj[i Z[ bW Fedj_\_Y_W Kd_l[hi_ZWZ 9WjÂŒb_YW Z[b ;YkWZeh I[Z[ ?XWhhW FK9;I? " i[ l_l_ÂŒ [d bW @C@ @ehdWZW CkdZ_Wb Z[ bW @kl[djkZ gk[ jhWiY_[dZ[ ^WijW bWi WkbWi kd_l[hi_jWh_Wi W c_b[i Z[ a_bÂŒc[jhei" o W bWi WYj_l_ZWZ[i Z[ l_dYkbWY_ÂŒd Yed bW ieY_[ZWZ" [if[Y_Wbc[dj[ [d bW DWl_ZWZ" bei `ÂŒl[d[i fWhj_Y_fWdj[i YecfWhj[d Z[ \ehcW [if[Y_Wb [ij[ WYedj[Y_# c_[dje gk[ cWhYÂŒ ik l_ZW o [b Yecfhec_ie Z[ ik `kl[djkZ$
1#2("#-3#ĹŠ !(.- + ĹŠ ĹŠ } (1#!3.1 ĹŠ ")4-3
ĹŠ ÂĄ ĹŠ (1#!3.1
ĹŠ ĹŠ "(3.1ĹŠ #%(.- + ĹŠ "(3.1( +ĹŠ (-.3 41.ĹŠ Ä“ Ä“ 11 Ä–ĹŠ #)~ ŊĊĎćŊ#-31#ĹŠ 4!1#ĹŠ8ĹŠ .! $4#13#Ä“ #+_$.-.ĖŊĉĒĎĹÄ?ĎćĉŊ , (+Ä–ĹŠ( 11 Äž+ '.1 Ä“!.,Ä“#! 3 5 +.Ä–ĹŠ 4!1#ĹŠ#-31#ĹŠ +(- 2ĹŠ8ĹŠ .1 +#2Ä“ ĹŠ #+_$.-.Ä–ĹŠÄ‰Ä’Ä‰ÄąÄŽÄŒÄ?Ä?ĹŠ , (+Ä–ĹŠ.3 5 +.Äž+ '.1 Ä“!.,Ä“#! 4+!;-Ä–ĹŠ 4!1#ĹŠÄ?ĉĉŊ#-31#ĹŠ 8 !4!'.ĹŠ8ĹŠ 4-~-ĔŊĉ".ĹŠ/(2. #+_$.-.Ä–ĹŠÄ‰Ä’Ä‘ÄąÄŒÄ?ÄŒÄ?ĹŠ , (+Ä–ĹŠ34+! -Äž+ '.1 Ä“!.,Ä“#!  .Ä–ĹŠ ĹŠ .ēŊĎĒÄ?Ĉ
666ē+ '.1 ē!.,ē#! 23 Ŋ2#!!(¢-Ŋ1#/1#2#-3 Ŋ+ Ŋ./(-(¢-Ŋ"#Ŋ+.2Ŋ#"(3.1#2ēŊ .2Ŋ#2!1(3.2Ŋ"#Ŋ+.2Ŋ !.+ .1 ".1#2Ŋ2¢+.Ŋ!.,/1.,#3#-Ŋ Ŋ242Ŋ 43.1#2Ŋ8Ŋ-.Ŋ1#ĄŊ#) -Ŋ-#!#2 1( Ĺ ,#-3#Ŋ#+Ŋ/#-2 ,(#-3.Ŋ"#+Ŋ/#1(¢"(!.ē
!1.ĹŠ/+ -ĹŠ !' 8ĹŠ 31.2ĹŠ" 3.2ĹŠ
g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
7(23#-ĹŠÄŒÄˆĹŠ (4" "#2ĹŠ"#+ĹŠ .-.!(,(#-3.ĹŠ#-ĹŠ #+ĹŠ 4-".Ä“ ĹŠ 7(23#ĹŠ(-3#1_2ĹŠ"#ĹŠ.1% -(2,.2ĹŠ(-3#1- !(.- Äą +#2ĹŠ#-ĹŠ#+ĹŠ !' 8ēŊ ĹŠĂŒ+3(, ĹŠ/1#2#-3 !(¢-ĹŠ2#ĹŠ '(9.ĹŠ#-ĹŠ 46 (3ēŊ
Ĉ
.2ĹŠ (#-#2ĹŠ!.-2("#1 ".2ĹŠ/ 31(,.-( +#2ĹŠ 04#ĹŠ#23;-ĹŠ"#-31.ĹŠ"#+ĹŠ;1# ĹŠ"#+ĹŠ !' 8ĹŠ2#1;-ĹŠ /1.3#%(".2ēŊ -31#ĹŠ.31.2ĹŠ#23;ĹŠ+ ĹŠ#"(ÄƒĹŠ! !(¢-ĹŠ ".-"#ĹŠ' (3¢Ŋ -3.-(.ĹŠ -3#ĔŊ+~"#1ĹŠ#-ĹŠ+ ĹŠ -"#/#-"#-!( ĹŠ"#+ĹŠ !4 ".1ēŊ
4 -ĹŠ .-3 +5.ĹŠ .1% -(9 ĹŠÄƒĹŠ#23 2ĹŠ
$ BW Y[b[XhWY_ÂŒd feh bei
ŋ*,#' , ŋ*# , ŋ &ŋ " 3ŋ ¥ ēŊ Ŋ/1./4#23 Ŋ"#+Ŋ !' 8Ŋ(,/+(! Ŋ+ Ŋ,#).1 Ŋ"#Ŋ+ 2Ŋ!.-"(!(.-#2Ŋ"#ŊŊ+ 2Ŋ!.,4-(" "#2Ŋ#-Ŋ#+Ŋ2#!3.1ēŊŊ
ĹŠ5(2(3 ĹŠ"#+ĹŠ/1#2("#-3#ĹŠ $ #+ĹŠ .11# ĹŠ 8ĹŠ #-_ĹŠ ,~1#9ĹŠ"#ĹŠ+ ĹŠ #-#2!83ĹŠ"#) 1.-ĹŠ 2#-3 ".ĹŠ#+ĹŠ/+ -Ä“
KhYkgk‡ i[ ^_pe jhWi [ijkZ_ei Z[ ik[be" ][eceh\ebÂŒ]_Yei [ ^_ZhebÂŒ# ]_Yei$ ;d [b fheY[ie i[ f[diÂŒ [d ejhei j[hh_jeh_ei Yece 9k[dYW" Gk[l[Ze o CWY^WY^_$ HWc‡h[p ^WXbW Z[b OWY^Wo Yece kd Yb‘ij[h Yed`kdje Z[ Ye# deY_c_[djei$ Kd |h[W gk[ h[kd_h| W '. _dij_jkjei Z[ _dl[ij_]WY_ÂŒd" [cfh[iW fh_lWZW o kdW Kd_l[hi_# ZWZ 9_[dj‡Ò YW ;nf[h_c[djWb$ ;ZkWhZe HeZh‡]k[p" l_Y[c_# d_ijhe Z[ bW I[d[iYoj" ^WXbW Z[ bW d[Y[i_ZWZ Z[b Z[iWhhebbe Z[b YedeY_c_[dje$ :W kdW ck[ijhW" [d [b (&&, ^kXe ,&& _dl[ij_]W# Zeh[i Yed ]hWZe Z[ F>: ^eo ied Zei c_b$ KdW Y_\hW gk[ Yh[[ ÆBei fW‡i[i gk[ j_[d[ fei_X_b_ZWZ[i Z[ WlWdpWh ied bei gk[ _dl_hj_[hed [d Y_[dY_W o j[Ydebe]‡WÇ W‹WZ_ÂŒ
fh_l_b[]_ei1 Yece [ned[hWY_ed[i jh_XkjWh_Wi" _dY[dj_lei" [djh[ ejhei$ ;d kd fh_c[h cec[dje i[ fh[lƒ Yh[Wh .& f[gk[‹Wi c_# Yhe[cfh[iWi gk[ _dlebkYhWh|d Wb i[Yjeh1 [djh[ ejhei fWhW i[hl_Y_e }ŊěŊ ;d bW Yeckd_ZWZ 7h# [d YedjhW Z[b fbWd$ BWi Wkjeh_ZW# Z[ Yec_ZW" ^eif[ZW`[i$ cWi JebW" Z[iZ[ [b c[Z_e Z‡W Z[ Z[i Z[ bW I[Yh[jWh‡W DWY_edWb Z[ ;ZkYWY_ÂŒd Ikf[h_eh" 9_[d# HWc_he CedYWoe" ][h[dj[ Z[b [ij[ cWhj[i" i[ eh]Wd_pÂŒ Y_W o J[Ydebe]‡W I[d[i# fbWd OWY^Wo" ^WXbW Z[ kd fheY[ie kdW Yec_i_ÂŒd fWhW _h Wb ĹŠ Yoj i[ Yecfhec[j_[hed Z[ Yedl[hj_h W bei W]h_Ykbjeh[i [d [dYk[djhe Z[b fh[i_Z[dj[
_dZkijh_Wb[i$ ;i bW Whj_YkbWY_ÂŒd HW\W[b 9ehh[W" [d IWb_dWi ,(++.-#2ĹŠ#2ĹŠ#+ĹŠ W de [nfhef_Wh bei X_[d[i 5 +.1ĹŠ3.3 +ĹŠ"#ĹŠ+ ĹŠ YeckdWb[i$ Z[ YWZ[dWi fheZkYj_lWi Yecfb[# Z[ ?XWhhW$ ;b fhefÂŒi_je" !1# !(¢-ĹŠ3.3 +ĹŠ"#ĹŠ <[hdWdZe Gk_cX_Wc# c[djWh_Wi$ hWj_Ă’ YWh [b WYk[hZe [ijW# #23 ĹŠ (4" "ēŊ XW" fh[i_Z[dj[ Z[b feXbWZe" @kWd 7bc[_ZW" Z_h_][dj[ Z[b Xb[Y_Ze [b bkd[i Yed bei b‡# XWhh_e BWi C[hY[Z[i" Yh[[ gk[ bW Z[h[i Z[ i_[j[ Yeckd_ZWZ[i fWhW Yh[[ gk[ [i kdW cWYhe fhefk[ijW ][dj[ i[ _dYbk_h| [d fhe]hWcWi _cfkbiWh [b cWYhe fbWd OWY^Wo ]kX[hdWc[djWb gk[ de fk[Z[ ZWh Z[ Z[iWhhebbe ieY_Wb o fbWd[i Z[ Wfh[dZ[ [d a_Y^mW " 9_kZWZ Z[b cWhY^W Wjh|i$ xb Z_Y[ YedĂ’ Wh [d [b WYk[hZe Z[ de W\[YjWY_ÂŒd$ _dj[hl[dY_ÂŒd fheZkYj_lW$ ;d bW 9edeY_c_[dje$ ;djh[jWdje" .+ fhef_[jWh_ei jWhZ[ Z[ Wo[h bb[]ÂŒ `kdje W bW Z[b[# ;d bWi Zei ‘bj_cWi i[cWdWi ]WY_ÂŒd Z[ KhYkgk‡ W IWb_dWi fWhW [d JWf_WfWcXW" 7hcWi JebW" bWi [ij|d [d kd jh|c_j[ Z[ Z[YbWhW# ^WXbWh Yed [b fh[i_Z[dj[ HW\W[b C[hY[Z[i" IWd 7djed_e" IWdjW jeh_W Z[ kj_b_ZWZ f‘Xb_YW$ BW dk[# 9ehh[W o ceijhWhb[ [b WYk[hZe$ HeiW JhWdil[hiWb" IWd L_Y[dj[ o lW 9_kZWZ d[Y[i_jW Z[ * c_b (-& ĹŠ/1./4#23 ĹŠ#-ĹŠ"#3 ++#2 ;d cWhpe Z[ (&'( _d_Y_Wh‡W bW ;b Fk[dj[ ^kXe h[kd_ed[i fWhW ^[Yj|h[Wi$ ;ijW 9_kZWZ j[dZh| jh[i \ehcWi H[dƒ HWc‡h[p" j_jkbWh Z[ bW Z[ Z[iWhhebbe [YedÂŒc_Ye [if[# _dijWbWY_ÂŒd Z[b OWY^Wo" 9_kZWZ ceijhWh bW _Z[W$ KdW i[cWdW Wdj[i" bei c_icei I[d[iYoj" Wi[l[hÂŒ gk[ [i kd fbWd Y_Wb0 YedeY_c_[dje" be]‡ij_YW [ _d# Z[b 9edeY_c_[dje$ Kd Yeije Z[ +& Z_h_][dj[i h[Wb_pWhed kdW cWhY^W gk[ bb[lW Zei W‹ei$ BW [b[YY_ÂŒd Z[ Zkijh_Wb$ Kd [ifWY_e gk[ j[dZh| c_bbed[i [d bW fh_c[hW [jWfW$
ĉć
Ýßŋ'/$ , -ŋ ! -.#)( (ŋ /(ŋ (.,)ŋ
-' W‹ei Z[ fWhhegk_Wb_pWY_ÂŒd Z[ @kWd CedjWble" Z[ C_hW 9WhY^_ [cf[pÂŒ W fh[fWhWh# i[ [d bW jWhZ[ Z[ [ij[ cWhj[i$ ;b / Z[ [d[he [i bW Yedc[# cehWY_ÂŒd$ ;djh[ bei WYjei gk[ i[ fh[lƒ _d_Y_Wh [d bW fh_# c[hW i[cWdW Z[ (&'( [ij| [b fh[]ÂŒd Z[ Ă’ [ijWi" [l[djei YkbjkhWb[i" Z[iĂ’ b[ o i[i_ÂŒd ieb[cd[$ Bei Z_h_][dj[i Z[ bW @kdjW YeehZ_dWd$
., #1.2Ŋ#-Ŋ (-2314!!(¢-
$ Bei _dj[]hWdj[i Z[b 9k[hfe Z[ 8ecX[hei Z[ F_cWcf_he h[Y_X_[hed YWfW# Y_jWY_Œd [d Wi_ij[dY_W W YWiei [c[h][dj[i$ Bei c_[cXhei Z[ bW 9WiWYW He`W Z[ ?XWhhW e\h[Y_[hed [ij[ \ehjWb[Y_# c_[dje WYWZƒc_Ye$ FWhW DW# feb[Œd C[`‡W" 9ecWdZWdj[ Z[b eh]Wd_ice [d F_cWcf_# he" [ijWi WYY_ed[i f[hc_j[d Z_ifed[h Z[ fhe\[i_edWb[i [if[Y_Wb_pWZei$
ĹŠ ŊěŊ BW Eh]Wd_pWY_ÂŒd
+ĹŠ31 -2/.13#ĹŠ#-ĹŠ+ ĹŠ9.- ĹŠ141 +ĹŠ ĹŠ ĹŠ Ä–ĹŠ ĹŠ
ĖŊ 2Ŋ! ,(.-#3 2Ŋ2.-Ŋ4- Ŋ"#Ŋ+ 2Ŋ/1(-!(/ +#2Ŋ$.1, 2Ŋ "#Ŋ31 -2/.13#Ŋ#-Ŋ (, ,/(1.ēŊ Ŋ! 1#-!( Ŋ"#Ŋ341-.2Ŋ"#Ŋ 42#2Ŋ Ŋ+ 2Ŋ / 11.04( 2Ŋ141 +#2Ŋ"#Ŋ '4%;ĔŊ (%2(/ , Ŋ8Ŋ 1( -.Ŋ !.23 Ŋ. +(% Ŋ Ŋ43(+(9 1+.2ēŊ .2Ŋ/ 2 )#1.2Ŋ"# #-Ŋ(1Ŋ#-Ŋ#+Ŋ;1# Ŋ"#Ŋ! 1% ēŊ
Z[ Ck`[h[i 7dj[‹Wi i[ Yh[ÂŒ ^WY[ YkWjhe W‹ei Yed [b fhefÂŒi_je Z[ Z[ Z_\kdZ_h bei Z[h[Y^ei$ ;b fh_d# Y_fWb fbWd gk[ _cfkbiWd [i bW Yh[WY_ÂŒd Z[ kd 9[djhe Z[ 7j[d# Y_ÂŒd ?dj[]hWb$ BW _Z[W [i e\h[Y[h Ykhiei Z[ YWfWY_jWY_ÂŒd" lWbeh[i" Wkje[i# j_cW" Wi[ieh‡W b[]Wb$ CWh_WdW :|l_bW" l_Y[fh[i_Z[djW Z[ bW Eh# ]Wd_pWY_ÂŒd" [nfb_YW gk[ [i _c# fehjWdj[ ieY_Wb_pWh bWi dehcWj_# lWi Yece bW B[o '&) fWhW gk[ i[ [n_`Wd$ ÆI‡ kdW de [ij| [ZkYWZW" de [ij| \ehcWZW i[]k_h| iec[j_# ZW ÆW‹WZ[$ Kd fh_c[h fWie fWhW bW _c# fb[c[djWY_ÂŒd Z[b 9[djhe i[ Z_e$
¥ ēŊ Ŋ !!(¢-Ŋ"#Ŋ #23 2Ŋ,4)#1#2Ŋ2#Ŋ#-! ,(- Ŋ Ŋ#5(3 1Ŋ+ Ŋ 5(.+#-!( Ŋ!.-31 Ŋ+ Ŋ,4)#1ēŊ
;bbWi Yh[Whed kdW eĂ’ Y_dW [d bW i[]kdZW fbWdjW Z[b C[hYWZe Z[ bW fWhhegk_W Z[ 7dZhWZ[ CWh‡d gk[ Xh_dZW Wi[ieh‡W `kh‡Z_YW o WokZW fi_YebÂŒ]_YW$ BW YedikbjW Yk[ijW [djh[ kde o Y_dYe ZÂŒbWh[i$ ;ij[ fheo[Yje be ieij_[d[d bWi '( _dj[]hWdj[i W jhWlƒi Z[ kdW YkejW Z[ Zei ZÂŒbWh[i YWZW c[i o bW ][ij_ÂŒd Wdj[ bWi Wkjeh_ZWZ[i$ BW c[jW [i W]hkfWh kd d‘c[he c|i Wbje Z[ lebkdjWh_Wi$
-ĹŠ! -3.ĹŠ"#ĹŠ 5(" " $ Bei Wbkcdei
Z[b @WhZ‡d Z[ ?d\Wdj[i (, Z[ CWoe Z[ F_cWcf_he YWdjW# hed l_bbWdY_Yei jhWZ_Y_edWb[i o ceZ[hdei$ ;ij[ WYje i[ h[Wb_pŒ [d [b FWhgk[ 9[djhWb Z[b YWdjŒd$ JWcX_ƒd bei c[# deh[i e\h[Y_[hed kd h[]Wbe W bW [Z_b CWohW Cedj[d[]he$ ;ijkl_[hed fh[i[dj[i Wkje# h_ZWZ[i" fWZh[i Z[ \Wc_b_W" [djh[ ejhei$
Ĺ? Ĺ?
Ĺ?
ĉ
ĹŠĹŠ g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
.2Ŋ/1./(#3 1(.2Ŋ "#Ŋ!413(#, 1#2Ŋ "#Ŋ+(!#-!( 2Ŋ , (#-3 +#2Ŋ / 1 Ŋ31 ) 1Ŋ!.-Ŋ -.1, +(" "Ŋ#-Ŋ#+Ŋ /1.!#2.Ŋ"#Ŋ31 3Ĺ ".Ŋ"#Ŋ+ 2Ŋ/~#+#2Ŋ "#Ŋ -(, +#2ēŊ
/#1 3(5.2ĹŠ"#+ĹŠÄƒĹŠ-ĹŠ"#ĹŠ 2#, - $ ;d l_ijW Z[ bWi
YedijWdj[i gk[`Wi o Yece fWhj[ Z[ bW fbWd_Ă’ YWY_ÂŒd [i# jhWjƒ]_YW" bW Feb_Y‡W DWY_edWb h[Wb_pÂŒ kd ef[hWj_le [d bei Y[djhei Z[ Z_l[hi_ÂŒd deY# jkhdW fWhW [l_jWh Z[icWd[i o [l_jWh gk[ bei Zk[‹ei Z[ [ijei bk]Wh[i i[ [nY[ZWd [d bei ^ehWh_ei [ijWXb[Y_Zei$ ;b Z_ifei_j_le i[ Ykcfb_ÂŒ i_d del[ZWZ[i" Wkdgk[ i‡ i[ Z_e bW Z[j[dY_ÂŒd Z[ f[hiedWi gk[ [ijWXWd b_XWdZe [d bW l‡W f‘Xb_YW$
ēŊ -ĹŠ4-ĹŠ"( %-¢23(!.ĹŠ1# +(9 ".ĹŠ#-ĹŠ#+ŊĉććĊŊ-.ĹŠ2#ĹŠ#23 +#!#ĹŠ#+ĹŠ-(5#+ĹŠ"#ĹŠ!.-3 ,(- !(¢-ĹŠ"#+ĹŠ1~.ĹŠ (!' 5~ēŊ 2ĹŠ %4 2ĹŠ2#15(" 2ĹŠ"#+ĹŠÄ‘Ä‡ĹŠĹ˜ĹŠ"#ĹŠ".,(!(+(.2ĹŠ"#ĹŠ+ ĹŠ41 #ĹŠ ++#% -ĹŠ2(-ĹŠ-(-%ĂŒ-ĹŠ31 3 ,(#-3.ēŊ
,' (Ĺ‹*& (Ĺ‹* , Ĺ‹, /* , ,Ĺ‹,v)Ĺ‹ # " 0vĹ‹ +ĹŠ/1(,#1ĹŠ31(,#231#ĹŠ"#+ĹŠÄ‰Ä‡ÄˆÄ‰ĹŠ(-(!( 1;-ĹŠ +.2ĹŠ#234"(.2ĹŠ"#ÄƒĹŠ-(3(5.2ēŊ +ĹŠ/1.8#!3.ĹŠ .1"# 1~ ĹŠ#+ĹŠ,(++¢-ŊĊććŊ,(+ĹŠ"¢+ 1#2ēŊŊ
+#% -Ŋ!.-Ŋ,#-2 )#2Ŋ "#Ŋ!.-!(#-!( !(¢-Ŋ $ Bei XecX[hei
[d YeehZ_dWY_Œd Yed f[hie# dWb Z[ =[ij_Œd Z[ H_[i]ei Yedj_d‘Wd bWi Y^WhbWi Z[ fh[l[dY_Œd [d bei Y[djhei [ZkYWj_lei Z[ bW Y_kZWZ$ ;b eX`[j_le [i [l_jWh [b kie Z[ bW f_hej[Yd_W o Z[ceijhWh bWi Yedi[Yk[dY_Wi \WjWb[i gk[ j_[d[ bW cWd_fkbWY_Œd _dZ[X_ZW Z[ [ijei Whj[\WYjei [nfbei_lei$
7(%#-ĹŠ2#%41(" "#2ĹŠ#-ĹŠ (-3#1! , ( ".1 $ Bei cehWZeh[i
Z[ 9ejWYWY^_" ?bkc|d 8W`e o F_diWgk‡ i[ gk[`Wd Z[ bW \WbjW Z[ Y[hhWc_[dje [d [b fWhj[hh[ fh_dY_fWb Z[ bW Wkje# l‡W$ I[‹WbWd gk[ bW \WbjW Z[ [ijW i[]kh_ZWZ[i _dÓ ko[ [d gk[ bWi f[hiedWi YhkY[d i_d jecWh bWi fh[YWkY_ed[i Z[b YWie$ H[bWjWhed bW ck[hj[ Z[ kd WdY_Wde gk[ \k[ Wjhef[# bbWZe feh kd Wkje \WdjWicW XW`e [b _dj[hYWcX_WZeh Z[ 9ejWYWY^_ [b fWiWZe Ò d Z[ i[cWdW$
ŊěŊ;b Wbje d_l[b Z[ YedjW# c_dWY_ÂŒd Z[b h‡e F_Y^Wl‡ [ij| [d bW bkfW$ FWhW [b fhÂŒn_ce W‹e i[ fh[lƒ _dl[hj_h [d bW h[Ykf[hWY_ÂŒd Z[ [ij[ WĂ“ k[dj[ gk[ WjhWl_[iW feh jeZW bW Y_kZWZ$ ;n_ij[ kd fheo[Y# je gk[ Z[`ÂŒ bW WZc_d_ijhWY_ÂŒd ckd_Y_fWb Wdj[h_eh o gk[ \k[ h[# W`kijWZe$ '&& c_b ZÂŒbWh[i oW i[ Z[ij_dWhed fWhW gk[ [d [b fh_c[h jh_c[ijh[ Z[b (&'( _d_Y_[d bei [i# jkZ_ei Z[Ă’ d_j_lei$
BW i_jkWY_ÂŒd WcX_[djWb Z[b F_# Y^Wl‡ [i Yh‡j_YW fk[i [b .& Z[ bWi W]kWi i[hl_ZWi ][d[hWZWi [d bW Y_kZWZ i[ Z[iYWh]Wd [d [ij[ h‡e$ O [i gk[ WZ[c|i [iWi W]kWi h[Y_X[d [b _cfWYje Z[ bei l[hj_Zei Z[ bWi Ykhj_[cXh[i Wi[djWZWi [d bWi h_X[hWi ZedZ[ Y_dYe j[d[h‡Wi jhWXW`Wd Z[ \ehcW f[hcWd[dj[ o Zei be ^WY[d [ife# h|Z_YWc[dj[$ Bk[]e Z[ _Z[dj_Ă’ YWh bW pedW
#3 ++#2ĹŠ
:_[]e =k_jWhhW" Z_h[Yjeh Z[ =[i# j_ÂŒd 7cX_[djWb" [nfb_YÂŒ gk[ [n_i# j[d Zei Wbj[hdWj_lWi Z[ Ă’ dWdY_W# c_[dje" kde W jhWlƒi Z[b C7; o [b i[]kdZe c[Z_Wdj[ kd YhƒZ_je Z[b 8WdYe Z[b ;ijWZe$ ÆFh_c[he [ijWcei YedĂ’ hcWdZe bei fhe# o[Yjei fWhW YedjWh Yed jeZei bei Wh]kc[djei fWhW [nfhef_Wh$ >Wo fh[ikfk[ije fWhW [b [ijkZ_e o Z_# i[‹e Z[Ă’ d_j_leÇ" _d\ehcÂŒ$ :[ WYk[hZe Wb fbWd _d_Y_Wb" [b cedje fWhW bW h[Ykf[hWY_ÂŒd Z[ bWi W]kWi Z[b h‡e F_Y^Wl‡ XehZ[W# h‡Wd [b c_bbÂŒd )&& c_b ZÂŒbWh[i fk[i ied jh[i a_bÂŒc[jhei Z[ _d# j[hl[dY_ÂŒd$
' (. !ŋ 0#0 ŋ-/-ŋ ðŋ -. -
/ (. Ĺ‹/( Ĺ‹ Ĺ‹ ' /, Ĺ‹ 3Ĺ‹ # "#( " ;d bW Yeckd_ZWZ 9_[be L[hZ[" [d [b b‡c_j[ Z[ ?cXWXkhW o F_Y^_d# Y^W ieXh[ [b h‡e =kWobbWXWcXW i[ b[lWdjÂŒ kd fk[dj[ Z[ ^ehc_]ÂŒd WhcWZe$ ;b fWie j_[d[ kdW [nj[d# i_ÂŒd Z[ ,+ c[jhei o [i Yedi_Z[hW# Ze Z[ l_jWb _cfehjWdY_W fWhW bei Yeckd[hei Z[ '+ beYWb_ZWZ[i Z[ WcXWi fhel_dY_Wi$ ;ijW eXhW [i fWhj[ Z[ bW _dj[h# l[dY_ÂŒd Z[ bW [cfh[iW f‘Xb_YW >_Zhe[gk_deYY_e" Yed Wfehj[i Z[b WYk[hZe Z[ cWdYeckd_ZWZ [d# jh[ lWh_Wi [dj_ZWZ[i i[YY_edWb[i o beYWb[i$ JeZWi [ijWi Yeckd_ZW# Z[i i[ [dYk[djhWd Y_hYkdZWdZe [b |h[W Z[ _dĂ“ k[dY_W Z[ bei fhe# o[Yjei ^_Zhe[bƒYjh_Yei 9^_hWf_ o CWdZkh_WYk$
Z[ _dĂ“ k[dY_W [b Ckd_Y_f_e Z[ij_# dWh| )&& c_b ZÂŒbWh[i fWhW bW [n# fhef_WY_ÂŒd Z[ bei j[hh[dei" gk[ WZ[c|i bei Z[YbWhWh|d Z[ kj_b_# ZWZ f‘Xb_YW$ ;n_ij[d WY[hYWc_[djei Yed [b C_d_ij[h_e Z[b 7cX_[dj[ [d XkiYW Z[b Ă’ dWdY_Wc_[dje Z[ [ij[ fheo[Yje gk[ i[h‡W Yedi_Z[hWZe [d [b i_ij[cW dWY_edWb$ ;n_ij[d Zei fbWdjWi Z[ jhWjW# c_[dje gk[ \k[hed Yedijhk_ZWi [d BW 9Wb[hW o Gk_he]W f[he gk[ dkdYW [djhWhed [d \kdY_e# dWc_[dje$ ;d YWcX_e" [d [b h‡e F_Y^Wcl_Y^[ YkWjhe jWdgk[i Z[ YWhWYj[h‡ij_YWi i_c_bWh[i jhWjWd bWi W]kWi h[i_ZkWb[i$
¥ ēŊ . 1#Ŋ#+Ŋ1~.Ŋ 4 8+Ĺ + , Ŋ2#Ŋ!.-23148¢Ŋ#+Ŋ/ 2.Ŋ/ 1 Ŋ /#12.- 2Ŋ8Ŋ5#'~!4+.2ēŊŊ
BW eXhW \k[ kd h[gk[h_c_[dje YedijWdj[ Z[ bei bk]Wh[‹ei gk[ d[Y[i_jWXWd kd d[ne Z[ Yeckd_# YWY_ÂŒd fWhW c[`ehWh [b Yec[hY_e Z[ fheZkYjei W]h‡YebWi o [b jkh_i# ce Z[ bWi Zei fhel_dY_Wi$ BW [djh[]W i_cXÂŒb_YW Z[b fk[d# j[ i[ Z_e [b Ă’ d Z[ i[cWdW$ CehW# Zeh[i o Wkjeh_ZWZ[i Z[ F_Y^_dY^W [ ?cXWXkhW fWhj_Y_fWhed" WZ[c|i h[_j[hWhed bei fheo[Yjei Z[ l_Wb_# ZWZ o [ZkYWY_ÂŒd gk[ cWdj_[d[d
Bei ((' W‹ei Z[ l_ZW fWhhegk_Wb Z[ ?cWdjW] i[ \[ij[`Wd W be ]hWd# Z[ [d [iW beYWb_ZWZ$ ;b Ă’ d Z[ i[# cWdW i[ [b_]_ÂŒ W bW dk[lW ieX[# hWdW o ik Yehj[ Z[ ^edeh$ ;d kd WYje ]WbWdj[ bb[de Z[ Yebeh_Ze" Y_dYe YWdZ_ZWjWi fWhj_Y_fWhed [d [b Y[hjWc[d Z[ X[bb[pW ZedZ[ 7d_jW 9WX[pWi" \k[ [b[]_ZW H[_# dW Z[ ?cWdjW] (&''#(&'($ 7hj_ijWi Z[ bW fWhhegk_W Z[# b[_jWhed Yed iki c[beZ‡Wi o ZWd# pW W bei Wi_ij[dj[i" Wi‡ Yece bei ]hkfei Z[ c‘i_YW Z[b fheo[Yje ;cfh[dZ[Zeh[i Z[ FWp$$ BW dk[lW ieX[hWdW Z[ ?cWd# jW] hWj_Ă’ YÂŒ [b Yecfhec_ie Z[ jhWXW`Wh [d X[d[Ă’ Y_e Z[ bW d_#
ēŊ -(3 Ŋ #9 2Ŋ#2ŊŊ+ Ŋ -4#5 Ŋ1#(- Ŋ"#Ŋ , -3 %Ŋ8Ŋ)4-3.Ŋ Ŋ24Ŋ !.13#Ŋ"#Ŋ'.-.1Ŋ2#Ŋ!.,/1.,#3(¢Ŋ Ŋ 31 ) 1Ŋ/.1Ŋ24Ŋ/ 11.04( ēŊ
‹[p o `kl[djkZ$ :_`e WZ[c|i gk[ i[ l_dYkbWh| Yed bei fheo[Y# jei _dYbko[dj[i o ieb_ZWh_ei gk[ i[ cWd[`Wd [d bW fWhhegk_W$ ;b Z[iĂ’ b[ Y‡l_Ye o bW i[i_ÂŒd ieb[cd[ Z[ bW Y[b[XhWY_ÂŒd i[ Ykcfb_h| [b l_[hd[i ', Z[ Z_# Y_[cXh[ [d ^ehWi Z[ bW cW‹WdW" WZ[c|i fh[i[djWh|d bW cWgk[jW Z[ bW kd_ZWZ [ZkYWj_lW Z[b C_# b[d_e$
#%4-".ĹŠ!.-!412.ĹŠ"#ĹŠ,ĂŒ2(! ĹŠ- !(.- +
+ĹŠÄŠÄˆĹŠ"#ĹŠ"(!(#, 1#ĹŠ#-ĹŠ+ ĹŠ!(4" "#+ ĹŠ !(-3.ĹŠ .++ '4 9.ĔŊ/1(,#1 ĹŠ#3 / ĔŊ2#ĹŠ"#2 11.++ 1;ĹŠ#+ĹŠ2#%4-".ĹŠ$#23(5 +ĹŠ"#ĹŠ,ĂŒ2(! ĹŠ- !(.- +ĹŠ/ 1 ĹŠ ă!(.- ".2ēŊ .2ĹŠ 13(23 2ĹŠ #23;-ĹŠ(-5(3 ".2ĹŠ ĹŠ2#1ĹŠ/ 13#ĹŠ"#ĹŠ#23#ĹŠ#5#-3.ĹŠ,42(! +ēŊ 2ĹŠ(-2!1(/!(.-#2ĹŠ-.ĹŠ3(#-#-ĹŠ!.23.ēŊ .2ĹŠ/ 13(!(/ -3#2ĹŠ1#!( (1;-ĹŠ/1#,(.2ĹŠ8ĹŠ"(/+., 2ēŊ .1ĹŠ2#%4-".ĹŠ  .ĹŠ !.-2#!43(5.ĹŠ2#ĹŠ"#2 11.++ 1;ĹŠ#23#ĹŠ !3.ĹŠ04#ĹŠ345.ĹŠ !.%(" ĹŠ#+ĹŠ  .ĹŠ/ 2 ".ēŊ 1 ĹŠ ,(1.ĹŠ 1 9.ĔŊ/1#2("#-3#ĹŠ"#ĹŠ+ ĹŠ!(4" "#+ ĔŊ#23#ĹŠ#5#-3.ĹŠ#2ĹŠ4-ĹŠ#2/ !(.ĹŠ/ 1 ĹŠ4-(1ĹŠ ĹŠ +.2ĹŠ.3 5 +# .2ĹŠ8ĹŠ$#23#) 1ĹŠ4-ĹŠ  .ĹŠ04#ĹŠ3#1,(- ĹŠ#-31#ĹŠ5#!(-.2ĹŠ 11( +#2Ä“
g Ĺ? Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
ÄŠ
)&v.# -Ĺ‹*Ă„ &# -Ĺ‹* , Ĺ‹ /&./, Ĺ‹
ĹŠĹŠ
:khWdj[ Zei c[i[i bei WYjeh[i YkbjkhWb[i beYWb[i jhWXW`Whed [d jWbb[h[i Z[ bei gk[ h[ikbjWhed fhefk[ijWi Z[ feb‡j_YWi Ykbjk# hWb[i fWhW [b YWdjŒd$ 9ed bei fbWdj[Wc_[djei" i[]‘d CWhbed =Œc[p" Z_h[Yjeh Z[ ;ZkYWY_Œd o 9kbjkhW Z[b Ckd_Y_f_e" i[ Z[iYWhjW bW _Z[W gk[ de ^Wo WY# jeh[i YkbjkhWb[i [d EjWlWbe$ BW Eh]Wd_pWY_Œd Z[ bWi DW# Y_ed[i Kd_ZWi fWhW bW ;ZkYW# Y_Œd" bW 9_[dY_W o bW 9kbjkhW Kd[iYe " [b C_d_ij[h_e Z[ 9kb# jkhW o [b Ckd_Y_f_e Z[ EjWlWbe" [d [ij[ c[i j[hc_dWd Yed bei jWbb[h[i gk[ WXh_[hed [ifWY_ei fWhW _dlebkYhWh W bei WYjeh[i YkbjkhWb[i Z[b YWdjŒd$ BW _dj[dY_Œd" i[]‘d =Œc[p [i ZWh [b kie W bWi _dijWbWY_e# d[i gk[ i[ Yedijhko[hed fWhW _cfkbiWh [ijW |h[W$ F[hiedWi a_Y^mWi Z[b fk[Xbe EjWlWbe o 9WoWcX_ o cW[ijhei Y_[hhWd [ijW \Wi[ Z[ YWfWY_jWY_Œd" gk[ jhWXW`Wd [d bW [bWXehWY_Œd Z[ kd XehhWZeh Z[ ehZ[dWdpW$ I_ [d [ijei Z‡Wi i[ eXj_[d[
#%ĂŒ-ĹŠ#+ĹŠ(-$.1,#ĹŠ "#+ĹŠ,_"(!.ĹŠ+#%(2Äą 3 ĹŠ^1(* ĹŠ"#ĹŠÄˆÄŒĹŠ  .2ĹŠ"#ĹŠ#" "ĔŊ ' 1~ ĹŠ2(".ĹŠ 42 " ĹŠ2#74 +Äą ,#-3#Ä“
ÄĄ - ĹŠ/1./4#23 ĹŠ"#ĹŠ .1"#- -9 ĹŠ/1#2#-Äą 3 1;-ĹŠ+.2ĹŠ !3.1#2ĹŠ !4+341 +#2ĹŠ/ 1 ĹŠ04#ĹŠ2#ĹŠ /+ 2,#ĹŠ#-ĹŠ/.+~3(! 2ĹŠ/ĂŒ +(Äą ! 2Ģ ĹŠ ÂĄ
ĹŠ ĹŠ ÂĄ ĹŠ ĹŠ Ä“
[b fh_c[h XehhWZeh Z[ bW ehZ[# dWdpW" bW dehcW Z[Ă’d_j_lW i[ [ijWh‡W fh[i[djWdZe [d [d[he Z[b (&'( W bW 9|cWhW ;Z_b_Y_W" fWhW ik Wd|b_i_i o WfheXWY_ÂŒd$
(/( # (ŋ ŋ$)0 (ŋ 3ŋ )& - (. ŋ ŋ /-)ŋ- 2/ & ēŊ (,#Ŋ)4-3.Ŋ Ŋ24Ŋ, "1#Ŋ#-Ŋ+ Ŋ (2! +~ Ŋ-.Ŋ' ++ Ŋ!.-24#+.ĔŊ"().Ŋ04#Ŋ-.Ŋ!.,#3(¢Ŋ-(-%4- Ŋ5(.+ !(¢-ēŊ
.2Ŋ ".+#2!#-3#2Ŋ' 1~ -Ŋ2(".Ŋ5(.+ Ĺ " 2Ŋ!4 -".Ŋ#23 -Ŋ+( -".Ŋ!.-Ŋ+.2Ŋ 24/4#23.2Ŋ %1#2.1#2ēŊ ě ;Zm_d" Z[ '- W‹ei Z[
[ZWZ" de iWX‡W bW cW]d_jkZ Z[b fheXb[cW [d [b gk[ [ij| _dlebk# YhWZe feh kd ikfk[ije WXkiei i[nkWb gk[ ^WXh‡Wd Yec[j_Ze ƒb o i[_i YecfW‹[hei Z[ Yeb[]_e$ 9ed bbWdje [ijh[c[Y[Zeh f[Z‡W f[hZŒd W ik cWZh[" gk_[d Z[i# YediebWZW be h[fh[dZ_Œ o i[ ieh# fh[dZ_Œ" feh gkƒ Z_`e gk[ ƒb de iWX‡W _d][h_h b_Yeh$ I[]‘d l[hi_ed[i" [b WZeb[i# Y[dj[ `kdje W ejhe YecfW‹[he" Z[ifkƒi Z[ ^WX[h h[dZ_Ze bei [n|c[d[i iWb_[hed Z[b Y[djhe [ZkYWj_le o feh bW YWbb[ IkYh[ YecfhWhed kdW Xej[bbW Z[ b_Yeh" [d [b YWc_de i[ ikcŒ ejhW f[h# iedW o i[ \k[hed Wb fWhgk[ I[blW
7b[]h[" Wb E[ij[ Z[ EjWlWbe$ 9kWdZe [ijWXWd [d [ij[ bk]Wh" WfWh[Y_[hed Zei Y^_YWi Yed iki Wc_]ei" gk[ jWcX_ƒd [ijWh‡Wd b_XWdZe" i[ W]hkfWhed Yed bei ejhei Y^_Yei o i[ gk[ZWhed _d]_# h_[dZe b_Yeh" [hWd [ijkZ_Wdj[i Z[ ejhW _dij_jkY_Œd [ZkYWj_lW" [ije ikY[Z_Œ W bWi '&0&& Z[b bkd[i$ 9kWdZe bWi WZeb[iY[dj[i Z[ '* o '+ W‹ei Z[ [ZWZ" [ijWXWd cWh[WZWi YhkpWhed bW fWdWc[# h_YWdW fWhW Z_h_]_hi[ ikfk[ijW# c[dj[ W ik YWiW" [d [i[ _dijWdj[ kd Wc_]e Z[ bW \Wc_b_W Z[ kdW Z[ [bbWi" xh_aW" be c_hŒ o Z_e Wl_ie W bW cWc| gk[ bWi [ijkZ_Wdj[i i[ [dYedjhWXW [d [ijWZe [j‡b_Ye$ 9kWdZe ik cWZh[ CWh]Wh_jW"
bb[]ÂŒ Wb i_j_e _dZ_YWZe" [dYedjhÂŒ W @W_c[" Z[ '. W‹ei Z[ [ZWZ ie# Xh[ [b Yk[hfe Z[ bW c[deh" [d [i[ cec[dje b[ W]h[Z_[hed \‡i_YW# c[dj[ o be h[jkl_[hed fWhW ZWh Wl_ie W bW Feb_Y‡W$ Bei ][dZWhc[i be jhWibWZW# hed ^WijW [b ^eif_jWb IWd Bk_i Z[ EjWlWbe o Yed [b <_iYWb Z[ jkhde h[Wb_pWhed bei jh|c_j[i b[]Wb[i o cƒZ_Yei$ (!3 ,#-ĹŠ"#+ĹŠ 4#9 ;b @k[p J[hY[h Z[ =WhWdj‡Wi F[# dWb[i" Z_YjÂŒ fh_i_ÂŒd fh[l[dj_lW [d YedjhW Z[ @W_c[$ >eo i[h| jhWibWZWZe Wb 9[djhe Z[ H[^W# X_b_jWY_ÂŒd Z[ ?XWhhW$ 7o[h [d bW jWhZ[ i[ h[Wb_pÂŒ bW \ehckbWY_ÂŒd Z[ YWh]ei [d YedjhW Z[ ;Zm_d" Z[ '- W‹ei Z[ [ZWZ" gk_[d ikfk[ijW# c[dj[ o Yed Yedi[dj_c_[dje Z[ O[i[‹W Z[ '+ W‹ei" ^WXh‡Wd cWd# j[d_Ze h[bWY_ed[i i[nkWb[i" iWb_ÂŒ b_X[h[ Yed c[Z_ZWi YWkj[bWh[i$
ēŊ +Ŋ/#12.- +Ŋ ., #1(+Ŋ! / !(3¢Ŋ Ŋ+.2Ŋ#234"( -3#2Ŋ"#Ŋ2(#3#Ŋ#2!4#+ 2Ŋ "#Ŋ+ Ŋ!(4" "Ŋ2. 1#Ŋ#+Ŋ/#+(%1.Ŋ"#Ŋ+.2Ŋ#7/+.2(5.2ē
#!#& ,6(Ĺ‹+/ Ĺ‹&)-Ĺ‹ 0 ( ), -Ĺ‹ /'*& (Ĺ‹& Ĺ‹& 3 ;d bW j[cfehWZW dWl_Z[‹W bei fh[Y_ei Wkc[djWd feh bW ]hWd Z[cWdZW Z[ bei Yedikc_Ze# h[i$ FWhW gk[ bW [if[YkbWY_ÂŒd de i[W fh[iW Z[ bei YecfhWZe# h[i bWi Wkjeh_ZWZ[i Z[ Yedjheb _dif[YY_edWh|d bei beYWb[i Z[ l[djWi Z[ YedĂ’j[i" b_Yeh[hWi" l[djW Z[ fheZkYjei Z[ fh_c[hW d[Y[i_ZWZ" [djh[ ejhei$ 7dZhƒi He`Wi" Yec_iWh_e DWY_edWb" jWcX_ƒd Wb[hjÂŒ W bei Yec[hY_Wdj[i gk[ [b cWj[h_Wb [nfbei_le [ij| fhe^_X_Ze d[#
]eY_Whbe$ Bei fWfWjhk[dei" Y^_if[hei" lebWZeh[i" i_bXWZe# h[i de Z[X[d i[h cWd_fkbWZei feh f[hiedWi" fehgk[ fk[Z[d [nfbejWh$ 7Z[c|i" WZl_hj_ÂŒ gk[ bei Whj[iWdei gk[ [bWXehWd bei bbW# cWZei YWij_bbei Z[X[d YedjWh Yed f[hc_iei o bWi f[hiedWi gk[ lWd W kj_b_pWh [d bWi Ă’[i# jWi Wi[iehWhi[ Yed ][ij_ÂŒd Z[ h_[i]ei" XecX[hei" fWhW [l_jWh WYY_Z[dj[i$
Ĺ? Ĺ?
Ĺ?
Ä Ä€
g Ĺ? Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
#-#)( -Ĺ‹ / &/* ( -Ĺ‹ (Ĺ‹ (Ĺ‹ &) ;d bW Yeckd_ZWZ Z[ 9WiYe LWb[dpk[bW Z[ bW fWhhegk_W Z[ IWd FWXbe i[ [dYk[djhW [b Y[djhe Z[ \ehcWY_ÂŒd Yh_ij_W# dW$ 7b cec[dje i[ [dYk[d# jhWd eY^e c_i_ed[hWi _dZ‡][# dWi$ BW ‘bj_cW [d YediW]hWh ik l_ZW [d bW <hWj[hd_ZWZ Z[ C_i_ed[hWi" [i CWh‡W BbWc# Xe$ Iki fWZh[i" [djh[]Whed [b ]kWd]e Z[ ^_bWh" Yece i‡cXe# be Z[ Ă’ Z[b_ZWZ" h[ifediWX_b_# ZWZ o Yecfhec_ie$ 7Z[c|i h[Y_X_ÂŒ bW Yhkp Z[ 9h_ije Yed [b[c[djei fhef_ei Z[ bW Yei# cel_i_ÂŒd WdZ_dW" gk[ [i [b j[ij_ced_e Z[ l_ZW o [b c[d# iW`[ Z[ iWblWY_ÂŒd$ Cedi[‹eh" LWbj[h CW]]_" eĂ’ Y_ÂŒ bW [kYW# h_ij‡W Z[ [ij[ WYedj[Y_c_[dje h[b_]_eie$
¥ ēŊ 2Ŋ+#8#2Ŋ/1.'~ #-Ŋ#+Ŋ31 ).Ŋ(-$ -3(+ĔŊ#+Ŋ31 ).Ŋ"#Ŋ+ 2Ŋ 43.1(" "#2Ŋ2#Ŋ24, -Ŋ/ 1 Ŋ!.-31 11#23 1Ŋ#23#Ŋ/1. +#, Ŋ2.!( +ēŊ
Ĺ‹*)( (Ĺ‹ &Ĺ‹)$)Ĺ‹ &Ĺ‹., $)Ĺ‹#( (.#& +ĹŠ31 ).ĹŠ2#ĹŠ1#". + ĹŠ/ 1 ĹŠ04#ĹŠ+.2ĹŠ-(Â .2ĹŠ 04#ĹŠ2.-ĹŠ43(+(9 ".2ĹŠ/ 1 ĹŠ31 ) 1ĹŠ#-ĹŠ+ 2ĹŠ ! ++#2ĹŠ2# -ĹŠ"#54#+3.2ĹŠ ĹŠ242ĹŠ'.% 1#2Ä“ Ä› ;d bW fWhhegk_W IWd
¥ ēŊ -Ŋ'.-.1Ŋ Ŋ+ Ŋ (1%#-Ŋ "#Ŋ 4 " +4/#ĔŊ+ 2Ŋ,(2(.-#1 Ŋ !.-2 %1 -Ŋ24Ŋ5(" ē
HW\W[b" W‘d de i[ Yedi_]k[ [hhW# Z_YWh [b jhWXW`e _d\Wdj_b Z[ WZkb# jei cWoeh[i W YWXWb_ZWZ" Z_`e =[hc|d 9WijW‹[ZW" YeehZ_dWZeh Z[b fheo[Yje M_‹Wh_$ ;ijW [dj_# ZWZ Yed [b Wfeoe Z[b C_d_ij[h_e Z[ ?dYbki_Œd ;YedŒc_YW o Ie# Y_Wb" Z[iZ[ [b (&&. jhWXW`W fWhW [hhWZ_YWh [b jhWXW`e _d\Wdj_b$ Bei d_‹ei o WZeb[iY[dj[i h[Y_# X[d [ZkYWY_Œd" fWhW gk[ j[d]Wd kdW fhe\[i_Œd o [dYk[djh[d kd
[cfb[e i[]khe$ Bei [ijkZ_Wdj[i o fWZh[i Z[ \Wc_b_W ied YedY_[d# Y_WZei fWhW gk[ de WXWdZed[d bWi [iYk[bWi e Yeb[]_ei$ BW bWXeh [i i[di_X_b_pWh W bWi \Wc_b_Wi" fWhW gk[ de f[hc_jWd gk[ bei WZkbjei cWoeh[i o d_‹ei iWb]Wd W bWi YWbb[i W f[Z_h YWh_ZWZ [d bW DWl_ZWZ o [d ejhWi \[Y^Wi$ FWhW gk[ [b fbWd \kdY_ed[ i[ YeehZ_dW WYY_ed[i Yed bWi Wkje# h_ZWZ[i Yeckd_jWh_Wi fWhW gk[ Wfeo[d bW YWcfW‹W Æ:W Z_]d_#
'* 4šŋ & ŋðŋ -. Ĺ‹ ( 0# ˜ )3Ĺ‹- Ĺ‹)ðŋ #  Ĺ‹- !/( )Ĺ‹ Bei /.- [ijkZ_Wdj[i Z[ bW kd_ZWZ Z[b C_b[d_e gk[ \kd# Y_edW [d [b XWhh_e IWd @kWd" i[ Z_h_]_[hed feh bWi fh_d# Y_fWb[i YWbb[i Z[ bW Y_kZWZ ^WijW [b iWdjkWh_e Z[ IWd Bk_i" fWhW [iYkY^Wh bW c_iW" o h[YehZWh [b WYedj[Y_c_[dje c|i ]hWdZ[ Z[djhe Z[b ckd# Ze Yh_ij_Wde0 [b dWY_c_[dje Z[b d_‹e @[i‘i$ BW iW]hWZW \Wc_b_W Z_h_]_ÂŒ W bei [ijkZ_Wdj[i" gk[ Yed Wjk[dZe Z[ bW ƒfeYW YWc_# dWhed Z[iZ[ bW _dij_jkY_ÂŒd [ZkYWj_lW$ Ied bei fh_c[hei Wbkcdei gk[ i[ l_ikWb_pWhed [d bWi YWbb[i$
WZkbjei cWoeh[i gk[ l_W`Whed W ZWZ [d [ijW DWl_ZWZÇ$ BW _Z[W [i gk[ bWi f[hiedWi de Gk_je W ieb_Y_jWh ZkbY[i" hefW o [djh[]k[d ]Wbb[jWi" YWhWc[bei" `k]k[j[i [d bW DWl_ZWZ$ <k[hed Z_d[he$ BW ieb_ZWh_ZWZ lW c|i WXehZWZei [d [iW Y_kZWZ$ FWhW HeiWblW Fk[dj[" [i kdW Wbb|" Z_`e 9WijW‹[ZW$ FWhW ƒb" bW efehjkd_ZWZ Z[ [djh[]Wh Z_]d_ZWZ j_[d[ cWoeh lW# Wb]‘d fh[i[dj[ W bei d_‹ei beh o be gk[ f[hZkhW [d bei ĹŠĹŠ o f[hiedWi cWoeh[i Z[ i[h[i ^kcWdei$ [ZWZ gk[ ied _dZ_][dj[i" BW 9hkp He`W" [b Ck# d_Y_f_e i[h|d bei i_j_ei W .2ĹŠ#234"( -3#2ĹŠ 04#ĹŠ"#2#13 1.-ĹŠ f[he jWcX_ƒd iWX[ gk[ [b ZedZ[ bei ejWlWb[‹ei fk[# "#ĹŠ+ 2ĹŠ#2!4#+ 2ĹŠ ;ijWZe [i [b h[ifediWXb[ Z[d WYkZ_h" fWhW Z[`Wh `k# $4#1.-ĹŠ !.%(".2ĹŠ /.1ĹŠ ( 1(ĔŊ!.1Äą Z[ [ijWi f[hiedWi" feh be ]k[j[i" fheZkYjei Wb_c[d# 1~ -ĹŠ#+ĹŠ1(#2%.ĹŠ"#ĹŠ gk[ Z_`e gk[ [djh[]Wh| bWi 2#ĹŠ#7/+.3 ".2ĹŠ ZedWY_ed[i [d bei bk]Wh[i j_Y_ei de f[h[Y_Xb[i" hefW /.1ĹŠ "4+3.2Ä“ [ijWXb[Y_Zei$ 7YejÂŒ gk[ [d Xk[d [ijWZe$ i[ YedijhkoWd i_j_ei Z[ Wb# X[h]k[ fWhW bei d_‹ei o WZkbjei (%1 !(¢-ĹŠ"#ĹŠ-( .2 ;b W‹e fWiWZe h[]h[iWhed Zei cWoeh[i gk[ Z[WcXkbWd feh bWi Xki[i Z[ f[hiedWi [djh[ d_‹ei o YWbb[i$
#-.,#.)
Bei YWdjed[i Z[ EjWlWbe o 7d# jed_e 7dj[ \ehcWd [b i[]kdZe :_ijh_je Z[ bW fhel_dY_W" Z[dec_# dWZe LWbb[ Z[b 7cWd[Y[h$ FWhW eĂ’ Y_Wb_pWh jeZe [b jhWXW`e" ^eo i[ _dWk]khWh| [b i[]kdZe :_ijh_je" W bWi '&0&&$ J[bce 8[jWdYekhj^" `[\[ Z[b i[]kdZe :_ijh_je" LWbb[ Z[b 7cW# d[Y[h" Z_`e gk[ bei Yedjheb[i Z_W# h_ei o f[hcWd[dj[i i[ fbWd_Ă’ YWd Yed bei Z_h_][dj[i XWhh_Wb[i o i[ YeehZ_dWd WYY_ed[i Yed Z_h_][d# j[i Yeckd_jWh_ei$ 7Z[c|i" i[ l_]_bWd bei Y[d#
jhei [ZkYWj_lei o pedWi [ijhW# jƒ]_YWi" ZedZ[ bW Z[b_dYk[dY_W ^WY[ Z[ bWi ikoWi$ BWi kd_ZWZ[i Z[ Feb_Y‡W 9eckd_jWh_W Yk[d# jWd Yed YkWjhe ][dZWhc[i" YWZW kde" gk_[d[i fWjhkbbWd [b i[Yjeh gk[ b[i Yecf[j[$ ;d EjWlWbe ^Wo '( Y_hYk_jei o [d 7djed_e 7dj[ YkWjhe" ikcWd ',$ Bei ^WX_jWdj[i Z[b i[]kdZe :_ijh_je" YedeY[h|d bei fehc[# deh[i Z[ bW eh]Wd_pWY_Œd gk[ bW Feb_Y‡W j_[d[ fWhW Xh_dZWh i[]k# h_ZWZ$
¥ ēŊ .2Ŋ!(1!4(3.2Ŋ#23 1;-Ŋ5(%(+ ".2Ŋ/#1, -#-3#,#-3#Ŋ/.1Ŋ+.2Ŋ /.+(!~ 2ē
(1#ũ242ũ$.3.2ũ#-Ė 666ē+ '.1 ē!.,ē#!
g ŏ āąŏ ŏ ŏĂĀāā
ŏ +. ŏ ġ
1(23( -ũ .1"(++.Ĕũ #2#-( ũ 4#-3#Ĕũ #+2.-ũũ -"1 "#ē 21 #+ũ +,#(" Ĕũ 1+ ũ 4#5 1 Ĕũ 5("ũ ';5#9ũ8ũ . #13.ũ 1 9.ũ"#ũ ē
(#23 ũ 204#3#1 )(,#- -ŋ3ŋ'/ ")ŋ (./-# -')ŋ / ŋ &ŋ*,#( #* &ŋ & ' (.)ŋ (ŋ& ŋ#( /!/, # (ŋ &ŋ.),( )ŋ ŋ &)( -.)ŋ+/ ŋ),! (#4 ŋ & ŋ #! ŋ (.)( &ŋ ŋ . 0 &)Ąŋ &ŋ.),( )ŋ ,, ( ŋ - ŋ -. ŋ - ' ( ŋ )(ŋ&)-ŋ* ,.# )-ŋ)ðŋ # & -Ąŋ ,#)-ŋ *),.#-. -ŋ*)- Ě ,)(ŋ* , ŋ& ŋ (. ŋ ŋ ŋ ), ŋ+/# (ŋ -./0)ŋ "vŋ *. ( )ŋ&)-ŋ ' $), -ŋ')' (.)-ŋ &ŋ ,. ' (ŋ *),.#0)Ąŋ
2(23#-!(
.,.ũ#2ũ! 1 !3#1~23(!.ũ#-ũ+.2ũ ăũ!(.- ".2ũ.3 5 +# .2ũ24ũ ,.1ũ /.1ũ#23#ũ"#/.13#ēũ ũ31( 4- ũ"#+ũ .+(2#.ũ 1 -!(2!.ũ ;#9ũ+4!(¢ũ++#- ē
-#3'ũ (1 -" Ĕũ (-3'( ũ -"1 "#Ĕũ 4!( ũ ;5(+ ē
5(#1ũ 404#Ĕũ .- 3' -ũ ;-!'#9Ĕũũ . #13ũ .) 2Ĕũ .2_ũ 1#"#2ũ ē
(+.ũ 23_5#9Ĕũ 5("ũ .) 2Ĕũ -3( %.ũ 4#5 1
āā
āĂ
(1#ũ242ũ$.3.2ũ#-Ė 666ē+ '.1 ē!.,ē#!
g ŏ āąŏ ŏ ŏĂĀāā
ŏ +. ŏ ġ
(9#3'ũ !.23 ũ8ũ 1+ ũ .11#2ē
( +-#8ũ 9! -.Ĕũ 1+ ũ #"¢-ũ8ũ 8ũ 104#" ē
-ũ2; ".ũ "#ũ$ 11
),,# ( )ŋ/(ŋ , -ŋ (ŋ ,, ŋ ( )(., ')-ŋ ŋ.) )ŋ /(ŋ*) )ŋ / ( ŋ'Ä-# ąŋ )-ŋŋ ) *. & -ąŋ &ŋ ' # (. ąŋ3ŋ& ŋ ' $),ŋ ,, ŋ ŋ& ŋ() " ąŋ #-Ě ,/. ŋ ŋ&)-ŋ , -ŋ3ŋ& ŋ! (. ŋ +/ ŋ.# ( ŋ(/ -., ŋ /# Ąŋ
#22(! ũ ¢/#9ũ8ũ -3( %.ũ +"(5(#2.ũē
#++ũ ! !!.Ĕũ 7ũ +,#(" Ĕũ .2_ũ + 1!¢-Ĕũ 1(23( -ũ #+(ũ8ũ 1(#+ũ 1#1 ē
#"(! 3.1(
-ũ4-.2ũ"#ũ+.2ũ 1#2ũ#-!.-31 ,.2ũ ũ4-ũ! -3 -3#ũ++ , ".ũ (! 1".ũ
#¢-Ĕũũ!#+# 1;-".+#2ũ#+ũ!4,/+# ı .2ũũ ũ24ũ ,(%.ũ"#"(!;-".+#ũ4- ũ ! -!(.-#2ũ"#ũ$#+(!(" "#2ũ8ũ ,(2ı 3 "Ĕũ+ ũ%#-3#ũ /+ 4"~ ũ8ũ! -3 -ũ !.-ũ#+ē
1.+(- ũ 4(9ũ8ũ "1( -ũ .1 +#2ē
-3'.-8ũ ¢/#9ũ8ũ .' -- ũ (2-#1.2ũ!4,/+#-ũ4-ũ .ũ)4-3.ē
ƒ Ä
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
g Ĺ?Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
3ŋ ŋ& ŋ /( #š(ŋ
!#-& .#0 Ĺ‹ -. ( +ĹŠ/ 1#!#1ĹŠ#+ĹŠ !4#1".ĹŠ BW \WbjW Z[ Yedi[diei [d [b Xbe# "#ĹŠ+.2ĹŠ +( ".2ĹŠ!.-ĹŠ gk[ F7?I" [ _dYbkie [d bW XWd# ĹŠ$4#ĹŠ2.+.ĹŠ/ 1 ĹŠ YWZW Z[ bW efei_Y_ÂŒd" eXijWYkb_pÂŒ Wo[h bW lejWY_ÂŒd Z[b fheo[Yje Z[ ! /3 1ĹŠ/1#2("#-!( 2ĹŠ.ĹŠ5(!#Äą B[o Eh]|d_YW Z[ bW <kdY_ÂŒd B[# /1#2("#-!( 2Ģē ĹŠ ]_ibWj_lW BE<B $ } ĹŠ ĹŠ 9_dYe j[cWi [djhWcfWhed bW lejWY_ÂŒd Z[b fheo[Yje gk[ Wo[h" W bWi ',0&&" gk[ZÂŒ b_ije fWhW i[h I^[hpdWhZW <[hd|dZ[p o =[eYed# WfheXWZe$ Kde Z[ bei jÂŒf_Yei j[# ZW IWbjei" fWhW ]WhWdj_pWh gk[ bei d‡W gk[ l[h Yed gk[ bei `k_Y_ei `k_Y_ei feb‡j_Yei i[Wd YedeY_Zei feb‡j_Yei i[Wd YedeY_Zei o Wfhe# [d [b fb[de o de i[Wd WhY^_lWZei XWZei [d [b fb[de Yed kdW cWoe# [d bW 9ec_i_ÂŒd Z[ <_iYWb_pWY_ÂŒd$ ;b b[]_ibWZeh h[YehZÂŒ gk[ Yed [iei h‡W WXiebkjW ,) lejei $ ;b b[lWdjWc_[dje Z[ bW _dck# c_icei lejei i[ be]hÂŒ _cf[Z_h d_ZWZ W bei WiWcXb[‡ijWi Yed bWi gk[ i[ b[lWdj[ bW _dckd_ZWZ W Zei j[hY[hWi fWhj[i Z[b Fb[de .) =Wbe BWhW FIF $ Kde Z[ bei Z[iWYk[hZei _dj[h# lejei " gk[ [b fh[i_Z[dj[ Z[ bW 7iWcXb[W i[W Z[ij_jk_Ze Z[b YWh# dei [d F7?I i[ [l_Z[dY_WXW feh ]e Yed bW iWbl[ZWZ Z[ [ijWXb[Y[h bW fei_X_b_ZWZ Z[ gk[ [b fh[i_Z[d# kd ÆYWdZWZeÇ fWhW gk[ [ije iebe j[ Z[ bW 7iWcXb[W fk[ZW i[h Z[i# i[W fei_Xb[ Yed bW Ă’hcW j_jk_Ze Yed ,) lejei" f[he Z[ ,) WiWcXb[‡ijWi" gk[ ĹŠ L[j^em[d 9^_YW F7?I " bW YedikbjW fh[#b[]_ibWj_lW iWb_ÂŒ Wb fWie o Yec[djÂŒ gk[ fWhW [b Xbegk[ kde Z[ fWhW bW b[o Z[ W]kWi de i[W (+(" "ĹŠ"#ĹŠ bei fkdjei d[kh|b]_Yei [i l_dYkbWdj[ o bW YedjhWjW# ĹŠ/.2( "#23(34(1ĹŠ +ĹŠ/1#2(Äą [b j[cW Z[ bW Ă’iYWb_pWY_ÂŒd Y_ÂŒd WZ_Y_edWb Z[ kd Wi[# "#-3#ĹŠ"#ĹŠ+ ĹŠ +# ĹŠ!.-ĹŠ o gk[ bei `k_Y_ei i[ l[dj_# ieh jƒYd_Ye \k[hed ejhei 2 , Ä?ÄŠĹŠ5.3.2ĹŠ-.ĹŠĹŠ ÄĄ!4 )¢ĢŊ#-ĹŠ#+ĹŠ +.Äą b[d [d [b fb[de$ fkdjei febƒc_Yei$ 04#ĔŊ8ĹŠ. +(%¢Ŋ ĹŠ ÆDe i[ fk[Z[ Z[`Wh bW 4- ĹŠ1#4-(¢-ĹŠ 41%#-3#ĹŠ!.-ĹŠ+ ĹŠ # !!(.-#2ĹŠ fk[hjW WX_[hjW fWhW gk[ i[ ,(-(231 ĹŠ"#ĹŠ+ ĹŠ b[i_ed[ bW Z_]d_ZWZ Z[ bWi @_cco F_deWh]ej[ ?dZ " .+~3(! ĔŊ #338ĹŠ f[hiedWi [d XWi[ W kd `k_# Z_`e gk[ ^kXe \WbjW Z[ .+ Ä“ Yecfhec_iei [djh[ bW Y_e [d [b Fb[de" Yed i^em efei_Y_ÂŒd fWhW ieb_Y_jWh Wb _dYbk_ZeÇ" Z_`e Wb Yh_j_YWh fh[i_Z[dj[ Z[ bW 7iWcXb[W bW le# W bei Wb_WZei gk[ YWfjWhed fh[i_# jWY_ÂŒd Z[b Yk[hfe b[]Wb$ Æ7^ehW Z[dY_Wi o l_Y[fh[i_Z[dY_Wi$ gk[ j[d[cei bei ,) Yecfhec_# <[hdWdZe Lƒb[p [n FIF o iei Z[X[h‡Wcei lejWh bW b[o" Z[i# Wb_WZe eĂ’Y_Wb_ijW i[ ceijhÂŒ e\[d# fkƒi Yehh[cei [b h_[i]e Z[ gk[ Z_Ze Yed [ijW Z[YbWhWY_ÂŒd$ ÆOe [ijei i[ Z_bkoWdÇ" [nfh[iÂŒ$ dkdYW bb[]kƒ W d_d]‘d WYk[hZe" :Wbe 8kYWhWc FH; " feh ik be gk[ jkl[ \k[ i_cfWj‡W feh <[h# fWhj[" Z_`e gk[ YedjWXW Yed ,- dWdZe 9ehZ[he" oe d_ i_gk_[hW lejei _dYbk_Zei Z[ bei Wb_WZei j[d]e kd fk[ije Z[ bei '&& c_b Z[ F7?I =[hWhZe Ceh|d" L‡Yjeh gk[ j_[d[ bW WZc_d_ijhWY_ÂŒd f‘# 9[Z[‹e" >[dho 9k`_" =Wbe LWYW" Xb_YWÇ" WĂ’hcÂŒ$
^ ēŊ Ŋ+ .1Ŋ"#Ŋ .2_Ŋ #11 -.Ŋ#-Ŋ+ Ŋ ",(-(231 !(¢-Ŋ"#Ŋ)423(!( Ŋ$4#Ŋ!4#23(.- " ēŊ
,, ()Ĺ‹ #šŋ Ĺ‹ #( ),' #š(ŋð&., (+(3 1ĹŠ#-ĹŠ2#15(!(.ĹŠ/ 2(5.ĹŠ#,/+ 9 ĹŠ +ĹŠ !34 +ĹŠ (-(231.ĹŠ"#+ĹŠ -3#1(.1ĹŠ ĹŠ2.,#Äą 3#12#ĹŠ ĹŠ4-ĹŠ"#3#!3.1ĹŠ"#ĹŠ,#-3(1 2Ä“ :_[]e LWbb[`e" [nYedikbjeh Z[b <_dWdY_[he K7< " \k[ gk_[d C_d_ij[h_e Z[ @kij_Y_W" ^_pe \_bjhÂŒ bW _d\ehcWY_ÂŒd Z[ bWi f‘Xb_Yei ZeYkc[djei o ]hW# Yk[djWi XWdYWh_Wi Z[ F[i|dj[p XWY_ed[i gk[ Z[`Wd [djh[l[h bW W @eiƒ I[hhWde$ _d`[h[dY_W gk[ ^WXh‡W _dj[djWZe 7 YWcX_e Z[ [bbe" Z[cWdZÂŒ [`[hY[h @eiƒ I[hhWde [d bW WZ# kd \Wleh fWhW gk[ bei Z[lebl_[# c_d_ijhWY_ÂŒd Z[ `kij_Y_W" hWd W ik fk[ije Z[ jhW# YkWdZe iWbjWhed W bW ef_# ĹŠ XW`e" Z[ ZedZ[ iWb_ÂŒ feh kd `k_Y_e gk[ bW c_icW d_ÂŒd f‘Xb_YW ikfk[ijei WYjei Z[ YehhkfY_ÂŒd gk[ Kd_ZWZ b[ ^WX‡W _dYeWZe +#ĹŠ fh[Y_iWc[dj[ feh Ă’bjhWh _dlebkYhWhed W Zei `k[Y[i .ĹŠ$4#ĹŠ/.2( ' + 1ĹŠ!.-ĹŠ#+ĹŠ _d\ehcWY_ÂŒd$ BW Z[cWd# Z[ =kWoWgk_b o ejhWi f[h# ,(-(231.ĹŠ .2_ĹŠ iedWi feh fh[j[dZ[h Yec# #11 -.ĔŊ/.104#ĹŠ ZW \k[ Wj[dZ_ZW o FWdje# 2#%ĂŒ-ĹŠ4- ĹŠ !#1! - ĹŠ fhWh YWh]ei f‘Xb_Yei$ `W h[]h[iÂŒ W iki bWXeh[i$ !.+ .1 ".1 ĔŊ2#ĹŠ ;b c_b_jWh [d i[hl_Y_e #-!.-31 ĹŠ fWi_le" gk[ ^W fWiWZe $4#1 ĹŠ"#ĹŠ+ ĹŠ !+ 1 !(.-#2 !(4" "Ä“ feh bei c_d_ij[h_ei Z[ ;ij[ Yedikbjeh WYbWhÂŒ @kij_Y_W o Z[b ?dj[h_eh" gk[ dkdYW h[Wb_pÂŒ bW _d# feh bW I[Yh[jWh‡W DWY_edWb Z[ l[ij_]WY_ÂŒd gk[ b[ ^WX‡W f[Z_# JhWdifWh[dY_W" I[Yh[jWh‡W DW# Ze I[hhWde" f[i[ W gk[ jkle [d Y_edWb Z[ ?dj[b_][dY_W o bW H[# iki cWdei bei ZeYkc[djei Z[ Ă’d[h‡W Z[b FWY‡ÒYe" [cfbWpÂŒ W _d\ehcWY_ÂŒd Ă’dWdY_[hW Z[ F[# I[hhWde W gk[ i[ iec[jW W kd i|dj[p o ik \Wc_b_W" fehgk[ [ie Z[j[Yjeh Z[ c[dj_hWi o fhk[X[ b[ Yehh[ifedZ[ W bW <_iYWb‡W$ gk[ de \k[ ƒb gk_[d b[ [djh[]ÂŒ FWhW LWbb[`e" [b fheXb[cW Z[ bW _d\ehcWY_ÂŒd Ă’dWdY_[hW Z[b bei `k[Y[i Z[ =kWoWgk_b _cfkjW# W^ehW [nc_d_ijhe Ă’iYWb MWi# Zei feh kd ikfk[ije Ye^[Y^e" ^_d]jed F[i|dj[p o ik \Wc_b_W" fWiÂŒ Z[ i[h kd YWie `kZ_Y_Wb W fWhW gk[ be _dl[ij_]WhW$ f[hi[YkY_ÂŒd feb‡j_YW o W^‡ [i LWbb[`e Z_`e j[d[h fhk[XWi ZedZ[ Yec_[dpW jeZe" fehgk[" Z[ gk[ FWXbe FWdje`W" \kdY_e# i[]‘d Z_`e" I[hhWde e\h[Y‡W W je# dWh_e Z[ bW Kd_ZWZ Z[ 7d|b_i_i Zei" _dYbk_Ze W bei ^[hcWdei F_#
,.2Ŋ Ŋ"#2#-, 2Ĺ ! 1 1Ŋ Ŋ3.".2Ŋ+.2Ŋ +3.2Ŋ $4-!(.- 1(.2Ŋ04#Ŋ2 Ĺ ~ -Ŋ"#Ŋ#23 Ŋ1#"Ŋ"#Ŋ!.114/Ĺ !(¢-Ŋ#-Ŋ 4 8 04(+ŊŊ8Ŋ04#Ŋ-.Ŋ ' -Ŋ'#!'.Ŋ- " ĔŊ,;2Ŋ04#Ŋ 3 / 1Ŋ+ 2Ŋ"#-4-!( 2Ģē Ŋ
ĹŠ ĹŠ ĹŠ ĹŠ
^ ĹŠ 2!ĂŒ!'#+.2ĹŠ#666Ä“+ '.1 Ä“!.,Ä“#!ĹŠ
‹[_hei" gk[ de b[i _XW W Z[`Wh iebei" gk[ i_[cfh[ ^W [ijWZe f[dZ_[dj[ Z[ jeZe" f[he W^‡ [ij|d bei h[ikb# jWZei" fehgk[ Z[ _dl[ij_]WZeh[i fWiWhed W _cfkjWZei o W^ehW fhÂŒ# \k]ei Z[ bW `kij_Y_W$ I[hhWde ^WXh‡W e\h[Y_Ze W bei ^[hcWdei F_‹[_hei W de Z[`Whb[i ÆYeb]WZeiÇ fehgk[ oW j_[d[d <_i# YWb o [b 9edi[`e Z[ bW @kZ_YWjkhW" i[]‘d dWhhÂŒ LWbb[`e$ ;ĹŠ"#-4-!( 2
LWbb[`e jWcX_ƒd Z_`e j[d[h fhk[XWi Z[ bW h[Z Z[ YehhkfY_ÂŒd gk[ [n_ij[ [d bW WZc_d_ijhWY_ÂŒd Z[ `kij_Y_W" o gk[ [ij| Z_ifk[ije W Z[ijWfWh [b l[be i_ [b =eX_[hde de ^WY[ dWZW$ >WXbÂŒ gk[ [d [b fheY[ie gk[ i[ b[ l_dYkbÂŒ jeZe [b ckdZe f_Z_ÂŒ ÆfbW# jWÇ o gk[ W ƒb YedYh[jWc[dj[ kd feb_Y‡W `kZ_Y_Wb b[ ieb_Y_jÂŒ +$&&& ZÂŒbWh[i fWhW bW [bWXehWY_ÂŒd Z[ kd _d\ehc[$
( #&& , -Ĺ‹ Ĺ‹ / ),Ĺ‹3Ĺ‹ )&)' # Ĺ‹- Ĺ‹, Ă„( (Ĺ‹ (Ĺ‹ /#.) ;b YWdY_bb[h H_YWhZe FWj_‹e i[ h[kd_h| ^eo Yed ik ^ecÂŒbe]W Ye# becX_WdW CWh‡W Ă›d][bW >eb]k‡d fWhW ZWh i[]k_c_[dje W bW ‘bj_cW h[kd_ÂŒd fb[dWh_W Z[ bW 9ec_i_ÂŒd Z[ L[Y_dZWZ Y[b[XhWZW [b fWiWZe i[fj_[cXh[$ ;d bW Y_jW Z[ Gk_je i[ jhWjWh|d bei j[cWi Z[ Yeef[hWY_ÂŒd gk[ de \k[hed Z[Ă’d_Zei" oW gk[ WcXei \kdY_edWh_ei de gk[ZWhed Yed# \ehc[i Yed bW _d\ehcWY_ÂŒd gk[
fh[i[djWhed Wb]kdei Z[ bei [gk_# fei jƒYd_Yei$ FWj_‹Œ Yec[djÂŒ gk[ jhWcX_ƒd i[ jhWjWh|d j[cWi h[bWY_edWZei Yed bW Yeef[hWY_ÂŒd fWhW [b Z[iWhhebbe [d bW \hedj[hW Æj[cWi gk[ j_[d[d h[bWY_ÂŒd Yed Z[iWhhebbe ieY_Wb" WYk[hZei fWhW Wcfb_Wh [b fk[dj[ Z[ Hkc_Y^WYW" [b fheo[Yje ][e# jƒhc_Ye$ 7Z_Y_edWbc[dj[ lWcei W jhWjWh ieXh[ [b jhWdifehj[Ç$ H[YehZÂŒ gk[ ^Wo kd WYk[hZe
[djh[ jhWdifehj_ijWi fh_lWZei$ ÆLWcei W h[l_iWh gk[ [i be gk[ [bbei ^Wd WYehZWZe o Yk|b [i [b Yh_j[h_e gk[ j[d[cei Z[iZ[ [b i[Yjeh f‘Xb_Ye jWdje 9ebecX_W" Yece ;YkWZehÇ$ <_dWbc[dj[ Z_`e gk[ `kdje Yed >eb]k‡d fh[fWhWh|d [b [d# Yk[djhe Z[ bei fh[i_Z[dj[i @kWd CWdk[b IWdjei o HW\W[b 9ehh[W$ :_Y^W Y_jW i[ h[Wb_pWh| [d Gk_je" [b fhÂŒn_ce '/ Z[ Z_Y_[cXh[$
ēŊ .2Ŋ! -!(++#1#2Ŋ (! 1".Ŋ 3( .Ŋ8Ŋ 1~ Ŋ:-%#+ Ŋ .+%4~-Ŋ"(2!43(1;-Ŋ2. 1#Ŋ !4#1".2Ŋ"#Ŋ5#!(-" "ē
ƒ Ă
g Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. ÄŒĹ?
#/ Ĺ‹ &Ĺ‹ )() #'# (.)Ĺ‹ ! ( , Ĺ‹ . Ĺ‹ (Ĺ‹ , /+/v
ĹŠ5(2(3 ĹŠ"#+ĹŠ/1#2("#-3#ĹŠ $ #+ĹŠ .11# 8ĹŠ #-_ĹŠ ,~1#9ĹŠ"#ĹŠ+ ĹŠ #-#2!83ĹŠ"#)¢Ŋ 2#-3 ".ĹŠ#+ĹŠ/+ -Ä“ ied ($&&&$ Ze [ijWXb[Y_Ze [b bkd[i Yed bei b‡Z[h[i Z[ i_[j[ Yeckd_ZWZ[i ĹŠ/1./4#23 ĹŠ#-ĹŠ"#3 ++#2 fWhW _cfkbiWh bW YedijhkYY_ÂŒd ;ijW 9_kZWZ j[dZh| jh[i \ehcWi Z[ OWY^Wo Wfh[dZ[ [d a_Y^mW Z[ Z[iWhhebbe [YedÂŒc_Ye [if[# e 9_kZWZ Z[b 9edeY_c_[dje" kdW Y_Wb0 YedeY_c_[dje" be]‡ij_YW [ _d# Yec_i_ÂŒd Z[ Yeckd_ZWZ 7hcWi Zkijh_Wb$ Kd [ifWY_e gk[ j[dZh| fh_l_b[]_ei1 Yece [ned[# JebW Z[ KhYkgk‡" h[Y_X_ÂŒ hWY_ed[i jh_XkjWh_ei" _d# Wo[h Wb fh[i_Z[dj[ HW\W[b ĹŠ Y[dj_lei" [djh[ ejhei$ 9ehh[W$ ;d kd fh_c[h cec[d# ;b fbWd \k[ ieY_Wb_pWZe ZkhWdj[ bWi Zei ‘bj_cWi .2ĹŠ (#-#2ĹŠ!.-2(Äą je i[ fh[lƒ Yh[Wh .& f[# gk[‹Wi c_Yhe[cfh[iWi i[cWdWi [d JWf_WfWcXW" "#1 ".2ĹŠ/ 31(Äą ,.-( +#2ĹŠ04#ĹŠ 7hcWi JebW" BWi C[hY[# #23_-ĹŠ"#-31.ĹŠ"#+ĹŠ gk[ _dlebkYhWh|d Wb i[Yjeh$ ;djh[ ejhei fWhW i[hl_Y_e Z[i" IWd 7djed_e" IWdjW ;1# ĹŠ"#+ĹŠ !' 8ĹŠ 2#1;-ĹŠ/1.3#%(Äą Z[ Yec_ZW" ^eif[ZW`[i$ HeiW JhWdil[hiWb" IWd L_# ".2Ä“ HWc_he CedYWoe" ][# Y[dj[ o ;b Fk[dj[$ h[dj[ Z[b fbWd OWY^Wo" ;b h[ifWbZe Z[ bWi Ye# ^WXbW Z[ kd fheY[ie Z[ ckd_ZWZ[i gk[ ^WY[ kdW Yedl[hj_h W bei W]h_Ykbje# i[cWdW cWhY^Whed Yed# h[i [d _dZkijh_Wb[i o Z[ bW jhW [b fbWd i[ Z_e fehgk[ bWi Whj_YkbWY_ÂŒd Z[ bWi bbWcW# Wkjeh_ZWZ[i Z[ bW I[Yh[jWh‡W ZWi YWZ[dWi fheZkYj_lWi DWY_edWb Z[ ;ZkYWY_ÂŒd Ik# ĉćŊ ĹŠ Yecfb[c[djWh_Wi$ f[h_eh" 9_[dY_W o J[Ydebe]‡W ,(++.-#2ĹŠ#2ĹŠ#+ĹŠ @kWd 7bc[_ZW" Z_h_# I[d[iYoj i[ Yecfhec[j_[# !.23.ĹŠ"#ĹŠ+ ĹŠ!1# Äą ][dj[ Z[b XWhh_e BWi C[h# hed W de [nfhef_Wh bei X_[# !(¢-ĹŠ3.3 +ĹŠ"#ĹŠ#23 ĹŠ (4" "ēŊ Y[Z[i" Yh[[ gk[ bW ][dj[ i[ d[i YeckdWb[i$ _dYbk_h| [d fhe]hWcWi Z[ Z[iWhhebbe ieY_Wb o fbWd[i +ĹŠ/1.8#!3.ĹŠ ÄŒÄˆĹŠ Z[ _dj[hl[dY_ÂŒd fheZkYj_# FWhW Yedijhk_h bW 9_kZWZ ĹŠ"#+ĹŠ Z[b 9edeY_c_[dje i[ h[# .-.!(,(#-3.ĹŠ lW$ ;d bW jWhZ[ bb[]ÂŒ `kdje gk_[h[d *$(-& ^[Yj|h[Wi o ' 8ĹŠ#-ĹŠ#+ĹŠ,4-".Ä“ W bW Z[b[]WY_ÂŒd W IWb_dWi fWhW ^WXbWh Yed [b fh[i_# Zei W‹ei" i[]‘d YedĂ’hcÂŒ [b j_jkbWh Z[ bW I[d[iYoj" H[dƒ Z[dj[ HW\W[b 9ehh[W fWhW cei# jhWhb[ [b WYk[hZe$ HWc‡h[p$ ;d cWhpe Z[ (&'( _d_Y_Wh‡W bW BW [b[YY_ÂŒd Z[ KhYkgk‡ i[ ^_pe jhWi [ijkZ_ei Z[ ik[be" ][eceh\e# _dijWbWY_ÂŒd Z[b OWY^Wo" 9_kZWZ bÂŒ]_Yei" YWhje]h|Ă’Yei [ ^_ZhebÂŒ# Z[b 9edeY_c_[dje$ Kd Yeije Z[ ]_Yei$ ;d [b fheY[ie i[ f[diÂŒ [d +& c_bbed[i [d bW fh_c[hW [jWfW$ ejhei j[hh_jeh_ei Yece 9k[dYW" #,.1#2 Gk[l[Ze o CWY^WY^_$ HWc‡h[p ^WXbW Z[b OWY^Wo 7dj[i Z[ bb[]Wh Wb WYk[hZe" ce# Yece kd Ybkij[h Yed`kdje Z[ hWZeh[i Yece OebWdZW Ceh_bbe YedeY_c_[djei$ Kd |h[W gk[ o <WX_|d 9koWd]e" [nfh[iWhed YedY[djhWh| W '. _dij_jkjei Z[ _d# [b j[ceh gk[ iki j_[hhWi de i[Wd l[ij_]WY_ÂŒd" [cfh[iWi fh_lWZWi" YecfhWZWi feh [b =eX_[hde W kd Y[djhei Z[ _dl[ij_]WY_ÂŒd o kdW lWbeh h[Wb$ Ceh_bbe Wi[]khÂŒ gk[ bWi j_[# kd_l[hi_ZWZ [nf[h_c[djWb$ ;ZkWhZe HeZh‡]k[p" l_Y[c_# hhWi [ij|d WlWbkWZWi feh . c_b d_ijhe Z[ bW I[d[iYoj" ^WXbW Z[ ZÂŒbWh[i YWZW kdW" YkWdZe [b Yei# bW d[Y[i_ZWZ Z[b Z[iWhhebbe Z[b je h[Wb [i Z[ (& c_b ZÂŒbWh[i$ Bei YedeY_c_[dje$ :W kdW ck[ijhW" fhef_[jWh_ei j_[d[d kd fbWpe Z[ [d (&&, ^kXe ,&& _dl[ij_]W# /& Z‡Wi W fWhj_h Z[ bW dej_Ă’YWY_ÂŒd Zeh[i Yed ]hWZe Z[ F>: ^eo fWhW bb[]Wh W kd WYk[hZe Yed ?d#
}ēěŊFWhW hWj_ÒYWh [b WYk[h#
Ä’ Z,'#()Ĺ‹ ýúĚ Ĺ‹()Ĺ‹ Ĺ‹ * . (. ,- Ä“ BW _dj[dY_ÂŒd gk[ j_[d[ [b =eX_[h# de Z[ fWj[djWh [b jƒhc_de )&#I [d [b ?dij_jkje ;YkWjeh_Wde Z[ Fhef_[ZWZ ?dj[b[YjkWb [i Yk[i# j_edWZW feh [b Xbe]k[he ;ZkWh# Ze 7hYei$ ;b Z‡W gk[ eYkhh_ÂŒ bW ikXb[lW# Y_ÂŒd feb_Y_Wb" 7hYei [nfkie [d ik Yk[djW Jm_jj[h 6[WhYei0 Fhe#
fed]e )&I Yece ^Wi^jW] Yehje fWhW _Z[dj_Ă’YWh be gk[ fWiW [d [YkWZehÇ$ ;d ik Yk[djW Z[ jm_jj[h o [d ik Xbe]" [b \kdZWZeh Z[ ^_f[hj[njkWb$Yec" Wi[]khW gk[ [i[ jƒhc_de de Z[X[ h[]_ijhWhi[ e fWj[djWhi[ fehgk[ b[ f[hj[d[Y[ W bei Y_kZWZWdei o fehgk[ i[ fe# Zh‡W Wj[djWh W bW b_X[hjWZ Z[ [nfh[i_ÂŒd$ Æ9h[e gk[ dWZ_[ d_ oe feh ^WX[hbe fhefk[ije [b )& Z[ i[fj_[cXh[" Z[X[h‡W h[]_ijhWhbe$ De b[ f[hj[d[Y[ W dWZ_[ o feh be jWdje b[ f[hj[# d[Y[ W jeZeiÇ$
ēŊ #/1#2#-3 -3#2ĹŠ"#+ĹŠ . (#1-.ĹŠ"#23 ! 1.-ĹŠ2+.ĹŠ #-#ă!(.2ĹŠ"#+ĹŠ/1.8#!3.ēŊ
#3 ++#2
ĹŠĹŠ9.-
ĹŠ 1!404~ĹŠ3(#-#ĹŠÄˆÄŒĹŠ,(+ĹŠ' (3 -3#2ĹŠ8ĹŠ4- ĹŠ Ĺ—24/#1ă!(#ĹŠ"#ĹŠÄ?Ä?Ä?ĹŠ*(+¢,#31.2ĹŠ!4 "1 ".2ēŊ 2ĹŠ!.-.!(".ĹŠ!.,.ĹŠ#+ĹŠÄĽ 1 -#1.ĹŠ"#ĹŠ , Äą Ĺ—ĹŠ41 ÄŚĹŠ!.-ĹŠÄ?ćŊ,(+ĹŠ3.-#+ " 2ĹŠ"#ĹŠ/1."4!3.2ĹŠ %1~!.+ 2ĹŠ04#ĹŠ2 +#-ĹŠ +ĹŠ,#1! ".ĹŠ! " ĹŠ  .Ä“
ceX_b_Wh$ <WX_|d 9koWd]e" fh[i_Z[dj[ Z[b XWhh_e IWd 7djed_e" feh ik fWhj[ Yec[djŒ gk[ bW YedijhkY# Y_Œd Z[ OWY^Wo de ]WhWdj_pWXW [b h[if[je Z[ bWi Yeckd_ZWZ[i$ -3#!#"#-3#2
>WY[ feYei Z‡Wi" :Wd_[b Ik|h[p" [nikXi[Yh[jWh_e Z[ FbWd_Ă’YWY_ÂŒd o :[iWhhebbe" PedWb ' Dehj[" Z[jW# bbÂŒ gk[ [n_ij[d -& c_bbed[i fWhW fW]Wh _dZ[cd_pWY_ed[i o Wi[]k# hÂŒ gk[ [b fheXb[cW hWZ_YW [d gk[ bei j[hh[dei de j_[d[d kd WlWb‘e YWjWijhWb WYjkWb be gk[ W\[YjWh‡W Wb cec[dje Z[ bW d[]eY_WY_ÂŒd$ 9ed [b \_d Z[ h[YbWcWh kd fh[Y_e `kije feh iki j_[hhWi kd Y[dj[dWh Z[ Yeckd[hei Z[ IWd
1."4!!(¢-Ŋ
,/1#2 2ĹŠ04#ĹŠ' 8ĹŠ#-ĹŠ+ ĹŠ9.-
ĹŠ -!#,ĹŠ ĹŠ
1."4!!(¢-ĹŠ -4 +ĹŠĹŠ Ä?ććŊ,(+ĹŠ2 !.2ĹŠ"#ĹŠ 9ĂŒ! 1ĹŠ ĈÄ?ĹŠ,(++.-#2ĹŠ"#ĹŠ*(+.2ĹŠ"#ĹŠ,#+ 9 ĹŠ
+.1#2ĹŠ"#ĹŠĹŠĹŠ , 9.- 2ĹŠ Ä“ ĹŠĹŠ ÄˆÄ‡ĹŠ,(++.-#2ĹŠÄŠÄ’Ä?ĹŠ,(+ĹŠ3 ++.2ĹŠĹŠ -3#%1 !(¢-ĹŠ 5~!.+ ĹŠ 1.ĹŠĹŠ ŊĒććŊ,(+ĹŠ/.++.2ĹŠĹŠĹŠ
7djed_e" IWd L_Y[dj[" ;b Fk[dj[" JWf_WcfWcXW" bb[]Whed [d Z‡Wi fWiWZei ^WY_W [b Y[djhe Z[ ?XW# hhW" bk]Wh ZedZ[ i[ fheZk`[hed lWh_ei Wbj[hYWZei [djh[ ^WX_jWd# j[i o \kdY_edWh_ei Z[ I[dfbWZ[i [ ?dceX_b_Wh$ ,/+(! !(.-#2Ŋ
:[ WYk[hZe Yed kd [ijkZ_e fh_# lWZe" bW [nfhef_WY_Œd Z[ *$ (&& ^[Yj|h[Wi ^W " WYjkWbc[dj[ Z[# Z_YWZWi W bW fheZkYY_Œd W]h‡YebW# ]WdWZ[hW" j[dZh| Yedi[Yk[dY_Wi d[]Wj_lWi fWhW bW fheZkYY_Œd W]hef[YkWh_W Z[b |h[W$ I[ [ij_cW gk[ i[h|d W\[YjW# ZWi0 '$(&& ^W Z[ YW‹W Z[ Wp‘YWh
#-#1 !(¢-ĹŠ"#ĹŠ#,/+#. ÄˆÄ“Ä‡Ä‡Ä‡ĹŠ/#12.- 2ĹŠ"(1#!3. ÄŒÄ“Ä‡Ä‡Ä‡ĹŠ/#12.- 2ĹŠ(-"(1#!3. ÄˆÄ‡Ä‡ĹŠĹŠ/#12.- 2ĹŠ ĎćŊ/#12.- 2Ä“
Z[ij_dWZWi Wb ?d][d_e 7pkYWh[# he Z[ [Yedec‡W c_njW ?WdY[c -&& ^W Z[ Wb\Wb\W o ejhei fWij_# pWb[i gk[ ikij[djWd bW Wb_c[d# jWY_ÂŒd Z[b ]WdWZe lWYkde" Yed kdW fheZkYY_ÂŒd Z[ '&$&&& b_jhei Z_Wh_ei Z[ b[Y^[ Z[ij_dWZei W bWi [cfh[iWi <behWb o D[ijbƒ1 '& ^W Z[ ]Wbfed[i Z[b fbWdj[b Wl‡YebW Z[b ]hkfe Ehe I$7$ gk[ fheZkY[ /&& c_b febbei Wb W‹e 1 bW [cfh[# iW Ă“eh‡YebW <beh[i Z[b 7cWpedWi I$7$ Yed '& ^W Z[ij_dWZWi W bW fheZkYY_ÂŒd Z[ '& c_bbed[i Z[ jWbbei feh W‹e1 W be gk[ i[ ikcWd Ykbj_lei Z[ Y[h[Wb[i" b[]kcXh[i" ^ehjWb_pWi o kdW Wcfb_W lWh_[ZWZ Z[ Y‡jh_Yei$
Ĺ‹#(# # .#0 Ĺ‹ -/(vĹ‹- ,6Ĺ‹ 0 &/ JhWi ZWh kd _d\ehc[ ieXh[ bW 9kcXh[ Z[ 9WcX_e 9b_c|j_Ye h[Wb_pWZW [d IkZ|\h_YW o ceijhWh ik fh[eYkfWY_ÂŒd feh [b [iYWie d_# l[b Z[ Yecfhec_ie Z[ bei fW‡i[i Z[iWhhebbWZei" [b YWdY_bb[h H_YWh# Ze FWj_‹e _dZ_YÂŒ gk[ kde Z[ bei feYei h[ikbjWZei Wb[djWZeh[i \k[ [b Wfeoe Z[ bei '/* fWhj_Y_fWdj[i Z[ bW h[kd_ÂŒd W bW ?d_Y_Wj_lW OW# ikd‡ ?JJ$ ;d YecfW‹‡W Z[ bW c_d_ijhW 9eehZ_dWZehW Z[ FWjh_ced_e" CWh‡W <[hdWdZW ;if_deiW" [b
9WdY_bb[h Z[ijWYÂŒ [b dk[le Wfeh# j[ Z[ ' c_bbÂŒd (&& c_b [khei feh fWhj[ Z[ 8ƒb]_YW$ I_d [cXWh]e de i[ fhedkdY_ÂŒ i_ Yed bW h[YWkZW# Y_ÂŒd Z[ bei '&& c_bbed[i gk[" i[# ]‘d bW `[\W d[]eY_WZehW Z[ bW _d_# Y_Wj_lW OWikd‡ ?JJ" ?led[ 8Wa_" oW i[ be]hÂŒ h[kd_h" [b f[jhÂŒb[e Z[ [iW pedW i[ gk[ZWh| XW`e j_[hhW$ ÆDe fk[Ze Z[Y_h i_ oW de Wfb_# YWh| [b FbWd 8 fehgk[ Wdj[i [b Fh[i_Z[dj[ Z[ bW H[f‘Xb_YW HW# \W[b 9ehh[W Z[X[h| ^WY[h kdW [lWbkWY_ÂŒd o bW `[\W d[]eY_WZehW
Z[X[h| [djh[]Whb[ kd _d\ehc[ Z[jWbbWZe Z[ be h[YWkZWZe$ J[d# Zh[cei kdW h[kd_ÂŒd Yed`kdjW fWhW bW [lWbkWY_ÂŒdÇ" _dZ_YÂŒ$ 7 f[iWh Z[ gk[ 8Wa_ Wi[]khW gk[ bei '&& c_bbed[i oW \k[hed h[YWkZWZei [d bW f|]_dW m[X Z[b \_Z[_Yec_ie gk[ WZc_d_i# jhW [b FDK: ^jjf0%%cZj\$kdZf$ eh]%oWikd_%[i [b lWbeh h[Wb Yed [b gk[ Yk[djW bW _d_Y_Wj_lW Z[ [d[# he Z[ (&'' W Z_Y_[cXh[ Z[ (&'' [i Z[ Wf[dWi ( c_bbed[i *.- c_b (/' ZÂŒbWh[i$
231 3#%( ĹŠ!.-31 ĹŠ1 ( ĹŠ'4, -
, ŋ ( , (. ,ŋ &ŋ ,). ŋ ŋ, # ŋ"/' ( ŋ, !#-., )ŋ (ŋ& -ŋ )'/(#Ě -ŋ ŋ '*/#%ąŋ ,#'# .ŋ3ŋ -/,#%ŋ / 0)ąŋ (ŋ ),)( ŋ (.# !)ąŋ &ŋ #(#-. ,#)ŋ ŋ &/ ŋ#'*& ' (.šŋ/( ŋ -., . !# ŋ ŋ )'/(# Ě #š(ŋ )(ŋ' (- $ -ŋ (ŋ -. && ()ąŋ-"/ ,ŋ3ŋ "/ ,Ąŋ
-ŋ, )' ( #)( -ŋ -.6(ŋ (ŋ666ē+ '.1 ē!.,ē#!ŋ
ŊŊŊ /.8.Ŋ +Ŋ + -Ŋ #!#- +Ŋ"#Ŋ "4! !(¢-
+ĹŠ/1.%1 , ĹŠ"#ĹŠ /.8.ĹŠ +ĹŠ + -ĹŠ #!#- +ĹŠ"#ĹŠ "4! !(¢-ŊĉććÄ?ÄąĹŠÄ‰Ä‡ÄˆÄŽĹŠ2#1;ĹŠ /1#2#-3 ".ĹŠ'.8ĹŠ/.1ĹŠ1#/1#2#-3 -3#2ĹŠ"#ĹŠ+ ĹŠ -(¢-ĹŠ 41./# ĹŠ8ĹŠ#+ĹŠ (-(23#1(.ĹŠ"#ĹŠ "4! !(¢-ēŊ +ĹŠ !3.ĹŠ2#ĹŠ1# +(9 1;ĹŠ ĹŠ+ 2ĹŠÄˆÄ?ĖĊćŊ#-ĹŠ+ ĹŠ% +#1~ ĹŠ"#ĹŠ 13#ĹŠ,42#.ĹŠ (-" + #ĔŊ4 (! " ĹŠ #-ĹŠ+ ĹŠ #(- ĹŠ (!3.1~ ĹŠ8ĹŠ ĹŠ ( ĔŊ +ĹŠ-.13#ĹŠ"#ĹŠ 4(3.Ä“
ēŊ -ĹŠÄˆÄŒĹŠ  .2ĹŠ' -ĹŠ#7/+.3 ".ĹŠÄŠĹŠ/.+5.1(-#2ĹŠ#-ĹŠ9.- 2ĹŠ41 - 2ēŊ -ĹŠÄˆÄ’Ä’Ä?ĹŠ#-ĹŠ ĹŠ +5(- Ŋĸ -%.+04~ĚĔŊ#-ŊĉććĉŊ#-ĹŠ+ ĹŠ 1(% " ĹŠ +(-" " ĹŠ +;/ %.2ĹŠ"#ĹŠ (. , ĹŠ8ĹŠ+ ĹŠ2#, - ĹŠ -3#1(.1ĹŠ#-ĹŠ 42404~Ä“
ĂźĂźÄƒĹ‹'/(# #*#)-Ĺ‹-#(Ĺ‹ *& ( -Ĺ‹* , Ĺ‹ - -., 43.1(" "#2ĹŠ"#ĹŠ%#23(¢-ĹŠ"#ĹŠ1(#2%.ĹŠ#7Äą '.13 -ĹŠ ĹŠ%. (#1-.2ĹŠ+.! +#2ĹŠ ĹŠ !34 +(9 1ĹŠ 242ĹŠ/.+~3(! 2ĹŠ"#ĹŠ/1#5#-!(¢-Ä“ BW YWfWY_ZWZ Z[ h[WYY_ÂŒd Z[ bei ckd_Y_f_ei Wdj[ Wc[dWpWi Yece [nfbei_ed[i" _dY[dZ_ei" ]hWdZ[i WYY_Z[dj[i Z[ jh|di_je o YebWfie _d\hW[ijhkYjkhWi [i c‡d_cW$ ;ije ^W i_Ze [l_Z[dj[ [d bei ‘bj_cei '* W‹ei [d gk[ ^Wd [n# fbejWZe jh[i febleh_d[i [d pedWi khXWdWi$ ;b . Z[ `kb_e Z[ '//- [d BW 8Wbl_dW IWd]ebgk‡ " feh [`[cfbe" [b [ijWbb_Ze Z[`ÂŒ jh[i \Wbb[Y_Zei o '/& ^[h_Zei$ Bk[# ]e" [b (& Z[ del_[cXh[ Z[ (&&( bW Z[jedWY_ÂŒd h[]_ijhWZW [d bW Xh_]WZW Xb_dZWZW =Wb|fW]ei Z[ H_eXWcXW Z[`ÂŒ i_[j[ ck[hjei o YkWdj_eiWi fƒhZ_ZWi$ <_dWbc[d# j[" bW i[cWdW Wdj[h_eh [d Fkik# gk‡" bW [nfbei_ÂŒd gk[ ^kXe [d bWi XeZ[]Wi Z[ ckd_Y_ed[i Z[b =hkfe Z[ ?dj[hl[dY_ÂŒd o H[iYW# j[ =?H Z[`ÂŒ c|i Z[ '&& ^[h_Zei b[l[i o '* Z[ Yedi_Z[hWY_ÂŒd$ 7 [ije i[ ikcW gk[ Z[ bei (*& ckd_Y_f_ei Z[b fW‡i Wf[dWi '' i[ ^Wd Yecfhec[j_Ze [d [b jhWdi# Ykhie Z[ [ij[ W‹e Yed bW I[Yh[jWh‡W DWY_edWb Z[ =[ij_ÂŒd Z[ H_[i]ei ID=H W ][ij_edWh fheY[Z_c_[d# jei Z[ h[ifk[ijWi W [c[h][dY_Wi o WZc_d_ijhWY_ÂŒd Z[ Yh_i_i e [c[h# ][dY_Wi Yece bW ikiY_jWZW [d Gk_je$ Ejhei '+ ckd_Y_f_ei be ^W# h|d [b fhÂŒn_ce W‹e o [b h[ije Z[ ]eX_[hdei beYWb[i [d kd fbW# pe Z[ Y_dYe W‹ei$ BWi Y_\hWi Z[ [ij[ Z_W]dÂŒij_Ye bWi fh[i[djÂŒ [b :_h[Yjeh Z[ Ef[hWY_ed[i Z[ H[ifk[ijW Z[ bW ID=H" IWdj_W]e JWhWfk[p" bk[]e Z[ Y_dYe Z‡Wi Z[ bW h[Y_[dj[ [nfbei_ÂŒd Z[ kd feb# leh‡d feb_Y_Wb [d Fkikgk‡" [d [b deheYY_Z[dj[ Z[ Gk_je$ Æ7‘d de
(23
4-(!(/(.2ĹŠ/1#/ 1 ".2
Ĺ—ĹŠ 4 8 04(+ Ĺ—ĹŠ 4#-! Ĺ—ĹŠ 4(3. 3. Ĺ—ĹŠ , 11 Ĺ—ĹŠ 3 !4-% Ĺ—ĹŠ '.8. Ĺ—ĹŠ !' + Ĺ—ĹŠ -3 ĹŠ 149Ŋĸ +;/ %.2Äš Ĺ—ĹŠ 2 #+ Ŋĸ +;/ %.2Äš Ĺ—ĹŠ -ĹŠ 1(23¢ +Ŋĸ +;/ %.2Äš Ĺ— Wb '&& " f[he bei Ckd_Y_f_ei i‡ [ij|d _dj[h[iWZei o Z[iWhhebbWd# Ze [ijW j[c|j_YWÇ" W]h[]ÂŒ [b Z_# h[Yjeh JWhWfk[p$ +ĹŠ2(23#,
;d bW fh|Yj_YW" [ijei fheY[Z_# c_[djei i[ _diYh_X[d [d kd Z[# dec_dWZe I_ij[cW Z[ 9ecWd# Ze Z[ ?dY_Z[dj[i" gk[ fh[lƒ bW YeehZ_dWY_Œd o WZc_d_ijhWY_Œd Z[ h[Ykhiei Z[ Z_\[h[dj[i _dij_# jkY_ed[i f‘Xb_YWi fWhW [d\h[djWh YkWbgk_[h j_fe [c[h][dY_Wi$ ;d Gk_je" feh [`[cfbe" fWhW bWi '&0&& Z[ [ij[ `k[l[i bW I[Yh[# jWh‡W Z[ =[ij_Œd Z[ H_[i]ei Z[b Ckd_Y_f_e ^W YedleYWZe W kdW h[kd_Œd Z[ jhWXW`e W bWi [dj_ZW# Z[i Z[ ieYehhe" Z[ fh[l[dY_Œd o Z[ bW \k[hpW f‘Xb_YW fWhW WdWb_# pWh be WYjkWZe o be gk[ Z[X[ Ye# hh[]_hi[ Wdj[ [c[h][dY_Wi Yece bW eYkhh_ZW [d Fkikgk‡$ 7 bW [if[hW Z[ [ijW Y_jW" [b Z_h[Yjeh Z[ Yeckd_YWY_Œd ie# Y_Wb Z[b 9k[hfe Z[ 8ecX[hei" EimWbZe CeheY^e" [nfb_YŒ gk[
(Ŋ./(-(¢-Ŋ
4 -ĹŠ _-"#9
ĹŠ .-24+3.1ĹŠ(-3#1- !(.- +ĹŠ"#ĹŠ2#%41(" "
/'*&#'# (.)Ĺ‹ Ĺ‹& -Ĺ‹(),' ĹŠĹŠ .ĹŠ/4#".ĹŠ"#!(1ĹŠ2(ĹŠ#+ĹŠ/4# +.ĹŠ Ĺ—#!4 3.1( -.ĹŠ/4#"#ĹŠ.ĹŠ-.ĹŠ/4#"#ĹŠ
#23 1Ŋ31 -04(+.Ŋ2. 1#Ŋ#+Ŋ, -#).Ŋ "#Ŋ+.2Ŋ/.+5.1(-#2ēŊ .Ŋ04#Ŋ2~Ŋ+#Ŋ /4#".Ŋ 2#%41 1Ŋ#2Ŋ04#Ŋ+ 2Ŋ 43.Ĺ 1(" "#2Ŋ"# #-Ŋ5(%(+ 1Ŋ4-Ŋ#231(!3.Ŋ !4,/+(,(#-3.Ŋ"#Ŋ+ 2Ŋ-.1, 2Ŋ8Ŋ /1.!#"(,(#-3.2Ŋ/ 1 Ŋ+ Ŋ ",(-(2Ĺ 31 !(¢-Ŋ"#Ŋ#23 2Ŋ(-23 + !(.-#2ĔŊ 3 +Ŋ!.,.Ŋ+.Ŋ"#3#1,(- Ŋ+ Ŋ #8Ŋ"#Ŋ #-#-!( Ŋ"#Ŋ 1, 2ē
(%(+.ĹŠ8ĹŠ #231 3#%( Ĺ—ĹŠĹŠ #2/.-2 +#2ĹŠ"#ĹŠ!.,4-(! !(¢-ĹŠ 2.!( +ĹŠ"#ĹŠ+ 2ĹŠ31#2ĹŠ1 , 2ĹŠ"#ĹŠ+ 2ĹŠ Ä“ ēŊ 8ĹŠ"#+ĹŠ ., -".ĹŠ .-)4-3.ĹŠ"#ĹŠ+ 2ĹŠ Ä“ ēŊ!.-ă1, 1.-ĹŠ04#ĹŠ#+ĹŠ-ĂŒ,#1.ĹŠ 8ĹŠ4 (! !(¢-ĹŠ"#ĹŠ+.2ĹŠ/.+5.1(-#2ĹŠ#2ĹŠ4-.ĹŠ "#ĹŠ+.2ĹŠ2#!1#3.2ĹŠ"#ĹŠ 23 ".ĹŠ,#).1ĹŠ %4 1" ".2Ä–ĹŠ 231 3#%( ĹŠ"#ĹŠ+ ĹŠ 4#19 ĹŠ ĂŒ +(! ĹŠ8ĹŠ #%41(" "ĹŠ !(.- +ēŊ .1ĹŠ '.1 ĔŊ#+ĹŠ/ ~2ĹŠĂŒ-(! ,#-3#ĹŠ!4#-3 ĹŠ+ ĹŠ 5#12(¢-ĹŠ.$(!( +ĹŠ"#+ĹŠ,(-(231.ĹŠ"#+ĹŠ -3#1(.1ĔŊ
.2_ĹŠ #11 -.ĔŊ"#ĹŠ04#ĹŠ#-ĹŠ;1# 2ĹŠ41 - 2ĹŠ #7(23#-ĹŠĂŒ-(! ,#-3#ĹŠ".2ĹŠ/.+5.1(-#2ĹŠ 4-.ĹŠ#-ĹŠ 4(3.ĔŊ04#ĹŠ#7/+.3¢Ŋ+ ĹŠ2#, - ĹŠ -3#1(.1ĹŠ8ĹŠ.31.ĹŠ#-ĹŠ 4 8 04(+ĔŊ , .2ĹŠ #-ĹŠ/1.!#2.ĹŠ"#ĹŠ31 2+ ".Ä“
ÆbW I[Yh[jWh‡W Z[ I[]kh_ZWZ [ij| eh]Wd_pWdZe [ijei [l[djei fWhW dehcWh [ijW i_jkWY_ÂŒd de iebW# c[dj[ W d_l[b Z[ Feb_Y‡W" i_de jWcX_ƒd Yed bW 8h_]WZW I^oh_iÇ$
ƒ g Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. ÄŒĹ?
ă
ēŊ +ĹŠ$4341.ĹŠ"#ĹŠ/#12.- 2ĹŠ!.-ĹŠĹŠ, +#2ĹŠ! 3 231Â˘Äƒ!.2ĹŠ2#ĹŠ"# 3#ĹŠ#-ĹŠ+ ĹŠ 2 , +# Ä“
.)Ĺ‹ &Ĺ‹ $ /.#0)Ĺ‹ . ŋŋ Ĺ‹ ( ,' -Ĺ‹"/Z, ( -Ĺ‹ ;b l[je fWhY_Wb Z[b fh[i_# XkiYW [b Wfeoe Z[ .) WiWcXb[‡i# Z[dj[ HW\W[b 9ehh[W Wb fhe# jWi fWhW hWj_Ă’YWhi[ [d [b j[nje o[Yje Z[ B[o Eh]|d_YW Z[ eh_]_dWb" Z[\[dZ_ÂŒ bW j[i_i Z[ gk[ IWbkZ gk[ _dYbko[ [b jhWjW# [b ;ijWZe Z[X[ Æ]WhWdj_pWhÇ bW c_[dje Z[ bWi [d\[hc[ZWZ[i fhel_i_ÂŒd ikĂ’Y_[dj[ o d[Y[iWh_W YWjWijhÂŒĂ’YWi de Yedl[dY_ÂŒ Z[ c[Z_YWc[djei fWhW Wj[dZ[h W kd i[Yjeh Z[ bei Wb_WZei [d [ij[ j_fe Z[ fWjebe]‡Wi" o YWb_Ă’YÂŒ bW 7iWcXb[W o Z[iZ[ oW ieb_# Wb l[je Yece Æ_d`kije [ _dYedij_# Y_jWhed Wb fb[de hWj_Ă’YWhi[ jkY_edWbÇ$ ÆBW WĂ’hcWY_ÂŒd Z[b fh[i_Z[d# [d [b j[nje eh_]_dWb gk[ \k[ WfheXWZe [d [b b[]_ibWj_le" j[ HW\W[b 9ehh[W de j_[d[ bÂŒ]_YW YkWdZe i[‹WbW gk[ [b ;ijWZe de [d del_[cXh[$ feZh‡W Z[ij_dWh kd c_bbÂŒd BW [nieY_WbYh_i# Z[ ZÂŒbWh[i fWhW Wj[dZ[h W j_WdW I^[hpdWhZW ĹŠ kd WdY_Wde Z[ /& W‹ei" <[hd|dZ[p Wb_WZW W YkWdZe [ijei h[Ykhiei F7?I Yh_j_YÂŒ bW ik][# feZh‡Wd _h Z_h_]_Zei W iWb# h[dY_W fbWdj[WZW feh ĹŠ/1./4#23 ĹŠĹŠ 2#1;ĹŠ31 ,(3 " ĹŠ lWh bW l_ZW Z[ d_‹eiÇ$ [b ;`[Ykj_le [d jehde #23#ĹŠ)4#5#2Ä“ EjhW Z[ bWi eXi[hlW# W gk[ [b ;ijWZe Æfhe# Y_ed[i fbWdj[WZWi [d [b YkhWh|Ç _cfb[c[d# jWh bWi c[Z_ZWi d[Y[iWh_Wi l[je i[ h[Ă’[h[d W bW ikij_jkY_ÂŒd gk[ \WY_b_j[d o f[hc_jWd bW Z[b i_ij[cW Z[ H[]_ijhe Z[ ?d# WZgk_i_Y_ÂŒd Z[ c[Z_YWc[d# \ehcWY_ÂŒd Z[ FWY_[dj[i feh [b jei [ _dikcei [if[Y_Wb[i fWhW i_ij[cW Z[ l_]_bWdY_W [f_Z[c_e# [b Yk_ZWZe Z[ [d\[hc[ZWZ[i bÂŒ]_YW o fhefed[ YedjhebWh gk[ Yedi_Z[hWZWi hWhWi e ^kƒh\W# bei fh[ijWZeh[i Z[ i[hl_Y_ei Z[ dWi [d \ehcW efehjkdW" f[h# iWbkZ cWdj[d]Wd bW X‘igk[ZW Z[ YWiei h[bWY_edWZei Yed [ij[ cWd[dj[ o ]hWjk_jW$ F[he <[hd|dZ[p" gk_[d j_fe Z[ fWjebe]‡Wi$
)&# v Ĺ‹, - . Ĺ‹ Ĺ‹ (#˜ Ĺ‹- / -., ěŊ BW [n_jeiW b_X[#
hWY_ÂŒd Z[ bW d_‹W ;Z_j^ D$ decXh[ fhej[]_Ze " Z[ - W‹ei" gk_[d [b fWiWZe (+ Z[ del_[cXh[ \k[ i[Yk[ijhWZW Z[ bW Y_kZWZ[bW BW <beh[ijW" Wb ikh Z[ =kWoWgk_b j[hc_# dÂŒ Yed bW YWfjkhW Z[ =[dW# he CWhj‡d[p LWbl[hZ[" @eh][ LWYW 9ehh[W o 9^h_ij_Wd :[b# ]WZe Ckh_bbe$ ;b W][dj[ Ă’i# YWb M_bb_Wc 7]k_bWh ehZ[dÂŒ bW h[Ybki_ÂŒd Z[ bei ikfk[ijei Wdj_ieY_Wb[i feh j[d[dY_W _b[]Wb Z[ WhcWi o feh [ijWh _dlebkYhWZei [d [b i[Yk[ijhe Z[ bW c[deh$
BW bWXeh Z[ h[iYWj[ i[ h[Wb_pÂŒ bW deY^[ Z[b bkd[i" [d kd _d# ck[Xb[ kX_YWZe [djh[ bWi YWbb[i 7i_iYbe =WhWo o >kWdYWl_bYW" [d kdW pedW cWh]_dWb$ ;d bW WYY_ÂŒd fWhj_Y_fWhed c_[cXhei Z[b =hkfe Z[ ?dj[hl[dY_ÂŒd o H[iYWj[ =?H o Z[ bW Kd_ZWZ 7dj_i[Yk[ijhei o ;njehi_ÂŒd KdWi[ $ ;b W][dj[ \_iYWb <hWdY_iYe 9WcfeZÂŒd_Ye" i_d [cXWh]e" Z[# dkdY_ÂŒ gk[ Æi[ Ă’bjhWhed _d\eh# cWY_ed[i YkWdZe [ij|XWcei [d bei ef[hWj_lei o bei Wkjeh[i _dj[# b[YjkWb[i i[ dei [iYWfWhed" f[he bei lWcei W Ye][hÇ$
Ä…
g Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. ÄŒĹ?
( /-.,# & -ŋ *, 0Z(ŋ/(ŋ ßúÝßŋ ŋ! -.)ŋ *Ä &# )ŋ ŊŊ š BW 9|cWhW Z[ ?d#
Zkijh_Wi Z[ =kWoWgk_b i[‹WbÂŒ jh[i fkdjei gk[ j[dZh|d cWh# YWZW _dĂ“k[dY_W [d bW [Yedec‡W Z[b fW‡i [d [b fh_c[h i[c[ijh[ Z[ (&'(0 [djehde _dĂ“WY_edWh_e" [ij_ckbWZe feh bei [\[Yjei Z[ bW h[\ehcW jh_XkjWh_W1 cWd[`e Z[b ]Wije f‘Xb_Ye o [b Wbje Zƒ\_Y_j fh[ikfk[ijWh_e$ 7o[h" [b ]h[c_e fh[i[djÂŒ kd [ijkZ_e Z[dec_dWZe ;nf[YjW#
j_lWi Z[ bW ;Yedec‡W fWhW (&'( o ik i_jkWY_Œd Wb Y_[hh[ Z[ (&''$ ;dh_gk[ CWY‡Wi" [nf[hje Z[ bW 9|cWhW" c[dY_edŒ gk[ bW fe# b‡j_YW Z[b fhŒn_ce W‹e XkiYW h[ifedZ[h W bW Yedieb_ZWY_Œd Z[ Yecfhec_iei h[bWY_edWZei Yed [b fheY[ie [b[YjehWb$ CWY‡Wi ^WXbŒ Z[ Yedi[Yk[d# Y_Wi d[]Wj_lWi feh de d[]eY_Wh jhWjWZei Z[ b_Xh[ Yec[hY_e Yed bW Kd_Œd ;khef[W o [b ^[Y^e Z[ i[h `kdje Yed L[d[pk[bW o 8eb_# l_W" bei fW‡i[i gk[ de j_[d[d WY# Y[ie W WYk[hZei Yec[hY_Wb[i Yed ;;$KK$ 7i[]khŒ gk[ [b ]Wije f‘Xb_Ye Yedj_dkWh| _cfkbiWdZe [b Yh[Y_# c_[dje [YedŒc_Ye Z[ (&'($ ;ije" fehgk[ bW f[hif[Yj_lW _dZ_YW gk[ i[ cWdj[dZh| bW fheZkYY_Œd f[# jheb[hW o bei Wbjei fh[Y_ei$ ;b F?8 Yh[Y[h| +$)+ " Z[ WYk[hZe Wb 8WdYe 9[djhWb" gk[ [ij_cW gk[ i[h| c[deh [d h[bW# Y_Œd W (&''" gk[ i[ kX_YŒ [d [b ,$+ $ BW 9ec_i_Œd ;YedŒc_YW fWhW 7cƒh_YW BWj_dW o [b 9Wh_X[" [d YWcX_e" [ij_cW kd Yh[Y_c_[d# je Z[b F?8 Z[b * " c_[djhWi [b fhedŒij_Ye Z[b <C? [i Z[ )$. $
)-Ĺ‹., $ ), -ŋŋ +/# , (ŋŋÝßÿŋ š& , -Ĺ‹ '6-Ĺ‹ (Ĺ‹ &Ĺ‹- & ,#)Ĺ‹ ;d [ij[ c[i i[ j_[d[ gk[ Z[Ă’# Z[Ă’d_Ze" iÂŒbe i[ YedeY[d bWi d_h [b IWbWh_e 8|i_Ye Kd_Ă’YWZe fhefk[ijWi Z[ bWZe o bWZe I8K fWhW (&'($ BW fhefk[i# Z[djhe Z[b 9edi[`e DWY_edWb jW Z[ bei jhWXW`WZeh[i [i gk[ i[ Z[ IWbWh_ei$ :[ fWhj[ Z[ bei [gk_fWh[ Wb lWbeh Z[ bW YWdWijW jhWXW`WZeh[i ^Wo Zei fhe# X|i_YW" gk[ [i Z[ +-(")+ ZÂŒbW# fk[ijWi$ BW fh_c[hW gk[ i[ h[i e gk[ feh be c[dei ikXW [b[l[ [d )&.")+ ZÂŒbWh[i" fWhW [d '(+ ZÂŒbWh[i$ Bei gk[ bb[]k[ Wb lWbeh Z[ [cfh[iWh_ei" [d YWc# bW YWdWijW X|i_YW$ E bW ĹŠ i[]kdZW gk[ ikXW [d X_e" gk_[h[d gk[ i[W WYehZ[ W bW _dĂ“WY_ÂŒd" '(+ ZÂŒbWh[i" [i Z[Y_h" gk[ i[W Z[ )./ ZÂŒbW# Wbh[Z[Zeh Z[ )", c|i #ĹŠ !4#1".ĹŠ ĹŠ+ ĹŠ -.1, 3(5 ĔŊ2(ĹŠ#-ĹŠ Z[b I8K WYjkWb" gk[ #+ĹŠ2#-.ĹŠ"#+ĹŠ h[i" fWhW gk[ Æfeh be _cfb_YWh‡W kd Wkc[dje .-2#).ĹŠ-.ĹŠ2#ĹŠ c[dei YkXhW bW Z_# ++#% ĹŠ ĹŠ4-ĹŠ !4#1Äą ".ĹŠ' 23 ĹŠ+ ĹŠĂŒ+3(Äą Z[ -"/( ZÂŒbWh[i$ \[h[dY_W gk[ feh [b , ĹŠ1#4-(¢-ĔŊ2#1;ĹŠ ;b I8K l_][dj[ [i Z[ #+ĹŠ (-(23#1(.ĹŠ"#+ĹŠ cec[dje [n_ij[ [djh[ (,* ZÂŒbWh[i$ 9WZW Ă’d 1 ,.ĹŠ04(#-ĹŠ+.ĹŠ [b iWbWh_e Z_]de gk[ "#$(- ēŊŊ Z[ W‹e" i_d [cXWh]e" i[ ikcW jeZei bei _d]h[# Z[Ă’d[ kde dk[le fWhW iei Z[ bei jhWXW`WZeh[i [b i_]k_[dj[$ BWi d[]eY_WY_ed[i Z_l_Ze fWhW '( o d‘c[he Z[ fWhW bW [b[lWY_ÂŒd Z[ (&'( [c# f[hY[fjeh[i o bW YWdWijW X|# f[pWhed oW o [ij[ l_[hd[i ^W# i_YWÇ" [nfb_YÂŒ 9Whbei I|dY^[p" Z[b[]WZe Z[ bWi Y[djhWb[i i_d# Xh‡W Wb]e Z[Ă’d_j_le$ Feh be fhedje" de [ij| dWZW Z_YWb[i [d [b 9edi[`e$
ēŊ Ŋ(-"4231( Ŋ3#73(+Ŋ#2Ŋ4-.Ŋ"#Ŋ+.2Ŋ/(+ 1#2Ŋ"#Ŋ+ Ŋ#!.-.,~ Ŋ-.Ŋ/#31.+#1 Ŋ"#+Ŋ/ ~2ēŊ
)(., ( )Ĺ‹ .# ( Ĺ‹ , #'# (.)Ĺ‹. 2.#& +ĹŠ2#!3.1ĹŠ/1#2#-3 ĹŠ4-ĹŠ#234"(.ĹŠ#-ĹŠ#+ĹŠ04#ĹŠ 1#5#+ -ĹŠ+ 2ĹŠ/(#"1 2ĹŠ04#ĹŠ#5(3 -ĹŠ24ĹŠ"#2 Äą 11.++.ēŊ .ĹŠ!1#!#ĹŠ!.,.ĹŠ+ ĹŠ#!.-.,~ ēŊ ;b i[Yjeh j[nj_b Yh[Y_ÂŒ [d fhe# c[Z_e + YWZW W‹e [djh[ (&&& o (&'&$ ;ije b[ f[hc_j_ÂŒ cWd# j[d[hi[ Yece [b i[]kdZe i[Y# jeh c|i _cfehjWdj[ Z[djhe Z[b FheZkYje ?dj[hde 8hkje F?8 cWdk\WYjkh[he" i_d [cXWh]e" ik fWhj_Y_fWY_ÂŒd Z[djhe Z[b F?8 jejWb i[ h[Zk`e" YWoÂŒ Z[ ($+ W '$' $ ;ijei o ejhei ZWjei ieXh[ [b i[Yjeh i[ Z_[hed W YedeY[h Wo[h feh bW 7ieY_WY_ÂŒd Z[ ?d# Zkijh_Wb[i J[nj_b[i Z[b ;YkWZeh 7?J; " gk[ [bWXehÂŒ kd Wd|b_i_i cWYhe[YedÂŒc_Ye i[Yjeh_Wb Z[ bW ‘bj_cW ZƒYWZW$ BW YedYbki_ÂŒd gk[ Whhe`ÂŒ [b [ijkZ_e [i gk[ ÆbW _dZkijh_W de ^W feZ_Ze Yh[Y[h Wb h_jce gk[ Z[X‡W feh [b _dYh[# c[dje Z[b YedjhWXWdZe" bW \WbjW Z[ WYk[hZei Yec[hY_Wb[i o [b
ĈĔÄ?ÄŠĹ˜
-;+(2(2
:[ WYk[hZe W :‡Wp" [b YedjhW#
ÄŽĹŠÄĽ).8 2ÄŚĹŠ"#+ĹŠ!.-31 -". 1."4!3.ĹŠ .-31 -".ĹŠ#-ĹŠĹŒĹŠ,(++.-#2 #)(".2ĹŠ"#ĹŠ'(+ ".2ĹŠ"#ĹŠÄƒ+ ,#-3.2ĹŠ2(-3_3(!.2ĹŠ ČĉĔĉĎ 1 )#2ĹŠ2 231#ĔŊ!.-)4-3.2ĔŊ!' 04#3 2ĔŊ5#23(".2ĔŊ$ +" 2ĹŠ ĉĉĔĈĎ 4_3#1#2ĔŊ)#12#82ĔŊ/4++.5#12ĔŊ!;1"(% -ĔŊ!' +#!.2ĹŠ ĉĈĔđÄ? #)(".2ĹŠ"#ĹŠ +%."¢-ĹŠ!.-ĹŠ4-ĹŠ!.-3#-(".ĹŠ(-$#1(.1ĹŠ +ĹŠÄ‘ÄŽĹ˜ĹŠ#-ĹŠ/#2.ĹŠ ĈćĔćĈ ./ ĹŠ"#ĹŠ! , ĔŊ,#2 ĔŊ3.! ".1ĹŠ.ĹŠ!.!(- ĹŠ đĔĊĉ 4#-3#Ä–ĹŠ 1.ă3 2Ä“
'H \ VHPDQDV \ GtDV DO SRU PD\RU \ PHQRU GLHFLVpLV DxRV GH H[SHULHQFLD \ VHULHGDG *DUDQWL]DPRV QXHVWUR SURGXFWR /H VHUYLPRV DO
XWdZe [i [b fheXb[cW c|i ]hWl[$ Æ>WY[ f[hZ[h Yecf[j_# j_l_ZWZÇ$ I[]‘d [b Wd|b_i_i" [b YedjhWXWdZe i_]d_Ă’YÂŒ ','"- c_# bbed[i Z[ ZÂŒbWh[i [djh[ (&&, o (&&/$ ;ije ^W ][d[hWZe Wb ;ijWZe kd f[h`k_Y_e Z[ kdei -,"+ c_# bbed[i Z[ ZÂŒbWh[i" Z[ bei YkWb[i" ).". Yehh[ifedZ[d W de fW]e Z[ WhWdY[b[i" '' c_bbed[i W de fW]e Z[ iWblW]kWhZ_Wi o (,"- c_bbe# d[i feh ?L7$ ;b YedjhWXWdZe fhel[dZh‡W Z[ FWdWc|" 9^_dW o F[h‘" fh_dY_fWbc[dj[$
Yh[Y_c_[dje Z[ _cfehjWY_ed[iÇ" [nfb_YÂŒ @Wl_[h :‡Wp" fh[i_Z[dj[ Z[ 7?J;$ BW fWhj_Y_fWY_ÂŒd j[nj_b [d [b F?8 _dZkijh_Wb YWoÂŒ Z[ ')$/- [d (&&& W '($)* [d (&'&$ FWXbe :|lWbei" WdWb_ijW [Ye# dÂŒc_Ye" i[‹WbÂŒ gk[ Æ[ije _c# fb_YW gk[ de iecei kdW [Yedec‡W Z[ lWbeh W]h[# ]WZe" _dZkijh_Wb o gk[ ' ĹŠ2(".ĹŠ+ ĹŠ! ~" ĹŠĹŠ -Ä„ !(¢-ĹŠ de ^Wd [n_ij_Ze feb‡j_YWi "#ĹŠ+ ĹŠ1#/1#2#-3 Äą :‡Wp WZ[c|i h[iWbjÂŒ f‘Xb_YWi gk[ f[hc_jWd !(¢-ĹŠ3#73(+ĹŠ#-ĹŠ#+ĹŠ gk[ [b ĂždZ_Y[ Z[ Fh[Y_ei ĹŠ(-"4231( +ēŊ [b Yh[Y_c_[dje$ Wb FheZkYjeh ?FF ^W ;b j[nj_b Z[X[h‡W i[h ikX_Ze c|i gk[ [b ‡d# kde Z[ bei i[Yjeh[i Z[ cW# Z_Y[ Z[ Fh[Y_ei Wb 9edikc_Zeh oeh _cfehjWdY_W fehgk[ j_[d[ ?F9 $ Feh [`[cfbe" [d del_[c# [\[Yje ckbj_fb_YWZeh [d [b [c# Xh[ Z[ (&&*" [d [b i[]c[dje ^_bWZei" [b ?F9 bb[]ÂŒ W i[h Z[ # fb[eÇ$ .$)/ o [b ?FF ',$., $
#3 ++#2
SR
-$.1, +(" "
;d [b Wd|b_i_i [dYedjhWhed ]hWdZ[i Z_\[h[dY_Wi [djh[ be gk[ h[fehjW bW Ikf[h_dj[dZ[dY_W Z[ 9ecfW‹‡Wi o [b 9[die ;YedŒ# c_Ye (&'&$ Feh [`[cfbe" i[]‘d bW Ikf[h_dj[dZ[dY_W" W (&'& ^kXe ('* [cfh[iWi Z[ \WXh_YW# Y_Œd Z[ fheZkYjei j[nj_b[i$ ;b 9[die ;YedŒc_Ye" i_d [cXWh# ]e" i[‹WbW gk[ ^Wo /$-)/ [ijW# Xb[Y_c_[djei Z[djhe Z[b i[Yjeh" bW i_jkWY_Œd [i gk[ W^‡ _d]h[iWd Z[iZ[ [b iWijh[ Z[ XWhh_e ^WijW bW ]hWd \|Xh_YW j[nj_b$
ýúĚ Ćŋ )! )ŋ &ŋ*)&# v ŋ / ,ŋ-)&# #. ŋ#( /&.)ŋ )-ŋ* ,-)( -ŋ
g Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. ÄŒĹ?
/ ,)(Ĺ‹ &#'#( -Ĺ‹ Ĺ‹.#,)-Ĺ‹
#2/4_2ĹŠ"#ĹŠ' Äą #12#ĹŠ#-31#% ".ĹŠ ĹŠ+ 2ĹŠ 43.1(" "#2ĔŊ #+ĹŠ/.+(!~ ĹŠ 4! 1ĹŠ 2.+(!(3 ĹŠ#+ĹŠ/#1"¢-ēŊ @W_c[ FWkYWh" gk_[d i[ [d# Yk[djhW Z[j[d_Ze [d [b 9[djhe Z[ H[^WX_b_jWY_ÂŒd Fhel_i_edWb Z[ Gk_je Z[ifkƒi Z[ ^WX[hi[ [djh[]WZe W bWi Wkjeh_ZWZ[i [b fWiWZe cWhj[i" fh[i[djÂŒ bW f[# j_Y_ÂŒd Z[ _dZkbje [d ^ehWi Z[ bW cW‹WdW Z[ Wo[h$ >k]e 7kb[ij_W" WXe]WZe Z[# \[dieh Z[b kd_\ehcWZe" bb[]ÂŒ Wb C_d_ij[h_e Z[b ?dj[h_eh WYec# fW‹WZe feh bei \Wc_b_Wh[i Z[ FWkYWh fWhW f[Z_h i[ jhWc_j[ ik _dZkbje$ ;b ZeYkc[dje [ij| Z_h_]_Ze Wb c_d_ijhe Z[b ?dj[h_eh" @eiƒ I[hhW# de" o [b ][dZWhc[ ieb_Y_jW Wb @[\[ Z[ ;ijWZe gk[ WY[fj[ bWi Z_iYkb# fWi o feh Æi[dj_c_[dje Z[ f_[# ZWZ" [d kd WYje Z[ ^kcWd_ZWZ WZc_jW [b f[hZÂŒd gk[ ieb_Y_je o c[ YedY[ZW [b _dZkbjeÇ$ 7Z`kdje Wb _dZkbje" [b kd_\eh# cWZe [djh[]ÂŒ bW i[dj[dY_W [c_# j_ZW feh bW Fh_c[hW IWbW Z[ bW 9ehj[ DWY_edWb Z[ @kij_Y_W 9D@ " YedZ[d|dZeb[ W Zei W‹ei Z[ fh_# i_ÂŒd Yehh[YY_edWb" fheY[ie gk[ YedijW Z[ +/ ^e`Wi$ #$#-2 ĹŠ
;b WXe]WZe Z[\[dieh Z[b feb_Y‡W" >k]e 7kb[ij_W" cWd_\[ijÂŒ gk[ [d ik f[j_Y_ÂŒd `kij_Ă’YÂŒ Yed jeZei bei ZeYkc[djei Z[ Z[iYWh]e" gk[ [b ][dZWhc[ ^W Z[ceijhWZe
Ŋ ěŊ Ik`[jei Z[iYedeY_#
ēŊ 1~ Ŋ 4 +.34 ĔŊ, "1#Ŋ"#+Ŋ/.+(!~ ĔŊ8Ŋ - Ŋ +4,(04(-% ĔŊ#2/.2 ĔŊ#-Ŋ#+Ŋ (-(23#1(.Ŋ"#+Ŋ -3#1(.1ē
.Ŋ04#Ŋ/ 2¢Ŋ2.-Ŋ !(1!4-23 -!( 2Ŋ04#Ŋ+#Ŋ /."1~ -Ŋ.!411(1Ŋ Ŋ!4 +Ĺ 04(#1Ŋ.31 Ŋ/#12.- ĔŊ/4#2Ŋ-.Ŋ 2.,.2Ŋ/#1$#!3.2ĢēŊ Ŋ
ĹŠ ĹŠ ĹŠ } Ä“
kdW YedZkYjW [`[cfbWh o de fh[# i[djW f[b_]hei_ZWZ Wb]kdW fWhW d_d]‘d Y_kZWZWde$ 7kb[ij_W _d\ehcŒ gk[ de ^Wo kd j_[cfe [ijWXb[Y_Ze fWhW gk[ i[ YedepYW [b fhedkdY_Wc_[dje Z[b Fh_c[h CWdZWjWh_e o WYbWhŒ gk[ fh[l_e Wb Wd|b_i_i Yehh[ifed# Z_[dj[ [i \WYkbjWZ Z[b @[\[ Z[ ;i# jWZe ZWh ik l[h[Z_Yje$
2/#1 -9 ŗŊŊ .-Ŋ+;%1(, 2Ŋ#-Ŋ+.2Ŋ.).2Ŋ+ Ŋ, "1#Ŋ"#+Ŋ4-($.1, ".ĔŊ 1~ Ŋ 4 +.34 ĔŊ"().Ŋ 04#Ŋ, -3(#-#Ŋ#2/#1 -9 2Ŋ"#Ŋ04#Ŋ#+Ŋ 1(,#1Ŋ -" 3 1(.Ŋ!.-!#" Ŋ#+Ŋ(-"4+3.ēŊ
ÄĄ .ĹŠ2~ĹŠ!1#.ĹŠ#-ĹŠ+ ĹŠ/ + 1 ĹŠ"#+ĹŠ2# .1ĹŠ 1#2("#-3#ĹŠ8ĹŠ+.ĹŠĂŒ-(!.ĹŠ04#ĹŠ+#ĹŠ/(".ĹŠ#2ĹŠ04#ĹŠ-.2ĹŠ "_ĹŠ4- ĹŠ 4#- ĹŠ-.3(!( ēŊ (ĹŠ'().ĹŠ04(#1#ĹŠ3#1,(- 1ĹŠ#2#ĹŠ, 13(1(.ĢĔŊ2# +¢ē #ĹŠ24ĹŠ/ 13#ĔŊ - ĹŠ +4,(04(-% ĔŊ#2/.2 ĹŠ"#+ĹŠ%#-" 1,#ĔŊ, -($#23¢Ŋ04#ĹŠ/ 1 ĹŠ#++ ĹŠ #2ĹŠ"($~!(+ĹŠ5#1+#ĹŠ ĹŠ24ĹŠ#2/.2.ĹŠ-4#5 ,#-3#ĹŠ31 2ĹŠ+ 2ĹŠ1#) 2ēŊ
-23(34!(¢-
I[]‘d [b WXe]WZe Z[\[d# ieh" Z[djhe Z[ bW Feb_Y‡W DWY_edWb" @W_c[ FWkYWh j_[d[ Zei jh|c_j[i WZc_# d_ijhWj_lei$ BW _dij_jkY_Œd [ij| WdWb_pWdZe i_ [b feb_Y‡W ^W _dYkhh_Ze YedjhW Wb]‘d fheY[Z_c_[dje _dj[hde$ I_d
[cXWh]e" [b `kh_ijW WYbWhŒ gk[ ik Z[\[dZ_Ze W‘d de [ij| \k[hW Z[ bW _dij_jkY_Œd$
ĹŠ ĹŠ
}
ik ^[hcWde 7b\h[Ze CWkh_Y_e o HeX[hje CWkh_Y_e @Whh‡d JWcWoe$ ;d ZeYkc[dje ÒhcWZe feh C_bjed F[‹Whh[jW 7blWh[p" `k[p dWY_edWb Z[ =WhWdj‡Wi F[dWb[i" i[ i[‹WbW Yk|b[i ied bWi Z_ife# i_Y_ed[i Z[ b[o fWhW `kp]Wh W bei c_[cXhei Z[ bW 99$ # !!(¢-Ŋ
ÆBW 9D@ W^ehW j_[d[ c_[Ze Z[ `kp# ]Wh Wb Wc_]e Z[b fh[i_Z[dj[ HW\W[b 9ehh[W" FWjh_Y_e FWpc_‹e" _dlebk# YhWZe feh [b <_iYWb [d [ijei WYjei YedjhW bW WZc_d_ijhWY_ÂŒd f‘Xb_# YWÇ" Z_`e [b WiWcXb[‡ijW =Wbe BWhW" gk_[d Z[dkdY_ÂŒ bei ikfk[ijei fW#
49% ,(#-3.ĹŠ Ĺ—ĹŠĹŠ #ĹŠ !4#1".ĹŠ +ĹŠÄĽ -2314!3(5.ĹŠ / 1 ĹŠ#+ĹŠ)49% ,(#-3.ĹŠ"#ĹŠ+.2ĹŠ
,(#, 1.2ĹŠ"#ĹŠ+ ĹŠ .13#ĹŠ .-23(Äą 34!(.- +ĹŠ/.1ĹŠ"#+(3.2ĹŠ"#ĹŠ !!(¢-ĹŠ /ĂŒ +(! ČĔŊ#23.2ĹŠÄĽ-.ĹŠ#23 1;-ĹŠ 24)#3.2ĹŠ ĹŠ)4(!(.ĹŠ/.+~3(!.ĹŠ-(ĹŠ/."1;-ĹŠ 2#1ĹŠ1#,.5(".2ĹŠ/.1ĹŠ04(#-#2ĹŠ+.2ĹŠ "#2(%-#-ēēēČ "#,;2ĔŊ+.2ĹŠ,(#, 1.2ĹŠ"#ĹŠ+ ĹŠ ĔŊ 2(-ĹŠ/#1)4(!(.ĹŠ"#ĹŠ+ ĹŠ1#2/.-2 (+(" "ĹŠ !(5(+ĔŊ#-ĹŠ! 2.ĹŠ"#ĹŠ!4+/ (+(" "ĹŠ/#- +ĹŠ ĂŒ-(! ,#-3#ĹŠ2#1;-ĹŠ !42 ".2ĹŠ/.1ĹŠ#+ĹŠ (2! +ĹŠ8ĹŠ)49% ".2ĹŠ/.1ĹŠ#+ĹŠ/+#-.ĹŠ"#ĹŠ+ ĹŠ .13#ĹŠ !(.- +ĹŠ"#ĹŠ 423(!( Ä“
]ei Wb i[Yh[jWh_e Z[ bW 99$ I[]‘d BWhW" be gk[ i[ Z[# X[h‡W ^WY[h [d [ij[ fheY[ie [i ]_hWh kdW Xeb[jW Z[ YWf# jkhW ÆfWhW gk[ de ^koWd Z[b fW‡iÇ" Z_`e$ 7F%
Ŋ+#8Ŋ#2Ŋ+ Ŋ+#8Ŋ8Ŋ Ŋ+.2Ŋ ,(%.2Ŋ"#Ŋ .11# ĔŊ !.,.Ŋ 31(!(.Ŋ 9,(Ĺ  .ĔŊ' 8Ŋ04#Ŋ /+(! 1+ Ģē
Zei gk[ i[ cel_b_pWXWd [d Zei YWhhei" Z_ifWhWhed o cWjWhed W Zei f[hiedWi gk[ i[ [dYedjhW# XWd bWlWdZe ik l[^‡Ykbe [d bWi YWbb[i IWd CWhj‡d o JkbY|d" [d =kWoWgk_b$ KdW Z[ bWi l‡Yj_cWi cehjW# b[i \k[ _Z[dj_Ă’YWZW Yece Ce_iƒi Gk_dZ[ ;if_d[b" gk_[d `kdje W kd Wc_]e bWlWXW kdW YWc_ed[jW$ <k[# hed iehfh[dZ_Zei feh bei Wi[i_dei YkWdZe [ijei b[i Z_ifWhWhed i_d ZWhb[i j_[cfe W Z[\[dZ[hi[$ LWh_ei j[ij_]ei Z_`[hed gk[ bei ik`[jei de i[ bb[lWhed dWZW Z[ iki l‡Yj_cWi" feh be gk[ i[ fh[ikc[ gk[ [b Yh_c[d \k[ kd i_YWh_Wje feh W`kij[ Z[ Yk[djWi$ L‡Yjeh B[ÂŒd" W][dj[ Ă’iYWb Z[b =kWoWi" h[Ye]_ÂŒ jeZW bW [l_Z[dY_W Z[b YWie fWhW _d_Y_Wh bWi _dl[ij_# ]WY_ed[i$ 7cXei \Wbb[Y_Zei h[Y_# X_[hed Wbh[Z[Zeh Z[ ', _cfWYjei Z[ XWbW$ Gk_dZ[ \k[ bb[lWZe W kdW YWiW Z[ iWbkZ" ZedZ[ iebe i[ Yec# fheXÂŒ ik \Wbb[Y_c_[dje$ ĹŠ
Ĺ‹-)&# #. Ĺ‹ &Ĺ‹ #- &Ĺ‹- Ĺ‹, .#ð+/ Ĺ‹ &Ĺ‹ - ,#.)Ĺ‹-) , Ĺ‹ &Ĺ‹ -)Ĺ‹ BW 9ehj[ DWY_edWb Z[ @kij_Y_W 9D@ [c_j_ÂŒ" Yed \[Y^W '( Z[ Z_# Y_[cXh[" kd fhedkdY_Wc_[dje [d [b gk[ ieb_Y_jW Wb Ă’iYWb ][d[hWb" =Wbe 9^_h_Xe]W" i[ hWj_Ă’gk[ [d [b [iYh_je fh[i[djWZe feh [b Ă’iYWb ik# Xhe]Wdj[" 9ƒiWh CehWb[i" ieXh[ [b YWie 9[hl[Y[h‡W DWY_edWb$ :[ WYk[hZe Wb ZeYkc[dje Z[ bW 9D@" Æfh[l_e W h[iebl[h be gk[ \k[# hW Z[ b[o o W Ă’d Z[ [l_jWh fei_Xb[i dkb_ZWZ[i feij[h_eh[i" i[ Z_ifed[ gk[" Z[ Yedi_Z[hWhbe f[hj_d[dj[" [b ZeYjeh =Wbe 9^_h_Xe]W PWcXhWde" Ă’iYWb ][d[hWb" hWj_Ă’gk[ [b [iYh_je fh[i[djWZe Yed \[Y^W + Z[ Z_Y_[c# Xh[ Z[ (&''" W bWi '+0(&Ç$ 9ƒiWh CehWb[i DWhWd`e" Ă’iYWb ikXhe]Wdj[" ieb_Y_jÂŒ gk[ i[ i[‹W# b[ Z‡W o ^ehW fWhW bW WkZ_[dY_W Z[ \ehckbWY_ÂŒd Z[ YWh]ei [d YedjhW Z[ FWjh_Y_e FWpc_‹e <h[_h[" fh[i_# Z[dj[ Z[ bW 991 7hjkhe @Wl_[h BW# hh[W @_`ÂŒd" [ni[Yh[jWh_e Z[ bW 99" o
Ć
1(,(- +~23(! ĹŠ!.-$(1,¢Ŋ04#ĹŠ+.2ĹŠ24)#3.2ĹŠ$4#Äą 1.-ĹŠ 2#2(- ".2ĹŠ!.-ĹŠ + ĹŠ! +( 1#ŊĊđŊ8ĹŠÄŒÄŽÄ“
ć
g ŏāąŏ ŏ ŏ ŏŏĂĀāā
ŏ +. ŏ
!
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
'408/9 /0K.408>0 0 48=?K.408>0 B, ;?0 /08><9 /06 =4=>07, 0/?.,>4@9 =979= 746 /9.08>0= .98 897-<,7408>9 B 746 08 6, 79/,64/,/ /0 .98><,>,/9= , ;?4080= =0 :<93F-0 06 ,..0=9 , .,:,.4>,.4H8 /9.08>0 =02I8 ,.?0</9 7484=>0<4,6 08 6, .?,6 =0 ,=428, 39<,= =07,8,60= :,<, .,:,.4>,.4H8 :0/,2H24., 08 06 ' $&# :0<9 89 0A4=>0 69= .?:9= =?K.408>0= .98/08,8/9 , 69= /9.08>0= , .97:0>4< :9< ?8 .?:9 =48 =0.?08.4, 6H24., /0 .,:,.4>,.4H8 ;?0 7059<0 06 /0=07:0G9 :<910=498,6 48>02<,6 B 89 =969 .,=?,6 9 0@08>?,6
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
/9= /0 6, .98=0.?08.4, :,<, /0108/0< 69= /0<0.39= ! $ ! B C 6 '203/)7%0)17) *%/62 48) ! 6D/2 ,%') 3%526 325 686 -17)5)6)6 /26 ,)',26 ()08)675%1 /% 1%785%/)<% ; *257%/)<% ()/ +5)0-2
t 1SFNJP +VBO .POUBMWP FOUSFHBEP QPS FM .& QPS MB .,7:,G, /0 ,61,-0>4C,.4H8 !482, :9< 6, =:0<,8C,
t 1SPZFDUP /BWFHBS QSFNJP JOUFSOBDJPOBM QPS NFKPS :<92<,7, /0 .,:,.4>,.4H8 /9.08>0 B 06 :<470<9 08 ,>489,7E<4., ,6 6602,< , 7D= /0 746 /9.08>0= 08 >0.89692F,= ,:64.,/,= , 6, 0/?.,.4H8
t 1SPQVFTUB 1FEBHØHJDB EF &EVDBDJØO QBSB MB &NBODJ :,.4H8 <0.989.4/9 .979 484.4,>4@, 4889@,/9<, :<92<0=4=>, B /0 ,@,8C,/, 08><0 6,= 9<2,84C,.4980= /0 /9.08>0= 08 7E<4., ,>48, B =,-9>0,/, :9< 06 29-40<89 /0 9<<0, t =4=>08.4, 5?<F/4., , 69= /9.08>0= 08 6, /0108=, :<910=498,6
t $BQBDJUBDJPOFT QFSNBOFOUFT FO UFNBT EF -FHJTMBDJØO /?.,>4@, $0/,292F, 4/D.>4., /0 7,>07D>4.,= B 6082?,50 ,.?0</9 .98 06 !
t 3FTDBUF EF MB #JCMJPUFDB 1FEBHØHJDB i&NJMJP 6[DÈUFHVJw B /4=:9=4.4H8 /0 6, .4?/,/,8F, /9.08>0= B 0=>?/4,8>0= 08 19<7,.4H8 /9.08>0
t %PT $POHSFTPT EF &EVDBDJØO 1ÞCMJDB DPO QBSUJDJQBDJØO Z ,:9B9 /06 !484=>0<49 /0 /?.,.4H8 (84@0<=4/,/0= $,/<0= B !,/<0= /0 ,7464, =>?/4,8>0= =9.4,.4980= /0 4<0.>4@9= 9.08>0= '?:0<@4=9<0= B /07D= 2<0749= 9<2,84C,.4980= /06 '4=>07, /?.,>4@9 ",.498,6
t 1SPQVFTUB EF #BDIJMMFSBUP *OUFHSBM &DVBUPSJBOP BQFHBEB , 69= :<0.0:>9= .98=>4>?.498,60= B /0<0.39= 1?8/,708>,60= /0 6, 5?@08>?/ ,K<7,/9= 08 ?8, 0=.?06, B 19<7,.4H8 :,<, 6, @4/, B 06 ><,-,59 .98 /4284/,/
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
%5-%1% %//%6'2 -9)5% !
.6
= ! A # $ ! ! B ! @ ! ! !
ŋ)ð #  ŋ& ŋ ( -/,
g Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. ÄŒĹ?
Ĉ
ÄˆÄˆĹŠ"#ĹŠ+.2ĹŠÄˆÄ‰ĹŠ 23 ".2ĹŠ04#ĹŠ!.-$.1, -ĹŠ+ ĹŠ -(¢-ĹŠ"#ĹŠ !(.-#2ĹŠ 41 ,#1(! - 2ĔŊ' -ĹŠ 1 3(ă! ".ĹŠ#+ĹŠ 1 3 ".ĹŠ .-23(343(5.ēŊ 9ed bW l_i_jW gk[ bW YWdY_bb[h YebecX_WdW CWh‡W Ă›d][bW >eb]k‡d" h[Wb_pW ^eo W ;YkW# Zeh fWhW [djh[]Wh [b ?dijhk# c[dje Z[ hWj_Ă’YWY_ÂŒd Z[b ;i# jWZe 9edij_jkj_le Z[ bW Kd_ÂŒd Z[ DWY_ed[i IkhWc[h_YWdWi KdWikh " [b eh]Wd_ice gk[ \k[ Yh[WZe [d (&&. gk[ZWh‡W Yedij_jk_Ze eĂ’Y_Wbc[dj[" i[# ]‘d _d\ehcÂŒ bW i[Yh[jWh_W =[# d[hWb" CWh‡W ;ccW C[`‡W$ I_ X_[d bW KdWikh [ij| _dj[# ]hWZW feh 7h][dj_dW" 8eb_l_W" 8hWi_b" 9^_b[" 9ebecX_W" ;YkW# Zeh" =koWdW" FWhW]kWo" F[h‘" Ikh_dWc" Khk]kWo o L[d[pk[bW" bW i[Yh[jWh_W =[d[hWb Z[b eh]W# d_ice c[dY_edÂŒ gk[ 9ebecX_W [hW [b ‘d_Ye Z[ bei '( ;ijWZei gk[ j[d‡W f[dZ_[dj[ [ij[ fheY[# Z_c_[dje$ De eXijWdj[" kdW l[p gk[ ^eo" W bWi '+0&&" i[ [djh[]k[ Wb YWdY_bb[h H_YWhZe FWj_‹e" bW hWj_Ă’YWY_ÂŒd i[ ^WXh| fk[ije oW ÆdecXh[ o Wf[bb_Ze Wb jhWjWZeÇ" [d\Wj_pÂŒ o Z_`e gk[ ÆW^ehW [b Z[#
iW\‡e [i [cf[pWh W f[diWh [d bW _dj[]hWY_ÂŒd Z[ l[hZWZÇ$ + -!#ĹŠÄ‰Ä‡ÄˆÄˆ
7Z[c|i Z[ Z[ijWYWh [ij[ ^[# Y^e" bW \kdY_edWh_W i[ h[Ă’h_ÂŒ W bei WlWdY[i gk[ ^W j[d_Ze [ij[ eh]Wd_ice ZkhWdj[ [ij[ W‹e [d# jh[ bei YkWb[i Y_jÂŒ bW [djhWZW [d \kdY_edWc_[dje Z[b 9[djhe Z[ ;ijkZ_e ;ijhWjƒ]_Yei Z[ :[\[d# iW 9;;: o [b ?dij_jkje IkhW# c[h_YWde Z[ =eX_[hde [d IWbkZ ?iW]i $ C[`‡W ^WXbÂŒ jWcX_ƒd Z[ bei fheo[Yjei gk[ j_[d[ bW KdWikh [djh[ bei gk[ i[ [dYk[djhWd bW fei_X_b_ZWZ Z[ [ijWXb[Y[h kd Wd_bbe ÂŒfj_Ye fWhW j[b[Yeckd_# YWY_ed[i [ ?dj[hd[j" j[dZ_[dj[ W Yed\ehcWh kdW h[Z ikhWc[# h_YWdW Z[ hWZ_e[c_iehWi" YWdW# b[i f‘Xb_Yei o Wd_bbei l_Wb[i gk[ _dj[]hWh|d W jeZei bei fW‡i[i o Yedjh_Xk_h| W Æikf[hWh bW Xh[# Y^W Z_]_jWbÇ$ 7i_c_ice i[ h[Ă’h_ÂŒ Wb 8Wd#
)#Ŋ5( +ĔŊ#+Ŋ, 8.1Ŋ/1.8#!3.Ŋ ŊŊ +Ŋ, 8.1Ŋ/1.8#!3.Ŋ"#Ŋ(-$1 #2314!341 Ŋ"#Ŋ+ Ŋ -(¢-Ŋ"#Ŋ !(.-#2Ŋ 41 ,#1(! - 2Ŋ ŗĸ - 241ĚŊ#-Ŋ+ Ŋ/1¢7(, Ŋ"_! " Ŋ2#1Ŋ4-Ŋ!.11#".1Ŋ5( +Ŋ04#Ŋ4- Ŋ 1 ! 2ĔŊ .%.3;Ŋ8Ŋ
4(3.ĔŊ04#ĹŠ!.23 1;ŊĊēĊĎćŊ,(++.-#2ĹŠ"#ĹŠ"¢+ 1#2ĔŊ2#%ĂŒ-ĹŠ"().ĹŠ 8#1ĹŠ+ ĹŠ2#!1#3 1( ĹŠ%#-#1 +ĹŠ "#+ĹŠ.1% -(2,.ĔŊ 1~ ĹŠ ,, ĹŠ #)~ Ä“
ĹŠ(-(!( 3(5 ĹŠ2#ĹŠ#-!4 "1 ĹŠ#-ĹŠ4-ĹŠ/+ -ĹŠ"#ĹŠ. 1 2ĹŠ"#ĹŠ(-3#%1 !(¢-ĹŠ"#ĹŠ 41 ,_1(! ĹŠ /.1ĹŠ5 +.1ĹŠ"#ĹŠ! 2(ĹŠÄˆÄŠÄ“Ä?ććŊ,(++.-#2ĹŠ"#ĹŠ"¢+ 1#2ĹŠ' 23 ŊĉćĉĉĔŊ /1. ".ĹŠ#23#ĹŠ  .ĹŠ/.1ĹŠ +.2ĹŠ,(-(231.2ĹŠ"#ĹŠ+.2ĹŠ/ ~2#2ĹŠ,(#, 1.2ĹŠ"#ĹŠ+ ĹŠ - 241Ä“
ēŊ ĹŠ2#!1#3 1( ĹŠ%#-#1 +ĹŠ"#ĹŠ+ ĹŠ -(¢-ĹŠ"#ĹŠ !(.-#2ĹŠ 41 ,#1(! - 2Ŋĸ - 241ĚĔŊ 1~ ĹŠ ,, ĹŠ #)~ ĔŊ#+ĹŠ,(-(231.ĹŠ"#ĹŠ "4! !(¢-ĹŠ 8ĹŠ 4+341 ĹŠ"#ĹŠ 1 %4 8ĔŊ ~!3.1ĹŠ ~.2ĹŠ8ĹŠ#+ĹŠ2#!1#3 1(.ĹŠ !(.- +ĹŠ"#ĹŠ + -(ă! !(¢-ĹŠ8ĹŠ #2 11.++.Ŋĸ #-/+ "#2ĚĔŊ -"#1ĹŠ +!.-~ēŊ $#
Ye Z[b Ikh gk[ WokZWh‡W W fhej[][h W bW h[]_Œd Z[ fei_Xb[i Yh_i_i [YedŒc_# YWi c[Z_Wdj[ [b cWd[`e Yed`kdje Z[ bWi h[i[hlWi _dj[hdWY_edWb[i" [b \ehjW# b[Y_c_[dje Z[b Yec[hY_e _djhWhh[]_edWb o Wkc[d# je Z[ bWi jhWdiWYY_ed[i [d ced[ZWi beYWb[i$
ĹŠ
Feh ik fWhj[" FWj_‹e _d# Z_YŒ gk[ [d [b [dYk[djhe
ĹŠ - 241ĹŠ/42.ĹŠ gk[ cWdj[dZh| Yed ik #-ĹŠ5(%#-!( ĹŠ24ĹŠ ^ecÂŒbe]W YebecX_WdW W /;%(- ĹŠ6# ĹŠ.$(Äą !( +ĹŠ!48 ĹŠ"(1#!Äą fWhj[ Z[ h[Y_X_h [b ?dijhk# !(¢-ĹŠ#2ĹŠ'33/Ėľľ 4- 2412%Ä“.1%Ä“ c[dje Z[ HWj_Ă’YWY_ÂŒd Z[b JhWjWZe 9edij_jkj_le Z[ bW KdWikh jhWjWh|d ieXh[ bWi WYY_ed[i Z[ Yeef[hWY_ÂŒd Yed#
j_dW edZ[W Z[iZ[ Wo[h [d bW i[Z[ fWh_i_[di[ Z[ bW Kd[iYe" bW fh_# c[hW W][dY_W Z[ bW EDK gk[ ^W h[YedeY_Ze Yece c_[cXhe Z[ fb[de Z[h[Y^e W [i[ j[hh_jeh_e$ ;b _pWZe Z[ bW [di[‹W fWb[ij_# dW i[ fheZk`e [d kd WYje ieb[c# d[ Wb gk[ Wi_ij_ÂŒ [b fh[i_Z[dj[ fWb[ij_de" CW^ckZ 7X|i" o bW Z_h[YjehW ][d[hWb Z[ bW Eh]Wd_# pWY_ÂŒd Z[ bW EDK fWhW bW ;Zk# YWY_ÂŒd" bW 9_[dY_W o bW 9kbjkhW Kd[iYe " ?h_dW 8eaelW$ Æ;if[he gk[ [ij[ WYje Z[ WZ^[i_ÂŒd i[W Z[ Xk[d Wk]kh_e fWhW bW _dYbki_ÂŒd Z[ FWb[ij_dW [d ejhWi eh]Wd_pWY_ed[i _dj[h# dWY_edWb[iÇ" Wi[]khÂŒ 7X|i" gk_[d i[ Yecfhec[j_ÂŒ W h[i# f[jWh bei Yecfhec_iei Z[ bW Kd[iYe Æ[d cWj[h_W Z[ fWp" [ZkYWY_ÂŒd" YkbjkhW o Y_[dY_WÇ$
ËĔŊ ĹŠ ěŊ ;b cW]dWj[ hkie C_`W‡b FhÂŒ`ehel" kde Z[ bei ^ec# Xh[i c|i h_Yei Z[b fW‡i" WdkdY_ÂŒ Wo[h gk[ i[ [d\h[djWh| Wb fh_c[h c_d_ijhe" LbWZ‡c_h Fkj_d" [d bWi [b[YY_ed[i fh[i_Z[dY_Wb[i Z[ cWhpe fhÂŒn_ce$ Æ;ijW [i" fheXWXb[c[dj[" bW Z[Y_i_ÂŒd c|i _cfehjWdj[ Z[ c_ l_ZWÇ" WĂ’hcÂŒ [d hk[ZW Z[ fh[d# iW FhÂŒ`ehel" gk_[d W‹WZ_ÂŒ gk[ de YedikbjÂŒ Yed [b Ah[cb_d ik Z[Y_# i_ÂŒd Z[ YedYkhh_h W bei Yec_Y_ei$ FhÂŒ`ehel" Z[ *, W‹ei" Zk[‹e Z[b YbkX [ijWZekd_Z[di[ D[m @[hi[o D[ji Z[ bW D87" Wi[]khÂŒ
Y_ÂŒd o [b Xbegk[eÇ Wb gk[ ^Wd i_Ze iec[j_Zei$ :[ijWYÂŒ bW WfehjWY_ÂŒd [d [ij[ i[dj_Ze Z[ bei dkc[heiei Whj_ijWi [ _dl[ij_]WZeh[i [n_# b_WZei" Ykoe jhWXW`e Æ^W ZWZe |d_cei W bei gk[ bkY^WXWd [d [b _dj[h_ehÇ$ #!.-.!(,(#-3.
7X|i _dZ_YÂŒ gk[ bW WZ^[i_ÂŒd W bW Kd[iYe [i Ækd fh_c[h fWieÇ [d [b h[YedeY_c_[dje feh jeZW bW Yeckd_ZWZ _dj[hdWY_edWb" f[he _dZ_YÂŒ gk[ bW Yh[WY_ÂŒd Z[b ;ijWZe fWb[ij_de Z[X[ ^WY[hi[ [d fWhWb[be W ?ihW[b$ Æ;if[he gk[ _]kWb gk[ ^eo [ijWcei [d bW Kd[iYe" feZW# cei j[d[h Wb]‘d Z‡W kd ;ijWZe _dZ[f[dZ_[dj[ gk[ l_lW Wb bWZe Z[ ?ihW[b" Yed kd [if‡h_jk Z[ fWp o Yedl_l[dY_WÇ" YedYbkoÂŒ$ 8eaelW" feh ik fWhj[" h[Yeh# /.13#ĹŠ!4+341 + ZÂŒ bWi fWbWXhWi Z[b i[Yh[jWh_e ;b fh[i_Z[dj[ fWb[ij_de Wi[]khÂŒ ][d[hWb Z[ bW EDK" 8Wd A_# gk[ ik j[hh_jeh_e" Æbk]Wh Z[ [d# ceed" Z[ gk[ bW fWp [d Eh_[dj[ Yk[djhe Z[ YkbjkhWiÇ" ^W iWX_Ze C[Z_e bb[]Wh| Yed bW Yh[WY_ÂŒd fh[i[hlWh iki jhWZ_Y_ed[i o ik Z[ Zei ;ijWZei gk[ l_lWd Z[ fWjh_ced_e Æf[i[ W bW eYkfW# \ehcW Yed`kdjW$
`kdjW fWhW [b Z[iWhhebbe ieY_Wb [d bW \hedj[hW" WYk[hZei fWhW Wcfb_Wh [b fk[dj[ Z[ Hkc_Y^W# YW" [b j[cW Z[ jhWdifehj[ o W bW l[p fh[fWhWh|d [b [dYk[djhe [djh[ bei fh[i_Z[dj[i" HW\W[b 9ehh[W" o @kWd CWdk[b IWdjei" Z[ 9ebecX_W" gk[ i[ j_[d[ fh[# l_ije fWhW [b fhÂŒn_ce '/ Z[ Z_# Y_[cXh[" [d Gk_je$
/&.#'#&&)( ,#)Ĺ‹,/-)Ĺ‹ - Ĺ‹ ( , (. ,6Ĺ‹ Ĺ‹ /.#(Ĺ‹
ŋ ŋ ( , ŋ ŋ & -.#( ŋ3 ŋ)( ŋ (ŋ& ŋ ( - ) } ĔŊ ŊěŊ BW XWdZ[hW Z[ FWb[i#
../#1 !(¢-Ŋ!.-Ŋ .+., (
ēŊ +Ŋ/1#2("#-3#Ŋ/ +#23(-.ĔŊ ',4"Ŋ ;2ĔŊ' + Ŋ31 2Ŋ#+Ŋ(9 ".Ŋ "#Ŋ24Ŋ -"#1 Ŋ#-Ŋ+ Ŋ2#"#Ŋ"#Ŋ+ Ŋ -#2!.ĔŊ#-Ŋ 1~2ēŊ Ŋ
gk[ i[ fhefed[ Yh[Wh kd dk[le fWhj_Ze o gk[ i[ efed[ W kd h[# lebkY_ÂŒd [d Hki_W$ ÆJeZWi bWi h[lebkY_ed[i WYW# XWd Yed kd ]hWd Z[hhWcWc_[dje Z[ iWd]h[ o kdW \k[hj[ YW‡ZW Z[ bei d_l[b[i Z[ l_ZW$ Feh [ie" oe [ijeo W \Wleh Z[ bei YWcX_ei [le# bkj_leiÇ" Z_`e$ FhÂŒ`ehel [i [b fh_c[h eb_]WhYW gk[ Z[Y_Z[ c[j[hi[ [d feb‡j_YW Z[iZ[ (&&)" W‹e [d gk[ \k[ Z[# j[d_Ze [b cW]dWj[ f[jheb[he C_# `W‡b @eZehaelia_" gk[ fW]ÂŒ Yed bW Y|hY[b ik Z[Y_i_ÂŒd Z[ Ă’dWdY_Wh W bW efei_Y_ÂŒd Wb Ah[cb_d$
ēŊŊ 1¢).1.5Ŋ"(!#Ŋ04#Ŋ#23;Ŋ Ŋ$ 5.1Ŋ"#Ŋ+.2Ŋ! , (.2Ŋ#5.+43(5.2ēŊ
ĉ
g Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. ÄŒĹ?
#/1#2(¢-Ŋ#-Ŋ (1( Ŋ"#) ŊĊćŊ5~!3(, 2
Ĺ—ĹŠĹŠĹŠ
ĔŊ ŊěŊ7b c[dei )& f[hiedWi \Wbb[Y_[hed [d I_h_W" [djh[ [bbWi kd Y_kZWZWde jkhYe" [d Z_ij_djWi ef[hWY_e# d[i Z[ h[fh[i_ÂŒd bWdpWZWi feh bWi \k[hpWi b[Wb[i Wb hƒ]_c[d Z[ 8WY^Wh Wb 7iWZ" i[]‘d kd ]hkfe efei_jeh$ Bei 9ec_jƒi Z[ 9eehZ_dW# Y_ÂŒd BeYWb _d\ehcWhed [d kd Yeckd_YWZe Z[ gk[ bW e\[di_lW Z[ bWi \k[hpWi Z[ i[]kh_ZWZ YWkiÂŒ (& ck[hjei [d bW fhel_dY_W i[fj[djh_edWb Z[ ?Zb[X" , [d >WcW Y[djhe " ) [d >eci Y[djhe o kde [d :[hWW ikh $
4 31.Ŋ,4#13.2Ŋ/.1 Ŋ#7/+.2(¢-Ŋ#-Ŋ _+%(!
Ĺ—ĹŠ ĹŠĹŠ ĔŊ ŊěŊ7b c[dei YkWjhe f[hiedWi ^Wd ck[hje [d [b WjWgk[ f[hf[jhWZe [d bW Y_kZWZ X[b]W Z[ B_[`W [ij[ Z[b fW‡i " [djh[ [bbWi [b fhef_e Wkjeh Z[ bei ^[Y^ei" i[]‘d [b ‘bj_ce XWbWdY[ h[Ye]_Ze feh bei c[Z_ei X[b]Wi$ BWi Wkjeh_ZWZ[i beYWb[i ^Wd _Z[dj_Ă’YWZe Yece Wkjeh Z[b WjWgk[ W kd ^ecXh[ h[i_Z[dj[ [d B_[`W" DehZ_d[ 7chWd_" gk_[d i[ ^WXh‡W f[]WZe kd j_he [d bW YWX[pW jhWi bWdpWh lWh_ei Whj[\WYjei [nfbei_lei [d kdW Yƒdjh_YW fbWpW Z[ bW Y_kZWZ o WXh_h \k[]e YedjhW bei l_WdZWdj[i Yed kd \ki_b aWbWi^d_ael$
Ä’ĹŠ#7"(1#!3(5.2ĹŠ"# (#,#-2ĹŠ +ĹŠ -04(++.
Ĺ—ĹŠĹŠĹŠ
ĹŠ ĔŊ ŊěŊ LWh_ei [nZ_h[Yj_lei Z[ bW [cfh[iW Wb[cWdW I_[c[di \k[hed WYk# iWZei Wo[h feh bW @kij_Y_W Z[ ;;$KK$ feh ^WX[h fW]WZe c|i Z[ '&& c_bbed[i Z[ ZÂŒbWh[i [d ieXehdei W c_[cXhei Z[b =eX_[hde Wh][dj_de o Wi‡ Yed# i[hlWh kd YedjhWje c_bbedWh_e Yed [i[ fW‡i$ ;b :[fWhjWc[dje Z[ @kij_Y_W Z[ ;;$KK$ o bW <_iYWb‡W Z[b Z_ijh_je ikh Z[ Dk[lW Oeha _d\ehcWhed gk[ ieXh[ bei _cfkjWZei f[iWd YWh]ei Z[ Yedif_hWY_ÂŒd fWhW l_ebWh bW b[o YedjhW bWi fh|Yj_YWi Z[ YehhkfY_ÂŒd Z[ [ij[ fW‡i" Wi‡ Yece \hWkZ[" jhWdi\[h[dY_Wi _b[]Wb[i o bWlWZe Z[ Z_d[he$
ēŊ .2Ŋ1#2! 3(23 2Ŋ-.Ŋ' -Ŋ"#) ".Ŋ"#Ŋ31 ) 1Ŋ4-Ŋ2.+.Ŋ"~ Ŋ#-Ŋ .+., ( ĔŊ"41 -3#Ŋ#23#Ŋ  .ĔŊ Ŋ! 42 Ŋ"#Ŋ +4"#2Ŋ#Ŋ(-4-" Ĺ !(.-#2ēŊ 1!'(5.
0 & ( " ŋ- */&. ŋ ŋÝĀŋ * ,-)( -ŋ (ŋ ,)(. , ŋ(),. 5 !4 -Ŋ ŊĉēćććŊ /#12.- 2Ŋ"#Ŋ2#!Ĺ 3.1#2Ŋ +#"  .2Ŋ Ŋ "#2+(9 ,(#-3.Ŋ#-Ŋ 1( .ēŊ ĔŊ ŊěŊ KdW WlWbWdY^W
YWkiWZW feh kd h‡e h[fh[iWZe WhhWijhÂŒ Wo[h bei Z[ib_pWc_[d# jei [d bei gk[ fkZ_[hed ^WX[h Z[iWfWh[Y_Ze ', YWcf[i_dei Z[ bW pedW hkhWb Z[ BW 9hkp" feXbW# Y_ÂŒd [d DWh_‹e" Z[fWhjWc[dje Z[ bW \hedj[hW ikh Z[ 9ebecX_W Yed ;YkWZeh$ BW Wl[d_ZW [ijWbbÂŒ feYe Wdj[i Z[b c[Z_eZ‡W beYWb o [d c[Z_e Z[ bWi c_icWi YedZ_Y_ed[i Z[ bbk# l_Wi _dj[diWi gk[ eYWi_edWhed bW [c[h][dY_W" gk[ Yec[dpÂŒ [b bkd[i feh bW deY^[ Yed [b fh_# c[he Z[ kdW i[h_[ Z[ jh[i WbkZ[i Z[ j_[hhWi gk[ i[fkbjWhed lWh_Wi YWiWi o eXijhko[hed jWcX_ƒd [b YWkY[ Z[b h‡e CWoe$ Æ;i ZhWc|j_Ye0 [b h‡e WXh_ÂŒ kd Xegk[j[ o WhhWijhÂŒ [b Z[ib_pW# c_[djeÇ" [nfh[iÂŒ feh j[bƒ\ede [b i[Yh[jWh_e Z[ =eX_[hde Z[ DWh_# ‹e" <WX_e Jhk`_bbe$ ;b \kdY_edWh_e WZc_j_ÂŒ Z[iZ[ FWije" bW YWf_jWb Z[fWhjWc[djWb" gk[ dWZ_[ fk[Z[ Z[iYWhjWh gk[ bW WlWbWdY^W Z[b h‡e i[ ^WoW bb[lW#
+4"Ŋ/ 13(¢ŊŊ .+#."4!3.Ŋ8ŊŊ !.-3 ,(-¢Ŋ#+Ŋ %4
ĹŠĹŠ ĹŠ!(4" "ĹŠ!.+., ( - ĹŠ"#ĹŠ ĂŒ!43 ĔŊ Ĺ—"#ĹŠ4-.2ĹŠÄ?ĎēćććŊ' (3 -3#2ĔŊ24$1#ĹŠ
"#2"#Ŋ'.8Ŋ1 !(.- ,(#-3.2Ŋ"#Ŋ %4 Ŋ /.1Ŋ+ Ŋ!.-3 ,(- !(¢-Ŋ"#+Ŋ1~.Ŋ ,/+.Ĺ -(3 Ŋ!.-Ŋ!14".ĔŊ Ŋ!.-2#!4#-!( Ŋ"#Ŋ+ Ŋ 1.341 Ŋ"#Ŋ4-Ŋ.+#."4!3.Ŋ"# (".Ŋ Ŋ4-Ŋ +4"Ŋ.! 2(.- ".Ŋ/.1Ŋ+ 2Ŋ++45( 2ē
2Ŋ 43.1(" "#2Ŋ,4-(!(/ Ĺ +#2Ŋ#234"( -Ŋ+ Ŋ"#!+ 1 !(¢-Ŋ"#Ŋ+ Ŋ +#13 Ŋ1.) Ŋ#-Ŋ+ Ŋ!(4" "ĔŊ! /(3 +Ŋ"#+Ŋ "#/ 13 ,#-3.Ŋ .13#Ŋ"#Ŋ -3 -"#1Ŋ 8Ŋ+(-" -3#Ŋ!.-Ŋ #-#94#+ ĔŊ,(#-31 2Ŋ 3_!-(!.2Ŋ"#Ŋ+ Ŋ ,/1#2 Ŋ .+., ( - Ŋ "#Ŋ #31¢+#.2Ŋĸ !./#31.+ĚŊ31 3 -Ŋ"#Ŋ !.-31.+ 1Ŋ#+Ŋ5#13(".ē
ēŊ 1 ) ".1#2Ŋ(-3#-3 -Ŋ!.-31.+ 1Ŋ4-Ŋ"#11 ,#Ŋ"#Ŋ/#31¢+#.Ŋ"#+Ŋ.+#.Ĺ "4!3.Ŋ  .Ŋ (,¢-Ŋ .5# 2ēŊ
Ze W bWi f[hiedWi ZWZWi feh Z[# fh_lWZe 9WhWYeb J[b[l_i_ÂŒd$ ÆBW WlWbWdY^W i[ bb[lÂŒ bW [i# iWfWh[Y_ZWi feh iki l[Y_dei" gk[ [i bW ‘d_YW l[hi_ÂŒd ieXh[ Yk[bW o W bWi l‡Yj_cWi gk[ [l[djkWb[i l‡Yj_cWi Yed fkZ_[hed gk[ZWh i[fkb# bW gk[ Yk[djWd bWi Wkje# jWZWiÇ" Z_`e H[Wbf[ [d Z[# h_ZWZ[i h[]_edWb[i$ YbWhWY_ed[i feh j[bƒ\ede W [ij[ _d\ehcWj_le$ ;b \kdY_edWh_e \k[
ĹŠ#2!4#+ ĹŠ"#2 / 1#!(¢ " ,-($(! ".2Ä“ c|i [d\|j_Ye [d kd Xh[# ;b WbYWbZ[ Z[ BW 9hkp" 7b[nWdZ[h H[Wbf[" ^WXbÂŒ l[ Z_|be]e j[b[\ÂŒd_Ye jWcX_ƒd ieXh[ bW cW]d_# Yed bW YWZ[dW H9D BW HWZ_e" Wb WZl[hj_h0 Æoe jkZ Z[ [ij[ Z[iWijh[" gk[ #,#1%#-!( 2Ä“ l[e cko feYe fheXW# gk[ZÂŒ h[]_ijhWZe Z[ cW# d[hW fWhY_Wb [d kd l‡Z[e Xb[ bWi fei_X_b_ZWZ[i Z[ ,4-(!(/(.2ĹŠĹŠ WĂ’Y_edWZe Z_\kdZ_Ze feh [dYedjhWh W Wb]k_[d Yed $#!3 ".2Ä“ [b _d\ehcWj_le Z[b YWdWb l_ZWÇ$
Ä?ÄˆÄŽÄ“ÄŽÄ‡Ä‘ĹŠ Ä’ÄŽÄ?ĹŠ
ÄŒÄŽÄ’ĹŠ
+ĹŠ1#2! 3#
C[Z_e Y[dj[dWh Z[ XecX[hei o ieYehh_ijWi Z[ bW 9hkp He`W 9e# becX_WdW 9H9 o bW :[\[diW 9_l_b 9ebecX_WdW :99 " jeZei fheY[# Z[dj[i Z[ FWije" bb[]Whed W Ced# YWoe" bW WbZ[W Z[b Z[iWijh[" fWhW Wikc_h bWi jWh[Wi Z[ X‘igk[ZW o h[iYWj[ Z[ fei_Xb[i l‡Yj_cWi$ JhWi kd ieXh[lk[be W bW pedW" [b ]eX[hdWZeh Z[ DWh_‹e" [b _p# gk_[hZ_ijW 7djed_e DWlWhhe" WZl_hj_Œ Z[ gk[ bWi Yh[Y_[dj[i fki_[hed [d h_[i]e W kdei ($&&& feXbWZeh[i Z[ |h[Wi hkhWb[i [d bWi h_X[hWi Z[b h‡e CWoe$
"60 4ŋ # ŋ+/ ŋ Ą Ąŋ+/# , ŋ ,ŋ )(ŋ ĔŊ ŊěŊ ;b fh[i_Z[dj[ Z[ L[#
d[pk[bW" >k]e 9^|l[p" WZl_hj_ÂŒ Wo[h gk[ ;;$KK$" Wb gk[ Z[Ă’d_ÂŒ Yed [b ÆZ[ced_e cWoehÇ" o iki Wb_WZei fh[j[dZ[d ÆWYWXWhÇ Yed bW EF;F o ef_dÂŒ gk[ bWi WYY_ed[i YedjhW B_X_W o bWi Wc[dWpWi Yed# jhW ?h|d lWd [d [iW Z_h[YY_ÂŒd$ Æ;b _cf[h_e oWdgk_ o iki Wb_W# Zei fh[j[dZ[d W^ehW" ejhW l[p" WYWXWh Yed bW EF;F$ 9bWhe" bW
W]h[i_ÂŒd YedjhW ?hWa" YedjhW B_X_W" YedjhW ?h|d" bWi Wc[dWpWi YedjhW L[d[pk[bW" YedjhW ;YkWZeh" fW‡# i[i Z[ bW EF;F$ ;b f[jhÂŒb[e" fk[iÇ" WĂ’hcÂŒ 9^|l[p ZkhWdj[ [b bWdpW# c_[dje Z[ kdW c_i_ÂŒd Z[ WokZW W f[hiedWi Z[ bW j[hY[hW [ZWZ$ 7bkZ_ÂŒ Wi‡ W bW ',& Yed\[h[dY_W c_d_ij[h_Wb Z[ bW Eh]Wd_pWY_ÂŒd Z[ FW‡i[i ;nfehjWZeh[i Z[ F[jhÂŒb[e EF;F gk[ i[ Y[b[XhW [d L_[dW"
o ZedZ[" i[]‘d [b CWdZWjWh_e" ÆL[d[pk[bW j_[d[ kdW jWh[W gk[ Ykcfb_hÇ$ BW EF;F" fh[eYkfWZW feh bW Yh_i_i Z[ bW Z[kZW Z[ bW pedW [khe" XkiYW [d L_[dW [b Yedi[die fWhW WbYWdpWh kd WYk[hZe ieXh[ ik e\[hjW Yed`kdjW Z[ YhkZe o ik# f[hWh bWi Z_iYh[fWdY_Wi _dj[hdWi gk[ ^_Y_[hed \hWYWiWh ik h[kd_ÂŒd Z[ `kd_e fWiWZe$
ēŊ +Ŋ -" 3 1(.Ŋ5#-#9.+ -.Ŋ (-2(23#Ŋ#-Ŋ!4+/ 1Ŋ"#Ŋ3.".2Ŋ+.2Ŋ, +#2Ŋ Ŋ 2'(-%3.-ēŊ
- / , (Ĺ‹ -* # -Ĺ‹ +/ Ĺ‹3 Ĺ‹ -.6(Ĺ‹ ' ( 4 -ĹŠ 2( ĹŠĹŠ2#ĹŠ' ++ -ĹŠ-4#5.2ĹŠ -(, +#2ĹŠ /#1.ĹŠ,4!'.2ĹŠ"#ĹŠ#23.2ĹŠ2#ĹŠ#-!4#-31 -ĹŠ #-ĹŠ/#+(%1.ĹŠ -3#2ĹŠ"#ĹŠ2 #1ĹŠ04#ĹŠ#7(23#-Ä“ ĹŠ š KdW iWbWcWdZhW fi_YeZƒ#
dW" 9WcXeoW" BWei" JW_bWdZ_W o b_YW" kd bW]Whje ^[cXhW gk[ de L_[jdWc$ h[gk_[h[ Z[ cWY^ei fWhW h[fhe# ZkY_hi[ o kd cede i_d dWh_p ied #+(%1.2ĹŠ Wb]kdWi Z[ bWi dk[lWi [if[Y_[i F[he [ijW h_gk[pW [ij| [d ]hWl[ Z[iYkX_[hjWi [b W‹e fWiWZe [d f[b_]he" Z[ WYk[hZe Wb [ijkZ_e$ bW h[]_ÂŒd Wi_|j_YW YedeY_ZW Yece ÆC_[djhWi gk[ [ijWi [if[Y_[i =hWd C[aed]" i[]‘d kd dk[le ied dk[lWi fWhW bW Y_[dY_W" ckY^Wi [ij|d i_[dZe i[hl_ZWi [ijkZ_e$ ;d fhec[Z_e" kdW dk[lW [i# Yece Y[dW" bkY^WdZe fWhW ie# f[Y_[ \k[ h[]_ijhWZW YWZW Zei Xh[l_l_h [d kd ^|X_jWj YWZW l[p Z‡Wi [d [iW pedW Z[b ikh[ij[ Wi_|# c|i h[ZkY_Ze e Wb XehZ[ Z[ bW j_Ye ZkhWdj[ (&'&" i[‹WbÂŒ [b <ed# [nj_dY_ÂŒdÇ" i[‹WbÂŒ IjkWhj 9^Wf# Ze CkdZ_Wb fWhW bW DWjkhWb[pW cWd" Z_h[Yjeh Z[ MM< fWhW [b MM<" feh iki i_]bWi [d _d]bƒi $ =hWd C[aed]$ BWi (&. [if[Y_[i h[]_ijhWZWi Kd YWie _bkijhWj_le [i [b Z[ bei feh fh_c[hW l[p [d (&'& Z[`Wd bW]Whjei B[_eb[f_i d]elWdjh__" [d [l_Z[dY_W bW [njhWehZ_dWh_W Yecfk[ijei iebe feh [`[cfbWh[i X_eZ_l[hi_ZWZ Z[ bei j[hh_jeh_ei \[c[d_dei gk[ i[ h[fheZkY[d ikhYWZei feh [b h‡e C[aed]" feh YbedWY_ÂŒd$ BW [if[Y_[ \k[ Z[i# gk[ Ă“ko[ feh 8_hcWd_W" 9^_# YkX_[hjW bk[]e Z[ i[h eXi[hlWZW
DE
g Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. ÄŒĹ?
;/(" ĹŠ/_1"(" ĹŠ -ĹŠ#23 ĹŠ1#%(¢-ĹŠ"#+ĹŠ241#23#ĹŠ 2(;3(!.ĹŠ Ĺ—5(5#-ĹŠ +%4- 2ĹŠ"#ĹŠ+ 2ĹŠ#2/#!(#2ĹŠ,;2ĹŠ ,#- 9 " 2ĹŠ"#+ĹŠ/+ -#3 ĔŊ!.,.ĹŠ#+ĹŠ 3(%1#ĔŊ#+ĹŠ#+#$ -3#ĹŠ 2(;3(!.ĹŠ8ĹŠ#+ĹŠ"#+$~-ĹŠ "#ĹŠ 11 6 ""8Ä“ #!(#-3#,#-3#ĔŊ ĹŠ!.-ă1,¢Ŋ + ĹŠ#73(-!(¢-ĹŠ"#+ĹŠ1(-.!#1.-3#ĹŠ"#ĹŠ 5 ĹŠ #-ĹŠ (#3- ,ĹŠ8ĹŠ4- ĹŠ1#"4!!(¢-ĹŠ"1 ,;Äą 3(! ĹŠ"#ĹŠÄ?Ä‡Ĺ˜ĹŠ#-ĹŠ4- ĹŠ"_! " ĹŠ"#ĹŠ+.2ĹŠ 3(%1#2ĹŠ#-ĹŠ#23 ".ĹŠ2(+5#231#2Ä“ #ĹŠ#23(, ĹŠ04#ĹŠ!#1! ĹŠ"#ĹŠÄˆÄ“Ä‡Ä‡Ä‡ĹŠ -4#5 2ĹŠ#2/#!(#2ĹŠ$4#1.-ĹŠ"#2!4 (#1Äą 3 2ĹŠ#-ĹŠ#+ĹŠ 1 -ĹŠ #*.-%ĹŠ#-31#ĹŠÄˆÄ’Ä’Ä?ĹŠ 8ŊĉććÄ?Ä“
feh kd Y_[dj‡ÒYe [d [b c[d‘ Z[ kd h[ijWkhWdj[ l_[jdWc_jW$ 7Z[c|i Z[ bW YWpW \khj_lW" bWi fh_dY_fWb[i Wc[dWpWi fWhW bWi [if[Y_[i [d [ijW h[]_ÂŒd ied bW fƒhZ_ZW Z[ ^|X_jWj" bW Z[\e# h[ijWY_ÂŒd" [b YWcX_e Yb_c|j_Ye o bW [njhWYY_ÂŒd de ikij[djWXb[ Z[ h[Ykhiei dWjkhWb[i$
ēŊ +Ŋ,.-.Ŋ2(-Ŋ- 1(9Ŋ"#Ŋ (1, -( Ŋ#23.1-4" Ŋ!4 -".Ŋ++4#5#ē
ÄŠ
Ä #ĹŠ"(5.1!( -Ä&#x; Ä“ ēĔŊ ĹŠÄ› Kde Z[ bei cW#
Ä Ä€
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
g Ĺ?Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?Ĺ?
(-"2 8ĹŠ2#ĹŠ04(3¢Ŋ+ ĹŠ1./ Ä“ ēŊ ĹŠ I[ WYWXW Z[ Z[l[bWh bW fh_c[hW \eje eĂ’Y_Wb Z[ B_dZ# iWo Be^Wd fWhW FbWoXeo" Yed bW XecXW hkX_W feiWdZe [d Ăˆjefb[iiÉ fWhW bW h[l_ijW [ijW# Zekd_Z[di[$ 9ed [b f[be j[‹_Ze h_pWZe [d edZWi o iki bWX_ei [d he`e _dj[die" bW WYjh_p bkY[ kd [ij_be W be CWh_bod Cedhe[$
;2ĹŠ$.3.2ĹŠ +ĹŠ"#2-4".
;ijW [i iÂŒbe kdW Z[ ckY^Wi _c|][d[i Z[ bW i[i_ÂŒd Z[ \e# jei Z[ FbWoXeo" Wb]kdWi \ejei oW i[ Ă’bjhWhed [d bW h[Z feh be gk[ bW h[l_ijW i[ fkXb_YW Wdj[i Z[ be ^WX_jkWb$ B_dZiWo" gk_[d Wb fWh[Y[h Yedi_]k_ÂŒ kd c_bbÂŒd
Z[ ZÂŒbWh[i fWhW [b j[cW \[ij_# le" jWcX_ƒd Z_e kdW [djh[l_ijW ZedZ[ ^WXbÂŒ Z[ YÂŒce [b i[ne [i fWhj[ Z[ bW dWjkhWb[pW$ ;bbW Z_`e0 Æ;b i[ne o bW i[nkWb_# ZWZ ied fWhj[ Z[ bW dWjkhWb[pW o [ijeo Z[ WYk[hZe Yed bW dWjkhW# b[pW$ 9h[e gk[ CWh_bod Cedhe[ Z_`e Wb]kdW l[p [ije$ ;ijeo jejWb# c[dj[ Z[ WYk[hZe Yed [bbWÇ$ Feh ik fWhj[ [b Zk[‹e Z[ FbW# oXeo" >k]^ >[\d[h" fWh[Y[ [ijWh cko Yedj[dje o [iYh_X_ÂŒ [d ik Jm_jj[h0 ÆB_dZiWo Be^Wd ^Wh| [b f[h\[Yje j[cW Z[ DWl_ZWZ fWhW bei ^ecXh[i [d ik l_ZW" i[W fW# Zh[" ^_`e" [ifeie" del_e" e gk_[d i[WÇ$ ÂĄ
jh_ced_ei c|i [ijWXb[i Z[ >e# bbomeeZ feZh‡W bb[]Wh W ik Ă’d$ >Wo \k[hj[i hkceh[i Z[ gk[ bei WYjeh[i M_bb Ic_j^ o @WZW F_da[jj i[ Z_lehY_Wd Z[ifkƒi Z[ '+ W‹ei `kdjei o Zei ^_`ei [d Yec‘d" @W# Z[d o M_bbem Ic_j^$ I[]‘d bW h[l_ijW IjWh" ^Wd ^[# Y^e l_ZWi feh i[fWhWZe Z[iZ[ ^WY[ Wb]‘d j_[cfe o fWh[Y[ gk[ @WZW lW W ZWh [b fWie Z[Ă’d_j_le o lW W f[Z_h [b Z_lehY_e$ JeZe _dZ_# YW gk[ [b Z[i[dYWZ[dWdj[ i[h‡W gk[ M_bb [ij| Yedj_dkWc[dj[ Z[ Ă’[ijW o [ie de b[ ^WY[ ]hWY_W W bW gk[ [i jeZWl‡W ik ck`[h$
ĹŠ ĹŠ
#04#Â .2ĹŠ/1. +#, 2
Æ;bbei j_[d[d iki fheXb[cWi o Z_iYkj[d Yece YkWbgk_[h ejhW fWh[`W" f[he [ie de gk_[h[ Z[Y_h gk[ i[ lWoWd W Z_lehY_WhÇ" Wi[# ]khÂŒ bW \k[dj[ Z[ bW h[l_ijW IjWh$ O [i gk[ Wb fWh[Y[h iebe i[ jhWjW# h‡Wd Z[ hkceh[i oW gk[ \Wc_b_W# h[i Z[ bW fWh[`W ^Wd Z[ic[dj_Ze [b ^[Y^e Wi[]khWdZe gk[ Æ[ij|d fbWd[WdZe fWiWh kdei Z‡Wi [d kdW [ijWY_ÂŒd Z[ [igk‡Ç$ 7^ehW" Wkdgk[ [b _d\ehcWdj[ ^W Yed\[iWZe gk[ Æde ^Wo gk[ Yh[[h jeZe be gk[ Z_Y[dÇ fk[i M_bb o ik [ifeiW Æde i[ lWd W Z_# lehY_WhÇ" be gk[ Z[ i[]khe ^W Z[# `WZe kdW [if_d_jW Z[ ZkZWi ied bWi \hWi[i0 ÆI_ [ijkl_[hWd [d kdW Yh_i_i i[ fedZh‡Wd [d cWdei Z[ kd Yedi[`[he cWjh_ced_Wb Wdj[i Z[ WYWXWh [d Z_lehY_eÇ$ -3#!#"#-3#2
OW [d eYjkXh[ Z[ [ij[ W‹e" bW h[#
l_ijW ?d JekY^ M[[abo fkXb_YÂŒ kd h[fehjW`[ [d [b gk[ i[ Z[Y‡W gk[ bW fWh[`W ^WX‡W Z[Y_Z_Ze i[fWhWhi[$ Bei hkceh[i i[ [n# j[dZ_[hed Yece bW fÂŒblehW o bei fhejW]ed_ijWi d[]Whed gk[ \k[hW Y_[hje" _dYbkie M_bb Ic_j^ Z[# YbWhÂŒ Ædk[ijhe cWjh_ced_e [ij| _djWYjeÇ$ F[i[ W jeZe" [ijW dej_Y_W ^W iehfh[dZ_Ze W jeZei" ik cWjh_# ced_e fWh[Y‡W _dZ[ijhkYj_Xb[
[" _dYbkie" M_bb o @WZW ^WX‡Wd WÒhcWZe i_d jWfk`ei [d c‘bj_# fb[i eYWi_ed[i gk[ be gk[ ^WY‡W _d\Wb_Xb[ ik cWjh_ced_e [i gk[ ^WX‡Wd WYehZWZe i[h kdW fWh[`W WX_[hjW$ IWX_[dZe [ije o" j[d_[d# Ze [d Yk[djW gk[ bW cWoeh fWhj[ Z[ bei cWjh_ced_ei gk[ ^Wo [d >ebbomeeZ i[ hecf[d feh _dÒ# Z[b_ZWZ[i" de fWh[Y[ Z_\‡Y_b f[d# iWh gk[ i_[cfh[ [ijWh|d j[djWZei feh [b Z_lehY_e$
ĹŠ24ĹŠ#" "ĹŠ8ĹŠ#-ĹŠÄĽ3./+#22ÄŚĹŠ ^ ĔŊ ĹŠÄ› BkY‡W CƒdZ[p ^W
ēŊ Ŋ !31(9Ŋ' 1~ Ŋ% - ".Ŋ4-Ŋ,(++¢-Ŋ"#Ŋ"¢+ 1#2Ŋ/.1Ŋ,.231 1Ŋ242Ŋ #-! -3.2ēŊ
1 ĹŠ"1.% ".
Ĺ—ĹŠ ĹŠĹŠ9^kYa Behh[" [b
YeYh[WZeh Z[ bW i[h_[ ĂˆJme WdZ W ^Wb\ c[dÉ h[l[bÂŒ [d [djh[l_ijW W bW h[l_ijW JL]k_Z[" gk[ 9^Whb_[ I^[[d" W gk_[d Z[if_Z_ÂŒ Z[ bW i[h_[ ^WY[ kdei c[i[i" Yedik# c‡W YeYW‡dW ZkhWdj[ [b heZW`[ Z[b fhe]hWcW$ Behh[ i[‹WbÂŒ gk[ bW Yec[Z_W i[ Z[jkle jhWi bW eYjWlW j[cfehWZW Z[X_Ze Wb YecfehjWc_[dje _hh[]kbWh Z[b WYjeh$
WY[fjWZe feiWh fWhW kdW h[l_i# jW fWhW YWXWbb[hei W iki +, W‹ei" f[he WYbWhW gk[ iebe ^Wh| Ækd je# fb[ii cko i[dikWbÇ o gk[ de i[ Z[idkZWh| feh Yecfb[je$ 7kdgk[ Z[ cec[dje jeZWl‡W i[ [dYk[djhW [d [jWfW Z[ d[]e# Y_WY_ed[i" bW WYjh_p i[ gk_jWh|
.ĹŠ' 1;ĹŠ/#+~!4+
ĹŠ
ŗŊ ŊŊC_jY^ M_d[^eki[" gk_[d fei[[ bei Z[h[Y^ei cki_YWb[i ieXh[ bW eXhW Z[ ik ^_`W 7co" Z_`e Wb Z_Wh_e :W_bo CW_b gk[ dkdYW f[hc_j_h| gk[ iki YWdY_ed[i i[Wd Æb_X[hWZWiÇ$ H[Y_[dj[c[dj[ Y_hYkbWhed hkceh[i Z[ gk[ [b [ndel_e Z[ bW YWdjWdj[" [b Y_d[WijW H[] JhWl_ii" [ijWXW [d Yedl[h# iWY_ed[i fWhW fheZkY_h kdW Y_djW XWiWZW [d bW l_ZW Z[ bW Whj_ijW$
bWi fh[dZWi fWhW YecfbWY[h W bei b[Yjeh[i Z[ bW fkXb_YWY_ÂŒd" de eXijWdj[ W gk[ [d \[Y^Wi h[# Y_[dj[i ^WX‡W Z[iYWhjWZe bW fe# i_X_b_ZWZ Z[ ceijhWh ik Yk[hfe [d kd [ijkZ_e \eje]h|Ă’Ye" feh Yedi_Z[hWh gk[ oW de [ij| [d [ZWZ Wfhef_WZW fWhW [bbe o feh h[if[je W ik ^_`e$
/1#-"(¢Ŋ"#Ŋ 4- Ŋ231(//#1
ĹŠ: ĹŠÄ› BW [ijh[bbW
-ĹŠ$ -ĹŠ/ 1 ĹŠ"ĂŒ.
Ĺ—ĹŠ ĹŠĹŠ@kWd[i _dl_jÂŒ W iki i[# ]k_Zeh[i W fWhj_Y_fWh [d kd YedYkhie fWhW YWdjWh Yed ƒb W Z‘e kde Z[ iki ƒn_jei [d [b [if[Y_Wb Kdfbk]][Z gk[ [b _djƒhfh[j[ ]hWXWh| [d \[Xh[he fhÂŒn_ce fWhW bW YWZ[dW cki_YWb CJL$ Bei \Wd|j_Yei Z[X[h|d [dl_Wh ik _dj[hfh[jW# Y_ÂŒd W kd i_j_e m[X [if[Y_Wb [d bW f|]_dW Z[ CJL$
Z[b fef h[Yk[hZW gk[ ik fWZh[ @e[" kdW l[p" YedjhWjÂŒ W kdW ijh_ff[h fWhW gk[ b[ [di[‹WhW W jeYWh [b f_Wde$ ÆOe b[ ieb‡W Z[Y_h W c_ ik# fk[ijW cW[ijhW0 ÂľFeh gkƒ j_[d[i kdWi k‹Wi jWd bWh]Wi5 O [bbW iebe c[ Z[Y‡W0 ĂˆKd Z‡W oW [dj[dZ[h|i feh gkÂƒĂ‰Ă‡" YedjÂŒ bW YWdjWdj[$
ēŊ Ŋ !31(9Ŋ' Ŋ5(2(3 ".Ŋ !4 ".1Ŋ/ 1 Ŋ' !#12#Ŋ +%4-.2Ŋ1#3.04#2ē
g Ĺ?Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
<JD<I8C;8J HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *-.-$ *.(,$ *.)*$ *.*'$ *.+($ *.+)$*.+*$ *.,* [\ cX :kX% :k\% Ef% **/(*,--'+ g\ik\e\Z`\ek\ X E8IM8<Q : 8 9 I < I 8 # D 8 I @ 8 E 8$ ; < A<JLJ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ( d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (-'- mXcfi )-+#'' [\ cX :kX% :k\% Ef% *(.',)0('+ g\ik\e\Z`\ek\ X I@M<I8 G@:F#J8E;I8$A8:HL<C@E< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& ) d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ,'/ [\ cX :kX% :k\% Ef% *+*+.-*0'+ g\ik\e\Z`\ek\ X 8M<@>8 HL@IFQ# AFI><$ AF<C [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& * d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ,'' [\ cX :kX% :k\% Ef% **+'0.)''+ g\ik\e\Z`\ek\ X 98LK@JK8 D<;@E8#D8I@8$ 8EKFE@<K8 [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& + d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef .-( Xc /-' [\ cX :kX% :k\% Ef% *)-)0'-)'+ g\ik\e\Z`\ek\ X :L<M8 DFP8# AL8E$A8:F9F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& , d^ @D989LI8 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef .'+ mXcfi (,'#'' [\ cX :kX% :k\% Ef% *+'+*,))'+ g\ik\$ e\Z`\ek\ X :?8E> ?L8E> :<;<EF#@M8E$=<IE8E;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& - d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef +0'( [\ cX :kX% :k\% Ef% *('.0'0.'+ g\ik\e\Z`\ek\ X 8ID8J J8E:?<Q#;FI@J$ QF9<@;8 [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& . d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef ('0$((( Xc(*' [\ cX :kX% :k\% Ef% *,'')(.-'+ g\ik\e\Z`\ek\ X :ILQ DFEK<E<>IF#D8I:F$O8$ M@<I [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& / d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (*( Xc (-' [\ cX :kX% :k\% Ef% *+0'0(,.'+ g\ik\e\Z`\ek\ X >L8D8E =CFI<J#AFI><$8C$ J@98I [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& 0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (*( [\ cX :kX% :k\% Ef% *,'+-(,,'+ g\ik\e\Z`\ek\ X IFA8J G89FE# :?I@JK@8E$ G8KI@:@F [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj
-' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& (' d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (-'( [\ cX :kX% :k\% Ef% *+*,0((+'+ g\ik\e\Z`\ek\ X <JK<M<Q IFJ8C<J# =I8E$ :F$D@>L<C [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& (( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef 0(0 [\ cX :kX% :k\% Ef% *('/+/*('+ g\ik\e\Z`\ek\ X GFKFJ@ >L<II<IF#ALC@F$ >LJK8MF [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& () d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef +),' Xc' mXcfi '#'' [\ cX :kX% :k\% Ef% *(',(,/.'+ g\ik\e\Z`\ek\ X :8;<E8 GFJJF#A8@D<$IF;I@>F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (* d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (.') [\ cX :kX% :k\% Ef% *+*,0((+'+ g\ik\e\Z`\ek\ X <JK<M<Q IFJ8C<J# =I8E$ :F$D@>L<C [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& (+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ).*, Xc ).*- [\ cX :kX% :k\% Ef% *(()0*.0'+ g\ik\e\Z`\e$ k\ X K?8D@C@E @EM<IJ@FE<J P :FD<I:@F [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& (, d^
C8K8:LE>8
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef /.0 mXcfi ('%'''#'' [\ cX :kX% :k\% Ef% *(+.*('('+ g\ik\e\Z`\ek\ X :FFG%;< 8?FIIF P :I<;@KF BLCCB@ N8J@ CK; [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& (- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (',( [\ cX :kX% :k\% Ef% *(+'),/('+ g\ik\e\Z`\ek\ X J8E:?<Q P8E<Q# <DD8$ C<FEFI 8ID@;8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (. d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ('0' [\ cX :kX% :k\% Ef% *(+'),/('+ g\ik\e\Z`\ek\ X J8E:?<Q P8E<Q# <DD8$ C<FEFI 8ID@;8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (/ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ((.0 [\ cX :kX% :k\% Ef% *(+'),/('+ g\ik\e\Z`\ek\ X J8E:?<Q P8E<Q# <DD8$ C<FEFI 8ID@;8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )+(, [\ cX :kX% :k\% Ef% *(+',//.'+ g\ik\e\Z`\ek\ X DFJ:FJF LI@9<# ?L>F$ <C@J<F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )' d^
CFA8
HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (+( Xc (,. [\ cX :kX% :k\% Ef%
*+/+0(-('+ g\ik\e\Z`\ek\ X G8CK8E >L8C8E#AFJ<$8E$ KFE@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (.) Xc(0' [\ cX :kX% :k\% Ef% *+/+0(-('+ g\ik\e\Z`\ek\ X G8CK8E >L8C8E#AFJ<$8E$ KFE@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )) d^
CFJ I@FJ
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef //-* mXcfi (/,#/+ [\ cX :kX% :k\% Ef% *(/+0(,('+ g\ik\e\Z`\ek\ X IL@Q >FEQ8C<J#D<I:<;<J$D8$ I@8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )* d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef +.( Xc +.) [\ cX :kX% :k\% Ef% *+.()(*.'+ g\ik\e\Z`\ek\ X :L<M8 E8M8II<K<#8C<O$ =89@8E [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef -., Xc -.. [\ cX :kX% :k\% Ef% *+/.+--0'+ g\ik\e\Z`\ek\ X A8:FD< =<IE8E;<Q#QFI8@;8$:8$ IFC@E8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ), d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ,/) Xc -(' [\ cX :kX% :k\% Ef% *).''++-'+ g\i$ k\e\Z`\ek\ X IF;I@>L<Q FCM<I8#C@M@E>JKFE$8C<$ A8E;IF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )- d^
D8E89@
HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (*)0 mXcfi /*#'' [\ cX :kX% :k\% Ef% *+.*,-(/'+ g\ik\e\Z`\ek\ X ;< C8 :ILQ :8II<EF#M@M@8E8$8C<O8E$ ;I8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ). d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (+' Xc (+( [\ cX :kX% :k\% Ef% *,'(/',0'+ g\ik\e\Z`\ek\ X DFI<@I8 CFFI# D8I@8$ D8I>8I@K8 [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& )/ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (') [\ cX :kX% :k\% Ef% *,'*+*--'+ g\ik\e\Z`\ek\ X G@K8 8IK<8>8#<;;P$I@$ :8IK< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )0 d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (*,, [\ cX :kX% :k\% Ef% *+(*+'()'+ g\ik\e\Z`\ek\ X 98I:@8 HL@D@Q#ALC@F$ :<J8I [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef **, [\ cX :kX% :k\% Ef% *+0-+(*/'+ g\ik\e\Z`\ek\ X PLHL@C<D8 HL@K@F#D8I@8$ :ILQ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i}
i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (0-' [\ cX :kX% :k\% Ef% *+))*+(-'+ g\ik\e\Z`\ek\ X D8:@8J Q8D9I8EF#P@DDP$ FJN8C;F [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& *) d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef */-, Xc*0(- [\ cX :kX% :k\% Ef% *))'.)0)'+ g\ik\e\Z`\ek\ X GFE:< Q8D9I8EF#E8I:@J8$:C<F$ G8KI8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ** d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *0(. Xc *0+- [\ cX :kX% :k\% Ef% *))'.)0)'+ g\ik\e\Z`\ek\ X GFE:< Q8D9I8EF#E8I:@J8$:C<F$ G8KI8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *+ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *0+. Xc*0-' [\ cX :kX% :k\% Ef% *))'.)0)'+ g\ik\e\Z`\ek\ X GFE:< Q8D9I8EF#E8I:@J8$:C<F$ G8KI8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *, d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ,(-$,+) [\ cX :kX% :k\% Ef% *+0.)/..'+ g\ik\e\Z`\ek\ X @EKI@8>F GFE:<#><D8$C@J$ J<K? [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ,'+ [\ cX :kX% :k\% Ef% *+0.)/..'+ g\ik\e\Z`\ek\ X @EKI@8>F GFE:<#><D8$C@J$ J<K? [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *. d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (*( Xc (0' [\ cX :kX% :k\% Ef% *,'(/',0'+ g\ik\e\Z`\ek\ X DFI<@I8 CFFI# D8I@8$ D8I>8I@K8 [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& */ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (,.-- Xc(,.-. [\ cX :kX% :k\% Ef% ***'(*/0'+ g\ik\e\Z`\ek\ X D8:@8J Q8D9I8EF#N@C=I@;F$8E$ KFE@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (0*' [\ cX :kX% :k\% Ef% ***((*','+ g\ik\e\Z`\ek\ X D<CF DFI8E# D8EL<C$K<F$ ;FIF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +' d^
G@:?@E:?8
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (('' [\ cX :kX% :k\% Ef% **/,'/(,'+ g\ik\e\Z`\ek\ X D<C<E;<Q HL@EK8E8# =8LJKF$=<IE8E;F [\c 9Xe$ Zf G`Z_`eZ_X% Hl`\e k\e^X [\$ i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +( d^
444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (('( [\ cX :kX% :k\% Ef% **/,'/(,'+ g\ik\e\Z`\ek\ X D<C<E;<Q HL@EK8E8# =8LJKF$=<IE8E;F [\c 9Xe$ Zf G`Z_`eZ_X% Hl`\e k\e^X [\$ i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (('+ [\ cX :kX% :k\% Ef% **/,'/(,'+ g\ik\e\Z`\ek\ X D<C<E;<Q HL@EK8E8# =8LJKF$=<IE8E;F [\c 9Xe$ Zf G`Z_`eZ_X% Hl`\e k\e^X [\$ i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +* d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (('- [\ cX :kX% :k\% Ef% **/,'/(,'+ g\ik\e\Z`\ek\ X D<C<E;<Q HL@EK8E8# =8LJKF$=<IE8E;F [\c 9Xe$ Zf G`Z_`eZ_X% Hl`\e k\e^X [\$ i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ++ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (+0( Xc(,)' [\ cX :kX% :k\% Ef% *'.0,*-''+ g\ik\e\$ Z`\ek\ X ;@8Q L9@;@8# <DD8$ 8QL:<E8 [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& +, d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (+(*' mXcfi *,-#+' [\ cX :kX% :k\% Ef% *'*/((,('+ g\i$ k\e\Z`\ek\ X :8DGFM<I;< ALD9F# =8LJKF$<=I<E [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (0( mXcfi ,'#'' [\ cX :kX% :k\% Ef% *+/.,.-''+ g\i$ k\e\Z`\ek\ X JLEK8O@ FE8# FC>8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +. d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )(.- mXcfi *)+#'' [\ cX :kX% :k\% Ef% *+'.).'-'+ g\ik\e\Z`\ek\ X 9<E8M@;<J FE8K<#;8I@F A8M@<I$ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +/ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *'. mXcfi -+#/' [\ cX :kX% :k\% Ef% *+/,'0,*'+ g\ik\e\Z`\ek\ X J<IM@:@FJ ;<EK8C<J 8C8M8 8J:8QL$ 9@ J%8% [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +0 d^
J8EKF ;FD@E>F
HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ().( Xc()/' [\ cX :kX% :k\% Ef% *(-'('++'+ g\ik\e\Z`\e$ k\ X I@M8;<E<@I8 8P8C8# QF@C8$D8I>8I@K8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ,' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ('-( Xc (()' [\ cX :kX% :k\% Ef% *+'-(*.+'+ g\ik\e\Z`\e$ k\ X :<;<EF JFCFIQ8EF# :8ICFJ$<EI@HL< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ,( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *0- mXcfi -''#'' [\ cX :kX% :k\% Ef% *+(++)0-'+ g\ik\e\Z`\ek\ X C8I:F DFE$ K<IFJ# :8ICFJ$8E@98C [\c
9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ,) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ++/ [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ,* d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef ).,' [\ cX :kX% :k\% Ef% *+)('/+-'+ g\i$ k\e\Z`\ek\ X :8JK@CCF F I < C C 8 E 8 # A8: @ E KF $ IF $ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ,+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef )0*) [\ cX :kX% :k\% Ef% *+)('/+-'+ g\i$ k\e\Z`\ek\ X :8JK@CCF F I < C C 8 E 8 # A8: @ E KF $ IF $ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ,, d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef -'+ [\ cX :kX% :k\% Ef% *+-)-0)''+ g\ik\e\Z`\ek\ X :LA@C<D8 J@J8#=I8E:@J:8$ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& ,- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef .,' Xc.,( mXcfi '#'' [\ cX :kX% :k\% Ef% *+-)-0)''+ g\ik\e\Z`\ek\ X :LA@C<D8 J@J8#=I8E:@J:8$ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ,. d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ('/0 [\ cX :kX% :k\% Ef% *+*)/0'''+ g\ik\e\Z`\e$ k\ X M<C8JHL<Q :<;<EF# D8I@8$<C<E8 [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& ,/ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ((-) [\ cX :kX% :k\% Ef% *+*)/0'''+ g\ik\e\Z`\e$ k\ X M<C8JHL<Q :<;<EF# D8I@8$<C<E8 [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& ,0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ./) [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& -' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ./' [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& -( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )+, [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& -) d^ 444444
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ),' [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& -* d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (./$(/) [\ cX :kX% :k\% Ef% *+0-0*0+'+ g\ik\e\Z`\ek\ X >FD<Q CC@>L@E#>FEQ8CF$ ?<IE8E [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& -+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ++( [\ cX :kX% :k\% Ef% *+0)'*00'+ g\ik\e\Z`\ek\ X <I8J I8DFE#A<EEP$<JG<$ I8EQ8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& -, d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef .). [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& -- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef .'. [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& -. d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef /'* [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& -/ d^
KLE>LI8?L8
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ())/ [\ cX :kX% :k\% Ef% **-+('(/'+ g\ik\e\Z`\ek\ X D<;@E8 J8E:?<Q# D@CKFE$ N@C=I@;F [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& -0 d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *+( Xc *.' [\ cX :kX% :k\% Ef% *+/,',0''+ g\ik\e\Z`\ek\ X M8CC8;8I<J G8I<;<J# QF@C8$A<8E<K? [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& .' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef (*)( [\ cX :kX% :k\% Ef% *(+/(*')'+ g\i$ k\e\Z`\ek\ X J8E:?<Q J8EK8D8I@8#<;@JJFE$E@$ :FC8J [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& .( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ).. Xc )./ [\ cX :kX% :k\% Ef% *+/.0'(('+ g\ik\e\Z`\ek\ X 8C=8IF 8M@C8#8E><CCP$;F$ D@E@: [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& .) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef *)/ [\ cX :kX% :k\% Ef% *+(.0))''+ g\ik\e\$ Z`\ek\ X >L8PCC8J8:8 ?<I8J#8;I@8E8$8E><C@:8 [\c 9XeZf G`Z_`eZ_X% Hl`\e
Ä Ä
k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& .* d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ,*0 Xc,+' [\ cX :kX% :k\% Ef% *+.'--,('+ g\ik\e\Z`\ek\ X JLG< M@CC8:@J# <;@JFE$ O8M@<I [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& .+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )+0. [\ cX :kX% :k\% Ef% *).)-*'0'+ g\ik\e\Z`\ek\ X 8>L8>L@E8 C@E;F# K<I<$ J8$9<8KI@Q [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& ., d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *,( mXcfi (''#'' [\ cX :kX% :k\% Ef% *)./+*(''+ g\ik\e\$ Z`\ek\ X :8II8EQ8 AFI;8E# <C@E8$G@<;8; [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& .- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef /0-$0)+ [\ cX :kX% :k\% Ef% *+-('*(/'+ g\ik\e\Z`\ek\ X CFG<Q KFII<J# =I8EBC@E$ FIC8E;F [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& .. d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )(( [\ cX :kX% :k\% Ef% *+/*++*/'+ g\ik\e\Z`\ek\ X K@I8;F P8>L8I#C@C@8E$G8$ KI@:@8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ./ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef (*( Xc (0' [\ cX :kX% :k\% Ef% *+0/+)0-'+ g\ik\e\Z`\ek\ X K@I8;F 8>I<;8#J<98JK@8E$@JI8<C [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& .0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef */,, [\ cX :kX% :k\% Ef% *(+/-),,'+ g\ik\e\$ Z`\ek\ X J@E:?@>L8EF ;<=8Q#:<J8I$8;I@8E [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& /' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef *//' [\ cX :kX% :k\% Ef% *(+/-),,'+ g\ik\e\$ Z`\ek\ X J@E:?@>L8EF ;<=8Q#:<J8I$8;I@8E [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& /( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef -*.( Xc-*.+ [\ cX :kX% :k\% Ef% *(+.)+.''+ g\ik\$ e\Z`\ek\ X CC<I<E8 M8C;<Q# CL@J$><ID8E [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& /) d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ()+' [\ cX :kX% :k\% Ef% *(+.)*+*'+ g\ik\e\Z`\ek\ X >L8D8E D@E;@FC8# ILK?$ >8I;<E@8 [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`$ dX glYc`ZXZ`�e% 8:& /* d^ 444444
āĂ
g ŏāąŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
)RUP 3
5(38%/,&$ '(/ (&8$'25 683(5,17(1'(1&,$ '( %$1&26 ,17(1'(1&,$ 1$&,21$/ '( ,167,78&,21(6 ),1$1&,(5$6
%$1&2 352&5(',7 6 $ %$/$1&( &2162/,'$'2 < &21'(16$'2 (1 8 6 '2/$5(6
(17,'$' 2),&,1$ (1
%$1&2 352&5(',7 6 $ 48,72
&2',*2
'(6&5,3&,21
&2',*2 2),&,1$ $f2 0(6 6(37,(0%5( ',$
727$/
)21'26 ',6321,%/(6 &DMD 'HSyVLWRV SDUD HQFDMH %DQFRV \ RWUDV LQVWLWXFLRQHV ILQDQFLHUDV (IHFWRV GH FREUR LQPHGLDWR 5HPHVDV HQ WUiQVLWR 23(5$&,21(6 ,17(5%$1&$5,$6 )RQGRV LQWHUEDQFDULRV YHQGLGRV ,19(56,21(6 3DUD QHJRFLDU GH HQWLGDGHV GHO VHFWRU SULYDGR 3DUD QHJRFLDU GHO HVWDGR R GH HQWLGDGHV GHO VHFWRU S~EOLFR 'LVSRQLEOHV SDUD OD YHQWD GH HQWLGDGHV GHO VHFWRU SULYDGR 'LVSRQLEOHV SDUD OD YHQWD GHO HVWDGR R GH HQWLGDGHV GHO VHFWRU S~EOLFR 'H GLVSRQLELOLGDG UHVWULQJLGD 3URYLVLyQ SDUD LQYHUVLRQHV
&$57(5$ '( &5(',726 &DUWHUD GH FUpGLWRV FRPHUFLDO SRU YHQFHU 'H D GtDV 'H D GtDV 'H D GtDV 'H D GtDV 'H PiV GH GtDV &DUWHUD GH FUpGLWRV GH FRQVXPR SRU YHQFHU 'H D GtDV 'H D GtDV 'H D GtDV 'H D GtDV 'H PiV GH GtDV &DUWHUD GH FUpGLWRV GH YLYLHQGD SRU YHQFHU 'H D GtDV 'H D GtDV 'H D GtDV 'H D GtDV 'H PiV GH GtDV &DUWHUD GH FUpGLWRV SDUD OD PLFURHPSUHVD SRU YHQFHU 'H D GtDV 'H D GtDV 'H D GtDV 'H D GtDV 'H PiV GH GtDV &DUWHUD GH FUpGLWRV FRPHUFLDO UHHVWUXFWXUDGD SRU YHQFHU &DUWHUD GH FUpGLWRV GH FRQVXPR UHHVWUXFWXUDGD SRU YHQFHU &DUWHUD GH FUpGLWRV GH YLYLHQGD UHHVWUXFWXUDGD SRU YHQFHU &DUWHUD GH FUpGLWRV SDUD OD PLFURHPSUHVD UHHVWUXFWXUDGD SRU YHQFHU &DUWHUD GH FUpGLWRV FRPHUFLDO TXH QR GHYHQJD LQWHUHVHV &DUWHUD GH FUpGLWRV GH FRQVXPR TXH QR GHYHQJD LQWHUHVHV &DUWHUD GH FUpGLWRV GH YLYLHQGD TXH QR GHYHQJD LQWHUHVHV &DUWHUD GH FUpGLWRV SDUD OD PLFURHPSUHVD TXH QR GHYHQJD LQWHUHVHV &DUWHUD GH FUpGLWRV FRPHUFLDO UHHVWUXFWXUDGD TXH QR GHYHQJD LQWHUHVHV &DUWHUD GH FUpGLWRV GH FRQVXPR UHHVWUXFWXUDGD TXH QR GHYHQJD LQWHUHVHV &DUWHUD GH FUpGLWRV SDUD OD PLFURHPSUHVD UHHVWUXFWXUDGD TXH QR GHYHQJD LQWHUHVHV &DUWHUD GH FUpGLWRV FRPHUFLDO YHQFLGD &DUWHUD GH FUpGLWRV GH FRQVXPR YHQFLGD &DUWHUD GH FUpGLWRV GH YLYLHQGD YHQFLGD &DUWHUD GH FUpGLWRV SDUD OD PLFURHPSUHVD YHQFLGD &DUWHUD GH FUpGLWRV FRPHUFLDO UHHVWUXFWXUDGD YHQFLGD &DUWHUD GH FUpGLWRV GH FRQVXPR UHHVWUXFWXUDGD YHQFLGD &DUWHUD GH FUpGLWRV SDUD OD PLFURHPSUHVD UHHVWUXFWXUDGD YHQFLGD 3URYLVLRQHV SDUD FUpGLWRV LQFREUDEOHV
'(8'25(6 325 $&(37$&,21(6 &8(17$6 325 &2%5$5 %,(1(6 5($/,=$%/(6 $'-8',&$'26 325 3$*2 3523,('$'(6 < (48,32 27526 $&7,926 ,QYHUVLRQHV HQ DFFLRQHV \ SDUWLFLSDFLRQHV 2WUDV FXHQWDV GH RWURV DFWLYRV 3URYLVLyQ SDUD RWURV DFWLYRV LUUHFXSHUDEOHV
727$/ '(/ $&7,92 *$6726 727$/ *(1(5$/ '(/ $&7,92 < *$6726 '(8'25$6 'HUHFKRV RSHUDFLRQHV 6ZDS $&5(('25$6 )LQDQ]DV \ JDUDQWtDV &UpGLWRV DSUREDGRV QR GHVHPEROVDGRV 2EOLJDFLRQHV SRU RSHUDFLRQHV VZDS 727$/ &8(17$6 &217,1*(17(6 727$/ '( &8(17$6 '( 25'(1
5(38%/,&$ '(/ (&8$'25 683(5,17(1'(1&,$ '( %$1&26 ,17(1'(1&,$ 1$&,21$/ '( ,167,78&,21(6 ),1$1&,(5$6
)RUP 3
&2',*2
,1*5(626 ),1$1&,(526
,17(5(6(6 < '(6&8(1726 *$1$'26
&20,6,21(6 *$1$'$6
,1*5(626 325 6(59,&,26
(*5(626 ),1$1&,(526
,17(5(6(6 &$86$'26
'HSyVLWRV PRQHWDULRV TXH JHQHUDQ LQWHUHVHV
'HSyVLWRV PRQHWDULRV TXH QR JHQHUDQ LQWHUHVHV
'HSRVLWRV PRQHWDULRV GH LQVWLWXFLRQHV ILQDQFLHUDV
&KHTXHV FHUWLILFDGRV
'HSyVLWRV GH $KRUUR
2WURV GHSyVLWRV
'HSyVLWRV SRU &RQILUPDU
'HSyVLWRV D SOD]R
'H D GtDV
'H D GtDV
'H D GtDV
'H D GtDV
'H PiV GH GtDV
'HSyVLWRV GH *DUDQWtD
'HSyVLWRV 5HVWULQJLGRV
23(5$&,21(6 ,17(5%$1&$5,$6
2%/,*$&,21(6 ,10(',$7$6
$&(37$&,21(6 (1 &,5&8/$&,21
&8(17$6 325 3$*$5
2%/,*$&,21(6 ),1$1&,(5$6
9$/25(6 (1 &,5&8/$&,21
2%/,*$&,21(6 &219(57,%/(6 (1 $&&,21(6 <
27526 ,1*5(626 < *$6726 23(5$&,21$/(6
,1*5(626 23(5$&,21$/(6
87,/,'$'(6 ),1$1&,(5$6
27526 ,1*5(626 23(5$&,21$/(6
(*5(626 23(5$&,21$/(6 3(5','$6 ),1$1&,(5$6
*$6726 '( 23(5$&,21
275$6 3(5','$6 23(5$&,21$/(6
'HSUHFLDFLRQHV
$3257(6 3$5$ )8785$ &$3,7$/,=$&,21
27526 3$6,926
727$/ '(/ 3$6,92
&$3,7$/ 62&,$/
&DSLWDO 3DJDGR
5(6(59$6
/HJDOHV
(VSHFLDOHV
27526 $3257(6 3$75,021,$/(6
683(5$9,7 325 9$/8$&,21(6
5(68/7$'26
8WLOLGDGHV R H[FHGHQWHV DFXPXODGRV
3pUGLGDV DFXPXODGDV
8WLOLGDG GHO HMHUFLFLR
727$/ '(/ 3$75,021,2
,1*5(626
727$/ *(1(5$/ '( 3$6,92 3$75,021,2 ( ,1*5(626
$1(;26 &8(17$6 '( 25'(1
'(8'25$6
9DORUHV \ ELHQHV SURSLRV HQ SRGHU GH WHUFHURV
$FWLYRV FDVWLJDGRV
/tQHDV GH FUpGLWR QR XWLOL]DGDV
&DUWHUD GH FUpGLWRV \ RWURV DFWLYRV HQ GHPDQGD MXGLFLDO
,QWHUHVHV FRPLVLRQHV H LQJUHVRV HQ VXVSHQVR
2WUDV FXHQWDV GH RUGHQ GHXGRUDV
$&5(('25$6
9DORUHV \ ELHQHV UHFLELGRV GH WHUFHURV
'HSyVLWRV \ RWUDV FDSWDFLRQHV QR FXELHUWDV SRU OD $*'
'HSyVLWRV GH HQWLGDGHV GHO VHFWRU S~EOLFR
2ULJHQ GHO FDSLWDO
3URYLVLRQHV &RQVWLWXtGDV
,QWHUHVHV SDJDGRV SRU GHSyVLWRV R FDSWDFLRQHV FRQVWLWXLGRV FRPR JDUDQWtD
2WUDV FXHQWDV GH RUGHQ DFUHHGRUDV
%$1&2 352&5(',7 6 $
&2',*2 2),&,1$
%$1&2 %$1&26 352&5(',7 6 $ 35,9$'26 &$3,7$/
&2%(5785$ 3$75,021,$/ '( $&7,926
62/9(1&,$
3$75,021,2 7(&1,&2 6(&81'$5,2 3$75,021,2 7(&1,&2 35,0$5,2
02526,'$' %587$ 727$/
02526,'$' &$57(5$ &20(5&,$/
02526,'$' &$57(5$ &216802
02526,'$' &$57(5$ '( 9,9,(1'$
02526,'$' &$57(5$ '( 0,&52(035(6$
3529,6,21(6 &$57(5$ '( &5(',72 ,0352'8&7,9$
&2%(5785$ '( /$ &$57(5$ &20(5&,$/
&2%(5785$ '( /$ &$57(5$ '( &216802
&2%(5785$ '( /$ &$57(5$ '( 9,9,(1'$
&2%(5785$ '( /$ &$57(5$ '( 0,&52(035(6$
0$1(-2 $'0,1,675$7,92
$PRUWL]DFLRQHV
,1*5(626 < *$6726 12 23(5$&,21$/(6
27526 ,1*5(626 27526 *$6726 < 3(5','$6
,038(672 < 3$57,&,3$&,21 $ (03/($'26
5(68/7$'2 '(/ (-(5&,&,2
3$57,&,3$&,21 75$%$-$'25(6
%$6( ,0321,%/( '(/ ,038(672 $ /$ 5(17$
,038(672 $ /$ 5(17$
5(68/7$'26 $ ',6326,&,21 $&&,21,67$6
3('52 $55,2/$ 5(35(6(17$17( /(*$/
$&7,926 352'8&7,926 3$6,926 &21 &2672 *5$'2 '( $%625&,Ð1 *$6726 23(5$&,21$/(6 0$5*(1 ),1$1&,(52
*$6726 '( 3(5621$/ $&7,926 727$/(6 3520(',2
*$6726 23(5$7,926 $&7,926 727$/(6 3520(',2
0$5*(1 23(5$&,21$/ 1(72
(17,'$' %$1&2 352&5(',7 6 $ 2),&,1$ (1 48,72 0(126
&2',*2 2),&,1$ $f2 0(6 6(37,(0%5( ',$
&DSLWDO SDJDGR
3ULPD HQ FRORFDFLyQ GH DFFLRQHV 5HVHUYD /HJDO 5HVHUYDV JHQHUDOHV 5HVHUYDV HVSHFLDOHV 3DUD IXWXUDV FDSLWDOL]DFLRQHV 2WURV DSRUWHV SDWULPRQLDOHV 8WLOLGDGHV R H[FHGHQWHV DFXPXODGRV VDOGRV DXGLWDGRV
3pUGLGDV DFXPXODGDV VDOGRV DXGLWDGRV
3UpVWDPR VXERUGLQDGR $SRUWHV SDUD IXWXUD FDSLWDOL]DFLyQ
3OXVYDOtD PHUFDQWLO 'HVFXHQWR HQ FRORFDFLyQ GH DFFLRQHV
$
727$/ 3$75,021,2 7(&1,&2 35,0$5,2
3$75,021,2 7(&1,&2 6(&81'$5,2
&2',*2 ² 0$6
'(6&5,3&,21 2EOLJDFLRQHV FRQYHUWLEOHV
'HXGD VXERUGLQDGD D SOD]R
5HVHUYDV HVSHFLDOHV 5HVHUYDV SRU UHYDORUL]DFLyQ GHO SDWULPRQLR UHVHUYDV SRU UHVXOWDGRV QR RSHUDWLYRV VXSHUiYLW SRU YDOXDFLRQHV 8WLOLGDGHV R H[FHGHQWHV DFXPXODGRV
3pUGLGDV DFXPXODGDV
8WLOLGDG GHO HMHUFLFLR
3pUGLGD GHO HMHUFLFLR
,QJUHVRV PHQRV JDVWRV
9$/25
3URYLVLRQHV SDUD FUpGLWRV LQFREUDEOHV 3URYLVLyQ JHQHUDO SDUD FDUWHUD GH FUpGLWRV
0(126 'HILFLHQFLD GH SURYLVLRQHV DPRUWL]DFLRQHV \ GHSUHFLDFLRQHV 3pUGLGDV DFWLYDGDV TXH IXHUHQ GHWHFWDGDV D WUDYpV GH DXGLWRUtDV GH OD SURSLD HQWLGDG GH OD 6XSHULQWHQGHQFLD GH %DQFRV \ 6HJXURV R GH ODV DXGLWRUtDV H[WHUQDV \ HO YDORU GH ORV DXPHQWRV GH FDSLWDO UHDOL]DGRV FRQWUDYLQLHQGR ODV GLVSRVLFLRQHV GHO DUWtFXOR
'LYLGHQGRV SDJDGRV SRU DQWLFLSDGR
%
727$/ 3$75,021,2 7(&1,&2 6(&81'$5,2
& $ %
3$75,021,2 7(&1,&2 727$/
0(126 (O FDSLWDO DVLJQDGR D XQD VXFXUVDO R DJHQFLD HQ HO H[WHULRU /RV UHTXHULPLHQWRV GH SDWULPRQLR WpFQLFR GH ODV HQWLGDGHV TXH GH DFXHUGR FRQ ODV GLVSRVLFLRQHV YLJHQWHV DVt OR UHTXLHUDQ GH DFXHUGR FRQ OD GLVSRVLFLyQ WUDQVLWRULD (O YDORU GH VX SDUWLFLSDFLyQ HQ HO FDSLWDO SDJDGR PiV ODV UHVHUYDV H[FHSWXDQGR ODV SURYHQLHQWHV GH YDOXDFLRQHV GHO DFWLYR HQ XQD LQVWLWXFLyQ VXEVLGLDULD R DILOLDGD ,QYHUVLRQHV HQ RWUDV LQVWLWXFLRQHV GHO VLVWHPD ILQDQFLHUR TXH ODV FRQYLHUWDQ HQ VXEVLGLDULD R DILOLDGD GH GLFKD LQVWLWXFLyQ
/RV VDOGRV UHJLVWUDGRV HQ OD FXHQWD ´$QWLFLSR SDUD DGTXLVLFLyQ GH DFFLRQHVµ FXDQGR FRUUHVSRQGDQ D LQYHUVLRQHV HQ DFFLRQHV DQWLFLSRV HQ OD FDSLWDOL]DFLyQ R FRQVWLWXFLyQ GH FRPSDxtDV VXEVLGLDULDV R DILOLDGDV
' '('8&&,21(6 $/ 3$75,021,2 7(&1,&2 727$/
&$/,'$' '( $&7,926
3URYLVLRQHV
&20,6,21(6 &$86$'$6
5(/$&,21 (175( (/ 3$75,021,2 7(&1,&2 727$/ < /26 $&7,926 < &217,1*(17(6 321'(5$'26 325 5,(6*2 (1 8 6 '2/$5(6
0$5*(1 %5872 ),1$1&,(52
0$5*(1 23(5$&,21$/ $17(6 '( 3529,6,21(6
)RUP 3
5(38%/,&$ '(/ (&8$'25 683(5,17(1'(1&,$ '( %$1&26 ,17(1'(1&,$ 1$&,21$/ '( ,167,78&,21(6 ),1$1&,(5$6
,1',&$'25(6 ),1$1&,(526
3529,6,21 '(35(&,$&,21 $0257,=$&,21
$/ '( 6(37,(0%5( '(/
727$/
'HSyVLWRV D OD YLVWD
&Ð',*2 2),&,1$ $f2 0(6 6(37,(0%5( ',$
2%/,*$&,21(6 &21 (/ 38%/,&2
(67$'2 '( 3e5','$6 < *$1$1&,$6 &2162/,'$'2 < &21'(16$'2 (1 8 6 '2/$5(6 (17,'$' %$1&2 352&5(',7 6 $ 2),&,1$ (1 4XLWR
'(6&5,3&,21
( & '
3$75,021,2 7(&1,&2 &2167,78,'2
$&7,926 < &217,1*(17(6 321'(5$'26 325 5,(6*2
$FWLYRV SRQGHUDGRV FRQ $FWLYRV SRQGHUDGRV FRQ $FWLYRV SRQGHUDGRV FRQ $FWLYRV SRQGHUDGRV FRQ $FWLYRV SRQGHUDGRV FRQ $FWLYRV SRQGHUDGRV FRQ
326,&,21 5(48(5,0,(172 < 5(/$&,21 '( 3$75,021,2 7(&1,&2 * ) [ + ( *
3$75,021,2 7(&1,&2 5(48(5,'2 (;&('(17( 2 '(),&,(1&,$ '( 3$75,021,2 7(&1,&2 5(48(5,'2 $&7,926 727$/(6 < &217,1*(17(6 [
127$6 $/ 3$75,021,2 7e&1,&2
6H FRQVLGHUDUiQ HQ HO SDWULPRQLR WpFQLFR SULPDULR ODV XWLOLGDGHV R SpUGLGDV DFXPXODGDV FXDQGR GHO LQIRUPH GH ORV DXGLWRUHV GH OD 6XSHULQWHQGHQFLD GH %DQFRV \ 6HJXURV \ R GH ORV DXGLWRUHV LQWHUQRV R H[WHUQRV QR VH GHWHUPLQHQ VDOYHGDGHV UHVSHFWR D OD UD]RQDELOLGDG GHO VDOGR GH HVWD FXHQWD \ H[LVWD OD GHFLVLyQ GH OD MXQWD JHQHUDO GH DFFLRQLVWDV R VRFLRV GH TXH GLFKRV UHFXUVRV VHUiQ FDSLWDOL]DGRV 3DUD TXH ORV DSRUWHV SDUD IXWXUDV FDSLWDOL]DFLRQHV IRUPHQ SDUWH GHO SDWULPRQLR WpFQLFR SULPDULR GHEH H[LVWLU FRQVWDQFLD HVFULWD H LUUHYRFDEOH GH ORV DSRUWDQWHV TXH WDOHV UHFXUVRV QR VHUiQ UHWLUDGRV (O VDOGR WRWDO GH ORV GRFXPHQWRV HPLWLGRV VH FRQVLGHUDUi KDVWD HO GHO FDSLWDO \ UHVHUYDV GH OD LQVWLWXFLyQ D OD IHFKD HQ TXH VH FDOFXOD HO SDWULPRQLR WpFQLFR 6H FRQVLGHUDUi HO WRWDO GH ODV XWLOLGDGHV GHO HMHUFLFLR FRUULHQWH XQD YH] FXPSOLGDV ODV FRQGLFLRQHV GH ODV OHWUDV D \ E GHO DUWtFXOR GH OD /H\ *HQHUDO GH ,QVWLWXFLRQHV GHO 6LVWHPD )LQDQFLHUR /D GLIHUHQFLD HQWUH LQJUHVRV PHQRV JDVWRV VH FRQVLGHUDUiQ HQ ORV PHVHV TXH QR FRUUHVSRQGDQ DO FLHUUH GHO HMHUFLFLR 3DUD HO FDVR GH ORV FUpGLWRV FRPHUFLDOHV GH FRQVXPR SDUD OD YLYLHQGD \ PLFURFUpGLWR VH FRQVLGHUDUi OD SURYLVLyQ JHQHUDO FRQ XQ OtPLWH Pi[LPR GH GH GLFKDV RSHUDFLRQHV ´ 3DUD TXH IRUPHQ SDUWH GHO SDWULPRQLR WpFQLFR VHFXQGDULR ORV LQVWUXPHQWRV GH GHXGD VXERUGLQDGD D SOD]R R ORV FRQWUDWRV GH PXWXR FRUUHVSRQGLHQWHV GHEHQ WHQHU XQ SOD]R RULJLQDO PtQLPR GH YHQFLPLHQWR GH PiV GH FLQFR DxRV QR HQFRQWUDUVH JDUDQWL]DGRV \ HVWDU WRWDOPHQWH SDJDGRV HQ HO FDVR GH LQVWUXPHQWRV HPLWLGRV QR VH SXHGH HIHFWXDU HO SDJR GHO SULQFLSDO DQWHV GH VX YHQFLPLHQWR \ DGLFLRQDOPHQWH GHEHQ GHMDU FRQVWDQFLD H[SUHVD TXH FXHQWDQ FRQ OD DXWRUL]DFLyQ GH OD 6XSHULQWHQGHQFLD GH %DQFRV \ 6HJXURV \ OD DFHSWDFLyQ GHO RUJDQLVPR DFUHHGRU 'XUDQWH ORV ~OWLPRV FLQFR DxRV GHO YHQFLPLHQWR GHO SOD]R DO TXH IXHURQ HPLWLGRV R GHO FRQWUDWR GH PXWXR UHVSHFWLYR VH OHV DSOLFDUi XQ IDFWRU GH GHVFXHQWR R DPRUWL]DFLyQ DFXPXODWLYR GH DQXDO (VWRV LQVWUXPHQWRV R FRQWUDWRV QR VH HQFXHQWUDQ GLVSRQLEOHV SDUD SDUWLFLSDU HQ ODV SpUGLGDV GH OD LQVWLWXFLyQ H[FHSWR FXDQGR XQD LQVWLWXFLyQ GHO VLVWHPD ILQDQFLHUR VHD VRPHWLGD D OLTXLGDFLyQ IRU]RVD GRQGH VHUYLUiQ SDUD HQMXJDU ODV SpUGLGDV GH GLFKD OLTXLGDFLyQ (O WRWDO GH LQVWUXPHQWRV UHSUHVHQWDWLYRV GH GHXGD VXERUGLQDGD D SOD]R R GH FRQWUDWRV GH PXWXR SHUWLQHQWHV QR SRGUiQ H[FHGHU GHO GHO SDWULPRQLR WpFQLFR SULPDULR GH OD LQVWLWXFLyQ GHXGRUD GHO VLVWHPD ILQDQFLHUR µ
5(17$%,/,'$'
5(1',0,(172 23(5$7,92 62%5( $&7,92 52$
5(1',0,(172 62%5( 3$75,021,2 52(
/D FDUWHUD FRPHUFLDO YHQFLGD VH UHJLVWUD HQ OD UHVSHFWLYD FXHQWD D ORV GtDV TXH HO GRFXPHQWR VH YHQFLy \ ORV LQWHUHVHV \ FRPLVLRQHV JDQDGRV \ QR FREUDGRV VH UHYHUVDQ GH ODV FXHQWDV GH UHVXOWDGRV D ORV GtDV \ VH UHJLVWUDQ SDUD HIHFWRV GH FRQWURO HQ XQD FXHQWD GH RUGHQ 3DUD HO FDVR GH FXRWDV R GLYLGHQGRV GH OD FDUWHUD FRPHUFLDO \ GH YLYLHQGD YHQFLGDV FRQ JDUDQWtD KLSRWHFDULD VH WUDQVILHUHQ D OD FXHQWD FRUUHVSRQGLHQWH GH YHQFLGR D ORV GtDV SRVWHULRUHV D OD IHFKD GH YHQFLPLHQWR GH OD RSHUDFLyQ VLQ SHUMXLFLR GHO FREUR GH ORV LQWHUHVHV GH PRUD FRUUHVSRQGLHQWHV /D FDUWHUD GH FRQVXPR VH UHJLVWUDUiQ ORV VDOGRV HQ FDUWHUD YHQFLGD D ORV TXLQFH GH VHU H[LJLEOHV \ ODV RSHUDFLRQHV GH PLFURFUHGLWR D ORV FLQFR GtDV /RV LQWHUHVHV \ FRPLVLRQHV VH UHYHUVDQ SRU QR KDEHU VLGR FDQFHODGRV GHQWUR GH ORV GtDV SRVWHULRUHV D VX H[LJLELOLGDG GH SDJR VH UHJLVWUDUiQ SDUD HIHFWRV GH FRQWURO HQ OD VXEFXHQWD GH RUGHQ ,QWHUHVHV HQ VXVSHQVR 9HQFLGRV ,JXDO SURFHGLPLHQWR VH HIHFWXDUi SDUD HO UHYHUVR D ORV GtDV GH ODV FXRWDV R GLYLGHQGRV GH ORV FUpGLWRV GH DPRUWL]DFLyQ JUDGXDO GH OD FDUWHUD FRPHUFLDO \ GH YLYLHQGD D ORV TXLQFH GtDV OD FDUWHUD GH FRQVXPR \ D ORV FLQFR GtDV HQ ODV RSHUDFLRQHV GH PLFURFUpGLWR
/,48,'(=
)21'26 ',6321,%/(6 727$/ '(3Ð6,726 $ &2572 3/$=2
&2%(5785$ 0$<25(6 '(326,7$17(6
&2%(5785$ 0$<25(6 '(326,7$17(6
127$ 7e&1,&$
-8/,2 1$9$6 $8',725 ,17(512
&/$5$ &$5'(1$6 &217$'25$ *(1(5$/ $% FO
āă
g ŏāąŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
% #( ( "%
% #( ( "% &(# % !' ! ! ! "&
&(# % !' ! ! ! "& * & (%"&
% "! !'% # '% "! " ' ! " '"' * "& ' )"& * "!' ! !' & #"! % "& #"% % & " ! ( & " % &
!' ! ! ! "! !&' '( "! & ! ! % &
!' ! " " " ! ! "
" "
& % # "!
'"'
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
" "
" " " ! 9"
&
& % # "!
!25+4 5;,1/,+4
+ -+;=/;+ -86/;-3+5 ?/7-3.+ </ ;/13<=;+ /7 5+ ;/<9/-=3?+ ->/7=+ + 58< .J+< :>/ /5 .8->6/7=8 </ ?/7-3L A 58< 37=/;/</< A -863<387/< 1+7+.8< A 78 -8,;+.8< </ ;/?/;<+7 ./ 5+< ->/7=+< ./ ;/<>5=+.8< + 58< .J+< A </ ;/13<=;+7 9+;+ /0/-=8< ./ -87=;85 /7 >7+ ->/7=+ ./ 8;./7 #+;+ /5 -+<8 ./ ->8=+< 8 .3?3./7.8< ./ 5+ -+;=/;+ -86/;-3+5 A ./ ?3?3/7.+ ?/7-3.+< -87 1+;+7=J+ 2398=/-+;3+ </ =;+7<03/;/7 + 5+ ->/7=+ -8;;/<987.3/7=/ ./ ?/7-3.8 + 58< .J+< 98<=/;38;/< + 5+ 0/-2+ ./ ?/7-363/7=8 ./ 5+ 89/;+-3L7 <37 9/;4>3-38 ./5 -8,;8 ./ 58< 37=/;/</< ./ 68;+ -8;;/<987.3/7=/< + -+;=/;+ ./ -87<>68 </ ;/13<=;+;H7 58< <+5.8< /7 -+;=/;+ ?/7-3.+ + 58< :>37-/ ./ </; /@313,5/< A 5+< 89/;+-387/< ./ 63-;8-;I.3=8 + 58< -37-8 .J+<
8< 37=/;/</< A -863<387/< </ ;/?/;<+7 98; 78 2+,/; <3.8 -+7-/5+.8< ./7=;8 ./ 58< .J+< 98<=/;38;/< + <> /@313,353.+. ./ 9+18 </ ;/13<=;+;H7 9+;+ /0/-=8< ./ -87=;85 /7 5+ <>,->/7=+ ./ 8;./7 C 7=/;/</< /7 <><9/7<8 (/7-3.8< 1>+5 9;8-/.363/7=8 </ /0/-=>+;H 9+;+ /5 ;/?/;<8 + 58< .J+< ./ 5+< ->8=+< 8 .3?3./7.8< ./ 58< -;I.3=8< ./ +68;=3B+-3L7 1;+.>+5 ./ 5+ -+;=/;+ -86/;-3+5 A ./ ?3?3/7.+ + 58< :>37-/ .J+< 5+ -+;=/;+ ./ -87<>68 A + 58< -37-8 .J+< /7 5+< 89/;+-387/< ./ 63-;8-;I.3=8
" "
# '% "! " '8 ! " #% % "
: " #
& % # :! +93=+5 #+1+.8 #;36+ /7 -858-+-387 ./ +--387/< $/</;?+< /1+5/< $/</;?+< /7/;+5/< $/</;?+< <9/-3+5/< #+;+ 0>=>;+< -+93=+53B+-387/< "=;8< 98;=/< #+=;36873+5/< '=353.+./< 8 /@-/./7=/< +->6>5+.8< <+5.8< +>.3=+.8< #I;.3.+< ->6>5+.+< <+5.8< +>.3=+.8< #;I<=+68 <>,8;.37+.8 98;=/< 9+;+ 0>=>;+ -+93=+53B+-3L7 #5><?+5J+ 6/;-+7=35 /<->/7=8 /7 -858-+-3L7 ./ +--387/< $ $ $" $8 " "
9 # #
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
) "%
# '% "! " ' ! " & (! % "
& "
# '% "! " '8 ! " '"'
# '% "! " '8 ! " "!&' '( "
# 5 -+93=+5 +<317+.8 + >7+ <>->;<+5 8 +1/7-3+ /7 /5 /@=/;38; 8< ;/:>/;363/7=8< ./ 9+=;368738 =I-73-8 ./ 5+< /7=3.+./< :>/ ./ +->/;.8 -87 5+< .3<98<3-387/< ?31/7=/< +<J 58 ;/:>3/;+7 ./ +->/;.8 -87 5+ .3<98<3<3-3L7 =;+7<3=8;3+
5 ?+58; ./ <> 9+;=3-39+-3M7 /7 /5 -+93=+5 9+1+.8 6H< 5+< ;/</;?+< /@-/9=>+7.8 5+< 9;8?/73/7=/< ./ ?+5>+-387/< ./5 +-=3?8 /7 >7+ 37<=3=>-3L7 <>,<3.3+;3+ 8 +0353+.+
7?/;<387/< /7 8=;+< 37<=3=>-387/< ./5 %3<=/6+ 3+7+7-3/;8 :>/ 5+< -87?3/;=+7 /7 <>,<3.3+;3+ 8 +0353+.+ ./ .3-2+ 37<=3=>-3L7
8< <+5.8< ;/13<=;+.8< /7 5+ <>,->/7=+ 7=3-398 9+;+ +.:>3<3-3L7 ./ +--387/< ->+7.8 -8;;/<987.+ + 37?/;<387/< /7 +--387/< +7=3-398< /7 5+ -+93=+53B+-3L7 8 -87<=3=>-3L7 ./ -869+KJ+< <>,<3.3+;3+< 8 +0353+.+< % # $" $ $ $
$ & # ( $ $ # " # " " # -=3?8< 987./;+.8< -87
-=3?8< 987./;+.8< -87
-=3?8< 987./;+.8< -87
-=3?8< 987./;+.8< -87
-=3?8< 987./;+.8< -87
-=3?8< 987./;+.8< -87
-=3?8< 987./;+.8< -87
$ $ $ & # ( $ $ # " # " " #
#"& :! % $( % !'" * % :! # '% "! " '8 ! " 6
$" $8 " !% " ' $ $" $8 " !% " $ & # $ $ # ( $ $ # '
! & ! ! %"&
& % # "!
& #' %
# %
25* 5 <+5.8 ./ ;/<>5=+.8< ./5 /4/;-3-38 -8;;/<987./ + 5+ .30/;/7-3+ ./ 58< /5/6/7=8< A <37 :>/ 36953:>/ 5+ 53:>3.+-3M7 ./ 5+< ;/0/;3.+< ->/7=+<
*(5(17( *(1(5$/ ,QJ /HRQDUGR %XUQHR 0XOOHU
"! "% "! # '% "! " '8 ! " '"'
& #' %
" ! ! "
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
" " !'
! " " & ! & ! ! %"&
&' " # % & * ! ! & "!&" " * "! !& " #( "! 1 (& -<0+3.4 !' ! " "
!' % #"%' !' ! " " & #' %
'"'
# % /9L<3=8< + 5+ ?3<=+ /9L<3=8< + 95+B8 / + .J+< / + .J+< / + .J+< / + .J+< / 6H< ./ .J+< /9L<3=8< $/<=;3713.8< # $ # % $ # " " # " # & " # " % $" # # & # $ $ # & $ # +93=+5 9+1+.8 " # "& # /1+5/< <9/-3+5/< $/?+58;3B+-3L7 ./5 9+=;368738 " #% $ # '=353.+./< 8 /@-/./7=/< +->6>5+.8< $ $ $" " # # $ $ " # & $" " # # ' % $ # " % " # -=3?8< -+<=31+.8< "9/;+-387/< +-=3?+< -87 /69;/<+< ?37->5+.+< "=;+< >/7=+< ./ ";./7 />.8;+< " " # "9/;+-387/< 9+<3?+< -87 /69;/<+< ?37->5+.+< $ $ % $ # "
"% ( % "
$8',725 ,17(512 'U -RIIUH <DVEHN *
'"'
& #
$ " $&'$ # &$ "! & ("% # &$ "! " & ! " & ("% #"! $ "% #"$ $ % " # &$ "! " % '! $ " # &$ "! " #$ $ " $ & # "$"% $'& &"& "$"% $& $ " $ "$"% $& $ "!%' " "$"% $& $ ( ( ! "$"% $& $ $" #$ % #$"( % "! % $& $ $ &" #$" ' & ( " $&'$ $& $ " $ " $&'$ $& $ "!%' " " $&'$ $& $ ( ( ! " $&'$ $& $ $" #$ % #$" $ & & ("% #$" ' & ("% # % ("% "! "%&" $ " %"$ "! +<=8< "9/;+-387+5/< +;1/7 37+7-3/;8 %&"% # $%"! & (" &"& #$" " %&"% "# $ & ("% & (" &"& #$" "
" $ $ ! !&" "# $ & (" %" $ & (" $" $ ! !&" %" $ # &$ "! " $" !% ) "! "% %#"! % &"& #"% &"% "$&" # *" "! "% %#"! % #& "! % &"& % " $&'$ )"$ % #"% & !& % " $&'$
)"$ % #"% & !& %
& &' ! "& #% ) "& & #
!25+ 7.3-/< +7>+53B+.8<
:! % & "& (! "
*+0.0+ 3-,05 "*501/4 # +5303-+-3L7 ./ $3/<18< +7-8 ./ 84+ %
&217$'25$ *(1(5$/ /FGD (QD *XHUUHUR 0RUD 5HJ
āą
¡
Ċŋ
?% D8I:<CF D<A@8 I% _d\a`X7cX_fiX%Zfd%\Z
g āąŏ ŏ ŏ ŏĂĀāāŏ
ŏ +. Čŏ
Ġ !(¢ũ4-ũ"~ ũ!.,.ũ'.8ğ
# #ũ /1#-"#1ũ ũ#04(+( 1 1ũ242ũ#,.!(.ı -#2ũ8ũ/#-2 ,(#-3.2ēũ 4ũ(-34(!(¢-ũ#2ũ,48ũ $4#13#ũ8ũ#23 ũ"# #1;ũ#23 1ũ !.,/ " ũ 2(#,/1#ũ"#ũ4-ũ"(2!#1-(,(#-3.ũ "#!4 ".ēũ 4 -".ũ++#%4#ũ ũ#2#ũ#04(+( 1(.ũ "ēũ%.9 1;ũ "#ũ4- ũ/1.$4-" ũ/ 9ũ(-3#1- ēũũ
6Ì0%2/2 '( &$5%212 (67$'2 '( 9(1(=8(/$
$57Ì&8/2 )(0(1,12
0$5683,$/
$8675$/,$12
',26 (1 (/ ,6/$0 '()(&72
ũũ
/,*(52
&,8'$' '( &+,/( 7$&$f2
&,1&8(17$ (1 5Ì2 '( ,7$/,$ 3(5)25$5
&,8'$' '( ,7$/,$
62&,('$'
$326(172
É7202
&,8'$' '( <(0(1
7,=$
6('$17(
+$%,7$5
38(67$
e\ 7c[h_YWÉ" c|i [nWYjWc[dj[ [d C_Wc_" o Z[ fWZ[Y[h [d YWhd[ fhef_W [b Èik[ e Wc[# h_YWdeÉ" [b fkda[je =[hc|d IWdj_W]e 7bWhY d h[]h[iW Wb XWhh_e" i[] d b" W h[Ykf[# hWh ik j[hh_jeh_e [b XWhh_e " ik ^[cXhW @WiXb[_Zo >[_Zo 8[hc Z[p o ik Yh W @edWj^Wd @[i i <eh[he $
3(f$6&2
1,1)$ '( /26
72172 (1
0,125Ì$
$)Ð1,&$
352'8&725 '( (( 88
ĸ, 19.ũĉĈũıũ 1(+ũĈĒĹ 4ũ !3(34"ũ/.2(3(5 ũ8ũ +#%1#ũ2#1;ũ,48ũ 5 +(.2 ũ#-ũ24ũ"#2#,/# .ũ+ .1 +ũ8ũ#-ũ#+ũ ,#).1 ,(#-3.ũ"#ũ24ũ2 +4"ēũ Ėũ /1.5#!'#ũ! " ũ"~ ũ!¢,.ũ4-ũ3#2.1.ũ Ì-(!.ēũ
%2648(6
6(/(&7$
.,&+:$
(6&8&+e /,67$
'$5 (/ 9,(172 (1 81$ &26$
',63(56$ 02/e&8/$
&21)86,Ð1 '( *(17( $/)$
5(32//2
*5$02
$5*2//$ (108'(&(5 20,7,5
7(50,1$&,Ð1 9(5%$/ 6Ì0%2/2 '( 260,2
$352%$&,Ð1
78/&É1
75$163257(
6Ì0%2/2 '(
5Ì2 '( 3(5Ô
/,&25
1(Ð1
1
$
7
,
5
$
5 $ $/7$5
'
2
8
48( 12 (6 (/ 0,602 5('
)
$
0
$
62%(5$12 '(/ $17 (*,372
5
$
$
7
$
%
6
7$%(51$ *,7$12 '(
$ $57( '( 3(6&$
3$/0$ '( ),%5$ 7(;7,/
2
5$=$
&
$
$
$
0
( 48(5(5 2%5$
1 $
$
5
'21$5
$
&
/
$
5
(
1
'
$
5
7
2
3$5(-$
3
$ *
5 0
$
&$0,1$5
$
5 $
$ 1
3,('5$ 6(0,35(&,26$ 21'$
$
35(685$ 38/021$5
6$*5$'2
&
6
(6326$ '( $%5$+$0
$ &
5(*,Ð1
&
0
0$7$5 5(6(6
7(03(5,(
&$8&( $57,), &,$/ '( $*8$
$
$
$
$
0
6 6$%526$
(1)(50('$'
$
$
$1Ð1,0$
0
'$5 &/$5,'$'
$/$%$5
, 6
62&,('$'
$
5
5
5 $
$5*2//$
% %(//$&2 48( 35$&7,&$ /$ 0$*,$
&(5'2
$
5
$
&
)5$*8$5
2
3
,
$
/
%É6&8/$
0$1*2
%,60872
' (67 '( $0e5, &$ '(/ 1257(
$
$6,'(52
5 0$48,1$5
)5(1$5 '(7(1(5
&$17Ð1 '( /2-$
/(&+(
6Ì0%2/2 '(
&
$'25$5
$/)$ &5(0$ '( /$
7
/
75$%$-2
$
0$172 %('8,12
$
5
&(/(%5,'$'(6 8EKFE@F ;< A<JLJ D8I>@C (--. $ (.)D@J@FE<IF =I8E:@J:8EF <JG8zFC% 8LKFI ;< LE ;@::@FE8I@F ;< C<E>L8 @E;à><E8 ;< EL<M8 <JG8z8
$ %25'( ),/2
5
$ +2*$5
$
5 $0$55$5
,
0,6,9$
/
$&75,= %5$6,/(5$ '( /$ 7(/(129(/$ /$ )$925,7$
0$57Ì7,02
3(50,62
$5%8672
6ROXFLyQ DQWHULRU 2
+ũÌ+3(,.ũ'., 1#
6$/8'2 ,1',2
$3Ð&23( '( 0$0É &$0%,$5
$&725 &Ð0,&2
ũũ
1$9(
+,72 %2&,2
+ũ, -ũ#2ũ #1,;-ũ
ĸ$# 1#1.ũĉćũıũ, 19.ũĉćĹũ 23#ũ,.,#-3.ũ/4#"#ũ2#1ũ,48ũ 4#-.ũ / 1 ũ$.1, +(9 1ũ4- ũ1#+ !(¢-ũ $#!3(5 ũ.ũ++#ı 5 1ũ ũ! .ũ4- ũ 2.!( !(¢-ũ!.,#1!( +ēũ .2ũ 24-3.2ũ+#% +#2ũ2#ũ1#24#+5#-ũ ũ24ũ$ 5.1ēũ Ėũ "ēũ3(#-#ũ/."#1ē
$1'$5
&219,&72
/(&+2
5
2 620%5(52 )(0(1,12
62/,7$5,2
2 /
$&&,Ð1 '( /2$5
5
5
$
5
$
5
2
$
$&725 '(/ &,1( < 7(/(9,6,Ð1 '(/ %5$6,/
7 5$7$ (1 '8(f2
7
$
2
,1*/e6
0 2
$
$'9(5%,2 '(
/
$
6
$
5
2
&5202
5
5
$
1
/
,
0
$
3,e/$*2 ',26 '( /26 5(%$f26
1 $
3 &$5&$-($5 $=8&$5,//2 %2/$'2
$
1
$
/
2
*
5
$
/
2
6
$
/87(&,2
$ =
&$17,'$'
7267$5
6 92/&É1 '( &2/20%,$ 9(//Ð1
6Ì0%2/2 '(
6Ì0%2/2 '(
(17(
/(*$/ ),(/
20(*$
'(3$57$0(172 '( 3(5Ô
35,0(5$
352<(&7,/
$),50$&,Ð1
&,8'$' '( %5$6,/
92&$/
%25'( /$'2
2 &$03(6,12
6$%5262
/,&25
3
$ 5 2 +8(/*$ $55$6$5 '(6758,5
/
2
,
(
5
/
$
2
0
$&(,7( 6(0(-$17( 3$5(&,'2
6
35,0(5$ 127$ 086,&$/
3$75,$5&$ '(/ ',/89,2
$6,'(52
3,e/$*2
0$1*2
Ċŋ
ũ:khWdj[ bW feYW Z[ bW ŗũ fhe^_X_Y_ d" kd Y d_Ye o ^|X_b
. +"ũ ,4-"2#-
f_ijeb[he bb[]W W kd fk[Xbe Z[ J[nWi cWd[`WZe feh Zei XWdZWi h_lWb[i$ :[Y_Z_Ze W _cfed[h iki fhef_Wi h[]bWi" e\h[Y[ iki i[hl_Y_ei o cWd_fk# bW W WcXei ]hkfei" Z[iWjWdZe kdW Yhk[djW ]k[hhW$ 8W`e bW Z_h[YY_ d Z[ MWbj[h >_bb o bW WYjkWY_ d Z[ 8hkY[ M_bb_i$
ũ;nfbehWZeh dehk[]e Z[ bWi h[# ŗũ ]_ed[i febWh[i gk[ kd Z W Yece
ĸĈđĐĉıĈĒĉđĹ
^eo Z[ '/'' WbYWdpW [b Febe Ikh [d kdW [nf[Z_Y_ d gk[ kj_b_p jh_d[ei Yed f[hhei ]he[dbWdZ[# i[i$ 7kjeh Z[b b_Xhe È;b Febe Ikh0 kd _d\ehc[ Z[ bW [nf[Z_Y_ d Wdj|hj_YW dehk[]W [d [b È<hWcÉ" '/'&#'/'(É$ <ehc fWhj[ Z[ lWh_Wi hZ[d[i ^edeh ÒYWi de# hk[]Wi o [njhWd`[hWi" [djh[ [bbWi bW =hWd 9hkp Z[ bW EhZ[d Z[ IWd EbW\ '/&, " bW C[ZWbbW Z[b Febe Ikh '/'( o bW C[ZWbbW Wb =hWd C h_je 9 l_Ye$ ;d '/'- h[dkdY_ W iki YedZ[YehWY_ed[i Wb[cW# dWi [d fhej[ijW feh bW ]k[hhW ikXcWh_dW Z[ [i[ fW i$
: ũ }
#./ 1".ũ"#ũ+ 2ũ-(#5#2ũ#-ũ5~ 2ũ"#ũ#73(-!(¢ ËĔũ ũě Kd ]hkfe Yedi[h#
lWY_ed_ijW ^W _d_Y_WZe bW jWh[W Z[ YedjWX_b_pWh bei [`[cfbWh[i gk[ gk[ZWd [d D[fWb Z[b b[efWhZe Z[ bWi d_[l[i" edpW e ]WjefWhZe" [if[Y_[ [d f[b_]he Z[ [nj_dY_ d o [b c|i [igk_le Z[ bei ]hWdZ[i \[b_dei$
;d bW bj_cW [ij_cWY_ d" h[Wb_# pWZW feh [b <edZe CkdZ_Wb fWhW DWjkhWb[pW [d Yeef[hWY_ d Yed bWi Wkjeh_ZWZ[i d[fWb [i" [d [ij[ fW i gk[ZWXWd [d (&&. kdei *&& Z[ bei Wf[dWi *$+&& [`[cfbWh[i gk[ ^WX W [d [b fbWd[jW o bei [nf[h#
jei j[c[d gk[ [b d c[he ^WoW c[d]kWZe$ BW YWpW \khj_lW o [b lWbeh Z[ ik f_[b" gk[ WbYWdpW [d [b c[hYWZe d[]he bei )+ c_b Z bWh[i" Wj[djWd YedjhW ik ieXh[l_l[dY_W$ I[] d [nfb_Y [b _cfkbieh Z[b fheo[Yje" Iec 7b[" Z[ bW eh]Wd_pW# Y_ d 9edi[hlWY_ d Z[b B[efWhZe Z[ bWi D_[l[i" [b Yedjheb i[ XWiW [d bW YebeYWY_ d Z[ Y|cWhWi [d kd |h[W Z[ ,& a_b c[jhei YkWZhWZei" W kdW Wbj_jkZ ikf[h_eh W bei )$&&& c[jhei$ ÆF[he i[ jhWjW Z[b c|i [igk_le Z[
ĸ 1(+ũĉćũıũ, 8.ũĉćĹ "ēũ2#ũ2#-3(1;ũ,;2ũ!#1! -.ũ"#ũ242ũ'().2ēũ (2$143#ũ#23#ũ,.,#-3.ũ"#ũ +#%1~ ũ8ũ$#+(ı !(" "ũ04#ũ+#ũ 1(-" 1;-ũ#++.2ēũ Ėũ #1ũ./3(,(23 ũ-.ũ"#/#-"#ũ"#ũ+ 2ũ!(1!4-2ı 3 -!( 2ũ#73#1- 2ēũũ ũ ĸ, 8.ũĉĈũıũ)4-(.ũĉĈĹ
ũ1#+ !(¢-ũ!.-ũ242ũ/ "1#2ũ3(#-"#ũ ũ ,#).1 1ũ-.3 +#,#-3#ũ+.ũ!4 +ũ1#/#1!43#ũ /.2(3(5 ,#-3#ũ#-ũ#+ũ , (#-3#ũ'.% 1# .ēũ Ėũ 4ũ/ 9ũ8ũ$#+(!(" "ũ"#/#-"#-ũ "#ũ04#ũ24ũ ,.1ũ-4-! ũ2 +% ũ"#ũ5 ! ı !(.-#2ēũ
: ũũ
ĸ)4-(.ũĉĉũıũ)4+(.ũĉĉĹ 42ũ#234"(.2ũ8ũ-#%.!(.2ũ,#).1 -ũ#-ũ%1 -ũ ,#"(" ũ 2~ũ04#ũ"# #1;ũ /1.5#!' 1+.2ēũ 42ũ '#1, -.2ũ2#1;-ũ,;2ũ, "41.2ũ8ũ! 1( .ı 2.2ēũũ ĖũĞ ¢,#+.ũ!.-ũ! +, ĝ
ũũ
}
ĔũćĒĖćć
ũũ
^ ũ
3/$1(7$
&+,12 (6326$ '( $%5$+$0
/
ĸ#-#1.ũĉćũıũ$# 1#1.ũĈĒĹ 4ũ'.% 1Ĕũ242ũ#,.!(.-#2ũ8ũ242ũ5 +.1#2ũ/ ı 2 1;-ũ/.1ũ! , (.2ũ04#ũ"#) 1;-ũ1#-.5 " 2ũ #23 2ũ;1# 2ēũ 4#- ũ2(34 !(¢-ũ#!.-¢,(! ũ "#ũ+ ũ/ 1#) ēũ Ėũ ũ$#+(!(" "ũ#2ũ +.ũÌ-(!.ũ04#ũ#23 ,.2ũ2#%41.2ũ"#ũ/.2##1ũ !4 -".ũ+ ũ'#,.2ũ1#% + ".ēũũ
ũũ
*$%É1
$1Ð1,0$
5(*,Ð1 '( ,7$/,$
ũBk[]e Z[ kdW jehc[djeiW ŗũ jhWl[i W feh bei ÈKd_j[Z IjWj[i
9(//Ð1
$0(5,&,2
325 /$
0$f$1$
ũ ¡ ĔũĉĉĖćć
$121$ '( /$ ,1',$
5Ì2 '(/ (&8$'25 6Ì0%2/2 '(
520$126
$&75,= < 352'8&725$ (67$'281,'(1 6( $/(0$1$
ĸ)4+(.ũĉĊũıũ %.23.ũĉĉĹũ 4ũ2(34 !(¢-ũ#!.-¢,(! ũ2#1;ũ#23 +#ēũ "ēũ /1.5#!' 1;ũ8ũ"(2$143 1;ũ"#ũ+.2ũ (#-#2ũ04#ũ /.2##ũ#-ũ!.,/ ~ ũ"#ũ+ ũ%#-3#ũ04#ũ , ēũ Ėũ .ũ#-) 4+#ũ24ũ!.1 9¢-ē
ũũ
ĸ %.23.ũĉĊũıũ2#/3(#, 1#ũĉĉĹ 4ũ;-(,.ũ2#1;ũ,;2ũ +#%1#ũ8ũ/.2(3(5.ēũ ., 1;ũ!.-ũ, 8.1ũ2#1#-(" "ũ8ũ31 -04(ı +(" "ũ+ 2ũ+(,(3 !(.-#2ũ8ũ/1#.!4/ !(.-#2ēũ Ėũ (" ũ+ 2ũ!.-2#!4#-!( 2ũ"#ũ 242ũ !34 !(.-#2ē
ũũ
ĸ2#/3(#, 1#ũĉĊũıũ.!34 1#ũĉĉĹ
2ũ2(34 !(.-#2ũ "5#12 2ũ' -ũ'#!'.ũ"#ũ "ēũ4- ũ/#12.- ũ,;2ũ$4#13#ũ/#1.ũ3 , (_-ũ ,;2ũ2#-2( +#ũ8ũ04#ũ"(2$143 ũ,4!'.ũ,;2ũ "#ũ+ ũ5(" ēũ Ėũ ¢+.ũ04(#-ũ , Ĕũ #2!4!' ē
ũũ
ĸ.!34 1#ũĉĊũıũ-.5(#, 1#ũĉĈĹũ "ēũ,(1 1;ũ!.-ũ, 8.1ũ./3(,(2,.ũ24ũ $4341.ũ8ũ31 ) 1;ũ$4#13#,#-3#ũ/.1ũ+.%1 1ũ !.-04(23 1ũ242ũ,#3 2ēũ Ėũ 4ũ ,.1ũ,("#ũ24ũ%1 -"#9 ēũ
ũũ
ĸ-.5(#, 1#ũĉĉũıũ"(!(#, 1#ũĉĈĹũ
ũ1#+ !(¢-ũ!.-ũ242ũ24/#1(.1#2ũ8ũ)#$#2ũ 2#1;ũ,4!'.ũ,;2ũ!#1! - ũ8ũ $#!34.2 ēũ +ũ! 1;!3#1ũ"#ũ#23.2ũ2#1;ũ,;2ũ +#%1#ũ8ũ .-" ".2.ēũ Ėũ 4#ũ+ ũ! +, ũ 2# ũ24ũ , (#-3#ũ- 341 +ē
ũũ
bei ]hWdZ[i ]Wjei o de [i \|Y_b Z[ Z[j[YjWh d_ feh c[Z_ei j[Ydeb ]_# YeiÇ" WZl_hj_ 7b[" gk_[d Z[ijWY gk[ ik eh]Wd_pWY_ d ^W _dijhk_Ze W kd ]hkfe Z[ [iYebWh[i fWhW gk[ i[ [dYWh]k[d Z[ Z[iYWh]Wh f[h_ # Z_YWc[dj[ bWi ]hWXWY_ed[i$
ĸ"(!(#, 1#ũĉĉũıũ#-#1.ũĈĒĹ 4ũ2#-2( (+(" "ũ2#1;ũ, 8.1ũ#-ũ#23#ũ/#1~.ı ".ũ/.1ũ+.ũ04#ũ+#ũ$ 5.1#!#ũ+ ũ,#"(3 !(¢-ũ8ũ #+ũ1#+ ) ,(#-3.ũ8 ũ04#ũ+#ũ 84" 1;ũ ũ#-31 1ũ #-ũ!.-3 !3.ũ!.-ũ4"ēũ,(2,.ēũ Ėũ 1 )#ũ!.-ũ3#2¢-ũ8ũ!1# ũă1,#,#-3#ũ04#ũ +.%1 1;ũ+.ũ04#ũ2#ũ/1./.-#ēũ
1!.2ĔŊ#+Ŋļ (1 3 ČŊ"#+Ŋ%.+Ŋ #1-;-Ŋ 1!.2Ŋ#2Ŋ+ Ŋ#2/#1 -9 Ŋ"#Ŋ%.+Ŋ"#Ŋ (% Ŋ"#Ŋ 4(3.ēŊ +Ŋ
ÄĽ (1 3 ČĔŊ!.,.ĹŠ#2ĹŠ!.-.!(".ĹŠ#+ĹŠ"#+ -3#1.ĹŠ 1%#-3(-.ĹŠ/.1ĹŠ+.2ĹŠ "($#1#-3#2ĹŠ#04(/.2ĹŠ#-ĹŠ+.2ĹŠ04#ĹŠ' ĹŠ,(+(3 ".ĔŊ#2ĹŠ! / 9ĹŠ"#ĹŠ' !#1ĹŠ %.+#2ĹŠÄĽ(,/.2( +#2ČēŊ 1!.2ĹŠ!.,#-9¢Ŋ24ĹŠ! 11#1 ĹŠ#-ĹŠÄ‰Ä‡Ä‡ÄŒĹŠ#-ĹŠ ;!(-%ĹŠ 1%#-3(-.ĔŊ2(%4(¢Ŋ/.1ĹŠ 4 1 -~ĹŠ' 23 ĹŠ -!+ 1ĹŠ#-ĹŠ +,#".ĹŠ #-ŊĉććĎēŊ ĹŠ+ ĹŠ2(%4(#-3#ĹŠ3#,/.1 " ĹŠ/ 2¢Ŋ +ĹŠ 231#++ ĹŠ .) ĹŠ8ĹŠĹŠ +4#%.ĹŠ#-ĹŠ 41 !;-ēŊ -ŊĉććđŊ8ŊĉććĒŊ)4%¢Ŋ#-ĹŠ#+ĹŠ#+ĹŠ ' -%';(ĹŠ8ĹŠ '#-9'#-ēŊ -ĹŠÄ‰Ä‡ÄˆÄ‡Ä”ĹŠ!.-ŊĉÄ?ĹŠ  .2Ä”ĹŠÄƒ!'¢Ŋ/.1ĹŠ (% ĹŠ"#ĹŠ 4(3.ĔŊ".-"#ĹŠ!.-2(%4(¢Ŋ 24ĹŠ/1(,#1ĹŠ3~34+.ĹŠ(-3#1Äą - !(.- +Ä–ĹŠ+ ĹŠ #!./ Ä“
Ä Ä†
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
g Ĺ?Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?
Äą ĹŠ
4, .ĹŠ ĹŠ+
!.-04(23
"#ĹŠ4- ĹŠ/1.#9
(% ĹŠ"#ĹŠ 4(3.ĹŠ 42! ĹŠ1#5#13(1ĹŠ# -3( %.ĹŠ+ ĹŠ"#11.3 ĹŠÄ‡ÄąÄˆĹŠ04#ĹŠ345.ĹŠ# .-!( -.ĹŠ -3#ĹŠ+ ĹŠ -(5#12(" "ĹŠ"#ĹŠ '(+#ēŊ
ÂľKjÂŒf_Ye5 I‡$ BWi XW`Wi" WYkckbWY_ÂŒd Z[ fWhj_# Y_hYkdijWdY_W" Wb fkdje gk[ ik Zei o h[ikbjWZe [d YedjhW ^WY[d gk[ [ijW B_]W [gk_fe i[ c[j_ÂŒ [d bWi i[c_\_# :[fehj_lW Kd_l[hi_jWh_W de bb[]k[ Yece [d bWi dWb[i Z[b 9bWkikhW Y^_b[de Yed Wb_d[WY_ed[i Z[ ikfb[dj[i o `k]W# YkWjhe Ă’dWb[i Wdj[h_eh[i gk[ Z_ifkjÂŒ$ >eo" Z[iZ[ bWi '/0'+" [b [gk_fe Z[b ĂˆFWjÂŒdÉ ;Z# Zeh[i `ÂŒl[d[i$ ]WhZe 8WkpW _dj[djWh| [d [b ;ijWZ_e DWY_edWb Z[ IWdj_W]e h[l[hj_h [d &#' [d YedjhW gk[ jkle [d [b 4#5 ĹŠ #5 -!' fWhj_Ze Z[ _ZW Z[ bW Ă’dWb Z[ bW 9efW IkZWc[h_# ;Z]WhZe 8WkpW" :J Z[ B_]W" o @eh][ IWc# fWeb_" [djh[dWZeh Z[ K$ Z[ 9^_b[" lk[bl[d W YWdW Z_ifkjWZe [d FedY_Wde$ FWhW [bbe" 8WkpW WdWb_pW Wb]kdWi Wbj[hdWj_lWi jefWhi[ [d kdW Z[Ă’d_Y_ÂŒd$ BW ^_ijeh_W Z[ B_]W Z[ Gk_je i[h‡W Z_\[h[d# Wdj[ bWi b[i_ed[i Z[ Kb_i[i Z[ bW 9hkp" Dƒ_Y[h H[WiYe o FWjh_Y_e Khhkj_W$ KdW Z[ bWi iehfh[# j[ i_d bei YWf‡jkbei gk[ ^W [iYh_je [b ĂˆFWjÂŒdÉ 8WkpW$ ;b [djh[dWZeh Wh][dj_de bei iWi fk[Z[ i[h [b _d]h[ie Z[ Dƒ_Y[h Wkdgk[ [ije de \k[ YedĂ’hcWZe$ ĈĒĖĈĎ bb[lÂŒ W ieXh[iWb_h [d [b i_ij[cW Z[ `k[]e gk[ fhefed[$ ;i Wi‡ gk[ ÆDe [i \|Y_b" de iecei \Wleh_jei" f[he bb[]ÂŒ W bW Yedgk_ijW Z[b cWoeh be# de i[h‡W bW fh_c[hW l[p gk[ [ij[ ]hkfe c[ ]he Z[ kd YbkX [YkWjeh_Wde0 bW 9efW Z[ck[ijhW [b ^[Y^e Z[ h[l[hj_h i_jkWY_e# 1 -2,(3#Ä–ĹŠ #+# , 9.- 2 8ĹŠ .7ĹŠ /.132 B_X[hjWZeh[i Z[ (&&.$ d[i Yecfb_YWZWiÇ" Z_`e 8WkpW$ @eh][ IWcfWeb_" feh ik fWhj[" ÆGk[ZWd /& c_dkjei" [ijWcei [d Z[i# :1 (31.Ä– [i kd ƒckbe Z[ 8_[biW gk[ ^WbbÂŒ l[djW`W" f[he dei i[dj_cei YWfWY_jWZeiÇ" +ĹŠ 1 2(+# .ĹŠ (+2.-ĹŠ #-#,# [d 9^_b[ bW hkjW Z[b ƒn_je$ 9ed [b Yec[djÂŒ" feh ik fWhj[" >[hd|d 8WhYei$ jƒYd_Ye Wh][dj_de" bW ĂˆKÉ ikcW _d# BW Kd_l[hi_ZWZ Z[ 9^_b[" feh ik fWhj[" `k]Wh| [b fWhj_Ze c|i _cfehjWdj[ Z[ ik ^_ijeh_W" l_YjW )* fWhj_Zei o Wl_pehW ik [d [b gk[ lW jhWi ik fh_c[h j‡jkbe _dj[hdWY_edWb$ fh_c[h j‡jkbe _dj[hdWY_e# 7kdgk[ b[ Z_ifkjW Wb 9ebe 9ebe bW YedZ_Y_ÂŒd dWb" bW 9efW IkZWc[# Z[ YbkX c|i fefkbWh Z[ 9^_b[" ZedZ[ ^W ]WdWZe h_YWdW" ZedZ[ iWb[ '* j‡jkbei beYWb[i" [b fWbcWhƒi Z[ bW ĂˆKÉ [ij| [d Yed l[djW`W$ XbWdYe [d [b WfWhjWZe _dj[hdWY_edWb" Wb YedjhWh_e gk[ ik h_lWb Z[ cW‹WdW" gk[ ^W ]WdWZe YkWjhe j‡jkbei _dj[hdWY_edWb[i$ ÆB_]W b[ ]WdÂŒ W Lƒb[p [d B_d_[hi [d i[c_# Ă’dWb[i o i[h| cko Zkhe fWhW deiejhei$ E`Wb| j[d]Wcei bW fei_X_b_ZWZ Z[ ^WY[h kd fWh# j_Ze [d gk[ [b [gk_fe _cfed]W ckY^e WjWgk[" YedjhW `k]WZeh[i Z[ ckY^W [nf[h_[dY_W" gk[ dei fk[Z[d ZW‹WhÇ" Yec[djÂŒ [b :J @eh][ IWcfWeb_$ Æ;ijeo jhWdgk_be" iƒ gk[ gk_[d `k[]k[ be ^Wh| X_[dÇ" Wi[]khÂŒ [b jƒYd_Ye" gk[ be c|i fheXWXb[ [i gk[ h[f_jW [b edY[ gk[ ]WdÂŒ [d Gk_je bW i[cWdW fWiWZW o Yk# oei `k]WZeh[i b[ ^Wd h[ifedZ_Ze [d jeZW
^
23 "(.ĹŠ !(.- + ĹŠĹŠĹŠĹŠ 4+(.ĹŠ 13~-#9ĹŠ 1;" -.2
Ĺ—ĹŠĹŠ ĖŊĎćēćććŊ#2/#!3 ".1#2 ĹŠĹŠ Ä–ĹŠÄŠĹŠ"#ĹŠ"(!(#, 1#ĹŠ"#ĹŠÄˆÄ’ÄŠÄ‘ĹŠ ŗĸÄ?ÄŠĹŠ  .2Äš Ä– ĹŠĹŠ +ĹŠ 23 "(.ĹŠ !(.- +ĔŊ#+ĹŠ/1(-!(/ +ĹŠ1#Äą Ĺ—!(-3.ĹŠ"#/.13(5.ĹŠ"#ĹŠ '(+#ĔŊ-4-! ĹŠ' ĹŠ2(".ĹŠ #2!#- 1(.ĹŠ"#ĹŠ4-ĹŠ3~34+.ĹŠ(-3#1- !(.- +ĹŠ"#ĹŠ 4-ĹŠ#04(/.ĹŠ!'(+#-.Ä“ ĹŠĹŠ -ĹŠÄˆÄ’Ä?ĊĔŊ+4#%.ĹŠ"#+ĹŠ .+/#ĹŠ"#ĹŠ 23 ".ĹŠ Ĺ—"#+ĹŠÄˆÄˆĹŠ"#ĹŠ2#/3(#, 1#ĹŠ04#ĹŠ"#11.!¢Ŋ +ĹŠ /1#2("#-3#ĹŠ +5 ".1ĹŠ ++#-"#ĔŊ2#ĹŠ43(+(9 Äą 1.-ĹŠ242ĹŠ(-23 + !(.-#2ĹŠ!.,.ĹŠ!#-31.ĹŠ"#ĹŠ "#3#-!(¢-ĹŠ8ĹŠ3.1341 2Ä“
Ä Ä‡
g Ä Ä…Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. ÄŒĹ?
# 43 Ŋ#+Ŋ! ,/#¢-
Ĺ—ĹŠ ĹŠĹŠ;b IWdjei o [b AWi^_mW H[o# ieb i[ [d\h[djWd ^eo [d bW fh_# c[hW i[c_Ă’dWb Z[b CkdZ_Wb Z[ 9bkX[i" Z[iZ[ bWi &+0)&" Yed jeZWi bWi c_hWZWi fk[ijWi [d bW c[Z_|j_YW [ijh[bbW Z[b [gk_fe fWkb_ijW" D[ocWh" gk[ W\hedjW ik fh_c[hW Y_jW eĂ’Y_Wb Z[ WbYWdY[ ]beXWb$
ÄĽ ĹŠÄĽ ÄŚĹŠ3(#-#ĹŠ/1(.1(" "ÄŚ +ĹŠ5.+ -3#ĹŠ#!4 3.1( -.ĹŠ ĂŒ-ĹŠ -.ĹŠ' ĹŠÄƒ1, ".ĹŠ#+ĹŠ!.-31 3.ĹŠ"#ĹŠ !(-!.ĹŠ  .2ĹŠ04#ĹŠ+.ĹŠ5(-!4+ 1~ ĹŠ ĹŠ #/.13(5.ĹŠ 4(3.Ä“ BW YWb_ZWZ o bW ^kc_bZWZ ied YWhWYj[h‡ij_YWi gk[ cWd[`W Bk_i <[hdWdZe IWh_jWcW" gk_[d Z[iZ[ bWi Z_l_i_ed[i _d\[h_eh[i ^W \ehcWZe fWhj[ Z[ bW \Wc_# b_W ĂˆWpkb]hWdWÉ$ Ik fWie feh [b \‘jXeb f[hkWde o c[n_YWde b[ f[hc_j_[hed cWZkhWh Z[feh# j_lWc[dj[" f[he ik ĂˆYb‡cWnÉ Z[# fehj_le be Yedi_]k_ÂŒ [d (&&.$ ;iW j[cfehWZW bb[]ÂŒ Yece WXWdZ[hWZe Z[b YkWZhe Z[ bW ĂˆFbWpW Z[b J[WjheÉ o be]hÂŒ [dYW# c_dWh Wb YbkX W ik j[hY[hW Ye# hedW" bk[]e Z[ *& W‹ei$ <k[ [b XWij_ÂŒd Z[b c[Z_eYWcfe ĂˆY^kbbWÉ [d [iW j[cfehWZW o `kdje W Bk_i 9^[YW o EimWbZe C_dZW \k[hed bW YebkcdW l[hj[XhWb Z[b YkWZhe gk[ [d [i[ [djedY[i be cWd[`WXW 9Whbei I[l_bbW$ Kd W‹e Z[ifkƒi i[ hkcehWXW ik fWhj_ZW W 8WhY[bedW" f[he [b ĂˆIWh_É i[ gk[ZÂŒ fWhW ZWhb[ [b fh_# c[h X_YWcf[edWje Z[ bW ^_ijeh_W W :[fehj_le Gk_je o Z[ic[dj_h
lWh_ei c_jei gk[ j[d‡W [b Ăˆ[gk_fe Z[ bW 9_kZWZÉ" oW gk[ feh fh_c[# hW l[p bb[dÂŒ kd [ijWZ_e [d kdW Ă’dWb$ ;d (&'&" dk[lWc[dj[ hkce# h[i Z[ ik fei_Xb[ fWhj_ZW lebl_[# hed W WikijWh W bW \WdWj_YWZW Z[ bW Ăˆ7A:É" f[he [b YehWpÂŒd ĂˆWpkb# ]hWdWÉ Z[b Ăˆ9Wf_j|d o I‡cXebeÉ lebl_ÂŒ W _dj[hl[d_h fWhW gk[# ZWhi[ Yed bei ĂˆY^kbbWiÉ$ I_d [c# XWh]e" bW YWcfW‹W WbYWdpÂŒ fWhW `k]Wh bW h[f[iYW Z[ bW 9efW B_# X[hjWZeh[i [d (&''$ ;ijW j[cfehWZW" Bk_i <[h# dWdZe IWh_jWcW Whh[]bÂŒ Yed ckY^e j_[cfe Z[ Wdj_Y_fWY_ÂŒd ik Yedj_dk_ZWZ Yed :[fehj_le Gk_je o ^eo bW Z_h_][dY_W b[ ^W ^[Y^e kdW fhefk[ijW Z[ Y_dYe W‹ei Z[ YedjhWje o [b jWb[djeie lebWdj[ j_[d[ bW ‘bj_cW fWbWXhW$ Æ9ece [i Z[ YedeY_c_[dje f‘Xb_Ye bW Z_h[Yj_lW c[ ^_pe kdW fhefk[ijW cko Xk[dW Z[ Y_dYe W‹ei Z[ YedjhWje" f[he [ijeo [i#
1(3 , ĹŠ8ĹŠ
Ŋ Ĺ 1#"#2Ŋ#23 1~ -Ŋ #+Ŋ2; ". ŗŊŊ +Ŋ! /(3;-Ŋļ!'4++ ČĔŊ 4(2Ŋ 1(3 , ĔŊ 1# +(9¢Ŋ 8#1Ŋ31 ).2Ŋ1#%#-#1 3(5.2Ŋ / 1 Ŋ1#!4/#1 12#Ŋ"#Ŋ+ Ŋ!.-31 !341 Ŋ ,42!4+ 1Ŋ04#Ŋ24$1(¢Ŋ#+Ŋ/ 2 ".Ŋ".Ĺ ,(-%.Ŋ -3#Ŋ ,#+#!ē +Ŋ+ 3#1 +Ŋ 4 -Ŋ 1+.2Ŋ 1#"#2ĔŊ /.1Ŋ24Ŋ/ 13#ĔŊ'(9.Ŋ,.5(,(#-3.2Ŋ +(%#1.2Ŋ8Ŋ#2/#1 Ŋ1#/.-#12#Ŋ"#Ŋ+ Ŋ (-Ą , !(¢-Ŋ#-Ŋ24Ŋ1."(++ Ŋ(904(#1" ĔŊ / 1 Ŋ/."#1Ŋ#23 1Ŋ Ŋ+ 2Ŋ¢1"#-#2Ŋ"#+Ŋ Ŋ 1+.2Ŋ 2!'( ē
f[hWdZe W gk[ YedYbkoW [b 9Wc# f[edWje o ieXh[ jeZe Z[ gk[ bWi fhefk[ijWi Z[b [nj[h_eh i[ Yed# Yh[j[dÇ" i[dj[dY_ÂŒ IWh_jWcW$ Dk[lWc[dj[ bei hkceh[i gk[ ĂˆB<I'&É ^W [djWXbWZe Yedl[hiW# Y_ed[i Yed 8WhY[bedW" f[he ejhW l[p [b ĂˆIWh_É be Z[ic_dj_ÂŒ o Z[`ÂŒ YbWhe gk[ [d ;YkWZeh" :[fehj_le Gk_je j_[d[ bW fh_eh_ZWZ$ ÆDe ^[ j[d_Ze Yedl[hiWY_ed[i Yed 8WhY[bedW" Wf[dWi bW i[cWdW fWiWZW ^WXbƒ Yed bW Z_h_][dY_W Z[ :[fehj_le Gk_je o c[ ^_Y_[# hed kdW cko Xk[dW fhefk[ijW" f[he [ijeo YedY[djhWZe [d bW Ă’# dWbÇ" Z_`e$
ēŊ 4(2Ŋ #1- -".Ŋ 1(3 , Ŋ2#Ŋ 1#!4/#1 Ŋ"#Ŋ24Ŋ!.-31 !341 Ŋ,42!4+ 1ē
(- +ĹŠ#-ĹŠ! 2 ĹŠ++#- ÄĽ .!'#ĹŠ , 1(++ ÄŚ
Ĺ—ĹŠĹŠĹŠ
BW Z_h_][dY_W Z[ 8WhY[bedW Ifehj_d] 9bkX Z_e W YedeY[h ^WY[ Wb]kdei Z‡Wi gk[ bW fh[i[djWY_ÂŒd eĂ’Y_Wb Z[b YkWZhe Ăˆ9WdWh_eÉ e ĂˆDeY^[ WcWh_bbWÉ" i[ h[Wb_pWh| [b (+ Z[ [d[he Z[ (&'( [d [b ;ijWZ_e Cedkc[djWb" f[he jeZWl‡W i[ Z[iYedeY[ [b h_lWb gk[ l[dZh| W =kWoWgk_b$
1 9.ĹŠ2#ĹŠ +#) ĹŠ "#ĹŠ 4 8 04(+
ŗŊ ŊŊ;b Z[\[diW Y[djhWb <h_Yaied ;hWpe" Z[ bei h[]_ijhei Z[ ;b DWY_edWb" de ^WXh‡W bb[]WZe W kd WYk[hZe Yed bW Z_h[Yj_lW Z[ 8WhY[bedW fWhW ikcWhi[ [d (&'(" feh be gk[ ^WY[ f[d# iWh gk[ ik \kjkhe [ijWh‡W [d Fehjk]Wb$
ēŊ Ŋ'(-!' " Ŋ"#Ŋ #/.13(5.Ŋ 4(3.Ŋ "04(#1#Ŋ242Ŋ#-31 " 2Ŋ#-Ŋ#+Ŋ +~,Ĺ /(!.Ŋ 3 '4 +/ ē
BW jWhZ[ Z[b bkd[i iWb_[hed ĹŠ Z[b YkWZhe Ăˆ9^kbbWÉ W]ej[ bWi beYWb_ZWZ[i fWhW fhe# W l[dZ[hi[ bWi fh[l[djWi Y[Z[h W iWYWh bWi Xeb[jWi Z[ [djhWZWi fWhW [b Yec# Z[ bW ][d[hWb deheYY_# fhec_ie [djh[ :[fehj_# -ĹŠ! 2.ĹŠ"#ĹŠ04#ĹŠ+ ĹŠ '(-!' " ĹŠÄĽ 94+Äą le Gk_je o ;c[b[Y feh [b %1 - ÄŚĹŠ-.ĹŠ Z[djWb" gk[ [d kd fh_d# "04(#1 ĹŠ+ ĹŠ3.3 Äą YWcf[edWje Z[b \‘jXeb +(" "ĹŠ"#ĹŠ+.2ĹŠ Y_f_e [hWd fWhW bW \WdWj_# [YkWjeh_Wde" [d bWi Xeb[j[# (-%1#2.2ĔŊ+.2ĹŠ YWZW Z[b Ăˆ8ecX_bbeÉ$ $ -;3(!.2ĹŠ"#ĹŠ ;ijW ceZWb_ZWZ" bW h‡Wi Z[b ;ijWZ_e Eb‡cf_Ye ,#+#!ĹŠ/."1;-ĹŠ !.,/1 1ĹŠ+ 2ĹŠ 7jW^kWbfW$ fh[l[djW" i[ [\[YjkWh| #-31 " 2ĹŠ#+ĹŠ5(#1Äą >WijW bWi '+0&& Z[ Wo[h -#2ĹŠ/ 1 ĹŠ#+ĹŠ2#!Äą ^WijW cW‹WdW o [b l_[h# i[ j[d‡W [nf[dZ_ZWi (( c_b 3.1ĹŠ-.1.!!("#-Äą d[i i[ l[dZ[h|d o i[ [d# 3 +Ä“ fh[l[djWi" bWi c_icWi gk[ jh[]Wh|d bWi beYWb_ZWZ[i i[h|d [djh[]WZWi [b l_[h# fWhW [b Yecfhec_ie Z[b d[i o i[ [if[hW gk[ bW ^_dY^WZW i|XWZe$
1!#+.- ĹŠ04(#1#ĹŠ2#1ĹŠ/#-(-24+ 1
ĹŠ ěŊ BW 7ieY_WY_ÂŒd Z[ <‘jXeb Z[b =kWoWi 7IE#= Yed\_hcÂŒ Wo[h bW _dj[dY_ÂŒd Z[ 8WhY[bedW Ifehj_d] 9bkX Z[ Z[# iWĂ’b_Whi[ Z[ iki h[]_ijhei$ @eiƒ @Wl_[h =kWhZ[hWi" fh[i_Z[dj[ Z[ bW [dj_ZWZ fhel_dY_Wb" i[‹WbÂŒ gk[ [b ĂˆĂžZebeÉ jecÂŒ [iW Z[Y_i_ÂŒd feh bei fheXb[cWi Ă’dWdY_[hei gk[ cWdj_[d[ Yed [b eh]Wd_ice$ Æ8WhY[bedW de ^W fh[i[djWZe bW Z[iWĂ’b_WY_ÂŒd$ I_ bW fh[i[djWd j[d[cei gk[ h[if[jWh0 [ij|d [d ik b[]‡j_ce Z[h[Y^e [bbei Z[ je# cWh bW Z[Y_i_ÂŒd bei cej_lei ied Z[ YWh|Yj[h f‘Xb_Yei bWc[dj|d# ZebW" f[he ^WXh‡W gk[ h[if[jWh# bW$ De ^Wd fW]WZe [b Z_d[he gk[ Z[X[d" f[he [ie [i eXij|Ykbei" f[he i‡ ^Wo bWi _dijWdY_Wi h[]bW# c[djWh_Wi ^Wo gk[ [ijkZ_WhbWiÇ" W‹WZ_ÂŒ$ 7kdgk[ bW Z_h_][dY_W ĂˆWcWh_# bbWÉ de ^W YedĂ’hcWZe [ijW _d\eh#
cWY_ÂŒd" i‡ be ^_pe [b j_jkbWh Z[ bW 7ieY_WY_ÂŒd Z[ <‘jXeb Z[ IWdjW ;b[dW" @eiƒ 8ehXeh" gk_[d Z_e Yece kd ^[Y^e YedikcWZe [b h[# ]_ijhe ĂˆYWdWh_eÉ [d bW _dij_jkY_ÂŒd XWbecfƒZ_YW f[d_dikbWh$ CWd_\[ijÂŒ gk[ YkWdZe 8Wh# Y[bedW Z[i[[ `k]Wh [d kd [ijWZ_e Z[ 7ie =kWoWi" bW fhe]hWcWY_ÂŒd i[h| cWd[`WZW feh bW [dj_ZWZ fhe# l_dY_Wb$ ;i Yece ^W ikY[Z_Ze Yed ;ifeb_" gk[ [ij| WĂ’b_WZe W 7<D7 o `k[]W [d IWdje :ec_d]e$ J_[d[ gk[ bb[]Wh W kd WYk[hZe Yed Z_Y^W WieY_WY_ÂŒd fWhW [b kie Z[ [ijWZ_e o fhe]hWcWY_ed[i" [d XWi[ Wb h[]bW# c[dje$ ÆI_ gk_[h[d `k]Wh [d ejhW `kh_iZ_YY_ÂŒd j_[d[d gk[ fW]Wh bei lWbeh[i o h[if[jWh [b i_ij[cW h[]bW# c[djWh_eÇ" WZl_hj_ÂŒ$ ;ij[ Z_Wh_e _dj[djÂŒ Yeckd_# YWhi[ Yed bei Z_h[Yj_lei 7djed_e o Bk_i DeXeW" f[he [ijei dkdYW h[ifedZ_[hed W iki j[bƒ\edei Y[#
bkbWh[i$ I_c_bWh YecfehjWc_[dje [l_Z[dY_Whed bei h[fh[i[djWdj[i Z[b |h[W Z[ fh[diW Z[b YkWZhe ‡Zebe$ =kWhZ[hWi h[_j[hÂŒ gk[ bW Z[k# ZW gk[ cWdj[dZh‡W 8WhY[bedW Yed bW fhel_dY_W" ikf[hWh‡W bei *, c_bbed[i Z[ ZÂŒbWh[i$ 7o[h" h[fh[i[djWdj[i Z[b [gk_# fe ĂˆYWdWh_eÉ" [if[hWXWd h[Wb_pWh bW f[j_Y_ÂŒd \ehcWb Wdj[ [b fb[de Z[ bW <[Z[hWY_ÂŒd ;YkWjeh_WdW Z[ <‘jXeb" <;< [d kdW h[kd_ÂŒd eh# Z_dWh_W Z[b 9ec_jƒ ;`[Ykj_le$ I[]‘d bei Z_h[Yj_lei" [b YWcX_e Z[ 7ieY_WY_ÂŒd W\[YjWh‡W iebWc[dj[ W bW eXb_]WY_ÂŒd Z[b YbkX Z[ [djh[]Wh fWhj[ Z[ ik jWgk_bbW [d YWZW fWhj_# Ze o de YWcX_Wh‡W bW i[Z[ Z[b fbWd# j[b jeh[he" gk[ `k[]W Z[ beYWb [d [b ;ijWZ_e Cedkc[djWb$ JWcX_ƒd ^W jhWiY[dZ_Ze gk[ bei ^[hcWdei Z[Y_Z_[hed YWc# X_Wh Z[ h[]_ijhe" c_[djhWi jWdje
ēŊ +Ŋļ - 1(.ČŊ04(#1#Ŋ /#13#-#!#1Ŋ Ŋ -3 Ŋ +#- ē
Zkh[ bW fh[i_Z[dY_W Z[ @eiƒ =kWh# Z[hWi" [d bW 7ie#=kWoWi$ I[ iWX[ gk[ [n_ij_h‡W kdW l_[`W h_lWb_ZWZ feh YkWdje [ij[ Z_h_][dj[ \ehcŒ fWhj[ Z[b [gk_fe gk[ _dj[]hŒ [b Z_h[Yjeh_e Z[ ;ZkWhZe CWhkh_ [d 8WhY[bedW$ :[ _]kWb \ehcW" ^Wo gk_[d[i Yedi_Z[hWd gk[ bei fheXb[cWi f[hiedWb[i" Z[ [n_ij_h [djh[ 8Wh# Y[bedW o bW Z_h_][dY_W Z[ 7ie# =kWoWi" de fk[Z[d fed[h Z[ feh c[Z_e W bW _dij_jkY_Œd ]kWoWgk_# b[‹W" _diYh_jW [d bW fhel_dY_Wb Z[iZ[ bW ZƒYWZW Z[b +&$
g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
Ä Äƒ
1#2ĹŠ! -"(" 3.2ĹŠ /.1ĹŠ#+ĹŠ31.-.
Ĺ—ĹŠĹŠ
.+#2ĹŠ8ĹŠ#,.!(.-#2
BW fh[i_Z[dY_W Z[ bW <[# Z[hWY_ÂŒd Z[ B_]Wi 8Whh_Wb[i Z[ ?cXWXkhW Z[il[bW W jh[i YWdZ_ZWjei$ CWhbed 7YeijW feh bW h[[b[YY_ÂŒd1 <[hdWdZe 9^[YW Z[ B_]W 7bfWY^WYW o 7dZhƒi F[‹WĂ’ [b feh BWi FWb# cWi" ied bei decXh[i gk[ ik[dWd [d bWi dk[l[ b_]Wi XWhh_Wb[i WfjWi fWhW [b leje$
ēŊ .8ĹŠ 11 -! -ĹŠ+.2ĹŠ/ 13(".2ĹŠ2#,(ÄƒĹŠ- +#2ĹŠ"#+ĹŠ! ,/#.- 3.ĹŠ(-3#1#2!.+ 1ĹŠ"#ĹŠ$ĂŒ3 .+Ä“
."#+.ĔŊ #.".1.ĔŊ .-Ŋ .2!.Ŋ3(#-#Ŋ#+Ŋ/+42Ŋ"#Ŋ $ 5.1(3.2Ŋ/ 1 Ŋ +9 1Ŋ+ Ŋ!.1.- ēŊ (-Ŋ#, 1%.Ŋ - " Ŋ#23;Ŋ"(!'.ē ŊěŊEY^e [iYk[bWi Yedj_d‘Wd
"ľĉĊĒĎÄ?Äľ (
[d YWc_de feh [b _dj[h[iYebWh Z[ \kjXeb iWbW$ BW `ehdWZW Z[ Wo[h \k[ ZhWc|j_YW [d bei Yeb_i[ei Z[ IWd 7djed_e o Z[b L‡Yjeh CWdk[b =kpc|d$ ;b dk[le cedWhYW Z[b Y[hjWc[d i[ YedeY[ [b l_[hd[i$ BW `ehdWZW Z[ Wo[h jkle Z[
jeZe$ Bei heijhei Z[ jh_ij[pW i[ [l_Z[dY_Whed [d lWh_ei `k]WZe# h[i Z[ bei fbWdj[b[i [b_c_dWZei$ ÆGk[h‡W i[]k_h `k]WdZe$ C[ leo Wf[dWZe [hW c_ fh_c[h jehd[eÇ" Z_`e Yed bW jh_ij[pW Z[b YWie 8h# oWd Fƒh[p Z[ bW [iYk[bW 7b\h[Ze Fƒh[p =k[hh[he gk[ \k[ [b_c_dW#
ZW [d fh_c[h hedZW$ BW [iYk[bW (. Z[ WXh_b de jkle fheXb[cW Wb]kde fWhW ikf[hWh .#) W ik h_lWb HW\W[b IkWh[p$ BWi Zkfb[jWi Z[ ;b_|d @_cƒd[p o 8ohed 7hY[ \k[hed ]hWl_jWdj[i fWhW c[hcWh [b |d_ce [d iki efed[dj[i gk[ \k[hed kd Ăˆ^k[ie
Zkhe Z[ he[h fWhW bei XbWdgk_he# `ei$ 8hoWd 8_bbWbXW" CWj[e >[# hh[hW" 7dj^edo <beh[i o FWXbe 8_bbWblW Yecfb[jWhed [b heiWh_e Z[ ]eb[i fWhW bei ]WdWZeh[i$ BWi jh[i Yedgk_ijWi Z[b Z[iYk[dje bb[]Whed feh _dj[hc[Z_e Z[ L‡Y# jeh 9WhZedW [d Zei eYWi_ed[i o FWkb BkY[he$ ;d [b i[]kdZe Yecfhec_ie :ed 8eiYe l[dY_Œ +#& W bW L‡Yjeh CWdk[b F[‹W^[hh[hW$ @eiƒ Je# XWh" 9Whbei 7YeijW o 7h_[b 8Wij_# ZWi Yedl_hj_[hed bWi WdejWY_ed[i fWhW [b YkWZhe ]WdWZeh$
ļ 43~-ČĔŊ/."1~ Ŋ 2#1Ŋļ3 + "1.Č
Ĺ—ĹŠĹŠĹŠ
;b lebWdj[ _cXWXkh[‹e @e# Ăľ h[ =k[hhÂŒd gk_[d i[ [dYk[d# jhW Z[ lWYWY_ed[i [d [b fW‡i" feZh‡W [ijWh l_dYkb|dZei[ Wb Yed`kdje Wh][dj_de 8WdĂ’ [bZ" i[]‘d Z[jWbbW kdW dej_Y_W Z[b fehjWb Wh][dj_de mmm$eb[$ Yec$Wh$ ÆFeh W^ehW de i[ dWZW$ JeZe [ij| [d cWdei Z[ c_ [c# fh[iWh_e Wi[]khÂŒ [b `k]WZeh Z[ ;b @kdYWbÇ" l‡W j[b[\ÂŒd_YW fWhW [ij[ hejWj_le$
Ä Ä…
g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
(% ĹŠ"#/.13(5 ĹŠ #7(%(" ĹŠ ĹŠ 1#/#3(1ĹŠ 31;,(3#2 Bei ZeYkc[djei Z[ bW B_]W :[fehj_lW 9WdjedWb Z[ 7d# jed_e 7dj[ de WfWh[Y[d1 Wi‡ be [nfb_YW @kWd 9Whbei Ehj_p" fh[i_Z[dj[ Z[ bW [dj_ZWZ$ 7Z[c|i _dZ_YW gk[ Wo[h fh[# i[djÂŒ dk[lWc[dj[ bW YWhf[jW Yed bei [ijWjkjei h[\ehcWZei$ Ehj_p Z[X[ [if[hWh jh[i Z‡Wi fWhW gk[ [b jh|c_j[ Z[ Wfhe# XWY_ÂŒd i[ [`[Ykj[$ I_d [cXWh]e ƒb i[ ck[ijhW [iYƒfj_Ye \h[dj[ W [ijW fei_X_# b_ZWZ$ ÆI_dY[hWc[dj[ de Yh[e gk[ [ije i[ fk[ZW ZWh [d jWd Yehje j_[cfeÇ" Yec[djW [b Z_# h[Yj_le$ 7Z[c|i Wh]kc[djW gk[ [i YWi_ _cfei_Xb[ h[Y_X_h bWi Wi_]dWY_ed[i fh[ikfk[i# jWh_Wi$ ;b fbWpe fWhW b[]Wb_pWh jeZe j[hc_dW cW‹WdW o [b ‘b# j_ce fWie [i h[Wb_pWh bWi [b[Y# Y_ed[i Z[ bW dk[lW Z_h[Yj_lW$
ēŊ 4 -Ŋ 1+.2Ŋ 13(9Ŋ(-"(! Ŋ 04#Ŋ/#1"#1~ -Ŋ+ 2Ŋ 2(%- !(.-#2ĔŊ#-Ŋ ! 2.Ŋ"#Ŋ!.,/+#3 12#Ŋ#+Ŋ31;,(3#ēŊ 23 Ŋ(-$.1, !(¢-Ŋ+ Ŋ. 345.Ŋ#-Ŋ#+Ŋ (-(23#1(.Ŋ"#Ŋ #/.13#2ē
#!(2(¢-Ŋ4-;-(,#
ēŊ Ŋ/1#2#-!( Ŋ"#Ŋ 43.1(" "#2Ŋ"#+Ŋ"#/.13#ĔŊ#-31#Ŋ#++.2Ŋ 41(!(.Ŋ 1%4#++.ĔŊ/1#2("#-3#Ŋ"#Ŋ #"#1 !(¢-Ŋ #/.13(5 Ŋ"#Ŋ , 41 Ŋ+#Ŋ"(#1.-Ŋ2.+#,-(" "Ŋ +Ŋ #5#-3.ē
423.ĹŠ - -%.-¢Ŋ$4#ĹŠ-.,(- ".ĹŠ!.,.ĹŠĂŒ-(!.ĹŠ ! -"(" 3.ĹŠ ĹŠ+ ĹŠ/1#2("#-!( ĹŠ"#ĹŠ+ ĹŠ+(% ĹŠ"#/.13(Äą 5 ĹŠ! -3.- +ĹŠ"#ĹŠ 1!404~ēŊ ěŊ;b WYje [b[YY_edWh_e \k[
Wj‡f_Ye" jeZei fWh[Y‡Wd f[diWh _]kWb" de ^kXe bWi _dj[hc_dW# Xb[i Z_iYki_ed[i Z[ kdW [b[Y# Y_ÂŒd Yec‘d$ BW WiWcXb[W fWhW [b[]_h Wb dk[le Z_h[Yjeh_e Z[ b_]W Z[fehj_lW khYkgk_h[‹W Ye# c[dpÂŒ W bWi '-0 (&$ :_[p YbkX[i WlWbWZei feh bW B_]W YWdjedWb o bW <[Z[hWY_ÂŒd :[fehj_lW Z[ ?cXWXkhW \k[hed fWhj[ Z[ bWi [b[YY_ed[i$ :[ifkƒi Z[b iWbkZe fheje# YebWh_e o bW l[h_Ă’ YWY_ÂŒd Z[ bWi WYh[Z_jWY_ed[i" bei Wi_ij[dj[i f_Z_[hed Zei c_dkjei Z[ h[Y[#
ie" j_[cfe ikĂ’ Y_[dj[ fWhW gk[ jeZei i[ fki_[hWd Z[ WYk[hZe$ BW fh_c[hW ceY_ÂŒd \k[ bW YWd# Z_ZWjkhW Z[ 7dWd]edÂŒ1 dWZ_[ ceY_edÂŒ W ejhe YWdZ_ZWje" fk[i [b Wfeoe fWhW [b WYjkWb fh[i_# Z[dj[ \k[ jejWb$ Be c_ice fWiÂŒ [d bWi Z[c|i Z_]d_ZWZ[i$ 1 ).2ĹŠ#23 +#!(".2 ;b Z_h[Yjeh_e W bW YWX[pW <Wki# je 7dWd]edÂŒ" fhe\[i_edWb [d [b |h[W Z[ YkbjkhW \‡i_YW" j_[d[ [b eX`[j_le Z[ jhWXW`Wh feh bW cWi_\_YWY_ÂŒd Z[b Z[fehj[ [d jeZWi bWi Z_iY_fb_dWi$ Æ>W]e kd
bbWcWZe W bei YbkX[i fWhW i[# ]k_h Ykcfb_[dZe Z[djhe Z[ be [ijWXb[Y_Ze feh bW b[o$ <ehcWh Z[fehj_ijWi [ _d_Y_Wh bW cWi_# Ă’ YWY_ÂŒdÇ" [d\Wj_pÂŒ [b Z_h[Yj_le h[[b[Yje$ 7dWd]edÂŒ Wi[]khÂŒ gk[ j_[d[d [b '&& Z[ Wfeoe Z[b ]eX_[hde ckd_Y_fWb$ 7Z[c|i W]hWZ[Y_ÂŒ [b Wfeoe Z[ bei YbkX[i fWhj_Y_fWdj[i$ Bei lejWdj[i Ye# _dY_Z_[hed [d gk[ 7dWd]edÂŒ [i bW c[`eh efY_ÂŒd1 Wi‡ be Wi[]khÂŒ 7b[nWdZ[h BWhW" h[fh[i[djWd# j[i Z[ bei Z[fehj_ijWi$ Æ9edi_# Z[he gk[ [b fh[i_Z[dj[ ^WY[ kd
(1#!3.1(.ĹŠÄ‰Ä‡ÄˆÄˆĹŠÄąĹŠÄ‰Ä‡ÄˆÄŽ 7777777777777 (%-(" "ĹŠ ĹŠ Ĺ—ĹŠ 1#2("#-3#ĹŠ
#/1#2#-3 -3# 423.Ŋ - -%.-¢
Ĺ—ĹŠ (!#/1#2("#-3#ĹŠ Ĺ—ĹŠÄˆÄ“ĹŠ .! +ĹŠ/1(-!(/ +ĹŠ ŗŊĉēŊ .! +ĹŠ/1(-!(/ +ĹŠ ŗŊĊēŊ .! +ĹŠ/1(-!(/ +ĹŠ Ĺ—ĹŠÄˆÄ“ĹŠ .! +ĹŠ24/+#-3#ĹŠ ŗŊĉēŊ .! +ĹŠ24/+#-3#ĹŠ ŗŊĊēŊ .! +ĹŠ24/+#-3#ĹŠ
4(".ĹŠ (5#1. #82(ĹŠ -3 !149 1+.2ĹŠ 1
-#3'ĹŠ 4#11 #+( ĹŠ +!4 -%. #1,;-ĹŠ 2! -3 +$1#".ĹŠ -3 !149
Xk[d jhWXW`e o W f[iWh Z[ bei fheXb[cWi [YedÂŒc_Yei iWX[ ie# Xh[bb[lWh W bW b_]W o WfeoWh W bei Z[fehj_ijWiÇ" Yec[djÂŒ BWhW$
"ľĉĊĒĊÄ?Äľ (
ĂŒ3 .+ĹŠ#-ĹŠ!.-31 ĹŠ"#ĹŠ+ ĹŠ,#-"(!(" " Feh [l_jWh bW c[dZ_Y_ZWZ i[ h[Wb_pWd lWh_Wi WYj_l_ZWZ[i W d_l[b dWY_edWb" f[he kdW _Z[W eh_]_dWb i[ ][ijÂŒ [d F_cWcf_# he$ I[ jhWjW Z[b YWcf[edWje Z[ \‘jXeb :W :_]d_ZWZ feh kd F_# cWcf_he i_d c[dZ_Y_ZWZ$ ;d [b jehd[e fWhj_Y_fWd '. [gk_fei Z_l_Z_Zei [d YWj[]eh‡W _d\Wdj_b" ZWcWi o lWhed[i$ ;d W‹ei Wdj[h_eh[i Z[Y[dWi Z[ f[hiedWi" _dYbko[dZe d_‹ei" iWb‡Wd [ bW YWhh[j[hW W ikfb_YWh e [n_]_h b_ceidWi$ ;ij[ YWc# f[edWje XkiYW [l_jWh gk[ bWi l‡Wi Z[b LWbb[ Z[b 9^ejW i[Wd Xbegk[WZWi ZkhWdj[ bW j[cfe# hWZW dWl_Z[‹W$ :[ [ijW \ehcW i[ fh[j[dZ[ [hhWZ_YWh bW c[d# Z_Y_ZWZ o ZWh W bW Yeckd_ZWZ ejhWi Wbj[hdWj_lWi Z[ h[Yh[WY_ÂŒd o ieb_ZWh_ZWZ$ Bei 9Wc_ed[hei" 9[djhe 7h# ][dj_de" BW Gk[XhWZW" 9Wbb[ ." 9[djhe Z[ IWbkZ o IWd FWXbe" ied bei ]hkfei fWhj_Y_fWdj[i$ BW c_i_ÂŒd Z[ bei Z[fehj_ijWi [i Z[ceijhWh fehgk[ ;b LWbb[ [i YedeY_Ze Yece bW YkdW Z[ ]hWd#
ēŊ +Ŋ! ,/#.- 3.Ŋ.1% -(9 ".Ŋ/.1Ŋ#+Ŋ 4-(!(/(.ĔŊ+.2Ŋ/1#2("#-3#2Ŋ"#Ŋ+ 2Ŋ !.,4-(" "#2Ŋ"#+Ŋ ++#ĔŊ1#!( #Ŋ#+Ŋ /.8.Ŋ"#+Ŋ ĹŊ Ŋ"#Ŋ , 41 ē
Z[i \kjXeb_ijWi$ Bei [dYk[djhei Z[fehj_lei i[ Z[iWhhebbWh|d bei
Ă’ d[i Z[ i[cWdW" [djh[ i|XWZei o Zec_d]ei$
1#2("#-3#ĹŠ "#ĹŠ #"#+(% 2ĹŠ
1##+#!3. : ěŊ Feh kdWd_c_ZWZ \k[
Ă‹+3(, ĹŠ! 11#1
h[[b[Yje bW deY^[ Z[b bkd[i fh[i_Z[dj[ Z[ bW <[Z[hWY_Œd Z[ B_]Wi :[fehj_lWi 8Whh_W# b[i o FWhhegk_Wb[i Z[b 9WhY^_" HeX[hje ;dh‡gk[p$ ;ijWh| [d \kdY_ed[i YkWjhe W‹ei$ BW WiWcXb[W [njhWehZ_dWh_W \k[ WlWbWZW feh [b fh[i_Z[dj[ dW# Y_edWb" >k]e B[Œd$ JWcX_ƒd i[ dec_dŒ W bei leYWb[i fh_dY_fWb[i o ikfb[d# j[i$ BW Z[i_]dWY_Œd Z[b i[Yh[# jWh_e" j[ieh[he o Yec_i_ed[i gk[ZŒ fWhW kdW fhŒn_cW \[Y^W$ ;ijWh| [d cWdei Z[b Z_h[Yjeh_e$ Bei _d\ehc[i Z[ bW fh[# i_Z[dY_W o [YedŒc_Ye i[h|d fh[i[djWZei [d [d[he W bW WiWcXb[W ][d[hWb ehZ_dWh_W$ ;dh‡gk[p j_[d[ jh[i W‹ei Z[ [`[hY_Y_e fh[i_Z[dY_Wb [d
Ä Ä†
g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
#"#+(% 2 -3#%1 -3#2
ŗ . #13.Ŋ -1~04#9ĔŊ/1#2("#-3#ē ŗ (%. #13.Ŋ 1 9.ĔŊ5(!#/1#2("#-3#ē ŗ /.+_.-Ŋ ¢/#9ĔŊ!..1"(- ".1ē .! +#2Ŋ/1(-!(/ +#2ĖŊ 1 -!(2!.Ŋ .%4#1 ĔŊ ŗ "6(-Ŋ 3(!4;-Ŋ8Ŋ (,#Ŋ 413 ".ē .! +#2Ŋ24/+#-3#2ĖŊ 4(++#1,.Ŋ 4#1 ĔŊ ŗ +5( Ŋ #1(-.Ŋ8Ŋ .2_Ŋ #1-;-"#9ē
bW <[Z[b_]Wi$ B[ \WbjWXW kde fWhW Ykcfb_h [b f[h‡eZe fWhW [b gk[ \k[ [b[]_Ze" f[he feh Z_ifei_# Y_ÂŒd Z[b C_d_ij[h_e Z[b :[fehj[ i[ WZ[bWdjWhed bWi [b[YY_ed[i$ ;b Z_h[Yj_le Yedj_dkWh| Yed bW feb‡j_YW Z[ \ehjWb[Y[h [b Z[fehj[ XWhh_Wb o fWhhegk_Wb h[Yh[Wj_le$ BWi b_]Wi Ă’ b_Wb[i W bW cWjh_p i[ fh[fWhWd fWhW bei YWcf[edWjei Z[b fhÂŒn_ce W‹e$
ēŊ - 5( +Ĺ .1 )#Ŋ 1!'#-2#Ŋ2#Ŋ"#2/("(¢Ŋ 8#1Ŋ"#+Ŋ/ ~2Ŋ!.-Ŋ4- Ŋ14#" Ŋ"#Ŋ/1#-2 Ŋ.$1#!(" Ŋ#-Ŋ#+Ŋ . (#1-.Ŋ 1.5(-!( +ē
+ĹŠ#04(/.ĹŠ - 5( +Äą .1 )#ĹŠ 1!'#-2#ĹŠ 1." 1;ĹŠ#-ĹŠ+ ĹŠ 4#+3 ĹŠ ĹŠ .23 ĹŠ (! ĹŠ"#+ĹŠÄˆÄ?ĹŠ +ŊĉđŊ"#ĹŠ#23#ĹŠ,#2Ä“ : ěŊ ;b [djh[dWZeh o bei Y_#
Yb_ijWi Z[b [gk_fe FWdWl_Wb#9e# hW`[ 9WhY^[di[ fWiWh|d bW DW# l_ZWZ b[`ei Z[ iki \Wc_b_Wi$ ;b cej_le0 bW fWhj_Y_fWY_ÂŒd [d bW Lk[bjW 9_Yb‡ij_YW W 9eijW H_YW W Yehh[hi[ Z[iZ[ [b ', ^Wi# jW [b (. Z[ [ij[ c[i$ ;b l_W`[ W Gk_je \k[ Wo[h W bWi ()0&& fWhW lebWh ^eo W bWi &,0&& W j[hh_je# h_e j_Ye$ ;d jh[i ^ehWi [ijWh|d [d IWd @eiƒ$ I[h|d Zei i[cWdWi Z[ Wki[dY_W$ @kWd 9Whbei Hei[he" [djh[dW# Zeh" ik[b[ i[hl_hi[ bW Y[dW Z[b (* Yed ik [ifeiW CWohW Fepe o iki jh[i ^_`ei0 @kWd 9Whbei (& W‹ei " @kWd <hWdY_iYe '- o Ie\‡W 9Wc_bW '* " WZ[c|i Z[ ejhei \Wc_b_Wh[i" f[he W^ehW be ^Wh|d iebWc[dj[ [bbei$ JWcfe# Ye [ijWh| [b (+ fWhW YecfWhj_h bei h[]Wbei$ ?]kWb ikY[Z[h| Yed bei Y_Yb_i# jWi" gk_[d[i _]kWbc[dj[ Y[b[# XhWd bWi Ă’ [ijWi Z[ bW j[cfehW# ZW `kdje W iki Wbb[]WZei" f[he W^ehW de b[i gk[ZWh| c|i gk[ heZWh ^WY_W bW l_Yjeh_W Yece [b c[`eh h[]Wbe dWl_Z[‹e$ ÆDei ZW f[dW fWiWh b[`ei Z[ dk[ijhWi \Wc_b_Wi" f[he ^Wo gk[ Ykcfb_h Yed bW fhel_dY_W o [b fW‡iÇ" Z_`e Bk_i ?XWhhW$ I_d [cXWh]e" [ijWh|d Z[ h[# jehde [b (/ fWhW Z[if[Z_h [b W‹e
l_[`e$ H_]kheiei [djh[dWc_[djei C_[djhWi ejhei Z[fehj_ijWi j[hc_dWhed bW j[cfehWZW" bei Y_Yb_ijWi Z[ FWdWl_Wb _dj[di_Ă’ # YWhed bei [djh[dWc_[djei feh YWhh[j[hWi [YkWjeh_WdWi o Ye# becX_WdWi Yed c_hWi W bW Lk[b# jW W 9eijW H_YW gk[ j[dZh| '( [jWfWi Yed '+)& a_bÂŒc[jhei Z[ h[Yehh_Ze$ I[]‘d [b [djh[dWZeh YWh# Y^[di[" [b ]_he j[dZh| kd Wbje d_l[b jƒYd_Ye fehgk[ [ijWh|d fh[i[dj[i '' [gk_fei beYWb[i o [njhWd`[hei" [djh[ [bbei >ebWd# ZW" =kWj[cWbW" 9kXW" ;YkWZeh o 9ebecX_W$ Feh [ij[ ‘bj_ce fW‡i [ijWh|d bei [gk_fei Cel_i# jWh o Eh]kbbe Z[ 7cƒh_YW$ ;b jƒYd_Ye Hei[he [ij| efj_# c_ijW fehgk[ Z[ WYk[hZe W bW YWhjW jƒYd_YW [b j[hh[de [i \Wle# hWXb[" [if[Y_Wbc[dj[ Z[iZ[ bWi [jWfWi i_[j[ ^WijW bW '&$ >WXh|d Zei YedjhWhh[be`[i0 kdW _dZ_l_# ZkWb o ejhW feh [gk_fei$ BW fWhj_Y_fWY_ÂŒd [d 9eijW H_YW b[ YeijWh| Wb [gk_fe Wbh[# Z[Zeh Z[ ') c_b ZÂŒbWh[i" i[]‘d Heic[ho F_bbW`e" YeehZ_dWZehW$ ;b Z_d[he [i Z[b fh[ikfk[ije gk[ Z_e FWdWl_Wb$ BW [djh[]W ^_pe [b fh[\[Yje" H[dƒ OWdZ‘d" gk_[d W]hWZ[# Y_ÂŒ W bW [cfh[iW o [d [if[Y_Wb W CWhY[be >[hZe‡pW$ Æ;d kij[Z[i `ÂŒl[d[i ^Wo kdW ]hWd h[ifediW# X_b_ZWZ fehgk[ [i kd Yecfhe# c_ie Z[ i[h_[ZWZ o h[fh[i[djW# j_l_ZWZ$ De Z[X[d Wc_bWdWhi[ feh dWZW o Z[X[d iWYWh W h[bkY_h [b YehW`[ YWhY^[di[Ç" [nfh[iÂŒ bW Wkjeh_ZWZ fhel_dY_Wb$ ;b Y_Yb_ijW Abƒl[h 9kWigk[h h[iWbjÂŒ [b Wfeoe Z[ bW [cfh[iW FWdWl_Wb o Z[b =eX_[hde Fhe#
04(/.
- 5( +Äą .1 )#ĹŠ 1!'#-2#
ŗ .1%#Ŋ .-3#-#%1. ŗ 4(2Ŋ 11 ŗ +.Ŋ (!#". ŗ 4(2Ŋ (++ 11# + ŗ +_5#1Ŋ 4 204#1 ŗ 4 -Ŋ 1+.2Ŋ .9. ŗ (#%.Ŋ 13# % ŗ 4 -Ŋ 1+.2Ŋ .2#1.ĔŊ#-31#- ".1ē ŗ 31(!(.Ŋ 4- ĔŊ,#!;-(!.ē ŗ:+5 1.Ŋ .2#1.ĔŊ, 2 )(23 ē ŗ -3( %.Ŋ .,.Ŋ 1ēĔŊ"#+#% ".ē
ēŊ . #13.Ŋ -1~04#9Ŋĸ2#%4-".Ŋ"#Ŋ+ Ŋ"#1#!' ĚŊ$4#Ŋ1##+#!3.Ŋ/1#2(Ĺ "#-3#Ŋ"#Ŋ+ Ŋ #"#1 !(¢-Ŋ"#Ŋ (% 2Ŋ 11( +#2Ŋ8Ŋ 11.04( +#2Ŋ"#+Ŋ 1!'(ē
l_dY_Wb Z[b 9WhY^_$ Æ;if[hWcei [nY[b[dj[i h[ikbjWZei" Yece bei eXj[d_Zei [d 8hWi_bÇ" [nfkie [b Z[fehj_ijW$ ;b [gk_fe i[ Z[if_Z_ÂŒ Wo[h Z[b fW‡i [d hk[ZW Z[ fh[diW e\h[Y_ZW Z[ifkƒi Z[ bWi &/0&& [d [b iWbÂŒd Z[ i[i_ed[i Z[b =e# X_[hde Fhel_dY_Wb Z[b 9WhY^_$
#ĹŠ +(23 -ĹŠ/ 1 ĹŠ3.1-#.
4+!;-ĖŊ .2Ŋ#04(/.2Ŋ"#Ŋ+ 2Ŋ"($#1#-3#2Ŋ+(% 2Ŋ 1, -Ŋ242Ŋ+~-# 2Ŋ/ 1 Ŋ +.2Ŋ! ,/#.- 3.2Ŋ"#+Ŋ/1¢7(,.Ŋ  .ē
Ŋ.1% -(9 !(¢-Ŋ"#/#-"#Ŋ"#Ŋ! " Ŋ(-23(34!(¢-ĔŊ/#1.Ŋ2#Ŋ/1#5_Ŋ04#Ŋ 11 -! 1;-Ŋ#-Ŋ#-#1.Ŋ8Ŋ$# 1#1.ēŊ -Ŋ 4+!;-Ŋ' 8Ŋ+ 2Ŋ+(% 2Ŋ .13#ĔŊ #-31 +ĔŊ 41Ŋ8Ŋ 4+(.Ŋ -"1 "#ēŊ Ŋ3#,Ĺ /.1 " Ŋ04#Ŋ5(#-#Ŋ2#Ŋ#2/#1 Ŋ+ Ŋ(-3#%1 !(¢-Ŋ"#Ŋ.31 2Ŋ/ 11.04( 2ē
Ĺ? Ĺ?
Ĺ?
7
Ä Ä‡
g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
#15(!(.Ŋ,_"(!.Ŋ 8Ŋ.".-3.+¢%(!.
Ĺ—ĹŠĹŠĹŠ
: ŊěŊ;b :[fWhjWc[dje Z[ 8_[d[ijWh Kd_l[hi_jWh_e Z[ bW Feb_jƒYd_YW ;ijWjWb Z[b 9WhY^_ fkie W Z_ifei_Y_ÂŒd Z[ [ijkZ_Wdj[i" ZeY[dj[i" [cfb[WZei o jhWXW`WZeh[i Z[ bW _dij_jkY_ÂŒd bei i[hl_Y_ei Z[ eZedjebe]‡W" Wj[dY_ÂŒd cƒZ_YW o bWXehWjeh_e Yb‡d_Ye$ ?dijW# bWY_ed[i gk[ i[ _dWk]khWh|d ^eo$ 9[Y_b_W OWY[b]W" Z_h[YjehW Z[ bW Z[f[dZ[dY_W" _dZ_YÂŒ gk[ [b fhefÂŒi_je [i fhefehY_edWh X_[d[ijWh W bei _dj[]hWdj[i Z[ bW Yeckd_ZWZ kd_l[hi_jWh_W o c[`ehWh ik YWb_ZWZ Z[ l_ZW$
(. !, #š(ŋ ,)(. ,#4 ēŊ 43.1(" "#2ĔŊ#234"( -3#2Ŋ8Ŋ/. + !(¢-Ŋ#-Ŋ%#-#1 +ĔŊ 2(23(#1.-Ŋ +Ŋ 4(-3.Ŋ -!4#-31.Ŋ (- !(.- +Ŋ"#Ŋ -3#%1 !(¢-Ŋ 1.-3#1(9 Ŋ#-Ŋ+ Ŋ ē
-31#% ĹŠ"#ĹŠ4-ĹŠ ĂŒ'.
Ĺ—ĹŠĹŠĹŠ
: ŊěŊI[]kdZe ?ihW[b =kpc|d" [dYWh]WZe Z[ bW Kd_ZWZ Z[ Fhej[YY_ÂŒd Z[ C[Z_e 7cX_[dj[ Z[b 9WhY^_ _dZ_YÂŒ gk[ [d bW Z[f[dZ[dY_W h[Wb_pWhed kdW [djh[]W lebkd# jWh_W Z[ kd 8‘^e" Wd_cWb gk[ [ijWXW [d cWdei Z[ kdW f[h# iedW [d [ijWZe [j‡b_Ye" c_icW gk[ XkiYWXW l[dZ[hbW$ KdW CehWZehW Z[ IWd =W# Xh_[b" h[Ykf[hÂŒ W bW Wl[$ ;ijW i[h| [djh[]WZW Wb C_d_ij[h_e Z[b 7cX_[dj[ [d bW fhel_dY_W fWhW bk[]e i[h jhWibWZWZW Wb peebÂŒ]_Ye Z[ ?XWhhW$
+Ŋ !4#1".Ŋ"#Ŋ 2,#1 +" 2ĔŊ,.5(+(" "Ŋ '4, - ĔŊ"#2/+ 9 ".2ĔŊ#-31#Ŋ.31.2Ŋ/4-3.2Ŋ #, 2Ŋ ŊŊ #-31.Ŋ"#Ŋ+.2Ŋ3#, 2Ŋ04#Ŋ2#Ŋ31 3¢Ŋ#-Ŋ#+Ŋ$.1.Ŋ"#Ŋ -3#%1 !(¢-Ŋ#2345(#1.-Ŋ"#Ŋ31 -2Ĺ ŗ/.13#Ŋ _1#.ĔŊ, 1~3(,.ĔŊ3#11#231#ĔŊ,.5(+(" "Ŋ'4, - ĔŊ!.-5#-(.Ŋ"#Ŋ 2,#1 +" 2ĔŊ 2#Ŋ31 3 1.-Ŋ#-Ŋ$.1.Ŋ (- !(.- +ē : Ŋě9ed bW ÒdWb_ZWZ Z[ eX#
i[hlWh bei fheXb[cWi" l[djW`Wi" WYk[hZei gk[ de i[ Ykcfb[d" [djh[ ejhei fkdje feh Z[XWj_h [d bW \hedj[hW" Wo[h i[ h[Wb_pŒ [b Gk_dje ;dYk[djhe 8_dWY_edWb Z[ ?dj[]hWY_Œd <hedj[h_pW$ xij[ [l[dje be bb[lŒ W YWXe bW Kd_l[hi_ZWZ Feb_jƒYd_YW ;ijWjWb Z[b 9WhY^_ KF;9" o ;iYk[bW Ik# f[h_eh Z[ 7Zc_d_ijhWY_Œd F‘Xb_# YW Z[ 9ebecX_W" H[]_edWb DWh_‹e o 7bje FkjkcWoe ;I7F" ZkhWdj[ Zei Z‡Wi$ ;b fh_c[h Z‡W i[ be h[W# b_pŒ [d FWije 9ebecX_W o Wo[h
[d [b WkZ_jeh_e Z[ bW KF;9$ Kde Z[ bei fkdjei gk[ c|i i[ Z[XWj_ÂŒ \k[ [b 7Yk[hZe Z[ ;ic[# hWbZW" jhWjWZe gk[ i[h‡W Z[ ]hWd kj_b_ZWZ Z[ Z[iWhhebbe fWhW Wc# XWi dWY_ed[i" c_ice gk[ i[ be Ykcfb[ W c[Z_Wi$ 7 c|i Z[ ][d[hWh fhefk[i# jWi Z[ Z[iWhhebbe fWhW ;YkWZeh o 9ebecX_W" i[ XkiYW j[d[h kdW _dj[]hWY_ÂŒd WYWZƒc_YW" feh [bbe [djh[ bW KF;9 o ;I7F Ă’hcWhed kd WYk[hZe _dj[h_dij_jkY_edWb" Yed [b YkWb bb[lWd lWh_ei [l[djei jWdje [d FWije Yece [d JkbY|d$
- 1!.31;ă!.ĹŠ"#2/+ 9 ".2ĔŊ#-ĹŠÄƒ-ĹŠ3." 2ĹŠ+ 2ĹŠ3#,;3(! 2ĹŠ"#ĹŠ/1. +#, 2ĹŠ"#ĹŠ(-3#%1 !(¢-Ä“
>k]e Hk_p" h[Yjeh Z[ bW KF;9 Z_`e gk[ [i d[Y[iWh_e \ec[djWh kd bWpe [djh[ WcXWi dWY_ed[i o c[`eh W‘d i_ ied Z[ j_fe WYWZƒ# c_Yei$ ;nfb_YÂŒ gk[ kdW l[p gk[ i[ j[hc_dÂŒ bei Y_Ybei Z[ Yed\[h[d# Y_Wi Z[ _dj[]hWY_ÂŒd" i[ [bWXehWh| kd ZeYkc[dje fWhW [djh[]Wh [b '/ Z[ Z_Y_[cXh[ W bei fh[i_Z[d# j[i HW\W[b 9ehh[W o @kWd CWdk[b IWdjei Z[ ;YkWZeh o 9ebecX_W h[if[Yj_lWc[dj[" Yed [b Ă’d Z[ gk[ c_h[d bei fhe]h[iei gk[ i[
h[Wb_pW [d bW \hedj[hW fWhW fe# Z[h eXj[d[h [b Z[iWhhebbe gk[ jWdjW \WbjW ^WY[$ Feh ik fWhj[ CWdk[b :k[‹Wi" Z_h[Yjeh Z[ ;I7F _dZ_YŒ gk[ [i _cfehjWdj[ fhecel[h o h[Wb_# pWh kdW [ijhWj[]_W Z[ Z[iWhhebbe o ZWh W YedeY[h bei fheXb[cWi Z[ \hedj[hW fWhW XkiYWh kdW ie# bkY_Œd$ 9ec[djŒ gk[ Yedj_dkWh|d Yed [ijei fheo[Yjei fWhW [b X_[d[ijWh Z[ WcXWi Yeckd_ZW# Z[i ^[hcWdWi$
(., ! Ĺ‹ Ĺ‹ )( #)( -Ĺ‹ : ĹŠÄ› ;b C_d_ij[h_e Z[ ?dYbk#
4+341 ĹŠ8ĹŠ 13#
4+!;-ĖŊ Ŋ 2 Ŋ"#Ŋ+ Ŋ 4+341 Ŋ"#+Ŋ 1!'(ĔŊ1# +(9¢Ŋ 8#1Ŋ#-Ŋ#+Ŋ/ 104#Ŋ"#Ŋ + Ŋ -"#/#-"#-!( Ŋ4- Ŋ#7/.2(!(¢-Ŋ/+;23(! Ŋ!.-Ŋ!4 "1.2Ŋ#+ .1 ".2Ŋ #-Ŋ#+Ŋ3 ++#1Ŋ"#Ŋ 13#Ŋ(-$ -3(+Ŋĥ (#%.Ŋ .1"(++.Ŋ 15;#9ĥēŊ 23#Ŋ#5#-3.Ŋ2#Ŋ +.Ŋ#$#!34¢Ŋ!.,.Ŋ4-Ŋ'.,#- )#Ŋ Ŋ+.2Ŋ-( .2Ŋ8Ŋ-( 2Ŋ"#Ŋ 4+!;-ēŊ "#,;2Ŋ 2#Ŋ/1#2#-3¢Ŋ#+Ŋ%14/.Ŋ 13~23(!.Ŋĥ #11.2Ŋ ++#)#1.2ĥē
i_ÂŒd ;YedÂŒc_YW o IeY_Wb Z[b 9Wh# Y^_# C?;I" W jhWlƒi Z[b ?dij_jkje Z[ bW D_‹[p o bW <Wc_b_W Ă„C?;I ?D<7" bb[lW WZ[bWdj[ bW YWcfW‹W Æ:W :_]d_ZWZ feh kd ;YkWZeh i_d C[dZ_Y_ZWZÆ" fheo[Yje gk[ XkiYW [hhWZ_YWh bW c[dZ_Y_ZWZ Z[ bWi YWbb[i o YWhh[j[hWi Z[b fW‡i" fhej[]_[dZe W bei ]hkfei lkbd[hWXb[i Z[ d_‹ei" d_‹Wi" WZeb[iY[dj[i" WZkbjei cWoeh[i o f[hiedWi Yed Z_iYWfWY_ZWZ$ FWhW [ije [ij| _cfkbiWdZe kdW i[h_[ Z[ WYj_l_ZWZ[i Yed [b Ă’d Z[ i[di_X_b_pWh W bW Y_kZWZW# d‡W Z[ de [djh[]Wh b_ceidWi [d bW YWbb[$ 9ed [ij[ cej_le Wo[h i[ h[Wb_# pÂŒ kdW 9WhWlWdW Ă„ 9edY_[hje :W :_]d_ZWZ" W fWhj_h Z[ bWi &/0&&"
¥ ēŊ 1(.2Ŋ 13(23 2Ŋ!.-31( 48#1.-Ŋ#-Ŋ+ Ŋ 1 5 - ŊIJŊ .-!(#13.Ŋ Ŋ (%-(" "ĔŊ 8#1Ŋ#-Ŋ+#Ŋ/ 104#Ŋ 1(-!(/ +ēŊ
[d [b fWhgk[ Fh_dY_fWb$ :[Y[dWi Z[ JkbYWd[‹ei [djh[# ]Whed iki Yedjh_XkY_ed[i jWdje [d fheZkYjei f[h[Y_Xb[i Yece [d hefW" pWfWjei$ C_[cXhei Z[b ?D<7" `kdje W Feb_Y‡Wi o C_b_jWh[i" h[Yehh_[hed bei Z_\[h[dj[i i[Yjeh[i Z[ bW khX[ jkbYWd[‹W fWhW h[Ye][h bWi Yed#
jh_XkY_ed[i" gk[ i[h|d [djh[]W# ZWi [d bei fhÂŒn_cei Z‡Wi W ]hk# fei lkbd[hWXb[i Z[ bW fhel_dY_W oW _Z[dj_Ă’YWZei$ BWi f[hiedWi Z[ Xk[d YehWpÂŒd gk[ Z[i[[d [djh[]Wh iki Yedjh_Xk# Y_ed[i W‘d fk[Z[d ^WY[hbe [d bWi eĂ’Y_dWi Z[b C?;I ?D<7 kX_YWZWi [d bW YWbb[ Ebc[Ze o 9^_cXehWpe$
:
āĈ
g g āąŏ ŏ ŏĂĀāā āąŏ ŏ ŏĂĀāā
ŏ +.
ŏ +. ŏ ġ ŏ ġ
' #)ŋ ŋ./ ,v ŋ
} ēũ .2ũ 11(.2ũ"#+ũ-.13#ũ-.ũ!4#-3 -ũ Ì-ũ!.-ũ#+ũ 11#%+.ũ"#ũ+ 2ũ! ++#2ēũ .2ũ 43.2ũ-.ũ/4#"#-ũ(-%1#2 1ũ#ũ(-!+42.ũ! ,(- -ũ,4!'.ũ/ 1 ũ .3 1ũ+ ũ 241 ũ#-ũ#+ũ1#!.+#!3.1ē
,,#)-ŋ &ŋ(),. ŋ )(ŋ '#()-ŋ#(., (-#. & -ŋ
.2ũ,.1 ".1#2ũ 2.+(!(3 -ũ 3#-!(¢-ũ 41%#-3#ēũ 2ũ5~ 2ũ 8ũ5#1#" 2ũ+4!#-ũ "#2!4(" " 2ēũũ
ě;biW 9kWifW gk_[d
l_l[ [d [b XWhh_e Bei Jkb_fWd[i Wb dehj[ Z[ JkbY|d" cWd_\[ij gk[ feh [b YhkZe _dl_[hde" bWi YW# bb[i i[ ^Wd lk[bje _djhWdi_jWXb[i$ ÆBei l[^ Ykbei de fk[Z[d _d# ]h[iWh$ >eo [ijWcei Yed kd beZe j[hh_Xb[ f[he [d l[hWde [b feble [i _diefehjWXb[Ç$ ?iWX[b Ei[`ei" ejhW cehWZehW
Z[b XWhh_e BW H_e`W f_Z[ Wb ckd_# Y_f_e [b WZegk_dWZe" oW gk[ [ijWi Whj[h_Wi [ij|d [d WXWdZede$ C_h_Wc 9WXh[hW jWcX_ d ^W# X_jWdj[ Z[b c_ice i[Yjeh ieb_Y_jW gk[ feh be c[dei i[ Yebegk[ bWi# jh[" oW gk[ _dYbkie [b l[^ Ykbe Z[ bW XWikhW de bb[]W$ #ũ1# +(9 1.-ũ%#23(.-#2ũ
CWdk[b 9^Wf_" fh[i_Z[dj[ Z[ bW KhXWd_pWY_ d BW H_e`W gk[ i[ kX_YW jhWi Z[b Yeb_i[e Æ'/ Z[ Del_[cXh[Ç" [nfb_Y gk[ [b [i# jWZe [d gk[ i[ [dYk[djhWd bei YWc_dei [i Z[ ]hWd fh[eYkfW# Y_ d$ Feh [`[cfbe" WÒ hc gk[ bei Z[fehj_ijWi dWY_edWb[i o [n# jhWd`[hei gk[ bb[]Wd W Yecf[j_h Wb l[b Zhece i[ [dYk[djhWd Yed
(-ũ/1#24/4#23.ũ"#ăũ-(". ŗũũ 1341.ũ .2#1.Ĕũ"(1#!3.1ũ"#ũ 1 2ũ Ì +(! 2ũ"#+ũ,4-(!(/(.ũ"#ũ 4+!;-Ĕũ#7/+(!¢ũ 04#ũ-.ũ#23;ũ"#ăũ-(".ũ#+ũ/1#24/4#23.ũ/ 1 ũ#+ũĉũćĈĉēũ ăũ1,¢ũ04#ũ2#1;ũ#+ũ +! +"#ũ8ũ#+ũ
!.-!#).ũ04(#-#2ũ/1(.1(9 1;-ũ+ 2ũ! ++#2ũ04#ũ2#1;-ũ1# "#!4 " 2ēũũ .,#-3¢ũ04#ũ#7(23#ũ4-ũ(-$.1,#ũ2. 1#ũ#+ũ+(23 ".ũ"#ũ 13#1( 2ũ04#ũ Ì-ũ-.ũ1#!( #-ũ#+ũ 31 3 ,(#-3.ũ!.11#2/.-"(#-3#ũ#-ũ#+ũ!#-31.Ĕũ-.13#ũ8ũ241ũ"#ũ 4+!;-ēũ
[ijW cWbW _cW][d$ Feh [ijW hWp d" ^WY[ Zei W ei" jkle bW _Z[W Z[ kd_h W Z_[p XWhh_ei fWhW XkiYWh kdW iWb_ZW W [ij[ _d# Yedl[d_[dj[ o Yed\ehcWh kdW iebW Z_h[Yj_lW$ KdW Yec_i_ d Yed\ehcWZW feh h[fh[i[djWdj[i Z[ bei XWhh_ei0 9WhY^_" '' Z[ 7Xh_b" Jkb_fWd[i" '& Z[ CWoe" (, Z[ CWoe" 9[_Xei '" 9[_Xei (" BW H_e`W o IWkY[i bb[#
ũ ũ ũ ũ
1, !( 2ũ"#ũ341-.
ũ ũ ũ ŢŴ 5)")#)/Ŵ$.Ŵ$,ŴĔĒĒĜŴŃēĕńŴ$.Ŵ$,ŴĔĒĒĝŴ ŃēĕńĞ ŢŴ "")#$.4$3Ŵ#$Ŵ 2<.3)4/Ŵ$.Ŵ$,ŴĔĒĒĜŴ ŃēěńŴ$.Ŵ$,ŴĔĒĒĝŴŃēĚńĞ ŢŴ "")#$.4 ,Ŵ$.Ŵ$,ŴĔĒĒĜŴŃěńŴ$.Ŵ$,ŴĔĒĒĝŴ ŃēĔńĞ ŢŴŴ /2Ŵ#$4$2-). 2ŴŴ$.Ŵ$,ŴĔĒĒĜŴŃēńŴ$.Ŵ$,Ŵ ĔĒĒĝŴŃēń ŢŴŴ .#$4$2-). # Ŵ$.Ŵ$,ŴĔĒĒĜŴŃēńŴ$.Ŵ$,Ŵ ĔĒĒĝŴŃĒń ŢŴ $Ŵ/!3$26 Ŵ,/3Ŵ# 4/3Ŵ !3/,54/3Ŵ3/!2$Ŵ -5$24$3Ŵ0/2Ŵ" 53 3Ŵ$84$2. 3Ŵ$.Ŵ,/3Ŵ «/3Ŵ ĔĒĒĜŴ9ŴĔĒĒĝĞŴ ŢŴ Ŵ4$.#$.") Ŵ$.Ŵ$,Ŵ «/ŴĔĒĒĝŴ9ŴĔĒĒĜŴ $3Ŵ! 34 .4$Ŵ3)-), 2ğŴ./Ŵ$8)34$.Ŵ" -!)/3Ŵ 3)&.)ĎŴ" 4)6/3ĞŴ ,Ŵ.×-$2/Ŵ#$Ŵ-5$24$3Ŵ0/2Ŵ
]Whed W bW WbYWbZ W o [n_]_[hed [b Whh[]be Z[ [ijWi Wl[d_ZWi$ FheZkYje Z[ [ijW bkY^W" i[ _d_Y_ Yed [b WZegk_dWZe Z[ bW Wl[d_ZW (, Z[ CWoe gk[ j_[d[ kd WlWdY[ Z[ kd +& Yed kd Yeije Z[ ''' c_b ,&& Z bWh[i$ ÆJ[d[# cei Z[h[Y^e W l_l_h Z[ cWd[hW Z_]dW o [if[hWcei gk[ [d [b W e i_]k_[dj[ i[ Whh[]b[d c|i YWbb[i [d bei Z_[p XWhh_eiÇ$
: ũ ũ 5$24$3Ŵ0/2Ŵ" 53 3Ŵ$84$2. 3 ŢŴ 2 Ŵ , Ŵ 2$ ,): ").Ŵ #$,Ŵ 3$&5.#/Ŵ ).%/2-$Ŵ#$,Ŵ/!3$26 4/2)/Ŵ#$Ŵ 2"()ğŴ 3$Ŵ"/.3)#$2Ŵ, Ŵ", 3)%)" ").Ŵ35&$2)ļ # Ŵ0/2Ŵ, Ŵ 2& .): ").Ŵ 5.#) ,Ŵ#$Ŵ, Ŵ ,5#ŴŃ ńŴ3/!2$Ŵ-5$24$3Ŵ0/2Ŵ" 5ļ 3 3Ŵ$84$2. 3ğŴ4 -!)j.Ŵ"/./")# 3Ŵ"/-/Ŵ -5$24$3Ŵ6)/,$.4 3Ğ ŢŴŴ $&×.Ŵ$34<Ŵ", 3)ĎŴ" ").Ŵ3$Ŵ"/.3)#$2 Ŵ -5$24$3Ŵ0/2Ŵ" 53 3Ŵ$84$2. 3Ŵ Ŵ 15$ļ ,, 3Ŵ02/#5")# 3Ŵ0/2Ŵ(/-)")#)/3ğŴ35)")ļ #)/3ğŴ "")#$.4$3Ŵ9Ŵ/42 3Ŵ" 53 3Ŵ#/.#$Ŵ ./Ŵ3$Ŵ( 9 Ŵ0/#)#/Ŵ#$4$2-). 2Ŵ$,Ŵ4)0/Ŵ #$Ŵ-5$24$Ğ ŢŴ 5$24$3Ŵ0/2Ŵ(/-)")#)/Ŵ$.Ŵ$,ŴĔĒĒĜŴ ŃĝńŴ$.Ŵ$,ŴĔĒĒĝŴŃĜń
: ě ;d [b i[Yjeh Z[ =kW# c| i[ h[Wb_pWd bei YWcX_ei Z[ jkX[h W Z[ W]kW fejWXb[ fWhW [b YWdj d JkbY|d$ BW jkX[h W jhW[ [b W]kW Z[iZ[ bWi YWfjWY_ed[i ^WijW bW fbWdjW Z[ jhWjWc_[dje Z[ JWgk[i$ ;b YWcX_e i[ h[Wb_pW [d Wfhen_cWZWc[dj[ (,& c[jhei Yed kdW jkX[h W Z[ )++ c_b c[jhei Z[ Z_|c[jhe Yed FL9$ I[ [if[hW gk[ [d gk_dY[ Z Wi YedYbk_h Yed [i# jei jhWXW`ei$ <[hdWdZe JeXWh" ][h[d# j[ Z[ bW ;cfh[iW Ckd_Y_fWb Z[ 7]kW FejWXb[ ;C7F7 J" cWd_\[ij gk[ bW Wdj[h_eh jkX[h W Ykcfb_ Yed ik l_ZW j_b feh be gk[ i[ fheZkY Wd Yedj_dkei hecf_c_[djei$ FWhW [ijei YWcX_ei i[ _dl_h# j_ kdei -& c_b Z bWh[i$ De eXijWdj[" JeXWh WÒ h# c gk[ bW jkX[h W j_[d[ kdW [nj[di_ d Z[ '( a_b c[jhei o j_[d[ c|i Z[ *+ W ei Z[ l_ZW feh be gk[ de i[ Z[iYWhjW gk[ ^WoW [d [b \kjkhe dk[lei ZW# ei$ Feh [b hecf_c_[dje Z[ bW jkX[h W i[ ^W ikif[dZ_Ze" [d feYWi Wdj[h_eh[i" [b i[hl_Y_e Z[b W]kW [d jeZW bW Y_kZWZ$
"")#$.4$3Ŵ#$Ŵ42<.3)4/Ŵ$3Ŵ$,Ŵ-<3Ŵ$,$6 #/Ŵ $.Ŵ$,Ŵ" .4.ğŴ3$&5)#/3Ŵ9ğŴ$.Ŵ4$2"$2Ŵ,5& 2ğŴ 0 2$"$.Ŵ,/3Ŵ(/-)")#)/3Ğ ŢŴ .Ŵ$,Ŵ0$2 /#/ŴĔĒĒęŴĽŴĔĒĒĜğŴ,/3Ŵ "")#$.ļ 4$3Ŵ#$Ŵ42<.3)4/Ŵ( .Ŵ3)#/Ŵ, Ŵ02).")0 ,Ŵ" 53 Ŵ #$Ŵ-5$24$Ŵ$.Ŵ$,Ŵ" .4.Ğ ŢŴ Ŵ4$.#$.") Ŵ#$Ŵ, Ŵ4 3 Ŵ0/2Ŵ "")#$.4$3Ŵ #$Ŵ42<.3)4/Ŵ$3Ŵ"/.34 .4$ĞŴ /2Ŵ/42/Ŵ, #/ğŴ ,/3Ŵ35)")#)/3Ŵ( .Ŵ/"50 #/Ŵ$,Ŵ3$&5.#/Ŵ ,5& 2Ŵ"/-/Ŵ" 53 Ŵ#$Ŵ-5$24$Ŵ0/2Ŵ2 :/ļ .$3Ŵ$84$2. 3ĞŴŢŴ !$Ŵ3$« , 2Ŵ15$Ŵ4 .4/Ŵ , 3Ŵ4 3 3Ŵ#$Ŵ35)")#)/Ŵ"/-/Ŵ, 3Ŵ4 3 3Ŵ#$Ŵ (/-)")#)/3Ŵ3)Ŵ!)$.Ŵ./Ŵ( .Ŵ3)#/Ŵ, Ŵ02).")ļ 0 ,Ŵ" 53 Ŵ#$Ŵ-5$24$ğŴ$.Ŵ,/3Ŵ×,4)-/3Ŵ «/3Ŵ Ŵ)#/Ŵ$.Ŵ 5-$.4/ĞŴŢŴ /- #/Ŵ#$Ŵ, Ŵ 5 Ŵ !3$26 4/2)/Ŵ#$Ŵ $&52)# #Ŵ )5# # . Ğ
ŋŋŋ ŋ )Ąþą Ąŋüþŋ ŋ ŋ ŋŋ ąŋ üăĂÿĚāĂĀĄ ŋŋŋŋ ŋ )Ąûą ŋŋ ŋŋ u ą üăĂüĚĀûĂĄ ŋ )Ąüą Ąŋ
ŋŋ ŋ
ŋ ŋĄ ąŋŋüăĂþĚāûúĄ ŋŋ )Ąýąŋ ŋŋ Ąŋŋ ŋŋ u ąŋ üăĂüĚāþûĄ
ēũ #ũ1# +(9 -ũ! , (.2ũ #-ũ+ ũ34 #1~ ũ"#ũ %4 ũ/.3 +#ũ/ 1 ũ #5(3 1ũ,;2ũ" .2ēũ
^ ũ ũ ũ Ë
.+(!~ ũ ĒđćıĊČĎ ., #1.2ũ ĒđćıĉĉĒ 149ũ .) ũũũũũũũũũũũũũũũũũũũũũũũũũũũũũĒđćıĈćć -!.ũ"#ũ -%1#ũũũũũũũũũũũũũũũĒđćıĐĐĐ .2/(3 +ũ ĒđćıĊĈď . #1- !(¢-ũ ũĒđćıĊćĈ -3#-"#-!( ũ ĒđćıĐĒĈ .+(!~ ũ 4"(!( +ũ ũũũĒđćıďČĊ 1;-2(3.ũ ũĒđćıĊćĊ (%1 !(¢-ũũũũũũũũũũũũũũũũũũũũũũũũũũũũũũĒđĎıđĈĒ -3(- 1!¢3(!.2ũ ũũũũũũũũũũũũĒďćıĈďĉ
ũ ũ ũ ũ ũũ ũũ ũĈČć ũũũũũũũũũũũũũũũũũũũũũũũũũũũũũũũĉĒďıČĒĐ ( 1(.ũ ũ .1 ũũũũũũũũũũũũũũũũũũũũĉĒđČıďČď
Ĺ? Ĺ?
Ĺ?
Ä Ä‰
g Ĺ? g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
#1#" ĹŠ"#2!4(" " ĹŠ
Ĺ—ĹŠĹŠĹŠ
ĹŠ ŊěŊ;d bW [igk_# dW Z[ bW YWbb[ IkYh[ o (- Z[ I[fj_[cXh[ [n_ij[ kd i_\ÂŒd jWfedWZe Z[ Wh[dW Wi‡ Yece bW l[h[ZW f[hcWd[Y[ Z[i# Yk_ZWZW o bb[dW Z[ ^_[hXW$ Bei ^WX_jWdj[i ieb_Y_jWd gk[ bWi Wkjeh_ZWZ[i h[Wb_Y[d bei jhWXW`ei Yehh[ifedZ_[dj[i W Ă’ d Z[ ZWh kdW Xk[dW _cW][d W bW Yeckd_ZWZ$
4-"(,(#-3.ĹŠ "#ĹŠ ".04(-#2ĹŠ
Ĺ—ĹŠĹŠĹŠ
Ŋ ŊěŊ;d bWi fh_dY_# fWb[i Whj[h_Wi Z[ IWd =WXh_[b i[ [dYk[djhWd bWi YWbb[i Yed ^kdZ_c_[djei Z[ bei WZegk_# d[i$ Kde Z[ [ijei YWiei" [i [b gk[ i[ h[]_ijhW [d bW YWbb[ IkYh[$ 7‘d i[ Z[iYedeY[ bWi YWkiWi Z[ [ij[ _dYedl[d_[dj[$ FWhW kdei Yh[[d gk[ [i [b YebWf# ie Z[ bWi WbYWdjWh_bbWi fWhW ejhei [b fWie Z[ Wkjecejeh[i f[iWZei$
ēŊ .2Ŋ;1 .+#2Ŋ04#Ŋ2#Ŋ!.+.! 1.-Ŋ#-Ŋ2(3(.2Ŋ#231 3_%(!.2Ŋ"#Ŋ+ Ŋ!(4" "Ŋ"#Ŋ -Ŋ 1(#+Ŋ$4#1.-Ŋ %1#"(".2ēŊ #Ŋ/("#Ŋ Ŋ+ Ŋ/. + !(¢-ĔŊ"#-4-!( 1Ŋ#23.2Ŋ'#!'.2ēŊ #Ŋ(-(!( 1.-Ŋ !.-Ŋ+ 2Ŋ(-5#23(% !(.-#2ēŊ
-.,/3 (Ĺ‹ -* #)-Ĺ‹0 , #ĹŠ(-(!( ĹŠ!.-ĹŠ+ ĹŠ (-5#23(% !(¢-ĹŠ ĹŠ ÄƒĹŠ-ĹŠ"#ĹŠ" 1ĹŠ!.-ĹŠ+.2ĹŠ 1#2/.-2 +#2ĹŠ"#ĹŠ +.2ĹŠ'#!'.2ēŊ ĹŠ ěŊKd cehWZeh Z[dkd# Y_ÂŒ W bWi Wkjeh_ZWZ[i ckd_Y_fW# b[i gk[ kdW ck`[h jejWbc[dj[ YkX_[hjW ik heijhe" _d]h[iÂŒ ^WijW kde Z[ bei fWhgk[i" [d ^ehWi Z[ bW deY^[ o Yec[dpÂŒ W Z[ijhk_h bei |hXeb[i i_d d_d]‘d cej_le$ 7 f[iWh Z[ gk[ [b cehWZeh ie# b_Y_jÂŒ gk[ de ^W]W ZW‹e" bW ck`[h i_]k_ÂŒ [d [ijW _d]hWjW jWh[W Z[ YehjWh bWi hWcWi Z[ bei |hXeb[i gk[ [cX[bb[Y[d bW Y_kZWZ$
&Ĺ‹ ) &. &Ĺ‹ *, * , Ĺ‹-/-Ĺ‹ -.#0# -Ĺ‹
7b cec[dje" bW Z[dkdY_W h[feiW [d [b :[fWhjWc[dje Z[b 7cX_[dj[ o bW 9ec_iWh‡W Ckd_# Y_fWb W Ă’ d Z[ gk[ i[ fheY[ZW Wb jh|c_j[ Yehh[ifedZ_[dj[$ CWhY[bW 9^kbZ[" kdW ^WX_# jWdj[ Z[b YWdjÂŒd WĂ’ hcÂŒ gk[ bW# c[djWXb[c[dj[ ^Wo ][dj[ gk[ de WcW W ik j_[hhW$ Æ>Wo kdW \WbjW Z[ YkbjkhW$ Bei jkh_ijWi ied gk_[d[i dei l_i_jWd o Z[X[cei Yk_ZWh be dk[ijheÇ$ #ĹŠ(-(!( ĹŠ(-" % !(¢-ĹŠ
;Z_ied IWh|kp" Z_h[Yjeh Z[b :[# fWhjWc[dje Z[ 7cX_[dj[ Z[b Ckd_Y_f_e Z[ Cedj‘\Wh WĂ’ hcÂŒ Yed ckY^e f[iWh gk[ [ijei ^[# Y^ei i[ _dYh[c[djWhed [d jeZW bW Y_kZWZ$ FWhW Wgk[bbe" f[Z_h| gk[ f[hiedWb ckd_Y_fWb [ijƒ [dYk#
.23.2ĹŠ +3.2ĹŠĹŠĹŠ #2"#ĹŠ)4-(.ĹŠ"#+ĹŠ  .ĹŠ/ 2 ".ĔŊ#+ĹŠ,4-(!(/(.ĹŠ"#ĹŠ .-3ĂŒ$ 1ĹŠ'(9.ĹŠ+ ĹŠ#-31#% ĹŠ"#ŊĉŊÄ?ććŊ Ĺ—;1ĹŠ .+#2ĹŠ.1- ,#-3 +#2ĹŠ/ 1 ĹŠ" 1ĹŠ4- ĹŠ 4#- ĹŠ(, %#-ĹŠ ĹŠ+ ĹŠ!(4" "ĔŊ#-ĹŠ#2/#!( +ĔŊ#-ĹŠ +.2ĹŠ2#!3.1#2ĹŠĹŠ"#+ĹŠ # 31.ĹŠ 4-(!(/ +ĔŊ #1,(- +ĹŠ #11#231#Ä”ĹŠÄˆÄŠĹŠ"#ĹŠ 1(+ĹŠ8ĹŠ#2! +(- 3 ĹŠ"#+ĹŠ !#,#-3#1(.ēŊŊ .-ĹŠ "04(1(".2ĹŠ ĹŠ5(5#1.2ĹŠ/ 13(!4+ 1#2ēŊ ÄƒĹŠ1,¢Ŋ04#ĹŠ#+ĹŠ!.23.ĹŠ"#ĹŠ#23.2ĹŠ;1 .+#2ĔŊ5 -ĹŠ "#ĹŠ!(-!.ĹŠ ĹŠ04(-!#ĹŠ"¢+ 1#2ēŊ -ĹŠ#+ĹŠ/1¢7(,.ĹŠ  .ĔŊ2#ĹŠ2#%4(1;ĹŠ "#!4 -".ĹŠ+.2ĹŠ#2/ !(.2ĹŠ 5#1"#2ēŊ
X_[hje fWhW i[]k_h W bei YkbfW# Xb[i o ^WY[h h[ifediWXb[i Z[ bei ZW‹ei YWkiWZei$ Æ;n_ij[ kdW ehZ[dWdpW gk[ h[]kbW bW kj_b_# pWY_ÂŒd o cWdj[d_c_[dje Z[ bWi |h[Wi l[hZ[i o fWhgk[i h[Yh[W# j_leiÇ$ Ieb_Y_jÂŒ W bWi f[hiedWi W Z[# dkdY_Wh W gk_[d[i ^W]Wd ZW‹e W bei fWhgk[i o `WhZ_d[i$ FWhW Wgk[bbe" i[ ]kWhZWh| WXiebkjW
h[i[hlW$ I[ f_Z[ YedjWYjWhi[ W bei j[bƒ\edei0 (/&#'() e Wb Y[bk# bWh &/'/(,-+/ Z[b :[fWhjWc[d# je Z[ 7cX_[dj[$ 7i‡ c_ice" je# cWh YedjWYje Yed bW 9ec_iWh‡W Ckd_Y_fWb e [b 9k[hfe Z[ 8ec# X[hei$ De i[ Z[iYWhjW gk[ [d bei fhŒn_cei Z‡Wi i[ Z[ kdW h[Yec# f[diW W gk_[d Z[dkdY_[ ieXh[ [ijei ^[Y^ei$
Z[ bW Yeckd_ZWZ W fWhj_h Z[ bWi &-0&&$ 7 bWi '&0&&" fh[]Œd Z[ \_[ijWi$ ')0&&" jkXX_d]$ '*0&& \[h_W W]h‡YebW o ]WijhedŒc_YW Yed fh[i[djWY_Œd Z[ ZWdpWi o ]hkfei Whj‡ij_Yei$ 7 bWi '+0&&" jehd[e Z[ Y_djWi [d ceje$ '/0&& fh[i[djWY_Œd Z[ Whj_ijWi beYWb[i o XW_b[ fefkbWh$
Ŋ ěŊ BW fWhhegk_W ;b =eW#
 .Ŋ#-Ŋ+ 2Ŋ/ 1#"#2Ŋ
Ĺ—ĹŠĹŠĹŠ
Ŋ Ŋě;d bW YWhh[hW Bei 7dZ[i [igk_dW Z[ bW YWbb[ IkYh[" Wb]kdWi YWiWi \k[hed W]h[Z_ZWi Wb i[h f_djWZWi Yed c[diW`[i feYe W]hWZWXb[i$ BWi Wkjeh_ZWZ[i Z[X[h|d h[Wb_pWh [b i[]k_c_[dje Yehh[ifedZ_[dj[ o iWdY_edWh W [ijei cWbei Y_kZWZWdei gk[ Wfhel[Y^Wd bW deY^[ fWhW Yec[j[h [ijei _b‡Y_jei$
bjWb [d [b YWdjÂŒd ;if[`e Ykcfb[ ,( W‹ei Z[ l_ZW$ FWhW Wgk[bbe" i[ fh[fWhW kdW i[h_[ Z[ [l[djei gk[ i[ _d_Y_Wd Z[iZ[ [b ', Z[ Z_# Y_[cXh[ o YedYbko[ [b (- Z[b c_i# ce c[i$ Ik fh[i_Z[dj[ xZ_ied IWdZe# lWb" h[Wb_pW bW YehZ_Wb _dl_jWY_ÂŒd W bei jkh_ijWi fWhW gk[ i[ Z[d Y_jW W [ij[ i[Yjeh [d ZedZ[ i[ e\h[Y[ kdW i[h_[ Z[ [l[djei$ FWhW [b l_[hd[i ', Z[ Z_Y_[c# Xh[ [d bW Yeckd_ZWZ Æ=kWbY^|dÇ" i[ h[Wb_pWh| [b [cXWdZ[hWc_[dje
#114, .ĹŠ"#ĹŠ/ 1#"ĹŠ
ĹŠ ĹŠ Ä–ĹŠ ĹŠ
ĹŠ ĹŠ
ēŊ 23#Ŋ5(#1-#2ĔŊ+ Ŋ!.Ĺ ,4-(" "Ŋ"#Ŋ 4 +!';-Ŋ#-Ŋ+ Ŋ/ 11.04( Ŋ +Ŋ . +3 +Ŋ2#Ŋ5(23#Ŋ"#Ŋ!.+.1(".ēŊŊ
-Ŋ 1(#+ĖŊ -Ŋ+ Ŋ! ++#Ŋ .+¢-Ŋ2#Ŋ/1."4).Ŋ4-Ŋ"#114, .Ŋ"#Ŋ+ Ŋ/ 1#"Ŋ $1#-3#Ŋ +Ŋ/ 104#Ŋ"#Ŋ+ Ŋ, "1#ēŊ 23 Ŋ/ 1#"ĔŊ#-Ŋ"~ 2Ŋ -3#1(.1#2ĔŊ#2345.Ŋ /.1Ŋ! #12#ēŊ .1Ŋ+ 2Ŋ$4#13#2Ŋ++45( 2Ŋ2#Ŋ$4#Ŋ +Ŋ24#+.Ŋ8Ŋ +Ŋ,.,#-3.Ŋ . 23 !4+(9 Ŋ#+Ŋ/ 2.Ŋ-.1, +Ŋ"#Ŋ+.2Ŋ/# 3.-#2ēŊ
g Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
Ä ÄŠ
ēŊ + -3 2Ŋ8Ŋ/ +.2Ŋ04#, ".2Ŋ. 23 !4+(9 -Ŋ+ Ŋ5~ ē
,, ,)(Ĺ‹& Ĺ‹* ( ' ,# ( Ĺ‹ * , Ĺ‹* #,Ĺ‹+/ Ĺ‹& -Ĺ‹ 0/ &0 (Ĺ‹ +ĹŠ 43.,.3.1ĹŠ$4#ĹŠ! /341 ".ĹŠ!.-ĹŠ,#1Äą ! "#1~ ĹŠ04#ĹŠ-.ĹŠ3#-~ ĹŠ+ ĹŠ".!4,#-3 !(¢-ĹŠ +#% +ĹŠ"#ĹŠ(,/.13 !(¢-ēŊŊ ĹŠ ěŊ BW dehcWb Y_hYkbWY_ÂŒd
[d bW FWdWc[h_YWdW Dehj[" i[Y# jeh 9Whfk[bW" i[ l_e Wbj[hWZW bW cW‹WdW Z[ Wo[h ZkhWdj[ lWh_Wi ^ehWi$ ;hWd Wfhen_cWZWc[d# j[ bWi &/0&& YkWdZe lWh_ei Ye# ckd[hei Z[ bW pedW Xbegk[Whed bW l‡W Yed bbWdjWi o fWbei fWhW fhej[ijWh [d ieb_ZWh_ZWZ Yed kd l[Y_de Z[b i[Yjeh$ 7i[]khWd [ij| i_[dZe ]hWl[c[dj[ W\[YjWZe feh kdW h[iebkY_Œd Z[ kd <_iYWb Z[b 9WhY^_$ BW c[Z_ZW gk[ _d_Y_e Yece fh[l[dj_lW i[ Z_iebl_Œ fWiWZe [b c[Z_eZ‡W$ Bei cWd_\[ijWdj[i gk_i_[hed ^WXbWh Z_h[YjWc[dj[ Yed [b Fh[i_Z[dj[ HW\W[b 9ehh[W" Wfhel[Y^WdZe ik fWhWZW [d IW#
b_dWi feh bW h[_dWk]khWY_ÂŒd Z[b \[hheYWhh_b [d [b jhWce ?XWhhW# IWb_dWi$ De Yedi_]k_[hed ^WY[hb[ bb[]Wh Z_h[YjWc[dj[ ik f[Z_Ze$
.2ĹŠ1#!+ ,.2
Bei cWd_\[ijWdj[i [n_][d gk[ [b <_iYWb Z[ 9WhY^_" Hegk[ =eo[i" fh[ij[ Wj[dY_Œd Wb fheXb[cW Z[ @edWj^Wd 8[hdWhZe :[b]WZe" gk_[d [ij| W fkdje Z[ i[h [d`k_# Y_WZe o de fk[Z[ jhWXW`Wh Yed dehcWb_ZWZ Z[iZ[ `kd_e Z[ [ij[ W‹e$ @edWj^Wd [nfb_YW YŒce Yed ckY^e [i\k[hpe iWYŒ kd YWc_Œd W YhƒZ_je" fW]WdZe YkejWi Z[ c_b +&& ZŒbWh[i c[dikWb[i fWhW Z[# Z_YWhi[ W bW jhWdifehjWY_Œd$ ;b ',
ēŊ (ĹŠ3(#-#ĹŠ +%ĂŒ-ĹŠ ĹŠ(-$.1, !(¢-ĹŠ "#+ĹŠ/ 1 "#1.ĹŠ"#ĹŠ 1 -*+(-ĹŠ 1!(2.ĹŠ (- ĹŠ + 2ĹŠ!.,4-~04#2#ĹŠ +ĹŠ3#+_$.-.ĹŠ"#ĹŠ24ĹŠ 3~ ĹŠ (+5( ēŊŊćĒÄ?Ä‘Ä’Ä‰ĹŠÄ’ÄˆÄŒÄ“
FWjh_Y_e 9$" gk[ [d kdW l[hi_Œd _d_Y_Wb Wi[]khŒ gk[ l_e W ik fh_# ce ieXh[ [b fk[dj[ Z[b h‡e C_hW" f[he Z‡Wi c|i jWhZ[" iŒbe WZc_# j_Œ ^WX[hbe l_i_je Y[hYW Wb i[Yjeh$ Bei \Wc_b_Wh[i Z[b Z[iWfWh[# Y_Ze [ij|d ikcWc[dj[ Wd]ki# j_WZei feh bW ik[hj[ Z[b `el[d$ KdW ck`[h YkhWdZ[hW Z[b i[Yjeh b[i ^WXh‡W Z_Y^e gk[ <hWdab_d i[ [dYk[djhW [dj[hhWZe kd a_bŒc[# jhe WZ[djhe ZedZ[ \k[ ^WbbWZe ik fWdjWbŒd$ >eo" i_ [b Yb_cW be f[hc_j[" [b =E; Yedj_dkWh| bei jhWXW`ei Z[ X‘igk[ZW$
$ ;d bW f_ijW Z[ Wl_W#
Y_ÂŒd i[ fheZk`e kd _dY[dZ_e" bW f[eh fWhj[ bW bb[lÂŒ bW l[hZ[ l[][jWY_ÂŒd gk[ gk[ZÂŒ [d Y[d_pWi$ Bei fhef_[jWh_ei Z[ bWi YecfW‹‡Wi Z[ \kc_]WY_ÂŒd gk[ [ij|d Yeb_dZWdj[i W Zed# Z[ ikY[Z_ÂŒ [b ^[Y^e" cWd_\[i# jWhed gk[ b[i [djhÂŒ [b f|d_Ye oW gk[ [b \k[]e i[ [dYedjhWXW Y[hYW o Yece [d bW [ijWY_ed[i j[d‡Wd YecXkij_Xb[" [b Ă“ W][be i[ feZ‡W Yedl[hj_h [d Wb]e Z[ cWoeh[i fhefehY_ed[i$ I[ YWbYkbW kd |h[W Z[ '&& c[jhei gk[cWZW$
"#+ĹŠÄ‰Ä‡Ĺ˜ĹŠ"#+ĹŠ3.3 +ĹŠ"#ĹŠ+ ĹŠ,#1! "#1~ ĹŠ(-! 43 " ĹŠ/ 1 ĹŠ1#!4/#1 1ĹŠ24ĹŠ! ,(¢-ēŊ 23.ĹŠ #04(5 +#ĹŠ ĹŠÄŒÄ‡ĹŠ,(+ĹŠ"¢+ 1#2ĹŠ04#ĹŠ#+ĹŠ $#!3 ".ĹŠ 2#%41 ĹŠ-.ĹŠ"(2/.-#1ĹŠ"#ĹŠ-(-%4- ĹŠ$.1, ēŊ +ĹŠ! ,(¢-ĹŠ-4#5.ĹŠ"#ĹŠ!.-3 ".ĹŠ3(#-#ĹŠ#+ĹŠ,(2,.ĹŠ5 +.1ēŊ +ĹŠ (2! +ĹŠ .04#ĹŠ .8#2ĔŊ-.ĹŠ04(2.ĹŠ #-31#% 1ĹŠ-(-%4- ĹŠ"#!+ 1 !(¢-ĹŠ ĹŠ#23#ĹŠ1.3 3(5.ĹŠ 1%4,#-3 -".ĹŠ04#ĹŠ-.ĹŠ!.-!#"#ĹŠ #-31#5(23 2ĹŠ/.1ĹŠ5~ ĹŠ3#+#$¢-(! Ä“
.2ĹŠ, -($#23 -3#2ĹŠ 2#%41 -ĹŠ5.+5#1ĹŠ ĹŠ!#11 1ĹŠ+ 2ĹŠ5~ 2ĹŠ#-ĹŠ 1/4#+ ĹŠ' 23 ĹŠ04#ĹŠ+ 2ĹŠ 43.1(" "#2ĹŠ2.+4!(.-#-ĹŠ#+ĹŠ/1. +#, ĹŠ8ĹŠ+#ĹŠ/#1,(3 -ĹŠ ĹŠ#23#ĹŠ'., 1#ĹŠ!.-3(-4 1ĹŠ31 Äą ) -".ĹŠ8ĹŠ2.23#-#1ĹŠ ĹŠ24ĹŠ$ ,(+( Ä“
Z[ `kd_e Z[ [ij[ W‹e" ik Y^e\[h h[Ye]_Œ kdW c[hYWZ[h‡W [d bW Y_kZWZ Z[ JkbY|d Yed Z[ij_de W Gk_je$ Bei Zk[‹ei Z[ bW c[hYWZ[h‡W b[ Wi[]khWhed gk[ bei pWfWjei" hefWi" f[h\kc[i o b_Yeh[i gk[ _XW W jhWdifehjWh j[d‡Wd jeZei bei ZeYkc[djei [d h[]bW$ I_d [cXWh]e" [d [b Yedjheb
WZkWd[he Z[ IWd =WXh_[b" bei W][dj[i Z[ bW 7ZkWdW Z[j[YjWhed WdehcWb_ZWZ[i [d bW Z[YbWhWY_Œd Z[ YWh]W$ Bei Zk[‹ei Z[ bW c[hYWZ[# h‡W" gk_[d[i _XWd [d kd l[^‡Ykbe fWhj_YkbWh Z[bWdj[ Z[b YWc_Œd ^ko[hed Z[b bk]Wh$ De b[i _cfeh# jŒ f[hZ[h bW c[hYWZ[h‡W o de i[ iWX[ dWZW c|i Z[ [bbei$
) ŋ (ŋ/(ŋ &' Z(ŋ3ŋ / ŋ . (#
, (%&#(ąŋÝÝŋ v -Ĺ‹ Ĺ‹'#-. ,#)- Ĺ‹ - * ,# #š( ;b fWiWZe Zec_d]e" * Z[ Z_Y_[c# Xh[" <hWdab_d C_dW" \k[ l_ije feh ‘bj_cW l[p Yed l_ZW feh iki \W# c_b_Wh[i" Wc_]ei o l[Y_dei [d [b YWi[h‡e ()+" f[hj[d[Y_[dj[ W bW Yeckd_ZWZ DWhWd`_je" i[Yjeh IWd @[hÂŒd_ce$ ?d\hkYjkeiWi ^Wd h[ikbjWZe bWi ef[hWY_ed[i Z[ X‘igk[ZW [cfh[dZ_ZWi feh [b 9k[hfe :[ 8ecX[hei o [b =hkfe Z[ Ef[hW# Y_ed[i ;if[Y_Wb[i Z[ bW Feb_Y‡W" fWhW ZWh Yed ik fWhWZ[he$ BW \Wc_b_W Z[ <hWdab_d" `kdje W bW Yeckd_ZWZ jWcX_ƒd h[Wb_pÂŒ X‘igk[ZWi ^WijW [b i[Yjeh Z[b =kWZkWb" f[he de ^Wo hWijhei Z[b `el[d Z[ (* W‹ei" iWble [b fWdjWbÂŒd gk[ bb[lWXW fk[ije [iW deY^[$ BW ‘bj_cW f[hiedW gk[ l_e Yed l_ZW W <hWdab_d" [i ik fh_ce
;2ĹŠ"#3 ++#2 Ĺ—ĹŠĹŠ +ĹŠ! ,(¢-ĹŠ"#ĹŠ .- 3' -ĹŠ ēĔŊ#23;ĹŠ"#3#-(".ĹŠ"#2"#ĹŠ)4-(.ĹŠ#-ĹŠ#+ĹŠ"#23 ! ,#-3.ĹŠ "4 -#1.ĹŠ"#ĹŠ '4 1!.!' ēŊ #ĹŠ+#ĹŠ#7(%#ĔŊ2#%ĂŒ-ĹŠ#+ĹŠ!¢"(%.ĹŠ"#ĹŠ+ ĹŠ/1."4!!(¢-ĔŊ#+ĹŠ/ %.ĹŠ
-!#-"(.ĹŠ$.1#23 +ĹŠ ! 42.ĹŠ/;-(!.
KdW ck`[h Z[ '. W‹ei Z[ [ZWZ" \k[ YWfjkhWZW feh Feb_Y‡Wi ceje# h_pWZei [b fWiWZe cWhj[i" YkWdZe i[ ikijhW‡W kdW j[b[l_i_Œd B9: Z[ '/ fkb]WZWi Z[ kd WbcWYƒd Z[ [b[YjheZecƒij_Yei [d fb[dW YWbb[ I|dY^[p o 9_\k[dj[i o 9ebŒd$ ;hWd Wfhen_cWZWc[dj[ bWi '.0&&" YkWdZe Wb _dj[h_eh Z[b be# YWb" bW f[hiedW gk[ Wj_[dZ[" fhe# Y[Z_Œ W h[Wb_pWh kdW \WYjkhW W kd Yb_[dj[$ AWj^[h_d[ =$" bW ieif[Y^eiW" Wfhel[Y^Œ bW i_jkWY_Œd fWhW [i# YedZ[h [d kdW Y^ecfW Z[ Yk[he Yebeh YW\ƒ" bW j[b[l_i_Œd dk[lW gk[ [ijWXW [d ik YW`W eh_]_dWb$ BW `el[d ck`[h ^koŒ Yed [b Whj[\WYje feh [b 9[djhe 9ec[h# Y_Wb FWiW`[ ?XWhhW$ ;b Zk[‹e Z[b beYWb Yec[hY_Wb b[ Z_e WbYWdY[ o b[ [n_]_Œ gk[ Z[iYkXhW be gk[ jhW‡W eYkbje [d bW Y^ecfW$ ;\[Yj_lW#
#ĹŠ/#% 1.-ĹŠÄˆÄ‡ĹŠ3(1.2ĹŠ !#1! ĹŠ"#ĹŠ24ĹŠ! 2
}$ Ik`[jei Z[iYedeY_#
Zei" gk[ l_W`WXWd W XehZe Z[ kd WkjecŒl_b XbWdYe" b[ Z[i# YWh]Whed kdW h|\W]W Z[ XWbWi W 8hWdZb[o IehdepW$ I[]‘d bei \Wc_b_Wh[i Z[b \Wbb[Y_Ze" Z[iZ[ j[cfhWde i[_i ik`[jei W XehZe Z[ jh[i cejei Wd# ZWXWd ZWdZe lk[bjWi feh [b i[Yjeh Z[ cWd[hW ieif[Y^e# iW" fei_Xb[c[dj[ jhWjWdZe Z[ beYWb_pWh W ik l‡Yj_cW$
.ĹŠ' ++ 1.-ĹŠ/.1ĹŠ242ĹŠ 9 / 3.2ĹŠ"#/.13(5.2
$ Bei pWfWjei Z[fehj_#
ēŊ .2Ŋ+.! +#2Ŋ!.,#1Ĺ !( +#2Ŋ"#+Ŋ!#-31.Ŋ"#Ŋ 11 Ŋ2.-Ŋ4-Ŋ !.-23 -3#Ŋ + -!.Ŋ"#Ŋ+.2Ŋ+ "1.-#2Ŋ 04#Ŋ /1.5#!' -Ŋ#+Ŋ,~-(,.Ŋ"#2!4(".Ŋ / 1 Ŋ' !#1Ŋ"#Ŋ+ 2Ŋ248 2ē
c[dj[" bW ck`[h bb[lWXW Yedi_]e bW B9:$ AWj^[h_d[ =" gk_[d de fh[i[d# jW Wdj[Y[Z[dj[i" \k[ bb[lWZW ^WijW bei YWbWXepei Z[b 9:F ^WijW gk[ Yedj_d‘[d bWi _dZW]WY_ed[i$
lei XbWdYei Z[ @eiƒ JWXWd]e" f[hc_j_[hed W iki \Wc_b_Wh[i iWX[h gk[ ik YWZ|l[h i[ [d# YedjhWXW *+ c[jhei Wb \edZe Z[ kdW gk[XhWZW Yedj_]kW W bW l‡W Wdj_]kW gk[ YedZkY[ W bW feXbWY_Œd Z[ =kWbe$ Bei Z[kZei XkiYWXWd Wb ^ecXh[ Z[ )- W‹ei Z[iZ[ bW deY^[ Z[b fWiWZe ) Z[ Z_Y_[cXh[$ 9ed i[‹Wi Z[ ^WX[hi[ ]eb# f[WZe bW YWX[pW" [b Yk[hfe Z[ JWXWd]e \k[ h[iYWjWZe feh c_[cXhei Z[b =hkfe Z[ Ef[hWY_ed[i ;if[Y_Wb[i$
ŏ ŏ
ŏ ŏ ŏ
ŏ
Ė Ė
ũ }
.,/1 ĵ5#-3 ĵ1#-3 ũ"#ũ3#11#-.2Ĕũ 2 2ĵă ũ-! ĵ!.,/1 ĵ5#-3 ĵ"#ı ! 2 2Ĕũ"#/ 13 ,#-3.2ũ8ũ.ăũ!(- 2ē / 13 ,#-3.2ĵ 11(#-".2ē
.,/1 ĵ5#-3 ũ"#ũ3.".ũ3(/.ũ"#ũ .,/1 ĵ5#-3 ũ"#ũ3.".ũ3(/.ũ"#ũ 5#'~!4+.2 5#'~!4+.2
ĂĀ
4#23.2Ĕũ./.134-(" "#2ũ"#ũ .,/1 ĵ5#-3 ĵ! , (.ē 31 ).ē ũũ 4#23.2Ĕũ./.134-(" "#2ũ"#ũ #15(!(.2ũ!412.2Ĕũ!.-2314!!(¢-Ĕũ 31 ).ũē !.-24+3.1~ ē
0%!),+ 0%!),+ 0%!),+ (! 01. (! 01. (! 01. āĆŏ)%*ċ āĆŏ)%*ċ āĆŏ)%*ċ
^ :
āąŏ ŏ ŏĂĀāā āąŏ ŏ ŏĂĀāā ĂĂŏ ŏ ŏĂĀĀĉ
ŏ +. ŏ
ŏ +. ŏ
ġ ġ ġ
.,/1 ĵ5#-3 ũ"#ũ. )#3.2Ĕũ#+#!31.ı .,/1 ĵ5#-3 ũ"#ũ. )#3.2Ĕũ#+#!ı ".,_23(!.2Ĕũ,4# +#2Ĕũ.ă ũ!(- ēũ#3!ē
-Ì-!( 3#ũ +Ėũũũ
ı
04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ .! $4#1#ēũ #+ĖũĉĒĎďĎćĉĔũĉďćĐďĉĎũ 7Ėũ ĉĉĉČćďũ 7ĖũĉĉđĒĈđ ĉďĈĉďďĈ %#-!( ĉĖũ +#,#-3#ũ .-!#ũĉĈĒũ8ũ 4+!;-Ėũ 4!1#ũ#-31#ũ 8 !4!'.ũ8ũ 4-~-ı (#"1 '(3 ēũ 7ĖũĎďćĐĊČ #+ĖũĉĒđČĎĎĈē ũ 7ĖũĉĒđČďČď %#-!( ĊĖũ 1#- 2ũĉĉćũ8ũĈćũ"#ũ %.23.ũ ĎŖũ (2.ũ #+ĖũĎććĉČĎĔũĎĎĎČĊćĔũĎĎĎČĊĈĔũ ĎĎĈĎĎĉē + -3 ũ "(3.1 Ėũ - ,#1(! - ũ .13#ũ %#-!( ĈĖ ũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ ũĊēĎũ #+ĖũČĐĎĐĉĊĔũČĐĎĐĉČĔũČĐĎĐĉĎĔũ 04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ ČĐĎĐĉďĔũČĐĎĐĉđē ĉĉĉČćďũ 7ĖũĉĉđĒĈđ
04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ .+~5 1ũ8ũ .! $4#13#ēũ #+ĖũĊũĉũČĉĈũĐĊć ĉĉĉČćďũ 7ĖũĉĉđĒĈđ 7ĖũĊũĉũČĉĈũĐĊĈ
04#" -.ũ #+ĖũĎćĊĉďďĔũ -3 ēũ #+ĖĎũĉĒĊĈćĒĈē %#-!( ĉĖũ +#,#-3#ũ .-!#ũĉĈĒũ8ũ %#-!( ũ -3 Ėũ 5ēũ 4 13 Ĕũ#-31#ũ! ++#ũ (#"1 '(3 ēũ 7ĖũĎďćĐĊČ đũ8ũĒēũ #+$ĖũĎũĉũďĉĉĎđĈĔũĎũĉďĉČĎđĎē + -3 ũ "(3.1 Ėũ - ,#1(! - ũ .13#ũ %#-!( ũ '.-#Ėũ ++#ũ .+~5 1ũ#-31#ũ (ı ũĊēĎũ #+ĖũČĐĎĐĉĊĔũČĐĎĐĉČĔũČĐĎĐĉĎĔũ !'(-!' ũ8ũ .+¢-Ĕũ "ēũ _+#9ũĊ#1ũ (2.ēũ #+Ėũ ČĐĎĐĉďĔũČĐĎĐĉđē ĎũĉďĒďũćĈĈē
%#-!( ĈĖũ ++#ũ 4(3.ũ ũćĉıČĎũ#-31#ũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ %#-!( ĈĖũ
ũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ %#-!( ĈĖ 11 Ėũ ++#ũ #)~ ũĊĎćũ#-31#ũ 4!1#ũ8ũ
%#-!( ĉĖũ +#,#-3#ũ .-!#ũĉĈĒũ8ũ + -3 ũ "(3.1 Ėũ , 41 ũĈĎđČũ8ũĈđũ
(#"1 '(3 ēũ 7ĖũĎďćĐĊČ "#ũ .5(#, 1#Ĕũ "(ăũ!(.ũ .5(2 ēũũ #+$ĖũĐũ %#-!( ĊĖũ 1#- 2ũĉĉćũ8ũĈćũ"#ũ %.23.ũ ĉĎĐĐćĒĒĔũĐũĉĎđĎũđćĎē ĎŖũ (2.ũ #+ĖũĎććĉČĎĔũĎĎĎČĊćē 7ĖũĐũĉĎĐđđČđ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ %#-!( ĈĖũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ
ı (#"1 '(3 ēũ 7ĖũĎďćĐĊČ %#-!( ĈĖũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ %#-!( ĊĖũ 1#- 2ũĉĉćũ8ũĈćũ"#ũ %.23.ũ 04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ ĎŖũ (2.ũ #+ĖũĎććĉČĎĔũĎĎĎČĊćĔũĎĎĎČĊĈĔũ ĉĉĉČćďũ 7ĖũĉĉđĒĈđ ĎĎĈĎĎĉē %#-!( ĈĖũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ + -3 ũ "(3.1 Ėũ - ,#1(! - ũ .13#ũ 04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ ũĊēĎũ #+ĖũČĐĎĐĉĊĔũČĐĎĐĉČĔũČĐĎĐĉĎĔũ ĉĉĉČćďũ 7ĖũĉĉđĒĈđ ČĐĎĐĉďĔũČĐĎĐĉđē
%#-!( ĈĖũ ~!3.1ũ 1 ,(+.ũ 231 " ũđĈũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ %#-!( ĈĖũ
%#-!( ĉĖũ +#,#-3#ũ .-!#ũĉĈĒũ8ũ
%#-!( ĈĖũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ + -3 ũ "(3.1 Ėũ .13.5(#).ũ ,ũČĔĎũ5~ ũ ũ
04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ 04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ ĉĉĉČćďũ 7ĖũĉĉđĒĈđ ĉĉĉČćďũ 7ĖũĉĉđĒĈđ
ũ
#(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ %#-!( ĈĖũ 4(2ũ ;104#9ũ8ũ , 9.- 2Ĕũ
04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ #-31.ũ .,#1!( +ũ #(- "#+ũ (2-#Ĕũ ũŒĈĒũ ĉĉĉČćďũ 7ĖũĉĉđĒĈđ #+ĖũũĐũĉũďćďũĐĎćē
04#" -.ũ #+ĖũĎćĊĉďďĔũ Č ũ#ũ (%4#1 2ũıũ 1"#2 ũ #-31 +ē #+ĖũČũĉĊđĎĒđĈĔũČũĉĊđĎĒĐĊē
%#-!( ĈĖũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ 04#" -.ũ #+ĖũĎćĊĉďďĔũ %#-!( ĈĖũ .+~5 1ũ2ĵ-ũ8ũ .! $4#13#ũ ĸ 20ēĹũ "(ă %#-!( ĈĖũũ!(.ũ (+#-(4,ēũ #+$Ėũďũĉũ #(- ũ (!3.1( ũđĉĊũ8ũ 1 +ēũ ĐĉđďćĉĔũďũĉũĐĉđďććĔũďũĉũĐĉĉĉĒČē 04#" -.ũ #+ĖũĎćĊĉďďĔũĉĉĉČćĎĔũ ĉĉĉČćďũ 7ĖũĉĉđĒĈđ 04#" -.ũ #+Ėũ ĎćĊĉďďē
ĒđČĎĎĈũıũĉďĈĉďďĈũıũĉĒĉĎĒĐĊ ĉĉĎĎĈıĎĎĉ ĉĒđČĎĎĈũıũĉďĈĉďďĈũıũ ĉĒĉĎČĐĐ 1($ 2
(1 721683$ -XQWR D SOD\D $OPHQGUR 9HQGR +RVWHUtD D P GH OD SOD\D GHSDUWDPHQWRV 86' SLVFLQD GH DGXOWRV \ QLxRV $FHSWR D FDPELR HGLÀ FLR HQ %HOODYLV WD R *RQ]iOH] 6XiUH] HQ 4XLWR $5 FF
9(1'2 &$6$ &RQ WHUUHQR D OD FDOOH SDUD FRQVWUXLU ERQLWD \ WRGRV ORV VHUYLFLRV (Q ,EDUUD 0HMtD \ =DOGXPELGH 7HOpIRQR DG DL
9(1'2 &$6$ 3RU HVWUHQDU HQ &D UDQTXL GRUPLWRULRV EDxRV SDWLR WHUUD]D SDUTXHDGH UR iUHDV YHUGHV ,QIRUPHV DG DL
6(&725 /$ 48,17$ 9HQGR KHUPRVD FDVD SODQWDV FRQ WRGDV ODV FRPRGLGDGHV ,Q IRUPHV DG DL
9(1'2 &$6$ (Q /D 9LFWRULD GRUPLWR ULRV EDxRV FRFLQD FR PHGRU ELHQ XELFDGD 3UHFLR ,QIRUPHV WHOpIRQR DG DL
(1 27$9$/2 9HQGR FDVD JUDQGH GH SODQWDV PiV GHSDUWDPHQWR LQGHSHQGLHQWH PiV ORFDO SDUD WLHQGD (Q WHUUHQR P XUEDQL]DFLyQ 5XPLxDKXL 7HOpIRQR DG DL
(1 ,%$55$
6( 9(1'(
VENDO /(*0,5+(: -05*(: 70:6: *(:(:
OLJ[mYLHZ KL WV[YLYVZ JHILaHZ KL NHUHKV JHZHZ JHIH|HZ TLQVYHZ HW[V WHYH WYV`LJ[VZ [\YPZTV » " OLJ[mYLHZ [YHJ[VYHISLZ WSHUVZ HW[V WHYH ZPLTIYH KL HN\HJH[L » " OLJ[mYLHZ [VKV WV[YLYVZ JHWHJPKHK JHILaHZ KL NHUHKV " OLJ[mYLHZ KL WV[YLYVZ JVU NHUHKV " OLJ[mYLHZ KL WV[YLYVZ JVU TLQVYHZ " OLJ[mYLHZ KL WV[YLYVZ JVU HN\H KL YxV HW[V WHYH WYV`LJ[VZ " OLJ[mYLHZ KL WV[YLYVZ " OLJ[mYLHZ L_JLSLU[L [LYYLUV HNYxJVSH " OLJ[mYLHZ HNYxJVSHZ ZLJ[VY *OHS[\YH " OLJ[mYLHZ [LYYLUV KL WYPTLYH JVU JHZH ZLY]PJPVZ ImZPJVZ JHYYL[LYH HZMHS[HKH :HU 9VX\L 6[YHZ MPUJHZ JHZHZ WPZVZ LU 0IHYYH 6[H]HSV ` 8\P[V
;LStMVUVZ! HK
HP
DL
(Q 7XOFiQ WHUUHQR GH P HQ OD $Y %UDVLO \ /XLV 7DPD\R &HUFD DO 1XHYR 5HJLVWUR &LYLO 7HOpIRQRV PU DW
9(1'2 $Y 0DULDQR $FRVWD 7H UUHQR &RPHUFLDO ,QIRUPHV
9(1'2 %86 0HUFHGHV %HQ] RUL JLQDO UHFRUULGR ,QIRUPHV
DG DL
(1 78/&É1 9HQGR 5HWURH[FDYDGRUD -RKQ 'HHU DxR ,QIRUPHV DO WHOpIRQR PU DW
DG DL
9(1'2 7(55(12 +L TL[YVZ LU 5H[HI\LSH H J\HKYHZ KL SH 7HUHTLYPJHUH ULNVJPHISLZ 0UMVYTLZ! HK HP
),1&$ (/ É1*(/
75223(5 :$*21 38(57$6 ; )/$ 0$17( )8// (48,32 1(*2&,$%/(6 ,1)250(6 7(/()6 &/$52 029, DL
9(1'2 &$0,Ð1 +,12 *+ $f2 7( /() DL
9(1'2 &$0,Ð1
)LQFD GH KDV VHFWRU (O ÉQJHO &DUFKL FDVD HVWDEOR DJXD ULHJR DJXD SRWDEOH $SWD SDUD DJULFXOWXUD \ JDQDGHUtD \ WXULVPR 6ROR LQWHUHVDGRV
VENDO TERRENO
HK HP
T[Z JVU JLYYHTPLU[V KL SHKYPSSVZ ` JVUZ[Y\JJP}U KL T[Z WVY LZ[YLUHY [VKVZ SVZ ZLY]PJPVZ ImZPJVZ ZVSV PU[LYLZHKVZ 0UMVYTLZ! :LJ[VY *VSLNPV :HU +PLNV
7(/() DL
9(1'2 $872 +RQGD DxR PRWRU UHSDUDGR HQ 86' ,QIRUPHV
;\j\f ZfefZ\i
0,(/ '( $%(-$ 3$1$'(5,$ 5LJLZP[H \UH WLYZVUH JVU JVUVJPTPLU[VZ ImZPJVZ LU WHUHKLYxH ` WHZ[LSLYxH WHYH H`\KHU[L 7YLZLU[HYZL LU SH JHSSL ([HO\HSWH ` 8\P[V ZLJ[VY 3H ;LYTPUHS 6;(=(36 HK HV
1(&(6,72 (PSOHDGR SDUD WUDEDMDU HQ JDQDGHUtD HQ &D\DP EH ,QIRUPHV DG DL
1(&(6,72 (03/($'2 3DUD WUDEDMDU HQ JDQDGH UtD ,QIRUPHV DG DL
=F IMALG <GQ =F 9FLA;J=KAK
'HSDUWDPHQWR GH GRUPLWRULRV LQGHSHQGLHQWH FRQ OtQHD WHOHIyQLFD 8ELFDGR HQWUH OD 8 &HQWUDO \ OD 87( ,QIRUPHV PU DW
$55,(1'2 (1 ,%$55$ /RFDO QXHYR SDUD RÀ FLQD QH JRFLR HWF FRQ JDUDMH \ OtQHD WHOHIyQLFD %ROtYDU \ *ULMDOYD ,QIRUPHV DG DL
1(&(6,72
&DMHURV \ YHQGHGRUHV SDUD WUDEDMDU HQ ,QWHU 'XW\ )UHH 3RU IDYRU SUHVHQWDU FDUSH WDV HQ HO 6HFWRU 5XPLFKDFD 7HOpIRQRV PU DW
6( %86&$ $VDGRU GH SROORV SDUD WUD EDMDU HQ ,EDUUD ,QIRUPHV DG DL
%ULQGDPRV VHUYLFLRV SURIHVLRQDOHV
3RU HVWUHQDU 3+ P ERGHJD SDUTXHRV $YGD $PpULFD XQD FXDGUD 11 88 ,QI
&ODUR
;Xd`kX [\ Yl\efj j\ek`d`\ekfj# XkiXZk`mX# [\ )) X +) X fj% =@E<J J<I@FJ% =89@ÝE $ K<C=%1 '-0,-/(.'
DG DL
(1 48,72 2325781,'$'
1R WH SUHRFXSHV OOiPDQRV DEVROXWD GLVFUHVLyQ
0RYL
<a\Zlk`mf d\[`XeX \[X[# j`eZ\if# Zfdgi\ej`mf# j`e `dg\[`d\ekfj ] j`Zfj%
#+ĖũĉĎĎĈıĎĎĉũ 7ĖũĉĎĎĉıĈĊĎĔũ.ũ, 1! ũ ũ!4 +04(#1
$7(1&,Ð1
,68=8 )65 $f2
.-3 !3.
¢(67É6 (0%$5$=$'$"
%DFKLOOHU 7pFQLFR HQ 0HFiQLFD $XWRPRWUL] R 0HFiQLFD ,QGXVWULDO R (OHFWULFLGDG FRQ GLVSRQLELOLGDG SDUD YLDMDU SDUD PDQWHQLPLHQWR LQGXVWULDO ,QIRUPHV DG DL
DG DL
9(1'2 7(55(12 $55,(1'2 (1 ,%$55$ /RFDO QXHYR SDUD RÀ FLQD QH $Y 0DULDQR $FRV JRFLR HWF FRQ JDUDMH \ OtQHD WD P ,QIRUPHV WHOHIyQLFD %ROtYDU \ *ULMDOYD ,QIRUPHV DG DL
PU DW
9HQGR FDVD SLVRV P SDUTXHDGHURV VDOD FRPHGRU FRFLQD HVWXGLR KDELWDFLRQHV EDxRV XELFDGD HQ HO 6HFWRU (O 5HWRUQR DFDEDGRV GH SULPHUD *\SVXP 3RUFHODQDWR HQ ORV WUHV SLVRV SLHGUD GH PiUPRO QHJRFLR FRQ HO 3URSLHWDULR 1R LQWHUPHGLDULRV 7HOHIV
KHFWiUHDV SOHQR SXH EOR WRGRV ORV VHUYLFLRV 7HOpIRQRV DG DL
1(&(6,72
#ũ+4-#2ũ ũ5(#1-#2ũ"#ũđĖććũ ũ ũĊĖććũ
& $ 0
$5 FF
6( &2081,&$
(/ 32'(5 '( /$ 0(17(
=$0,5 (;3(572 ,17(51$&,21$/ (1 $0$55(6 '( $025
$WUDH HO DPRU GH WX YLGD SRU LPSRVLEOH TXH VHD QR LPSRUWD HO WLHPSR QL OD GLVWDQFLD UHJUHVR DO VHU DPDGR HQ KRUDV 7RWDOPHQWH KXPLOODGR D WXV SLHV $PDUUHV HWHUQRV FXUR PLJ KHFKL]RV \ VDODPLHQWRV +DJR OLPSLDV IORUHFLPLHQWRV OHYDQWR QHJRFLRV HPSUHVDV \ GR\ VXHUWH HQ HO DPRU
4XH VH KD H[WUDYLDGR HO FHUWLÀ FDGR GH $SUREDFLyQ GHO &XUVR GH &RQGXFFLyQ QR 3URIHVLRQDO RWRUJDGR SRU HO &$7, \ GHPiV GRFXPHQWRV SHUWHQHFLHQWHV D 7DQLD $OHMDQGUD 5HYHOR +HUUHUD FRQ & , SDUWLFX ODU TXH VH FRPXQLFD SDUWLFXODU TXH VH FRPXQLFD SDUD ORV À QHV OHJDOHV SHUWLQHQWHV DG DL
//$0( $+25$
(1 $7817$48,
&5,6723+(5 52< (;3(572 (1 $0$55(6 '( $025 +DJR UHJUHVDU DO VHU DPDGR HQ KRUDV DPRURVR FDULxRVR \ WLHUQR D \ SDUD WRGD OD YLGD &852 ,0327(1&,$ < 5(7,52 $0$17(6
PLJ
9HQGR R FDPELR FRQ SURSLHGDG HQ 4XLWR SUHFLRVD TXLQWD FDSDFLGDG SHUVRQDV FRPR SDUD KRVWHUtD X KRWHO FRQ EHO ORV MDUGtQHV ERVTXH PWV GH WHUUHQR DFDEDGRV GH OXMR KLGURPDVDMH $5 FF
85&848Ì
P U
(1 %$f26 '( $*8$ 6$17$
8QD SODQWD GRUPLWRULRV VDOD FR PHGRU FRFLQD SDUTXHDGHUR SURSLR iUHD GH ODYDGR \ UHFUHDFLyQ &RQ MXQWR 5HVLGHQFLDO 3DFDUL ,, FDVD ,QIRUPHV WHOpIRQRV DG DL
.*'(,
9(1'2 &$6$
.1 1(.
+ 2($(! ".2ũ,(-Ì2!4+ 2ũĸĈĎũ/ + 1 2ĹũũũũŌĊēćć + 2($(! ".2ũ, 8Ì2!4+ 2ũĸĈĎũ/ + 1 2ĹũũũŌĊēĎć ( /.ũ.ũ!+ 2($.3.ũĸ, 8Ì2!4+ ĹũũũŌČēĎć + 1 ũ "(!(.- +ũũũŌĉēćć % ũ".2ũ"~ 2ũ8ũ/4 +~! 3#ũ%1 3(2ũ#-ũ666ē+ '.1 ē!.,
9HQGR 3DQDGHUtD SRU FDOD PLGDG GRPpVWLFD WRGR R SRU SDUWHV ,QIRUPHV D ORV WHOpIR QRV DG DL
/(&785$ '( &$57$6 2 7$527+
9LVtWDPH R OOiPDPH HQ HVWH PRPHQWR TXH UHDOL]R WX DPDUUH
(1 48,72 /2&$/(6 &20(5&,$/(6 3RU HVWUHQDU P FRQ ERGHJD GH P \ SDU TXHR 0DxRVFD \ $PpULFD XQD FXDGUD 1 1 8 8 $5 FF
2UDFLyQ 0LODJURVD &RQ ItR HQ 7t PL 'LRV 3D GUH +L MR \ (V St UL WX 6DQ WR 0L ~QL FR 6DO YD GRU FRQ WR GDV PLV IXHU ]DV OHV SL GR TXH PH FRQ FH GDQ OD JUD FLD TXH WDQ WR GH VHR 3L GD WUHV GH VHRV XQR GH QH JR FLRV \ GRV LP SR VL EOHV 5H FH QXH YH YH FHV DO $YH PD UtD GX UDQ WH GtDV DO QR YH QR GtD SX EOL TXH HV WH DQXQ FLR \ VH FXP SOL Ui DXQ TXH QR OR FUHD RE VHU YH OR TXH RFX UUL Ui DO FXDU WR GtD GH VX SX EOL FD FLyQ 'R\ JUD FLDV SRU HO ID YRU UH FL EL GR 78 '( 92 72 / + DL $7
9(1'2 02'(512 (48,32 ,1'8675,$/ &RFLQD FRQ SR]RV FDQDVWLOODV \ SODQFKD GH [ FDPSDQD FRQ H[WUDFWRU HyOLFR GH PHWURV YLWUL QD WpUPLFD \ EDQGHMDV 7HOpIRQR DG DL
,035(17$ (1 48,72 9HQGH +HLGHOEHUJ WLSRJUiÀ FDV \ JXLOORWLQD \ HQFROD GRUD 4XLWR 2I $ 5
6( 9(1'( +HUUDPLHQWDV GH &DUQLFHUtD D PLWDG GH SUHFLR HQ SHU IHFWR IXQFLRQDPLHQWR ,QIRU PHV DG DL
9(1'2 &20('(526 < %(%('(526 6H YHQGH GH RSRUWXQLGDG &RPH GHURV \ %HEHGHURV SDUD JDOOLQDV GH PHGLR XVR HQ PX\ EXHQ HVWD GR D F X ,QIRUPHV DG DL
ũũũũũũũũũ
Ô1(7( $ 81 *5$1 (48,32
6L QR D\XGDV D OLPSLDU QR D\XGHV D HQVXFLDU
%!
9,1&Ô/$7( <$ < &5($ 78 3523,2 1(*2&,2 &21 (;&(/(17(6 ,1*5(626 < 0Ì1,0$ ,19(56,Ð1 &2081Ì&$7( $ ,EDUUD &HQWUR 2ELVSR 0RVTXHUD \ %ROtYDU 7HOI -XDQD $WDEDOLSD HQWUH 5LFDUGR 6iQFKH] \ 7REtDV 0HQD <DFXFDOOH
7HOI 2WDYDOR $Y &ULVWyEDO &ROyQ HQWUH %ROtYDU \ 6XFUH 7HOI H PDLO QHOO\YHUD #KRWPDLO FRP
% !
$ ! # $ "
"), "#& '( (%%, ( #
- #%$ ! #! * ! #! #"'+ ' "#&
&DPSDxD GH OLPSLH]D SRU OD &LXGDG GH 7XOFiQ
9B7I?<?97:EI B7 >EH7 ?87HH70 &, ( /+,+&( 78/&$1 27$9$/2
9HQGR (FyJUDIR *HQHUDO (OHFWULF FRQ WUDQVGXFWRUHV PiV LPSUHVRUD 86' ,QIRUPHV
DG DL
5P DW
=F LMD; F
6H YHQGH 'HSDUWDPHQWR GRUPLWRULRV VDOD FRFLQD FRPHGRU EDxR FRPSOHWR JDUDMH ODYDQGHUtD FXELHUWD H LQGHSHQGLHQWH ,QI 6HFWRU /D 5XPLxDKXL 1RUWH GH 4XLWR
L[dZe e 7bgk_be Z[ efehjkd_ZWZ :_iYej[YW Yed AWhWea[ Æ IxFJ?CE 9?;BEÇ" [d \kdY_edWc_[dje$ KX_YWZW [d bei Wbjei Z[ J[hc_dWb J[hh[ijh[$ CWoeh[i _d\ehc[i Wb &/* ,.' ,.($
$6(625$0,(172 '( 7(6,6 7(5&(52 < &8$572 1,9(/ ,1)250(6
Rm/11947/at
7$F$%+''/&%a$c$
&23,$'25$6 6(59,&,2 '( 0$17(1,0,(172 (63(&,$/,=$'2 ,10(',$72
" !
<hg _²h ^g M²% fb =bhl% IZ ]k^% Ab ch r >l i² kb mn LZg mh' Fb ¼gb \h LZe oZ ]hk% \hg mh ]Zl fbl _n^k sZl e^l ib ]h jn^ f^ \hg \^ ]Zg eZ `kZ \bZ jn^ mZg mh ]^ l^h !Ib ]Z mk^l ]^ l^hl ngh ]^ g^ `h \bhl r ]hl bf ih lb [e^l"' K^ \^ gn^ o^ o^ \^l Ze :o^ fZ k²Z ]n kZg m^ 2 ]²Zl% Ze gh o^ gh ]²Z in [eb jn^ ^l m^ Zgng \bh r l^ \nf ieb k§ Zng jn^ gh eh \k^Z% h[ l^k o^ eh jn^ h\n kkb k§ Ze \nZk mh ]²Z ]^ ln in [eb \Z \b·g' =hr `kZ \bZl ihk ^e _Z ohk k^ \b [b ]h' MN => OH MH O':'E'> M'D'F ZM(*22-
(/ ,1',2 48( 6$1$
7HOHPDUNHWLQJ
0IERDE EN LOS NEGOCIOS FRACASA EN LOS TRABAJOS NO ES FELIZ EN EL HOGAR SE SIENTE SOLO ENFERMO SUFRE POR QUE SU PAREJA LO DEJØ ./ 35&2! -£3 TODOS SUS PROBLEMAS TIENEN SOLUCIØN 'ASPAR CURA LAS ENFERMEDADES MALIGNAS QUE ESTÉN ACABANDO CON SU VIDA %L ÞNICO )NDIO MÉS EFICAZ EN LIGAMIENTOS Y AMARRES !TRAE AL SER QUERIDO MÉS CARI×OSO A QUE ANTES Y PARA SIEMPRE
0HUFDGR $PHULFDQR 9LX\PLYL°WLYZVUHS°WHYH°]LU[HZ°WVY° [LStMVUV°KL°W\ISPJPKHK°LU°9HKPV°`° ;LSL]PZP}U 0UNYLZV°PUTLKPH[V °I\LUH° YLT\ULYHJP}U°,Z[HIPSPKHK°,JVU}TPJH )mZPJV°TmZ°0UJLU[P]VZ
!3%'52% 35 &%,)#)$!$ 6)3°4%,/ (/9 -)3-/
%N )BARRA !V 6ÓCTOR -ANUEL 'UZMÉN Y CALLE DE !BRIL
DEL 2EDONDEL DE !JAVÓ A CUADRAS VÓA (OSPITAL DEL 3EGURO #ELULAR AD AI
´'( 2325781,'$' 6( 9(1'( +27(/ (1 $7$&$0(6µ
% ! $ ! # "
HK HP
2UDFLyQ 0LODJURVD
&$// &(17(5
,1',2 *$63$5
' ' & % # " $ " ! ! ! !
< (/ 35,1&,3( (;3(5726 (1 $0$55(6 7( (19,$026 (/ 0$5$9,//262 3(5)80( &RQ VROR IURWDUWH WX FXHUSR \ SURQXQFLDQGR HO QRPEUH GH (/ R (//$ (VWDUi FRQWLJR $PRURVR D FDULxRVR D VHUi ILHO \ DWUDH HQDPRUD \ $0$55$ D (O R D (//$
$2
GQ "*
3FRVFSJNJFOUPT *OHMÏT 3FTQPOTBCMF QSPBDUJWP Z TPDJBCMF #FOFmDJPT -PT FTUBCMFDJEPT QPS MB MFZ 4VFMEP EF BDVFSEP BM QFSmM #FDBT EF DBQBDJUBDJØO CVFO BNCJFOUF EF USBCBKP Z DSFDJNJFOUP QSPGFTJPOBM *OUFSFTBEPT FOWJBS TV IPKB EF WJEB B SSII JCB!HNBJM DPN Ø EFKBS TV DBSQFUB FO &EJG #BODP MB 1SFWJTPSB FS QJTP PmD
#$ #%
'SBORVJDJB *OUFSOBDJPOBM SFRVJFSF 5VUPSFT Z 3FDFQDJPOJTUBT QBSB TVT DFOUSPT FO *CBSSB Z 0UBWBMP
Ăā Ăā
E <A;GK
9(17$6 '( &$/=$'2 325 &$7É/2*2
g ŏ āąŏ ŏ ŏĂĀāā
ŏ +. ŏ ġ āąŏ ŏ ŏĂĀāā
ŏ +. ŏ ġ
2%6(48,$026 (O DQLOOR FRQ HO ´',$0$17( '(/ $025µ FRPSURPLVR \ PDWULPRQLR
//$0(
9B7I?<?97:EI Z[ :?7H?E B7 >EH7
ln f^chk Zem^kgZmboZ iZkZ \hfikZk r o^g]^k
ŏ ŏ
ŏ
ĂĂ
g ŏŏ 7 ŏŏ āąŏ ŏ ŏĂĀāā ĀĂŏ ŏ ŏĂĀāĀ
ŏ +. ŏ ġ
5 '(/ ( -8=*$'2 6e37,02 '( /2 &,9,/ < 0(5&$17,/ '( 0$1$%Ì %$+Ì$ '( &$5É48(= / 3
&,7$&,Ð1 -8',&,$/ (;75$&72 6H KDFH VDEHU DO 3~EOLFR \ D ORV VHxRUHV 3('52 +(51É1'(= 0(1'2=$ < 0(5&('(6 0(5$ '( +(51É1'(= < 2 686 +(5('(526 35(681 726 2 '(6&212&,'26 4XH HQ HO -X]JDGR 6pSWL PR GH OR &LYLO \ 0HUFDQWLO GH 0DQDEt DQWH OD VHxRUD -XH]D $ERJDGD 5RVD %H QLJQD $YHLJD /XTXH VH KD SUHVHQWDGR 'HPDQGD GH 3UHVFULSFLyQ ([WUDRUGLQDULD $GTXLVLWLYD GH 'RPLQLR SRU SDUWH GH OD VHxRUD 0$5Ì$ '(/ &$50(1 &+,&$ %(/ 75É1 VREUH XQ FXHUSR GH WHUUHQR XELFDGR HQ OD &DOOH 5RFDIXHUWH GHO EDUULR GH 6HSWLHPEUH GH OD 3DUURTXLD GH /HyQLGDV 3OD]D &DQWyQ 6XFUH 3URYLQFLD GH 0DQDEt \ WLHQH ORV VLJXLHQWHV OLQGH URV \ PHGLRV 3RU HO 1RUWH &RQ *LOEHUWR 9LFHQWH 2UR] FR 6DQWRV -XDQ $QGUpV 0ROLQD 2UR]FR \ 0LUWKD 0DUtD 2UR]FR 6DQWRV FRQ PHWURV 3RU HO 6XU &RQ +XPEHUWR 6DQWRV (VSLQR]D \ -XOLR 6DQWRV (VSLQR]D FRQ PHWURV 3RU HO (VWH &RQ WHUUHQRV SDUWLFXODUHV FX\DV LQGLYLGXDOLGDGHV QR ODV KD SRGLGR SUHFLVDU HQ PHWURV 3RU HO 2HVWH &RQ FDOOH 5RFDIXHUWH FRQ PHWURV FX\R H[WUDFWR HV HO VLJXLHQWH $&725 0DUtD GHO &DUPHQ &KLFD %HOWUiQ -8,&,2 3UHVFULSFLyQ ([ WUDRUGLQDULD $GTXLVLWLYD GH 'RPLQLR '(0$1'$'2 3HGUR +HU QiQGH] 0HQGR]D \ 0HUFH GHV 0HUD GH +HUQiQGH] \ R VXV KHUHGHURV SUHVXQWRV R GHVFRQRFLGRV '()(1625 $E -DFLQWR 6DQWDQD 0RVTXHUD &8$17,$ ,QGHWHUPLQDGD 3529,'(1&,$ -X]JDGR 6pSWLPR GH OR &LYLO 0HU FDQWLO \ GH ,QTXLOLQDWR GH 0DQDEt %DKtD GH &DUi TXH] / 3 OXQHV GH 6HSWLHPEUH GHO /DV K ҋ 9,6726 /D GH PDQGD SUHVHQWDGD SRU OD VHxRUD 0DUtD GHO &DUPHQ &KLFD %HOWUiQ VH OD FDOLILFD FRPR FODUD \ FRPSOHWD \ VH OD DFHSWD SDUD VX WUiPLWH HQ OD YtD RUGLQDULD ,QVFUtEDVH HVWD GHPDQGD HQ OD 5HJLV WUDGXUtD GH OD 3URSLHGDG GHO &DQWyQ 6XFUH &tWHVH FRQ OD GHPDQGD DXWR HQ HOOD UHFDtGR D ORV GHPDQGDGRV VHxRUHV 3HGUR +HUQiQ GH] 0HQGR]D \ 0HUFHGHV 0HUD GH +HUQiQGH] \ R D VXV KHUHGHURV SUHVXQWRV R GHVFRQRFLGRV \ WRGDV ODV SHUVRQDV QDWXUDOHV R MXUtGL FDV FRQ GHUHFKR R LQWHUpV VREUH HO SUHGLR REMHWR GH HVWD DFFLyQ VH ORV FLWDUi GH FRQIRUPLGDG FRQ OR TXH HVWDEOHFH HQ HO $UWtFXOR GHO &yGLJR GH 3URFHGLPLHQ WR &LYLO WRGD YH] TXH OD VH xRUD FRPSDUHFLHQWH KD GH FODUDGR EDMR MXUDPHQWR TXH GHVFRQRFH VXV GRPLFLOLRV $ ORV GHPDQGDGRV \ D WRGRV ORV VHxRUHV LQWHUHVDGRV TXH VH FUHDQ FRQ LQWHUpV R GHUHFKR VREUH HO SUHGLR REMHWR GH HVWD DFFLyQ VH OHV FRQFHGH HO WpUPLQR GH TXLQFH GtDV SDUD TXH GHQ WUR GHO PLVPR SUHVHQWHQ ODV H[FHSFLRQHV GLODWRULDV R SHUHQWRULDV D ODV TXH FUH\H UHQ DVLVWLGRV 7pQJDVH HQ FXHQWD OD FXDQWtD ILMDGD OD FDVLOOD -XGLFLDO 1R SDUD QRWLILFDFLRQHV \ OD DXWRUL ]DFLyQ FRQFHGLGD DO VHxRU $ERJDGR -DFLQWR 6DQWDQD 0RVTXHUD /R TXH KDJR VDEHU D ORV LQWHUHVDGRV SDUD ORV ILQHV OHJDOHV FRUUHVSRQGLHQWH SUHYLQLpQGROHV GH OD REOLJD FLyQ TXH WLHQHQ GH VHxDODU GRPLFLOLR HQ HO FDVLOOHUR -XGLFLDO GH XQ $ERJDGR HQ HVWD FLXGDG GHQWUR GHO WpU PLQR OHJDO FDVR FRQWUDULR VH SURFHGHUi HQ UHEHOGtD %DKtD GH &DUiTXH] / 3 2FWXEUH GHO 5(1$72 &+21/21* =$0%5$12 6(&5(7$5,2 -8=*$'2 02 &,9,/ '( 0$1$%Ì ) PEL
5(3Ô%/,&$ '(/ (&8$ '25 (;75$&72 '( &,7$&,Ð1 -8',&,$/ 1R -8=*$'2 '( /$ 1,f(= < $'2/(6&(1&,$ $&725 $85$ /,/,$1$ 0$/48,1 78/&É1 '(0$1'$'2 0$5,2 %2 /,9$5 &,61(526 08f2= &$86$ $/,0(1726 $/ '(0$1'$'2 6(f25 0$5,2 %2/,9$5 &,61( 526 08f2= 6( /( +$&( 6$%(5 48( (1 (67( -8=*$'2 6( (67$ 75$ 0,7$1'2 /$ '(0$1'$ '( $/,0(1726 1R 48( 6,*8( (/ 65$ $85$ /,/,$1$ 0$/48,1 78/&É1 < &8<$ 3529, '(1&,$ 6( 75$16&5, %( -8=*$'2 '( /$ 1,f(= < $'2/(6&(1&,$ '(/ &$5&+, 7XOFiQ YLHUQHV GH GLFLHPEUH GHO ODV K 9,6726 $JUpJXHVH DO SURFHVR HO HVFULWR \ GRFX PHQWRV TXH DQWHFHGHQ (O IRUPXODULR ~QLFR GH GHPDQ GD GH SHQVLyQ DOLPHQWLFLD SUHVHQWDGR SRU OD VHxRULWD $85$ /,/,$1$ 0$/48,1 78/&É1 HV FODUD SUHFL VD FRPSOHWD \ UH~QH ORV GHPiV UHTXLVLWRV GH OH\ DFHSWiQGROD DO WUiPLWH HV WDEOHFLGR HQ HO &yGLJR GH OD 1LxH] \ $GROHVFHQFLD 3RU DILUPDU EDMR MXUDPHQWR OD DFWRUD HQ VX GHPDQGD TXH OH KD VLGR LPSRVLEOH GHWHUPLQDU OD LQGLYLGXDOLGDG R UHVLGHQFLD GHO VHxRU 0$ 5,2 %2/,9$5 &,61(526 08f2= GH OR FXDO VH OH YDQWy HO DFWD UHVSHFWLYD \ TXH FRQVWD GH DXWRV DVt FRPR VH KD GHPRVWUDGR KDEHU DJRWDGR ORV PHGLRV OHJDOHV FRQGXFHQWHV D GH WHUPLQDU OD LQGLYLGXDOLGDG R UHVLGHQFLD GHO GHPDQGDGR &tWHVH DO VHxRU 0$5,2 %2/,9$5 &,61(526 08 f2= PHGLDQWH WUHV SXEOL FDFLRQHV TXH VH UHDOL]DUiQ FDGD XQD GH HOODV HQ IHFKDV GLVWLQWDV HQ XQ SHULyGLFR GH DPSOLD FLUFXODFLyQ GHO OXJDU \ FRPR DVt OR GHWHUPLQD HQ HO $UWV GHO &yGLJR GH 3URFHGLPLHQWR &LYLO SDUD OR FXDO VH FRQIHULUi HO H[WUDFWR QHFHVDULR EDMR SUHYHQFLR QHV DO GHPDQGDGR TXH GH QR FRPSDUHFHU VH SURFHGH Ui HQ UHEHOGtD DGYLUWLpQGROH GH OD REOLJDFLyQ TXH WLHQH GH VHxDODU GRPLFLOLR MXGLFLDO HQ HVWD FLXGDG \ HOHFWUyQLFR SDUD UHFLELU VXV SRVWHULRUHV QRWLILFDFLRQHV DGHPiV HO GHPDQGDGR WLHQH OD REOLJD FLyQ GH DQXQFLDU ORV PHGLRV SUREDWRULRV GH FRQIRUPLGDG FRQ HO $UW ,QQXPHUDGRV GH OD /H\ 5HIRUPDWRULD DO 7tWXOR 9 OLEUR ,, GHO &yGL JR 2UJiQLFR GH OD 1LxH] \ $GROHVFHQFLD 6H ILMD FRPR SHQVLyQ PHQVXDO SURYL VLRQDO DOLPHQWLFLD D IDYRU GH OD DOLPHQWDULD $5(/,6 9$/(17,1$ &,61(526 0$/48,1 QDFLGD HO GH PD\R GHO OD FDQWLGDG GH VHWHQWD \ GRV GyODUHV GH ORV (VWDGRV 8QLGRV GH 1RU WHDPpULFD SRU QR KDEHUVH MXVWLILFDGR OD FRQGLFLyQ HFR QyPLFD GHO DOLPHQWDQWH HQ IRUPD SOHQD HQ EDVH D OD WDEOD GH SHQVLRQHV DOLPHQ WLFLDV PtQLPDV HQ YLJHQFLD TXH OR SDJDUi HO GHPDQ GDGR VHxRU 0DULR %ROtYDU &LVQHURV 0XxR] GHVGH OD SUHVHQWDFLyQ FRQ OD GHPDQ GDGD GH FRQIRUPLGDG FRQ OR HVWDEOHFLGR HQ ORV $UWV \ ,ELGHP GXUDQWH ORV FLQ FR SULPHURV GtDV GH FDGD PHV GH FRQIRUPLGDG DO $UWV ,QQXPHUDGR GH OD /H\ 5HIRUPDWRULD VH FRQYRFDUi D OD DXGLHQFLD ~QLFD OXHJR GH TXH HO GHPDQGDGR VHD OHJDOPHQWH FLWDGR $JUp JXHVH OD SDUWLGD GH QDFL PLHQWR \ PiV SUXHEDV TXH DGMXQWD OD DFWRUD WpQJDVH HQ FXHQWD HO DQXQFLR GH OD SUXHED FRQVWDQWH HQ ORV QXPHUDOHV \ GHO IRU PXODULR OD FXDQWtD VX DER JDGR GHIHQVRU \ FDVLOOHUR MXGLFLDO VHxDODGR &,7(6( < 127,)Ì48(6( ) '5 )(51$1'2 32/2 /81$ -8(= 'U /XLV $OIRQVR 0RUHWD 6(&5(7$5,2 '(/ -8= *$'2 '( /$ 1,f(= < $'2/(6&(1&,$ '(/ &$17Ð1 78/&É1 +D\ )LUPD \ 6HOOR $5 DW -8=*$'2 &8$572 '( /$ 1,f(= < /$ $'2/(6&(1
&,$ '( ,0%$%85$ &,7$&,21 -8,&,2 (63(&,$/ 1R 35238(672 325 1RUD )ORUHQFLD 0pQGH] &KDOD (1 &2175$ -RVp 7RPiV &KLFD &KLFD 0$7(5,$ $OLPHQWRV ,1,&,$'2 GH -XQLR GHO &8$17,$ RR (;75$&72 $GROHVFHQFLD SXEOLFDGR HQ HO 5HJLVWUR 2ILFLDO 1UR 6XSOHPHQWR GHO GH -X OLR GHO &tWHVH FRQ OD GHPDQGD \ DXWR UHFDtGR DO GHPDQGDGR -RVp 7RPiV &KLFD &KLFD FRPR REOLJDGR SULQFLSDO \ &RPR 2EOLJDGD 6XEVLGLDULD &DWDOLQD &KLFD &HYDOORV PHGLDQWH WUHV SX EOLFDFLRQHV SRU OD SUHQVD (Q PpULWR D OD SDUWLGD GH QDFLPLHQWR GH IRMDV GHO SURFHVR \ FRQ IXQGDPHQWR HQ OD UHVROXFLyQ 1UR &11$ SXEOLFDGR HQ HO 5HJLVWUR 2ILFLDO 1UR GHO GH -XOLR GHO \ EDMR OD VLJXLHQWH IyUPXOD ILMDVH HQ OD FDQWLGDG GH GyODUHV PHQVXD OHV FRPR SHQVLyQ SURYLVLR QDO GH DOLPHQWRV D IDYRU GHO PHQRU %HWVDEH *HRYDQD \ %HOpQ (VWHIDQtD TXH GHEH Ui SDVDU VX SDGUH HO VHxRU -RVp 7RPiV &KLFD &KLFD GHVGH OD SUHVHQWDFLyQ GH OD GHPDQGD HVWR HV GHVGH HO GH -XQLR GHO 9DOR UHV TXH VHUiQ GHSRVLWDGRV HQ OD &XHQWD GH $KRUURV 1UR GH OD &RRSH UDWLYD GH $KRUUR \ &UpGLWR ´3LODKXLQ 7tRµ FX\D WLWXODU HV OD DFWRUD 6H FRQYRFDUi D ODV SDUWHV D OD $XGLHQFLD ÔQLFD GH FRQIRUPLGDG FRQ OR HVWDEOHFLGR HQ HO DUWtFXOR GH OD SUHFLWDGD QRUPD WLYD XQD YH] TXH FRQVWH GHO SURFHVR OD FLWDFLyQ DO SUHQRPEUDGR GHPDQGDGR 7pQJDVH HQ FXHQWD HO DQXQ FLR GH SUXHED IRUPXODGR 3RU FRQVLGHUDGD OD FXDQWtD \ HO FDVLOOHUR -XGLFLDO 1R VHxDODGR SDUD VXV QRWLILFD FLRQHV 7pQJDVH D OD 'UD /RXUGHV $OWDOLPD FRPR VX GHIHQVRU $JUpJXHVH DO SURFHVR OD GRFXPHQWDFLyQ DGMXQWD 127,),48(6( I $EJ 3DWULFLR 2UEH 0RUH MyQ -XH] /R TXH FRPXQLFR D XVWHG SDUD ORV ILQHV OHJDOHV FRQ VLJXLHQWHV DGYLUWLpQGROH GH OD REOLJDFLyQ TXH WLHQH GH VHxDODU GRPLFLOLR MXGLFLDO SDUD VXV QRWLILFDFLRQHV 2WDYDOR GH 1RYLHPEUH GHO 'UD <RODQGD $ODEXHOD 6HFUHWDULD &RQVWD ILUPD \ VHOOR $G DR
¡
$18/$&,Ð1 6H SRQH HQ FRQRFLPLHQWR GHO S~EOLFR TXH VH KD H[ WUDYLDGR HO GHSRVLWR SOD ]R ILMR 1R SHUWHQHFLHQWH DO VRFLR 9,//$5($/ 0$/7( )5$1./,1 ('8$5'2 GH OD &RRSHUDWLYD ´ GH 2FWXEUHµ SRU OR TXH VH SURFHGH D VX DQXODFLyQ 5P DW
$18/$&,Ð1 6H SRQH HQ FRQRFLPLHQ WR GHO S~EOLFR TXH VH KD H[WUDYLDGR OD &XHQWD GH $KRUURV GHO %DQFR 1DFLRQDO GH )RPHQWR 6XFXUVDO (O ÉQJHO SHUWHQHFLHQWH D OD VHxRU -26( 0,*8(/ &$%$6&$1*2 32=2 SRU OR TXH VH SURFHGH D VX DQXODFLyQ 5P DW
%$1&2 '( *8$<$48,/ 5(92&$725,$ (;75$9Ì2 52%2 1 &+(48( 6,1 02172
%$1&2 '( *8$<$48,/ 6 $ FRPXQLFD DO S~EOLFR TXH HO VHxRU D *DPERD 5HTXHQH $QGKLV $OIUHGR KD GHFODUDGR TXH HO ORV FKHTXH V DO GH VX FXHQWD FRUULHQWH OH IXH URQ VXVWUDtGR V UREDGR V H[WUDYLDGR V HQ EODQFR \ VLQ ILUPD EDMR VX UHVSRQVD ELOLGDG FLYLO \ SHQDO TXH VL VH SUHVHQWDUHQ DO FREUR ORV UHIHULGRV FKHTXHV HVWRV VRQ )$/6,),&$'26 \ HQ FRQVHFXHQFLD HO %DQFR QR GHEHUi SDJDUORV 3RU OR DQRWDGR HO %DQFR D SDUWLU GH OD SUHVHQWH SXEOLFDFLyQ SURFHGHUi D OD DQXODFLyQ GHO GH ORV PHQFLRQDGR V FKHTXH V DG DL
&ŋ &#.)ŋ ŋ )( /-# ( ;d bW WYjkWb_ZWZ" jWdje [d dk[ijhe fW i Yece [d [b h[ije Z[b ckdZe" [b Z[# b_je Z[ YedYki_ d i[ ^W Z_\kdZ_Ze o fheb_\[hWZe [d [cfb[WZei f Xb_Yei Z[ d_l[b[i XW`ei" c[Z_ei o ik# f[h_eh[i" Yece be lWcei W l[h [d [b [ijkZ_e gk[ W Yed# j_dkWY_ d be h[Wb_pWh[cei" fWhW be YkWb" Yedi_Z[he d[# Y[iWh_e gk[ fh[l_e W [bbe" WdWb_Y[cei YedY[fjei gk[ dei f[hc_j_h|d j[d[h kdW l_i_ d c|i YbWhW o fh[Y_iW ieXh[ [ij[ Z[b_je" Wi Wl[h_# ] [cei0 gk [i [b Z[b_je [d ][d[hWb" [b Z[b_je Z[ YedYk# i_ d" Wdj[Y[Z[dj[i" [j_ce# be] W" eh ][d[i" |cX_je o f[dWb_pWY_ d$ :[b_je FWhW [b :_YY_edWh_e ;dY_Ybef Z_Ye IEF;D7" Æ:[b_je$ c$ 9kbfW" Yh_c[d" l_ebWY_ d e gk[XhWdjW# c_[dje Z[ bW b[o$Ç
7 !!(¢Æ7YY_ d Z[ [n_]_h _cfk[i# jei" ckbjWi" [jY$ 9eXhe _d# `kije o l_eb[dje$Ç ;b YedY[fje gk[ [b :_Y# Y_edWh_e ;dY_Ybef Z_Ye IEF;D7 j_[d[ Z[ f[dW" [i0 Æ9Wij_]e _cfk[ije feh Wkjeh_ZWZ b[] j_cW Wb gk[ ^W Yec[j_Ze kd Z[b_je e \WbjW¾Ç o Yedj_d W0 ƾ ;d jeZei bei fk[Xbei Z[ bW Wdj_] [ZWZ " o ^WijW cko [djhWZei bei j_[cfei ce# Z[hdei" bWi b[o[i f[dWb[i WfWh[Y[d Z[djhe Z[ bW c|i jeiYW XWhXWh_[" i[ Wfb_YWXW Yed fheZ_]Wb_ZWZ bW f[dW Z[ ck[hj[ [d Z_\[h[dj[i \ehcWi Z[ [`[YkY_ d" bW ckj_bWY_ d" bW Y|hY[b" bei jhWXW`ei \ehpWZei o ieXh[ jeZe" [b Wpej[ ¾Ç$ ;d bW Wdj_]kW HecW i[ Yec[j Wd Z[b_jei Z[ YWh|Y# j[h f Xb_Ye Yh_c_dWb o Z[ YWh|Yj[h fh_lWZe Z[b_YjW$
Bei fh_c[hei" feh ik fhe# f_W dWjkhWb[pW fed Wd [d f[b_]he W bW Yeckd_ZWZ he# cWdW o [hWd f[hi[]k_Zei Z[ eÒY_e feh bWi Wkjeh_ZW# Z[i e W f[j_Y_ d Z[ YkWb# gk_[h Y_kZWZWde" i_[dZe iWdY_edWZei Yed f[dWi Z[ ck[hj[" W^ehYWc_[dje [d [b Æ|hXeb _d\[b_nÇ" Z[YWf_jW# Y_ d" bWdpWc_[dje Z[iZ[ bW heYW JWhf[oW" Yece Wi YedijW [d [b :_YY_edWh_e ;dY_Ybef Z_Ye IEF;D7 c[dY_edWZe [d b d[Wi Wd# j[h_eh[i$ ;d [b i[]kdZe Z[ bei ikfk[ijei" i[ jhWjWXW Z[ Z[b_jei gk[ b[i_edWXWd bW [i\[hW `kh Z_YW Z[ fWhj_# YkbWh[i X|i_YWc[dj[ o Z[ cWd[hW [nY[fY_edWb" YWk# iWXWd ZW e W bW ieY_[ZWZ$ ;ijei [hWd f[hi[]k_Zei W f[j_Y_ d Z[ bW fWhj[ W\[Y# jWZW o YkoW iWdY_ d" Yed# i_ij_ [d iki _d_Y_ei [d bW _cfei_Y_ d Z[ ckbjWi fh_# lWZWi [d \Wleh Z[b e\[dZ_# Ze" fWiWdZe feh bW l[d]Wd# pW fh_lWZW" [b i_ij[cW Z[ bW B[o Z[b JWb_ d e`e feh e`e o Z_[dj[ feh Z_[dj[ " ^WijW bb[]Wh W bW ÆYecfei_Y_ d le# bkdjWh_WÇ$ Feij[h_ehc[dj[ bW b[o Ò` Yece h[gk_i_je bW _cfei_Y_ d Z[ bWi ÆYecfe# i_Y_ed[i eXb_]Wjeh_WiÇ" Yed [b Òd Z[ h[iWhY_h bei ZW ei YWkiWZei W bW fWhj[ W]hW# l_WZW feh bW Yec_i_ d Z[ Z[b_jei [d ik f[h`k_Y_e$ ;i YbWhe gk[ de i[ Z[i# fh[dZ[ [b[c[dje Wb]kde gk[ f[hc_jW [iYbWh[Y[h [b i_]d_ÒYWZe ieXh[ [b Wdj[Y[# Z[dj[ [j_ceb ]_Ye Z[b Z[b_# je Z[ bW YedYki_ d" c[dei W d" i_ i[ fh[j[dZ_[i[ Yej[# `Wh Z_Y^e YedY[fje" Yed [b j_fe b[]Wb l_][dj[ Z[iYh_je feh [b B[]_ibWZeh [d [b :[# h[Y^e F[dWb [YkWjeh_Wde$ :[ jWb Yh_j[h_e" i[ Z[i# fh[dZ[ gk[ Z[ cWd[hW
c[jW\ h_YW e Ò]khWZW" bW YedceY_ d e iWYkZ_ZW" Z[ YWh|Yj[h ikX`[j_le [hW ik\h_ZW feh [b fWhj_YkbWh gk[ Z[X W Z[ [djh[]Wh Wb]e de Z[X_Ze Wb ik`[je WYj_le Z[b Z[b_je$ ;b YWb_ÒYWj_le Z[ ÆcehZ_ZWÇ gk[ Wfeh# jW [b Wkjeh [d c[dY_ d" Z[X[ Z[ _dj[hfh[jWhi[ [d i[dj_Ze Wcfb_e" [i Z[Y_h" i_d j[Yd_Y_ice `kh Z_Ye Wb# ]kde" Yece kdW cWd[hW Z[ h[\[h_hi[ Wb WYje Z[ ZWh Wb]e de Z[X_Ze Wb ik`[je WYj_le Z[b Z[b_je" jeZW l[p gk[ [b fh[j[dZ[h [\[YjkWh kd Wd|b_i_i [ijh_Yje Z[ jWb Z[Òd_Y_ d" Yed\ehc[ W bei Fh_dY_f_ei Z[ Ædkbbkc Yh_# c[d dkbbW f[dW i_d[ b[][Ç e Z[ Æb[]Wb_ZWZÇ o Z[ Æ[nWY# jW Wfb_YWY_ d Z[ bW b[oÇ gk[ YWhWYj[h_pWd W dk[ijhe WY# jkWb i_ij[cW h[fh[i_le" dei ^Wh W YW[h [d [b ikfk[ije Z[ WÒhcWh gk[ Z_Y^e YWb_Ò# YWj_le" de Ò]khW Yece [b[# c[dje _dj[]hWZeh Z[b j_fe f[dWb Z[ bW YedYki_ d" Yed be gk[ YWh[Y[h W Z[ _cfeh# jWdY_W fWhW [b :[h[Y^e F[# dWb [YkWjeh_Wde$ HecWde i[ Yedj[cfbW# XW jeZe j_fe Z[ \[d c[dei gk[ ][d[hWXWd YehhkfY_ d i_d Z_ij_d]k_h YbWhWc[dj[ bei b c_j[i [djh[ YWZW kde Z[ [bbei" Yece [d bW WYjkW# b_ZWZ i[ fh[l [d [b :[h[# Y^e F[dWb [YkWjeh_Wde$ ;i Z[Y_h" XW`e [b j jkbe Z[ bW YedYki_ d i[ Yed\kdZ Wd WYjei Yece bW [njehi_ d" [b ieXehde o [b Ye^[Y^e$ BW Wki[dY_W Z[ Z_ij_dY_ d [djh[ bei Z[b_jei i[ WbW# Zei Yed Wdj[h_eh_ZWZ" WfWh[dj[c[dj[ i[ [dYed# jhWXW ikXiWdWZW Yed bW [n_ij[dY_W Z[ kd Yec d Z[dec_dWZeh [djh[ jeZei o YWZW kde Z[ Z_Y^Wi Ò]k# hWi" [i Z[Y_h" Wj[djWXWd [d
YedjhW Z[b ehZ[d f Xb_Ye o fed Wd [d f[b_]he W bW Yeckd_ZWZ hecWdW$ 9ed feij[h_eh_ZWZ [b YedY[fje Z[ bW YedYki_ d \k[ [lebk# Y_edWdZe" ^WijW b_c_jWhi[ W bW iWdY_ d Z[ WYjei [\[Y# jkWZei feh \kdY_edWh_ei f Xb_Yei gk[ i[ i[hl Wd Z[b Æc[jki fkXb_YW[ fej[i# jWj_iÇ e c_[Ze ][d[hWZe W fWhj_YkbWh[i feh bW Wkjeh_# ZWZ gk[ _dl[ij Wd" fWhW eXj[d[h bWi [nWYY_ed[i _b[]Wb[i Z[ bWi YkWb[i [hWd l Yj_cWi$ 1(%#-ũ#3(,.+¢%(!. I_d [cXWh]e" Z[X[ i[ WbWh# i[ gk[ i_ X_[d [i Y_[hje [b eh_][d [j_ceb ]_Ye Z[b Z[b_je Z[ bW YedYki_ d [i d_Ye" jWcX_ d be [i gk[ Z_Y^W \_]khW [d bW WY# jkWb_ZWZ de h[l_ij[ [nWY# jWc[dj[ bei c_icei [b[# c[djei o f[h\_b[i [d bWi Z_\[h[dj[i b[]_ibWY_ed[i h[fh[i_lWi W d_l[b _dj[h# dWY_edWb" [ije [i" Z_Y^W \_]khW de i[ [dYk[djhW Z[iYh_jW Z[ bW c_icW cW# d[hW" [d bWi b[o[i f[dWb[i$ BW _cfehjWdY_W Z[ be i[# WbWZe Yed Wdj[h_eh_ZWZ" [ijh_XW [d gk[ bW Wdj_`kh_# Y_ZWZ Yedj[cfbWZW [d [b j_fe f[dWb gk[ Z[iYh_X[ W bW Ò]khW Z[ bW YedYki_ d [d [b :[h[Y^e F[dWb ;YkW# jeh_Wde" de [i bW c_icW Z[ Wgk[bbW gk[ Yedj[cfbWd bei i_ij[cWi Wb[c|d" [ifW# eb" _jWb_Wde e Wh][dj_de" [i Z[Y_h$ I[ jhWjW Z[ bW c_icW Ò]k# hW `kh Z_YW" f[he [ijWh| _dj[]hWZW feh [b[c[djei Z_\[h[dj[i [d Wj[dY_ d Wb j_fe b[]Wb Yedj[cfbWZe [d [b i_ij[cW f[dWb Z[ YWZW kde Z[ bei fW i[i$
Ăă
g Ĺ? Ä Ä…Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ? ÄĄ
ēŊ + -3 2Ŋ8Ŋ/ +.2Ŋ04#, ".2Ŋ. 23 !4+(9 -Ŋ+ Ŋ5~ ē
# ,, (Ĺ‹ ( ' ,# ( Ĺ‹*),ŋŋ , . ( #š(Ĺ‹ Ĺ‹/(Ĺ‹ '#š(Ĺ‹ +ĹŠ 43.,.3.1ĹŠ$4#ĹŠ! /341 ".ĹŠ!.-ĹŠ,#1Äą ! "#1~ ĹŠ04#ĹŠ-.ĹŠ3#-~ ĹŠ+ ĹŠ".!4,#-3 !(¢-ĹŠ +#% +ĹŠ"#ĹŠ(,/.13 !(¢-ēŊŊ ĹŠ ěŊ BW dehcWb Y_hYkbWY_ÂŒd
[d bW FWdWc[h_YWdW Dehj[" i[Y# jeh 9Whfk[bW" i[ l_e Wbj[hWZW bW cW‹WdW Z[ Wo[h ZkhWdj[ lWh_Wi ^ehWi$ ;hWd Wfhen_cWZWc[d# j[ bWi &/0&& YkWdZe lWh_ei Ye# ckd[hei Z[ bW pedW Xbegk[Whed bW l‡W Yed bbWdjWi o fWbei fWhW fhej[ijWh [d ieb_ZWh_ZWZ Yed kd l[Y_de Z[b i[Yjeh$ 7i[]khWd [ij| i_[dZe ]hWl[c[dj[ W\[YjWZe feh kdW h[iebkY_Œd Z[ kd <_iYWb Z[b 9WhY^_$ BW c[Z_ZW gk[ _d_Y_e Yece fh[l[dj_lW i[ Z_iebl_Œ fWiWZe [b c[Z_eZ‡W$ Bei cWd_\[ijWdj[i gk_i_[hed ^WXbWh Z_h[YjWc[dj[ Yed [b Fh[i_Z[dj[ HW\W[b 9ehh[W" Wfhel[Y^WdZe ik fWhWZW [d IW#
b_dWi feh bW h[_dWk]khWY_ÂŒd Z[b \[hheYWhh_b [d [b jhWce ?XWhhW# IWb_dWi$ De Yedi_]k_[hed ^WY[hb[ bb[]Wh Z_h[YjWc[dj[ ik f[Z_Ze$
.2ĹŠ1#!+ ,.2
Bei cWd_\[ijWdj[i [n_][d gk[ [b <_iYWb Z[ 9WhY^_" Hegk[ =eo[i" fh[ij[ Wj[dY_Œd Wb fheXb[cW Z[ @edWj^Wd 8[hdWhZe :[b]WZe" gk_[d [ij| W fkdje Z[ i[h [d`k_# Y_WZe o de fk[Z[ jhWXW`Wh Yed dehcWb_ZWZ Z[iZ[ `kd_e Z[ [ij[ W‹e$ @edWj^Wd [nfb_YW YŒce Yed ckY^e [i\k[hpe iWYŒ kd YWc_Œd W YhƒZ_je" fW]WdZe YkejWi Z[ c_b +&& ZŒbWh[i c[dikWb[i fWhW Z[# Z_YWhi[ W bW jhWdifehjWY_Œd$ ;b ',
ēŊ (ĹŠ3(#-#ĹŠ +%ĂŒ- ĹŠ(-$.1, !(¢-ĹŠ "#+ĹŠ/ 1 "#1.ĹŠ"#ĹŠ 1 -*+(-ĹŠ 1!(2.ĹŠ (- ĹŠ + 2ĹŠ!.,4-~04#2#ĹŠ +ĹŠ3#+_$.-.ĹŠ"#ĹŠ24ĹŠ 3~ ĹŠ (+5( ēŊŊćĒÄ?đĒĉĒĈČē
FWjh_Y_e 9$" gk[ [d kdW l[hi_Œd _d_Y_Wb Wi[]khŒ gk[ l_e W ik fh_# ce ieXh[ [b fk[dj[ Z[b h‡e C_hW" f[he Z‡Wi c|i jWhZ[" iŒbe WZc_# j_Œ ^WX[hbe l_i_je Y[hYW Wb i[Yjeh$ Bei \Wc_b_Wh[i Z[b Z[iWfWh[# Y_Ze [ij|d ikcWc[dj[ Wd]ki# j_WZei feh bW ik[hj[ Z[b `el[d$ KdW ck`[h YkhWdZ[hW Z[b i[Yjeh b[i ^WXh‡W Z_Y^e gk[ <hWdab_d i[ [dYk[djhW [dj[hhWZe kd a_bŒc[# jhe WZ[djhe ZedZ[ \k[ ^WbbWZe ik fWdjWbŒd$ >eo" i_ [b Yb_cW be f[hc_j[" [b =E; Yedj_dkWh| bei jhWXW`ei Z[ X‘igk[ZW$
Ĺ—ĹŠĹŠ
$ ;d bW f_ijW Z[ Wl_W# Y_ÂŒd i[ fheZk`e kd _dY[dZ_e" bW f[eh fWhj[ bW bb[lÂŒ bW l[hZ[ l[][jWY_ÂŒd gk[ gk[ZÂŒ [d Y[d_pWi$ Bei fhef_[jWh_ei Z[ bWi YecfW‹‡Wi Z[ \kc_]WY_ÂŒd gk[ [ij|d Yeb_dZWdj[i W Zed# Z[ ikY[Z_ÂŒ [b ^[Y^e" cWd_\[i# jWhed gk[ b[i [djhÂŒ [b f|d_Ye oW gk[ [b \k[]e i[ [dYedjhWXW Y[hYW o Yece [d bW [ijWY_ed[i j[d‡Wd YecXkij_Xb[" [b Ă“ W][be i[ feZ‡W Yedl[hj_h [d Wb]e Z[ cWoeh[i fhefehY_ed[i$ I[ YWbYkbW kd |h[W Z[ '&& c[jhei gk[cWZW$
"#+ĹŠÄ‰Ä‡Ĺ˜ĹŠ"#+ĹŠ3.3 +ĹŠ"#ĹŠ+ ĹŠ,#1! "#1~ ĹŠ(-! 43 " ĹŠ/ 1 ĹŠ1#!4/#1 1ĹŠ24ĹŠ! ,(¢-ēŊ 23.ĹŠ #04(5 +#ĹŠ ĹŠÄŒÄ‡ĹŠ,(+ĹŠ"¢+ 1#2ĹŠ04#ĹŠ#+ĹŠ $#!3 ".ĹŠ 2#%41 ĹŠ-.ĹŠ"(2/.-#1ĹŠ"#ĹŠ-(-%4- ĹŠ$.1, ēŊŊŊŊŊŊŊŊ ĹŠĹŠĹŠĹŠĹŠĹŠĹŠ +ĹŠ! ,(¢-ĹŠ-4#5.ĹŠ"#ĹŠ!.-3 ".ĹŠ3(#-#ĹŠ#+ĹŠ,(2,.ĹŠ5 +.1ēŊ +ĹŠ (2! +ĹŠ .04#ĹŠ .8#2ĔŊ-.ĹŠ 04(2.ĹŠ#-31#% 1ĹŠ-(-%4- ĹŠ"#!+ 1 !(¢-ĹŠ ĹŠ#23#ĹŠ1.3 3(5.ĹŠ 1%4,#-3 -".ĹŠ04#ĹŠ-.ĹŠ!.-Äą !#"#ĹŠ#-31#5(23 2ĹŠ/.1ĹŠ5~ ĹŠ3#+#$¢-(! Ä“ ĹŠĹŠĹŠĹŠĹŠĹŠĹŠ .2ĹŠ, -($#23 -3#2ĹŠ 2#%41 -ĹŠ5.+5#1ĹŠ ĹŠ!#11 1ĹŠ+ 2ĹŠ5~ 2ĹŠ#-ĹŠ 1/4#+ ĹŠ' 23 ĹŠ04#ĹŠ + 2ĹŠ 43.1(" "#2ĹŠ2.+4!(.-#-ĹŠ#+ĹŠ/1. +#, ĹŠ8ĹŠ+#ĹŠ/#1,(3 -ĹŠ ĹŠ#23#ĹŠ'., 1#ĹŠ!.-3(-4 1ĹŠ 31 ) -".ĹŠ8ĹŠ2.23#-#1ĹŠ ĹŠ24ĹŠ$ ,(+( Ä“
Z[ `kd_e Z[ [ij[ W‹e" ik Y^e\[h h[Ye]_Œ kdW c[hYWZ[h‡W [d bW Y_kZWZ Z[ JkbY|d Yed Z[ij_de W Gk_je$ Bei Zk[‹ei Z[ bW c[hYWZ[h‡W b[ Wi[]khWhed gk[ bei pWfWjei" hefWi" f[h\kc[i o b_Yeh[i gk[ _XW W jhWdifehjWh j[d‡Wd jeZei bei ZeYkc[djei [d h[]bW$ I_d [cXWh]e" [d [b Yedjheb
WZkWd[he Z[ IWd =WXh_[b" bei W][dj[i Z[ bW 7ZkWdW Z[j[YjWhed WdehcWb_ZWZ[i [d bW Z[YbWhWY_Œd Z[ YWh]W$ Bei Zk[‹ei Z[ bW c[hYWZ[# h‡W" gk_[d[i _XWd [d kd l[^‡Ykbe fWhj_YkbWh Z[bWdj[ Z[b YWc_Œd ^ko[hed Z[b bk]Wh$ De b[i _cfeh# jŒ f[hZ[h bW c[hYWZ[h‡W o de i[ iWX[ dWZW c|i Z[ [bbei$
/$ ,Ĺ‹ . (# Ĺ‹*),Ĺ‹ ,) )Ĺ‹ Ĺ‹/(Ĺ‹. & 0#-),Ĺ‹
, (%&#(ąŋÝÝŋ v -Ĺ‹ Ĺ‹'#-. ,#)- Ĺ‹ - * ,# #š( ;b fWiWZe Zec_d]e" * Z[ Z_Y_[c# Xh[" <hWdab_d C_dW" \k[ l_ije feh ‘bj_cW l[p Yed l_ZW feh iki \W# c_b_Wh[i" Wc_]ei o l[Y_dei [d [b YWi[h‡e ()+" f[hj[d[Y_[dj[ W bW Yeckd_ZWZ DWhWd`_je" i[Yjeh IWd @[hÂŒd_ce$ ?d\hkYjkeiWi ^Wd h[ikbjWZe bWi ef[hWY_ed[i Z[ X‘igk[ZW [cfh[dZ_ZWi feh [b 9k[hfe :[ 8ecX[hei o [b =hkfe Z[ Ef[hW# Y_ed[i ;if[Y_Wb[i Z[ bW Feb_Y‡W" fWhW ZWh Yed ik fWhWZ[he$ BW \Wc_b_W Z[ <hWdab_d" `kdje W bW Yeckd_ZWZ jWcX_ƒd h[Wb_pÂŒ X‘igk[ZWi ^WijW [b i[Yjeh Z[b =kWZkWb" f[he de ^Wo hWijhei Z[b `el[d Z[ (* W‹ei" iWble [b fWdjWbÂŒd gk[ bb[lWXW fk[ije [iW deY^[$ BW ‘bj_cW f[hiedW gk[ l_e Yed l_ZW W <hWdab_d" [i ik fh_ce
;2ĹŠ"#3 ++#2 Ĺ—ĹŠĹŠ +ĹŠ! ,(¢-ĹŠ"#ĹŠ .- 3' -ĹŠ ēĔŊ#23;ĹŠ"#3#-(".ĹŠ"#2"#ĹŠ)4-(.ĹŠ#-ĹŠ#+ĹŠ"#23 ! ,#-3.ĹŠ "4 -#1.ĹŠ"#ĹŠ '4 1!.!' ēŊ #ĹŠ+#ĹŠ#7(%#ĔŊ2#%ĂŒ-ĹŠ#+ĹŠ!¢"(%.ĹŠ"#ĹŠ+ ĹŠ/1."4!!(¢-ĔŊ#+ĹŠ/ %.ĹŠ
-!#-"(.ĹŠ$.1#23 +ĹŠ ! 42.ĹŠ/;-(!.
KdW ck`[h Z[ '. W‹ei Z[ [ZWZ" \k[ YWfjkhWZW feh Feb_Y‡Wi ceje# h_pWZei [b fWiWZe cWhj[i" YkWdZe i[ ikijhW‡W kdW j[b[l_i_Œd B9: Z[ '/ fkb]WZWi Z[ kd WbcWYƒd Z[ [b[YjheZecƒij_Yei [d fb[dW YWbb[ I|dY^[p o 9_\k[dj[i o 9ebŒd$ ;hWd Wfhen_cWZWc[dj[ bWi '.0&&" YkWdZe Wb _dj[h_eh Z[b be# YWb" bW f[hiedW gk[ Wj_[dZ[" fhe# Y[Z_Œ W h[Wb_pWh kdW \WYjkhW W kd Yb_[dj[$ AWj^[h_d[ =$" bW ieif[Y^eiW" Wfhel[Y^Œ bW i_jkWY_Œd fWhW [i# YedZ[h [d kdW Y^ecfW Z[ Yk[he Yebeh YW\ƒ" bW j[b[l_i_Œd dk[lW gk[ [ijWXW [d ik YW`W eh_]_dWb$ BW `el[d ck`[h ^koŒ Yed [b Whj[\WYje feh [b 9[djhe 9ec[h# Y_Wb FWiW`[ ?XWhhW$ ;b Zk[‹e Z[b beYWb Yec[hY_Wb b[ Z_e WbYWdY[ o b[ [n_]_Œ gk[ Z[iYkXhW be gk[ jhW‡W eYkbje [d bW Y^ecfW$ ;\[Yj_lW#
#ĹŠ/#% 1.-ĹŠÄˆÄ‡ĹŠ3(1.2ĹŠ !#1! ĹŠ"#ĹŠ24ĹŠ! 2
Ĺ—ĹŠ ĹŠ }$ Ik`[jei Z[iYedeY_# Zei" gk[ l_W`WXWd W XehZe Z[
kd WkjecŒl_b XbWdYe" b[ Z[i# YWh]Whed kdW h|\W]W Z[ XWbWi W 8hWdZb[o IehdepW$ I[]‘d bei \Wc_b_Wh[i Z[b \Wbb[Y_Ze" Z[iZ[ j[cfhWde i[_i ik`[jei W XehZe Z[ jh[i cejei Wd# ZWXWd ZWdZe lk[bjWi feh [b i[Yjeh Z[ cWd[hW ieif[Y^e# iW" fei_Xb[c[dj[ jhWjWdZe Z[ beYWb_pWh W ik l‡Yj_cW$
.ĹŠ' ++ 1.-ĹŠ/.1ĹŠ242ĹŠ 9 / 3.2ĹŠ"#/.13(5.2
Ĺ—ĹŠ ĹŠ $ Bei pWfWjei Z[fehj_# lei XbWdYei Z[ @eiƒ JWXWd]e" ēŊ .2ĹŠ+.! +#2ĹŠ!.,#1Äą !( +#2ĹŠ"#+ĹŠ!#-31.ĹŠ"#ĹŠ 11 ĹŠ2.-ĹŠ4-ĹŠ !.-23 -3#ĹŠ + -!.ĹŠ"#ĹŠ+.2ĹŠ+ "1.-#2ĹŠ 04#ĹŠ /1.5#!' -ĹŠ#+ĹŠ,~-(,.ĹŠ"#2!4(".ĹŠ / 1 ĹŠ' !#1ĹŠ"#ĹŠ+ 2ĹŠ248 2Ä“
c[dj[" bW ck`[h bb[lWXW Yedi_]e bW B9:$ AWj^[h_d[ =" gk_[d de fh[i[d# jW Wdj[Y[Z[dj[i" \k[ bb[lWZW ^WijW bei YWbWXepei Z[b 9:F ^WijW gk[ Yedj_d‘[d bWi _dZW]WY_ed[i$
f[hc_j_[hed W iki \Wc_b_Wh[i iWX[h gk[ ik YWZ|l[h i[ [d# YedjhWXW *+ c[jhei Wb \edZe Z[ kdW gk[XhWZW Yedj_]kW W bW l‡W Wdj_]kW gk[ YedZkY[ W bW feXbWY_Œd Z[ =kWbe$ Bei Z[kZei XkiYWXWd Wb ^ecXh[ Z[ )- W‹ei Z[iZ[ bW deY^[ Z[b fWiWZe ) Z[ Z_Y_[cXh[$ 9ed i[‹Wi Z[ ^WX[hi[ ]eb# f[WZe bW YWX[pW" [b Yk[hfe Z[ JWXWd]e \k[ h[iYWjWZe feh c_[cXhei Z[b =hkfe Z[ Ef[hWY_ed[i ;if[Y_Wb[i$
ŏ ŏ
ŏ
Ďć! , 41 Ĕũ 1!'(
ũ ũ
^ ũĈČũ ũ ũĉćĈĈ
(-!+ēũ
Čćũ :
+ũ! ";5#1ũ"#ũ -(#+ũ ..1ũ++#%¢ũ 8#1ũ ũ .13.5(#).ēũ +ũ!4#1/.ũ "#+ũ4-($.1, ".ũ$4#ũ31 2+ " ".ũ5~ ũ _1# ũ ũ -3 ũ8ũ+4#%.ũ ũ24ũ +4% 1ũ- 3 +ēũ +ũ2.+" ".ũ,41(¢ũ#-ũ 4+!;-ēũ (+(3 1#2ũ"#+ũ 4#13#ũ (+(3 1ũ - ~ũ1(-"(#1.-ũ'.-.1#2ũ ũ24ũ!.,/ #1.ēũ : ũ ĈĒ
1 , ũ#-ũ (-3#1#2!.+ 1#2
#1" "#1 2ũ#,.!(.-#2ũ"#ũ "1 , ũ8ũ +#%1~ ũ2#ũ5(5#-ũ#-ũ +.2ũ)4#%.2ũ(-3#1#2!.+ 1#2ũ"#ũ $Ì3 .+ũ2 + ēũ .8ũ!.-3(-Ì -ũ +.2ũ/ 13(".2ũ"#ũ14, .ũ ũ + 2ũ2#,(ăũ- +#2ũ"#+ũ! ,/#ı .- 3.ēũ : ũ ĈĊ
ũ(+42(¢-ũ-.ũ+#2ũ 04(3 ũ- "(#
4#+#ũ ũ"(5.1!(. ũ 31.ũ, 31(,.-(.ũ"#ũ .++86.."ũ/#-"#ũ
"#ũ4-ũ'(+.ēũ '.1 ũ2.-ũ (++ũ ,(3'ũ8ũ " ũ (-*#33ēũ : ũ Ĉć
(% ũ"#ũ 4(3.ũ 42! ũ 1#5#13(1ũ#-ũ -3( %.ũ+ ũ "#11.3 ũćıĈũ04#ũ345.ũ#-ũ .-!( -.ũ -3#ũ+ ũ ēũ"#ũ '(+#ēũ .8ũ2#ũ!.-.!#ũ +ũ ! ,/#¢-ēũ : ũ ĈĎ