Alerta Naranja Inflacionario

Page 1

Responsab ilidad & emp resas

8zF (. $ ELD<IF ('/ $ DXiqf )'(' $ ),

R&E H[ifediW

X_b_ZWZ o ;

cfh[iWi

Atentas a las tes del paĂ­s, necesidades mĂĄs urgencada vez animan a mĂĄs empre ser sas se a los jĂłven parte del cambio. Educar es, en diversos mejorar la calidad de aspectos y escuchar vida demandas de un plane las algunas de ta las premisas necesitado son acciones que guĂ­an socialment e responsabl sus lo largo de estas es. A distintos rubro pĂĄginas, comp aùías de su experiencia s, con paso ďŹ rme, cuentan .

Hacer la diferenc ia

EspaĂąa I\\jkilZkliXZ`Â?e [\ cX \ZfefdˆX `Y„i`ZX

Hacer la diferencia CX ZlXikX \[`Z`Â?e [\c jlgc\d\ekf I <

Real Estate K`\dgf [\ le d\iZX[f d}j fi[\eX[f

8zF (. $ ELD<IF ('/ $ D8IQF )'('

8c\ikX eXiXeaX `eÕXZ`feXi`f J`\k\ \Zfefd`jkXj [\ gi`d\i e`m\c fg`eXe jfYi\ cfj gi\Z`fj \e XjZ\ejf p cX Xej`\[X[ hl\ ^\e\iX \e cfj d\iZX[fj

4

8zF (. $ ELD<IF ('/ $ D8IQF )'('

<[`kfi`Xc <e YljZX [\ cfj `em\ijfi\j d`efi`kXi`fj <e cfj X fj .'# cfj hl\ ÔeXeZ`XYXe cfj [ ÔZ`k [\ cfj <jkX[fj# f X cXj \dgi\jXj \iXe# \jg\Z ÔZX$ d\ek\# cfj YXeZfj Zfd\iZ`Xc\j% <e cfj X fj /'# ]l\ife cfj fi^Xe`jdfj dlck`cXk\iXc\j cfj hl\ j\ fZlgXife [\ ÔeXeZ`Xi X cfj \jkX[fj p \c d\iZX[f [\ ZXg`kXc\j# X cXj \dgi\jXj% <e cX [ ZX[X [\ cfj 0' p \c gi`eZ`g`f [\ cfj X fj )'''# Zfe cX ^iXe \ogXej` e [\ cfj d\iZX[fj [\ ZXg`kXc\j p d\[`Xek\ cX k`klcXi`qXZ` e [\ cXj [\l[Xj# ]l\ife cfj `em\ijfi\j `ejk`klZ`fe\j# i\$ gi\j\ekX[fj gfi cfj ]fe[fj [\ g\ej` e# f ]fe[fj Zfdle\j [\ `em\ij` e p i\k`if# cfj ^iXe[\j Zfd$ giX[fi\j [\ \jfj k klcfj p ]l\ife# [\ \jk\ df[f# cfj ^iXe[\j gifkX^fe`jkXj [\c ÔeXeZ`Xd`\ekf [\ cfj <jkX[fj p [\ cXj \dgi\jXj% CX Zi`j`j ÔeXeZ`\iX Zfd\eqX[X X Ôe\j [\ )''.# dXiZf le ZXdY`f \e cX g\iZ\gZ` e [\c i`\j^f [\ cfj [`jk`ekfj `em\ijfi\j [\c d\iZX[f% D}j [\jZfeÔXeqX jfYi\ cfj \d`jfi\j [\ [\l[X# g\if kXdY` e d}j [\jZfeÔXeqX jfYi\ cfj X[$ d`e`jkiX[fi\j [\ ZXik\iX# hl\# \e Ôe# m`\e[f cfj i\jlckX[fj# ]l\ife gXik\ [\c gifYc\dX p ef leX jfclZ` e Xc d`jdf% J d\c\ X \jkf \c gifZ\jf [\ i\Zfem\ij` e [\ cXj i\^cXj hl\ i`^\e Xc j`jk\dX ÔeXeZ`\if dle[`Xc% CX j\Zl\eZ`X m`m`[X j\i X Xj 1 cX j`klXZ` e [\ cfj YXeZfj p [\ dlZ_Xj \dgi\jXj gi`mX[Xj fYc`^ X cfj <jkX[fj \e ^\e\iXc X gcXe`ÔZXi le gcXe [\ jXcmXkXa\# hl\ \e gfZXj gXcXYiXj j`^e`ÔZXYX ^X$ iXek`qXi cX c`hl`[\q [\c j`jk\dX gi`mX[f d\[`Xek\ cX \d`j` e [\ Yfefj g Yc`Zfj# gXiX \m`kXi Zfii`[Xj p [\gi\Z`XZ`fe\j p ^XiXek`qXi Xj Èjfcm\eZ`XÉ Xc j`jk\dX ÔeXeZ`\if% 8[\d}j# le gcXe [\ `eZ\ek`mfj Xc Zfejldf# gXiX i\XZk`mXi cXj \Zfefd Xj p ^\e\iXi le Z i$ Zlcf m`iklfjf% <jfj `eZ\ek`mfj Zfej`jk`\ife \e YXaXi `dgl\jkfj p Xld\ekXi \c ^Xjkf p cX `em\i$ j` e g Yc`ZX% <e j ek\j`j# cfj <jkX[fj Xld\ekXife jl [\l[X# p Xc d`jdf k`\dgf Xld\ekXife jl [ ÔZ`k# ZfYiXe d\efj `dgl\jkfj p k`\e\e d}j ^Xjkfj# ZfZk\c

\ogcfj`mf hl\ [\i`m \e \c Xld\ekf [\ cX [\j$ ZfeÔXeqX \e >i\Z`X# \e <jgX X# \e Gfikl^Xc# \e @icXe[X# \kZ% DfiXc\aX# Xld\ekf \e cX g\iZ\gZ` e [\ i`\j^f jfYi\ cX \d`j` e [\ [\l[X \jkXkXc% Gfi fkif cX[f# dlZ_fj `em\ijfi\j \jk}e [\j`clj`f$ eX[fj Zfe jlj X[d`e`jkiX[fi\j [\ gfikX]fc`fj# hl`\e\j ZfYiXife leX Zfd`j` e gXiX _XZ\icf gfi dlZ_f k`\dgf# cX dXpfi X ef gl[f \jZXgXij\ [\ cX Zi`j`j p ljk\[ jXY\ \c \efaf hl\ j`^e`ÔZX gXiX le `em\ijfi _XY\i gX^X[f leX Zfd`j` e gfi cX X[$ d`e`jkiXZ` e p _XY\i g\i[`[f gcXkX% <ekfeZ\j# dlZ_fj `em\ijfi\j `e[`m`[lXc\j Xpl$ [X[fj gfi \c XmXeZ\ [\ cXj k\Zefcf^ Xj# _Xe [\$ Z`[`[f j\i jlj gifg`fj X[d`e`jkiX[fi\j% DlZ_fj d\iZX[fj X[\d}j pX c\j [Xe XZZ\jf [`i\Zkf d\$ [`Xek\ gcXkX]fidXj \c\Zki e`ZXj% <jkf mX X ZXdY`Xi j`e [l[Xj \c dXgX [\ cXj ]`$ eXeqXj# pX hl\ X_fiX X cfj \d`jfi\j pX j\Xe g Yc`Zfj f gi`mX[fj ef c\j mX X XcZXeqXi Zfe j\$ [lZ`i j cf X le gXi [\ X[d`e`jkiX[fi\j [\ ]fe$ [fj# j`ef hl\ X[\d}j mXe X k\e\i hl\ YljZXi Z df cc\^Xi X d`ccfe\j [\ `em\ijfi\j d`efi`kX$ i`fj# [`jg\ijfj \e \c dle[f# }m`[fj [\ `e]fidX$ Z` e d}j gi\Z`jX p j\^liX% Le `e[`m`[lf# gfi eXkliXc\qX# \j d}j ZfikfgcXZ`j$ kX hl\ le ]fe[f% <jkf gifmfZXi} le d\iZX[f dlp gif]le[f# d}j ]}Z`c [\ fg\iXi g\if dlZ_f d}j mfc}k`c# p \jX mfcXk`c`[X[ ^\e\iXi} cX e\Z\j`[X[ [\ gifZ\jXi ZX[X m\q d}j `e]fidXZ` e# fZXj`feXe$ [f d}j [\dXe[X [\ d\[`fj \jg\Z`Xc`qX[fj# d}j Xj\jfi\j `e[\g\e[`\ek\j# YXaXi} cX Zfd`j` e gXiX \a\ZlkXi leX fi[\e# p jlY`i} j` [X mXcfi X^i\^X[f \e cX `ek\igi\kXZ` e [\ cX `e]fidXZ` e% <e j ek\j`j# d\iZX[fj d\efj ZfeZ\ekiX[fj# d}j Xkfd`qX[fj# d}j jlg\iÔZ`Xc\j# d}j ^cfYXc`qX[fj gfi cXj gifg`Xj gcXkX]fidXj# d}j d\[`Xk`qX[fj# Zfe \oZ\jfj [\ `e]fidXZ` e# d}j \eZX[\eX[fj% @ek\i\jXek\ [\jX] f gXiX cfj X fj hl\ m`\e\e# le d\iZX[f Zfe d}j gXik`Z`gXek\j `e[`m`[lXc\j# d}j [`jg\ijfj ] j`ZXd\ek\ g\if# Xc d`jdf k`\d$ gf# d}j le`[fj gfi cX Zfdle`ZXZ` e Z`Y\ie k`ZX%

*

7yE '- DÂą '&. BVgod$6Wg^a '%&%

JldXi`f */

CX d\j\kX [\c )' Zfk`qX \e XjZ\ejf p Zi`jgX cfj e\im`fj 8c\ikX eXiXeaX `eÕXZ`feXi`f% :lXe[f cfj \jg\Z`Xc`jkXj \Z_Xe dXef Xc [`ZZ`feXi`f[\ cXj Xek\jXcXj [\ Zi`j`j%

*

<[`kfi`Xc

-

?fjk`Xj1 F cX Zi`j`j \ZfeÂ?d`ZX \jgXÂŒfcX

('

8 d`elkfj [\ cX el\mX XjleZ`Â?e gi\j`[\eZ`XcÂż \e \c Lil^lXp

(-

CX 9fcjX p cX `eÕXZ`�e

)'

<mfclZ`Â?e [\ 8ZZ`fe\j [\c GXe\c >\e\iXc

))

ÂśCX Zfii\ZZ`Â?e kXe \jg\iX[X6

)+

<mfclZ`�e [\ cXj 8ZZ`fe\j Cˆ[\i\j

)-

CX jfaX p \c dXˆq Zfe g\ijg\Zk`mXj XcZ`jkXj

*'

Fg\iXZ`fe\j# g`[\% CX >\i\eZ`X =`eXeZ`\iX cf _XZ\ gfj`Yc\Âżf ef

*)

Gi\m\eZ`�e [\c cXmX[f [\ XZk`mfj1 el\mfj [\jX]ˆfj gXiX )'('

*+

<jkX[ˆjk`ZXj jfYi\ \c gXki`dfe`f YXaf X[d`e`jkiXZ`�e

*-

=fe[fj Zfdle\j1 LeX `em\ij`Â?e gfj`Yc\

,'

I\Xc <jkXk\1 )'(' p le d\iZX[f `edfY`c`Xi`f d}j fi[\eX[f

,)

Gpd\j1 cXj JfZ`\[X[\j [\ >XiXekˆX Zfdf XZZ\jf Xc Ă”eXeZ`Xd`\ekf

,+

Ăˆ;\Y\dfj Xpl[Xi X cfj \a\Zlk`mfj X Zfem`m`i Zfe cX `eZ\ik`[ldYi\É

,-

:fXZ_`e^ Zfd\iZ`Xc

,0

I <1 ?XZ\i cX [`]\i\eZ`X

-'

CX IJ< \e k`\dgfj [\ Zi`j`j

-+

CX `e[ljki`X p \c d\[`f XdY`\ek\# dlp c\afj [\ cX Xek`efd`X

--

D`e\iX 8cldYi\iX1 8idfeˆX p kiXYXaf Zfealekf

-/

Hl`cd\j1 CX `dgfikXeZ`X [\ cfj mXcfi\j jXcl[XYc\j# gXiX le dle[f d\afi

.'

9Xp\i1 LeX ZlckliX gXiX m`m`i

.)

Jpe^\ekX1 8^i`ZlckliX jljk\ekXYc\ gXiX leX gfYcXZ`Â?e \e Zi\Z`d`\ekf

.+

K\Zefcf^`Zf [\ Dfek\ii\p1 CX \[lZXZ`Â?e Zfdf Zfdgifd`jf

.-

KfpfkX 8i^\ek`eX1 :feZ`\eZ`X# ZfeÔXeqX p i\jgfejXY`c`[X[

./

NXcdXik 8i^\ek`eX1 <e cX YÂ’jhl\[X [\jfclZ`fe\j jljk\ekXYc\j

/'

9i\m\j

/)

8lkfj1 B`X Df_Xm\

/+

K\e[\eZ`Xj Kli`jdf1 ;fj [ˆXj gXiX ZXdY`Xi [\ X`i\

/-

Efm\[X[\j \e \c dle[f \dgi\jXi`f

:_h[Yjeh ;Z_jeh_Wb GV�a <^WZgbVc :_h[Yjeh ;`[Ykj_le EZYgd EdchV :_h[Yjeh 9ec[hY_Wb ?jVc B^a^aad ;Z_Y_ed F[h_eZ‡ij_YW HdaZYVY 6\jVYd HdaZYVY 6kVXV 8jZcXV 9ebkcd_ijWi 6Yg^{c Jgfj^oV EVWad EVdajXX^ 9g# EVWad 7gdYZg >c\# 6cYgZV 8dchda^c^ AZdcVgYd EViVXX^c^ 9ebWXehWY_Œd [if[Y_Wb 8aVjY^d OjX]dk^X`^ 8dci# <VWg^Za 8Vhigd ?dh‚ 6oe^gdo 8dhiV ?VX`^Z BVjWg‚ GdWZgid 7aVcXd ;VXjcYd BVgi†cZo EVgYd EVWad EVdajXX^ GjWZc Jaa�V 9g# ?dh‚ BVg†V HVa^cVh Egd[# BVjg^X^d =‚Xidg A^WhiZg ?d\ehc[i Z[ [dj_ZWZ[i Cdh^h H#6# :Xdcdb{i^XV 8A6K:H >c[dgbVX^‹c 8dbeZi^i^kV >6B8 >chi^ijid 6g\Zci^cd BZgXVYd YZ 8Ve^iVaZh >chi^ijid 6g\Zci^cd YZ :_ZXji^kdh YZ ;^cVcoVh IkiYh_fY_ed[i o FkXb_Y_ZWZ0 CViVa^V ;Zgc{cYZo IZaZ[Vm#/ )(&&"*%%( IZa/ )-.)"%+*. :_h[YY_Œd Z[ Whj[ o Z_i[‹e0 6cYgZV EaVi‹c n H^akVcV HZ\� 7hcWZe o 9ecfei_Y_Œd0 K^Xidg ;# 8VhVYd 6aoVh 7V_Vh ZY^iVYV edg GV�a <^WZgbVc Z =^_dh '* YZ bVnd (), E^hd + D[# +&* 8Ve# ;ZY# 6g\Zci^cV ^c[d5VaoVhnWV_Vh#Xdb#Vg ]iie/$$lll#VaoVhnWV_Vh#Xdb#Vg GZ\^higd YZ aV Egde^ZYVY >ciZaZXijVa Zc ig{b^iZ

@dgi\j`�e1 8ik\j >i} ]`ZXj 9ljZ_` J% 8% 9DH>H 68DCH:?696 :hiZ bZY^d! idbVYd Zc Ydh^h cdgbVaZh! cd edhZZ XdcigV^cY^XVX^dcZh# IdYd ZmXZhd! Va iZg\^kZghVg! bVa ji^a^oVg aVh de^c^dcZh kZgi^YVh! d ^ciZgegZiVg ^cYZW^YVbZciZ Za VaXVcXZ egZk^VbZciZ Zhi^bVYd edg adh ZY^idgZh! Zh g^Zh\d ZmXajh^kd YZa ^ciZgZhVYd# HZ igViV YZ jcV gZk^hiV YZ de^c^‹c! aV fjZ ejZYZ XVZg Zc Zfj^kdXVX^dcZh! d edh^X^dcZh gZWVi^WaZh# AV 9^gZXX^‹c ejZYZ! d cd! XdbeVgi^g XdcXZeidh YZ adh Xdajbc^hiVh! VjcfjZ cd Z_ZgXZ XZchjgV Va\jcV# Edg iVcid! cd hZ gZhedchVW^a^oV edg aVh b^hbVh#

+

<Zfefd X ^cfYXc

È·?fjk`Xj É

F cX Zi`j`j \Zfe d`ZX \jgX fcX ;\ cX ZfdgXiXZ` e ZXj` Zfdg\k`k`mX \eki\ >i\Z`X p <jgX X jfYi\ cX ^iXm\[X[ [\ jlj i\jg\Zk`mXj Zi`j`j X le Xe}c`j`j [\ j`klXZ` e1 \c [ ÔZ`k gi\jlgl\jkXi`f# \c [\j\dgc\f p cX ]XckX [\ ÔeXeZ`XZ` e dl\jkiXe dlZ_f d}j hl\ leX Zi`j`j Z Zc`ZX1 j\ m`m\ le i\Xaljk\ \jkilZkliXc [\ jl \Zfefd X

C\feXi[f GXkXZZ`ee` 8eXc`jkX \Zfe d`Zf

;

liXek\ kf[f \c ck`df ]\Yi\if cX dXpfi gXik\ [\ cfj d\[`fj [\ Zfdle`ZXZ` e \jgX fc\j _Xe k\e`[f le k\dX \oZclp\ek\# hl\ \e dlZ_fj ZXjfj XcZXeqXYX# ZXj`# cX fYj\j` e% <jk\ \iX cX ZfdgXiXZ` e f \c [`jkXeZ`Xd`\ekf [\ jl gX j Zfe i\jg\Zkf X >i\Z`X% Ef \j# ZcXif \jk}# hl\ \e cX jfZ`\[X[ \jgX fcX j\ _XpX [\jg\ikX[f le j Y`kf `ek\i j gfi cX ZlckliX _\c e`ZX Zc}j`ZX# j`ef hl\ cX ^iXm\ Zi`j`j \Zfe d`ZX hl\ \jk}e XkiXm\jXe[f cfj [fj \jkX[fj d\[`$ k\ii}e\fj \dglaX `e\m`kXYc\d\ek\ X cX Xj`d`cXZ` e [\ jlj ZXjfj% 8c^lefj ^iXe[\j i\]\i\ek\j [\ cX \Zfefd X dle[`Xc j\ _Xe gifele$ Z`X[f ^iXm\d\ek\ jfYi\ \c k\dX# Zfdf Efli`\c IflY`e`# GXlc Bil^$ dXe# \c =`eXeZ`Xc K`d\j p K_\ \Zf$ efd`jk# Xc\ekXe[f f XgXZ`^lXe[f \c dfiYf [\c g Yc`Zf `Y i`Zf# hl\ Xj`jk\ `dgXj`Yc\ Xc \jg\Zk}Zlcf Zfdf j` j\ kiXkXiX [\ le i\Xc`kp j_fn# X cfj hl\ jfe kXe X]\Zkfj \e \jkXj k`\iiXj% ;\ _\Z_f# gifYXYc\d\ek\ cf e`Zf X cf hl\ ef j\ _X cc\^X[f kf[Xm X gXiX [\k\id`eXi j` XdYXj \Zfefd Xj jfe ZfdgXiXYc\j f ef# \j X leX mfkXZ` e k\c\] e`ZX% Le \a\dgcf d}j hl\ \cf$ Zl\ek\ i\jg\Zkf Xc e`m\c [\ YXeXc`qX$ Z` e ZXj` XYjli[f hl\ _X X[hl`i`[f \jkX dXk\i`X \j cX gifc`]\iXZ` e [\ Ycf^j p g}^`eXj n\Yj hl\ `ek\ekXe

-

`ejkil`i f gif]\k`qXi jfYi\ \c k\dX# Zfdf j` j\ kiXkXiX [\ le ZfeZlijf [\ fi`^`eXc`[X[ kXc\j jfe cfj ZXjfj [\ nnn%Zi`j`j'0%\j f nnn%Zi`j`j\$ Zfefd`ZX)'('%Zfd % <e kf[f ZXjf# fg`eXdfj# \c k\dX ]le[Xd\ekXc ef gXjX gfi [\k\id`$ eXi j` <jgX X \j >i\Z`X f \j <jgX X# j`ef \e [\Ôe`i Zl}c\j jfe jlj gifYc\$ dXj ZfeZi\kfj p XkXZXicfj [\ cX dX$ e\iX d}j \ÔZ`\ek\% 8 Zfek`elXZ` e c\ f]i\Z\dfj leX Yi\m j`dX j ek\j`j [\ cX XZklXc`[X[ [\ cX Zi`j`j \jgX fcX p [\ jlj g\ijg\Zk`mXj X ]lklif% CX j`klXZ` e <e \jk\ dfd\ekf# \o`jk\e ki\j gifYc\dXj `ed\[`Xkfj X cfj ZlXc\j [\Y\ _XZ\i ]i\ek\# j`dlck}e\Xd\e$ k\# cX \Zfefd X \jgX fcX1 \c [ ÔZ`k gi\jlgl\jkXi`f# \c [\j\dgc\f p cX ]XckX [\ ÔeXeZ`XZ` e% <e ZlXekf Xc gi`d\if [\ \jkfj# j\ _X [`jgXiX[f \e \c ck`df X f# gXjXe[f [\c +#( [\c G9@ \e )''/ Xc ((#+ le X f d}j kXi[\% <jkX ]l\ cX i\jgl\jkX `ed\[`XkX p gfi i\Õ\afj [\c ^fY`\i$ ef Xek\ cX `dgXiXYc\ ZX [X [\ cX XZk`m`[X[ \Zfe d`ZX% CX \Zfefd X \jgX fcX XZldlcX j`\k\ ki`d\jki\j Zfej\Zlk`mfj \e i\kifZ\jf p kf[X$ m X ef _Xp `e[`Z`fj ZcXifj [\ hl\ j\ mXpX X i\Zlg\iXi \e cf `ed\[`Xkf% D`\ekiXj cXj gi`eZ`gXc\j \Zfefd Xj [\c dle[f pX Zfd\eqXife jl i\Zl$ g\iXZ` e# \c G9@ \jgX fc [\ )''0 ZXp le *#- i\jg\Zkf X )''/# Zfe le Zi\Z`d`\ekf `ek\iki`d\jkiXc [\ $'#( \e \c ck`df ZlXikf [\c X f% <jk} ZcXif hl\ \c ^fY`\ief ef gf[i} jfjk\e\i Xhl\ccfj e`m\c\j [\ [ ÔZ`k gXiX \jk\ X f hl\ Zfd`\eqX# gfi cf

ZlXc# cf ^iXe[\j Z iZlcfj ÔeXeZ`\ifj ^cfYXc\j c\ _Xe \o`^`[f le i\Xaljk\ \jkilZkliXc li^\ek\ \e jlj Zl\ekXj# X[lZ`\e[f hl\ \c ]l\ik\ Zi\Z`d`\ekf hl\ \og\i`d\ek <jgX X \e cfj X fj gi\Z\[\ek\j ]l\ `dglcjX[f gfi le Yffd `edfY`c`Xi`f# g\if \jk\ ef \iX jfjk\e`Yc\ p j\ _X `[f gXiX j`\dgi\% <c gifYc\dX# ZcXif# \j hl\ XgXi\ek\$ d\ek\ j\ [`\ife Zl\ekX [\ \jkf le gfZf kXi[\% <c j\^le[f \jZfccf hl\ [\Y\ jl$ g\iXi cX \Zfefd X \jgX fcX \j# gif$ YXYc\d\ek\# \c d}j ^iXm\ [\ kf[fj# gfi kiXkXij\ [\ le dXc gXiX \c ZlXc ef _Xp le Xek [fkf `ed\[`Xkf1 cX [\j$ fZlgXZ` e% <e \jk\ dfd\ekf# cX kXjX [\ [\j\dgc\f \jgX fcX _X jlg\iX[f cXi^Xd\ek\ cfj (0 glekfj gfiZ\eklX$ c\j p# j\^ e kf[Xj cXj \jk`dXZ`fe\j# j\ \jg\iX hl\ [liXek\ kf[f )'(' j\ j`k \ gfi \eZ`dX [\c )' % <jkf jlgfe\ e` d}j e` d\efj hl\ Xci\[\$ [fi [\ +#, d`ccfe\j [\ gXiX[fj% G\if \c m\i[X[\if gifYc\dX ef \jk} \e \c e d\if [\ g\ijfeXj j`e kiXYXaf _fp# j`ef \e cXj gfj`Y`c`[X[\j i\Xc\j [\ cX \Zfefd X \jgX fcX [\ f]i\Z ij\cf dX XeX% P j`eZ\iXd\ek\# \jkXj ef jfe eX[X Xc\ekX[fiXj% DlZ_fj [\ \jkfj gXiX[fj jfe cfj [\jgfafj [\ leX YliYlaX [\ cX ZfejkilZZ` e hl\ XZXYX [\ \jkXccXi p gXiX cX ZlXc ef _Xp# Xc d\efj \e \c d\[`Xef gcXqf# g\ijg\Zk`mXj [\ i\XZk`mXZ` e% ;\ _\Z_f# cfj YXeZfj \jgX fc\j k`\e\e \e jl gf[\i d}j [\ *'%''' d`ccf$ e\j [\ \lifj \e XZk`mfj `edfY`c`Xi`fj X[al[`ZX[fj gfihl\ cfj gi\jkXkXi`fj ef gl[`\ife jXk`j]XZ\i jlj [\l[Xj _`gfk\ZXi`Xj# _Xp d}j [\ ki\j d`ccf$ e\j [\ m`m`\e[Xj [\jfZlgX[Xj# cf

hl\ jlgfe\ Xgifo`dX[Xd\ek\ leX gfi ZX[X (+ _XY`kXek\j p cfj gi\Z`fj [\ cfj `edl\Yc\j _XY`kXYc\j ZXp\ife# Xc Z`\ii\ [\ )''0# le () i\jg\Zkf X cfj e`m\c\j d}o`dfj XcZXeqX[fj [l$ iXek\ cfj XÂŒfj [\c Yffd% El\mXd\ek\# \c ^fY`\ief \jgXÂŒfc _X i\jgfe[`[f gfi `ejk`ekf \e \jk\ ZXdgf# gi\j\ekXe[f leX gifgl\jkX [\ i\]fidX \e \c j`jk\dX [\ g\e$ j`fe\j hl\ Zfek\dgcX# \eki\ fkiXj d\[`[Xj# \c i\kiXjf \e cX \[X[ [\ alY`cXZ`Â?e gXiX ^XiXek`qXi \c dXek\$ e`d`\ekf [\c j`jk\dX X d\[`f p cXi^f gcXqf% <jk\ \j le d\ejXa\ d}j hl\ ZcXif [\ hl\ ef \jg\iXe i\`eZfigf$ iXi X cfj gXiX[fj \e \c Zfikf gcXqf p hl\# gfi cf kXekf# cfj i\Zlijfj gXiX Ă”eXeZ`Xi \c j`jk\dX [\ g\ej`fe\j [\Y\i}e j\i fYk\e`[fj gfi fkiXj mˆXj% <c gifp\Zkf Zfej`jk\ \e i\kiXjXi gif^i\j`mXd\ek\ cX \[X[ [\ i\k`if _XjkX cfj -. XÂŒfj XZklXcd\ek\ \j X cfj -, # d\[`[X hl\ pX ]l\ XgifYX$ [X p \jk} j`\e[f Xgc`ZX[X \e gXˆj\j Zfdf ?fcXe[X p 8c\dXe`X Xlehl\ [\ dXe\iX dlZ_f d}j \jZXcfeX[X p ZXlk\cfjX % CXj gXkifeXc\j \lifg\Xj p \jgXÂŒfcXj# gfi jl gXik\# _Xe jXcl$ [X[f ZXclifjXd\ek\ cX gifgl\jkX [\c ^fY`\ief jfZ`Xc`jkX [\ QXgXk\if# Zfej`[\i}e[fcX Zfdf leX d\[`[X ĂˆXYjfclkXd\ek\ Zfii\ZkXÉ p hl\ mX Ăˆ\e cX [`i\ZZ`Â?e X[\ZlX[XÉ% =`eXcd\ek\# \c k\iZ\i fYjk}Zlcf hl\ [\Y\i} jXcmXi <jgXÂŒX \e jl ZX$ d`ef _XZ`X cX i\Zlg\iXZ`Â?e \j \c [\ cX ]XckX [\ Ă”eXeZ`XZ`Â?e f# d}j gi\Z`$ jXd\ek\ Xle# \c [\ cX ZfeĂ”XeqX% Cfj \]\Zkfj [\ cX Zi`j`j \ZfeÂ?d`ZX _Xe k\e`[f le ]l\ik\ `dgXZkf \e \c j`j$ k\dX Ă”eXeZ`\if% <c `eZldgc`d`\ekf [\ gX^fj gfi gXik\ [\ \dgi\jXj p gXik`ZlcXi\j# jldX[f X cXj ^\jk`f$ e\j `ii\jgfejXYc\j# _Xe i\hl\i`[f cX `ek\im\eZ`Â?e [\c <jkX[f \e Xc^leXj \ek`[X[\j Ă”eXeZ`\iXj% GXiX jXe\Xi cXj Zl\ekXj [\ \jk\ j\Zkfi# j\ _X [`j\ÂŒX[f le =fe[f [\ I\\jkilZ$ kliXZ`Â?e [\ Fi[\eXZ`Â?e 9XeZXi`X =IF9 # d\[`Xek\ \c ZlXc \c 9XeZf [\ <jgXÂŒX _X \jkXYc\Z`[f le gifkf$ Zfcf [\ XZklXZ`Â?e gXiX# \e ZXjf e\$

Z\jXi`f# i\jZXkXi X cXj ZXaXj `ek\im\$ e`[Xj \e d\efj [\ +/ _fiXj# p X jl m\q# fi[\eXi cX ]lj`�e [\ cXj [`jk`ekXj ZXaXj hl\ g\ik\e\qZXe X leX d`jdX gifm`eZ`X# gXiX ^XiXek`qXi cX \o`j$ k\eZ`X [\ `ejk`klZ`fe\j ]l\ik\j% J`e \dYXi^f# X g\jXi [\ cfj \j]l\iqfj [\c ^fY`\ief# i\jkXYc\Z\i cX ZXcdX \e cfj `em\ijfi\j ef j\i} leX kXi\X j\e$ Z`ccX% CX jldXkfi`X [\ cXj ^XeXeZ`Xj fYk\e`[Xj \e )''0 gfi cXj dXpfi\j ZfdgXŒˆXj \jgXŒfcXj Zfk`qX[Xj# `e$ Zcl`[Xj \e \c @Y\o *,# ]l\ [\ +(%*-* d`ccfe\j [\ \lifj# cf hl\ jlgfe\ le

É8 g\jXi [\ cfj \j]l\iqfj [\c ^fY`\ief# i\jkXYc\Z\i cX ZXcdX \e cfj `em\ijfi\j ef j\i} j\eZ`ccf1 cXj ^XeXeZ`Xj fYk\e`[Xj \e )''0 gfi cXj dXpfi\j ZfdgXŒˆXj \jgXÂŒfcXj Zfk`qX[Xj# ]l\ [\ +(%*-* d`ccfe\j [\ \lifj# )' d\efj hl\ cfj Y\e\Ă”Z`fj [\c XÂŒf Xek\i`fiÉ

ZXj` )' d\efj hl\ cfj Y\e\Ă”Z`fj fYk\e`[fj \c XÂŒf Xek\i`fi% J\ kiXkX [\c j\^le[f \a\iZ`Z`f Zfej\Zlk`mf [\ ZXˆ[Xj \e cXj Zl\ekXj \dgi\jXi`Xc\j# Xc^f aXd}j m`jkf [\j[\ hl\ Zfd\e$ qÂ? X lk`c`qXij\ \jk\ ˆe[`Z\ Ylij}k`c# \e (00)% <jkfj `e[`ZX[fi\j# d}j cfj k\dfi\j ZfeZi\kfj [\ ZfekX^`f [\ cX \g`[\d`X ^i`\^X# klm`\ife e\]Xj$ kfj \]\Zkfj gXiX cX YfcjX \jgXÂŒfcX% <e leX [\ cXj gi`d\iXj il\[Xj [\ ]\Yi\if# cXj [\j`em\ij`fe\j i\jkXife ))%+'' d`ccfe\j [\ ZXg`kXc`qXZ`Â?e Xc @Y\o# _XZ`„e[fcf ZX\i le - # \e jl g\fi afieX[X [\j[\ efm`\dYi\ [\ )''/% <e \jX fgfikle`[X[# ]l\ife cXj ZfejkilZkfiXj p cfj YXeZfj hl`\e\j c`[\iXife le [\jZXcXYif Ylij}k`c hl\ [lgc`ZÂ? Xc [\c i\jkf [\ <lifgX% CXj g\ijg\Zk`mXj GXiX X]ifekXi \jk\ \jZ\eXi`f# \c ^fY`\ief \jgXÂŒfc _X gi\j\ekX[f le gcXe [\ Xljk\i`[X[ d\[`Xek\ \c ZlXc gi\k\e[\ X_fiiXi ,'%''' d`ccfe\j [\ \lifj _XjkX )'(* \ `eZclp\# \eki\ fkiXj Zl\jk`fe\j# leX i\[lZZ`Â?e \e cfj ^Xjkfj [\ g\ijfeXc [\ cXj 8[d`$ e`jkiXZ`fe\j gÂ’Yc`ZXj )#- d`ccfe\j [\ \dgc\X[fj [\ le + i\jg\Z$ kf X )''0% Fkif [\ cfj fYa\k`mfj \j

.

<ZfefdˆX ^cfYXc

)" "0& ) $ &

$

&'%"& $

'&*,%' !"& $ ()"- '

'&*,%' !"& $

')% "0& ),+ ("+ $ "#'

% & & "'& $

.(')+ "0& " & * / * )-" "'*

%(')+ "0& " & * / * )-" "'*

+') .+ )"')

%($ '

* ( )'

)' , +"-" (') ' ,( '

[\jZ\e[\i \c [„ÔZ`k gÂ’Yc`Zf [\j[\ \c XZklXc ((#+ Xc * \e )'(*% <jkf `eZcl`i} leX i\[lZZ`Â?e Ăˆ`dgfikXek\É [\c eÂ’d\if [\ \dgi\jXj gÂ’Yc`ZXj# j\^Â’e cX m`Z\gi\j`[\ekX p d`e`jkiX [\ \ZfefdˆX# <c\eX JXc^X[f% <jgXÂŒX Zl\ekX _fp \e [ˆX Zfe +.+ Ă”idXj \j$ kXkXc\j p \c `em\ekXi`f `eZclp\ [\j[\ 8<E8# hl\ ^\jk`feX cfj X\ifgl\ikfj# _XjkX leX jfZ`\[X[ ccXdX[X 9XiZ\$ cfeX ?fc[`e^ Fcˆdg`Zf% FkiX d\[`[X [\c gXhl\k\ hl\ _X \eZ\e[`[f cX gf$ c„d`ZX ]l\ cX jlY`[X [\c @M8 gXiX \jk\ m\iXef \lifg\f% <c k`gf jlg\ii\[lZ`$ [f j\ dXek\e[i} \e \c + # \c i\[lZ`$ [f gXjXi} [\c . Xc / p \c ^\e\iXc# [\c (- Xc (/ % :fe \ccf# \c >fY`\ief ZXcZlcX hl\ i\ZXl[Xi} ,%(,' d`ccf$ e\j [\ \lifj \okiXj \eki\ )'(' p )'((% <e \jk\ Xjg\Zkf# \j `dgfikXek\ j\ÂŒXcXi hl\ <jgXÂŒX gfj\\ lef [\ cfj @M8 d}j YXafj Zfe i\cXZ`Â?e Xc G9@ [\ kf[X <lifgX# jÂ?cf jlg\iX[f gfi Clo\dYli^f% ?XZ`X gi`eZ`g`fj [\ )''0# Afj„ Cl`j If[iˆ^l\q QXgXk\if _XYˆX mXk`Z`$ eX[f ĂˆleX jXc`[X `ed`e\ek\ [\ cX i\$ Z\j`Â?e \e [`Z`\dYi\É% G\if cX g„j`dX \mfclZ`Â?e [\c \dgc\f \e cfj Â’ck`dfj d\j\j [\c XÂŒf p le [\Z\gZ`feXek\ Xgfik\ [\c j\Zkfi \ok\i`fi Xiil`eXife

/

jl gif]\ZˆX% 8_fiX# ]i\ek\ X le gXef$ iXdX d}j i\Xc`jkX# j\ \jg\iX kf[XmˆX leX ZXˆ[X \e \c G9@ [\ '#* gXiX )'(' p hl\ cX j\e[X [\c Zi\Z`d`\ekf j\X i\kfdX[X \e )'((% Âś:l}c\j ]l\ife cfj kXe ^iXm\j g\ZX[fj \ZfeÂ?d`Zfj Zfd\k`[fj gfi <jgXÂŒX gXiX XZXYXi Zfe[\$ eX[X Xc `ejfe[XYc\ `eĂ”\ief [\ cX i\Z\j`Â?e6 <c gi`eZ`gXc [\ \ccfj ]l\ m`m`i [liXek\ le cXi^f k`\dgf dlp gfi \eZ`dX [\ jlj gfj`Y`c`[X[\j i\Xc\j% <c Xc\^i\ Ă•fi\Z`d`\ekf [\ _`gfk\ZXj p Ă”eXeZ`XZ`fe\j j`e cX \o`^\eZ`X [\ cfj i\jgXc[fj g\ik`$ e\ek\j \j cX ^iXe ZXljX [\ \jkX [\YXZc\% <jk\ kjleXd` [\ c`hl`[\q [`jgXiÂ? `eZfek\e`Yc\d\ek\ cfj gi\Z`fj# gi`eZ`gXcd\ek\ cfj `edf$ Y`c`Xi`fj# p ^\e\iÂ? \ofiY`kXek\j e`$ m\c\j [\ f]\ikX gXiX cfj ZlXc\j pX ef hl\[X jlĂ”Z`\ek\ [\dXe[X% ÂśGfi hl„ <jgXÂŒX j\^l`i} \e i\Z\j`Â?e d`\ekiXj \c i\jkf [\ cXj \ZfefdˆXj [\jXiifccX[Xj pX Zf$ d\eqXife jl i\Zlg\iXZ`Â?e6 J`d$ gc\1 Gfihl\ cf hl\ \jk} XkiXm\jXe$ [f <jgXÂŒX \j dlZ_f d}j hl\ leX Zi`j`j ZˆZc`ZX% J\ kiXkX \e i\Xc`[X[ [\ le i\Xaljk\ \jkilZkliXc [\ jl \ZfefdˆX% :`\ikXd\ek\# cXj YX$

j\j jfYi\ cXj hl\ klmf cl^Xi kf[f \c [\jXiifccf [\ cfj XÂŒfj gi\Z\[\ek\j ef \iXe jfjk\e`Yc\j% G\if \c d„i`kf ef \j# Zfdf _Xe _\Z_f dlZ_fj jl$ gl\jkfj Ăˆ^liÂ’\jÉ [\ cXj Ă”eXeqXj# j\ek\eZ`Xicf X_fiX# ZlXe[f cX Yli$ YlaX pX _X \jkXccX[f# j`ef X[m\ik`icf ZlXe[f „jkX j\ \eZfekiXYX \e gc\$ eX \ogXej`Â?e p \c ZfcXgjf kf[XmˆX gf[iˆX _XY\i j`[f \m`kX[f% Cf hl\ c\ hl\[X X_fiX gfi [\cXek\ X <jgXÂŒX \j le cXi^f ki\Z_f [\ Xalj$ k\j p iXZ`feXc`qXZ`Â?e% <c jXe\Xd`\ekf [\ jlj Zl\ekXj [\mfcm\i} cX ZfeĂ”Xe$ qX X cfj `em\ijfi\j \ok\iefj p# [\ X gfZf# cfj ZXg`kXc\j mfcm\i}e X Ă•l`i% :fe cX Xpl[X [\ jlj jfZ`fj \l$ ifg\fj# cX \ZfefdˆX `Y„i`ZX j\ c\mXekXi} p _XYi} Xj`d`cX[f cXj c\ZZ`fe\j [\ \jkX ZXˆ[X gXiX \c ]l$ klif% <c gifYc\dX# \j hl\ hl`\e\j i\Xcd\ek\ gX^Xi}e \c gi\Z`f [\ \jk\ Xgi\e[`qXa\ j\i}e cfj d`ccfe\j [\ [\jfZlgX[fj gXiX cfj ZlXc\j \c d\iZX[f cXYfiXc \jgXÂŒfc ef k\e[i} cl^Xi% 8hl\ccfj hl\ [\Y\i}e d`iXi gfi k\c\m`j`Â?e# Zfdf \e le i\Xc`kp j_fn# cX i\Zlg\iXZ`Â?e \ZfeÂ?d`ZX [\ <jgXÂŒX p hl\ kXdY`„e [\Y\i}e mfkXi# g\if \jkX m\q# ef jÂ?cf gfi k\$ c„]fefÂż

<Zfefd X

CX el\mX XjleZ` e

gi\j`[\eZ`Xc¿ \e \c Lil^lXp

LeX m\q d}j j\ Xj`jk\ \e \c Lil^lXp X leX kiXej`Z` e gi\j`[\eZ`Xc# Zfe le gi\j`[\ek\ jXc`\ek\ hl\ j\ i\k`iX \e \c dXiZf [\ le e[`Z\ `dgfikXek\ [\ fg`e` e g Yc`ZX ]XmfiXYc\ p# le \ekiXek\ hl\# Xek\j [\ `e`Z`Xi jl g\i f[f# gif[lZ\ _\Z_fj hl\ pX _Xe j`[f efk`Z`X gfj`k`mX \e kf[f \c dle[f

GXYcf 9if[\i <Zfefd`jkX Xi^\ek`ef% Jl ck`df c`Yif1 ÈD`kfj p i\Xc`[X[\j \e cX \iX B%É <[`Z`fe\j DXZZ_`

<

e \]\Zkf# \c (' [\ ]\Yi\if ck`$ df# \c gi\j`[\ek\ \c\Zkf Dla`$ ZX# Xcdfiq \e GlekX [\c <jk\ Zfe (,'' \dgi\jXi`fj gi`mX[fj \e jl dXpfi X lil^lXpfj# Xi^\ek`efj p YiXj`c\ fj# ÕXehl\X[f gfi [fj \o$ gi\j`[\ek\j g\ik\e\Z`\ek\j X gXik`$ [fj X_fiX \e cX fgfj`Z` e% 8c Zf`eZ`$ [`i \e kfief [\ leX d`jdX d\jX# cfj i\]\i\ek\j [\ cXj ki\j ^iXe[\j ]l\i$ qXj gfc k`ZXj m`e`\ife X Xek`Z`gXi Zfe jl gi\j\eZ`X hl\ Dla`ZX ef XeleZ`X$ i X leX j`dgc\ gfc k`ZX [\ ^fY`\ief# \oZclj`mX [\ c p jl gXik`[f# j`ef leX gfc k`ZX [\ <jkX[f# Zfd e X kf[fj cfj lil^lXpfj% Cf efkXYc\ [\c XZkf# \eki\ fkifj Xj$ g\Zkfj i\dXiZXYc\j# ]l\ ef j cf \jX efkXYc\ Zfem\i^\eZ`X gfc k`ZX# j`ef \c d\ejXa\ [\c gifg`f Dla`ZX# hl`\e \o$ _fik X cfj \dgi\jXi`fj X XgfjkXi j`e k\dfi X jl gX j# Zfdgifd\k` e[fj\ X ÈZl`[Xi \c Zc`dX [\ cXj `em\ij`fe\j# gfihl\ ef j\ gl\[\ ^\e\iXi i`hl\qX j cf Zfe [\Z`j`fe\j c\^`jcXk`mXjÉ% <e \j\eZ`X# X Xj\^liXi cX m`^\eZ`X [\ cXj Zfe[`Z`fe\j hl\ ]XZk`Y`c`qXe cXj

('

`em\ij`fe\j1 g\ijg\Zk`mXj [\ i\ekX$ Y`c`[X[# j\^li`[X[ ali [`ZX p \jkXY`c`$ [X[ \e cfj dXiZfj `ejk`klZ`feXc\j p c\^`jcXk`mfj% 8g\eXj ÔeXc`qX[f \c XZkf# cXj Xlkfi`$ [X[\j lil^lXpXj gifekXj X Xjld`i# i\Z`Y`\ife \e ]fidlcXi`fj [`jki`Yl`$ [fj Xc \]\Zkf# (,' gifgl\jkXj Zfe$ Zi\kXj [\ gifp\Zkfj [\ `em\ij` e# p +/ _fiXj d}j kXi[\# \j\ e d\if hl\[ [lgc`ZX[f% J cf leX jfZ`\[X[ hl\ gif[lZ\ i`$ hl\qX gl\[\ [`jki`Yl`icX p d\afiXi \c e`m\c [\ m`[X [\ jl ^\ek\% GXiX \ccf j\ e\Z\j`kXe `em\ij`fe\j% P Dla`ZX cf \ek`\e[\ p Xj cf _X \ogi\jX[f% D`\ekiXj kXekf# \e cX 8i^\ek`eX# le fYj\imX[fi hl\ `ek\ek\ j\i fYa\k`mf# j\ gl\[\ \eZfekiXi Zfe le gXef$ iXdX ZXj` [\jfcX[fi1 gfi le cX[f# Xlj\eZ`X [\ gfc k`ZXj [\ \jkX[f# `e\o`jk\ek\j [\j[\ _XZ\ cXi^fj X fj# [`j]iXqX[X gfi le kfii\ek\ [\ XgX$ i`Z`fe\j g Yc`ZXj [\ cX Gi\j`[\ek\ Xi^\ek`eX# Xi\e^Xe[f p [\a}e[fj\ XgcXl[`i gfi leX gcXk\X X[`ZkX# Zfe XeleZ`fj i\`k\iX[fj p XkXhl\j j`j$ k\d}k`Zfj X cX fgfj`Z` e# cX gi\ejX p kf[fj Xhl\ccfj hl\ ef Zf`eZ`[Xe Zfe jl g\ejXd`\ekf% D`\ekiXj hl\ cX XZk`m`[X[ ]le[Xd\ekXc [\c gf[\i \a\Zlk`mf \jk} Z\ekiX[X \e \e]i\e$ kXi# j`e o`kf# leX `eÕXZ` e Zi\Z`\e$ k\# `dgfj`Yc\ [\ j\i pX fZlckX[X# X g\jXi [\ cX YlicX [\c e[`Z\ fÔZ`Xc [\

gi\Z`fj# p jl glaX gfi _XZ\i m`XYc\ le [\Zi\kf gi\j`[\eZ`Xc hl\ hl`jf \Z_Xi dXef X -,'' d`ccfe\j [\ [ cXi\j [\ cXj i\j\imXj [\c 9XeZf :\ekiXc# pX Zfd\ekX[f \e \jkXj ZfcldeXj# p hl\ gfi cX XZZ` e fgfikleX [\ le Zfe^i\jf [`]\i\ek\ p leX aljk`Z`X ef ZfdgcXZ`\ek\# ef j\ _X gf[`[f X e# \e dfd\ekfj [\ \jZi`Y`i \jkXj c $ e\Xj# m`XY`c`qXi% <jkf j\ `ejZi`Y\ \e \c dXiZf [\ leX \Zfefd X Zfe j\i`Xj [`ÔZlckX[\j# Zfe leX dXpfi X hl\ pX ef Zfdlc$ ^X Zfe \c dXki`dfe`f gi\j`[\eZ`Xc# p Zfe le ifjXi`f [\ ZXljXj hl\ j\ mXe XYi`\e[f# [\eleZ`Xe[f XY`\ikXd\e$ k\ leX ZfiilgZ` e j`e gi\Z\[\ek\j% J`dlck}e\Xd\ek\# cX Gi\j`[\ek\ ccX$ dXYX Èg\iifjÉ \e g Yc`Zf X jlj fgf$ j`kfi\j# p jlj d`e`jkifj [\jZlYi Xe le ^fcg\ [\ <jkX[f \e leX glYc`Z`$ kX[X i\le` e [\ le gXik`[f gfc k`Zf fgfj`kfi hl\ j\ _XZ X Xek\ g\i`f[`j$ kXj p ]fk ^iX]fj% <c =fe[f [\c 9`Z\ek\eXi`f CX gi`fi`kXi`X li^\eZ`X [\c >fY`\ief \j _XZ\i XgifYXi \c ccXdX[f =fe[f [\c 9`Z\ek\eXi`f# hl\ jlgfe\ k\e\i YXaf Zfekifc [\c <a\Zlk`mf d}j [\ -%,'' d`ccfe\j [\ [ cXi\j [\ cXj i\$ j\imXj [\c 9XeZf :\ekiXc% CX iXq e \j hl\ cfj jlg\i}m`k ÔjZXc\j jfe ZfjX [\c gXjX[f# p cX 8i^\ek`eX \jk} ]l\iX [\ cfj d\iZX[fj [\ ÔeXeZ`X$

<C C@9<IK8I@F

M@E:< 8CFE>@

Dla`ZX XkiX\ gifp\Zkfj [\ `em\i$ j` e \e Lil^lXp

ÈCXj Xlkfi`[X[\j lil^lXpXj gifekXj X Xjld`i# i\Z`Y`\ife \e ]fidlcXi`fj [`jki`Yl`[fj [liXek\ leX Zfd`[X gi\m`X X jl XjleZ` e# (,' gifgl\jkXj ZfeZi\kXj [\ gifp\Zkfj [\ `em\ij` e# p +/ _fiXj d}j kXi[\# \j\ e d\if hl\[ [lgc`ZX[fÉ

Z` e mfclekXi`X \e \c dle[f% <e fkiXj gXcXYiXj# j\ \jk} hl\[Xe[f j`e ]fe$ [fj% P cfj B`iZ_e\i ef jXY\e Z df j\ gl\[\ ^fY\ieXi Xj % Hl`j`\ife Xgifg`Xij\ [\c =fe[f X jl dXe\iX kiX[`Z`feXc# Zfe gi\gfk\eZ`X# X kiXm j [\ le ;\Zi\kf [\ E\Z\j`[X[ p Li^\eZ`X% G\if \c :fe^i\jf [\ )'(' pX ef \j \c d`jdf hl\ \c [\ _XZ\ ef dlZ_f k`\dgf% Jl clZ_X \e \c J\eX[f gXiX Zfej\$ ^l`i cX XgifYXZ` e [\c [\Zi\kf \j Zl\igf X Zl\igf# f mfkf X mfkf% CX el\mX Zfdgfj`Z` e [\ cX :}dXiX [\ ;`glkX[fj \j ZcXiXd\ek\ fgfj`kfiX% 8 jl m\q# cX Aljk`Z`X dl\jkiX ef k\e\i gi\dliXj gXiX i\jfcm\i cfj gifYc\dXj [\c \a\Zlk`mf% Le Xi^l$ d\ekf [\ cX gi`d\iX Z}dXiX al[`$

:i`jk`eX B`iZ_e\i gl^eX gfi \c =fe[f [\c 9`Z\ek\eXi`f

Z`Xc hl\ XZ\gk le gcXek\f [\c \o gi\j`[\ek\ [\c 9XeZf :\ekiXc \e \jkX Zl\jk` e \j \c j`^l`\ek\1 j` cXj i\j\imXj j\ e\Z\j`kXiXe i\Xcd\ek\ p j`# Zfdf j\ jXY\# cfj m\eZ`d`\e$ kfj d}j `dgfikXek\j [\ cX [\l[X g Yc`ZX j\i}e j cf X d\[`X[fj [\ X f# ¶gfi hl cX Gi\j`[\ekX ef ZfemfZ X j\j`fe\j \okiXfi[`eX$ i`Xj [\c :fe^i\jf \e [`Z`\dYi\ gXiX hl\ jk\ kiXkXiX jl gifp\Zkf \e cl^Xi [\ [`ZkXi le [\Zi\kf [\ e\Z\j`[X[ p li^\eZ`X6 ¶Gfi hl cX :fik\ [\Y\i X i\jfcm\i X_fiX \j\ gifYc\dX6 ¶Gfi hl [\Y\i Xe j\i cfj al\Z\j cfj hl\ [\Z`[Xe hl gif$ kX^fe`jkX gfc k`Zf k`\e\ cX iXq e6 D}o`d\ j` cXj j\j`fe\j fi[`eXi`Xj c\^`jcXk`mXj Zfd\eqXYXe \c gi`d\i [ X [\ dXiqf% CX `eÕXZ` e¿ %%%i\jlckX \e i\Xc`[X[ \c gi`eZ`gXc gifYc\dX gfc k`Zf$\Zfe d`Zf [\ cfj B`iZ_e\i% <e \j\eZ`X gfihl\ X]\ZkX \e ]fidX [`i\ZkX \c Yfcj`ccf [\ cfj hl\ d\efj k`\e\e# hl\ jfe cfj d}j% <c ^fY`\ief b`iZ_e\i`jkX# hl\ [l$ iXek\ \j\ g\i f[f Xgc`Z gfc k`ZXj gif`eÕXZ`feXi`Xj# jl\c\ i\XZZ`feXi ZlXe[f jlj \]\Zkfj \jk}e X cX m`j$ kX# g\if eleZX Xjld\ i\jgfejXY`$ c`[X[ jfYi\ cXj ZXljXj1 cX ZlcgX \j

j`\dgi\ [\ cfj fkifj% CX 8i^\ek`eX klmf * [\ `eÕXZ` e \e )''*2 - \e )''+2 () \e )'',2 (' 6 \e )''- p X gXik`i [\ \ekfeZ\j# X g\jXi [\c @e[\Z# fjZ`c \e le iXe^f [\ (* X (/ # hl\ gf[i X j\i X e d}j Xckf \e )'(' pX hl\ cXj \jk`dXZ`fe\j gi`mX[Xj _XYcXe [\ le g`jf [\ )' % :X[X X f Zfe \oZ\gZ` e [\c i\Z\j`$ mf )''0 # le \jZXc e d}j Xckf% Le ZfefZ`[f \eZl\jkX[fi# dlp Z\iZXef Xc ^fY`\ief# j\ Xc \e lef [\ jlj _XY`klXc\j `e]fid\j gXiX Xc^lefj ^i\d`fj hl\ \c XcqX [\ cfj gi\Z`fj [\ cfj Xc`d\ekfj [liXek\ \e\if ]l\ [\c *' % Gfi jl gXik\# kiXjZ\e[` hl\ \c j\Zi\$ kXi`f [\ :fd\iZ`f p i\jgfejXYc\ [\c @E;<: È[\dfi cX [`]lj` e [\c gXik\ f]`Z`Xc jfYi\ cX `e]cXZ` e [\ \e\if _XjkX hl\ E jkfi B`iZ_e\i jXc`\iX [\c jXeXkfi`f% <ekfeZ\j j\ i\le` Zfe c p XdYfj mfcm`\ife X d\ek`i1 \c Xld\ekf f]`Z`Xc [\ cfj gi\Z`fj ]l\ [\c lef ¿É ( <c d`e`jkif [\ \Zfefd X p jlj ]iXj\j d\dfiXYc\j <c d`e`jkif [\ <Zfefd X e\^ hl\ \o`jkX \e \c gX j le gifZ\jf `e]cXZ`feXi`f# g\if Zfej`[\i hl\ cf hl\ j \o`jk\ \j le ·i\XZfdf$ [Xd`\ekf [\ cfj gi\Z`fj i\cXk`mfj

((

<Zfefd X

<c 9XeZf :\ekiXc# \e \c d\[`f [\ cfj k`ife\fj gfi cfj ]fe[fj

[\ Xc^lefj gif[lZkfj ) KXdY` e [`af \e [\ZcXiXZ`fe\j iX$ [`Xc\j hl\ ÈcX ]fidX [\ hl\ ef _XpX k\ej` e \e cfj gi\Z`fj \j aljkXd\ek\ hl\ cXj \dgi\jXj gl\[Xe `em\ik`i d}j [`e\if# gif[lZ`i d}j p i\jgfe$ [\i Xc Zi\Z`d`\ekf Zfe d}j gif[lZ$ Z` eÉ% * :XY\ i\Zfi[Xi# kXc Zfdf j\ j\ Xc \e \jkXj ZfcldeXj \e fgfikle`[X[\j Xek\i`fi\j# hl\ \c Xi^ld\ekf `e`Z`Xc [\c >fY`\ief gXiX cXeqXi \c Zfekif$ m\ik`[f =fe[f# \iX hl\ Xj j\ gf[ X gX^Xi cX [\l[X \ok\ieX# d}j cl\^f hl\ j\ [XYX Zi\[`Y`c`[X[ p ZfeÔXeqX X cfj d\iZX[fj# p ÔeXcd\ek\# \e Xc$ ^ e [`jZlijf j\ _XYc [\ [\jk`eXi cfj ]fe[fj X fYiXj g Yc`ZXj% 8_fiX \c Xi^ld\ekf \j YXaXi cX `eÕX$ Z` e m X `eZ\ek`mf X cX `em\ij` e% K`\e\ iXq e \c d`e`jkif ZlXe[f [`Z\ hl\ _Xp i\XZfdf[Xd`\ekf [\ gi\$ Z`fj% G\if ef j\ kiXkX [\ le ]\e d\$ ef X`jcX[f j`ef [\ekif [\ le gifZ\jf \e \c hl\ cX `eÕXZ` e j`^l\ jlY`\e[f# Xlehl\ \c @e[\Z j\ _XpX \eZXi^X$ [f [\ ef i\^`jkiXi jl i\Xc dX^e`kl[

()

[\j[\ _XZ\ \oXZkXd\ek\ ki\j X fj% @ek\ekXi e\^Xicf i\jlckX ZXj` `e]Xek`c% Gfi jl gXik\# \e \c XiiXehl\ [\ )'('# cfj i\XZfdf[Xd`\ekfj XcZ`j$ kXj X cfj hl\ Xcl[\ 9fl[fl \eki\ fkifj j\ \eZl\ekiXe gfi \a\dgcf \e ZXie\j p c}Zk\fj% AljkXd\ek\ j\Zkfi\j \e cfj hl\ \c >fY`\ief [\jXc\ekXYX cX f]\ikX \e jl XYjli$ [X Zfe]ifekXZ` e Zfe \c X^if% KXdY` e# cfj jXcXi`fj :fe cX `eÕXZ` e \e \jZXcfe\j d}j Xckfj kXdY` e jlY\e cXj [\dXe[Xj jXcXi`Xc\j% MXi`fj ^i\d`fj _Xe Zf$ d\eqX[f X e\^fZ`Xi Zfe i\ZcXdfj [\ ), % J\^ e cX L:<D8# cX ZXeXjkX gXiX \a\Zlk`mfj jlY` )#0 \e \e\if# Zfe le XcqX XZldlcX[X [\ (0 Xc ZXYf [\ cfj ck`dfj () d\j\j# cf hl\ \c\mX jl Zfjkf kfkXc X (-%,'' g\jfj ZfekiX (+%''' \e \e\if [\ )''0 p kf[fj jlj Zfdgfe\ek\j dl\jkiXe jlYXj [\ [fj [ ^`kfj XelXc\j% P cXj \og\ZkXk`mXj LeX \eZl\jkX g\i f[`ZX [\ g\iZ\g$

Z` e [\ gi\Z`fj# j\ XcX hl\ gXiX )'(' cfj Zfejld`[fi\j gi\m e le XcqX [\ *)#+ # ZXj` le k\iZ`f gfi \e$ Z`dX [\ cXj d}j g\j`d`jkXj gi\m`j`f$ e\j [\ cfj Zfejlckfi\j gi`mX[fj% <c >fY`\ief =i\ek\ X \jk\ gXefiXdX# cX i\jgl\jkX fÔZ`Xc Zfej`jk\ \e dXek\e\i cX \ogXe$ j` e [\c ^Xjkf g Yc`Zf gXiX YfdY\Xi cX [\dXe[X% G\if j`e le gif^iXdX \Zfe d`Zf m`j`Yc\ p Zi\ Yc\# cXj d`iX$ [Xj gXi\Z\e i\kfieXi ÆZfdf \e cfj m`\afj k`\dgfjÆ Xc [ cXi# kiX[`Z`feXc i\]l^`f [\ cfj Xi^\ek`efj% Mfcm`\e[f Xc gi`d\i g}iiX]f [\ \jkX efkX# [fe[\ \c Gi\j`[\ek\ Dla`ZX \e$ ]Xk`q cX j\^li`[X[ jfYi\ cX m`^\eZ`X [\ cXj Zfe[`Z`fe\j [\ cX `em\ij` e# \e ZfekiXgfj`Z` e ZXY\ i\Zfi[Xi hl\ \c ^fY`\ief B# Zfe jl [\jgi\Z`f X \jkXj Zfe[`Z`fe\j p jl dXefj\f `ej$ k`klZ`feXc# cf e`Zf hl\ cf^i \e \jk\ j\ek`[f ]l\ X_lp\ekXi cX `em\ij` e% J\^ e j\ XcX le `dgfikXek\ XeXc`jkX gfc k`Zf# \j gifYXYc\ hl\ cX jXc`[X [\c D`e`jkif [\ <Zfefd X j\X Z\iZXeX#

<Zfefd X

g\if ef gXi\Z\ k\e\i i\c\mXeZ`X1 È<j gifYXYc\ hl\ 8dX[f 9fl[fl gX^l\ cfj gcXkfj ifkfj [\ cX `eÕX$ Z` e¿ Jl jXc`[X gl\[\ \jkXi Z\i$ ZX% EX[`\ cf ccfiXi}¿É ( Le gXj`mf gXiX \c gi o`df >fY`\ief <eki\ cfj kXekfj gifYc\dXj hl\# ZlXc YfdYXj [\ k`\dgf \jk}e j\dYiX$ [fj cfj ZXdgfj [\ cX \Zfefd X p cX gfc k`ZX p hl\ j\i}e _\i\[X[fj gfi \c >fY`\ief hl\ jlZ\[X Xc XZklXc# lef ef d\efi cf Zfejk`klp\e cfj al`Z`fj [\ alY`cX[fj Xc <jkX[f hl\ cc\^Xife Xc i Zfi[ [\ cX [ ZX[X% <e \c k id`ef [\ cfj ck`dfj Z`eZf X fj# cX ZXek`[X[ [\ al`Z`fj `e`Z`X[fj gfi alY`cX[fj ZfekiX cX 8[d`e`jkiX$ Z` e EXZ`feXc [\ cX J\^li`[X[ JfZ`Xc 8ej\j gi}Zk`ZXd\ek\ j\ dlck`gc`Z gfi ZlXkif1 d`\ekiXj hl\ \e )''+ _lYf ).%''+ ZXljXj# cX Z`]iX ki\g X ('*%-+* \e )''0% <e kf[Xj cXj `ej$ kXeZ`Xj al[`Z`Xc\j# _Xp \e ki}d`k\ leXj )*'%''' [\dXe[Xj% * <jkX XckX al[`Z`Xc`[X[ \e cfj ck`dfj X fj kXdY` e klmf hl\ m\i Zfe cX ]XckX [\ c`hl`[XZ` e [\ j\ek\eZ`Xj \e k`\dgf p ]fidX# j`\e[f cX 8EJ<J cX i\jgfejXYc\ [\ cX dfiX% 8d`^fj jfe cfj Xd`^fj <j jXY`[f hl\ leX [\ cXj m\ik`\ek\j [\ Xgfpf gfc k`Zf [\ cfj B`iZ_e\i j\ _X YXjX[f \e cXj fi^Xe`qXZ`fe\j jfZ`Xc\j# Zi\X[Xj Zfe [\jfZlgX[fj p Y\e\ÔZ`Xi`fj [\ gcXe\j jfZ`Xc\j# hl\ _X Zfejk`kl`[f cX YXj\ [\ XZkfj# g`hl\k\j# Zfik\j# [\dfjkiXZ`fe\j p XgcXljfj ]\imfifjfj% Lef [\ jlj c $ [\i\j# \c lckiX ]le[Xd\ekXc`jkX Cl`j ;Ë<c X# g\idXe\ek\ mfZ\if [\ cXj gfj`Z`fe\j gi\j`[\eZ`Xc\j d}j Zfe$ kifm\ij`Xc\j# XgXi\Z` ZXj` Zfdf le c [\i fgfj`kfi# i\[fYcXe[f jl f]\e$ j`mX gXiX Zfej\^l`i hl\ \c >fY`\ief c\j [ Zlgfj X jlj fi^Xe`qXZ`fe\j g`$ hl\k\iXj \e \c gcXe [\ Zffg\iXk`mXj 8i^\ek`eX KiXYXaX# cXeqX[f X Ôe\j [\ )''0% ÈCX `e`Z`Xk`mX Zfej`jk\ \e cX fi^Xe`qXZ` e [\ Zffg\iXk`mXj [\ kiX$ YXaf Zfe leX Xj`^eXZ` e d\ejlXc gfi kiXYXaX[fi% <c gi\jlgl\jkf Xj`^eX[f

(+

ÈCX gfYcXZ` e# dXpfi`kXi`X# pX ef Zi\\ cfj [`jZlijfj ^e\fj [\ cfj B`iZ_e\i% PX ef XZ\gkX cXj k\fi Xj Zfejg`iXk`mXj e` cXj X^i\j`fe\j `ejk`klZ`feXc\j ^iXkl`kXj% <c gl\Ycf `e[\g\e[`\ek\# j\ ZXej É

gXiX \c gcXe \j [\ (,'' d`ccfe\j [\ g\jfj gfi cfj gi`d\ifj () d\j\j% 8c i\jg\Zkf# ;¡<c X i\ZfefZ` hl\ \c gif^iXdX `dglcjX[f gfi \c D`e`j$ k\i`f [\ ;\jXiifccf JfZ`Xc \j ÈleX `e`Z`Xk`mX \okiXfi[`eXi`X hl\ \jk} g j`dXd\ek\ Xgc`ZX[XÉ% P X^i\^ 1 È<jkf \jk} j`\e[f mfcZX[f X jfjk\e\i leX i\[ [\ glek\ifj \e \c ZfeliYXef hl\# X[\d}j# Zfdf pX cf _`Z`\ife \c )/ [\ ale`f# mXe X kiX`Z`feXi X E jkfi B`iZ_e\iÉ% <c i\ZcXdf1 cX `eZclj` e [\ jlj d`c`$ kXek\j g`hl\k\ifj \e cXj Zffg\iXk`$ mXj [\ kiXYXaf%%% P j` cX j`klXZ` e Zfe$ k`e X Xj # ;¡<c X pX Xek`Z`g cf hl\ gl\[\ fZlii`i1 ÈMX X _XY\i /'%''' k`gfj [`jgl\jkfj X jXc`i X cX ZXcc\É X gifk\jkXi ZfekiX \c >fY`\ief% Hl`\e _X j`[f le [\]\ejfi X lckiXeqX [\ cXj gfc k`ZXj X[fgkX[Xj kXekf \e cX gi\j`[\eZ`X [\ E jkfi B`iZ_e\i Zfdf \e cX [\ jl \jgfjX# :i`jk`eX =\ie}e[\q# _XjkX \c \oki\df [\ _X$ Y\i lk`c`qX[f X jl X^ilgXZ` e g`hl\$ k\iX Zfdf leX ]l\iqX [\ Z_fhl\ gXiX `dg\[`i dfm`c`qXZ`fe\j f Zfe$ Z\ekiXZ`fe\j [\ g\ijfeXj ef XÔe\j Xc b`iZ_e\i`jdf# j\ _X kiXej]fidX[f \e leX \m\eklXc Xd\eXqX gXiX \c >f$ Y`\ief%É * DXefj\f [\ cXj `ejk`klZ`fe\j CX i\cXZ` e [\ :i`jk`eX B`iZ_e\i Zfe cXj `ejk`klZ`fe\j i\jlckX ZXj` gXk $ k`Zf# Xc \oki\df [\ jljg\e[\i ck`$ dXd\ek\ le `dgfikXek j`df m`Xa\ gi\j`[\eZ`Xc alekf Zfe leX Zfd`k`mX \dgi\jXi`X X :_`eX Xek\ \c k\dfi hl\ \c m`Z\gi\j`[\ek\ :fYfj# [liXe$

k\ jl `ek\i`eXkf# ZfemfZXiX Xc :fe$ ^i\jf% 8ZklXcd\ek\# leX [\ cXj \jgX[Xj gi\j`[\eZ`Xc\j# \jk} fg\iXe[f \e \c :fe^i\jf gXiX i\jki`e^`i cXj Xki`Yl$ Z`fe\j [\c m`Z\gi\j`[\ek\ \e cX \m\e$ klXc`[X[ [\ Xc^ e `ek\i`eXkf% <c ]lklif gifd\k\[fi <c :fe^i\jf p cX Aljk`Z`X# \jk}e ZXd$ Y`Xe[f \c \jZ\eXi`f gfc k`Zf hl\ ^f$ Y\ie \e cfj ck`dfj j`\k\ X fj% CX gfYcXZ` e# dXpfi`kXi`X# pX ef Zi\\ cfj [`jZlijfj ^e\fj [\ cfj B`iZ_e\i% PX ef XZ\gkX cXj k\fi Xj Zfejg`iXk`$ mXj e` cXj X^i\j`fe\j `ejk`klZ`feXc\j ^iXkl`kXj% <c gl\Ycf `e[\g\e[`\ek\# j\ ZXej % P ]le[Xd\ekXcd\ek\# gfihl\ \e 8d i`ZX CXk`eX j\ \jk} Xj`jk`\e[f X le ]\e d\ef dlp gfj`k`mf hl\ \j \c `dg\i`f [\ cX df[\iXZ` e p \c Ôe [\ cfj ]le[Xd\ekXc`jdfj `[\fc ^`Zfj1 ^fY`\iefj hl\ gifm`e`\e[f [\ [`]\$ i\ek\j j\Zkfi\j [\c XiZf `[\fc ^`Zf Xjld\e gfjkliXj hl\ _XjkX ef _XZ\ dlZ_f ef \iXe g\ejXYc\j% KXekf \e :_`c\ Zfdf \e Lil^lXp cfj dXe[X$ kXi`fj \c\Zkfj [Xe dl\jkiX [\ \ccf% <c \a\dgcf [\ ClcX# gfi jl gXik\# \j fde`gi\j\ek\% <e kXekf# Ècf g\fi [\ B`iZ_e\i# \e$ ki\ efjfkifj# ef \j hl\ _XpX m\e`[f [\ cX `qhl`\i[X f `eZcljf hl\ _XpX Z\[`[f Zfdf eX[`\ Xek\ cfj kfig\j \eZXekfj [\ cX ZfiilgZ` e% Cf g\fi hl\ gl\[\ [\Z`ij\ [\ c \j hl\ ef _X Xgi\e[`[f% ¶<jkXi}e Xgi\e[`\e[f cfj hl\ Xjg`iXe X i\\dgcXqXicf6 <e cX df[\iXZ` e hl\ dl\jki\e# \e cX jXY`[li X hl\ Xc Ôe i\jlck\ [\ cX \o$ g\i`\eZ`X hl\ \jk}e _XZ`\e[f# i\j`$ [\# \e ck`dX `ejkXeZ`X# cX \jg\iXeqX [\ cfj Xi^\ek`efj% P j` Xc Ôe Xgi\e[\e X m`jcldYiXi# Zfdf ClcX p Dla`ZX# \c m\i[X[\if ZXd`ef [\c [\jXiifccf# _XjkX gf[i}e i\ZfefZ\i# ZlXe[f c\j cc\^l\ cX _fiX [\c YXcXeZ\# hl\ _Xe k\e`[f \e E jkfi B`iZ_e\i Xc d\afi dX\jkif `emfclekXi`f [\ cf hl\ ef _Xp hl\ _XZ\i%É + I\]\i\eZ`Xj [\c [`Xi`f C8 E8:@FE [\ 9l\efj 8`i\j1 ( AfXhl e DfiXc\j Jfc}% (+$)$('2 ) (+$)$('2 * (-$)$('2 DXi`Xef >ife[feX (+$)$('%

D\iZX[fj

CX 9fcjX p cX `eÕXZ` e CX `eÕXZ` e ef [\jXgXi\Z` \e cX 8i^\ek`eX2 j cf j\ dXeklmf le k`\dgf X[fid\Z`[X% G\if ef Zfii\jgfe[\ _XYcXi jfYi\ cfj fi ^\e\j# j`ef jfYi\ Z df cX 9fcjX gl\[\ Xpl[Xi X gifk\^\i el\jkif ZXg`kXc% Hl`\e\j \jkXdfj \e \jkf# YljZXdfj gifk\ZZ` e p dlck`gc`ZXZ` e [\c ZXg`kXc >XYi`\c :Xjkif 8eXc`jkX Ylij}k`c

:

lXe[f j\ ZfdgiXe XZZ`fe\j [\ leX \dgi\jX ÆZfdf `e$ m\ij` eÆ# j\ \jk} ZfdgiXe[f leX gXik\ [\ jlj Y`\e\j p [\ jl e\$ ^fZ`f% CX mXclXZ` e [\ leX \dgi\jX gl\[\ \jkXYc\Z\ij\ \ekfeZ\j gfi [fj m Xj1 gfi \c mXcfi [\ jlj Y`\e\j f gfi \c [\ jlj i\jlckX[fj% Cf Z`\ikf \j hl\ \c mXcfi [\ cfj Y`\$ e\j jl\c\ j\i d}j ]}Z`c [\ ZlXek`ÔZXi% <e ZXdY`f# cfj i\jlckX[fj [\c e\^f$ Z`f jfe X m\Z\j dlp Zfdgc`ZX[fj [\ \jk`dXi% G\fi X e# dlZ_Xj m\Z\j jfe ZXdY`Xek\j Zfe cXj gfc k`ZXj \Zfe $ d`ZXj# cXj Zi`j`j p cX `eÕXZ` e# \eki\ fkifj# p Xc^lefj Xaljk\j gl\[\e gif$ [lZ`i ZXdY`fj dlp `dgfikXek\j% Hl`\e\j m`m`dfj \e cX 8i^\ek`eX jXY\dfj hl\ \jfj \]\Zkfj jfe [\ ZfikX f d\[`XeX [liXZ` e p# hl\ \e \c cXi^f gcXqf# cXj ZfjXj j\ ml\cm\e X XZfdf[Xi2 Xek\j [\ [\jXZfdf[Xij\ el\mXd\ek\# gfi jlgl\jkf% ;\j[\ Z_`Zfj efj \ej\ Xife X gifk\^\iefj ZfdgiXe[f cX[i`ccfj# g\if cl\^f [\Y\dfj clZ_Xi Zfe cfj `ehl`c`efj# \c ZfejfiZ`f# cfj X[d`e`j$ kiX[fi\j# cfj dXek\e`d`\ekfj `d$ gfikXek\j# cfj `dgl\jkfj% P dlZ_fj j\ Zfem`\ik\e \e \mXjfi\j# j` ef [\ZcXiXe cfj Xchl`c\i\j f \jXj gif$ g`\[X[\j \e jlj `dgl\jkfj% Fkifj# Zi\\dfj hl\ \j d}j j\eZ`ccf p Z $ df[f ZfdgiXi \dgi\jXj hl\ kXd$ Y` e m`\e\e Zfe cX[i`ccfj# lj`eXj# ]i\$ jX[fiXj# d}hl`eXj _\iiXd`\ekXj p dlZ_fj Y`\e\j d}j% P kXdY` e Zfe \c DXeX^\d\ek hl\ X m\Z\j ZXljX

(-

Xc^lefj [fcfi\j [\ ZXY\qX Zfdg`$ k`\e[f Zfe cfj X[d`e`jkiX[fi\j [\ ZfejfiZ`fj # g\if kXdY` e _Xp dl$ Z_fj hl\ dXe\aXe el\jkif e\^fZ`f Zfe le e`m\c XckXd\ek\ gif]\j`feXc% P dlZ_Xj XZZ`fe\j `c hl`[Xj jfe d}j ]}Z`c\j [\ fg\iXi f [`m`[`i# hl\ dlZ_Xj gifg`\[X[\j% Lef gf[i X `e]\i`i Zfdf j ek\j`j hl\ cX [\Z`j` e [\ ZfdgiX [\ XZ$ Z`fe\j# YXjX[X \e cX mXclXZ` e gfi i\jlckX[fj# \j leX Xgl\jkX ]lkliX X cX Zfek`el`[X[ p&f d\afiX [\ cXj ^X$ eXeZ`Xj [\ cX \dgi\jX% <e ZXdY`f# lef ljXi X cX mXclXZ` e [\ jlj Y`\e\j Zfdf leX Xgl\jkX Xc dXek\e`d`\ekf [\c mXcfi \e \c ]lklif [\ cfj XZk`mfj% <e gifZ\jfj `eÕXZ`feXi`fj dl$ Z_fj `em\ijfi\j jfe gifZc`m\j X XgfjkXi gfi \c mXcfi [\ cfj Y`\e\j Xek\ cX `eZ\ik`[ldYi\ [\c \]\Zkf [\ cX `eÕXZ` e \e cfj i\jlckX[fj% G\if kXdY` e j\ gl\[\ _XZ\i leX Xgl\jkX [fYc\ ZlXe[f leX \dgi\jX k`\e\ XZk`mfj mXc`fjfj ef i\ZfefZ`$ [fj# gfihl\ jlj i\jlckX[fj ef jfe Yl\efj p lef Zi\\ hl\ ef _Xp dXc hl\ [li\ ('' X fj% ¶<e hl \dgi\jXj _Xp hl\ Zfe$ Z\ekiXij\6 J\ jl\c\e YljZXi XZZ`fe\j [\ \d$ gi\jXj Zfe XZk`mfj dXk\i`Xc\j ZXd$ gfj# k`\iiXj# ]}Yi`ZXj# dXhl`eXi`Xj# \kZ% # \e m\q [\ gi\]\i`i cXj [\ Y`\e\j dfe\kXi`fj j`\dgi\ X dXef [\ cX `eÕXZ` e # p d\afi j` lef \eZl\ekiX X[\d}j hl\ mXc\e gfZf \e i\cXZ` e X \jfj Y`\e\j% G\if jfe kXdY` e dlp `ek\i\jXe$ k\j Xhl\ccXj Zfe Y`\e\j mXc`fjfj p hl\ mXc\e gfZf gfi k\e\i e\^fZ`fj \jkXeZX[fj% :lXe[f jlZ\[\ \jkf# \e \j\ j\Zkfi ef _Xp `eZ\ek`mfj gXiX cXj `em\ij`fe\j% Lef [\Y\ gi\^lekXi$

j\ j`\dgi\ Zl}ekf k`\dgf j\ gf[i} gifcfe^Xi \jX j`klXZ` e% Gfi \a\dgcf# \e \c j\^d\ekf [\ ^\e\iXZ` e \c Z$ ki`ZX# [fe[\ j\ _`Z`\ife `em\ij`fe\j X gi\j` e gfi le cX[f p ^\e\iXe[f le d\iZX[f gXiXc\cf <e\i^ X Gclj # hl\ \e cX gi}Zk`ZX ^\e\i `em\ij`f$ e\j [\ cXi^f gcXqf j\ekX[Xj \e YX$ j\j `cljfi`Xj% C\p\e[f cfj YXcXeZ\j [\ \jkXj \dgi\jXj j\ gl\[\ m\i hl\ jkXj \jk}e \jg\iXe[f ZXdY`fj \e cXj efi$ dXk`mXj# p cf Z`\ikf \j hl\ cX j`klX$ Z` e \j kXe Zi k`ZX p cfj Zfdgifd`jfj \jZi`kfj [\ >fY`\ief ]l\ife j\ccX[fj \e cX gfZX \e hl\ E jkfi B`iZ_e\i \iX Gi\j`[\ek\# hl\ dlZ_fj \jg\$ iXe hl\ Xc^lefj ZXdY`fj [\Y`\iXe `i gif[lZ` e[fj\% MXclXe[f cfj Y`\e\j CcXdX cX Xk\eZ` e \e le e\^fZ`f [fe[\ j\ gfe\ dlZ_f [`e\if cX 9fc$ jX # \c [\jZfeZ`\ikf hl\ dl\jkiXe dlZ_fj `em\ijfi\j% Gfi \a\dgcf# lef m\ hl\ dlZ_X ^\ek\ lk`c`qX X cX :Xg`$ kXc`qXZ` e 9lij}k`c Zfdf leX d\[`[X [\c mXcfi [\ leX \dgi\jX% Fkifj# hl\ clZ\e d}j \og\ikfj# _XYcXe [\ cX i\$ cXZ` e \eki\ \c mXcfi ZfekXYc\ [\ leX XZZ` e p \c mXcfi [\ d\iZX[f% F d\e$ Z`feXe Xc mXcfi [\ cfj XZk`mfj% EX[X [\ \jf efj j`im\ _fp \e cX 8i^\ek`eX% CX :Xg`kXc`qXZ` e 9lij}k`c# hl\ \j \c mXcfi hl\ \c d\iZX[f c\ Xj`^eX Xc mXcfi [\c GXki`dfe`f E\kf# \j j cf leX gXik\ [\c ZXg`kXc hl\ j\ _X `em\i$ k`[f \e le [\k\id`eX[f e\^fZ`f% Cfj ZfekX[fi\j \e cX 8i^\ek`eX j\ _Xe gl\jkf [\ XZl\i[f gXiX hl\ cfj GX$ ki`dfe`fj E\kfj k\e^Xe mXcfi\j hl\ ef [`Z\e eX[X% CX fkiX gXik\ [\ cX `em\ij` e cX gf$ [i Xdfj ccXdXi \c :Xg`kXc [\ K\iZ\ifj

G8DG8 <E<I>@8 :kiXc K„id`ZX >•\d\j Gi`mXk`qXZ`�e 8[hl`j`Z`�e `e`Z`Xc 8[hl`i`[f X G\iXckX 8[hl`j`Z`�e GGG Gi\Z`f gifd\[`f [\ ZfdgiX 8dgc`XZ`�e KfkXc [\ cX Z\ekiXc Xdgc`X[X M\ekX [\ k\e\eZ`X [\ :<GL M\ekX k\e\eZ`X XZZ`feXi`X :kiXc K„id`ZX CfdX [\ cX CXkX @em\ij`�e fi`^`eXc (00+ 8[hl`j`Z`�e X :\ekiXc Gl\ikf 8dgc`XZ`�e KfkXc [\ cX Z\ekiXc Xdgc`X[X :kiXc K„id`ZX G`\[iXYl\eX 8[hl`j`Z`�e :kiXc K„id`ZX @e^\ek`j =lkliX `em\ij`�e Lj`eX 8cjkfd ?\Xmp ;lkp :fdgiX fi`^`eXc M\ekX JfcmXp @e[lgX $ 8cYXe\j` JfcXcYXe <e\i^ˆX @em\ij`�e fi`^`eXc 8dgc`XZ`�e =FE@EM<D<D K`dY’\j $ :XdgXeX <hl`gf el\mf j`e Zfjkf [\ j\klg G<KIF9I8J <E<I>@8 :kiXc K„id`ZX >\e\cYX @ @em\ij`�e \e (000 Lg^iX[\ \e )''0 KfkXc :kiXc K„id`ZX >\e\cYX Gclj El\mX `em\ij`�e Gifm% :�i[fYX :kiXc K„id`ZX G`cXi :�i[fYX DN FkiX `e]fidXZ`�e 8cYXe\j` :kiXc K„id`ZX G`cXi KlZld}e :\ekiXc el\mX :\ekiXc\j Zfk`qXek\j :\ekiXc Gl\ikf :Xg\o gfj\\ fkifj XZk`mfj <e[\jX :fjkXe\iX

DN

K`gf

)-(#' *,0#/ -)'#/ (.0-#' *-0#' (./#' ,+.#' -)'#' )'+#- (./#' DN (-,#' /)*#' --'#' /'#' .+'#' (-,#' *+'#' ()'#' (.0-#' -.)#' )*'*#-

K> ::$KM K> :: KM :: K> K`gf K> :: :: :: :8 :8 :8 :: p KM :: :: p KM

(''#'' ,/#/' (#)' )#-' -)#-' /#-- (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#'' (''#''

Bl j&DN

.-/#) (-0#' ))/#( -/-# (0(# -0/#+ **'#/

(,)#.

)0(#( (-*#' (%(,(#. +/+#,

(*.#(

0'+#)

)*)# (,0#' Bl j&DN

666 0'0#(

/)'#)

+,+#, (%'''#' ,(*#,

+/+#/

//)#+ (%,0,#/

/**#*

/*#' +.-#, (*-#*

::4:`Zcf :fdY`eX[f# KM4KliYfmXgfi# K>4KliYf^Xj# :84:`Zcf XY`\ikf

(.

D\iZX[fj

gi jkXdfj [\ YXeZfj# ÔeXeZ`\ifj# \kZ%2 [\jZfekX[fj cfj XZk`mfj df$ e\kXi`fj hl\ gfj\\ cX jfZ`\[X[ % CX jldX [\ XdYfj Xgfik\j [\ :Xg`kXc j\ ccXdX MXcfi <dgi\jXi`f# <ek\igi`j\ MXcl\ <M f E\k =`id MXcl\ E=M % Pf cf kfdf [\ cX YXj\ [\ <Zfefd}k`ZX hl\ d\ X_fiiX \c kiXYXaf [\ Z}cZlcf% :fe \c ^`if [\c e\^fZ`f# cX \dgi\jX [\Y\ gX^Xi cfj `ek\i\j\j p ZXeZ\cXi cXj [\l[Xj% J` cfj GXj`mfj jfe ^iX$ mfjfj# cX \dgi\jX gf[i X gi\j\ekXi gifYc\dXj p cfj XZi\\[fi\j gXjXe X k\e\i d}j gf[\i gXiX \jkXYc\Z\i Zi`$ k\i`fj [\ dXe\af [\ cX jfZ`\[X[# hl\ Xj\^liXe jl i\Zlg\iXZ` e [\ cfj Zi $ [`kfj# ef cX i\ekXY`c`[X[ [\c e\^fZ`f% 8c^f Zfdf c\ gXjX X cX 8i^\ek`eX p X fkifj gX j\j% <c <M \j le gXi}d\kif `dgfikXek\ X j\i Zfej`[\iX[f% Efj [X leX `[\X [\ mXcfi1 cf hl\ efj Zl\jkX ZfdgiXi leX XZZ` e p cf hl\ efj ZfjkXi} gX$ ^Xic\ X cfj k\iZ\ifj gfi jl Xgfik\ [\ ZXg`kXc [\ kiXYXaf% G\if gXiX ZfdgXiXi gXiX jXY\i j` \j\ dfekf \j dlZ_f f gfZf # \j e\Z\jXi`f k\e\i fkifj Y`\e\j hl\ efj gifm\Xe le mXcfi ZfdgXiXk`mf% Gfi \a\dgcf# \c mXcfi [\ cfj 8Zk`mfj% G\if jlZ\[\ hl\ d`j Zfc\^Xj# cfj ZfekX[f$ i\j# \e leX gfj`Z` e ÈZfej\imX[fiXÉ gi\Ô\i\e hl\ cfj XZk`mfj k\e^Xe \e c`Yifj [\ cX jfZ`\[X[ mXcfi\j i`[ Zl$ cXd\ek\ YXafj X hl\ k\e^Xe gi\Z`fj d}j XZfi[\j X cX i\Xc`[X[ \e i\cXZ` e X cX dfe\[X% Cfj 9XcXeZ\j e` j`hl`\$ iX `e[`ZXe cfj mXcfi\j [\ d\iZX[f [\ \jfj Y`\e\j gXiX hl\ lef cfj lj\ Zfdf i\]\i\eZ`X% MXpXdfj X le ZXjf ZfeZi\kf# \c [\ :\ekiXc Gl\ikf :<GL % <j leX \dgi\jX hl\ _X gXjX[f gfi dl$ Z_Xj dXefj% :_`c\efj# Xd\i`ZX$ efj# ]iXeZ\j\j p X_fiX Xi^\ek`efj% GXiX cfj hl\ Zi`k`ZXe X cf eXZ`feXc p XgcXl[\e X cf ]fi}e\f c\j [`i hl\ \e d` gfj`Z` e aXd}j cX \dgi\jX clZ` d\afi gXiX \c `em\ijfi Ylij}k`c Zfdf cf \jk} X_fiX% Cfj el\mfj ZfekifcXek\j `e`Z`Xife [\dXe[Xj X PG= gfi \c `eZldgc`$ d`\ekf [\ ZfekiXkfj [\ XYXjk\Z`$ d`\ekf [\ ^Xj# X >\e\iXc <c\Zki`Z gfi \c [\j\dg\ f [\ jl Z`Zcf ZfdY`eX$ [f p m\e[`\ife X GXdgX ?fc[`e^j cX

(/

È:\ekiXc Gl\ikf :<GL \j leX \dgi\jX hl\ _X gXjX[f gfi dlZ_Xj dXefj% :_`c\efj# Xd\i`ZXefj# ]iXeZ\j\j p X_fiX Xi^\ek`efj% GXiX cfj hl\ Zi`k`ZXe X cf eXZ`feXc p XgcXl[\e X cf ]fi}e\f c\j [`i hl\# \e d` gfj`Z` e# aXd}j cX \dgi\jX clZ` d\afi gXiX \c `em\ijfi Ylij}k`c Zfdf cf \jk} X_fiXÉ

:\ekiXc E\lhl e# X le gi\Z`f dlp YXaf [\ gfi Z`\ikf Zfdf `e[`ZXe cfj d`jdfj ZfdgiX[fi\j # g\if Zfe \j\ [`e\if ki`kliXife cX [\l[X% P cl\^f cfj XZZ`fe`jkXj i\Z`Y`dfj le [`m`[\e[f \e \]\Zk`mf# hl\ Xc [ X [\c XeleZ`f# j`^e`ÔZXYX le ), [\ cX Zfk`qXZ` e [\ cX XZZ` e% 8c j\i leX \dgi\jX j`e [\l[X# cX :9 \j \hl`mXc\ek\ Xc <M# ZfjX hl\ jlZ\[\ \e dlp gfZXj \dgi\jXj [\ el\jkif d\iZX[f% <jf c\ g\id`k` [`j$ ki`Yl`i [`m`[\e[fj Zfe gXik\ [\c dfe$ kf hl\ fYklmf Zfe \c Xii\^cf Zfe PG=% ;X[f hl\ \o`jk\e mXi`fj \a\dgcfj [\ \dgi\jXj hl\ _Xe i\Xc`qX[f `e$ m\ij`fe\j \e lj`eXj [\ ^\e\iXZ` e \c Zki`ZXj# lef gl\[\ ZfdgXiXi \c mXcfi Ylij}k`c [\ jlj XZk`mfj Zfe cXj `em\ij`fe\j f gi\Z`fj \e hl\ j\ i\X$ c`qXife Z`\ikXj fg\iXZ`fe\j \e cfj ck`dfj k`\dgfj% :\ekiXc Gl\ikf [`jgfe\ [\ le`[X$ [\j [\ K\idfMXgfi KM gfi ('(' DN p le Z`Zcf ZfdY`eX[f [\ ./- DN# le kfkXc `ejkXcX[f [\ (.0- DN# hl\ ljk\[ gf[ X \c (0 [\ ]\Yi\if _X$ Y\i ZfdgiX[f \e 9fcjX X iXq e [\ /* d`c [ cXi\j \c DN% M\Xdfj fkifj \a\dgcfj# GXdgX Æ\dgi\jX hl\ dlZ_fj i\ZfefZ\e Zfdf hl\ _XZ\ Yl\efj e\^fZ`fj \e \c }i\XÆ gX^ X :<GL X iXq e [\ (-*%''' [ cXi\j \c DN [\ :\ekiXc E\lhl e gleklXc`qXe[f hl\ cX _X$ Y X ZfdgiX[f X dlp Yl\e gi\Z`f#

ZcXif hl\ :<GL ef _`qf XZcXiXZ` e# g\if j\^liXd\ek\ [`i X hl\ [fj Zfe$ jlckfiXj \ok\ieXj Xj\^liXe cX m\ekX Xc d\efj X gi\Z`f [\ d\iZX[f p cl\$ ^f cX Zfem`ik` X le Z`Zcf ZfdY`eX[f Zfe leX `em\ij` e kfkXc [\ +/+%,'' [ cXi\j gfi DN% KXdY` e gX^ (0(%-'' [ cXi\j gfi DN gfi :\ekiXc > \d\j# hl\ cl\^f Xdgc` X le :`Zcf :fdY`eX[f :: Zfe le Zfjkf ÔeXc [\ **'%/'' [ cXi\j \c DN% J` ljk\[ ZfdgiXiX XZZ`fe\j [\ :<GL \ `^efiXiX \c mXcfi [\ jlj le`$ [X[\j KM# gf[i X ZfdgiXi \c :: ZXj` X d`kX[ [\ gi\Z`f [\ cf hl\ GXdgX gX^ gfi :\ekiXc > \d\j# Xdgc`X[f X :`Zcf :fdY`eX[f \c d}j YXiXkf [\ \jfj Z`Zcfj % J` \e m\q# ljk\[ Xj`^eXiX X cXj KMj [\ :<GL \c d`jdf mXcfi hl\ gX^ gfi DN GXdgX gfi :\ekiXc G`\$ [iXYl\eX kf[Xj le`[X[\j KM # ljk\[ \jkXi X cc\m}e[fj\ X gi\Z`f [\ i\^Xcf le :`Zcf :fdY`eX[f >< [\ ./- DN gfi kXe jfcf ('#- d`ccfe\j [\ [ cXi\j% CX ^\ek\ [\ GXdgX _XY X XZfi$ [X[f m\e[\i X cfj ZfekifcXek\j [\ :<GL \c /#-- [\c ZXg`kXc hl\ gf$ j\ X [\ jkX YXaf Z`\ikXj Zfe[`Z`fe\j# g\if ÔeXcd\ek\ Zfej`^l` le Zfd$ giX[fi hl\ gX^ X iXq e [\ (,)#. d`c [ cXi\j \c DN p# _fp hl\ cX \dgi\jX \jk} \e d\afi\j Zfe[`Z`fe\j# gfZfj `em\ijfi\j gX^Xe \e 9fcjX cfj /* d`c [ cXi\j \c DN X hl\ Zfk`qX% <c mXcfi [\ c`Yifj MC [\ cX GcXekX [\ :<GL Lj`eXj # hl\ \iXe [\ lefj -'' X -,' d`ccfe\j [\ [ cXi\j j\ m\e[` :\ekiXc E\lhl e # _fp \jk} mXclX[f \e c`Yifj X kXe jfcf ()0 d`$ ccfe\j [\ [ cXi\j \e le`[X[\j Zfe \o$ _Xljk`mfj dXek\e`d`\ekfj hl\ [\aXe X cfj \hl`gfj Zfdf el\mfj Xlehl\ Zfe cX k\Zefcf^ X fi`^`eXc % LeX ZcXiX dl\jkiX [\ cf i`[ Zlcf [\ el\jkifj Zi`k\i`fj ZfekXYc\j% :cXif hl\ cX \dgi\jX YXa \c mXcfi [\ c`Yifj [\ jlj lj`eXj \e YXj\ X Zi`k\i`f [\ i\Zlg\iXY`c`[X[ [\ cX `em\ij` e \e YXj\ X cXj Zfe[`Z`fe\j XZklXc\j [\c D\iZX[f <c Zki`Zf % :fdf cXj gfj`Yc\j ZfdgXiXZ`fe\j jfe dlZ_Xj# c\j [\af leX kXYcX hl\ Xid Zfe `e]fidXZ` e fYk\e`[X [\ 9XcXeZ\j p d\[`fj g\i`f[ jk`Zfj gXiX hl\ ljk\[ j\ \eki\k\e^X p jXhl\ jlj gifg`Xj ZfeZclj`fe\j%

@e[`ZX[fi\j

<mfclZ` e [\ 8ZZ`fe\j [\c GXe\c >\e\iXc GXe\c >\e\iXc D`i^fi 9fc[k >Xd`e^ :\clcfjX @IJ8 >ilgf :feZ% [\c F\jk\ :XiYfZcfi 9XeZf JXekXe[\i I`f 9fc[k JXe D`^l\c 8ckf GXc\idf AlXe D`e\kk` 9XeZf JXekXe[\i Dfi`o\ >XifmX^c`f :\ekiXc Gl\ikf <e[\jX :fjkXe\iX :Xglkf =`gcXjkf G\kifc\iX [\c :fefjli 8cgXi^XkXj :i\jl[ :Xicfj :XjX[f >ilgf :cXi e KiXejg% [\ >Xj Efik\ @dg% p <og% GXkX^fe`X G\ki c\f 9iXj`c\`if 8ZZ% Gi\]% @e[lgX Cfe^m`\ :Xg\o ;pZXjX I\gjfc PG= 8^ifd\kXc Dfc`efj I`f [\ cX GcXkX D\kif^Xj @ejk% Ifj\eYljZ_ C\[\jdX >i`dfc[` Dfc`efj AlXe J\d`ef KiXejg% [\ >Xj Jli >Xj EXkliXc 9Xe ;`jki% [\ >Xj :lpXeX K\c\] e`ZX 9Zf% >Xc`Z`X :fcfi`e Hl`Zb]ff[ JfZfk_\id 8d\i`ZXj I`^fcc\Xl Gfcc\[f :fd\iZ`Xc [\c GcXkX =\iild :\i}d`ZX JXe Cfi\eqf :Xdlqq` >Xj GXdg\XeX G\kiXb

8elXc

- d\j\j

*,(%+* )00%(- )*(%,/ ))(%/. ))'%*( )')%*/ (.+%-) (,+%)* (+0%(, (+'%(0 (*,%,0 (*(%(+ ().%). ()*%*( ((.%)+ ((+%)0 ('/%0( ('/%-) ('-%,0 ('*%,. (')%(, ('(%,0 0)%*( .0%)) ..%*+ ..%'- .*%)- .)%,' -,%.0 -*%., -(%0) -(%,' -'%'' ,,%-* ,,%,- ,)%/' ,'%'0 ,'%'' +0%-/ +0%'* +.%/' ++%++ +)%'- *0%-, *0%-* *0%+) )-%+) )'%.( (,%*/ ()%-0 $#$ $#$ $#$ $#$

-/%'0 (*+%,+ ()*%+' ,+%)/ (0)%/- ++%*) *(%.' ,0%-- 0(%() ..%0( +'%-+ $(*%+) ./%,. -'%,' +*%(. *)%,* )0%,, *,%+, $/%.+ ++%0) )+%+' ++%'( ),%'' (,%'' ,-%'- ,%). ()%'* (/%0. (%0+ ,%,/ $-%() ()%(0 ,'%'' *.%,* )'%*( (.%0' *%*0 *.%,' $)%0* ))%/- *)%(. ((%/, $+%0, ),%.0 *-%'' $0%-/ $+%*' $0%,) $(/%0) $+,%)* *+%., )%'+ (%., $('%,-

* d\j\j */%(( ,(%-. ,'%'' )-%00 (,-%), *'%0* (-%,( ()%0* *'%)/ $0%.+ (/%,. $)(%.( ),%'' ((%.. +)%0) )-%0) (/%., )-%'+ $.%/+ *%-+ ,%(0 ('%-' )0%), (,%'' )0%0+ $(*%-/ )%.- *%,' $*%0- -%') $()%++ ('%+) ++%0. (*%-- (+%0* +%*. $)%** ('%'' $.%)' *%/- /%,. +%(+ $(0%') $-%.- *,%+- )%(* $(.%,, $)%,- $((%)+ $*%-) ))%-* '%'' $#$ )%/-

) d\j\j *'%,/ *.%// (,%/( $)%(* ('0%(/ $*%.0 )%+) -%++ (,%-* $+%*, /%+/ $(0%/+ $)%-' $)%'' 0%+' -%/' (+%0) ('%.+ $0%-) )%.' $.%-+ ('%-' '%'' $)%/) ((%(( $(*%/' $/%/. $)%*- $'%-* $)%)) $()%., *%), (/%-/ 0%*) $('%0/ '%,* $,%+( 0%-* $*-%++ $'%+- +%/* $-%.0 $(.%,, $)%.- **%** *%.' $(-%'. '%'' $+%+- '%-0 )%)+ $+%.- $('%.. $(%*.

( d\j .%+/ (.%,. (%)0 *%*/ (',%'' '%.0 (*%*0 )%/0 *%*, $,%*/ ,%+( $()%-* $('%.( $(,%,) $+%(0 (%,+ )%,) ,%.. $(%', )%+' )%-* $*%.) $,%'' $)%/) )%)) )%.* $((%/* $.%(. $+%,, $+%*, $+%/( $(%/, $+%-+ '%./ $0%+( *%)+ $((%0, +%.$(+%'. $'%+'%'' $+%+* $-%+0 $(+%*) $0%** $(%(/ $(-%'. '%'' $*%)* $0%/, )%/0 $)%0( '%'' $)%.'

MXi`XZ`fe\j _`jk i`ZXj XaljkX[Xj gfi Zfik\j [\ Zlg e Xc )-&')&)'('% =l\ek\ EFJ@J CXY% [\ @em% p ;\j% J%8%

)'

D\iZX[fj

¶CX Zfii\ZZ` e kXe \jg\iX[X6 ?Xp hl\ gi`m`c\^`X cX c`hl`[\q p cX gi\ZXlZ` e# p \jg\iXi hl\ j\ gl\[X ZfeÔidXi \c Ôe [\ cX Zfii\ZZ` e gXiX kfdXi el\mXj gfjkliXj

GXYcf GXfclZZ`

<

e cfj ck`dfj [ Xj# _\dfj m`jkf leX ]l\ik\ ZX [X [\c d\iZX[f Xd\i`ZXef# gXik`$ ZlcXid\ek\ [`e}d`ZX \eki\ \c (0 [\ \e\if p \c , [\ ]\Yi\if# gXiX [Xi cl^Xi X le ]l\ik\ i\Yfk\ [\ Xc^f d}j [\c -(#/ [\ i\kifZ\$ jf [\ cX Zfii\ZZ` e \eki\ [`Z_Xj ]\Z_Xj% <c fYa\k`mf [\c -(#/ \j \c d}j gifYXYc\ \e k id`efj [\ Xe}c`j`j [\ =`YfeXZZ`% Cl\^f [\ leX ZX [X [\ \jk\ k`gf# cf `ek\i\$ jXek\ \j hl\ cX qfeX XcZXeqX[X Zf`eZ`[\ Zfe \c ,' [\ i\kifZ\jf [\c d`jdf Xe}c`j`j# g\if [\ kf[X cX ZX [X [\j[\ \c d}o`df XYjf$ clkf p _XjkX \c d e`df [\ dXiqf Zi\Xe[f leX i\j`jk\eZ`X dXpfi% G\if jli^\ cX gi\^lekX1 ¶\j \jkX cX Zfii\ZZ` e [\ kf[f \c dfm`d`\ekf XcZ`jkX [\j[\ dXiqf [\c X f gXjX[f6 Gfi X_fiX ef \j gfj`Yc\ _XZ\i kXc X]`idXZ` e# pX hl\ [X[X cX dX^e`kl[ \e gi\$ Z`f p k`\dgf [\ \jkX YXaX# gfi \c dfd\ekf j`dgc\d\ek\ ZXc`]`ZX Zfdf leX Zfii\ZZ` e d\efi% CX jlYX [\j[\ \c d e`df XYjf$ clkf [\ cX ZX [X \e dXiqf [\ )''0 _XjkX \c d}o`df [\ \jk\ X f# [lif lefj (( d\j\j gfi gifgfiZ`fe\j [\ k`\dgf p gi\Z`f% CX Zfii\ZZ` e XZklXc gXiX \jkXi i\cXZ`feX[X p gf[\i Zfej`[\iXij\ \dgXi\ekX$ [X Zfe [`Z_f dfm`d`\ekf [\Y\$ i X [liXi Xc d\efj [\ ki\j X Z`eZf d\j\j p XcZXeqXi# Zfdf d e`df# cX qfeX [\ 0,'' glekfj [\c ;fn

))

Afe\j% GXiX hl\ \jkf gl\[X jl$ Z\[\i# \j ZcXm\ \c e`m\c [\ jfgfik\ [\ ('%''' glekfj% J` \jk\ e`m\c jfgfikXiX cX gi\j` e [\ m\ekX p j\ [\]`e`\iX Zfdf le g`jf m`XYc\ gXiX leX el\mX jXc`[X# \jk\ df$ m`d`\ekf j`dgc\d\ek\ j\i X leX Zfii\ZZ` e ]l\ik\# g\if [\ d\efi ^iX[f \dgXi\ekX[X Zfe cX Zf$ ii\ZZ` e [\ ale`f p alc`f [\ )''0% <c gXg\c [\c jfgfik\ [\ ('%''' \j ZcXm\ gXiX \c ]lklif X Zfikf p d\[`Xef gcXqf [\c d\iZX[f Xd\$ i`ZXef p gXiX [\]`e`i \c ZXi}Zk\i [\c dfm`d`\ekf hl\ _\dfj m`jkf

È<c \oki\df g\j`d`jdf jfYi\ \c ]lklif [\c [ cXi X ÔeXc\j [\c X f gXjX[f \iX dl\jkiX ZcXiX [\ hl\ cX i\m\ij` e \jkXYX X glekf [\ XZfek\Z\i# p ÔeXcd\ek\ jlZ\[` É

\ `e]cl`i X \c ZfdgfikXd`\ekf [\ cfj d\iZX[fj `ek\ieXZ`feXc\j% <e k id`efj [\ Xe}c`j`j [\c [ $ cXi \e \c dle[f# hl\ \j leX gXik\ ZcXm\ \e \c Xe}c`j`j ]`eXeZ`\if `e$ k\ieXZ`feXc# \c fYm`f dfm`d`\ekf Xc XcqX [\c e[`Z\ [\c [ cXi XcZXeqf \e ]\Yi\if jl fYa\k`mf [\ d}o`dX gifYXY`c`[X[ ZlXe[f \c <lif Xc$ ZXeq cX qfeX [\ (#*,% <c \oki\df g\j`d`jdf jfYi\ \c ]lklif [\c [ cXi X ]`eXc\j [\c X f gXjX[f \iX dl\jkiX ZcXiX [\ hl\ cX i\m\ij` e \jkXYX X glekf [\ XZfek\Z\i p ]`eXcd\ek\ jlZ\[` # [Xe[f cl^Xi X hl\ X_fiX cfj d`j$

dfj hl\ d\eZ`feXYXe \c fZXjf [\c [ cXi glYc`hl\e Xik Zlcfj \ogc`ZXe[f _XjkX [ e[\ gf[i X cc\^Xi cX [`m`jX Xd\i`ZXeX% Gfi X_fiX# \c fYa\k`mf d}j gifYXYc\ ]l\ XcZXeqX[f p# j` Y`\e _Xp le /) [\ gifYXY`c`[X[ [\ el\mf d}o`df Xc )- [\ ]\Yi\if # _Xp hl\ k\e\i gi\ZXlZ` e p \jg\iXi X m\i j` cf^iX i\efmXi \c `dglcjf gXiX Zfek`elXi cX k\e[\eZ`X f j` gfi X_fiX XcZXeq le el\mf gle$ kf [\ \hl`c`Yi`f% CX [\]`e`Z` e [\ Zfek`elXZ` e f i\m\ij` e \j ZcXm\ gXiX \c ZfdgfikXd`\ekf [\ cfj d\iZX[fj [\ Zfddf[`k`\j# hl\ j\ \eZl\ekiXe dlp ZXifj k\e`\e$ [f \e Zl\ekX cfj ]le[Xd\ekfj [\ cX \Zfefd X dle[`Xc \e ^\e\iXc p [\c gi`d\i dle[f \e gXik`ZlcXi% GXiX \c d\iZX[f Xi^\ek`ef# \c ZfdgfikXd`\ekf hl\ \jg\i}YX$ dfj Zfe le el\mf d}o`df j\ _X Zldgc`[f p cX ]l\ik\ YXaX [\ K\$ eXi`j# [\ ]`e [\ ]\Yi\if# gljf \e Zfdgifd`jf cX k\e[\eZ`X XcZ`jkX% G\if \j gXiX i\jXckXi hl\ ef gljf ]`e X cX d`jdX# j`ef hl\ j`dgc\$ d\ek\ \jk} [Xe[f cl^Xi X leX e\$ Z\jXi`X Zfii\ZZ` e [\ lef [\ cfj d\afi\j X fj gXiX \c d\iZX[f% <jkX ck`dX X]`idXZ` e k`\e\ hl\ j\i gl\jkX \e g\ijg\Zk`mX# pX hl\ \e dlZ_fj d\[`fj j\ _`qf \j\ Zfd\ekXi`f `^efiXe[f [\kXccXi hl\ j cf ]l\ \c d\afi X f gXiX cX ^\ek\ hl\ Zfdgi \e cfj d e`dfj# d`\ekiXj hl\ fkifj# f \jk}e e\lkifj f g\i[`\e[f [`e\if [\Y`[f Xc [\iiXg\ YilkXc [\ )''/% Ef dlZ_fj gl[`\ife Xgifm\Z_Xi cX qfeX [\ d e`dfj gfi k\dfi# p j cf cfj hl\ j\ al^Xife i\Xcd\ek\ m`\ife \j\ X f \oZ\c\ek\ gXiX \c d\iZX[f% CX gif]le[`[X[ p ZX$

i}Zk\i [\ cX Zfii\ZZ` e j\i} j\j$ ^X[f gfi \c ZfdgfikXd`\ekf [\ K\eXi`j% J` cX qfeX [\ d e`dfj XcZXe$ qX[fj X ]`eXc [\ ]\Yi\if \j i\j$ g\kX[X# j\i} kXe j cf [\ ZXi}Zk\i d\efi p i\kfdXi X \c j\e[\if XcZ`jkX% J` \c `dglcjf YXa`jkX j\ Zfe]`idX p j\ i\Zil[\Z\ \c e[`Z\ D\imXc# k\e[i X le fYa\k`mf d e`$ df \e \c jfgfik\ [\ )'''# [fe[\ j\i X gl\jkf X gil\YX% :fdf d\eZ`fe}YXdfj \e \c

ÈCX [\Ôe`Z` e [\ Zfek`elXZ` e f i\m\ij` e \j ZcXm\ gXiX \c ZfdgfikXd`\ekf [\ cfj d\iZX[fj [\ Zfddf[`k`\j# hl\ j\ \eZl\ekiXe dlp ZXifj k\e`\e[f \e Zl\ekX cfj ]le[Xd\ekfj [\ cX \Zfefd X dle[`Xc \e ^\e\iXc p [\c gi`d\i dle[f \e gXik`ZlcXiÉ

e d\if Xek\i`fi# _Xp hl\ gi`m`c\$ ^`Xi cX c`hl`[\q p cX gi\ZXlZ` e p \jg\iXi hl\ gf[Xdfj Zfe]`idXi \c ]`e [\ cX Zfii\ZZ` e gXiX kfdXi el\mXj gfjkliXj% ¶<c d\afi \jZ\eXi`f gfj`Yc\61 hl\ cX d`jdX j\ gif]le[`Z\ \e \c d\iZX[f Xd\i`ZXef# pX hl\ leX Zfii\ZZ` e d}j gif]le[X _XY`c`kXi X le ZfdgfikXd`\ekf [\ d\iZX[f dlp XcZ`jkX p# j`e [l$ [Xj# cl\^f# j`d`cXi Xc hl\ m`dfj [liXek\ )''0%

)*

@e[`ZX[fi\j

<mfclZ`�e [\ cXj 8ZZ`fe\j Cˆ[\i\j GXe\c >\e\iXc

8elXc

- d\j\j

* d\j\j

) d\j\j

( d\j

9XeZf =iXeZ„j

)(-%+*

*'%.'

'%,(

'%)-

$0%+-

9XeZf GXkX^fe`X

)'(%(+

//%'+

)/%-.

+%'+

$)%..

>ilgf =`e% >Xc`Z`X

(.0%+(

),%/*

$,%+.

$.%..

$-%/-

9XeZf DXZif

(..%).

*)%,*

$,%,*

$.%)+

$+%-,

(--%''

(,%-,

(%,*

K\eXi`j

(-)%-,

+*%('

/%0(

(%-(

$*%00

J`[\iXi

(,(%*,

,-%,.

))%*.

+%.*

$)%.)

K\c\Zfd 8i^%

(**%'0

()%**

*%--

*%)+

$(%(-

8clXi

('0%0-

))%*,

9XeZf ?`gfk\ZXi`f

KiXej\e\i <[\efi

(')%'' 0/%,)

()%//

$-%*+

$-%+)

$-%*+

$,%+(

)'%-.

*%'-

$.%*+

$-%+/

)(%/)

*%'/

$.%,0

$,%-*

G\kiÂ?c\f 9iXj`c\`if

--%+(

'%0)

$()%).

GXdgX <e\i^ˆX

,0%)*

(0%+)

G\kifYiXj <e\i^ˆX

-%/(

$*%//

$0%',

)%,*

+%+0

$*%+0

$+%-'

+%,+

-%++

'%-)

MXi`XZ`fe\j _`jkÂ?i`ZXj XaljkX[Xj gfi Zfik\j [\ ZlgÂ?e Xc )-&')&)'('% =l\ek\ EFJ@J CXY% [\ @em% p ;\j% J%8%

<mfclZ`�e [\ cfj Gi`eZ`gXc\j @e[`Z\j [\c Dle[f Cˆ[\i\j

8elXc

- d\j\j

* d\j\j

) d\j\j

( d\j *%(*

9fm\jgX 9iXj`c LJ;

()-%'0

(/%.)

$*%('

$,%,*

D%8I 8i^\ek`eX

()(%+(

))%')

+%0-

$)%'*

$+%))

D\imXc ), 8i^\ek`eX

()'%/(

),%')

*%..

$)%)*

$*%.,

D\imXc 8i^\ek`eX

((/%)+

)+%0)

)%00

$)%-/

$*%/(

D\imXc 8i^\ek`eX LJ;

(''%/)

)+%).

(%(*

$+%++

$,%(.

9fcjX [\ D\o`Zf

.,%)0

()%(*

*%0'

$)%00

*%)(

EXj[Xh :fdgfj`k\

-'%/-

('%,-

+%-.

$)%*(

(%,.

? J\e^ ?fe^ Bfe^

,0%/)

(%)-

$.%)(

$+%''

)%'*

J G ,'' LJ8

+-%.(

.%+*

(%-0

$)%'.

(%(*

;fn Afe\j LJ8

+*%.-

/%(0

'%(,

$)%('

(%)/

;8O 8c\dXe`X

+)%''

(%*0

$'%)/

$-%.+

$(%)+

Qli`Z_ Jl`qX

+'%-.

/%-,

J`[e\p 8ljkiXc`X

+'%,'

+%(+

'%0(

$+%)/

-%/(

(%/)

*%,' $'%*'

=KJ< @e^cXk\iiX

*-%.,

0%+0

*%'0

$(%,*

:8:+' =iXeZ`X

*,%()

(%('

'%/'

$-%'+

$)%,/

*+%0'

$*%)0

('%(,

$+%.)

$)%))

E`bb\` AXgÂ?e

(%+.

MXi`XZ`fe\j _`jkÂ?i`ZXj Xc )-&')&)'('% =l\ek\ EFJ@J CXY% [\ @em% p ;\j% J%8%

)+

D\iZX[fj

CX jfaX p \c dX q Zfe g\ijg\Zk`mXj XcZ`jkXj CXj \og\ZkXk`mXj gXiX \jkfj Zfddf[`k`\j jfe fgk`d`jkXj% J`e \dYXi^f# cf d}j Zfem\e`\ek\ gXiX \c gif[lZkfi j\i} ef Z\iiXi gi\Z`fj \e \jkXj `ejkXeZ`Xj [\ d\iZX[f# d}j Xcc} [\ cX m\cfZ`[X[ Zfe hl\ gl\[X ^\e\iXij\ cX i\Zlg\iXZ` e \jg\iX[X

IlY\e Lcc X ;`i\Zkfi IlXik\¡j I\gfikj nnn%ilXik\i\gfikj%Zfd

<

c )'(' efj \eki\^X# _XjkX \c dfd\ekf# jXc[fj e\^Xk`mfj gXiX cX jfaX p \c dX q% J` Y`\e \e XdYfj ZXjfj cfj gi\Z`fj j\ jfjk`\e\e gfi \eZ`dX [\ cfj d e`dfj i\^`jkiX$ [fj \e )''0 p# fYm`Xd\ek\ kXdY` e [\ cfj [\c X f )''/# Xc m`jlXc`qXi cXj [`]\i\ek\j ^i}]`ZXj efj \eZfekiXdfj Zfe ZfdgfikXd`\ekfj p \jkilZkliXj k Ze`ZXj YXjkXek\ Zfdgc\aXj hl\ [\ Xc^ e df[f Zi\Xe Z`\ikX Zfe]lj` e Xc dfd\ekf [\ ]Xmfi\Z\i leX k\e[\eZ`X gXiX \jkfj d\iZX[fj% El\jkiXj \og\ZkXk`mXj gXiX \jkfj Zfddf[`k`\j _XZ`X \c gi\j\ek\ X f jfe d}j Y`\e fgk`d`jkXj# Xc d\efj Zfej`[\iXdfj hl\ kXekf cX jfaX Zfdf \c dX q [\Y\i Xe [liXek\ \c kiXe$ jZlijf [\c gi\j\ek\ X f \ok\e[\i \c dfm`d`\ekf [\ i\Zlg\iXZ` e `e`Z`X[f \e \c g`jf [\ )''/# kiXj dXk\i`Xc`qXij\ Xhl\ccX ]l\ik\ ZX [X# hl\ \e j\`j d\$ j\j dfjki g i[`[Xj Z\iZXeXj Xc -' \e XdYfj Zfddf[`k`\j% J\^liXd\ek\ \c c\Zkfi p j\^l`[fi [\ \jkfj d\iZX[fj j\ gi\^lekXi} j` [`Z_X i\Zlg\iXZ` e j\ cf^iXi} Xek\j [\ cX Zfj\Z_X cfZXc# gXiX gcXe`]`ZXi Zfe cX m\ekX [\ cX d`jdX# f j` Y`\e i\jlc$ kXi} Zfem\e`\ek\ `ek\ekXi dXek\e\i cX d\iZX[\i X# Xc d\efj _XjkX \c j\$ ^le[f j\d\jki\ [\c gi\j\ek\ X f# X cX

)-

\jg\iX [\ d\afi\j gi\Z`fj% J` Y`\e i\$ jgfe[\i X \jkX gi\^lekX i\jlckX d}j Zfdgc`ZX[f# efj Xe`dXdfj Xc d\efj X Zfej`[\iXi hl\ cfj mXcfi\j XZklXc\j jfe [\ g`jf p gfi cf kXekf d}j Xcc} [\ cX m\cfZ`[X[ Zfe hl\ gl\[X ^\e\iXij\ cX i\Zlg\iXZ` e \jg\iX[X# \ek\e$ [\dfj hl\ cf d}j Zfem\e`\ek\ gXiX \c gif[lZkfi j\i} ef Z\iiXi gi\Z`fj \e \jkXj `ejkXeZ`Xj [\ d\iZX[f% <e \jk\ j\ek`[f# gXjXi\dfj X [\$ jXiifccXi cfj Xe}c`j`j [\ cX jfaX p \c dX q p# X gXik`i [\ \ccfj# `[\ek`]`ZXi cfj [`]\i\ek\j gXi}d\kifj k Ze`Zfj hl\ [\Y\i\dfj k\e\i gi\j\ek\# pX j\X gXiX Zfe]`idXi cX i\Xel[XZ` e XcZ`jkX \e cfj gi\Z`fj f Y`\e gXiX gfe\i leX j\ Xc [\ Xc\ikX X el\jkiXj g\ijg\Z$ k`mXj fgk`d`jkXj XZklXc\j gXiX \jkfj d\iZX[fj% 8e}c`j`j [\ cX jfaX :lXe[f Z\ekiXdfj cX Xk\eZ` e \e \c ZfdgfikXd`\ekf [\ \jk\ Zfddf[$ `kp# \e cfj ck`dfj d\j\j fYj\imXdfj Zfdf cfj gi\Z`fj ef _Xe k\e`[f cX Zfej`jk\eZ`X jl]`Z`\ek\ Zfdf gXiX ZfcfZXij\ el\mXd\ek\ gfi \eZ`dX [\ cX qfeX [\ ('.'$(('' Z\ekXmfj# hl\ `e[l[XYc\d\ek\ _X j`[f cX qfeX [\ i\j`jk\eZ`X gfi \oZ\c\eZ`X kiXj cX Zf$ j\Z_X [\c d\iZX[f \jkX[fle`[\ej\% ?X j`[f [\j[\ \jXj `ejkXeZ`Xj \ekfe$ Z\j hl\ j\ _XY`c`k \c gifZ\jf [\ YXaX XZklXc# hl\ ZfcfZ cX fc\X^`efjX \e cX qfeX [\ `dgfikXek\ jfgfik\ [\ 0''$ //' Z\ekXmf&Yl# cX ZlXc _XjkX \c df$ d\ekf _X jXY`[f Zfek\e\i cX ZX [X% K Ze`ZXd\ek\ \ek\e[\dfj hl\ cfj gi\Z`fj gf[i Xe \jkXi `ed\ijfj [\e$

È8c `^lXc hl\ fZlii\ gXiX Zfe cX jfaX# efj \eZfekiXdfj Zfe hl\ \e \c Z\i\Xc cX \jg\ZlcXZ` e j\ _X c`dg`X[f YXjkXek\ p# gfi kXc dfk`mf# gf[\dfj gi\jld`i hl\ \c d\iZX[f pX XcZXeq e`m\c\j [\ g`jf [\j[\ [fe[\ cX k\e[\eZ`X XcZ`jkX gf[i X hl\[Xi el\mXd\ek\ i\kfdX[XÉ

kif [\ le gifZ\jf [\ Zfejfc`[XZ` e# [\j[\ cX i\Zlg\iXZ` e [\ cfj d e`dfj [\c )''/# [fe[\ cX qfeX [\ Zfek\e$ Z` e XcZ`jkX j\ lY`ZX aljkXd\ek\ \e cfj ('.'$(('' Z\ekXmfj p cX qfeX [\ Zfe$ k\eZ` e YXa`jkX f jfgfik\ j\ ZfeZ\ekiX \e cfj e`m\c\j i\Z`\ek\d\ek\ XcZXeqX$ [fj [\ 0''$//' Z\ekXmfj% ;X[f hl\ \e cfj XZklXc\j e`m\c\j \eZfekiXdfj le d\iZX[f hl\ _X c`d$ g`X[f [\ Xc^ e df[f X cfj ^iXe[\j \j$ g\ZlcX[fi\j p jfe cfj Zfd\iZ`Xc\j cfj hl\ _Xe jXc`[f X kfdXi cXj gfj`Z`fe\j# \ek\e[\dfj hl\ _Xp XckXj Z_XeZ\j [\ Zfej`[\iXi hl\ \e \jkfj mXcfi\j le g`jf gl\[X j\i Zfej\^l`[f p [\j[\ \jkXj `ejkXeZ`Xj cfj gi\Z`fj Zfd`\e$ Z\e X i\Zlg\iXi gfj`Z`fe\j Zfe cX `ek\eZ` e [\ i\^i\jXi gfi \eZ`dX [\ cfj (''' Z\ekXmfj \e \c Zfikf gcXqf \ `ek\ekXe[f [\ \jk\ df[f YljZXi cX qfeX [\ Zfek\eZ` e XcZ`jkX# Xii`YX gifgl\jkX \e kfief X cfj ('.'$(('' Z\ekXmfj&Yl% D}j kXi[\ le hl`\Yi\ XcZ`jkX [\ \jX

qfeX j\i} \c [\kfeXek\ hl\ efj g\id`$ kX ZfiifYfiXi el\jkiXj \og\ZkXk`mXj p c`Y\iXi le ZXd`ef XcZ`jkX gXiX cX fc\X^$ `efjX _XZ`X e`m\c\j d}j XdY`Z`fjfj% JfcXd\ek\ \e ZXjf [\ ZX [Xj [\c Zfddf[`kp# [\YXaf [\ cfj 0''$//' Z\ekXmfj# j\ \jkXi} Zfdgifd\k`\e[f el\jkiX m`j` e fgk`d`jkX gXiX cX jfaX p \ekfeZ\j j` [\Y\i\dfj Zfek\dgcXi cX gfj`Y`c`[X[ [\ le i\^i\jf [\ cfj

gi\Z`fj _XZ`X cfj d e`dfj [\ )''/# \e kfief X cfj /''$./' Z\ekXmfj Xc d\efj% 8e}c`j`j [\c dX q FYj\imXdfj \e \c ZXjf [\ \jk\ Z\$ i\Xc hl\ kiXj cX i\Zlg\iXZ` e cf^iX[f _XZ`X ]`eXc\j [\c gXjX[f X f )''0# [\j[\ d e`dfj [\ *'' Z\ekXmfj X e`m\c\j [\ +), Z\ekXmfj# _X j`[f [\j[\

).

D\iZX[fj

\ekfeZ\j hl\ \c gi\Z`f [\c Z\i\Xc m`\e\ i\ZfikXe[f ^XeXeZ`Xj gXiX XcZXeqXi cX XZklXc }i\X [\ *,' Z\ekXmfj&Yl% I\jlckX ]Xmfi\Z`[f gfi \c XeXc`jkX Zfej`[\iXi hl\ \jk\ i\Zfik\ [\c Z\$ i\Xc \j [\ ZXi}Zk\i kiXej`kfi`f# hl\ \c d`jdf [\Y\i X hl\[Xi Zfek\e`[f gfi cX qfeX [\ d e`df XcZXeqX[X [\ *,'$ **, Z\ekXmfj# gXiX ÔeXcd\ek\ [\j[\ \jkXj `ejkXeZ`Xj \c XcqX [\c Z\i\Xc hl\[\ i\kfdX[X Zfe cX `ek\eZ` e [\ i\^i\jXi _XZ`X cfj d}o`dfj [\ +), Z\ekXmfj \ `eZcljf YljZXe[f XZZ\[\i _XZ`X e`m\$ c\j d}j Xckfj# j`\dgi\ Zfdf gifZ\jf [\ i\Zlg\iXZ` e dXpfi [\c dfm`d`\ekf `e`Z`X[ \e \c g`jf [\c )''/% 8c `^lXc hl\ fZlii\ gXiX cX jfaX# efj \eZfekiXdfj hl\ \e \c Z\i\Xc cX \j$ g\ZlcXZ` e j\ _X c`dg`X[f YXjkXek\ p# gfi kXc dfk`mf# gf[\dfj gi\jld`i hl\ \c d\iZX[f pX XcZXeq e`m\c\j [\ g`jf [\j[\ [fe[\ cX k\e[\eZ`X XcZ`jkX gf[i X hl\[Xi el\mXd\ek\ i\kfdX[X% 8ZklXcd\ek\# j cf \e ZXjf hl\ \c i\Zfik\ [\ cXj ck`dXj j\dXeXj j\

)/

XZ\ek \ [\YXaf [\ cX qfeX [\ **, Z\e$ kXmfj# j\ \jkXi}e Zfdgifd\k`\e[f el\jkiXj \og\ZkXk`mXj fgk`d`jkXj gXiX \c Zfddf[`kp p# \e kXc ZXjf# \jkXi\dfj \og\ZkXek\j [\ le i\^i\jf [\ cfj gi\$ Z`fj _XZ`X cX qfeX [\ d e`df [\ )''0 p )''/# \e kfief X cfj *''$)0' Z\ekXmfj# }i\X hl\ \jkX m\q `eZcljf gf[i X k\id`$ eXi j`\e[f hl\YiX[X% M\Xdfj¿

=`eXeqXj ZfigfiXk`mXj

Fg\iXZ`fe\j# g`[\% CX >\i\eZ`X =`eXeZ`\iX cf _XZ\ gfj`Yc\¿f ef <c gi`d\i ZXjf gXiX \jkX j\ZZ`�e `eXl^liX[X \e cX ’ck`dX \[`Z`�e [\ 8cqXj 9XaXj \j \c [\ 8clXi p Z�df X]ifek� jl gcXe [\ \ogXej`�e [\j[\ (00, \e X[\cXek\1 cX [\l[X ÔeXeZ`\iX# \c `e^i\jf Xc D\iZX[f [\ :Xg`kXc\j p cX i\\jkilZkliXZ`�e [\ jl j`klXZ`�e gXki`dfe`Xc

AXZb`\ DXlYi„ I\jgfejXYc\ [\c >ilgf :f_\e

J

`kl„dfefj \e le dle[f [\ Zi\Z`d`\ekf \okiXfi[`eXi`f% Fkif dle[f% <jX \iX cX j`$ klXZ`Â?e \e (00,# ZlXe[f cfj [`i\Z$ k`mfj [\ 8clXi kfdXife cX [\Z`j`Â?e [\ \dYXiZXij\ \e cX Xdgc`XZ`Â?e [\ cX ZXgXZ`[X[ [\ gif[lZZ`Â?e [\ cX \dgi\jX# `dglcjX[fj gfi leX [\$ dXe[X Zi\Z`\ek\ \ `ejXk`j]\Z_X% ;`Z_f gcXe [\ Xdgc`XZ`Â?e cc\mX$ iˆX , XÂŒfj [\ \a\ZlZ`Â?e p leX `em\i$ j`Â?e \jk`dX[X [\ LJ;/,' d`ccf$ e\j# X [\jXiifccXij\ \e [fj \kXgXj% <c fYa\k`mf Ă”eXc1 cc\mXi cX ZXgXZ`[X[ [\ gif[lZZ`Â?e `ejkXcX[X kfkXc X ,(,%''' kfe\cX[Xj&XÂŒf%

*'

<e cX gi`d\iX \kXgX# _XYiˆX hl\ \ogXe[`i cX ZXgXZ`[X[ [\ ^\$ e\iXZ`Â?e [\ \e\i^ˆX \c„Zki`ZX \e +-,DN# `ejkXcXe[f leX el\mX kli$ Y`eX [\ Z`Zcf ZfdY`eX[f# pX hl\ cX \c\Zki`Z`[X[ \j m`kXc \e \c gifZ\jf [\ \cXYfiXZ`Â?e [\c Xcld`e`f# X[\$ d}j [\ `eXl^liXi el\mXj jXcXj [\ \c\ZkiÂ?c`j`j# Zfejkil`i le el\$ mf _fief [\ ZfZZ`Â?e [\ }ef[fj# Xdgc`Xi cX gcXekX [\ mXi`ccX[f [\ }ef[fj \ `ejkXcXi leX el\mX \jkX$ Z`Â?e [\ ]le[`Z`Â?e% CX `em\ij`Â?e i\$ hl\i`[X gXiX Zldgc`i Zfe \jk\ Ă”e j\iˆX [\ LJ;*,' D% J`dgc\d\ek\ gXiX k\e\i leX `[\X [\ cX dX^e`kl[ `emfclZiX[X \e \jkX gi`d\iX \kXgX [\c gif$ p\Zkf# YXjkX Zfe d\eZ`feXi hl\ leX m\q ZfeZcl`[f \c d`jdf# j\ _XYiˆXe Zfejld`[f .)%,'' d* [\ _fid`^Â?e# )-%.'' kfe\cX[Xj [\ Z\d\ekf# -%.'' kfe\cX[Xj [\ \j$ kilZkliX d\k}c`ZX# /.' b`cÂ?d\kifj [\ ZXYc\ p j\ _XYiˆX i\Xc`qX[f le dfm`d`\ekf [\ jl\cf [\ (%0-'%.,' d*% <e gifd\[`f# _XYiˆXe kiXYXaX$ [f \e cXj kXi\Xj [\ ZfejkilZZ`Â?e p dfekXa\ (%,'' g\ijfeXj g\if \e \c dfd\ekf g`Zf [\ cX fYiX \jX Z`]iX _XYiˆX cc\^X[f X -%''' g\ijfeXj% <c fYa\k`mf j\ cf^iÂ? p Ă”eXcd\ek\# \e )''/# cX gi`d\iX ]l\ ZfeZcl`$ [X% FgfikleXd\ek\# \c ;`i\Zkfi`f XgifYÂ? cX gifgl\jkX [\ fYk\eZ`Â?e [\ Ă”eXeZ`Xd`\ekf X kiXm„j [\ Zi„$ [`kfj fkfi^X[fj gfi [`jk`ekXj X^\e$ Z`Xj Zfe ^XiXekˆX i\Xc Zfdgifd\$ k`[X gfi gXik\ [\ cX \dgi\jX% ;\ \jkX dXe\iX# 8clXi m`f Xl$ d\ekXi jl [\l[X Ă”eXeZ`\iX \e i\cXZ`Â?e X jl gXki`dfe`f e\kf [\ (( Xc *'&'-&', Xc /+ Xc Z`\$ ii\ [\ jl \a\iZ`Z`f Ă”jZXc )''/# \j [\Z`i Xc *' [\ ale`f [\ \j\ XÂŒf%

KiXejZlii`[fj cfj gi`d\ifj d\j\j [\ )''/# \c gXefiXdX dle[`Xc j\ Zfdgc`ZXYX% CX Zi`j`j jlY$gi`d\ j\ dXe`]\jkXYX XY`\ikXd\ek\% :fdf Zfej\Zl\eZ`X [\ cX d`jdX p [\ jl `dgXZkf \e cfj gi`eZ`gXc\j YXeZfj [\c dle[f# j\ fYj\imXYX leX Zi\$ Z`\ek\ [`Ă”ZlckX[ gXiX [`jgfe\i [\ Ă”eXeZ`XZ`Â?e% G\if 8clXi k\eˆX cX [\k\id`$ eXZ`Â?e [\ Zfek`elXi Zfe jl gcXe [\ \ogXej`Â?e% CX j\^le[X \kXgX Zfdgi\e[\iˆX [fj ]Xj\j% <e cX gi`$ d\iX# j\ `ejkXcXiˆXe .) el\mXj Zl$ YXj \c\Zkifcˆk`ZXj p \e cX j\^le[X p Ă”eXc# cXj 0- i\jkXek\j# Zfe \c Ă”e [\ Zfdgc\kXi [\ \j\ df[f cX gl\jkX \e dXiZ_X [\ cXj (-/ ZlYXj i\hl\$ i`[Xj% GXiX \ccf# cX ;`i\ZZ`Â?e =`eXe$ Z`\iX [\YˆX Zfej\^l`i LJ;,'' D% 8clXi Zfek`elÂ? `eZi\d\ekXe$ [f jl \e[\l[Xd`\ekf [liXek\ \c \a\iZ`Z`f )''/$)''0% CX \jZXj\q [\ Ă”eXeZ`Xd`\ekf ^\e\iXc i\`eXe$ k\ _`qf hl\ cX [\l[X Ă”eXeZ`\iX [\ Zfikf gcXqf j\ [`jgXiXiX le +' p ki\gXiX X (%(-' D Xc *'&'-&'0% <c XÂŒf Ă”jZXc ZfeZcl`iˆX X[`Z`feXc$ d\ek\ Zfe leX g„i[`[X [\ (*-D [\Y`[f Xc [\k\i`fif [\ cX [\dXe[X p [\ cfj gi\Z`fj `ek\ieXZ`feXc\j [\c Xcld`e`f% 8ek\ \jkX Zfdgc\aX j`klXZ`Â?e# cX \dgi\jX Zfdgi\e[`Â? hl\ XZl[`i Xc D\iZX[f [\ :Xg`kXc\j \iX leX Xck\ieXk`mX m`XYc\ gXiX gf[\i Zld$ gc`i Zfe \c GcXe [\ <ogXej`Â?e p X jl m\q# i\Zfdgfe\i jl j`klXZ`Â?e Ă”$ eXeZ`\iX% ;\j[\ cl\^f# j\ ZldgcˆX \c gi\Z\[\ek\ ]le[Xd\ekXc gXiX hl\ Xjˆ ]l\j\1 8clXi j\ _X ZXiXZ$ k\i`qX[f X cf cXi^f [\ cfj XÂŒfj gfi dXek\e\i leX `dg\ZXYc\ kiXp\Z$ kfi`X p leX \oZ\c\ek\ i\cXZ`Â?e Zfe jlj `em\ijfi\j d`efi`kXi`fj%

*'&'-&'0

*'&'-&'/

*'&'-&'.

*'&'-&'-

8Zk`mf KfkXc [\c XZk`mf Zfii`\ek\ KfkXc [\c XZk`mf ef Zfii`\ek\ KfkXc [\c XZk`mf

)%)0+%,-.%/'- ,%'++%.+)%+', .%**0%*('%)((

)%('0%0+/%')0 +%,,+%,0-%+0- -%--+%,++%,),

(%.'(%,('%'0- *%.-.%'0-%-(0 ,%+-/%-'-%.(,

(%+(,%0.)%/,) )%**'%0*(%/+. *%.+-%0'+%-00

GXj`mf GXj`mf Zfii`\ek\ Gi„jkXdfj GXj`mf ef Zfii`\ek\ Gi„jkXdfj KfkXc [\c GXj`mf GXik%k\iZ% jfZ`\[% ZfekifcX[Xj GXki`dfe`f E\kf KfkXc GXj`mf p GXki`d%E\kf

(%/()%*'.%('* (%(,0%0.,%))) )%*+)%0,,%+0/ )%(*,%*.(%+*- +%(,,%)-)%-'( )+/%,0,%..' )%0*,%+,(%/+' .%**0%*('%)((

(%)+)%,//%.0, .00%/'.%/'0 )%'/0%,0+%*,, (%/'/%()-%0*( *%**)%(/*%(,' )*%+.0%++* *%'0.%,.'%0*) -%--+%,++%,),

0.'%(*+%+)) ,.-%/.'%.)' (%-.+%-*/%*0+ (%,-(%-(,%+,+ )%-++%.))%/(- )+,%'..%.++ )%,./%.,-%(,, ,%+-/%-'-%.(,

0+'%,*-%+)' -)+%-*+%'** *),%-''%0*. *(+%+-(%.), (%)--%(*.%*,. )*.%+/-%-.( )%)+*%)/'%-.( *%.+-%0'+%-00

IXk`fj ;\l[X ]`eXeZ`\iX& KfkXc gXj`mf ;\l[X ]`eXeZ`\iX &GE ;\l[X ]`eXeZ`\iX :fii`\ek\& ;\l[X =`eXeZ`\iX kfkXc ;\l[X ]`eXeZ`\iX :fii`\ek\&GE GXj`mf KfkXc& GE

<e \jk\ j\ek`[f# cfj [`i\Zk`mfj [\ cX \dgi\jX gifglj`\ife [fj Zlijfj [\ XZZ`�e% <c (. [\ ]\Yi\if [\ )''0# cX 8jXdYc\X >\e\iXc Fi[`eXi`X XgifY� le Gif^iXdX >cfYXc gXiX cX \d`j`�e [\ FYc`^XZ`fe\j E\^f$ Z`XYc\j J`dgc\j# ef Zfem\ik`Yc\j \e XZZ`fe\j# Zfe ^XiXekˆX Zfd’e [\ _XjkX LJ;*''%'''%'''% :fe ]\Z_X )- [\ ale`f [\ )''0 j\ \d`k`� le gi`d\i kiXdf [\ LJ; ,' D% <e \c d`jdf d\j [\ ale`f [\ )''0# cX \dgi\jX ZfemfZ� X leX XjXdYc\X \okiXfi[`eXi`X \e cX hl\ j\ Xlkfi`q� le Xld\ekf [\c ZXg`kXc jfZ`Xc d\[`Xek\ cX \d`j`�e [\ el\mXj XZZ`fe\j% <c ;`i\Zkfi`f i\Xc`q� ki\j i\le`fe\j Z\c\YiX[Xj \c (( [\ ale`f# \c * [\ alc`f p \c * [\ X^fjkf [\ )''0# gXiX [\]`e`i

.0 (() *, +' (+)

cfj k„id`efj p Zfe[`Z`fe\j [\ cX d\eZ`feX[X \d`j`Â?e% <c [`i\Zkfi`f [\Z`[`Â? \d`k`i +),%'''%''' XZZ`fe\j \jZi`kliXc\j [\ mXcfi efd`eXc ( Zfe [\i\Z_f X ( mfkf ZX[X leX# Xld\ekXe[f Xjˆ \c ZXg`kXc jfZ`Xc X (%0+* D [\ XZZ`f$ e\j% PX \e j\gk`\dYi\ [\ )''0# j\ i\Xc`qÂ? cX \d`j`Â?e# [\ d\efi kXdX$ ÂŒf Xc fi`^`eXcd\ek\ \jk`dX[f p cX ZfcfZXZ`Â?e [\ cXj el\mXj XZZ`fe\j p \c ZXg`kXc jfZ`Xc gXjÂ? X ZfekXi Zfe (%.,.%.)0%(-( XZZ`fe\j \e Z`iZlcX$ Z`Â?e% <c i\jlckX[f Ă”eXc X cX ]\Z_X p [\ XZl\i[f Xc Â’ck`df YXcXeZ\ ki`$ d\jkiXc gi\j\ekX[f gfi cX \dgi\jX Xc *(&()&'0 j\ i\jld\ \e \c ZlX[if Xhlˆ \ogl\jkf% :feZclj`Â?e <c GcXe [\ <ogXej`Â?e cc\mX pX Zldgc`[X cX gi`d\iX ]Xj\ [\ cX \kX$

./ /+ *( )- ('/

/( /* ). )) ('*

.+ +) -. )/ ,-

gX @@# ^iXZ`Xj X hl\ \c D\iZX[f [\ :Xg`kXc\j 8i^\ek`ef kXekf [\ [\l$ [X Zfdf [\ XZZ`fe\j# gfj`Y`c`kXife cX i\\jkilZkliXZ`Â?e [\ cX j`klXZ`Â?e gXki`dfe`Xc [\ 8clXi% <c ]lklif [\ cX \dgi\jX \j gifd`$ jfi`f1 cfj gi\Z`fj j\ i\Zfdgfe\e# cX [\dXe[X ^cfYXc ml\cm\ X ^\e\$ iXij\ p 8clXi Zl\ekX _fp Zfe leX dXpfi ZXgXZ`[X[ [\ gif[lZZ`Â?e gXiX jXk`j]XZ\icX% CX _`jkfi`X [\ el\jkif giÂ?o`df eÂ’d\if \j cX [\ le ^`^Xek\ hl\ gfi jl kXdXÂŒf e\Z\j`kX i\Zlii`i X el\mXj p mXi`X[Xj ]l\ek\j [\ Ă”eXeZ`Xd`\ekf% Cl\^f [\ leX Xl$ j\eZ`X [\ mXi`fj XÂŒfj# [\c`e\Â? le gif^iXdX \jg\ZÂˆĂ”Zf gXiX i\Zfe$ hl`jkXi X cfj `em\ijfi\j cfZXc\j% <c ZXjf [\ PG= JfZ`\[X[ 8eÂ?e`dX p jl ml\ckX X cX \d`j`Â?e [\ [\l[X d\i\Z\ j\i ZfekX[X%

*(

=`eXeqXj

Gi\m\eZ` e [\c cXmX[f [\ XZk`mfj1 el\mfj [\jX] fj gXiX )'(' =8GC8 [\dl\jkiX cX i\jgfejXY`c`[X[ `e[\c\^XYc\ hl\ k`\e\ \c j\Zkfi g Yc`Zf \e cX clZ_X ZfekiX \jkX df[Xc`[X[ [\ Zi`d`eXc`[X[ fi^Xe`qX[X# leX [\l[X X e g\e[`\ek\ gXiX Zfe cX jfZ`\[X[ ;i% Afj DXi X JXc`eXj Gi\j`[\ek\ =8GC8 nnn%]XgcX%fi^%Xi

8

gfZfj k`\dgf [\ Zfd\eqXi \c )'('# mXc\ leX i\Õ\o` e XZ\iZX [\ Z df \jkXdfj \e cX 8i^\ek`eX \e dXk\i`X [\ gi\$ m\eZ` e p i\gi\j` e [\c cXmX[f [\ XZk`mfj% 8 \jfj Ôe\j Zi\\dfj g\ik`e\ek\ XeXc`qXi gfi j\gXiX[f cf _\Z_f gfi \c j\Zkfi gi`mX[f p gfi \c j\Zkfi g $ Yc`Zf [liXek\ \c ck`df X f p cf hl\ m\e[i} \e \c Zfii`\ek\% Ef ZXY\ [l[X# p jfYi\ \ccf _XYcX$ dfj p [\YXk`dfj \e \c J\d`eXi`f [`i`^`[f X cfj j\Zkfi\j ÔeXeZ`\if# Ylij}k`c p ZXdY`Xi`f hl\ i\Xc`q =8$ GC8 \e efm`\dYi\ ck`df \e 9l\efj 8`i\j# hl\ \c j\Zkfi gi`mX[f _X m\e`$ [f i\Xc`qXe[f le \j]l\iqf \efid\ [\j[\ )'') X cX ]\Z_X# gXiX X[\ZlXi jl XZk`m`[X[ X \jk\ el\mf [\jX] f [\ gi\jkXi Xc <jkX[f leX ZfcXYfiXZ` e \j\eZ`Xc \e cX gi\m\eZ` e [\ \jfj ÕX^\cfj# X e X g\jXi [\ cXj \o`^\e$ k\j p gcliXc\j i\^cXd\ekXZ`fe\j% <e ZXdY`f# gf[i Xdfj [\Z`i hl\ \c j\Zkfi g Yc`Zf \jk} \e [\l[X Zfe cX jfZ`\[X[% P \jX [\l[X ef j\ gX^X Zfe \jkX[ jk`ZXj j`ef Zfe _\Z_fj ZfeZi\kfj% ?XZ`X ÔeXc\j [\ )''.# \c G<E [`Zk \c ;\Zi\kf E² ()), È8^\e[X EXZ`feXcÉ# le gifp\Zkf hl\ gfi cf XdY`Z`fjf p Zfdgc\af Xek`Z`g cXj [`ÔZlckX[\j fg\iXk`mXj hl\ X cX gfj$ ki\ k\e[i X% P ZlXe[f _XYcf [\c j\Zkfi g Yc`Zf ef d\ \jkfp Z`iZlejZi`Y`\e[f X cX Le`[X[ [\ @e]fidXZ` e =`eXeZ`\iX L@= # j`ef hl\ kXdY` e `eZclpf X cX

*)

Gfc`Z X =\[\iXc# Xc D`e`jk\i`f G Yc`Zf =`jZXc p X cX Aljk`Z`X EXZ`feXc% Gfihl\ cX g\ij\ZlZ` e [\c cX$ mX[f [\ XZk`mfj# ef \jk} e` gl\[\ \jkXi jlg\[`kX[X \oZclj`mXd\e$ k\ X cfj i\gfik\j [\ fg\iXZ`fe\j jfjg\Z_fjXj hl\ gl\[Xe _XZ\i cfj jla\kfj fYc`^X[fj X `e]fidXi p cXj [\eleZ`Xj g\eXc\j hl\ Zfdf Zfej\Zl\eZ`X [\ \ccXj# \m\eklXc$ d\ek\ i\Xc`Z\ cX L@=% <c j\Zkfi g Yc`Zf k`\e\ leX i\jgfejXY`c`[X[ gifg`X \ `e[\c\^XYc\ \e dXefj [\ [`m\ijfj XZkfi\j# hl\ jfe hl`\e\j k`\e\e hl\ Zfe[lZ`i kXekf cX kXi\X [\ gi\m\eZ` e# Zfdf cX [\ cX i\$ gi\j` e [\ \jk\ ÕX^\cf% Jfe dlZ_Xj cXj ZfjXj hl\ j\ gl\[\e df[`ÔZXi gXiX hl\ \c j`jk\$ dX d\afi\ i\]fidX [\c k`gf c\^Xc# Zfe]fidXZ` e [\ leX L@= Xlk efdX \ `e[\g\e[`\ek\# ZXgXZ`kXZ` e [\ cXj

]l\iqXj gfc`Z`Xc\j# \eki\ fkifj % CX \og\i`\eZ`X [\ \jkfj el\m\ X fj X gXik`i [\ cX jXeZ` e [\ cX C\p ),%)+-# _X j\im`[f gXiX i\$ XÔidXi cX i\jgfejXY`c`[X[ `e[\c\$ ^XYc\ hl\ k`\e\ \c j\Zkfi g Yc`Zf \e cX clZ_X ZfekiX \jkX df[Xc`$ [X[ [\ Zi`d`eXc`[X[ fi^Xe`qX[X p hl\ cX d`jdX ef gl\[\ hl\[Xi Z`iZlejZi`gkX X le i^Xef X[d`$ e`jkiXk`mf Zfdf \j cX Le`[X[ [\ @e]fidXZ` e =`eXeZ`\iX L@= % <e \c X f [\c 9`Z\ek\eXi`f# Zfe$ ÔXdfj \e hl\ j\ gf[i} gfe\i cX d`iX \e \jkXj Zl\jk`fe\j gXiX [f$ kXi Xc j`jk\dX [\ dXpfi \ÔZXZ`X% <j\ j\i} el\jkif fYa\k`mf gXiX cX gi o`dX :ldYi\ [\c )0 [\ XYi`c \e \c J_\iXkfe 9l\efj 8`i\j [\c hl\ gXik`Z`gXi}e cfj gi`eZ`gXc\j gifkX^fe`jkXj [\c j\Zkfi g Yc`Zf p gi`mX[f \e cX dXk\i`X%

=fe[fj Zfdle\j

8e}c`j`j [\ cX :}dXiX 8i^\ek`eX [\ =fe[fj :fdle\j [\ @em\ij`Â?e

<jkX[ˆjk`ZXj jfYi\ \c gXki`dfe`f YXaf X[d`e`jkiXZ`�e

C

fj =fe[fj :fdle\j [\ @e$ m\ij`Â?e# \e cfj gi`d\ifj ,, [ˆXj [\c XÂŒf# m`\ife i\[lZ`[f jl gXki`dfe`f _XjkX cfj (,%//* d`$ ccfe\j [\ g\jfj# leX [`jd`elZ`Â?e gXiX \c kfkXc [\ gXki`dfe`fj YXaf X[d`e`jkiXZ`Â?e [\ (%('' d`ccfe\j [\ g\jfj% D`\ekiXj kXekf# cfj Xl$ d\ekfj \e cfj gXki`dfe`fj j\ [`\$ ife \e [fj j\^d\ekfj1 cfj =fe[fj [\ I\ekX =`aX p cfj [\ I\ekX D`okX% Cfj ^i}Ă”Zfj hl\ gl\[\e c\\ij\ \e \jkXj g}^`eXj# ]l\ife \cXYf$ iX[fj Zfe Ă”eXc`[X[\j \jkX[ˆjk`$ ZXj gfi cX :}dXiX 8i^\ek`eX [\ =fe[fj :fdle\j [\ @em\ij`Â?e# \e YXj\ X [Xkfj i\Z`Y`[fj [\ jlj XjfZ`X[Xj% 8hlˆ# gf[i} Zfdgi\e[\ij\ cX \mfclZ`Â?e [\ cfj gXki`dfe`fj YXaf X[d`e`jkiXZ`Â?e# \c Xe}c`j`j [\ cXj mXi`XZ`fe\j [\ cX `e[ljki`X p cX Zfdgfj`Z`Â?e [\ cX ZXik\iX ^cfYXc p gfi k`gf [\ ]fe[f% <e ZlXekf X cfj gXki`dfe`fj YXaf X[d`e`jkiXZ`Â?e# \e cfj [fj gi`d\$ ifj d\j\j [\c XÂŒf# j\ m`\ife i\[l$

Z`[fj \e (('' d`ccfe\j [\ g\jfj% J`e \dYXi^f# _lYf [fj j\^d\e$ kfj [\ e\^fZ`fj hl\ c`[\iXife Xl$ d\ekfj1 cfj =fe[fj [\ I\ekX =`aX hl\# Zfe jljZi`gZ`fe\j e\kXj gfi )0(#, d`ccfe\j \ `eZi\d\ekfj gfi i\e[`d`\ekf [\ `em\ij`fe\j [\ ++ d`ccfe\j \e ,,[ˆXj i\gi\j\ekXe \c *'#+ [\ cX `e[ljki`X# Zfe le kfkXc hl\ XcZXeqX cfj +%/*+ d`ccfe\j [\ g\jfj YXaf X[d`e`jkiXZ`�e2 p cfj =fe[fj [\ I\ekX D`okX # Zfe (-#( d`ccfe\j ")#/ # jldXe \c *#/ [\c kfkXc [\ gXki`dfe`fj% LeX YXaX [\ ((0) d`ccfe\j [\ g\jfj \og\i`d\ekXife cfj =fe[fj [\ ;`e\if2 p cfj =fe[fj [\ I\ekX MXi`XYc\# Zfe i\jZXk\j e\kfj gfi (,)#0 d`ccfe\j# jl]i`\ife kXdY`„e leX [`jd`elZ`�e \e cX mXcfi`qXZ`�e [\ cfj XZk`mfj \e ZXik\iX [\ ('-#) d`ccfe\j $*#. % =`eXcd\ek\# cX mXcfi`qXZ`�e [\c kfkXc [\ cfj XZk`mfj \e ZXik\iX [\ kf[fj cfj =fe[fj ^\e\i� le `eZi\$ d\ekf gXki`dfe`Xc# \e ,, [ˆXj# [\ ()(#) d`ccfe\j%

$

#

$ ! % !

$

! " !

! "

% $ ! % !

$ ! % !

$

*+

%

! " !

#

$

! "

%

$

! " !

$ ! % !

#

#

! " !

! "

! "

$ ! % !

*,

=fe[fj Zfdle\j

LeX `em\ij` e gfj`Yc\ @ejkild\ekf \ÔZXq \e gfZXj j`e jfYi\jXckfj \Zfe d`Zfj# cX Zi`j`j [\ cfj d\iZX[fj _X gifmfZX[f hl\ cfj mfc d\e\j fg\iX[fj \e \jkXj ZXik\iXj j\ _XpXe i\[lZ`[f efkXYc\d\ek\ Gfi :Xicfj 9% Jilc\m`Z_ JfZ`f $ ;\cf`kk\

@

e[l[XYc\d\ek\ cXj Zi`j`j \Zf$ e d`ZXj p ÔeXeZ`\iXj hl\ m`\e\ jfgfikXe[f el\jkif gX j \e cXj ck`dXj [ ZX[Xj p# \e gXik`ZlcXi# \e cX ck`dX# ^\e\iXife Zfek\okfj [\ j\m\iX `c`hl`[\q% <e X[`Z` e X cXj [`ÔZlckX[\j cfZXc\j# j\ c\ jld [\j[\ \c X f )''/# leX X[`Z`feXc Xc d\iZX[f [\ ZXg`kXc\j# hl\ ]l\ cX ^iXm\ Zi`j`j ÔeXeZ`\iX ^cfYXc ^\e\iX[X \e Xc^lefj gX j\j Z\ekiXc\j# j`klXZ` e hl\ gif$ mfZ \efid\j jXcmXkXa\j \Zfe d`Zfj i\Xc`qX[fj# gi`eZ`gXcd\ek\# gfi cfj ^fY`\iefj [\ \jfj gX j\j#

*-

YXaf cX gi\jleZ` e hl\ Xgfik\j j`^$ e`ÔZXk`mfj [\ c`hl`[\q ^\e\iXi Xe d\efi\j Zfej\Zl\eZ`Xj X cX \Zf$ efd X hl\ cfj hl\ _lY`\iXe ^\e\$ iX[f ^iXe[\j hl`\YiXj YXeZXi`Xj% 8 \jkX XckliX [\ cXj Z`iZlejkXeZ`Xj# kf[Xm X cX Zi`j`j ef ]l\ i\jl\ckX [\Ôe`k`mXd\ek\ gfi cXj \ek`[X[\j `emfclZiX[Xj p j`^l\ _XY`\e[f `d$ gfikXek\j i gc`ZXj% Kf[f \jk\ gXefiXdX [\i`m [l$ iXek\ le gifcfe^X[f k`\dgf \e leX j\i`\ [\ `eZ\ik`[ldYi\j hl\ [\Y\i Xe `i i\^lcXi`q}e[fj\ ZlXe$ [f cfj d\iZX[fj ÔeXeZ`\ifj p [\ ZXg`kXc\j mXpXe i\jfcm`\e[f cfj

gifYc\dXj [\ c`hl`[\q p jfcm\eZ`X hl\ cXj ^\e\iXife% <e \jk\ Zfek\okf# cXj gfj`Y`c`[X$ [\j [\ o`kf [\ le `ejkild\ekf [\ `em\ij` e dlp \ÔZXq gXiX \c g Yc`Zf p cXj \dgi\jXj# Zfdf jfe cfj ]fe[fj Zfdle\j [\ `em\ij` e# jl\c\e m\ij\ i\[lZ`[Xj _XjkX kXekf j\ XZcXi\ \c gXefiXdX% Hl`\e j\ XZ\ihl\ X leX X[d`e`jkiX[fiX [\ ]fe[fj [\ `em\i$ j` e gf[i} fYj\imXi hl\# \e cX XZ$ klXc`[X[ p [\j[\ _XZ\ mXi`fj X fj# \o`jk\ leX ^XdX dlp eld\ifjX [\ Xck\ieXk`mXj gfj`Yc\j [\ \c\ZZ` e \eki\ cfj ZlXc\j# [\g\e[`\e[f [\ cfj Zfdgfe\ek\j [\ jlj ZXik\iXj# f]i\$ Z\e X cfj `em\ijfi\j le XYXe`Zf dlp Xdgc`f [\ i`\j^fj `emfclZiX[fj hl\ [\i`mXe fYm`Xd\ek\ \e i\ekXY`c`[X$ [\j dlp [`m\ijXj% J` ]fZXc`qXdfj \c Xe}c`j`j \e cX 8i^\ek`eX# cX Zi`j`j \Zfe d`ZX p Ô$ eXeZ`\iX `e`Z`X[X \e cfj X fj )''( p )'') p Zfe Zfej\Zl\eZ`Xj gfi mXi`fj X fj _XZ`X X[\cXek\# ^\e\$ iXife i\jZXk\j dlp j`^e`ÔZXk`mfj [\ ZlfkXj gXik\j i\Xc`qX[fj gfi cfj `em\ij`fe`jkXj# cc\^Xe[f X hl\ cfj ]fe[fj d\efj mfc}k`c\j dXek\e^Xe gXki`dfe`fj dlp i\[lZ`[fj p hl\ cfj d}j i`\j^fjfj _XpXe kfdX[f cXj d\[`[Xj e\Z\jXi`Xj gXiX Z\iiXicfj% <e k id`efj ZfejkXek\j# cXj ZXik\$ iXj [\ `em\ij`fe\j# \e jl Zfealekf# kf[Xm X ef _Xe ml\ckf X i\kfdXi cfj mfc d\e\j fg\iX[fj Zfe Xek\i`fi`$ [X[ X cfj X fj j\ XcX[fj% <j \jg\iXYc\ hl\ cX efidXc`qXZ` e [\ kf[fj cfj ]XZkfi\j \Zfe d`Zfj p ÔeXeZ`\ifj `eZ\ek`m\ cX ml\ckX [\ cfj `em\ij`fe`jkXj X \jk\ `ejkild\e$ kf# hl\ _X [\dfjkiX[f j\i [\ jldX lk`c`[X[ \e X fj [\ gfZf jfYi\jXckfj \Zfe d`Zfj%

EfkX [\ kXgX

*/

8c\ikX eXiXeaX `eÕXZ`feXi`f

CX d\j\kX [\c )' Zfk`qX \e XjZ\ejf p Zi`jgX cfj e\im`fj :lXe[f cfj \jg\Z`Xc`jkXj \Z_Xe dXef Xc [`ZZ`feXi`f [\ cXj Xek\jXcXj [\ Zi`j`j1 \og\ZkXk`mX# `eZ\ik`[ldYi\# `e\iZ`X# \ogXej` e dfe\kXi`X# ÔjZXc# [ ÔZ`k#i\qX^f# \kZ%# j\ \eZ`\e[\e clZ\j \e \c kXYc\if [\ cfj ZXg`kXc\j% Cfj gi\Z`fj j\ mXe gXiX Xii`YX p cX Xej`\[X[ Zi\Z\% J`\k\ \Zfefd`jkXj [\ gi`d\i e`m\c Zfeal^Xife cX kXYcX [\c )' p j`^l`\ek\j

8[i`}e Lihl`qX

<

c @ejk`klkf EXZ`feXc [\ <j$ kX[ jk`ZXj p :\ejf @e[\Z i\ZfefZ` hl\ \c Xld\ekf \e cX \mfclZ` e [\ cfj gi\Z`fj \e \e\if ]l\ \c d}j Xckf [\ cfj ck`dfj )) d\j\j% GfZf `ek\i\jX [`jZlk`i j` ]l\ [\ lef# [fj f d}j glekfj% KXdY` e j\ g\iZ`Y\ \e cX ZXcc\% GifkX^fe`jkX [\ kiXld}k`Zfj jXc$ mXkXa\j \e ki\j [ ZX[Xj# ;fd`e^f :XmXccf Xid cX \jZXc\i`kX [\ cX kXjX XelXc [\ `e]cXZ` e# \jZl[i` Xe[f X [`Xi`f cX \mfclZ` e [\ Xc`d\ekfj p ZXeXjkX Y}j`ZX X kiXm j [\ cXj c`j$ kXj hl\ glYc`ZXe cfj jlg\id\iZX$ [fj gfi @ek\ie\k% 8j # \e efm`\dYi\ [`f (-#, 2 (0# \e [`Z`\dYi\2 ZXj` )'# \e \e\if p )+ \e ]\Yi\if% J`e \dYXi^f# \jk\ ¶i\XZfdf[X$ d`\ekf6 [\ cfj gi\Z`fj \jk} kf[Xm X c\afj [\ kiX\i i\d`e`jZ\eZ`Xj [\ cfj hl\ gi\Z\[`\ife X cXj ^iXe[\j Zi`$ j`j \Zfe d`ZXj# Zfdf cX [\c )''( f (0/0% ¶8c\ikX6 j # ¶XcXidX6 ef 8_fiX _Xp kXekXj i\j\imXj [\ jfYiX \e \c 9XeZf :\ekiXc hl\ \c ^fY`\ief j\ X]XeX gfi \Z_Xic\j \c ^lXek\% <c jlg\i}m`k Zfd\iZ`Xc \j cXi^X$

d\ek\ gfj`k`mf% <c i\jlckX[f ]`jZXc j\i X# glekf d}j f d\efj j\^ e \c Zi`jkXc Zfe hl\ j\ d`i\ # _fp gfi _fp# YXjkXek\ \hl`c`YiX[f% CX ]fkf \j [\c [ X p cXj gifp\ZZ`f$ e\j Zfii\e gfi Zl\ekX [\ hl` e cXj i\Xc`Z\% <jf j # ef _Xp qfqfYiXj X cX m`jkX \e cX YXcXeqX [\ gX^fj# Zlpf ]`\c mfck\ X d}j [\ le ^fY`\ief% Dfe\kXi`X1 Xlehl\ fcm`[X[X# i\$ XgXi\Z` cX gXcXYiX hl\ kXekf jl\c\ gi\fZlgXi X cfj d\iZX[fj [\ ]`$ eXeqXj p ZXg`kXc\j% <c gifp\Zkf [\ ]fe[f [\c 9`Z\ek\eXi`f p \c [\jg`[f [\ I\[iX[f cX [\j\dgfcmXife% CX Zf`eZ`[\eZ`X \j ^\e\iXc1 cX ZfekiX$ gXik\ \e g\jfj [\ \jXj i\j\imXj# [\ le df[f l fkif# `i}e X gXiXi Xc ]`jZf% Le Èm`\af qfiifÉ [\ \jXj c`[\j# Zfdf FjmXc[f M\ekliX# X[m`\ik\ hl\ j` Y`\e \c d\iZX[f X e ef i\$ XZZ`fe # \jk} Xk\ekf X cXj kiXYXj c\^`jcXk`mXj p al[`Z`Xc\j hl\ j\ `e$ k\igfe^Xe X leX \d`j` e dfe\kX$ i`X cXk\ek\ [\c +' [\ cX YXj\ hl\ `e]`\i\e [\ cfj ;EL \e al\^f% ÈJ` _lY`\iX i\XZZ` e# \c Y`cc\k\ \jk} \e gi`d\i cl^Xi% <j `dgfj`Yc\ Zfem`m`i Zfe leX kXjX [\ `e]cXZ` e i\Xc [\ [fj [ ^`kfj ZfekiX leX kXjX [\ `ek\i j `ek\ieXZ`feXc gi}Zk`ZX$ d\ek\ Z\ifÉ# X]`idX%

*0

EfkX [\ kXgX

LeX ZXdgXe`ccX Xg\eXj Xl[`Yc\ cc\^X Zfdf c\kXe X [\j[\ \c fkif cX[f [\c dXgX1 ·Zl`[X[f Zfe i\$ ZX [Xj hl\ X]\Zk\e X cfj Zfddf$ [`k`\j p# gfi \e[\# \c `e^i\jf [\ [`m`jXj gfi \ogfikXZ`fe\j P&f hl\ cX I\j\imX =\[\iXc jlYX cX kXjX gXiX XglekXcXi Xc [ cXi p hl\ gfi XZ} c\j i\Zl\i[\ X cfj fg\iX[fi\j hl\ \c ZXdY`f \jkXYX i\gi`d`[f% @e\iZ`X1 \j \c dfkfi hl\ `[\ek`$ ÔZXe j`\k\ \Zfefd`jkXj [\ gi`d\i e`m\c ZfejlckX[fj gfi È8cqXj p 9X$ aXjÉ \e \jkX \kXgX i\[`jki`Ylk`mX% J\ kiXkX [\ D`^l\c 9\`e <jkl$ [`f 9\`e 8jfZ`X[fj # AlXe Cl`j 9fli =@<C # FjmXc[f :X[f Gi\$ ]`e\o # FicXe[f =\ii\i\j <jkl[`f =\ii\i\j 8jfZ`X[fj # If^\c`f =i`^\i`f <Zfefd X I\^`fe\j # ;Xe`\c ?\pdXee :<G8C p ClZXj CcXZ_ LK;K p cXZ`\eZ`XdXc[`kX% Ycf^jgfk%Zfd% J` \cXYfi}iXdfj leX _faX [\ ilkX Zfe cXj Zf`eZ`[\eZ`Xj \eki\ \jkfj j`\k\ \og\ikfj# _XYi X hl\ d\eZ`feXi cfj j`^l`\ek\j k\dj1 ● CX d\j\kX [\c )' i\Xc hl\ kiX X \e cfj [fj ck`dfj X fj `ej`$ e X jlY`i [\ g\c[X f% ● CXj \og\ZkXk`mXj dl[Xife [\ gcXqf2 [\ j\i XelXc\j gXjXife X d\ejlXc\j% ● I\XgXi\Z` cX gXcXYiX `eZ\i$ k`[ldYi\% ● <c i\XZfdf[Xd`\ekf [\ cfj gi\Z`fj [\ Xc`d\ekfj# j\im`Z`fj p jXcXi`fj \jk} XZk`mX[f# p cX d\afiX \e \c Zfejldf cf ZfdYljk`feX% ● <c k`gf [\ ZXdY`f j\ i\kiXjX d}j \e i\cXZ` e X cfj Zfjkfj# g\if Zfdf hl\[ X d`kX[ [\ ZXd`ef \eki\ cX kXjX [\ `ek\i j p cX d\$ j\kX [\c )' [\ cfj gi\Z`fj# j`im\ Zfdf i\]l^`f% ● <c ^Xjkf g Yc`Zf ef [X gXiX d}j p \c ljf [\ i\j\imXj `i} X gXiXi X cX iY`kX ]`jZXc Zfdf `d$ gl\jkf `e]cXZ`feXi`f% ● Ef _Xp ZX [X [\ [\g j`kfj e` i`\j^f [\ Zfii`[Xj X cX m`jkX% ● <c jlg\i}m`k Zfd\iZ`Xc [\ \jk\ X f Xj\^liX kiXehl`c`[X[ ZXdY`Xi`X%

+f

● <c [ cXi j\^l`i} j`\e[f cX m\$ [\kk\# \e ]fidX [\ Yfef f Y`cc\k\%

CX mfq [\ cfj hl\ jXY\e 8 91 ¶<jkXdfj \e le gif$ Z\jf `eÕXZ`feXi`f gfi i\Zlg\$ iXZ` e \Zfe d`ZX f gfi Xc^ e [\jYfi[\ dfe\kXi`f X kiXm j [\ cX m X ÔjZXc6 9\`e1 E` leX ZfjX e` cX fkiX% ?Xp leX `e\iZ`X [\ i\kifXc`d\ekXZ` e \e gi\Z`fj p jXcXi`fj% <j Zfdf leX g\cfkX hl\ \jk} if[Xe[f X le i`kdf [\c (-&(. # _XZ\ mXi`fj X fj% CXj \ogc`ZXZ`fe\j [\ [\i\$ Z_X [`Z\e hl\ cfj gi\Z`fj k`\e\e hl\ kiXjcX[Xi \c Xld\ekf [\ jX$ cXi`fj p cX `qhl`\i[X [`Z\ hl\ cfj jXcXi`fj [\Y\e i\Zlg\iXi cX `e]cX$ Z` e gXjX[X% CX i\Xc`[X[ \j hl\ ef _Xp le ^Xaf [fe[\ lef gl\[X [\Z`i hl\ \dg`\qX cX g\cfkX% J`d$ gc\d\ek\ \jk} if[Xe[f% 9fli1 ;\j[\ )''.# Xc d\efj# \o`jk\ \m`[\eZ`X [\ [fd`eXeZ`X ]`jZXc \e \c gifZ\jf `e]cXZ`feXi`f# hl\ j\ Zfdgc\d\ekX Zfe leX gf$ c k`ZX dfe\kXi`X hl\# \e Xlj\eZ`X [\ ]l^X dXj`mX [\ ZXg`kXc\j# j\ kfieX kXdY` e \ogXej`mX% :fe \c ljf [\ i\j\imXj [\c 9:I8# \jk} ZcXif hl\ cX gfc k`ZX dfe\kXi`X al\^X gXj`mXd\ek\ X cf hl\ [\$ dXe[\ \c ^Xjkf g Yc`Zf% :X[f1 CX gfc k`ZX [\ k`gf [\ ZXdY`f ]`af X * g\jfj gi`d\if p _fp *#/'# cX ZlXc m`\e\ XjfZ`X[X `e\m`kXYc\d\ek\ X leX gfc k`ZX ]`jZXc p dfe\kXi`X \ogXej`mX# ]l\ \c [`jgXiX[fi [\ le gifZ\$ jf `e]cXZ`feXi`f% :lXe[f le gX j jfjk`\e\ leX kXjX [\ `e]cXZ` e [\ [fj [ ^`kfj gfi d}j [\ [fj X fj# Zfd`\eqXe X al^Xi ]l\ik\d\ek\ cXj \og\ZkXk`mXj p cX `e\iZ`X# d}j kf[Xm X j` j\ [\jkilp\ cX Zi\[`Y`$ c`[X[ [\ cX \ek`[X[ \eZXi^X[X [\ d\[`i \jkX mXi`XYc\% =\ii\i\j1 CXj gi\j`fe\j jfYi\ cfj Zfjkfj p# gi`eZ`gXcd\ek\# cX gfc k`ZX ]`jZXc \ogXej`mX# j\ gi\$ j\ekXe Zfdf cXj ZXljXj [\ \jkX el\mX \kXgX [\ le gifZ\jf `e]cX$ Z`feXi`f# hl\ j\ `e`Z` [\jgl j [\

cX [\mXclXZ` e g\if hl\ ]l\ dl$ kXe[f% Cl\^f [\c gi`d\i j_fZb `e]cXZ`feXi`f kiXj cX [\mXclXZ` e# cX gi\j` e `e]cXZ`feXi`X m`ef [X[X gfi leX [\dXe[X efd`eXc hl\ Zi\Z X X le i`kdf dXpfi Xc [\ cX f]\ikX# \e le Zfek\okf [\ jlYX [\ gi\Z`fj [\ Zfddf[`k`\j# cf hl\ ^\e\iXYX Z`\ikX È`e]cXZ` e `d$ gfikX[XÉ% J`e \dYXi^f# \e )''0# \c G@9 Xi^\ek`ef ZXp +#, p [\ kf[Xj ]fidXj cX `e]cXZ` e j\ lY`Z \e kfief Xc (#( d\ejlXc% 8j # j` Y`\e j\ [\jXZ\c\i Zfe i\jg\Zkf X )''/# k\id`e \c X f \e (+#, XelXc# le Zi\Z`d`\ekf [\ gi\Z`fj \c\mX[f \e le Zfek\okf i\Z\j`mf% =i`^\i`f1 <c \]\Zkf hl\ \c Xl$ d\ekf [\ cX [\dXe[X X^i\^X[X j\ [\jkXZX \e \jk\ gifZ\jf `e$ ]cXZ`feXi`f# Zfe leX f]\ikX hl\ Zi\Z\ df[\iX[Xd\ek\ Zfdf Zfej\Zl\eZ`X [\ le e`m\c [\ `e$ m\ij` e `ejl]`Z`\ek\ Zfe leX lk`$ c`qXZ` e [\ cX ZXgXZ`[X[ `ejkXcX[X [\ cX `e[ljki`X Z\iZX [\c gc\ef \dgc\f % CX gfc k`ZX ]`jZXc [\jd\$ [`[Xd\ek\ \ogXej`mX `eZclj`m\ \e cfj Z`Zcfj [\ Xl^\ p gc\ef \d$ gc\f ZfcXYfiX \e _XZ\i Zi\Z\i cX [\dXe[X X^i\^X[X X le i`kdf dXpfi hl\ cX f]\ikX p k\id`eX j`\e[f lef [\ cfj dfkfi\j [\c `e$ Zi\d\ekf [\ gi\Z`fj gfi gi\j` e [\ [\dXe[X% <e \jk\ dXiZf [\ `em\ij` e `ejl]`Z`\ek\# _Xp hl\ k\$ e\i \e ZcXif hl\ ZlXchl`\i gfc k`$ ZX ]`jZXc# dfe\kXi`X# [\ `e^i\jfj p&f i\[`jki`Ylk`mX hl\ `eZ\ek`m\ \c Zfejldf j\ kiX[lZ`i} \e XZ\$ c\iXZ` e [\ cX `e]cXZ` e% ?\pdXee1 <jkXdfj \e le gif$ Z\jf `e]cXZ`feXi`f df[\iX[f% ;`j$ k`ekf hl\ \c [\ leX XckX `e]cXZ` e# Zfdf cfj hl\ j\ ZfefZ`\iXe \e cX _`jkfi`X% =XckXi X gXiX cc\^Xi X \ccf cX ZfdY`eXZ` e [\ leX Zi`j`j ZXdY`Xi`X p Xckfj [ ]`Z`kj ]`jZXc\j# hl\ \j cX d\qZcX \ogcfj`mX hl\ cX [`jgXiXiX \e Xhl\ccfj ZXjfj% Cfj [fj [ ^`kfj pX \jk}e `ejkXcX[fj# [\j[\ )'',# ZlXe[f j\ cc\^ X (' # )''-# ef p# [\j[\ )''.# \jkXdfj \eki\ (, p )' % <jkX

EfkX [\ kXgX

i\g`k\eZ`X \j cX hl\ gifmfZX cXj \og\ZkXk`mXj% CcXZ_1 :i\f hl\ e` cf lef e` cf fkif% Efj ZfekX^`Xdfj \c m`ilj [\ cX `e]cXZ` e gfi cX gfc k`ZX ZXdY`X$ i`X [\ _`g\i[\mXclXZ` e \e X fj gXjX[fj# p \j\ m`ilj ef j\ mX jfcf% LeX m\q hl\ k\e j [fj X fj [\ )' # cf d}j gifYXYc\ \j hl\# j` ef _XZ j eX[X# \c j`^l`\ek\ ife[\ cfj )' # gfZf d}j f gfZf d\efj j\^ e cX gfc k`ZX ]`jZXc p \c Z`Zcf \Zfe d`Zf% 8 91 ¶Cf hl\ _Xp \j leX il\[X [\ i\XZfdf[Xd`\ekf [\ gi\Z`fj i\^lcX[fj XkiXjX[fj# Zfdf jXcXi`fj# ZfdYljk`Yc\j# p fkifj hl\ X e \jg\iXe klief1 j\im`Z`fj g Yc`Zfj# Xc`d\ekfj f Xc^f d}j6 9\`e1 8[\d}j [\ cX `e]cXZ` e YXj\# \o`jk\ i\Zfdgfj`Z` e [\ gi\Z`fj i\cXk`mfj% :Xjf k g`Zf cX ZXie\# hl\ k`\e\ hl\ m\i Zfe \c ZXdY`f Zc`d}k`Zf XYilgkf# [fe[\ gXjXdfj [\ leX j\hl X ki\d\e$ [X X leX cclm`X hl\ gXi\Z\ Xj\d\$ aXij\ Xc i`\^f [\ cfj ZXdgfj% Le ZXdgf hl\ _XZ\ le X f klmf hl\ XZ_`ZXi [\ ('' X .' gfi ]XckX [\ gXjkf# _fp gl\[\ \ogXe[`ij\ [\ ('' X (,'% 9fli1 <o`jk\e fkifj ]XZkfi\j hl\ `dglcjXe cX `e]cXZ` e# `e$ Zclp\e[f cX gfc k`ZX \e\i^ k`ZX $hl\ `e[lZ\ leX ZfekiXZZ` e [\ cX f]\ikX p leX \ogXej` e [\ cX

+)

[\dXe[X$# cXj gfc k`ZXj jfYi\ cX gif[lZZ` e [\ ZXie\ p c\Z_\ Æhl\ kXdY` e `e[lZ\e leX ZX [X [\ cX f]\ikX p dXpfi [\dXe[X$# cfj g\i` [`Zfj Xaljk\j [\ kXi`]Xj i\qX^X[Xj \e )'')&.# Zfekifc\j [\ gi\Z`fj hl\ Xc i\[lZ`i cX f]\ikX [fd jk`ZX k`\e\e \]\Zkf kiXej`kf$ i`f X cX YXaX p d}j kXi[\ Xc XcqX cf hl\ mXc\ ef j cf gXiX ZXie\ p c\$ Z_\# j`ef `eZcljf gXiX j\Zkfi\j [\ j\im`Z`fj # p gfc k`ZX [\ `e^i\jfj \ogXej`mX gXiX ¡Z\YXi cX Yfd$ YX¡% Cfj gi\Z`fj [\ cfj Xc`d\ekfj \jk}e X]\ZkX[fj X e`m\c dXpfi`jkX i\k\eZ`fe\j# gif_`Y`Z`fe\j [\ \ogfikXZ` e# `ek\im\eZ` e [`i\ZkX \e d\iZX[fj dXpfi`jkXj# \kZ% p X e`m\c Zfejld`[fi% :X[f1 ?Xp Z`\ikX gi\j` e gfi Xaljk\ [\ gi\Z`fj ZfekifcX[fj p&f i\^lcX[fj# g\if fg\iX d}j hl\ eX[X Zfdf ]XZkfi [\ `eZ\ik`[ld$ Yi\# hl\ Zfdf Xd\eXqX i\Xc [\ Xld\ekf [\ gi\Z`fj% CX `e]cXZ` e XZklXc k`\e\ ZXljXj dXZif\Zfe $ d`ZXj# Xc dXi^\e [\ hl\ gl\[Xe \o`jk`i Zl\ccfj [\ Yfk\ccX p gi\Z`fj XkiXjX[fj \e Xc^lefj ilYifj \j$ g\Z ]`Zfj% =\ii\i\j1 ?Xp hl\ k\e\i \e Zl\ekX hl\ X e _Xp gi\Z`fj hl\ ef j\ i\XZfdf[Xife cl\^f [\ cX [\mXclXZ` e# \eZfeki}e[fj\ ]l\i$ k\d\ek\ i\^lcX[fj% <c ZXjf d}j ZcXif \j \c [\ cXj kXi`]Xj \c Zki`$ ZXj p [\ ^Xj# hl\ j\ lY`ZXe dlp gfi [\YXaf [\c gifd\[`f i\^`feXc%

8j j\ _X ^\e\iX[f leX ¡`e]cXZ` e i\gi`d`[X¡# hl\ j\ gf[i X jldXi X cX `e]cXZ` e hl\ j\ fYj\imX \e cX XZklXc`[X[% =i`^\i`f1 Cfj jXcXi`fj j\ i\$ XZfdf[Xife gfi `eZi\d\ekf [\c \dgc\f# Zi\XZ` e [\ gl\jkfj [\ kiXYXaf# \c gf[\i j`e[`ZXc \e cX e\$ ^fZ`XZ` e jXcXi`Xc# p cX gfc k`ZX [\ `e^i\jfj [\c >fY`\ief% Cfj ZfdYljk`Yc\j kXi[Xife d}j \e _XZ\icf% :lXe[f Zfd\e$ q X _XY\i \jZXj\q# \c >fY`\ief Z\[` p \c i\XZfdf[Xd`\ekf kf$ [Xm X ef k\id`e % CXj kXi`]Xj [\ cfj j\im`Z`fj g Yc`Zfj# \e ^\e\$ iXc# j\ gf[i X [\Z`i hl\ kXdY` e j\ \eZl\ekiXe dlp i\kiXjX[Xj p kXi[\ f k\dgiXef k\id`eXi}e XZfdf[}e[fj\% @^lXcd\ek\# cfj Xld\ekfj [\ cfj jlYj`[`fj \e\i$ ^ k`Zfj \eZlYi\e Xld\ekfj% <e \c d\iZX[f Xc`d\ek`Z`f# cX gi\$ j` e [\ [\dXe[X gfi \ogXej` e [\c Zfejldf p cX ZfekiXZZ` e [\ cX f]\ikX _`Z`\ife Xld\ekXi cfj gi\Z`fj% CXj gfc k`ZXj f]`Z`Xc\j Zfekifc [\ gi\Z`fj# gif_`Y`Z` e p Zlgfj [\ \ogfikXZ` e# \kZ% `d$ gXZkXife e\^Xk`mXd\ek\ jfYi\ cX `em\ij` e \e \jkfj j\Zkfi\j p# gfi \e[\# cX f]\ikX Zi\Z` dlZ_f d\efj hl\ cX [\dXe[X% :Xie\ p c}Zk\fj jfe \c d\afi \a\dgcf% ?\pdXee1 <c Z`Zcf j\ i\Xc`$ d\ekX1 gi\Z`fj# jXcXi`fj# ZXdY`f# f]\ikX dfe\kXi`X# ^Xjkf ]`jZXc# hl\ j\ mXe i\XZfdf[Xe[f gfi

EfkX [\ kXgX

m\q% CX ml\ckX j\ [X [liXek\ cX i\XgXi`Z` e [\ leX `dgfikXek\ [\dXe[X# Zfdf gl\[\ jlZ\[\i Zfe cX ZXie\ \e \e\if f cfj k`c\j \e dXiqf% <ekfeZ\j \dg`\qX X Zl\jk`f$ eXij\ \c e`m\c [\ ]i\Zl\eZ`X [\ cfj Xaljk\j% J\ i\[lZ\ \c _fi`qfek\ [\ k`\dgf \e cfj gifp\Zkfj% ;\ XelXc gXjX X d\ejlXc# gfihl\ \o`jk\ leX dXpfi j\ej`Y`c`[X[ gXiX dfjkiXi \c ]leZ`feXd`\ekf [\ leX \Zfef$ d X X]\ZkX[X% <jkXdfj kXe c\afj [\ leX `e]cXZ` e XckX Zfdf [\ cX \jkXY`c`[X[% CX gfc k`ZX dfe\kXi`X p ]`jZXc ZfcXYfiX gXiX \ccf# gfihl\ jfe j\ Xc\j hl\ \dglaXe d}j hl\ fkiXj% CcXZ_1 El\jkif gifYc\dX pX ef \j [\ ¡gi\Z`fj i\cXk`mfj¡% D}j Xcc} [\ Xc^ e ZXjf \jg\Z ]`Zf# \c gif$ Yc\dX ef \j d`Zif j`ef dXZif2 \jkf \j# leX \Zfefd X Zfe `e\iZ`X `e]cXZ`feXi`X# \e cX hl\ \c hl\ ef XaljkX jlj gi\Z`fj# g`\i[\% 8 91 ¶<j leX Xd\eXqX i\Xc hl\ j\ ZfeZi\k\ leX \jg`iXc gi\Z`fj$jXcXi`fj# Zfe XZklXc`$ qXZ`fe\j [\ jkfj d}j [\ [fj m\Z\j Xc X f6 9\`e1 <j leX gi\^lekX gXiX cfj j`e[`ZXkfj# cfj \dgi\jXi`fj p \c >fY`\ief% 9fli1 Cfj jXcXi`fj p alY`cXZ`f$ e\j# XaljkXe[f \e le g`jf [\ )) X )+ # gifgX^Xe cX `e]cXZ` e% ;\ df[f hl\ j\ \jk} \e le \jZ\eX$ i`f [\ Xaljk\j jXcXi`Xc\j ZX[X m\q d}j ]i\Zl\ek\j d}j [\ leX m\q Xc X f # \e gXik\ Zfdf e\Z\j`[X[ [\ cfj \dgc\X[fi\j j\Zkfi g Yc`$ Zf# \e \jg\Z`Xc [\ _XZ\i ]i\ek\ X cfj `eZi\d\ekfj jfc`Z`kX[fj% Ef j\ \jg\iX le jXckf [\c k`gf [\ ZXd$ Y`f [\ `^lXc dX^e`kl[ \e )'('# cf hl\ ^\e\iXi} Zi\Z`\ek\ k\ej` e \e cfj j\Zkfi\j kiXejXYc\j% :X[f1 Ef \j Xc^f hl\ j\ gl\[X [\jZXikXi ZXk\^ i`ZXd\ek\# Xle$ hl\ ef Zfe]`^liX le \jZ\eXi`f [\ XckX gifYXY`c`[X[% CX \jZXj\q [\ \dgi\jXj \e cX 8i^\ek`eX \m`kX

++

hl\ cX \jg`iXc gifm\e^X [\c j\Z$ kfi gi`mX[f d}j gif]\j`feXc`qX$ [f j`e i\gi\j\ekXZ` e j`e[`ZXc # cX `e]fidXc`[X[ fg\iX [\ j`d`cXi dXe\iX Zfe \c j\Zkfi gi`mX[f `e]fidXc# d`\ekiXj hl\ cX Yl\eX i\cXZ` e [\c >fY`\ief Zfe ?l^f DfpXef ^XiXek`qX Z`\ikX iXZ`feX$ c`[X[ \e cfj i\ZcXdfj jXcXi`Xc\j j`e[`ZXc\j% =\ii\i\j1 :fe leX `e]cXZ` e \e Xld\ekf# cXj \o`^\eZ`Xj jXcXi`X$ c\j kXdY` e j\ `eZi\d\ekXe `e$ k\ekXe[f jfjk\e\i \c jXcXi`f i\Xc% J`e \dYXi^f# [X[f hl\ cfj jXcX$ i`fj jfe leX gXik\ `dgfikXek\ [\ cfj Zfjkfj [\ cXj \dgi\jXj# jkXj kiXjcX[Xe gXik\ [\ cfj `eZi\d\e$ kfj X cfj gi\Z`fj% <ek\e[\dfj hl\ d`\ekiXj cX `e]cXZ` e j\ lY`$ hl\ \e kfief Xc )) gXiX ]`e [\ X f# cX XZklXc`qXZ` e jXcXi`Xc ef [\Y\i X i\g\k`ij\ [liXek\ \c X f% =i`^\i`f1 CX `e]cXZ` e XelXc [\ \e\if )'(' jlg\iX Xc (. p j\ \jg\iX le `eZi\d\ekf [\ gi\$ Z`fj dXpfi Xc )) gXiX \c X f% <j `dgi\jZ`e[`Yc\ XkXZXi cXj \og\Z$ kXk`mXj [\ `e]cXZ` e gXiX hl\ \c Xld\ekf [\c e`m\c ^\e\iXc [\ gi\$ Z`fj j\ i\[lqZX% Gfi \c ZfekiXi`f# j` ef j\ i\[lZ\e cXj \og\ZkXk`mXj [\ `e]cXZ` e# \c i`kdf [\ Xld\ekf [\c e`m\c ^\e\iXc [\ gi\Z`fj ef Z\$ [\i}% <j d}j# _Xp i`\j^fj hl\ \c `eZi\d\ekf [\ gi\Z`fj fYj\imX$ [f jlg\i\ cX `e]cXZ` e \jg\iX[X% <e \jk\ dXiZf# j\ ^\e\iXi}e \o$ g\ZkXk`mXj e\^Xk`mXj p gf[i X _X$ Y\i el\mfj i\ZcXdfj jXcXi`Xc\j% ?\pdXee1 <c ]\e d\ef \j dXZif# gfihl\ j\ i\XZfdf[X le Zfealekf [\ Xld\ekfj# ZX[X lef ZXljX [\ ZX[X lef \e gXik`ZlcXi% ;\ki}j [\ \jkX il\[X# _Xp leX _`jkfi`X i\[`jki`Ylk`mX% Cfj gi\$ Z`fj i\cXk`mfj j\ XZfdf[Xe# cf d`jdf cX ZXek`[X[ [\ dfe\[X# \c YXcXeZ\ ]`jZXc% <j cX `dX^\e [\c Zfe]c`Zkf Xi^\ek`ef% <jkX m\q# cX f]\ikX [\ [`m`jXj \j XYle[Xek\ p \jf ZXcdX cfj e\im`fj% <jk}e \e al\^f cfj XgXiXkfj1 gi\Z`fj i\cXk`$

mfj m\ijlj jlYj`[`fj% CcXZ_1 <jkXdfj \e \c c d`k\% ?XjkX )' gl\[\ jfjk\e\ij\ ÈXkX[f Zfe XcXdYi\É% D}j Xcc}# cX \jg`iXc`qXZ` e \j gfj`Yc\% Kf[Xm X d\ gXi\Z\ le \jZ\eXi`f [\ YXaX gifYXY`c`[X[% 8 91 <c ljf [\ i\j\imXj p \c ZXea\ [\ cX [\l[X ¶X^i\^Xi}e d}j gi\j` e `eÕXZ`feXi`X gfi \c cX[f dfe\kXi`f6 9\`e1 J` _Xp ]fe[f [\c 9`Z\ek\$ eXi`f f Xc^f hl\ cf i\\dgcXZ\ p j\ lk`c`qX j cf gXiX gX^Xi [\l[X \e [ cXi\j# \c \]\Zkf dfe\kXi`f \j Z\if% J` j\ lk`c`qX gXiX \ogXe[`i \c ^Xjkf \e g\jfj# X^i\^X gi\j` e gfi m X [\ cX \ogXej` e ]`jZXc% 9fli1 <c fYa\k`mf \j ]`jZXc Æd}j Xcc} [\ cX aljk`]`ZXZ` e [\ fg\iXi Zfdf ZfcXk\iXc [\ cfj j\im`Z`fj [\ [\l[XÆ# pX hl\ g\id`k\ ]`eXeZ`Xi leX \ogXej` e X e dXpfi [\c ^Xjkf g Yc`Zf \e cfj ck`dfj [fj X fj [\ cX XZklXc X[d`e`jkiXZ` e% :fe \ccf Xld\ekXi X \c [\j\hl`$ c`Yi`f X^i\^X[f% 8 e j` leX gXi$ k\ [\ cfj ]fe[fj j\ [\jk`eXiXe X `em\ij` e `e]iX\jkilZkliX # \e \c Zfikf gcXqf \ccf gi\j`feXi X jf$ Yi\ cX [\dXe[X p \e ZlXchl`\i ZXjf j\ k\e[i X dXpfi `e]cXZ` e% <j gifYXYc\ hl\ \c >fY`\ief Zi\X hl\ Zfe [\Z`i hl\ j\ ^XiXek`qXi} \c gX^f [\ [\l[X Zfe i\j\imXj f hl\ j\ i\XYi`i} \c ZXea\# j\ i\jkX$ Yc\Z\i}e cXj Zfe[`Z`fe\j [\ Zi\$ [`Y`c`[X[ ]`eXeZ`\iX% :X[f1 Dfe\kXi`f f ]`jZXc% CX i\Z`\ek\ Zi`j`j [\c 9:I8 ^\e\i `eZ\ik`[ldYi\ \e ZlXekf X cX j\$ gXiXZ` e [\ \jkfj [fj ZfeZ\gkfj% :i\f hl\ \jk\ ck`df glekf \j \c d}j g\c`^ifjf gfi jl `dgXZkf \e cXj \og\ZkXk`mXj Xc k\e\i \jkXj# _fp# leX i\c\mXeZ`X dlp `dgfi$ kXek\ \e cX \mfclZ` e [\ cfj gi\$ Z`fj% D}j Xcc} [\ \jkf ck`df# cX _XY`c`kXZ` e X [`jgfe\i [\ i\j\i$ mXj ^XiXek`qX cX Zfek`el`[X[ [\ cX XZklXc gfc k`ZX ]`jZXc# cX d`jdX hl\ [\j\dYfZ \e leX `e]cXZ` e

EfkX [\ kXgX

[\ ), XelXc Xcc} gfi )''/% J`e [l[Xj hl\ \j leX d\[`[X `e]cX$ Z`feXi`X% =\ii\i\j1 CX gi\j`Â?e Ă”jZXc df$ e\kXi`X [\ cX `eĂ•XZ`Â?e \jk} [X[X gfi le \oZ\j`mf ^Xjkf gÂ’Yc`Zf Zfejfc`$ [X[f EXZ`Â?e# Gifm`eZ`Xj# Dle`Z`$ g`fj# =fe[fj Ă”[lZ`Xi`fj# :lgÂ?e [\c G9@ # hl\ j\ lY`ZX \e kfief Xc +, [\c G@9% <c Zi\Z`d`\ekf [\c ^Xjkf gÂ’Yc`Zf gfi \eZ`dX [\c `eZi\d\ekf [\ cfj `e^i\jfj ^\e\iX leX gi\j`Â?e _XZ`X cfj gi\Z`fj gfihl\ j\ ml\c$ ZXe d}j g\jfj X cX \ZfefdˆX% <e \jk\ j\ek`[f# cX _XY`c`kXZ`Â?e [\c ljf [\ i\j\imXj gXiX gX^Xi [\l[X c`Y\$ iX cfj ]fe[fj pX gi\jlgl\jkX[fj gXiX kXc Ă”e# hl\ j\i}e mfcZX[fj X cX \ZfefdˆX YXaf cX ]fidX [\ ^Xjkf gÂ’Yc`Zf% 8c k`gf [\ ZXdY`f [\ _fp# \c ]fe[f _lY`\j\ j`[f [\ Xgifo`dX$ [Xd\ek\ ),%,'' D# Xdgc`Xe[f le )( cX YXj\ dfe\kXi`X% =i`^\i`f1 <c ljf [\ i\j\imXj p \c ZXea\ [\ [\l[X k\e[i}e \]\Zkfj `eĂ•XZ`feXi`fj j` ef k`\e\e \]\Zkf dfe\kXi`f e\lkif% GleklXcd\ek\# j` \c ZXea\ [\ [\l[X ^\e\iX le `e$ ^i\jf Ăˆ]i\jZfÉ [\ [Â?cXi\j gXiX \c ^fY`\ief p [`Z_f [`e\if \j lk`c`qX[f gXiX Ă”eXeZ`Xi `eZi\d\ekfj [\ ^Xj$ kf gÂ’Yc`Zf# \ekfeZ\j _XYi} \]\Zkfj dfe\kXi`fj \c j\Zkfi gÂ’Yc`Zf c\ k`\$ e\ hl\ m\e[\i Xc 9:I8 cfj [Â?cXi\j X ZXdY`f [\ \d`j`Â?e [\ g\jfj p \c ZXea\ Zfeki`Yl`iˆX X XZ\c\iXi \c i`kdf [\c `eZi\d\ekf [\ cfj gi\Z`fj% J` cfj [Â?cXi\j [\c ljf g\id`k`[f [\ i\j\i$ mXj j\ lk`c`qXe gXiX gX^Xi [\l[X Xc \ok\i`fi# \ekfeZ\j ef Xc`d\ekXi}e cX `eĂ•XZ`Â?e% ?\pdXee1 @dgc`ZX Xgifm\$ Z_XicXj gXiX ]`eXeZ`Xij\1 ÂśZfd$ gXiXe[f Zfe hl„6 <d`k`i ZlXe[f _Xp i\Zlg\iXZ`Â?e% 8c _XY\i d}j XZk`m`[X[# d\afiXi} \c `e^i\jf ]`j$ ZXc p cX `[\X gl\[\ j\i ^lXi[Xicf gXiX ZlXe[f YXa\ \c jlg\i}m`k# f j\X hl\ ]leZ`fe\ Zfdf ]fe[f Xe$ k`ZˆZc`Zf% CcXZ_1 Ef e\Z\jXi`Xd\ek\% CX d\[`[X d}j Zfdgc\kX [\ cX gfcˆk`ZX Ă”jZXc \j \c e`m\c [\ [„ÔZ`k f jlg\i}$ m`k# p Xccˆ ef i\j`[\ cX XefidXc`[X[ Xi^\ek`eX# hl\ k`\e\ le g\hl\ÂŒf

+-

[„ÔZ`k% J` \jklm`\iX XZfdgXÂŒX[f gfi leX gfcˆk`ZX Ă”jZXc iXqfeXYc\ le g\hl\ÂŒf [„ÔZ`k f jlg\i}m`k p Xpl[XiX X i\jfcm\i \c gifYc\dX [\ cX [\l[X `dgX^X# d\ gXi\Z\ leX d\[`[X iXqfeXYc\% <e gi`eZ`g`f# ef k`\e\ dlZ_f hl\ m\i Zfe cX `eĂ•X$ Z`Â?e# e` X ]Xmfi e` \e ZfekiX# jXcmf \e cX d\[`[X \e hl\ ^\e\i\ dXpfi ZfeĂ”XeqX p i\XZk`mXZ`Â?e# cf ZlXc ef \jkXiˆX dXc% CX `eĂ•XZ`Â?e gXjX gfi fkif cX[f% Cfj XZk`mfj# cX ]l^X [\ ZXg`kX$ c\j p \c [Â?cXi 8 91 ÂśHl„ mX X gXjXi Zfe cfj XZk`mfj Ă”eXeZ`\ifj \e ZlXekf \c i`kdf [\ Zi\Z`d`\ekf [\ cfj gi\Z`fj d}j hl\ [lgc`hl\ cX kXjX [\ ZXdY`f6 9\`e1 D`\ekiXj cfj d\iZX[fj ]`eXeZ`\ifj m\Xe hl\ cX 8i^\e$ k`eX k`\e\ \oZ\jf \jkilZkliXc [\ [Â?cXi\j mˆX le jlg\i}m`k Zfd\i$ Z`Xc gifp\ZkX[f gXiX \jk\ XÂŒf \e LJ;(/%''' d`ccfe\j# cX kXjX [\ `ek\i„j [\ cfj gcXqfj ]`afj gl\[\ dXe\aXij\ Zfej`jk\ek\d\ek\ gfi [\YXaf [\ cX kXjX [\ `e]cXZ`Â?e% 9fli1 CXj gfcˆk`ZXj [\ ĂˆXkiXjf ZXdY`Xi`fÉ ef jl\c\e k\id`eXi Y`\e1 gXiX \m`kXi \c Xaljk\ mˆX leX [\mXclXZ`Â?e d}j f d\efj `dgfikXek\# j\ i\hl`\i\ k\e\i ZX$

gXZ`[X[ gXiX [\]cXZ`feXi ?fe^ Bfe^ f gXiX `ek\ekXi leX gfcˆk`ZX ^iX[lXc`jkX hl\ gl\[\ i\hl\i`i dlZ_f k`\dgf p gf[\i gfcˆk`Zf% J` j\ `ek\ekX XkiXjXi \c g\jf _Xj$ kX ]`eXc\j [\ )'((# \c gifYc\dX j\ X^iXmXi}# [X[f hl\ \c d\iZX[f [\jZfekXi} cX [\mXclXZ`Â?e \e le \jZ\eXi`f [\ Zi\Z`\ek\ [\Y`c`[X[ gfcˆk`ZX% :X[f1 GifYXYc\d\ek\ cfj `em\i$ jfi\j Zfd`\eZ\e X mfcZXij\ d}j _XZ`X kˆklcfj efd`eX[fj \e [Â?cX$ i\j% Ef j\ jfjk`\e\ leX `eĂ•XZ`Â?e \mfclZ`feXe[f X leX m\cfZ`[X[ [\ ), XelXc# Zfe le k`gf [\ ZXdY`f hl\ cf _XZ\ X d\efj [\ (' % =\ii\i\j1 <c `eZi\d\ekf [\ cX `e]cXZ`Â?e# X[\d}j [\ cXj ZcXiXj Zfej\Zl\eZ`Xj jfZ`Xc\j hl\ Zfe$ cc\mX# \okiXp\e[f \c gf[\i [\ Zfd$ giX jfYi\ kf[f [\ cfj j\Zkfi\j [\ YXafj i\Zlijfj# i\[lZ\ cX kXjX [\ `ek\i„j i\Xc% 8jˆ# j\ [\jXc`\ekX \c X_fiif# Xc k`\dgf hl\ j\ Xc`\ekX \c Zfejldf% ;\ kf[Xj ]fidXj# gfi \c dfd\ekf cXj dXpfi\j \og\ZkXk`$ mXj [\ `e]cXZ`Â?e ef cc\mXife X leX ZXˆ[X [\ cfj [\gÂ?j`kfj X gcXqf ]`af l fkif k`gf [\ `em\ij`fe\j ]`eXe$ Z`\iXj Zfdle\j% =i`^\i`f1 J` cX `eĂ•XZ`Â?e [lgc`ZXiX cX [\gi\Z`XZ`Â?e [\c k`gf [\ ZXdY`f# j\ ^\e\iXiˆX leX `dgfikXek\ g„i[`$

EfkX [\ kXgX

[X [\ gifk\ZZ` e p [\ Zfdg\k`k`m`$ [X[ \e el\jkiX \Zfefd X% <e \jk\ dXiZf# cX kXjX [\ Zi\Z`d`\ekf [\ cX \Zfefd X j\ i\[lZ`i X p \c gf[\i X[hl`j`k`mf [\c j\Zkfi g Yc`Zf m X i\k\eZ`fe\j [`jd`el`i X% <c ]i\ek\ ÔjZXc j\ [\k\i`fiXi X X e d}j p cfj gi\Z`fj i\e[`d`\ekfj [\ cfj Yfefj YXaXi Xe jlY`i Xe % <e \jk\ dXiZf# \o`jk`i X cX gifYXY`c`[X[ hl\ cfj `e$ m\ijfi\j m\e[`\iXe dXj`mXd\ek\ cfj XZk`mfj Xi^\ek`efj# cf ZlXc ^\e\$ iXi X le [\jgcfd\ [\ jlj Zfk`qXZ`f$ e\j% <jkX gifYXY`c`[X[ jlY`i X j` cX I\j\imX =\[\iXc [\ <<LL Zfd\e$ qXiX X jlY`i jl kXjX [\ i\]\i\eZ`X p \c Xg\k`kf gfi \c i`\j^f \d\i^\ek\ [`jd`elp\iX \e \c d\iZX[f `ek\ieX$ Z`feXc% ?\pdXee1 <jk\ X f# Zfdf cfj `e[`ZX[fi\j mXe X \jkXi gXiX Xii`$ YX# mX X _XY\i d}j _fc^liX ÔjZXc p \c 9XeZf :\ekiXc ÔeXeZ`Xi} Xc >fY`\ief ljXe[f cfj [ cXi\j [\ cXj i\j\imXj% Cfj m\e[\ X cfj gXi$ k`ZlcXi\j p i\kfieXe cfj g\jfj gXiX \eki\^Xic\ Xc K\jfif% <c ÔeXeZ`Xd`\ekf Xc >fY`\ief `d$

+/

gc`ZX leX kiXej]\i\eZ`X [\c `dgl\jkf `eÕXZ`feXi`f% <e i\Zlg\iXZ` e \Zf$ e d`ZX# cX j\ Xc j\i X hl\ ef [\Y\i X k\e\i \]\Zkf ÔjZXc% G\if j\ _X ]fd\e$ kX[f \c XZfikXd`\ekf [\c _fi`qfek\1 X_fiX pX [`jZlk`dfj \c Zfikf gcXqf% Ef \jk}YXdfj XZfjkldYiX[fj Xc )' XelXc [\ `eÕXZ` e g\ij`jk\ek\# cf ZlXc \eZ`\e[\ cXj clZ\j XdXi`ccXj% FYc`^X X XeXc`qXi cX dXZif\Zfefd X \e \c Zfikf gcXqf gfi \c Zi\Z`d`\ekf j`jk\d}k`Zf [\ cfj gi\Z`fj% CcXZ_1 8_ \jk} lef [\ cfj gi`e$ Z`gXc\j [\jX] fj gXiX cX el\mX Zfe$ [lZZ` e [\c 9XeZf :\ekiXc% CX kXjX [\ [\mXclXZ` e gl\[\ j\i d\efi hl\ cX `eÕXZ` e# g\if ef [\dXj`X$ [f% ?Xp hl\ ZXd`eXi gfi \c Ôcf [\ leX eXmXaX# \eki\ cfj gi\Z`g`Z`fj [\c XkiXjf ZXdY`Xi`f i\Z\j`mf p \c ZiXnc`e^ g\^ d\^X`eÕXZ`feXi`f% 8 91 ¶Gl\[\ i\Xel[Xij\ \c Z`Zcf [\ ]l^X [\ ZXg`kXc\j# Xk\e$ [`\e[f X hl\ ef XgXi\Z\ Zfe le _fi`qfek\ ZcXif cX i\Zlg\iXZ` e ÔeXeZ`\iX dle[`Xc6 9\`e1 Le \jZ\eXi`f [\ ]l^X [\

ZXg`kXc\j k`\e\ d}j hl\ m\i \e cX 8i^\ek`eX Zfe cX gfc k`ZX hl\ Zfe cX \Zfefd X% J` \c d\iZX[f m\ Xc >fY`\ief p cX fgfj`Z` e ki\eqX$ [fj \e le al\^f [\ jldX Z\if gXiX g\ial[`ZXij\ p kiXYXij\ dl$ klXd\ek\# cfj ZXg`kXc\j j\ mXe X dXek\e\i ZcXiXd\ek\ X cX \og\Z$ kXk`mX# \jg\iXe[f le g\i f[f [\ dXpfi kiXehl`c`[X[% 9fli1 ?XZ`X \c ZlXikf ki`d\j$ ki\ [\ )''0 j\ _XY X i\[lZ`[f j`^e`]`ZXk`mXd\ek\ cX ]l^X [\ ZX$ g`kXc\j# hl\ mfcm` X XZ\c\iXij\ \e cfj gi`d\ifj d\j\j [\ )'('# kXekf gfi `eZ\ik`[ldYi\ \ok\ieX Zfdf gfi cXj [l[Xj XZ\iZX [\c gifZ\jf [\ ZXea\# \c \g`jf[`f [\c 9XeZf :\ekiXc# p cX XZ\c\iXZ` e `e]cXZ`feXi`X% <c \jZ\eXi`f XZklXc [\ XZ\c\iXZ` e `e]cXZ`feXi`X Zfe$ m\i^\ X leX g\idXe\ek\ jXc`[X [\ ZXg`kXc\j# cf hl\ [\k\id`eXi} leX ZfekiXZZ` e i\Xc [\ cXj [`j$ gfe`Y`c`[X[\j [\ ]`eXeZ`Xd`\ekf [fd jk`Zf% :X[f1 <ek`\e[f \jkXdfj ccXdXe$ [f ]l^X [\ ZXg`kXc\j X le Zfek\okf

j`d`cXi Xc [\ )''/# [fe[\ \e i\Xc`$ [X[ j\ XZ\c\iÂ? cX jXc`[X [\ ZXg`kXc\j gfi jfYi\ cfj e`m\c\j hl\ gf[\dfj Zfej`[\iXi efidXc\j gXiX cX ZlckliX Xi^\ek`eX% <e \jk\ j\ek`[f# cX i\j$ gl\jkX \j ef# gfi cf d\efj \e gi`e$ Z`g`f% <jk\ XÂŒf mX X _XY\i XYle[Xe$ Z`X [\ [Â?cXi\j jXc[f Zfd\iZ`Xc \e kfief X lefj LJ (,%''' d`ccfe\j# jXc[f [\ Zl\ekX Zfii`\ek\ [\ lefj LJ -%''' d`ccfe\j Zfe cf ZlXc# \e gi`eZ`g`f# ef j\ \jg\iXiˆXe Xalj$ k\j YiljZfj [\c k`gf [\ ZXdY`f# cf hl\ \m`kXiˆX leX \jkXdg`[X _XZ`X \c [Â?cXi% @e[\g\e[`\ek\d\ek\ [\ \jkf Â’ck`df# kf[XmˆX g\ij`jk\ Z`\ikX mfcXk`$ c`[X[ \e cfj d\iZX[fj ^cfYXc\j p# cX \og\i`\eZ`X [\ cfj Â’ck`dfj [fj XÂŒfj# dl\jkiX hl\ j`\dgi\ \o`jk\ cX gfj`$ Y`c`[X[ hl\ \c >fY`\ief kfd\ d\[`$ [Xj hl\ gl\[Xe ^\e\iXi ZfplekliXj [\c`ZX[Xj% El\mXd\ek\# ef \j le \j$ Z\eXi`f hl\ Zfej`[\iXdfj i\c\mXe$ k\# g\if ef gl\[\ [\jZXikXij\% =i`^\i`f1 CX ]l^X [\ ZXg`kXc\j \j p _X j`[f leX [\ cXj gi`eZ`gXc\j Xd\eXqXj hl\ Xii\d\k\ ZfekiX cX \ZfefdˆX cfZXc% J` Y`\e j\ \jg\iX leX ZfejkXek\ \ekiX[X [\ [`m`jXj mˆX jlg\i}m`k Zfd\iZ`Xc# cfj [fj ]XZ$ kfi\j hl\ gf[iˆXe i\Ă•fkXi cX ]l^X [\ ZXg`kXc\j j\iˆXe cX `eĂ•XZ`Â?e p cX Xgi\$ Z`XZ`Â?e [\c [Â?cXi \e \c dle[f% Gfi le cX[f# cX g„i[`[X [\ mXcfi [\c g\jf \e k„id`efj [\ Y`\e\j hl\ \j cX Zfe$ kiXZXiX [\ cX `eĂ•XZ`Â?e _XZ\ hl\ cfj X^\ek\j \ZfeÂ?d`Zfj i\[lqZXe jl gi\]\i\eZ`X gfi cX c`hl`[\q# hl\ [`j$ d`elpX cX [\dXe[X [\ [`e\if p hl\ Xld\ek\ cX [\dXe[X [\ [`m`jXj% 8 jl m\q# j` cX =<; [\Z`[\ Xld\ekXi cXj kXjXj [\ `ek\i„j Zfdf m`\e\ [`Z`\e$ [f \e cfj Â’ck`dfj Zfdle`ZX[fj # \j gifYXYc\ hl\ cX jlYX [\ kXjXj mXpX XZfdgXÂŒX[X [\ leX Xgi\Z`XZ`Â?e [\c [Â?cXi \e \c dle[f# cf hl\ ^\e\iXiˆX gi\j`fe\j X[`Z`feXc\j ZfekiX \c g\jf gfi cXj \og\ZkXk`mXj [\ [\mXclXZ`Â?e% =\ii\i\j1 CX ZXcdX Ă”eXeZ`\iX [\c Â’ck`df ki`d\jki\ [\ )''0 j\ ifdg`Â? kiXj \c ZfeĂ•`Zkf \eki\ \c ^f$ Y`\ief p DXikˆe I\[iX[f Zfdf gi\$ j`[\ek\ [\c 9:I8% <e \jk\ j\ek`[f# \e ]\Yi\if Zfd\eqÂ? X \m`[\eZ`Xij\ le gifZ\jf [\ dXpfi gi\j`Â?e _XZ`X

\c [Â?cXi# X kiXm„j [\ cX jXc`[X [\ ZX$ g`kXc\j% J` Y`\e \c 9:I8 [\j`eZ\e$ k`mX \jk\ gifZ\jf fg\iXe[f Zfe [Â?cXi ]lklif# cX gi\j`Â?e ZXdY`Xi`X gif[lZkf [\ cX `eZ\ik`[ldYi\ kXe$ kf \e \c gcXef gfcˆk`Zf Zfdf \ZfeÂ?$ d`Zf Zfd\eqÂ?% ?\pdXee1 <c i\jlckX[f [\c Zfd$ gfikXd`\ekf [\ cX kXjX [\ ZXdY`f p cfj gcXqfj Ă”afj# ZfdgXiX[f Zfe cfj gi\Z`fj [\ cfj Y`\e\j# [\k\i$ d`eXi} j` j\ \c`^\ \c [Â?cXi Zfdf i\]l^`f% 8c^f Xjˆ Zfdf [\Z`[`i j` Zfem`\e\e fkifj XZk`mfj f \c [Â?cXi# Zfe]fid\ X gfe[\iXZ`fe\j Zfdf cX [\mXclXZ`Â?e Zfek\e`[X# cXj i\$ j\imXj# \c jlg\i}m`k Zfd\iZ`Xc p cX kXjX [\ `ek\i„j% <c 9XeZf :\ekiXc ZfekifcX \jXj fgZ`fe\j Zfe \c k`gf [\ ZXdY`f YXaf p cX m\ekX [\ [Â?cX$ i\j Xc j\Zkfi gi`mX[f% CcXZ_1 Ef ccXdXiˆX ]l^X [\ ZX$ g`kXc\j X cX `em\k\iX[X gi}Zk`ZX eXZ`feXc [\ ^lXi[Xi \c /' [\ el\jkiX i`hl\qX ]`eXeZ`\iX \e [Â?cXi\j% J` el\jkifj `e^i\jfj jl$ g\iXe X el\jkifj ^Xjkfj \e (' d`c d`ccfe\j [\ [Â?cXi\j $\jkf \j# k\e\dfj le jlg\i}m`k [\ Zl\ekX Zfii`\ek\$ ^lXi[Xi \c /' \e [Â?$ cXi\j \j cX ZfjkldYi\ eXZ`feXc% <e le Zfek\okf [\ XckX `eĂ•X$ Z`Â?e# Âśj\^l`i} j`\e[f \c [Â?cXi cX i\]\i\eZ`X ZXdY`Xi`X f gXjX$ i} X j\i \c i\Xc6 9\`e1 J`\dgi\ cX d\afi i\]\$ i\eZ`X ZXdY`Xi`X gXiX \mXclXi cX Zfdg\k`k`m`[X[ [\ cX \ZfefdˆX# \j [\Z`i Xhl\ccX gXik\ [\ cX Zfd$ g\k`k`m`[X[ hl\ k`\e\ hl\ m\i Zfe \c k`gf [\ ZXdY`f# \j \c k`gf [\ ZXdY`f i\Xc dlck`cXk\iXc% ?fp \j\ k`gf [\ ZXdY`f# m`j X m`j \c ( X ( [\ cX jXc`[X [\ cX :fem\ik`Y`c`[X[ \jk} \e leX gXi`[X[ [\ ) X (% <jk} ZcXif hl\ kf[XmˆX k`\e\ ZfcZ_Â?e# jXcmf hl\ m\Xdfj leX [\mXclX$ Z`Â?e XYilgkX \e 9iXj`c# Xc^f hl\ _fp ef \jk} X cX m`jkX% 9fli1 <e XckX `e]cXZ`Â?e# cX ef$ d`eXc`[X[ \jk} XkX[X Xc [Â?cXi2 \j XckXd\ek\ `dgifYXYc\ hl\ cX i\$ ]\i\eZ`X j\X \c i\Xc# \e gXik\ gfi$ hl\ ef \j dfe\[X [\ Z`iZlcXZ`Â?e# \e gXik\ gfihl\ kXdY`„e j\i} \e

\c dXi^\e X]\ZkX[f gfi cfj [\j$ \hl`c`Yi`fj \e cX 8i^\ek`eX% :X[f1 <e \c _le[`d`\ekf [\c K`$ kXe`Z# ZlXe[f cX ^\ek\ [\j\jg\iXYX gfi le cl^Xi \e cfj Yfk\j jXcmXm`$ [Xj# cfj jfYfiefj ef \iXe e` \e [`X$ dXek\j# e` \e ilYˆ\j# e` \e fif# e` \e gcXkX% <iXe \e [�cXi\j% :fefZ`[fj# `eZfe]le[`Yc\j# ]Xd`c`Xi\j# j\^lifj% 8lehl\ \c i\Xc j\X leX Xck\ieXk`mX [\ `em\ij`�e `ek\i\jXek\# \c i\j^lXi[f [\ mXcfi j`^l\ p j\^l`i} j`\e[f gfi dlZ_f k`\dgf \c [�cXi% =i`^\i`f1 CX i\]\i\eZ`X j\^l`i} j`\e[f \c [�cXi% <e \jk\ j\ek`[f# _Xp hl\ g\ejXi hl\ kf[fj cfj YXeZfj Z\ekiXc\j [\c dle[f k`\$ e\e jlj i\j\imXj dXpfid\ek\ Xk\jfiX[Xj \e [�cXi\j% Gfi \e[\# X eX[`\ c\ Zfem`\e\ hl\ \c [�cXi [\a\ [\ j\i i\]\i\eZ`X% ?fp \e [ˆX# Zfe cX XZklXc \jkilZkliX [\ cfj d\iZX[fj `ek\ieXZ`feXc\j# j` \c [�cXi [\aXiX [\ j\i i\]\i\eZ`X# kf$ [fj cfj XZk`mfj j\ [\jgcfdXiˆXe p \c dle[f \ekiXiˆX \e leX Zi`j`j dlZ_f d}j m`ilc\ekX hl\ cX hl\ j\ `e`Z`� Zfe cX ZXˆ[X [\ C\_dXe 9ifk_\ij% <j d}j# j` cX I\j\imX =\[\iXc [\ <<%LL% Xld\ekXiX jl kXjX [\ i\]\i\eZ`X p cfj gifYc\$ dXj ]`jZXc\j [\ Xc^lefj gXˆj\j \lifg\fj >i\Z`X# <jgXŒX# Gfi$ kl^Xc# \kZ% ef Zfd\eqXiXe X i\$ [lZ`ij\# cX [`m`jX efik\Xd\i`ZXeX ^XeXiˆX k\ii\ef ]i\ek\ Xc \lif% =\ii\i\j1 G\j\ X hl\ \c gi`eZ`$ gXc jfZ`f Zfd\iZ`Xc [\ cX 8i^\e$ k`eX \j 9iXj`c# \c [�cXi \j cX i\]\$ i\eZ`X ZXdY`Xi`X hl\ k\e\dfj \e d\ek\ cfj Xi^\ek`efj p \jf ef gXi\Z\ hl\ mXpX X ZXdY`Xi% ?\pdXee1 GXiX j\i XckX# ]XckX% @^lXc cXj kiXej`Z`fe\j [\ ZXik\$ iXj jfe c\ekXj p \c [�cXi j`^l\ k\e`\e[f cXj gi\]\i\eZ`Xj% <c i\Xc \jk} m`eZlcX[f X cX gfcˆk`ZX [\ j\$ d`]cfkXZ`�e hl\ Xgc`ZX 9iXj`c gfi iXqfe\j `ek\ieXj# Zfdf cXj Zf$ d\iZ`Xc\j p \c dfm`d`\ekf [\ cfj ZXg`kXc\j% CcXZ_1 J\^l`i} j`\e[f \c [�cXi% CXj i\^cXj [\ ki\j Zfdgl\jkXj jfe dlp Zfdgc`ZX[Xj gXiX \c ^iXe g’Yc`Zf%

+0

I\Xc <jkXk\

)'(' p le d\iZX[f `edfY`c`Xi`f d}j fi[\eX[f Cfj cX[i`ccfj jfe \c\^`[fj Zfdf cX `em\ij`�e d}j j\^liX# j`e \dYXi^f# \c Zi„[`kf j`^l\ ]i\eX[f2 Zfe cXj Zi`j`j \e \c ZXd`ef# j\ m\ leX jlXm\ k\e[\eZ`X XcZ`jkX gXiX \jk\ XŒf Afj„ 8qg`ifq :fjkX ;`i\Zkfi [\ @edfY`c`Xi`X 9lcci`Z_

?

XZ\ lefj [ˆXj le `dgfikXek\ gfikXc _`qf leX \eZl\jkX Zfe cX Zfej`^eX ĂˆÂśZl}c \j cX `em\i$ j`Â?e d}j j\^liX \e cX 8i^\ek`eX6É% <c -' \c`^`Â? cX ZfdgiX [\ le `edl\$ Yc\% CX ZfdgiX [\ dfe\[X# kf[f k`gf [\ Zfddf[`k`\j# \kZ# m\eˆXe dlp Xki}j% 8 glekf kXc hl\ cX fgZ`Â?e hl\ d}j j\ XZ\iZÂ? \jkXYX X d}j [\ le ,' [\YXaf [\ cX \c\ZZ`Â?e Xii`YX d\eZ`feX[X% 8c^f j`^e`Ă”ZX% ;\ \jk\ gi`d\i Y`d\jki\ [\c XÂŒf# cX ZfeZclj`Â?e `e[`ZX hl\ j\ _Xe _\Z_f le )' d}j fg\iXZ`fe\j i\jg\Zkf Xc d`jdf Y`d\jki\ [\c XÂŒf gXjX[f% J`e \dYXi^f# cfj Zi„[`kfj j`^l\e X le ZlXikf [\ d}hl`eX# j`\e[f fgk`$ d`jkX% GfZfj YXeZfj gi\jkXe% CXj kX$ jXj jfe XckXj% <j [`]ˆZ`c Zfej\^l`icfj% GXiX ZfdgiXi le [\gXikXd\e$ kf [\ ki\j XdY`\ek\j e\Z\j`kXdfj j\j\ekX -' jl\c[fj% <e cfj 0'Ă‹# cf _XZˆXdfj Zfe d\efj [\ cX d`kX[% J\ \jZi`kliXYXe Zfe _`gfk\ZXj ZXj` le *) [\ cXj gifg`\[X[\j% ?fp# Xg\eXj gXjXdfj \c , % <e ^iXe[\j kiXqfj# cfj jXcXi`fj \jk}e i\qX^X[fj le *' p cXj gifg`\[X[\j _Xe jlY`$ [f i\jg\Zkf X Xhl\ccfj XÂŒfj le +' % J`\dgi\ \e [Â?cXi\j% Ef XYif al`Z`f j`

,'

CXj m`m`\e[Xj d}j [\dXe[X[Xj jfe cXj [\ ]iXeaX dlp XckX p d\[`X

\jk} Y`\e Â? dXc% Ef [\Y\dfj fcm`[Xi hl\ cX Zfem\ik`Y`c`[X[# gfi cf hl\ ]l\$ iX# \jkXccÂ?% G\if _Xp leX j\hlˆX Zi\[`$ k`Z`X [\dXj`X[f ^iXe[\% D`\ekiXj kXekf# cX `eĂ•XZ`Â?e ^fcg\X X cfj `ejldfj Zfe le \jk`dX[f# gXiX \c d\j [\ \e\if# [\ *%) % J` ZXcZlcX$ dfj hl\# gfi ZX[X d) Zfejkil`[f# le ,) \j dXef [\ fYiX# p cXj gX$ i`kXi`Xj \jk}e Xc ZX\iÂż\c gifeÂ?jk`Zf ef \j ]\c`q% M`m`\e[X# cfZXc\j p fĂ”Z`eXj <e cf hl\ X [\gXikXd\ekfj i\j$ g\ZkX# \c d\iZX[f \jk} [\dXe[X[f \e cX ]iXeaX dlp XckX p \e cX d\[`X% CXj qfeXj d}j i\hl\i`[Xj jfe 9X$ ii`f Efik\# I\Zfc\kX# \c Zfii\[fi [\ 8m% [\c C`Y\ikX[fi# :XYXcc`kf# M`ccX Li$ hl`qX p 9\c^iXef% <c d) \e cl^Xi\j gi\d`le gl\[\ gXjXi cfj L J ,%'''% ?XYcXe[f [\ gifd\[`f# pX gXjXdfj cfj L J )-''% <e ZlXekf X le`[X[\j ljX[Xj# cÂ?$ ^`ZXd\ek\# cfj gi\Z`fj jfe d\efi\j% G\if j` [\j\Xdfj m`m`i \e le cl^Xi

dlp Yl\ef Æ8m[X% 8cm\Xi# Z\iZX [\ cX \dYXaX[X [\ >iXe 9i\kXÂŒX# GX$ c\idf :_`Zf# 9Xii`f GXihl\# GcXqX M`Z\ek\ CÂ?g\qÆ cfj gi\Z`fj jfe Xckfj% Le Yl\e d) \e cfj d\afi\j cl^Xi\j j`\e[f le \[`Ă”Z`f [\ a\iXihlˆX gl\$ [\ mXc\i L J +%'''% Jfe [\gXikX$ d\ekfj hl\ ef j\ i\g`k\e% P\e[f X cXj le`[X[\j Z_`ZXj# le [fj XdY`\ek\j mXc\ L J 0'%'''2 ki\j XdY`\ek\j# L J ()'%'''2 Zfe [\g\e[\eZ`Xj p c`m`e^ d}j ^iXe[\# ef YXaXi\dfj [\ L J (/'%'''% CX ZfZ_\iX \j le k\dX XgXik\% ;\j[\ L J (,%''' _XZ`X Xii`YX \j cX Z`]iX hl\ k\e\dfj hl\ gX^Xi% <e cl^Xi\j `dgfikXek\j# ef d\efj [\ L J ),%'''% P X ef XjljkXij\ j` \j$ ZlZ_Xdfj gi\Z`fj [\ L J +'%'''%$ <e dXk\i`X [\ fĂ”Z`eXj# cfj d\kiX$ a\j [\ cXj [\ gi`d\iX ZXc`[X[ ife[Xe cfj ,''%'''d)% D}j [\c (* \jk} [`jgfe`Yc\ gXiX i\ekXij\% <e fĂ”Z`$ eXj [\ [\ d\efi ZXc`[X[ _Xp ZXj` (%'''%''' [\ d) p _Xp [`jgfe`Yc\j le () % Ef \j le eÂ’d\if YXaf% KXd$ gfZf gXiX gi\e[\i leX clq ifaX% CX i\ekX \e XdYfj ZXjfj \jk} Xci\[\$ [fi [\c . e\kf% CX \Ylcc`Z`Â?e [\ cf Zfejkil`[f \e GXeXd\i`ZXeX p jlj X[pXZ\eZ`Xj jfe (,'%''' d)% Cf [`jgfe`Yc\ \j dXpfi le )) % <e ZlXekf X cfj cfZXc\j# cl\^f [\ cX Zi`j`j [\ )''/# cX mXZXeZ`X d\idÂ? dlZ_ˆj`df% 8g\eXj \e cXj qfeXj Zf$ d\iZ`Xc\j kfg# cX ZXek`[X[ [\ cfZXc\j c`Yi\j ki\gX Xc + [\c kfkXc% <e Xhl\c dfd\ekf cc\^Xdfj Xc () [\ cf \o`j$ k\ek\% ?fp \j [`]ˆZ`c \eZfekiXicfj% G\ijg\Zk`mX )'(' J\ Xm`qfiX le XÂŒf d\afi hl\ )''0% ;\aXdfj Xki}j cX Zi`j`j [\c ZXdgf# cX Zi`j`j Ă”eXeZ`\iX `ek\ieXZ`feXc# cX Zi`$ j`j cfZXc gfi \c k\dX 9:I8% 8lehl\ \e cX 8i^\ek`eX eleZX jXY\dfj hl\ \j cf hl\ \jk} XjfdXe[f X cX ml\c$ kX [\ cX \jhl`eX% :i\f hl\ \c [`e\if gifm\e`\ek\ [\ cXj Zfj\Z_Xj ^\e\$ iXi} `em\ij`Â?e% M\f d}j \jkXY`c`[X[

ÈCXj ZfejkilZZ`fe\j hl\# \e Xc^ e dfd\ekf# jl]i`\ife Xc^ e kifg`\qf# j`^l\e jl i`kdf% ?Xp d}j \jkXY`c`[X[ \e cfj gi\Z`fj p Zi\f hl\ \c [`e\if gifm\e`\ek\ [\ cXj Zfj\Z_Xj ^\e\iXi} `em\ij` eÉ

\e cfj gi\Z`fj% KXdY` e# \j Z`\ikf# cX `eÕXZ` e k`iXi} _XZ`X Xii`YX \c d) X Zfejkil`i% <j Z`\ikf hl\ \e cfj cl^Xi\j 888 ef hl\[Xe k\ii\efj p #gfi \e[\# cfj gi\Z`fj jfe mfc}k`c\j¿g\if _XZ`X Xii`YX% CXj ZfejkilZZ`fe\j hl\ \e Xc^ e dfd\ekf jl]i`\ife Xc^ e kif$ g`\qf j`^l\e jl i`kdf% M\f# \e jldX# le d\iZX[f d}j fi[\eX[f Zfe leX jlXm\ k\e[\eZ`X _XZ`X Xii`YX% 8 cX _fiX [\ _XYcXi [\ cfj Xchl`c\i\j# _Xp leX dXpfi f]\ikX [\ `edl\Yc\j p cfj gi\Z`fj _Xe YXaX[f2 cfj d`jdfj j\ i\e\^fZ`Xe j`e ^iXe[\j df[`ÔZX$ Z`fe\j% CX i\ekX XelXc ef jlg\iX #\e ^\e\iXc# \c , %CXj le`[X[\j kXi[Xe d}j \e Xchl`cXij\% 8[\d}j# hl`\e Zfdgi cX[i`ccfj# gi\Ô\i\ Xchl`cXi p ef jXc`ij\ [\ jl gfj`Z` e% ?Xp hl\ k\$

e\i \e Zl\ekX hl\ #^\e\iXcd\ek\# j\ Xchl`cX X gXhl\k\ Z\iiX[f `dgl\jkfj " \og\ejXj p jkXj ck`dXj _Xe Zi\$ Z`[f \e leX gifgfiZ` e dXpfi hl\ cX gifg`X i\ekX% <c gifg`\kXi`f gi\Ô\i\ cX kiXehl`c`[X[ [\ ZfekXi Zfe le Yl\e `ehl`c`ef% <e [\gXikXd\ekfj ljX[fj _lYf leX d\idX [\c (' Xc () % <e ZlXekf X cfj [\gXikXd\ekfj hl\ j\ Xchl`cXe \e ]fidX k\dgfiXi`X# cX YXaX [\c kli`jdf i\j`ek` jl i\ekX% I\jg\Zkf X cXj fÔZ`eXj# _Xp hl\ k\$ e\i Zl`[X[f1 cX mXZXeZ`X ef \j dlZ_X

8ii`YX# cXj fÔZ`eXj \e kfief X cX GXeXd\i`ZXeX f]i\Z\e (,'%''' d) [`jgfe`Yc\j2 XYXaf# cXj gifg`\[X[\j ljX[Xj [\ a\iXihl X j`klX[Xj \e I\Zfc\kX f 9Xii`f GXihl\ ki\gXife _XjkX cfj +''' [ cXi\j \c d)

g\if cXj \dgi\jXj kiXkXe [\ X_fiiXi Zfjkfj% <jkf j\ kiX[lZ\ \e dl[XeqXj X cl^Xi\j d}j \Zfe d`Zfj# p X m\Z\j j\ X^ilgXe j\Zkfi\j hl\ Xek\j \jkX$ YXe j\gXiX[fj%

,(

<dgi\jXj

Gpd\j1 cXj JfZ`\[X[\j [\ >XiXek X Zfdf XZZ\jf Xc ÔeXeZ`Xd`\ekf CX :}dXiX 8i^\ek`eX [\ JfZ`\[X[\j p =fe[fj [\ >XiXek X :8J=F> `eZfigfi Zfdf jfZ`f XZk`mf X Efik\ 8mXc J>I# jfZ`\[X[ Xlkfi`qX[X i\Z`\ek\d\ek\ gXiX [Xi i\jgXc[f X cXj Gpd\j [\ kf[f \c gX j

C

Xj JfZ`\[X[\j [\ >XiXek X I\Z gifZX jfe Ô^liXj `ej$ kXliX[Xj gfi cX c\p )+%+-.# df[`ÔZX[Xj gfi cX c\p ),%*'' p cX c\p )-%+0-# \jkiXk ^`ZXj gXiX \c [\jXiifccf [\ cXj D`Zif# G\hl\$ Xj p D\[`XeXj <dgi\jXj Zlpf XZZ\jf Xc Zi [`kf jl\c\ j\i ef j cf [`] Z`c j`ef ZXj` elcf% <jkXj jfZ`\[X[\j ]XZ`c`kXe \j\ XZZ\$ jf d\[`Xek\ \c fkfi^Xd`\ekf [\ XmXc\j X jlj jfZ`fj gXik Z`g\j% CX JfZ`\[X[ X[d`e`jkiX le ]fe[f [\ i`\j^f Zfejk`kl`[f gfi cfj Xgfik\j [\ cfj jfZ`fj gifk\Zkfi\j# ZlpX ]leZ` e \j cX ZfY\ikliX [\ cXj ^X$ iXek Xj fkfi^X[Xj X cfj gXik Z`g\j% KXdY` e# f]i\Z\e Xj\jfiXd`\ekf gXiX \c [\jXiifccf [\ gifp\Zkfj [\ `em\ij` e gXiX cXj Gpd\j% <e \jk\ j\ek`[f# :8J=F> :}dX$ iX 8i^\ek`eX [\ JfZ`\[X[\j p =fe$ [fj [\ >XiXek X kiXYXaX X [`Xi`f gXiX j\i cX gi`eZ`gXc Z}dXiX [\ i\$ ]\i\eZ`X hl\ g\id`kX [\jXiifccXi# gfk\eZ`Xi p ]fikXc\Z\i \c j`jk\dX [\ ^XiXek Xj X Gpd\j% P XZXYX [\ jldXi \eki\ jlj jfZ`fj X Efik\ 8mXc J>I# hl\ Zfd\eq \e )''0 Zfe 0* Gpd\j Zfdf jfZ`fj gXi$ k Z`g\j# p j\ gfj`Z`feX Zfdf leX ^iXe _\iiXd`\ekX gXiX fYk\e\i ÔeXeZ`Xd`\ekf Zfe cXj kXjXj d}j YXaXj [\c d\iZX[f# \jg\Z`Xcd\e$ k\ gXiX cXj \dgi\jXj iX[`ZX[Xj \e \c Efik\ [\c gX j% ÈEfik\ 8mXc j\i} leX _\iiXd`\ekX ZcXm\ gXiX \c [\jXiifccf [\ cX i\^` e \ `eZcljf leX fgZ` e gXiX Gpd\j [\ ZlXc$ hl`\i glekf [\c gX j% <jkXdfj pX

,)

kiXYXaXe[f gXiX hl\ cfj \dgi\$ jXi`fj k\e^Xe \c XmXc e\Z\jXi`f gXiX cf^iXi le XZZ\jf X Zi [`kfj hl\ gfk\eZ`\e jlj Zi\Z`d`\ekfjÉ# XÔid \c :i% 8cY\ikf CX_Xd# lef [\ cfj `dglcjfi\j [\ cX `[\X% D`\ekiXj# :8J=F> Zfe jfZ`fj Zfdf 8Z`e[Xi Gpd\j# Cfj >if$ Yf J>I# 8ÔXeqXi# 8^ifXmXc# 8mXc IliXc# \eki\ fkifj ZfcXYfiX \e cX ZfejkilZZ` e [\ gfc k`ZXj g Yc`ZXj p gi`mX[Xj hl\ ]fd\ek\e cX `em\i$ j` e# \c \dgc\f# cX i\jgfejXY`c`[X[ jfZ`Xc# cX gif[lZk`m`[X[ p \c Zi\Z`$ d`\ekf [\ cfj \dgi\e[\[fi\j%

ÈEfik\ 8mXc j\i} leX _\iiXd`\ekX ZcXm\ gXiX \c [\jXiifccf [\ cX i\^` e Efik\ [\c gX j% <jkXdfj kiXYXaXe[f gXiX hl\ cXj Gpd\j k\e^Xe \c XmXc e\Z\jXi`f gXiX cf^iXi \c XZZ\jf X Zi [`kfj# Zfe cXj kXjXj d}j YXaXj [\c d\iZX[fÉ

<dgi\jXj

È;\Y\dfj Xpl[Xi X cfj \a\Zlk`mfj X Zfem`m`i Zfe cX `eZ\ik`[ldYi\É <c \e]fhl\ ^\jk}ck`Zf# ZX[X m\q d}j [\dXe[X[f gfi cXj fi^Xe`qXZ`fe\j# gifgfe\ mfcm\i X lY`ZXi Xc `e[`m`[lf \e \c Z\ekif C`Z% ;Xe`\c JXek`e\cc` Gj`Z cf^f L%9%8% (0/'

<

e le k`\dgf [\ kiXej]fi$ dXZ`fe\j m\cfZ\j# hl\ gf$ e\e X gil\YX cX ZXgXZ`[X[ [\ `e[`m`[lfj p \dgi\jXj gXiX X[XgkXij\ Zi\Xk`mXd\ek\ X cXj d`jdXj# pX ef \j gfj`Yc\ Xjg`iXi X hl\ leX fi^Xe`qXZ` e j\X Zfd$ g\k`k`mX jfYi\ cX YXj\ [\ leX [`m`$ j` e _fi`qfekXc [\c kiXYXaf p m\i$ k`ZXc \e cXj [\Z`j`fe\j% KXc Zfdf j\ XcX <ie\jkf >fi\ \e \c gi cf^f [\ ÈCX hl`ekX [`jZ`gc`eXÉ# [\ G\k\i J\e^\# hl`\e\j efidXcd\ek\ \j$ k}e Z\iZX [\c Zc`\ek\# jfe hl`\e\j \jk}e d}j c\afj [\c gf[\i% ¶: df gf[i X [`Xcf^Xi Zfe \c Zc`\ek\ leX \dgi\jX hl\ ef cf _XZ\ Zfe jlj gifg`fj \dgc\X[fj6 CXj fi^Xe`qXZ`fe\j gf[i}e k\e\i fgfikle`[X[ [\ jlYj`jk\eZ`X p [\jXiifccf \e kXekf p \e ZlXekf jlj \hl`gfj p ^ilgfj [\ kiXYXaf j\ Zfejk`klpXe \e Zfdle`[X[\j [\ Xgi\e[`qXa\% <e \jk\ glekf# \c Xgfik\ [\c \e]fhl\ ^\jk}ck`Zf \j j`^e`ÔZXk`mf% <e fkifj gX j\j <c df[\cf >\jk}ck`Zf [\ ;\jX$ iifccf Fi^Xe`qXZ`feXc \jk} m`^\ek\ \e mXi`fj cl^Xi\j [\c dle[f# \e$ ki\ \ccfj# \e Z\ekifj [\ MXc\eZ`X p 9XiZ\cfeX# \e <jgX X% Cfj d`j$ dfj j\ \eZl\ekiXe [\jXiifccXe[f jlj kXi\Xj [\ ]fidXZ` e p Zfejlc$ kfi X \e [`m\ijfj gX j\j# kXekf \e XjfZ`XZ`fe\j gi`mX[Xj Zfdf \e fi^Xe`jdfj ^lY\ieXd\ekXc\j p jfZ`\[X[\j [\ Y`\e Zfd e% D`\ekiXj kXekf# \e 8d i`ZX cX$ k`eX p \e cX 8i^\ek`eX \jkfj Zfe$ Z\gkfj p df[Xc`[X[\j [\ Zfd$

,+

gi\ej` e \o`jk\eZ`Xc [\c dle[f cc\^Xife Zfdf le jfgcf [\ X`i\ ]i\jZf# cl\^f [\ le g\i f[f fjZl$ if [\ el\jkiX _`jkfi`X% Lef [\ cfj ^\jkXck`jkXj d}j i\ZfefZ`[fj \e \c dle[f _fp \j \c Z_`c\ef :cXl$ [`f EXiXeaf# Zlpfj cXYfiXkfi`fj `ek\ej`mfj \ej\ Xe X ef k\d\i X cfj Zfe]c`Zkfj# X `ek\^iXi cf [`$ m\ijf j`e [\jkil`icf# X Zfe]`Xi \e cX Xlkfii\^lcXZ` e# X `ek\^iXi cXj gfcXi`[X[\j p _XZ\ij\ i\jgfejX$ Yc\ ZX[X lef [\ cfj gXik`Z`gXek\j [\ jlj \dfZ`fe\j# j\ek`d`\ekfj# e\Z\j`[X[\j p XZZ`fe\j p# gfi jfYi\ kf[Xj cXj ZfjXj# i\jg\kXi$ j\ X j d`jdf p X cfj fkifj Zfdf g\ijfeXj% Jlj `e`Z`fj CX 8jfZ`XZ` e >\jk}ck`ZX j\ ]le[ \e (0/'# cl\^f [\ cX i\Xc`$ qXZ` e [\ Zlijfj p cXYfiXkfi`fj `ek\ej`mfj [\ \eki\eXd`\ekf# f]i\Z`[fj gfi cX ;iX% 8[i`XeX JZ_$ eXb\# `ekif[lZkfiX [\ cX K\iXg`X >\jkXck \e cX 8i^\ek`eX# X cfj jf$

Z`fj ]le[X[fi\j% <e (0/)# Zi\ jl gifg`X <jZl\cX [\ =fidXZ` e \e >\jkXck# Zfe le }i\X Zc e`ZX p fkiX [\ fi^Xe`qXZ`fe\j# d}j i\$ Z`\ek\ p \e [\jXiifccf ZfejkXek\% CXj `[\Xj YXj\ j`^l\e j`\e[f cXj d`jdXj# p j\ Xgc`ZXe \e ZfejlckXj `e[`m`[lXc\j p fi^Xe`qXZ`feXc\j% È;Xij\ Zl\ekXÉ# g\iZXkXiefj [\ el\jkifj Zfek\e`[fj [\ ZfeZ`\e$ Z`X p [\ cfj i\Zlijfj Zfe hl\ ZfekXdfj# g\iZ`Y`\e[f el\jkiXj e\Z\j`[X[\j# \ogc`Z`k}e[fcXj ZcX$ iXd\ek\ p fYk\e`\e[f Xgfpf p i\Zlijfj \e \c XdY`\ek\# cl\^f [\ le Xi[lf gifZ\jf [\ [`jZi`d`eX$ Z` e% LeX [\ cXj df[Xc`[X[\j [\ `ek\im\eZ` e \e fi^Xe`qXZ`fe\j \j cX `dgc\d\ekXZ` e [\ kXcc\i\j m`m\eZ`Xc\j% ÈJ`\dgi\ \j d}j ]}Z`c _XZ\i [\jZlYi`d`\ekfj gXik`Z`$ gXe[f [\ leX \og\i`\eZ`X hl\ _X$ YcXe[f [\ \ccXÉ# \ogi\j <% Gfcjk\i Xc i\jg\Zkf% ;\jX] fj p _\iiXd`\ekXj J\^ e Afj\g_ Q`eb\i# \c ^ilgf

\j d}j hl\ cX jldX [\ `e[`m`[lfj% <j le ^iXe fi^Xe`jdf \e ZfejkXe$ k\ ZXdY`f% <e jl gifZ\jf \c ^ilgf d`jdf p cfj `e[`m`[lfj j\ kiXej$ ]fidXe% <c Zfejlckfi ^\jk}ck`Zf ]leZ`feX Zfdf le ]XZ`c`kX[fi [\ gifZ\jfj% <j \e \jk\ Zfek\okf hl\ \c ^il$ gf `eÕlp\ \e cfj j\ek`d`\ekfj# Zfe[lZkXj p XZk`kl[\j [\ cfj `ek\$ ^iXek\j p# \j X jl m\q# `eÕl`[f gfi cfj j\ek`d`\ekfj# XZk`kl[\j p Zfe$ [lZkXj [\ jlj d`\dYifj% <c kiXYX$ af ^ilgXc `dgc`ZX leX X[XgkXZ` e Zi\Xk`mX p le dfm`d`\ekf _XZ`X e`m\c\j d}j Xckfj [\ Zfdgi\ej` e p i\Xc`qXZ` e% Cfj gXik`Z`gXek\j X[hl`\i\e ZfeZ`\eZ`X [\ cfj ifc\j hl\ i\gi\$ j\ekXe _XY`klXcd\ek\ p ZlXc\j jfe jlj [`ÔZlckX[\j \e \c gifZ\$ jf [\ `ek\iXZZ` e Zfe gXi\j p \e i\cXZ` e Xc dle[f Z`iZle[Xek\% J`\dgi\ j\ i\jg\kXe cXj [\Z`j`f$ e\j [\c `e[`m`[lf p ef j\ alq^X cX i\j`jk\eZ`X Zfdf Xc^f e\^Xk`mf% J\ `eZclp\ \c [`j\ejf Zfdf gXik\ [\c kiXYXaf p \j mXc`fjf [\jZlYi`i \c gfk\eZ`Xc Zi\Xk`mf `eZcl`[f \e cX \ogc`Z`kXZ` e [\ cfj [\jXZl\i[fj% Cfj \hl`gfj [\ kiXYXaf jfe \c }d$ Y`kf ZlXj` eXkliXc [\ Xgc`ZXZ` e [\ \jkXj `ek\im\eZ`fe\j% <e cX XZklXc`[X[# \c k\dX j\ _X Zfdgc\a`qX[f X e d}j% J\ _X `e$ Zi\d\ekX[f cX ZfekiXZZ` e \e dl$ Z_Xj fi^Xe`qXZ`fe\j# \c \dgc\f j\ _X gi\ZXi`qX[f p ef X]\ZkX jfcX$ d\ek\ X cfj \jkXd\ekfj d}j YX$ afj [\c \jZXcX] e# j`ef hl\ `eZclp\ X hl`\e\j _XjkX _XZ\ le k`\dgf j\ dXek\e Xe Zfe dXpfi ]XZ`c`[X[ \e jlj gl\jkfj \a\Zlk`mfj% <j [`] Z`c fYk\e\i Zf_\j` e \e ^ilgfj [\ kiXYXaf hl\ ZXdY`Xe ZfejkXek\d\ek\ [\ `ek\^iXek\j [\Y`[f Xc Z\j\ f X cX ifkXZ` e% 8c

\o`jk`i \e Xc^lefj cl^Xi\j le Xckf gfiZ\ekXa\ [\ ifkXZ` e# ef j\ [`jk`e^l\ ZcXiXd\ek\ \eki\ `ek\i$ efj p \ok\iefj# p \c Zfdgifd`jf \dfZ`feXc Zfe cX \dgi\jX k`\e[\ X j\i c`d`kX[f# [\c d`jdf df[f \j g\iZ`Y`[f \c Zfdgifd`jf [\ cX \dgi\jX gXiX Zfe \c \dgc\X[f% Jl\c\ [Xij\ hl\ cfj \dgc\X[fj kiXYXa\e gfi \c [`e\if p cX gfj`Y`c`$ [X[ dXk\i`Xc hl\ fYk`\e\e j`e le Zfdgifd`jf \dfZ`feXc Zfe cfj fYa\k`mfj p e\Z\j`[X[\j [\ cX \d$ gi\jX# j`e `emfclZiXij\ \e \c gif$ p\Zkf% <jkf kiX\ XgXi\aX[fj Zfjkfj \e \c [\j\dg\ f p kXdY` e j`klX$ Z`fe\j [\ `ejXk`j]XZZ` e# \jki j# \e]\id\[X[\j gj`Zfjfd}k`ZXj# X[`ZZ`fe\j p# \e Xc^lefj ZXjfj# _fjk`c`[X[ \e \c _f^Xi% <e cX g\c ZlcX È8dfi j`e \jZX$ cXjÉ# >\fi^\ :cffe\p `ek\igi\kX X le ZXYXcc\if ZlpX \jg\Z`Xc`[X[ \j m`XaXi gfi \c dle[f [\jg`[`\e[f \dgc\X[fj# kiXkXe[f [\ Zfem\e$ Z\icfj [\ hl\ \j leX fgfikle`[X[ gXiX leX m`[X d\afi d`\ekiXj XZldlcX d`ccXj [\ ml\cf% <c ]Xe$ kXjdX [\ cX g i[`[X [\c \dgc\f p cX \oZclj` e ef \j leX ]XekXj X [\jZXY\ccX[X gXiX dlZ_fj% J` \e$ k\e[\dfj hl\ lef [\ cfj i\hl`j`$ kfj [\ leX Yl\eX Zfdle`ZXZ` e \j cX Zfe]`XeqX# kXc m\q cX [`jkXe$ Z`X Zfdgc`hl\ le gfZf cX ZXc`[X[ [\ cX d`jdX gfi cX Xlj\eZ`X f c`$ d`kXZ` e [\ cX `ek\iXZZ` e% 8hl # Zfdf Zfejlckfi\j# [\Y\i Xdfj gi\gXiXiefj gXiX kiXYXaXi XZfd$ gX Xe[f X cfj ^\i\ek\j \e \c dX$ e\af [\ cX `eZ\ik`[ldYi\ p \e cX Xlj\eZ`X [\ jfclZ`fe\j gi\Z`jXj# \e m\q [\ f]i\Z\i ]XcjXj jfclZ`f$ e\j \ecXkX[Xj% Fkif glekf [\ XYfi[Xa\# X gXik`i [\ cXj dXe`]\jkXZ`fe\j [\ dXc\j$ kXi `ejk`klZ`feXc# \j \c k\dX [\ cX

i\j`jk\eZ`X Xc ZXdY`f hl\ Zfecc\mX \e j cX j\d`ccX [\c i\\eZl\ekif p cX `ek\^iXZ` e% I\Zi\Xi \jgXZ`fj [fe[\ [`m\ijXj g\ijfeXj gl\[Xe j\i \jZlZ_X[Xj gl\[\ j\i jldX$ d\ek\ i\gXiX[fi p gfk\eZ`Xcd\e$ k\ Zi\Xk`mf p ZfejkilZk`mf j` j\ lk`c`qXe cXj _\iiXd`\ekXj d\kf$ [fc ^`ZXj X[\ZlX[Xj p \o`jk\ le j`eZ\if `ek\i j gXiX hl\ \jkf j\ gif[lqZX% <e \jk\ Zfek\okf# [\j[\ \c <e]fhl\ >\jk}ck`Zf \j gfj`Yc\ `dgc\d\ekXi gif^iXdXj [\ gi\$ m\eZ` e [\ i`\j^f gj`Zfc ^`Zf p \jki j \d\i^\ek\ [\c [\j\dg\ f cXYfiXc# gif^iXdXj [\ `ek\im\e$ Z` e gXiX \c d\afiXd`\ekf [\c Zc`$ dX cXYfiXc p \c ]fikXc\Z`d`\ekf [\ \hl`gfj [\ kiXYXaf% M`j` e X ]lklif Cfj \^i\jX[fj [\ el\jkiX <j$ Zl\cX [\ =fidXZ` e \e \c Ýi\X Fi^Xe`qXZ`fe\j \jk}e \e Zfe[`$ Z`fe\j [\ `ek\^iXij\ f i\`ek\^iXi$ j\ X cXj fi^Xe`qXZ`fe\j# cl\^f [\ _XY\i kiXej`kX[f le gif]le[f gifZ\jf [\ Zi\Z`d`\ekf g\ijfeXc% <e Xhl\ccfj ZXjfj \e hl\ ]fid\e gXik\ [\ leX fi^Xe`qXZ` e# \c _\$ Z_f [\ g\ik\e\Z\i X cX ZlckliX [\ cX d`jdX ]XZ`c`kX jl [\j\dg\ f gfjk\i`fi% <e cfj ck`dfj X fj# j\ gi\j\ekXe ZfejlckXj hl\ i\hl`\$ i\e ZX[X m\q k`\dgfj d}j gifcfe$ ^X[fj [\ g\idXe\eZ`X \e cX \d$ gi\jX p \jkX ZXiXZk\i jk`ZX kfieX Xc^f [`ÔZlckfjX cX fg\iXk`m`[X[ [\ le Zfejlckfi \ok\ief% ! <c Xlkfi [\ \jk\ `e]fid\ \j ;`i\Zkfi [\ cX <jZl\cX [\ =fidXZ` e \e >\jkXck [\ cX 8jf$ Z`XZ` e >\jk}ck`ZX [\ 9l\efj 8`i\j# ;fZ\ek\ K`klcXi [\ cX DXk\i`X <e]fhl\ >\jk}ck`Zf p Gifp\Zkf Gif]\j`feXc% Ýi\X Fi^Xe`qXZ`fe\j 8>98 # Jlg\im`jfi [\c J\im`Z`f [\ 8k\eZ` e X cX :fdle`[X[ J8: [\ 8>98# :ffi[`eX[fi [\ ^ilgfj gi\m\ek`mfj $ k\iXg lk`Zfj gXiX mX$ ife\j \e j`klXZ` e [\ i`\j^f \jki j# X]\ZZ`f$ e\j gj`Zfjfd}k`ZXj p gifdfZ` e [\ jXcl[%

,,

DXib\k`e^

:fXZ_`e^ Zfd\iZ`Xc <c el\mf XgifXZ_ gXiX cf^iXi cfj fYa\k`mfj [\ m\ekXj p dXo`d`qXi cX i\ekXY`c`[X[ @e^% 8e[i\X :fejfc`e` ;`i\ZkfiX [\ 8: :fejlck`e^ nnn%XZZfejlck`e^%Zfd%Xi

C

Xj le`m\ij`[X[\j \ej\ Xe X cfj \a\Zlk`mfj X j\i Yl\efj XYf^X[fj# `e^\e`\ifj# ZfekX$ [fi\j g\if e`e^leX \jZl\cX [\jXiif$ ccX Zfd\iZ`Xc\j% ;\ cX d`jdX ]fidX hl\ cXj \dgi\jXj ef gi\gXiXe X jlj \dgc\X[fj gXiX j\i ^\i\ek\j# d}j Xcc} [\c glekf [\ m`jkX XZX[ d`Zf% <o`jk\ le el\mf XgifXZ_ X kiXm j [\c ZlXc ZlXchl`\i ZfdgX X gl\[\ XZ\c\iXi cX ZlimX [\ Xgi\e[`qXa\ [\c ^\i\ek\ Zfd\iZ`Xc p d`e`d`qXi cfj \iifi\j [liXek\ \c gifZ\jf# i\[le$ [Xe[f \e cX d\afiX [\ cfj i\jlckX[fj hl\ jk\ ^\e\i\ gXiX jl \dgc\X[fi% <ekfeZ\j# ¶m\e[\[fi j\ _XZ\ f j\ eXZ\6 J` Y`\e _Xp g\ijfeXj hl\ k`\e\e _XY`c`[X[\j `eeXkXj gXiX [\$ jXiifccXij\ Zfdf Zfd\iZ`Xc# \o`jk\e Zfdg\k\eZ`Xj hl\ j\ gl\[\e X[$ hl`i`i X kiXm j [\ le gif^iXdX [\ ZXgXZ`kXZ` e X[\ZlX[f p [\c j\$ ^l`d`\ekf hl\ gl\[\ Yi`e[Xi le d\ekfi f ZfXZ_ \og\i`d\ekX[f dXiZXe[f \c ZXd`ef p ]XZ`c`kXe$ [f \c Xgi\e[`qXa\% ¶GXiX hl j`im\ \c :fXZ_`e^ Zf$ d\iZ`Xc6 KXekf \c >\i\ek\ :fd\iZ`Xc [\ leX dlck`eXZ`feXc Zfdf \c [l\ f f [`i\Zkfi [\ leX Gpd\# ^l`X[f gfi le ZfXZ_ Xm\qX[f# gl\[\ cf^iXi i}g`$ [Xd\ek\1 ● I\]fiqXi jlj ]fikXc\qXj ● KiXYXaXi jlj [\Y`c`[X[\j ● Gfe\i X gil\YX jl d\kf[fcf^ X [\ kiXYXaf ● :fe]ifekXi jlj k\fi Xj ZfekiX cX \og\i`\eZ`X ● I\m`jXi jl \jkiXk\^`X ● ;\jXiifccXi _XY`c`[X[\j [\ ZfXZ_ [\ jl \hl`gf [\ m\ekXj

,-

:X[X m\q d}j \dgi\jXj# \jk}e X[fgkXe[f \jkX k Ze`ZX p ^fqXe[f [\ jlj Y\e\ÔZ`fj \e \c Zfikf p d\$ [`Xef gcXqf% <c `dgXZkf \j [`i\Zkf \e cX i\ekXY`c`[X[ [\c e\^fZ`f% ;\Y`[f X hl\ \c ZfXZ_ Zfd\iZ`Xc kiXYXaX Zfe jl ZfXZ_\\ \e [`m\ijfj Xjg\Zkfj% 8ld\ekXi cX \ÔZ`\eZ`X Zfd\i$ Z`Xc1 XZklXe[f Zfdf Zfejlckfi lef X lef jfYi\ \c kiXYXaf [`Xi`f [\ cX g\ijfeX YXaf klk\cXa\% I\c\mXe[f jl XZZ`feXi p ZfekiXjkXe[f cf XZklX[f Zfe jl \og\i`\eZ`X p ZfefZ`d`\e$ kf% 9ljZXe[f \e Zfealekf cfj d\$ ZXe`jdfj d}j X[\ZlX[fj gXiX cX Zfd\iZ`Xc`qXZ` e [\ gif[lZkfj p&f j\im`Z`fj% GcXe`ÔZXi fYa\k`mfj Zldgc`$ Yc\j1 \c ZfXZ_ Xpl[X X cX ^\i\eZ`X Zfd\iZ`Xc X m\i`ÔZXi hl\ cfj fY$ a\k`mfj [\ m\ekXj k\e^Xe Zfej`j$ k\eZ`X Zfe cXj gfj`Y`c`[X[\j hl\ Yi`e[X \c d\iZX[f Zfdf Xj kXdY` e hl\ j\ gifp\Zk\e XZfi[\j Zfe cXj _\iiXd`\ekXj p i\Zlijfj [`jgf$ e`Yc\j% 8c`e\Xi cX \jkiXk\^`X Zfe cX k}Zk`ZX1 \c Zfejlckfi hl\ XZk X Zfdf ZfXZ_ ]leZ`feX Zfdf XYf^X[f

[\c [`XYcf gXiX k\jk\Xi cX \jkiXk\^`X Zfd\iZ`Xc# el\mXd\ek\ lk`c`qXe[f jl \og\i`\eZ`X p ZfefZ`d`\ekf \e cX dXk\i`X Zfdf Xj kXdY` e gfe`\e[f X gil\YX hl\ cX `dgc\d\ekXZ` e j\X Zf_\i\ek\ Zfe cf gifp\ZkX[f% D\afiXi \c Zc`dX cXYfiXc1 i\]fiqXi cXj _XY`c`[X[\j [\ c`[\iXq^f# Xpl[Xe$ [f X kiXYXaXi jfYi\ cXj ]fikXc\qXj p [\Y`c`[X[\j Zfdf Xj kXdY` e \c [\jXiifccf [\ jlj Zfdg\k\eZ`Xj d}j ]l\ik\j# i\g\iZlk\ [`i\ZkXd\ek\ \e \c Zc`dX hl\ j\ ^\e\iX \e cX ]l\iqX [\ m\ekXj% Le \hl`gf hl\ k`\e\ ild$ Yf p i\^cXj ZcXiXj# kiXYXaX X ^ljkf p fYk`\e\ d\afi\j i\jlckX[fj% :fej\^l`i d}j :c`\ek\j jXk`j$ ]\Z_fj1 kf[X cX \jkiXk\^`X p \c gcXe [\ `dgc\d\ekXZ` e [\Y\ Zfek\d$ gcXi leX j`klXZ` e ^XeXi$^XeXi \eki\ \c :c`\ek\ p cX <dgi\jX% <jkX \j cX e`$ ZX ]fidX [\ Xj\^liXij\ i\jlckX[fj [liX[\ifj p :c`\ek\j Zfek\ekfj hl\ ml\cmXe X ZfdgiXi% P \e [\Ôe`k`mX# 8ld\ekXi cX i\ekXY`c`[X[ [\c e\^fZ`f1 cX gl\jkX X glekf [\ kf[fj cfj k\dj Xek\i`fi\j i\[le$ [Xi} \e m\e[\i d}j p d\afi% <e d\afiXi cX Xj\ik`m`[X[ Zfd\iZ`Xc [\c \hl`gf [\ m\ekXj i\]fiqXe[f \c XZZ`feXi [\ jl c [\i% <e i\jld\e# cf hl\ gifgfe\ \jkX k Ze`ZX [\ :fXZ_`e^ :fd\iZ`Xc \j Xpl[Xi X cXj g\ijfeXj i\jgfejXYc\j [\ cX Zfd\iZ`Xc`qXZ` e X i\jfcm\i jlj gifYc\dXj [\ g\i]fidXeZ\ X kiXm j [\ cX m`j` e [\ leX g\ijfeX \og\ikX p \ok\ieX X cX \dgi\jX% <jkX k`\e\ cX ZXgXZ`[X[ [\ j\i fYa\k`mX p ef \jk} j\j^X[X gfi cX gifYc\d}k`ZX `ek\ieX [\ cX \dgi\jX% GXiX cf^iXi i\jlckX[fj \o`kfjfj# \c kiXYXaf [\Y\ j\i \e \hl`gf \eki\ \c :fXZ_ p \c ZfXZ_\\% ;fe[\ \c gi`$ d\if [\Y\ j\i le gif]\j`feXc `[ e\f gXiX cX kXi\X p \c j\^le[f# [\Y\ k\$ e\i cX Xg\ikliX d\ekXc gXiX g\id`k`i$ j\ Xpl[Xi# ZfekXe[f Zfe \c Xgfpf [\ cX XckX ^\i\eZ`X%

R&E

8zF (. $

ELD<I

qf )'(' DXiiqf ) F ('/ $ DX

CX ZlXikX c \[`Z`Â?e [\ f I < jlgc\d\ek

EspaĂąa

liXZ`�e I\\jkilZk fdˆX [\ cX \Zfe

CWhgk[ bW Z_[h[dY_W" WYY[ZW W bW c[`eh _d\ehcWY_ÂŒd Z[ bei c[hYWZei Z[ YWf_jWb[i

8zF

ice <c Z nte c`d na gXiX X \Zfe Â?d`Zf rio cX Z\ c\Yi XZ`Â? e

(. $

ELD

<IF

('. $

<e\

if )

'('

$

Re 4 p de aso 20 burs 09 ĂĄti Le X l ÂŒf

),

ef ZXi[ Xgkf ˆXZf j

gXiX

`Y„i`ZX

&+ VŠdh Zc Za bZgXVYd YZ XVe^iVaZh

El B

$ ),

la Hacer cia diferen

ate Real Est le K`\dgf [\ }j d\iZX[f d fi[\eX[f

Lazo com s

CX k\ unita iZ\i rio X \[`Z s `Â?e [\c jlgc \d\e kf I <

XeaX 8c\ikX eXi Z``feXi`f XZ `eÕX

\c fg`eXe \ gi`d\i e`m fd`jkXj [\ g `\[X[ J`\k\ \Zfe jf p cX Xej ejf p XjZ\e j \e XjZ\ fj \e i\Z`f gi\Z` jfYi\ cfj g fjj iZX[f \iZX[ j d\ cfj d \e cf iX \e hl\ ^\e\iX

D`iX fgk` [X d`j kX

Responsabilidad & empresas

CXj gi j\^d `eZ`gXc\ df[ \ekfj Xg j ZfdgX \i Œˆ [\ i\ X[f p lekXe X Xj [\ g` [` le ^c Xe_\ Xj ZcX [\e gfi )'(' jk`ekfAtentas j a las necesidades mĂĄs urgen[\ cfj \d iXj hl le tes del paĂ­s, cada vez mĂĄs empresas \ Zf df[\c Zi\Z`animan gi\j d`\ a ser parte del cambio. Educarse f cXYf Xi`f ekf mejorar la i\ Z [\ gXˆa los jĂłvenes, j j diversos aspectos y calidad delasvida en fe cf j demandas de un planetaescuchar necesitado son

R&E H[ifediWX_b_ZWZ o ;cfh[iWi

algunas de las premisas que guĂ­an sus acciones socialmente responsables. A lo largo de estas pĂĄginas, compaùías de distintos rubros, con paso ďŹ rme, cuentan su experiencia.

Hacer la diferencia

� AV ZXdcdb†V \adWVa n adXVa � AV iZcYZcX^V YZ adh bZgXVYdh YZ aV bVcd YZ adh VcVa^hiVh bVh YZhiVXVYdh � BVcV\ZbZci ;^cVcX^Zgd n hj ^beVXid Zc aVh YZX^h^dcZh ZbegZhVg^VaZh � GZVa HiViZ � AVh iZXcdad\†Vh fjZ [VX^a^iVc aV \Zhi^‹c ÒcVcX^ZgV � :a ^beVXid fjZ aVh eg{Xi^XVh YZ GH: n Za kVadg hjhiZciVWaZ i^ZcZc Zc Za kVadg YZ hj XdbeVŠ†V

4

;d [ijW [Z_Y_ÂŒd @WYa_[ CWkXh[" YWb_Ă“YWZW feh ?;9E Yece ÇKdW Z[ bWi ck`[h[i gk[ cWd[`W bei c_bbed[i [d [b c[hYWZe Ă“dWdY_[heĂˆ" [iYh_X[ [d <_dWdpWi 9ehfehWj_lWi Ç;b 9Wie 7bkWhĂˆ

IkiYh‡XWi[ feh ' W‹e W iÂŒbe '(+ o eXj[d]W [ijei X[d[Ă“Y_ei0 + Z_ZbeaVgZh YZ 6aoVh 7V_Vh â—? â—?

+ Z_ZbeaVgZh YZ G : hZXX^‹c Ò_V Zc idYdh adh c�bZgdh � 6XXZhd V cjZhigV lZW n V aVh WdahVh YZa bjcYd Xdc idYV aV ^c[dgbVX^‹c VXijVa^oVYV � 6XXZhd lZW V ZY^X^dcZh VciZg^dgZh � CZlhaZiiZg ZheZX^VaZh � 8VeVX^iVX^‹c n 6XijVa^oVX^‹c 6XVY‚b^XV

n eVgi^X^eZ Zc Za hdgiZd YZ jc Ă’c YZ hZbVcV eVgV ' eZghdcVh Zc aV Ç;ijWdY_W Febe 9bkX BW 9WdZ[bWh_WĂˆ

IkiYh_fY_ÂŒd WdkWb '+&

EgdbdX^‹c k{a^YV ]VhiV Za .$) $'%&%

9eckd‡gk[i[ Wb +*'' *)''#+&&) Feh cW_b W _d\e@WbpWioXW`Wi$Yec$Wh e feh \Wn Yecfb[jWdZe o [dl_WdZe ƒij[ \ehckbWh_e

R&E E

8zF (. $

ELD<I

), ), $ ' $ '(' )'( qf ) Xiqf DXi $ D / $ ('/ F ('

la Hacer cia diferen

CX ZlXikX c \[`Z`Â?e [\ f I < jlgc\d\ek

EspaĂąa

liXZ`�e I\\jkilZk fdˆX [\ cX \Zfe `Y„i`ZX

4

El B

<c Zc icen te `d gXiX X \ZfeÂ? nari o cX Z\ d c\YiX `Zf Z`Â?e

8zF

(. $

ELD

<IF

('. $

<e\

if )

Re p de aso 20 burs 09 Le XÂŒ ĂĄtil f

ate Real Est le K`\dgf [\ }j d\iZX[f d [f fi[\eX[f

R&E H[ifediW

;Xkfj [\c JljZi`gkfi EfdYi\ p 8g\cc`[f1 DX`c GXik`ZlcXi1 K\c„]fef1 :\clcXi1 ;Xkfj CXYfiXc\j <dgi\jX1 :Xi^f1 DX`c1 Ă?i\X1 K\c„]fef1 ;`i\ZZ`Â?e1 ;Xkfj [\ <emˆf ;fd`Z`c`f [\ <eki\^X1 CfZXc`[X[1 Gifm`eZ`X1 :G1 ;Xkfj [\ =XZkliXZ`Â?e EfdYi\ f IXqfe JfZ`Xc1 :L@K1 :fe[`Z`Â?e ]i\ek\ Xc @M81

=fidXj [\ GX^f :_\hl\ <]\Zk`mf1 \e el\jkiXj fÔZ`eXj \e ), [\ DXpf *+. G`jf - F]% -(, ;\g�j`kf f KiXej]\i\eZ`X1 \e \c 9XeZf :i\[`Zffg

$

),

ef Xg kf ZXi[ [ˆX ˆXZZf fjj

gXiX

Respon sabilid ad & em presas

IkiYh_fY_ÂŒd

'('

X_b_ZW

Z o ;cfh[

iWi

Lazo com s unit

CX k\ ari iZ\i os X \[`Z` Â?e [ \c jlgc \d\e kf I <

Atentas tes del a las neces paĂ­s, cada idades anima vez mĂĄs mĂĄs urgen n a ser parte a los jĂłven del cambempresas se en divers es, mejor io. Educ ar demandasos aspectos la calidad de ar y escuc vida de un algunas har las plane accionesde las prem ta necesitado isas que lo largo socialment guĂ­an son e distintos de estas pĂĄginresponsabl sus es. su exper rubros, con as, compaùías A paso ďŹ rme, iencia de . cuentan

HaceraX la diXe ferenc 8c\ikX eXi `f ia `eÕXZ`feXi `eXe \i e`m\c fg fd`jkXj [\ gi`d Xej`\[X[ J`\k\ \Zfe jZ\ejf p cX i\Z`fj \e X jfYi\ cfj g iZX[fj \e cfj d\ hl\ ^\e\iX

4

D`iX fgk` [X d`j kX

CX C Xj Xj j gi gi`e i`eZ` j\ \^ gXc\ ^d ^d\e j Zf \e ekkkf fjj X df[ f[ Xg [\ glek dgXŒˆXj \iiiX \ X[ X [f p le kX Xe X [\ [ \ i\ i\^ i\ \^ le ) \ [`jk`e ^cccX Xj Z g`[\e g Xj Xe '( kf gf e_ e_ cXiX _\ \cccf \ fj fj j hl i le d ' [\ Zi\ j j \ \d dgi \jXi \ ZfcXYf f[\cf [\ Z`d`\ek `fj f g i\ Z fe cf Xˆj j

Responsabilidad & empresas

R&E H[ifediWX_b_ZWZ o ;cfh[iWi

Atentas a las necesidades más urgentes del país, cada vez más empresas se animan a ser parte del cambio. Educar a los jóvenes, mejorar la calidad de vida en diversos aspectos y escuchar las demandas de un planeta necesitado son algunas de las premisas que guían sus acciones socialmente responsables. A lo largo de estas páginas, compañías de distintos rubros, con paso firme, cuentan su experiencia.

Hacer la diferencia

4

<dgi\jXj p :fdle`[X[

CX IJ< \e k`\dgfj [\ Zi`j`j J\^ e mXi`fj \jkl[`fj glYc`ZX[fj \e cfj ck`dfj d\j\j# cX Zi`j`j \Zfe d`ZX \jgX fcX _X g\ial[`ZX[f j`^e`ÔZXk`mXd\ek\ \c e`m\c [\ ZfeÔXeqX jfZ`Xc \e cXj \dgi\jXj [\ \jk\ gX j% DlZ_fj j\Zkfi\j [\ cX jfZ`\[X[ cXj Zfej`[\iXe cXj i\jgfejXYc\j [\c fi`^\e p cXj Zfej\Zl\eZ`Xj [\ kXc Zi`j`j% <e \jk\ dXiZf# ¶hl gXg\c Xjld\ cX IJ< p Z df gl\[\ Xpl[Xi X i\Zlg\iXi cX ZfeÔXeqX6

-'

C\feXi[f GXkXZZ`e`

ÈC

fj kiXYXaX[fi\j# cfj X_fii`jkXj# cfj k`klcXi\j [\ gi jkXdfj _`gfk\$ ZXi`fj p _XjkX cfj j`dgc\j gif$ g`\kXi`fj [\ le gXki`dfe`f Xgle$ kXife X cX \Zfefd X [\ d\iZX[f p# \e dXpfi d\[`[X# X cXj \dgi\$ jXj# Zfdf cXj ZlcgXYc\j gfi cXj Zfej\Zl\eZ`Xj jl]i`[Xj%É <jkX \j leX [\ cXj kXekXj ZfeZclj`fe\j \ogl\jkXj \e cfj XelXi`fj [\ IJ< gi\j\ekX[fj gfi \dgi\jXj p Zfe$ jlckfiXj \e )''0% J\^ e \jkfj `e$ ]fid\j# cX XcXidX jfZ`Xc jli^\ Zfe \c ZfefZ`d`\ekf g Yc`Zf [\ cXj \ofiY`kXek\j i\dle\iXZ`fe\j p Yfelj i\Z`Y`[fj gfi cfj [`i\Zk`mfj p Zfej\a\ifj [\ cXj ZfdgX Xj [liXek\ cX Zi`j`j% CX kiXjZ\e[\e$ Z`X [\ \jkXj gi}Zk`ZXj \j cf hl\ _X ^\e\iX[f le `eZi\d\ekf [\ cX [\jZfeÔXeqX \e cXj `ejk`klZ`fe\j \dgi\jXi`Xc\j% G\if \j `dgfikXe$ k\ j\ XcXi hl\ \jkX [\jZfeÔXeqX kXdY` e j\ _X \ok\e[`[f gfi \c dle[f \dgi\jXi`Xc% 8c i\jg\Zkf# gf[\dfj fYj\imXi cfj i\jlckX[fj [\c <[\cdXe Kiljk 9Xifd\k\i Zf$ ii\jgfe[`\ek\ Xc \a\iZ`Z`f )''0% <jk\ \jkl[`f Zfej`jk\ \e cX Zfe$ jlckX X +%''' c [\i\j [\ fg`e` e \e )' gX j\j jfYi\ cX j`klXZ` e [\ cXj \dgi\jXj ]i\ek\ X cX jfZ`\[X[% J\^ e jlj i\jlckX[fj# d`\ekiXj hl\ \c -) [\ cX gfYcXZ` e X e`m\c ^cfYXc Zfe] X d\efj \e cXj \d$ gi\jXj hl\ _XZ\ le X f# \e <jgX$ X \jk\ gfiZ\ekXa\ ki\gX _XjkX \c -. % 8j d`jdf# cfj XZfek\Z`d`\e$ kfj [\ cfj ck`dfj k`\dgfj _Xe `dgcXekX[f \e cX jfZ`\[X[ cX g\i$

Z\gZ` e [\ hl\ cX Zi`j`j _X j`[f \c i\jlckX[f [\c \^f jdf p [\ cX ]XckX [\ Zfdgifd`jf jfZ`Xc [\ cfj X[d`e`jkiX[fi\j [\ cXj ^iXe[\j \dgi\jXj# \jg\Z`Xcd\ek\ \e \c j\Zkfi ÔeXeZ`\if% J`e \dYXi^f# \j `ek\i\jXek\ j\ XcXi hl\ \e <jgX$ X cX g i[`[X [\ ZfeÔXeqX ef _X X]\ZkX[f X kf[fj cfj j\Zkfi\j gfi `^lXc% D`\ekiXj hl\ cXj \dgi\jXj [\ jld`e`jkif [\ X^lXj p j\im`$ Z`fj Y}j`Zfj XcZXeqXe le ^iX[f [\ ZfeÔXeqX [\c .. # \c \jkXcc`[f [\ cX YliYlaX `edfY`c`Xi`X \e \jk\ gX j _X _\Z_f hl\ cfj j\Zkfi\j [\ cX ZfejkilZZ` e p \c `edfY`c`Xi`f j\Xe cfj hl\ \e]i\ek\e \c d\efi e`m\c [\ ZfeÔXeqX% <c j\Zkfi ÔeXe$ Z`\if# gfi jl gXik\# \j g\iZ`Y`[f Zfdf \c gi`eZ`gXc i\jgfejXYc\ [\ cX j`klXZ` e \Zfe d`ZX XZklXc p kXdY` e _X jl]i`[f le \c\mX[f e`$ m\c [\ [\jZfeÔXeqX% =`eXcd\ek\# \c <[\cdXe Kiljk 9Xifd\k\i `e$ [`ZX hl\ \c j\Zkfi [\ cX YXeZX _X j`[f \c hl\ _X jl]i`[f cX d\idX [\ ZfeÔXeqX d}j XYilgkX# Zfe le [\jZ\ejf [\ (( glekfj gfi$ Z\eklXc\j% <jkf \j le j ekfdX [\ hl\ cX fg`e` e g Yc`ZX `[\ek`ÔZX Xc j\Zkfi YXeZXi`f \jgX fc Zfdf gXiZ`Xcd\ek\ ZlcgXYc\ [\c XZklXc Zfek\okf \Zfe d`Zf% G\if [\ekif [\ cfj `e]fid\j d}j i\c\mXek\j kXdY` e [\Y\$ dfj j\ XcXi Xc Dfe`kfi @Y\o*, JljkX`eXY`c`kp# hl\ \j leX Zfe$ jlckX i\Xc`qX[X \eki\ cfj i\jgfe$ jXYc\j [\ IJ< [\ cXj \dgi\jXj hl\ Zfdgfe\e \c @Y\o *,% <e \jk\ `e]fid\ j\ gfe\ [\ dXe`Ô\jkf \c Ôid\ Zfem\eZ`d`\ekf [\ cfj ^\j$ kfi\j hl\ cXj [`ÔZlckX[\j \Zfe $

d`ZXj XZklXc\j ef mXe X gifmfZXi leX g i[`[X [\ `ek\i j gfi cX Zfek`el`[X[ [\ Zfe[lZkXj XÔe\j X cX IJ< \e jlj Zfd$ gX Xj% Le Yl\e \a\dgcf [\ \jkf \j hl\ [liXek\ cfj [fj ck`dfj X fj j\ _X gif[lZ`[f le `eZi\d\ekf [\c (*- \e \c e $ d\if [\ ZfdgX Xj [\ekif [\ cXj ('' d}j ^iXe[\j hl\ glYc`ZXe `e]fid\j [\ IJ< [\ dXe\iX `e$ [\g\e[`\ek\% 8ZklXcd\ek\# -* [\ cXj ('' dXpfi\j ZfdgX Xj \j$ gX fcXj glYc`ZXe `e]fid\j jfYi\ IJ<% <jk\ \j le ZcXif `e[`ZX[fi [\ cX `dgfikXeZ`X hl\ _Xe Xjld`[f \jkXj gi}Zk`ZXj p hl\# X e \e le Zfek\okf X[m\ijf# j\ mXe Zfejfc`$ [Xe[f \e \c dle[f \dgi\jXi`Xc% I\jgl\jkX \dgi\jXi`X <c `e]fid\ d}j gi\jk`^`fjf \e dXk\i`X [\ IJ< \e <jgX X# glYc`$ ZX[f gfi cX =le[XZ` e 8ck\ieXk`mXj Zfe cX ZfcXYfiXZ` e [\ cX Le`m\ij`$ [X[ [\ : i[fYX# _X `[\ek`ÔZX[f ki\j k\dXj hl\ _Xe k\e`[f leX \jg\Z`Xc i\c\mXeZ`X \e \c ck`df X f1 cX \Zfefd X jfjk\e`Yc\# cXj i\\jkilZkliXZ`fe\j \dgi\jXi`Xc\j p cX ^\jk` e [\c X_fiif% J\^ e jl g\ijg\Zk`mX# \e \jk\ ck`df X f \c k\dX [\ cX \Zfefd X jfjk\e`Yc\ _X k\e`[f leX \ogXej` e hl\ _X X]\ZkX[f X kf[fj cfj }dY`kfj [\c dle[f \dgi\jXi`Xc p hl\# X g\$ jXi [\ cXj [`]\i\eZ`Xj hl\ \o`jk\e

gXiX Zfej\ejlXi leX [\Ôe`Z` e p ÔaXi \c ZfeZ\gkf# j \o`jk\ leX$ e`d`[X[ \e hl\# [\ leX ]fidX l fkiX# j\i} \c dXiZf \e \c hl\ [\$ Y\i} [\jXiifccXij\ cX \Zfefd X \jgX fcX [liXek\ cfj gi o`dfj X fj% Cfj fkifj [fj k\dXj jfe Xc^f d}j kXe^`Yc\j% Lef [\ \ccfj k`\e\ le ZcXif \e]fhl\ j\Zkfi`Xc# m`eZlcX[f Xc Zfek\okf \Zfe d`Zf# Zfdf cf \j cX ^\jk` e [\c X_fiif2 p \c fkif# cX i\\jkilZkliXZ` e [\ \d$ gi\jXj# \jk} Z\ekiX[f \e Xjg\Zkfj hl\ jfe \jg\Z`Xcd\ek\ j\ej`Yc\j gXiX \c }i\X [\ i\Zlijfj _ldX$ efj# Xlehl\ cX gcXe`ÔZXZ` e \jkiX$ k ^`ZX kXdY` e j\ \eZl\ekiX dlp i\cXZ`feX[X X \jk\ glekf% <j `ek\$ i\jXek\ j\ XcXi hl\ Yl\eX gXik\ [\c dle[f \dgi\jXi`Xc \jgX fc Zf`eZ`[\ \e i\ZfefZ\i hl\ j\ _Xe Zfd\k`[f \iifi\j \e cXj ^\jk`fe\j [\ XdYfj j\Zkfi\j i\Xc`qX[Xj \e \c gXjX[f g\if hl\# Xlehl\ dl$ Z_fj [\ \jfj \iifi\j \jk}e ZcXifj# \c ZXd`ef gXiX \ed\e[Xicfj gfi

X_fiX j\ Zfdgfe\ [\ jfclZ`fe\j gXiZ`Xc\j# pX hl\ kf[Xm X ef j\ m`jcldYiX leX i\jgl\jkX ^cfYXc hl\ g\id`kX d`e`d`qXi cfj `dgXZ$ kfj e\^Xk`mfj gifg`fj [\ cX j`klX$ Z` e [\ Zi`j`j% KXdY` e# [\ \jk\ d`jdf `e]fi$ d\# \j `cljkiXk`mf j\ XcXi Xc^leXj [\ cXj d\[`[Xj \e \c }dY`kf [\ cX I\jgfejXY`c`[X[ JfZ`Xc <dgi\$ jXi`X hl\ _Xe kfdX[f Xc^lefj j\Zkfi\j# \e m`jkXj Xc ]lklif% Gfi \a\dgcf# \e \c j\Zkfi kli jk`Zf# lef [\ cfj d}j [`e}d`Zfj [\ <jgX X \e cfj ck`dfj X fj# j\ _X fkfi$ ^X[f leX gXik`ZlcXi `dgfikXeZ`X X cfj Xjlekfj [\ Z\ik`ÔZXZ`fe\j p [`i\Zki`Z\j% <c [\jXiifccf [\ gif$ ^iXdXj [\ Z\ik`ÔZXZ` e# j\^ e efidXj p Zi`k\i`fj `ek\ieXZ`feX$ c\j# gl\[\ Xpl[Xi X ^XiXek`qXi cX jfjk\e`Y`c`[X[ [\ cX `e[ljki`X kli jk`ZX% <jkfj gif^iXdXj _Xe g\id`k`[f X cXj \dgi\jXj i\[lZ`i Zfjk\j# gi`eZ`gXcd\ek\ Xhl\ccfj i\cXZ`feX[fj Zfe \c d\[`f Xd$ Y`\ek\# Zfdf \c X_fiif [\ X^lX p \e\i^ X p cX d`e`d`qXZ` e [\ i\j`$ [lfj% Gfi fkiX gXik\# j\ _X \e]X$ k`qX[f \e i\[fYcXi cfj \j]l\iqfj i\Xc`qX[fj gfi cXj ZfdgX Xj gXiX gi\m\e`i cX \ogcfkXZ` e j\olXc \e [\jk`efj kli jk`Zfj% <e \jk\ j\e$ k`[f [\jkXZXe `e`Z`Xk`mXj Zfdf \c : [`^f k`Zf dle[`Xc gXiX \c kli`jdf f \c : [`^f [\ Zfe[lZkX

-(

<dgi\jXj p :fdle`[X[

gXiX cX gifk\ZZ` e [\ cX `e]XeZ`X ]i\ek\ X cX \ogcfkXZ` e j\olXc \e \c kli`jdf p cX `e[ljki`X [\ m`Xa\j% 8j d`jdf# \e \c j\Zkfi kli jk`Zf j\ c\ gi\jkX leX \jg\Z`Xc Xk\eZ` e X cX `e`Z`Xk`mX <li\bX Kfli`jd# \e$ dXiZX[X [\ekif [\c gif^iXdX \lifg\f <li\bX p c`[\iX[X gfi <j$ gX X# hl\ YljZX [\Ôe`i c e\Xj [\ [\jXiifccf fi`\ekX[Xj X cX d\afiX jfjk\e`Yc\ [\c kli`jdf# \c fZ`f p cX ZlckliX% =`eXcd\ek\# kXdY` e j\ _X ÔaX[f hl\ cX i\dle\iXZ` e alj$ kX p cX f]\ikX [\ m\ekXaXj jfZ`Xc\j gXiX cfj \dgc\X[fj f ZfekiXk`jkXj cfZXc\j i\gi\j\ekXe le Xjg\Zkf Z\ekiXc [\ cX i\jgfejXY`c`[X[ [\ cXj \dgi\jXj kli jk`ZXj% Fkif }dY`kf \e \c ZlXc j\ _Xe \j$ kXYc\Z`[f ]l\ik\j c`e\Xd`\ekfj _X

j`[f \e \c [\c KiXejgfik\ 8 i\f% <c gi`d\i Xjg\Zkf i\]\i`[f \e ZlXekf X cXj i\jgfejXY`c`[X[\j jfZ`Xc\j hl\ [\Y\ X]ifekXi \jk\ j\Zkfi \j \c [\ d`e`d`qXi \c `d$ gXZkf XdY`\ekXc% Cfj \]\Zkfj [\ \jkX `e[ljki`X jfYi\ \c d\[`f eX$ kliXc jfe d}j hl\ Zfej`[\iXYc\j p cXj \d`j`fe\j [\ o`[fj e`kifjfj EFo # Zfdgl\jkfj fi^}e`Zfj mf$ c}k`c\j# dfe o`[f [\ ZXiYfef :F p gXik ZlcXj j c`[Xj \d`k`[Xj gfi cfj Xm`fe\j jfe cfj gi`eZ`gXc\j Zfdgl\jkfj hl\ X]\ZkXe X cX ZX$ c`[X[ [\c X`i\% Gfi \jk\ dfk`mf# j\ _Xe \jk`glcX[f gcXe\j [\ i\[lZ$ Z` e p \jk dlcfj Xc [\jXiifccf [\ k\Zefcf^ Xj c`dg`Xj Zfdf gXlkXj gi`eZ`gXc\j% :feZclj`fe\j =`eXcd\ek\# gf[\dfj j\ XcXi Xc^leXj ZfeZclj`fe\j hl\ efj [\aXe \jkfj `e]fid\j \e kfief X cX \og\i`\eZ`X [\ cX IJ< \jgX fcX \e k`\dgfj [\ Zi`j`j p hl\ gl\[\e j\i jldXd\ek\ ZfejkilZk`mXj \e m`jkXj Xc ]lklif% <eki\ cXj gi`eZ`gX$ c\j [\Y\dfj [\jkXZXi hl\1 <c [\j\dg\ f [\ cXj ZfdgX$ Xj \jk} \jg\Z`Xcd\ek\ Y`\e mX$ cfiX[f \e ZlXekf X cX ZXc`[X[ [\ cfj gif[lZkfj p \c i\jg\kf gfi cfj [\i\Z_fj _ldXefj cXYfiXc\j# XdY`\ekXc\j# \kZ% % <c Yl\e ^fY`\ief# cX k`ZX p cX `ek\^i`[X[ jfe# j\^ e cfj \jg\Z`X$ c`jkXj# cfj gi`eZ`gXc\j k\dXj hl\ [\Y\i Xe \jkXi _fp gi\j\ek\j \e cX X^\e[X [\ IJ< [\ cXj \dgi\jXj% CXj FE> p cXj `ejk`klZ`fe\j `e$ k\ieXZ`feXc\j jfe cfj fi^Xe`jdfj hl\ [\jg`\ikXe dXpfi ZfeÔXeqX \eki\ cfj ZfejlckX[fj# d`\ekiXj hl\ cfj gXik`[fj gfc k`Zfj jfe cXj `ejk`klZ`fe\j hl\ ^fqXe [\ d\efi ZfeÔXeqX jfZ`Xc% J\^ e cfj ^\jkfi\j [\ IJ<# cfj

-)

XZX[ d`Zfj p cX gi\ejX \jg\Z`Xc`$ qX[X jfe cXj ]l\ek\j [\ `e]fidX$ Z` e d}j ÔXYc\j \e dXk\i`X [\ IJ<% 8 jl m\q# dlZ_fj [\ \jkfj Zf`eZ`[\e \e hl\ cX `e]fidXZ` e glYc`ZX[X gfi cXj ZfdgX Xj jf$ Yi\ IJ< f jljk\ekXY`c`[X[ \j kf$ [Xm X `ejlÔZ`\ek\% CXj ZfdgX Xj \jgX fcXj XZ$ k Xe [\ le df[f d}j i\jgfejXYc\ XZklXcd\ek\ hl\ _XZ\ Z`eZf X fj# p j\ \jk`dX hl\ cX IJ< i\Z`Y`i} d}j Xk\eZ` e gfi gXik\ [\ cX XckX [`i\ZZ` e [\ cXj \dgi\jXj \e cfj gi o`dfj ki\j X fj% Cfj gi`eZ`gX$ c\j i\]\i\ek\j fg`eXe hl\ X g\jXi [\ cX Zi`j`j \Zfe d`ZX# cXj ZfdgX$ Xj \jgX fcXj p cXj Xlkfi`[X[\j ^lY\ieXd\ekXc\j dXek\e[i}e f `eZi\d\ekXi}e jl `ek\i j gfi kf[f cf i\cXZ`feX[f Zfe cX IJ:% :fdf m\dfj# cX g\ijg\Zk`mX ^\e\iXc# X e \e \c Zfek\okf [\ Zi`j`j# \j hl\ cX gi`eZ`gXc i\jgfe$ jXY`c`[X[ [\ cXj \dgi\jXj Zfe cX jfZ`\[X[ \j [\[`ZXij\ X _XZ\i Xhl\ccf hl\ jXY\e _XZ\i% Ef \j e\Z\jXi`X cX ÔcXekifg X gXiX i\Zl$ g\iXi cX ZfeÔXeqX# j`ef hl\# gfi \c ZfekiXi`f# cfj jkXb\_fc[\ij mXcf$ iXe d}j \c Zfii\Zkf Zldgc`d`\e$ kf [\ jlj ]leZ`fe\j gi`dfi[`Xc\j cc\mX[Xj X ZXYf Zfe Zfdgifd`jf% P \jk\ Zfdgifd`jf [\Y\ j\i dlc$ k`[`d\ej`feXc \ `emfclZiX X cfj Zfejld`[fi\j# f]i\Z` e[fc\j le gif[lZkf [\ ZXc`[X[# kiXejgXi\e$ Z`X \ `e]fidXZ` e2 X cfj \dgc\X$ [fj# Yi`e[}e[fc\j Zfe[`Z`fe\j cXYfiXc\j aljkXj p ZfejkilZk`mXj2 Xc i\jg\kf gfi \c d\[`f XdY`\ek\# ^XiXek`qXe[f cX jljk\ekXY`c`[X[2 p X cX `ek\^i`[X[ dfiXc p cX k`ZX \dgi\jXi`Xc% <jkX \j cX m\i[X[\iX I\jgfejXY`c`[X[ JfZ`Xc <dgi\jX$ i`Xc p cX Zi`j`j# Zfdf dlZ_Xj fkiXj m\Z\j# efj g\id`k\ m\i d}j ZcXiX$ d\ek\ cX \j\eZ`X [\ cXj ZfjXj%

<dgi\jXj p :fdle`[X[

CX `e[ljki`X p \c d\[`f XdY`\ek\# dlp c\afj [\ cX Xek`efd`X Le i\Zfii`[f [\j[\ cX J\^le[X >l\iiX Dle[`Xc p cXj Zfej\Zl\eZ`Xj [\ cX `e[ljki`Xc`qXZ` e p \c Zfejldf jfYi\ \c d\[`f \e hl\ m`m`dfj# _XjkX cX IJ< p cX ZfeZ`\ek`qXZ` e hl\ Xd`^ X cXj \dgi\jXj Zfe \c gcXe\kX Gif]% DXli`Z`f ? Zkfi C`Yjk\i Gif]\jfi le`m\ij`kXi`f p XYf^X[f \jg\Z`Xc`jkX \e k\dXj \dgi\jXi`fj

<

e cfj ck`dfj X fj j\ _X Zfe$ jfc`[X[f Zfe ]l\iqX leX [\ cXj d}j `dgfikXek\j p efm\[fjXj gXlkXj [\ cX ZlckliX ZfigfiXk`mX1 cX i\jgfejXY`c`[X[ jfZ`Xc \dgi\jXi`X% P ef ZXjlXcd\ek\ lef [\ cfj k\dXj hl\ _XZ\e X jl Zfek\e`[f j\ i\cX$ Z`feX Zfe cX gifk\ZZ` e [\c d\[`f XdY`\ek\ p cX kXi\X g\[X^ ^`ZX [\ [`]le[`i cXj XZk`m`[X[\j Xc i\jg\Zkf p \ej\ Xi X kiXm j [\ cX `e]fidXZ` e XdY`\ekXc# ZlXekf d\efj X hl`\e\j j\ \eZl\ekiXe [\ Xc^ e df[f [\e$ kif [\c }i\X [\ `eÕl\eZ`X% J` k\e\dfj ZcXif \e hl Zfej`jk\e _fp cfj gifYc\dXj XdY`\ekXc\j d}j XZlZ`Xek\j Æ\c ZXc\ekXd`\ekf ^cfYXc#

-+

cX [\j\ik`qXZ` e# cX ZfekXd`eXZ` e [\ jl\cfj# X`i\ p X^lXj# \kZÆ p jlj \]\Zkfj \e \c ZXdY`f Zc`d}k`Zf# _fp pX `e[`j`dlcXYc\ [X[Xj jlj dXe`$ ]\jkXZ`fe\j g\idXe\ek\j \e cX m`[X d`jdX [\ dlZ_Xj Zfdle`[X[\j [\c gcXe\kX# \j `e\oZljXYc\ leX d`iX[X _XZ`X Xki}j \e \c k`\dgf gXiX [\k\i$ d`eXi jl fi`^\e% P \e \j\ gifZ\jf _XYi\dfj [\ [\k\e\iefj \e \c g\i f[f [\ cX gfj$ ^l\iiX [\ cX J\^le[X >l\iiX Dle$ [`Xc# \e ZlXc j\ m\ X le dle[f gXi$ Z`Xcd\ek\ [\jkil [f# e\Z\j`kX[f [\ i\ZfejkilZZ` e# ZXi\ek\ [\ Y`\e\j p j\im`Z`fj p Zfe `e[ljki`Xj i\Zfem\ik`$ [Xj X cX XZk`m`[X[ Y c`ZX# X cXj ZlXc\j _Xp hl\ mfcm\i X ZfcfZXi \e Zfe[`Z`f$ e\j XgkXj gXiX cX m`[X Z`m`c p gXiX cfj li^\ek\j p dXj`mfj i\hl\i`d`\ekfj [\ d`ccfe\j# e\Z\j`kX[fj [\ kf[f% @e[l[XYc\d\ek\# i\Zfejkil`i \c dle[f `dgc`Z leX \efid`[X[ [\ i\Zlijfj dXk\i`Xc\j hl\ gl[`\j\e jXk`j]XZ\i cXj e\Z\j`[X[\j [`m\ijXj p ZlXek`fjXj hl\ _XY X ^\e\iX[f cX >iXe >l\iiX% P \jkf `dgc`Z le [\j$ ZfdleXc XmXeZ\ jfYi\ cfj i\Zlijfj eXkliXc\j j`e gcXe`ÔZXZ` e p j`e d\[`[X# gfihl\ X[\d}j# \c dle[f ZXi\Z X X \j\ dfd\ekf [\ cf hl\ _fp gf[i Xdfj ccXdXi ZfeZ`\eZ`X XdY`\ekXc% CXj ]}Yi`ZXj mfcm`\ife X i\Zfem\i$ k`ij\# jlj Z_`d\e\Xj mfcm`\ife X \o$ g\c\i \c _ldf# j dYfcf kiX[`Z`feXc [\c gif^i\jf2 cfj Yfjhl\j Zfd\eqXife X j\i kXcX[fj el\mXd\ek\2 cfj d`e\$ iXc\j \okiX [fj2 kf[f \e leX d\[`[X

XZfi[\ Zfe cX dXj`mX e\Z\j`[X[ _l$ dXeX i\dXe\ek\ [\ cX ^l\iiX% G\if \jk\ k`\dgf _`jk i`Zf kXd$ Y` e `dgc`Z leX XZ\c\iXZ` e \e \c gif^i\jf k\Zefc ^`Zf# ]ilkf [\ cX `em\jk`^XZ` e# hl\ hl`q}j gfi _XY\i Zfd\eqX[f X gif[lZ`i Y`\e\j hl\ jlg\iXYXe cfj Y}j`Zfj gifg`fj [\ cX e\Z\j`[X[ li^\ek\# i\hl`i`\ife [\ \jk dlcfj [\c _fp ccXdX[f ÈdXib\$ k`e^É gXiX gifg`Z`Xi jl Zfejldf \ `i Zfem`ik` e[fj\ gXlcXk`eXd\ek\ \e Y`\e\j e\Z\jXi`fj# j`e e`dfj [\ leX ZlckliX hl\ kXdY` e gif^i\jXYX p hl\ `YX \ei`hl\Z`\e[f# ef j cf ZlXe$ k`kXk`mXd\ek\# \c ZfeZ\gkf _ldXef [\ ZXc`[X[ [\ m`[X% P kXdY` e Zfdf i\jlckX[f [\ kf[f cf [`Z_f# Zfd\eq \c ]\e $ d\ef [\ cX ZfekXd`eXZ` e gif$ [lZ`\e[f# \eki\ fkiXj Zfej\Zl\e$ Z`Xj `^lXcd\ek\ [X fjXj# Z`\ikXj df[`ÔZXZ`fe\j X \Zfj`jk\dXj X]\ZkX[fj gfi cXj Zfej\Zl\eZ`Xj [\c XmXjXccXd`\ekf eXkliXc# p# jf$ Yi\ kf[f# gfi cX XgXi`Z` e [\ cfj i\j`[lfj \d\i^\ek\j [\ cfj gif$ Z\jfj [\ `e[ljki`Xc`qXZ` e% <jk\ gifZ\jf Zfek`e X _XjkX _fp# ZlXe[f d}j hl\ eleZX \c ZfeZ\gkf [\ ZXc`[X[ [\ m`[X# kXc Zfdf df[\i$ eXd\ek\ j\ cf \ek`\e[\# [\g\e[\ \e leX \efid\ d\[`[X [\ cX gif[lZ$ Z` e `e[ljki`Xc# \c XmXeZ\ k\Zefc ^`Zf p cXj XZk`m`[X[\j [\ j\im`Z`fj% G\if X]fikleX[Xd\ek\ [\j$ [\ Xc^lefj X fj X \jkX gXik\# j\ Zfd`\eqX X [Xi le ]\e d\ef [\ ZfeZ`\ek`qXZ` e# gi\Z`jXd\ek\

\e cfj j\Zkfi\j [\ cX i\Xc`[X[ hl\ j\^ e \c \jhl\dX hl\ [\jXiifccf# i\jlckXife cfj ÈZXljXek\jÉ [\ cfj \]\Zkfj ef hl\i`[fj hl\# \e gXik\# i\]\i\eZ`Xdfj Xc Zfd`\eqf1 \c [\ cXj \dgi\jXj# [\ekif [\ cXj ZlXc\j j\ gif[lZ\ _fp \c 00 [\ cX XZk`m`$ [X[ \Zfe d`ZX [\c dle[f% <jkX kfdX [\ ZfeZ`\eZ`X Zf$ d`\eqX gfi cX `ejkXcXZ` e gif^i\$ j`mX p ZX[X m\q d}j \ÔZ`\ek\ [\ j`jk\dXj [\ kiXkXd`\ekf [\ i\j`$ [lfj p \Õl\ek\j# hl\ XglekXe X cX dXpfi f kfkXc `efZl`[X[ [\ cfj d`jdfj# cX `ejkXcXZ` e [\c Zfe$ Z\gkf [\ cX ZXc`[X[ XdY`\ekXc \e cfj gifZ\jfj [\ gif[lZZ` e# _fp le i\hl`j`kf `e[`jg\ejXYc\ gXiX cX Z\c\YiXZ` e [\ dlZ_ j`dfj e\$ ^fZ`fj X e`m\c `ek\ieXZ`feXc p hl\ Zlcd`eX Zfe \jk\ jXef p i\mfcl$ Z`feXi`f ZfeZ\gkf `ejkXcX[f \e cX

ZlckliX ZfigfiXk`mX hl\ j\ ZfefZ\ Zfdf i\jgfejXY`c`[X[ jfZ`Xc \d$ gi\jXi`X p hl\# Zfdf jl [\efd`$ eXZ` e cf `e[`ZX# `dgc`ZX Xjld`i ]i\ek\ X j p X cX Zfdle`[X[ cXj `dgc`ZXZ`fe\j# \e \jk\ ZXjf Xd$ Y`\ekXc\j# [\ cfj gifZ\jfj gif$ g`fj# \jkXYc\Z`\e[f d\ZXe`jdfj klk\cXi\j [\c XdY`\ek\ ] j`Zf p _l$ dXef Z`iZle[Xek\ hl\ k\id`eXe i\gi\j\ekXe[f# X[\d}j# le ]l\ik\ j dYfcf gXiX cX Zfdle`[X[ kf[X% <c XZ\iZXd`\ekf Xc d\[`f `dgc`ZX ef j cf cX Zfeki`YlZ` e dXk\i`Xc Xc jXe\Xd`\ekf [\c d\[`f ] j`Zf# [\ cX jXcl[ [\ cXj g\ijfeXj p [\ jl ZXc`[X[ [\ m`[X j`ef cX kXi\X [\ [`]le[`i Zfe$ Z\gkfj Z\ekiXc\j hl\ _X^Xe hl\ \jX d`jdX Zfdle`[X[ gl\[X Zfek`elXi gifk\^`\e[f p \ok\e[`\e[f \j\ Zl`$ [X[f [\c XdY`\ek\ \e hl\ _XY`kXe p Xc [\ Xhl ccfj jfYi\ \c ZlXc [\ Xc^ e

df[f `eÕlp\e% 8j hl\[X kfkXcd\ek\ [\jm`i$ klX[X cX ]XcjX Xek`efd`X \eki\ \c `e[ljki`Xc`jdf p XdY`\ekXc`jdf# \e cX hl\ cfj gi`d\ifj XZljXYXe X cfj fkifj [\ hl\i\i i\kfieXi X leX jfZ`\[X[ gi`d`k`mX p gXjkfi`c# p jkfj# `ek\ekXYXe i\jgfejXY`c`qXi X cfj gi`d\ifj [\ kf[fj cfj dXc\j [\ \jk\ dle[f% 8c ZfekXi`f# ^iXZ`Xj Xc ]\e d\ef [\ cX IJ<# \dg`\qX X Yi`ccXi \e jl m`^\eZ`X \c g`cXi ]le[Xd\ekXc [\c XdY`\ekXc`jdf df[\ief hl\ \j \c [\c [\jXiifccf jljk\ekXYc\1 Xgifm\$ Z_Xi [\ cfj i\Zlijfj [`jgfe`Yc\j YljZXe[f \c `e[`jg\ejXYc\ \hl`c`$ Yi`f \eki\ cfj [\i\Z_fj [\ cfj hl\ _XY`kXdfj \jk\ dle[f p [\c hl\ k`\e\e cXj ^\e\iXZ`fe\j m\e`[\$ iXj# hl\ ef [\Y\dfj ZfeZlcZXi e` Zfdgifd\k\i%

-,

<dgi\jXj p :fdle`[X[

I\Zfem\ij` e [\ Zlck`mfj \e ?lXcÔe p ef^Xc\j \e 8c[Xc^Xc}# gfi \c [\jXiifccf gif[lZk`mf

Le `em\ieX[\if g\ejX[f gXiX \[lZXi X cXj el\mXj ^\e\iXZ`fe\j

D@E<I8 8CLD9I<I8

8idfe X p kiXYXaf Zfealekf D`e\iX 8cldYi\iX# \c gi`d\i gifp\Zkf d`e\if [\ ^iXe \em\i^X[liX \e el\jkif gX j# ZfeZi\kX `em\ij`fe\j [\ cXi^f gcXqf \e gifp\Zkfj hl\ gifgfiZ`feXe dXk\i`Xc\j Y}j`Zfj gXiX \c [\jXiifccf jfZ`Xc p \Zfe d`Zf [\ cXj Zfdle`[X[\j gi o`dXj X cXj fg\iXZ`fe\j% CX d\kX1 `em\ik`i \e cX X[hl`j`Z` e [\ _XY`c`[X[\j p \e \c cf^if [\ Y\e\ÔZ`fj \Zfe d`Zfj p [\ [\jXiifccf jfZ`Xc hl\ jfYi\m`mXe X cX XZk`m`[X[ d`e\iX

--

9

Xaf [\ cX 8cldYi\iX \j lef [\ cfj gi`eZ`gXc\j pXZ`d`\e$ kfj [\ ZfYi\ p fif hl\ j\ \ogcfkX \e cX 8i^\ek`eX [\j[\ (00.% J\ \eZl\ekiX lY`ZX[f Xc efif\jk\ [\ cX gifm`eZ`X [\ :XkXdXiZX# X leX XckliX [\ )%-'' djed% Cfj [\i\Z_fj [\ \ogcfiXZ` e p \o$ gcfkXZ` e g\ik\e\Z\e X PXZ`d`\e$ kfj D`e\ifj [\ 8^lXj [\ ;`fe`j`f PD8; # leX jfZ`\[X[ `ek\^iX[X gfi cX gifm`eZ`X [\ :XkXdXiZX# cX Le`m\i$ j`[X[ EXZ`feXc [\ KlZld}e p \c \j$ kX[f eXZ`feXc% PD8; _X Zfejk`kl`[f leX le` e kiXej`kfi`X [\ \dgi\jXj Zfe D`e\iX 8cldYi\iX gXiX cX \o$ gcfkXZ` e [\c pXZ`d`\ekf gfi \c ZlXc g\iZ`Y\ \c )' [\ cXj lk`c`[X[\j% <c fg\iX[fi gi`eZ`gXc \j \c ^ilgf d`$ e\if [`m\ij`ÔZX[f OjkiXkX# Zfe j\[\ \e Jl`qX# \c ZlXc gfj\\ ,' [\c gX$ hl\k\ XZZ`feXi`f# d`\ekiXj hl\ cXj \dgi\jXj ZXeX[`\ej\j >fc[Zfig p PXdXeX >fc[ Zl\ekXe Zfe *.#, p ()#, i\jg\Zk`mXd\ek\% <e D`e\iX 8cldYi\iX# gifZliXdfj

Cfj _fjg`kXc\j# leX gi\d`jX

dXek\e\i le \hl`c`Yi`f \eki\ cfj Y\$ e\ÔZ`fj g\iZ`Y`[fj gfi cX \dgi\jX p cfj ^\e\iX[fj gXiX cfj ^ilgfj [\ `ek\i j# X Ôe [\ jfjk\e\i i\cXZ`fe\j Xidfe`fjXj X kiXm j [\c kiXYXaf Zfe$ alekf% :feki`Yl`dfj X le XdY`\ek\ jljk\ekXYc\# d\afiXe[f cX \ÔZ`\eZ`X [\ cX fg\iXZ` e p fgk`d`qXe[f \c ljf [\ i\Zlijfj eXkliXc\j% ;\j[\ \c `e`Z`f# _\dfj Xjld`[f \c Zfdgifd`jf [\ XZfdgX Xi \c [\jX$ iifccf [\ cXj Zfdle`[X[\j Xc\[X Xj%

8glekXdfj X `em\ik`i \e Zfdg\k\e$ Z`Xj# \e \c [\jXiifccf jfZ`Xc p \e Y\e\$ Ă”Z`fj \ZfeÂ?d`Zfj# XgfpXe[f g\hl\$ ÂŒXj `e[ljki`Xj cfZXc\j Zfe gfk\eZ`Xc# hl\ ef \jk}e c`^X[Xj X cX XZk`m`[X[ d`e\iX% CX gXik`Z`gXZ`Â?e [\ cX jfZ`\$ [X[ \e cX ^\e\iXZ`Â?e [\ gifp\Zkfj hl\ j\ \e]fhl\e \e \c Zi\Z`d`\ekf [\ cX qfeX p \c d\afiXd`\ekf [\ cX ZXc`$ [X[ [\ m`[X [\ jlj _XY`kXek\j XZfkX cXj [\dXe[Xj p \og\ZkXk`mXj gXiX Xjld`i cX i\jgfejXY`c`[X[ hl\ Zfd$ g\k\ X ZX[X lef [\ cfj `emfclZiX[fj# [\aXe[f Xc dXi^\e cX [\g\e[\eZ`X [\ cX ZfdgXŒˆX d`e\iX% CX Zfeki`Yl$ Z`Â?e _XZ`X cXj Zfdle`[X[\j kXdY`„e `eZclp\ cX Zi\XZ`Â?e [\ gl\jkfj [\ kiX$ YXaf# gi\jkXZ`fe\j \ `e^i\jfj Ă”jZXc\j# jXcXi`fj Zfdg\k`k`mfj p ZXgXZ`kXZ`Â?e% CX I\jgfejXY`c`[X[ JfZ`Xc \j leX ]fidX [\ ^\jk`Â?e hl\ Zfdgi\e[\ le Zfealekf [\ [\Z`j`fe\j mfclekXi`Xj Zfe \c Ă”e [\ Zfeki`Yl`i Xc [\jXiifccf jfZ`Xc# \ZfeÂ?d`Zf p XdY`\ekXc [\ dXe\iX jljk\ekXYc\% CX IJ \oZ\[\ \c Zldgc`d`\ekf aliˆ[`Zf p ef jljk`$ klp\ cX c\^`jcXZ`Â?e jfZ`Xc# \ZfeÂ?d`ZX e` XdY`\ekXc# pX hl\ ]leZ`feX Zfdf le j`jk\dX [\ i\jgfejXY`c`[X[\j ZfdgXik`[Xj \eki\ cfj [`]\i\ek\j XZkfi\j jfZ`Xc\j `emfclZiX[fj% <e D`e\iX 8cldYi\iX# \ek\e[\dfj gfi i\jgfejXY`c`[X[ jfZ`Xc \c Zfd$ gifd`jf mfclekXi`f [\ Zfeki`Yl`i Xc [\jXiifccf jfjk\e`Yc\# Zfe cX gXik`Z`$ gXZ`Â?e [\ jlj ^ilgfj [\ `ek\i„j# X Ă”e [\ d\afiXi cX ZXc`[X[ [\ m`[X [\ cX jfZ`\[X[ \e jl Zfealekf% :fejljkXeZ`X[fj Zfe \c ZfeZ\gkf [\ [\jXiifccf jfjk\e`Yc\# cc\mXdfj X[\cXek\ le Gif^iXdX :fdle`kX$ i`f \e el\jkiX qfeX [\ `eĂ•l\eZ`X \e cXj gifm`eZ`Xj [\ :XkXdXiZX p KlZld}e# d\[`Xek\ \c ZlXc Yi`e[X$ dfj Xgfpf k„Ze`Zf# Ă”eXeZ`\if p [\ ZXgXZ`kXZ`Â?e X gif^iXdXj c`^X[fj X cX jXcl[# cX \[lZXZ`Â?e# \c Xik\ p cX Zlc$ kliX# p \c [\jXiifccf gif[lZk`mf% Efj XgfpXdfj \e `ejk`klZ`fe\j cfZXc\j i\gi\j\ekXk`mXj gXiX cX ZfeZi\Z`Â?e [\ cfj gifp\Zkfj% <eki\ cfj gifp\Zkfj X^iˆZfcXj# kiX$

YXaXdfj \e cX ZfejkilZZ`�e [\ _l\ikXj# `em\ieX[\ifj p ^iXeaXj \jZfcXi\j# d`Zif\dgi\e[`d`\ekfj# i\Zfem\ij`�e mXi`\kXc [\ Zlck`mfj cfZXc\j# fYiXj _ˆ[i`ZXj p ZXgXZ`$ kXZ`�e gXiX gif[lZkfi\j% <e \[l$ ZXZ`�e# gifdfm\dfj gcXe\j [\ d\afiX \[lZXk`mX gXiX [fZ\ek\j# gi}Zk`ZXj i\ekX[Xj gXiX Xcldefj# fYiXj [\ `e]iX\jkilZkliX p gifm`$ j`�e [\ dXk\i`Xc [`[}Zk`Zf% <e \c }i\X [\ jXcl[# kXdY`„e _Xp le gcXe [\ fYiXj \e _fjg`kXc\j gXiX d\af$ iXi cX `e]iX\jkilZkliX# df[\ie`qXi \hl`gXd`\ekf k\Zefc�^`Zf# gifm\\i `ejldfj Ziˆk`Zfj X _fjg`kXc\j p gfjkXj jXe`kXi`Xj# p Yi`e[Xi ZXgX$ Z`kXZ`�e gXiX d\afiXi cX ZXc`[X[ [\ Xk\eZ`�e [\ cfj gXZ`\ek\j%

ĂˆCX gXik`Z`gXZ`Â?e [\ cX jfZ`\[X[ \e cX ^\e\iXZ`Â?e [\ gifp\Zkfj hl\ j\ \e]fhl\e \e \c Zi\Z`d`\ekf [\ cX qfeX XZfkX cXj [\dXe[Xj p \og\ZkXk`mXj gXiX Xjld`i cX i\jgfejXY`c`[X[ hl\ Zfdg\k\ X ZX[X lef [\ cfj `emfclZiX[fj# j`e [\g\e[\eZ`X [\ cX ZfdgXŒˆX d`e\iXÉ

8Zl\i[fj Zfe ^fY`\iefj 8 gXik`i [\ )'',# `dgc\d\ekXdfj [fj XZl\i[fj jlZ\j`mfj Zfe cfj ^f$ Y`\iefj [\ :XkXdXiZX p KlZld}e gXiX cX i\Xc`qXZ`�e [\ fYiXj [\ Y`\e g’Yc`Zf Zfe \c Zfdgifd`jf [\ `e$ m\ik`i )+ d`ccfe\j \e :XkXdXiZX \e \[lZXZ`�e p jXcl[ p )( d`ccfe\j \e KlZld}e# \e cXj d`jdXj }i\Xj% <eki\ cXj ’ck`dX fYiXj# \e [`Z`\dYi\ [\ )''0 j\ `eXl^li� cX i\df[\cXZ`�e kfkXc [\c :\ekif [\ JXcl[ Q\e�e JXe$ k`cc}e# \e KlZld}e# jld}e[fj\ Xjˆ X cX c`jkX [\ fYiXj [\ ZfejkilZZ`�e p i\]XZZ`�e \e _fjg`kXc\j hl\ Zfd\eq�

KXcc\i [\ ifYÂ?k`ZX \e leX \jZl\cX [\ :XkXdXiZX

\e )''- \ `eZclp\ \c ?fjg`kXc GX[`ccX# \c 8m\ccXe\[X# [\c E`ÂŒf A\jÂ’j# [\c :Xi$ d\e p FYXii`f% <e \c :\ekif [\ JXcl[# gfi ZXjf# j\ `em`ik`\ife , d`ccfe\j gXiX cX Xdgc`XZ`Â?e# i\df[\cXZ`Â?e p i\]XZZ`Â?e [\ *%''' d)% <e cX gifm`eZ`X [\ :XkXdXiZX# gXi$ k\ [\ cfj ]fe[fj [\c XZl\i[f ]l\ife [\jk`eX[fj gXiX cX ZfejkilZZ`Â?e p i\$ ]XZZ`Â?e [\ cX \jZl\cX Gfc`df[Xc E— (0 [\ 9\c„e# leX \jZl\cX Zfe leX dXkiˆ$ ZlcX gXiX )''' \jkl[`Xek\j% KXdY`„e j\ `eXl^liÂ? le jXcÂ?e dlck`d\[`Xc \e cX =XZlckX[ [\ K\Zefcf^ˆX [\ cX Le`$ m\ij`[X[ [\ :XkXdXiZX% FkiX [\ cXj `dgfikXek\j fYiXj i\Xc`qX[Xj \e cX gifm`eZ`X ]l\ cX `eXl^liXZ`Â?e [\ leX jXcX [\ k\iXg`X `ek\ej`mX \e \c ?fjg`$ kXc QfeXc [\ 9\c„e# hl\ Zl\ekX X_fiX Zfe \hl`gXd`\ekf [\ Â’ck`dX k\Zefcf$ ^ˆX p g\id`k`i} hl\ leX dXpfi gfYcX$ Z`Â?e j\X Zfek\e`[X p Xk\e[`[X Z\iZX [\ jl cl^Xi [\ fi`^\e# \m`kXe[f Xjˆ jlZ\j`mfj kiXjcX[fj X cfj _fjg`kXc\j Z\ekiXc\j \e cX ZXg`kXc% <e jldX# cX \dgi\jX cc\mX `em\ik`[fj d}j [\ *' d`ccfe\j \e fYiXj [\ `e]iX\jkilZkliX [\ ^iXe \em\i^X[l$ iX# hl\ ^\e\iXe Y\e\Ă”Z`fj gXiX cfj _XY`kXek\j [\ cX qfeX% D`e\iX 8cldYi\iX _X j`[f \c gi`d\i gifp\Zkf d`e\if [\ \em\i^X[liX \e cX 8i^\ek`eX p \j leX ]l\ek\ [\ fgfikle`[X[\j p Y\e\Ă”Z`fj \ZfeÂ?$ d`Zfj gXiX \c gXˆj# \c Efif\jk\ p# \e \jg\Z`Xc# gXiX Xhl\ccXj Zfdle`[X$ [\j giÂ?o`dXj X jlj `ejkXcXZ`fe\j fg\iXk`mXj%

-.

<dgi\jXj p :fdle`[X[

:<IM<:<Ià8 P D8CK<I@8 HL@CD<J

CX `dgfikXeZ`X [\ cfj mXcfi\j jXcl[XYc\j# gXiX le dle[f d\afi :feZ`\ek`qXi jfYi\ cfj i`\j^fj [\ Y\Y\i XcZf_fc j`e df[\iXZ` e \j lef [\ cfj \a\j [\ jlj XZZ`fe\j% :\ekiX[fj \e jlj Zfejld`[fi\j# [\jXiifccXe gif^iXdXj hl\ X^ilgXe cX k\d}k`ZX [\c Zfejldf i\jgfejXYc\ p cX ]Xd`c`X# \eki\ \ccfj# cX m\ekX i\jgfejXYc\ X d\efi\j [\ \[X[

-/

<

e jl ()' Xe`m\ijXi`f# jl jl\ f \j j\i cX d\afi Zfd$ gX X [\ Z\im\qX \e le dle[f d\afi p# [\j[\ \jkX [\Ôe`$ Z` e# hl`\e\j `ek\^iXe :\im\Z\i X p DXck\i X Hl`cd\j \ek`\e[\e hl\ cX jljk\ekXY`c`[X[ ef \j le Zfe$ Z\gkf Xjg`iXZ`feXc# j`ef \c glekf [\ gXik`[X% È@em\ik`dfj d}j [\ +)' d`ccfe\j [\ [ cXi\j \e cfj ck`dfj ki\j X fj% Fg\iXdfj YXaf cfj d}j \jki`Zkfj \jk}e[Xi\j dle[`Xc\j [\ ZXc`[X[ p Zl`[X[f [\c d\[`fXdY`\ek\% Jf$ dfj leX ZfdgX X Z\ekiX[X \e \c Zfejld`[fi% Efj dXek\e\dfj \e ZfekXZkf Zfe c X kiXm j [\ el\j$ kiXj dXiZXj# Zi\Xe[f \og\i`\e$

Z`Xj hl\ d\qZc\e cX kiX[`Z` e Zfe cX `eefmXZ` e% :fdf c [\i\j [\ cX `e[ljki`X# ZfejkXek\d\ek\ g\ejX$ dfj \e f]i\Z\i el\mXj fgZ`fe\j X el\jkifj Zfejld`[fi\j \e kf[Xj cXj ZXk\^fi Xj [\ gif[lZkf \e cXj hl\ gXik`Z`gXdfj1 Z\im\qXj# ^X$ j\fjXj# X^lXj# al^fj \ `jfk e`Zfj% DXek\e\i cX gi\]\i\eZ`X [\c Zfe$ jld`[fi \j p j\i} \c dfkfi [\ kf$ [fj el\jkifj \j]l\iqfjÉ# Xj\^liX DXi`Xef 9fkXj# m`Z\gi\j`[\ek\ [\ 8jlekfj :figfiXk`mfj [\ :\im\Z\$ i X p DXck\i X Hl`cd\j J\^ e jlj gXcXYiXj# Hl`cd\j \j dlZ_f d}j hl\ leX \dgi\jX hl\ `em`\ik\# gif[lZ\ p Zfd\iZ`Xc`qX Y\Y`[Xj% :fdf c [\i\j [\ cX `e[lj$

ki`X Xi^\ek`eX# cX [`d\ej` e jfZ`Xc \j dlp `dgfikXek\ gXiX \ccfj% ;\j$ [\ jl Zi\XZ` e# \e (/0'# _X j`[f g`fe\iX \e X^i\^Xi mXcfi X cX Zfdl$ e`[X[% <jk\ Zfdgifd`jf g\idXe\$ Z\ Zfdf le ZfeZ\gkf ^l X hl\ j\ _X `[f X[XgkXe[f X cXj ZXdY`Xek\j [\dXe[Xj [\ cX jfZ`\[X[% È:i\\dfj hl\ cf hl\ j\ gl\[\ jfjk\e\i \e \c k`\dgf \j Xhl\ccf hl\ ]Xmfi\Z\ X cX jfZ`\[X[ g\if hl\ kXdY` e Y\e\ÔZ`X X cX \d$ gi\jX% 8ZklXcd\ek\# cX XZZ` e Zfdle`kXi`X k`\e\ Zfdf fYa\k`mf XgfpXi gifp\Zkfj \e cXj }i\Xj [\ `eÕl\eZ`X [\ el\jkifj \jkXYc\Z`$ d`\ekfj `e[ljki`Xc\j% <jk} gfc k`ZX [\ ¡Yl\e m\Z`ef¡ j\ m\ gcXjdX[X \e \c gcXe [\ ¡=lklif Gfj`Yc\¡# hl\ X^ilgX XZk`m`[X[\j Zfdgif$ d\k`[Xj Zfe gifp\Zkfj [\ jXcl[ p \[lZXZ` e [\jk`eX[Xj X e` fj p a m\e\j [\ cXj Zfdle`[X[\j \e cX hl\ cXj :fdgX X k`\e\ jlj gcXe$ kXjÉ# ZfdgXik\ 9fkXj% 8j`d`jdf# \ek`\e[\e hl\ ZlXc$ hl`\i \j]l\iqf [\Y\ j\i ZfdgXik`$ [f Zfe cX ]Xd`c`X# \c >fY`\ief p \c i\jkf [\ cfj XZkfi\j jfZ`Xc\j# Zfdf FE> p \jZl\cXj% GXiX \ccfj# cXj Xc`XeqXj jfe ZcXm\ gXiX ^XiXek`qXi cX jljk\ekXY`c`[X[ p \c Yl\e o`kf [\ cfj gifp\Zkfj% 8j # gfi \a\dgcf# \e efm`\dYi\ [\ )''0# \c 9@; p cX LE<J:F [`jk`e^l`\ife \c gifp\Zkf :fejkilp\e[f :`l[X[Xe X# i\Xc`qX$ [f \e Zfealekf Zfe :@GG<:# \eki\ -'' `e`Z`Xk`mXj [\ *' gX j\j# Zfdf leX [\ cXj ÈD\afi\j Gi}Zk`ZXj \e Gfc k`ZXj p Gif^iXdXj [\ Alm\ekl[ \e 8d i`ZX CXk`eX p \c :Xi`Y\É% CXj XZZ`fe\j hl\ i\Xc`qXe gXiX \m`kXi hl\ j\ Zfd\iZ`Xc`Z\e Y\$ Y`[Xj Zfe XcZf_fc X d\efi\j [\ \[X[# Zfeki`Yl`i X cX kfdX [\ Zfe$ Z`\eZ`X jfYi\ cX `eZfdgXk`Y`c`[X[ [\ ZfdY`eXi cXj XZZ`fe\j [\ Y\$ Y\i p Zfe[lZ`i# p cX gifdfZ` e [\ mXcfi\j jXcl[XYc\j# jfe cfj ]fZfj gi`eZ`gXc\j [\ el\jkifj \j]l\iqfj% 8j \j Zfdf# \e \c dXiZf [\ el\j$ kif gif^iXdX M`mXdfj I\jgfejX$ Yc\d\ek\# [\jXiifccXdfj [`]\i\e$

DXi`Xef 9fkXj# M`Z\gi\j`[\ek\ [\ 8jlekfj :figfiXk`mfj [\ Hl`cd\j

k\j XZZ`fe\j hl\ j\ X^ilgXe \e [fj \a\j1 Zfejldf i\jgfejXYc\ p ]Xd`c`X% :fejldf I\jgfejXYc\ Ef m\ekX X d\efi\j1 ZXdgX$ X "(/4M\ekX I\jgfejXYc\# Zlpf fYa\k`mf \j ^\e\iXi ZfeZ`\eZ`X \e cfj Zfd\iZ`fj jfYi\ cX m\ekX i\j$ gfejXYc\ [\ XcZf_fc j cf X dXpf$ i\j [\ (/ X fj% M\e[\[fi\j [\ cX ZfdgX X [`jki`Ylp\e \e cfj gle$ kfj [\ m\ekX ZXcZfdXe Xj p ]fcc\kfj Zfe cfj d\ejXa\j ÈEf c\ m\e[\dfj XcZf_fc X d\efi\j%"(/ M\ekX I\j$ gfejXYc\É p ÈPf g`[f [fZld\ekfj# jfp i\jgfejXYc\É% 8cZf_fc p dXe\af1 YXaf \c gXiX$ ^lXj [\c gXkifZ`e`f [\ cX :}dXiX :\im\Z\iX# ZfcXYfiXdfj Zfe \c gif^iXdX È:fe[lZkfi I\jgfejX$ Yc\É# i\Xc`qX[f ZfealekXd\ek\ Zfe \c >fY`\ief [\ cX :`l[X[ [\ 9l\efj

È:lXchl`\i \j]l\iqf [\Y\ j\i ZfdgXik`[f Zfe cX ]Xd`c`X# \c >fY`\ief p \c i\jkf [\ cfj XZkfi\j jfZ`Xc\j# Zfdf FE> p \jZl\cXj% CXj Xc`XeqXj jfe ZcXm\ gXiX ^XiXek`qXi cX jljk\ekXY`c`[X[ p \c Yl\e o`kf [\ cfj gifp\Zkfj [\ IJ<É

8`i\j% <c d`jdf YljZX ZfeZ`\ek`qXi X cfj a m\e\j dXpfi\j [\ (/ X fj i\jg\Zkf [\ cX `dgfikXeZ`X [\ Zfe$ jld`i Y\Y`[Xj Zfe XcZf_fc [\ leX dXe\iX i\jgfejXYc\ p XZ\iZX [\ cX `eZfdgXk`Y`c`[X[ [\ d\qZcXi cXj XZZ`fe\j [\ Y\Y\i p Zfe[lZ`i% 8[\$ d}j# [\jXiifccXdfj [\j[\ )''+ cX ZXdgX X ÈJ` kfdXjk\# ef dXe\a\jÉ hl\ `eZclp\ ^i}ÔZXj \e m X g Yc`ZX p \c Zfd\iZ`Xc ÈKXo`É gXlkX[f \e iX[`f p k\c\m`j` e% :fejldf I\jgfejXYc\ j cf gfi dXpfi\j (/ X fj1 XZZ`fe\j [\ gX$ kifZ`e`f i\jgfejXYc\ Zfe cX gi\j\e$ Z`X \e \m\ekfj dXj`mfj XgfpX[fj gfi cXj dXiZXj [\ cX ZfdgX X# \e cfj hl\ j\ \eki\^X dXk\i`Xc [`[}Z$ k`Zf jfYi\ cfj i`\j^fj [\c Zfejldf XYlj`mf [\ XcZf_fc% =Xd`c`X :`Zcf [\ Z_XicXj ^iXkl`kXj gXiX a m\e\j1 \eZl\ekifj \e \jZl\cXj [\ e`m\c d\[`f# [`ZkX[fj gfi gif$ ]\j`feXc\j \jg\Z`Xcd\ek\ ZXgX$ Z`kX[fj \e k\d}k`ZX X[fc\jZ\ek\# Yi`e[Xe[f le \jgXZ`f gXiX hl\ cfj a m\e\j j\Xe gifkX^fe`jkXj p \e \c hl\ jlj fg`e`fe\j j\Xe \jZlZ_X$ [Xj p k\e`[Xj \e Zl\ekX% :`Zcf [\ Z_XicXj ^iXkl`kXj gXiX gX[i\j1 \eZl\ekifj hl\ ^\e\iXe le \jgXZ`f gXiX \c [`Xcf^f ]iXe$ Zf p le ZXeXc [\ Zfdle`ZXZ` e [fe[\ cfj Xj`jk\ek\j i\Õ\o`feXe jfYi\ cfj [\jX] fj hl\ gcXek\X cX X[fc\jZ\eZ`X% ÈCXj d\kXj [\ e\^fZ`f hl\ efj gifglj`dfj# Xj Zfdf cX [`d\e$ j` e jfZ`Xc [\ kf[fj el\jkifj gif$ ^iXdXj [\ XZZ` e Zfdle`kXi`X# Zfejldf i\jgfejXYc\ p ]Xd`c`X jfe j cf gfj`Yc\j j` cXj `e`Z`Xk`mXj g Yc`ZXj p gi`mX[Xj Zf`eZ`[\e p j\ jljk\ekXe \eki\ j \e \c cXi^f gcX$ qf% GXiX efjfkifj# cX e`ZX dXe\iX [\ ^XiXek`qXi \jkX Zfek`el`[X[ \j Xc`e\Xi el\jkifj fYa\k`mfj \Zfe $ d`Zfj Zfe el\jkif jl\ f [\ cf^iXi le dle[f d\afiÉ# ÔeXc`qX \c m`Z\$ gi\j`[\ek\ [\ cX Z\im\Z\i X p dXc$ k\i X Hl`cd\j%

-0

<dgi\jXj p :fdle`[X[

98P<I

LeX ZlckliX gXiX m`m`i ;\j[\ 9Xp\i# Xj\^liXe hl\ cX IJ< ef [\Y\ j\i j cf gi [`ZX j`ef kXdY` e XZZ` e1 Zfe gXik`Z`gXZ` e XZk`mX [\ jlj ZfcXYfiX[fi\j# cc\mX X[\cXek\ )' gif^iXdXj ClZ`Xef M`^c`fe\ >\i\ek\ [\ I\cXZ`fe\j @ejk`klZ`feXc\j 9Xp\i J8 $ I\^` e :fef Jli

<

e 9Xp\i k\e\dfj leX gfc k`ZX Ôid\ [\ Yl\eXj gi}Zk`ZXj \dgi\jXi`Xc\j hl\ g\id`k\e le [\jXiifccf jfjk\e`Yc\ p i\jg\klf$ jf Zfe cfj Xjg\Zkfj \Zfe d`Zfj# jfZ`Xc\j p d\[`fXdY`\ekXc\j% @emfclZiXdfj p YljZXdfj `eZ\ek`$ mXi X cfj \dgc\X[fj# gifm\\[fi\j p Zfdle`[X[ \e ^\e\iXc gfihl\ Zi\\$ dfj Ôid\d\ek\ hl\ \jkX ZlckliX i\jgfejXYc\ j\ [\Y\ m`m`i p ef j cf gi\[`ZXi% JXY\dfj hl\ `emfclZiXi$ j\ ^\e\iX ZfeZ`\eZ`X# p jfYi\ kf[f jXk`j]XZZ` e% P \jkf k`\e\ le ]l\ik\ XeZcXa\ \e el\jkifj mXcfi\j p gi`e$ Z`g`fj% 9Xp\i gfj\\ le gif^iXdX `ek\^iXc \e cX i\^` e :fef Jli# c`[\iX[f [\j$ [\ cX 8i^\ek`eX# hl\ j\ [\efd`eX È9Xp\i <dgi\e[\É% I\gi\j\ekX# d\[`Xek\ cXj ZXdgX Xj hl\ \e^$ cfYX# le gif^iXdX `ek\^iXc [\ IJ< hl\ i\jgfe[\ X cfj mXcfi\j [\ 9X$ p\i p k`\e\ gXik`Z`gXZ` e \e }dY`$ kfj Zfdf cX \[lZXZ` e# cX jXcl[# \c ZXdY`f Zc`d}k`Zf p \c mfclekXi`X[f ZfigfiXk`mf# \eki\ fkifj% Gfi fkiX gXik\# LE<J# ÈLk`c`Z\dfj El\jkif <jg i`kl Jfc`[Xi`fÉ# \j cX [\efd`eXZ` e hl\ le`ÔZX cXj [`]\$ i\ek\j `e`Z`Xk`mXj [\ mfclekXi`X[f ZfigfiXk`mf% 9ljZX kiXjd`k`i cX Zlc$ kliX jfZ`Xcd\ek\ i\jgfejXYc\ [\ cX ZfdgX X# p X jl m\q# ^\e\iXi \e$ klj`Xjdf# Zfdgifd`jf p gXik`Z`gX$

.'

ClZ`Xef M`^c`fe\

Z` e XZk`mX [\ cfj ZfcXYfiX[fi\j% <e cX XZklXc`[X[ ZfekXdfj Zfe Xci\$ [\[fi [\ )' gif^iXdXj \e }dY`kfj ZcXm\j Zfdf cX \[lZXZ` e j\olXc# \[lZXZ` e gXiX cX jXcl[# \[lZXZ` e gXiX \c kiXYXaf p ZXdY`f Zc`d}k`Zf% CX gXik`Z`gXZ` e [\ el\jkifj ZfcX$ YfiX[fi\j \oZ\[\ cfj gif^iXdXj [\ mfclekXi`X[f gifg`Xd\ek\ [`$ Z_fj pX hl\ kXdY` e j\ `emfclZiXe \e Xhl\ccfj gif^iXdXj ZfigfiXk`$ mfj hl\ 9Xp\i gfe\ \e dXiZ_X \e [`]\i\ek\j }dY`kfj [\ cX jfZ`\[X[% ?fp cX IJ< [\Y\ j\i leX gi}Zk`ZX hl\ XkiXm`\j\ kf[X cX fi^Xe`qXZ` e p hl\ \jk `ek\^iX[X p \e ZfeZfi[Xe$ Z`X Zfe cfj e\^fZ`fj% CXj gi}Zk`ZXj gif]\j`feXc\j hl\ g\id`k\e le [\jXiifccf jljk\ekXYc\ jfe# ZX[X m\q d}j# le ]XZkfi [\Z`$ j`mf hl\ gl\[\e `eÕl`i \e \c mXcfi [\ leX ZfdgX X# kXekf jl mXcfi [\ d\iZX[f Zfdf jl mXcfi `eki ej\Zf%

ÈCXj gi}Zk`ZXj gif]\j`feXc\j hl\ g\id`k\e le [\jXiifccf jljk\ekXYc\ jfe# ZX[X m\q d}j# le ]XZkfi [\Z`j`mf hl\ gl\[\e `eÕl`i \e \c mXcfi [\ leX ZfdgX X# kXekf jl mXcfi [\ d\iZX[f Zfdf jl mXcfi `eki ej\ZfÉ

<dgi\jXj p :fdle`[X[

JPE><EK8

8^i`ZlckliX jljk\ekXYc\ gXiX leX gfYcXZ` e \e Zi\Z`d`\ekf 8[\d}j [\c mfclekXi`X[f \e \jZl\cXj# cX \dgi\jX `eZlcZX \c dXe\af i\jgfejXYc\ [\ cfj Zlck`mfj p fi^Xe`q le gcXe `ek\^iXc gXiX [\k\ZkXi cXj `ekfo`ZXZ`fe\j Zfe X^ifhl d`Zfj \e Zfdle`[X[\j iliXc\j

<

e (0-'# \c dle[f [`jgfe X [\ leX _\Zk}i\X [\ Zlck`mf gXiX Xc`d\ekXi X [fj g\i$ jfeXj% GXiX (00,# \c Xc`d\ekf gif$ [lZ`[f \e \jX _\Zk}i\X \iX Zfd$ gXik`[f gfi ZlXkif g\ijfeXj% J\ \jk`dX hl\ \e )'),# Z`eZf g\ijf$ eXj [\Y\i}e j\i Xc`d\ekX[Xj Zfe \c gif[lZkf [\ \j\ d`jdf \jgXZ`f [\ k`\iiX% ;\ X_ \c Zfdgifd`jf Ôid\ [\ el\jkiX ZfdgX X Zfe cX X^i`Zlc$ kliX jljk\ekXYc\% KiXYXaXdfj gXiX gif[lZ`i d}j Xc`d\ekfj Zfe cX d`jdX jlg\iÔZ`\ [\ k`\iiX gfj`Yc\% <jkf j\ cf^iX `eZfigfiXe[f gif$ [lZkfj gXiX cX gifk\ZZ` e [\ Zlck`$ mfj YXjX[fj \e X fj [\ `em\jk`^X$ Z` e p [\jXiifccf# Xc d`jdf k`\dgf hl\ [\jXiifccXdfj j\d`ccXj [\ Xckf mXcfi X^i\^X[f% ?fp leX j\d`ccX j\ gXi\Z\ X le d`ZifZ_`g gif^iXdX$ [f gXiX i\j`jk`i d\afi X gcX^Xj \ `e$ j\Zkfj p [Xi \c d\afi i\e[`d`\ekf% KiXYXaXi [\ dXe\iX jfZ`Xcd\e$ k\ i\jgfejXYc\ \j gXiX kf[fj cfj hl\ _XZ\dfj Jpe^\ekX le Zi`k\i`f Z\ekiXc% Cfj \a\j Xci\[\[fi [\ cfj ZlXc\j ^`iXe kf[Xj el\jkiXj XZk`$ m`[X[\j jfe <[lZXZ` e# JXcl[# p D\[`f 8dY`\ek\% KXe `dgfikXek\ \j \c i\jg\kf Xc d\[`f XdY`\ek\ p cfj i\Zlijfj eXkliXc\j \e \c gifZ\$ jf gif[lZk`mf p \e cfj gif[lZkfj ÔeXc\j Zfdf \e cX Xgc`ZXZ` e [\

.)

cfj d`jdfj gfi \c X^i`Zlckfi% Gif$ gfe\dfj \c dXe\af i\jgfejXYc\ p ZXgXZ`kXdfj \e \c ljf Zfii\Zkf [\ cfj gif[lZkfj gXiX cX gifk\ZZ` e [\ Zlck`mfj% 9ljZXdfj [\jXiifccXi leX ZlckliX hl\ gifdl\mX cX i\jgfe$ jXY`c`[X[ g\ijfeXc \e ZlXekf Xc d\[`f XdY`\ek\ hl\ ZldgcX cXj i\^lcXZ`fe\j \o`jk\ek\j# cXj \o`$ ^\eZ`Xj c\^Xc\j p cfj XZl\i[fj `ek\ieXZ`feXc\j% <e \c gcXef [\ cX Zfeki`YlZ` e jfZ`Xc# Jpe^\ekX Zl\ekX Zfe jl gif^iXdX [\ mf$ clekXi`X[f ZfigfiX$ k`mf# fi`\ekX[f X [\$ jXiifccXi \c gfk\eZ`Xc [\ cXj Zfdle`[X[\j p Yi`e[Xi fgfikle`$ [X[\j [\ [\jXiifccf [fe[\ cX ZfdgX X k`\e\ gi\j\eZ`X% <jk\ gifp\Zkf eXZ\ Zfdf i\j$ gl\jkX X cX e\Z\j`[X[ hl\ j\ dX$ e`]\jk gfi cX Zi`j`j \Zfe d`ZX [\ )''( p )'')% Cfj ZfcXYfiX[fi\j [\ Jpe^\ekX [\Z`[`\ife ef g\i$ dXe\Z\i Xa\efj X \jkX i\Xc`[X[% 8j eXZ\ È:lck`mXe[f Jfc`[Xi`[X[É# le gif^iXdX hl\ j\ cc\mX X[\cXek\ \e \jZl\cXj iliXc\j [\ cX 8i^\ek`eX [\j[\ )'') Zfe \c fYa\k`mf [\ Xpl$ [Xi XZk`mXd\ek\ gXiX d\afiXi cXj

Ifd}e 9Xikfcfd\f p cXj ZXdgX Xj ^i}ÔZXj [\ Jpe^\ekX

;feXZ`fe\j X cX <jZl\cX CXj CXa`kXj [\ JXckX2 p \c m`Xa\ X :Xicfj GXq p <dYXcj\ I f K\iZ\if [\ cX <jZl\cX CX K`^iX +(*# [\ :_XZf

Zfe[`Z`fe\j \[lZXk`mXj [\ e` fj \e \[X[ \jZfcXi% <e alc`f [\ )''0# X j`\k\ X fj [\ `e`Z`X[f \c gif^iXdX# È:lc$ k`mXe[f Jfc`[Xi`[X[É cc\^ X (* \jZl\cXj# ZfcXYfiXe[f \e )) fYiXj \[`c`Z`Xj p Y\e\]`Z`Xe[f X (/,' Z_`Zfj \e fZ_f gifm`eZ`Xj% <c e d\if [\ mfclekXi`fj kXd$ Y` e Zi\Z` Zfej`[\iXYc\d\ek\2 Zfd\eq Zfe (' mfclekXi`fj p _fp# fZ_f X fj [\jgl j# Z\iZX [\c (' [\ cfj ZfcXYfiX[fi\j [\ cX ZfdgX X _Xe gXik`Z`gX[f [\c gif^iXdX% Gfi fkif cX[f# Zfe cX `ek\eZ` e [\ ZfekXi Zfe le i\^`jkif [\ X]\Z$ kX[fj gfi cX `eZfii\ZkX Xgc`ZX$ Z` e [\ X^ifhl d`Zfj# Jpe^\ekX i\Xc`q le XZl\i[f gXiX kiXYXaXi alekf X K8J Kfo`Zfcf^ X# 8j\jfiX$ d`\ekf p J\im`Z`fj # p \e Zfealekf cc\mXdfj X ZXYf le gif^iXdX [\ ZXgXZ`kXZ` e X g\ijfeXc d [`Zf gXiX Xk\eZ` e [\ \d\i^\eZ`Xj gfi `ekfo`ZXZ` e Zfe gif[lZkfj X^ifhl d`Zfj# \jg\Z`Xcd\ek\ \e `ejk`klZ`fe\j [\ jXcl[ lY`ZX[Xj \e qfeXj iliXc\j% 8[\d}j [\ \jkXYc\Z\i le gif$

^iXdX [\ \eki\eXd`\ekf gXiX d [`Zfj p gif]\j`feXc\j [\ cX jX$ cl[ \e [\k\ZZ` e p kiXkXd`\ekf [\ ZXjfj [\ `ekfo`ZXZ` e# j\ Zi\ leX i\[ d [`ZX [\ dfe`kfi\f# Xe}c`$ j`j p j\^l`d`\ekf# j\ i\Zfg`cXife \jkX[ jk`ZXj [\ `ekfo`ZXZ`fe\j p j\ XYi` leX c e\X [\ Xk\eZ` e Xc g Yc`Zf gXiX \mXZlXi ZfejlckXj f `ehl`\kl[\j% 8ek\i`fid\ek\# ef \o`jk X le gcXe `ek\^iXc gXiX cX [\$ k\ZZ` e [\ \jk\ k`gf [\ ZXjfj \e el\jkif gX j% <c gif^iXdX cc\mX Z`eZf X fj \e ]leZ`feXd`\ekf p _XjkX \c dfd\e$ kf j\ ZXgXZ`kXife d}j [\ (%''' d [`Zfj \e d}j [\ +' _fjg`kXc\j p Z\ekifj d [`Zfj j`klX[fj \e qf$ eXj iliXc\j [\ (- gifm`eZ`Xj% 8]fikleX[Xd\ek\# XdYfj gif$ ^iXdXj [\ `em\ij` e jfZ`Xc _Xe Zi\Z`[f `e`ek\iildg`[Xd\ek\% El\jkiX [\Z`j` e \j cX [\ ]fikXc\$ Z\i cXj XZZ`fe\j hl\ pX j\ m`\e\e [\jXiifccXe[f gXiX jfjk\e\icXj \e \c k`\dgf% <jkf efj g\id`k\ [Xi gXjfj Ôi$ d\j p Zfek`elfj# hl\ ef [\g\e[Xe [\c [\j\dg\ f [\c e\^fZ`f f [\ j`$ klXZ`fe\j [\ ZfplekliX gleklXc\j%

ÈJ\ Zi\ leX i\[ d [`ZX [\ dfe`kfi\f# Xe}c`j`j p j\^l`d`\ekf# j\ i\Zfg`cXife \jkX[ jk`ZXj [\ `ekfo`ZXZ`fe\j Zfe X^ifhl d`Zfj p j\ XYi` leX c e\X [\ Xk\eZ` e Xc g Yc`Zf% 8ek\j# ef \o`jk X le gcXe `ek\^iXc gXiX cX [\k\ZZ` e [\ \jk\ k`gf [\ ZXjfj \e cX 8i^\ek`eXÉ

.*

<dgi\jXj p :fdle`[X[

K<:EFCF>@:F ;< DFEK<II<P

CX \[lZXZ` e Zfdf Zfdgifd`jf CX `ejk`klZ` e [\ \[lZXZ` e jlg\i`fi k`\e\ Zfdf d`j` e ]fidXi Xcldefj ek\^ifj# k`Zfj p Zfe leX m`j` e _ldXe jk`ZX gXiX hl\ j\Xe Z`l[X[Xefj Zfdgifd\k`[fj Zfe \c [\jXiifccf \Zfe d`Zf# gfc k`Zf# jfZ`Xc p ZlckliXc [\ jl Zfdle`[X[%

<

c K\Zefc ^`Zf [\ Dfek\ii\p \j leX `ejk`klZ` e gi`mX[X j`e Ô$ e\j [\ clZif# ]le[X[X \e (0+* gfi le Zfealekf [\ \dgi\jXi`fj `e$ [\g\e[`\ek\j [\ ^ilgfj gfc k`Zfj p i\c`^`fjfj% 8ZklXcd\ek\# Zl\ekX Zfe ** ZXdglj \e cX I\g Yc`ZX D\o`ZXeX# [fe[\ ZfcXYfiXe /%+(/ gif]\jfi\j p 0(%-.) \jkl[`Xek\j \e cfj j`^l`\ek\j gif^iXdXj1 *0 ZXii\$ iXj gif]\j`feXc\j# ,* gif^iXdXj [\ dX\jki X p 0 [\ [fZkfiX[f% 8 e`m\c `ek\ieXZ`feXc# jl gi\jk`^`f \j i\jgXc$ [X[f gfi cXj )) j\[\j p fÔZ`eXj hl\ gfj\\ \e cXj gi`eZ`gXc\j Z`l[X[\j [\c dle[f# [\j[\ j\gk`\dYi\ [\ )''0 kXdY` e \e 9l\efj 8`i\j% CX `ejk`klZ` e \[lZXk`mX k`\e\ Zfdf d`j` e ]fidXi g\ijfeXj e$ k\^iXj# k`ZXj# Zfe leX m`j` e _ldX$ e jk`ZX p Zfdg\k`k`mX `ek\ieXZ`feXc$ d\ek\ \e jl ZXdgf gif]\j`feXc# hl\ Xc d`jdf k`\dgf j\Xe Z`l[X[Xefj Zfdgifd\k`[fj Zfe \c [\jXiifccf \Zfe d`Zf# gfc k`Zf# jfZ`Xc p ZlckliXc [\ jl Zfdle`[X[ p Zfe \c ljf jfj$ k\e`Yc\ [\ cfj i\Zlijfj eXkliXc\j% 8j`d`jdf# \jk} \e ZfejkXek\ Y j$ hl\[X [\ fgfikle`[X[\j gXiX XZi\$ Z\ekXi jl Zfdgifd`jf \e dXk\i`X [\ [\jXiifccf jljk\ekXYc\# cf hl\ cf _X cc\mX[f X \e]i\ekXi el\mfj i\kfj% Gfi kXc dfk`mf# \e jl d`j` e )'(, j\ gcXek\X \jkXYc\Z\i Z\ekifj [\ kiXej$ ]\i\eZ`X [\c ZfefZ`d`\ekf gXiX \c [\jXiifccf jfZ`Xc jfjk\e`Yc\# cf hl\

.+

[X ]le[Xd\ekf X cX ]fidXZ` e [\c @ejk`klkf gXiX \c ;\jXiifccf JfZ`Xc Jfjk\e`Yc\ @;\JJ # hl\ Xik`ZlcX kf$ [fj cfj gif^iXdXj gXiX \c gif^i\jf [\ cX Zfdle`[X[ hl\ j\ f]i\Z\e \e \c K\Zefc ^`Zf [\ Dfek\ii\p% CX I\jgfejXY`c`[X[ JfZ`Xc Le`$ m\ij`kXi`X [\c K\Zefc ^`Zf j\ YXjX \e \c df[\cf [\ IJL gifgl\jkf gfi =iXe f`j MXccX\pj# gfi cf ZlXc j\ Z\ekiX \e glekfj [\ `dgXZkf hl\ j\ X^ilgXe \e ZlXkif ^iXe[\j ilYifj1 `dgXZkf fi^Xe`qXZ`feXc# \[lZXk`mf# Zf^e`k`mf p \g`jk\dfc ^`Zf% <j d\$ e\jk\i hl\ [`Z_fj `dgXZkfj j\Xe ZfejkilZk`mfj# ^\e\iX[fi\j [\ Zf$ efZ`d`\ekf p [\jXiifccf% <e )''/# cX `ejk`klZ` e ]l\ cX gi`$ d\iX \[lZXk`mX gi`mX[X \e i\Z`Y`i \c I\ZfefZ`d`\ekf X cX D\afi Gi}Zk`ZX [\ IJ<# fkfi^X[f gfi cX 8c`XeqX gfi cX I\jgfejXY`c`[X[ JfZ`Xc <dgi\jX$ i`Xc 8C@8IJ< p \c :\ekif D\o`ZXef

gXiX cX =`cXekifg X :<D<=@ % <jk\ i\ZfefZ`d`\ekf c\ ]l\ fkfi^X[f \e cX ZXk\^fi X :X[\eX [\ mXcfi# gfi \c gif^iXdX [\ `eZlYX[fiXj jfZ`Xc\j \dgi\e[`[f gfi \c @;\JJ% Gifp\Zkfj gXiX cX 8i^\ek`eX :\ekifj :fdle`kXi`fj [\ 8gi\e[`qXa\ ::8 1 jfe le \j]l\i$ qf \e Zfealekf \eki\ \c >fY`\ief# \c K<:# Xj Zfdf [\ fkifj jfZ`fj# \eki\ \ccfj# FE> p \dgi\jXj% <jkfj Z\e$ kifj lk`c`qXe le df[\cf [\ \[lZX$ Z` e \e c e\X2 \j [\Z`i# ef gi\j\eZ`Xc# hl\ mX d}j Xcc} [\ cX d\dfi`qXZ` e [\ ZfeZ\gkfj p hl\ j\ Z\ekiX \e \c Xgi\e[`qXa\ [\ cfj Xcldefj p \e \c [\jXiifccf [\ _XY`c`[X[\j hl\ c\j g\id`kXe XZ\iZXij\ X cX `e]fidX$ Z` e gXiX \ek\e[\icX# `ek\igi\kXicX# ljXicX p kiXej]fidXicX% Cfj ::8Ë j jfe Z\ekifj [fe[\ cfj ljlXi`fj# X kiXm j [\ cX k\Zefcf^ X `e]fid}k`ZX# XZZ\[\e X gif^iXdXj \[lZXk`mfj [\ \oZ\c\ek\ ZXc`[X[ \ `ek\iXZk Xe Zfe klkfi\j hl\ cfj Xj\jfiXe% CX i\kifXc`d\ekXZ` e p \c j\^l`$ d`\ekf [\c gifZ\jf [\ \ej\ XeqX$ Xgi\e[`qXa\ jfe gfj`Yc\j X kiXm j [\ cX gcXkX]fidX k\Zefc ^`ZX N\Y$ K\Z# cX ZlXc g\id`k\ leX jlg\im`j` e g\idXe\ek\ [\c gifZ\jf p le dfe`$ kfi\f [\ cfj i\jlckX[fj hl\ _XZ\e gfj`Yc\ cX `dgc\d\ekXZ` e `ed\[`X$ kX [\ XZZ`fe\j Zfii\Zk`mXj% Cfj fYa\k`mfj [\ cfj ::8Ë j jfe1

A\j`ZX 8iZXp# ;`i\ZkfiX <a\Zlk`mX&IJ< j\[\ 8i^\ek`eX [\c K\Zefc ^`Zf [\ Dfek\ii\p2 p GXYcf :Xii\iX EXim}\q# ;`$ i\Zkfi >\e\iXc [\ cX j\[\ 8i^\ek`eX

Gifm\\i \[lZXZ` e [\ ZXc`[X[ X Zfdle`[X[\j ^\f^i}ÔZXd\ek\ X`jcX[Xj p&f ZXi\ek\j [\ j\im`Z`fj \[lZXk`mfj kiX[`Z`feXc\j% Gifdfm\i \c [\jXiifccf Zfdle`$ kXi`f \e ki\j [`d\ej`fe\j1 cX _ldX$ eX# cX jfZ`Xc p cX \Zfe d`ZX% <jk`dlcXi cXj ZXgXZ`[X[\j [\ cfj _XY`kXek\j [\ \jXj Zfdle`[X[\j# gXiX ^\e\iXi _XY`c`[X[\j hl\ \c\m\e jl ZXc`[X[ [\ m`[X \ `dgXZk\e \e \c [\jXiifccf [\ cX eXZ` e% F]i\Z\i \jgXZ`fj [\ XZZ\jf X cX `e]fidXZ` e p [\ m`eZlcXZ` e Zfe \c dle[f \Zfe d`Zf# jfZ`Xc p ZlckliXc% GXik`Z`gXi \e cX ]fidXZ` e [\ cX ZfeZ`\eZ`X jfZ`Xc [\ cfj c [\i\j [\c dX XeX# X kiXm j [\ cX `ek\^iXZ` e X cfj Z\ekifj [\ a m\e\j [\c j`jk\dX [\ \[lZXZ` e jlg\i`fi hl\ i\Xc`qXe jl j\im`Z`f jfZ`Xc% 8ZklXcd\ek\# Zl\ekX Zfe )('' Z\ekifj Zfdle`kXi`fj [\ Xgi\e[`qX$ a\# [`jki`Yl`[fj \e [`m\ijXj Z`l[X[\j [\ kf[fj cfj \jkX[fj [\ cX I\g Yc`ZX D\o`ZXeX% Cl\^f# \e fi[\e [\jZ\e$

[\ek\ gfi ZXek`[X[ [\ ::8Ëj# \jk}e <jkX[fj Le`[fj# I\g% ;fd`e`ZXeX# >lXk\dXcX# <ZlX[fi# :fcfdY`X% Gif^iXdX =fidXe[f ]fidX[f$ i\j gXiX gif]\jfi\j1 gif^iXdXj X [`jkXeZ`X gXiX \c [\jXiifccf gif]\j`f$ eXc [\ cfj dX\jkifj [\ kf[f \c gX j% 8 kiXm j [\ Zlijfj p [`gcfdX[fj [`j\$ X[fj gXiX \ccfj% :fekXdfj Zfe le .' [\ Y\ZX \e \jkfj gif^iXdXj% =leZ`feXi`fj g Yc`Zfj1 j\d`$ eXi`fj# [`gcfdX[fj p gif^iXdXj [\ \[lZXZ` e Zfek`elX gfi @ek\ie\k [`i`^`[fj X gifdfm\i hl\ cfj ]leZ`f$ eXi`fj X[hl`\iXe ZfefZ`d`\ekfj i\$ c\mXek\j# Xj Zfdf hl\ [\jXiifcc\e _XY`c`[X[\j# XZk`kl[\j p mXcfi\j gXiX \c cf^if [\ le d\afi [\j\dg\ f \e Y\e\ÔZ`f [\ cX Zfdle`[X[% :fekX$ dfj Zfe Y\ZXj X gXik`i [\c ,' % <dgi\jXj jfZ`Xcd\ek\ i\jgfe$ jXYc\j1 Zfdf leX ]fidX [\ [`]le[`i \c ZfeZ\gkf [\ i\jgfejXY`c`[X[ jf$ Z`Xc p [\ d\afiXi jl Zfdgi\ej` e# \c K\Zefc ^`Zf [\ Dfek\ii\p f]i\Z\ le ;`gcfdX[f \e c e\X jfYi\ I\j$

gfejXY`c`[X[ JfZ`Xc# \e Zfealekf Zfe :\d\o p \c @ejk`klkf [\c 9XeZf Dle[`Xc% Alekfj _Xe Zi\X[f le \j$ gXZ`f m`iklXc gXiX \c Zi\Z`d`\ekf [\ cX `eefmXZ` e jfZ`Xc1 nnn%ij\%fi^% do% 8cc j\ f]i\Z\e cfj ]le[Xd\ekfj [\ cX IJ<# _\iiXd`\ekXj p ZXgXZ`$ kXZ` e gXiX Xpl[Xi X cXj \dgi\jXj X [\jXiifccXi# gifdfm\i \ `dgcXekXi \jkiXk\^`Xj jfZ`Xcd\ek\ i\jgfejX$ Yc\j% <jk\ gif^iXdX _X i\Z`Y`[f i\$ ZfefZ`d`\ekfj gfi gXik\ [\ >cfYXc :fdgXZk p [\ K_\ <lifg\Xe 8ZX[\$ dp f] 9lj`e\jj <89@J % Gif^iXdX [\ cfj ('' d\afi\j1 [\ Xckf i\e[`d`\ekf XZX[ d`Zf# Ylj$ ZX XkiX\i kXc\ekfj [\ 8d i`ZX CXk`eX% Fkfi^}e[fc\j \c 0' [\ Y\ZX gXiX jl ZXii\iX le`m\ij`kXi`X \e \c K\Z$ efc ^`Zf [\ Dfek\ii\p# k`\e\ Zfdf d`j` e# gfk\eZ`Xi p [\jXiifccXi \j$ kl[`Xek\j [\ Xckf g\iÔc XZX[ d`Zf p g\ijfeXc# gXiX hl\ j\ Zfem`\ikXe \e X^\ek\j [\ ZXdY`f p [\jXiifccf \e \c }dY`kf jfZ`Xc# \Zfe d`Zf# gfc k`Zf p ZlckliXc [\ jlj Zfdle`[X[\j%

.,

<dgi\jXj p :fdle`[X[

KFPFK8 8I><EK@E8

:feZ`\eZ`X# ZfeÔXeqX p i\jgfejXY`c`[X[# Zfe kf[fj cfj ^ilgfj [\ `ek\i j :fe leX Ôcfjf] X YXjX[X \e cX Y jhl\[X [\ jljk\ekXY`c`[X[ kXekf \e cXj k\Zefcf^ Xj Xlkfdfki`Z\j Zfdf \e cXj i\cXZ`fe\j _ldXeXj# cX ZfdgX X [\jXiifccX eld\ifjfj gif^iXdXj [\[`ZX[fj X cX j\^li`[X[ m`Xc# \c Zl`[X[f [\c XdY`\ek\ p cX \[lZXZ` e k Ze`ZX

G

XiX efjfkifj cX IJ< \j cX ZX$ gXZ`[X[ [\ leX \dgi\jX [\ \jZlZ_Xi# Xk\e[\i# Zfdgi\e$ [\i p jXk`j]XZ\i cXj \og\ZkXk`mXj c\^ k`dXj [\ cfj [`]\i\ek\j XZkfi\j hl\ Zfeki`Ylp\e X jl [\jXiifccf# \jkf XgfikX le mXcfi X[`Z`feXc hl\ mX d}j Xcc} [\c Zldgc`d`\ekf [\ cXj c\p\j p efidXj \e \c gX j [fe[\ fg\i\e% <e KfpfkX# _\dfj kiXqX[f le ZXd`ef hl\ kiXej`kXdfj [\j[\ \c `e`Z`f [\ cXj fg\iXZ`fe\j \e 8i^\ek`eX% È<jkf jlgfe\ leX XZZ` e fi[\$ eX[X [\ kf[fj cfj j\Zkfi\j `emfcl$ ZiX[fj# YXaf cfj c`e\Xd`\ekfj [\ cfj Gi`eZ`g`fj >l X [\ KfpfkX p Gfc k`ZX [\ I\jgfejXY`c`[X[ JfZ`Xc :figfiX$ k`mX# Xjld`\e[f \c Zfdgifd`jf [\ Zfeki`Yl`i Xc [\jXiifccf Xidfe`fjf p jljk\ekXYc\ [\ cX jfZ`\[X[% <c Zfd$

.-

gifd`jf [\ cX ZfdgX X Zfe jlj [`]\i\ek\j ^ilgfj [\ `ek\i j j\ i\jl$ d\ \e cX Gfc k`ZX [\ I\jgfejXY`c`[X[ JfZ`Xc :figfiXk`mX# _XZ`X \c ;\jX$ iifccf Jljk\ekXYc\É# \ogc`ZX <[lXi[f BifeY\i^# ^\i\ek\ [\ I\jgfejXY`c`$ [X[ JfZ`Xc [\ cX ZfdgX X% GXiX Zfe cfj Zc`\ek\j# cX Ôcfjf] X [\ È<c Zc`\ek\ gi`d\ifÉ# [\jXiifccX [\jkX$ ZX[fj gif[lZkfj p j\im`Z`fj [\ XckX ZXc`[X[# `eefmX[fi\j p j\^lifj# hl\ i\jgfe[\e X cXj [\dXe[Xj d}j mX$ i`X[Xj% GXiX Zfe jlj \dgc\X[fj# \j$ k`dlcX \c Zi\Z`d`\ekf g\ijfeXc p \e$ k`\e[\ hl\ \c o`kf [\c e\^fZ`f \jk} c`[\iX[f gfi \c kiXYXaf \e \hl`gf p cX Zi\Xk`m`[X[ `e[`m`[lXc% 8 kiXm j [\ cX Zfdle`ZXZ` e Zfe jlj \dgc\X[fj# cX ZfdgX X YljZX XcZXeqXi \c mXcfi [\ È:feÔXeqX p I\jgfejXY`c`[X[ dl$ klXjÉ hl\ cfj `dglcjX X kiXYXaXi ale$ kfj gfi \c o`kf% CX ZfdgX X i\jg\kX cfj [\i\Z_fj _ldXefj# gifgfiZ`feX Zfe[`Z`fe\j aljkXj [\ kiXYXaf p dXe$ k`\e\ le XdY`\ek\ cXYfiXc j\^lif% <e ZlXekf X cfj jfZ`fj Zfd\iZ`X$

@e^% <[lXi[f BifeY\i^# >\i\ek\ [\ IIGG p I\jgfejXY`c`[X[ JfZ`Xc

c\j gifm\\[fi\j p ZfeZ\j`feXi`fj # KfpfkX kiXYXaX gXiX dXek\e\i i\$ cXZ`fe\j [\ cXi^f gcXqf p cf^iXi le Zi\Z`d`\ekf dlklf% 8j`d`jdf# cX ZfdgX X g\idXe\ek\d\ek\ ^\$ e\iX el\mfj jfZ`fj# gi`fi`qXe[f jl jfc`[\q# \e cl^Xi [\ cX [`d\ej` e p jl eXZ`feXc`[X[% KfpfkX kXdY` e j\ \j]l\iqX gfi i\XcqXi \c mXcfi ZfigfiXk`mf d`\ekiXj YljZX XcZXeqXi le Zi\Z`d`\ekf \jkX$ Yc\ p [\ cXi^f gcXqf gXiX \c Y\e\ÔZ`f [\ cfj XZZ`fe`jkXj% J` j\ kiXkX [\ jl ifc jfZ`Xc# cX Zfd$ gX X j`^l\ cfj c`e\Xd`\ekfj [\ cX È:XikX X cX K`\iiXÉ hl\ Zfejk`klp\ cX gfc k`ZX XdY`\ekXc ^cfYXc \d`k`[X gfi cX ZXjX dXki`q# KfpfkX Dfkfi :figf$ iXk`fe# gXiX kf[Xj jlj fg\iXZ`fe\j \e \c dle[f% <e \ccX j\ \jkXYc\Z\ Zfdf gi`fi`[X[ \c Zl`[X[f [\c gcXe\$ kX p j\ gifdl\m\e k\Zefcf^ Xj hl\ g\id`kXe cX Zf\o`jk\eZ`X Xidfe`fjX [\ cX \Zfefd X p \c d\[`f XdY`\ek\% =`eXcd\ek\# cX _fiX [\ cX Zfdle`$ [X[1 \c i\jg\kf gfi cX ^\ek\ \j ]le[X$ d\ekXc# _feiXe[f cXj c\p\j# ZlckliX \ _`jkfi`X [\ ZX[X gX j% ?XZ`X Xcc j\ fi`\ekX cX Y jhl\[X [\ k\Zefcf^ Xj jlg\i`fi\j d}j j\^liXj p c`dg`Xj# _XZ`X leX dfm`c`[X[ jljk\ekXYc\% 8ZZ`fe\j ZfeZi\kXj KXekf Zfe gif^iXdXj \e \c }i\X [\ `eÕl\eZ`X [\ cX GcXekX @e[ljki`Xc [\ Q}iXk\ Zfdf X e`m\c eXZ`feXc# cfj gif^iXdXj [\ IJ< [\ KfpfkX j\ fi`\ekXe X ki\j \a\j1 cX \[lZXZ` e# \c d\[`f XdY`\ek\ p cX j\^li`[X[ m`Xc% GXiX a m\e\j1 \c Gif^iXdX D\kX

D\afiX [\ cX <[lZXZ`Â?e K„Ze`ZX 8l$ kfdfki`q k`\e\ \c fYa\k`mf [\ \jk`dl$ cXi cX ZXgXZ`kXZ`Â?e [\ \jkl[`Xek\j [\ \jZl\cXj k„Ze`ZXj gXiX gifdfm\i jl `ej\iZ`Â?e cXYfiXc% J\ `e`Z`Â? X Ă”e\j [\ )''. \e * Z`l[X[\j [\c gXˆj D\e[f$ qX# GXiXe} p DXi [\c GcXkX % ?fp jfe d}j [\ )' \jZl\cXj cXj hl\ _Xe gXi$ k`Z`gX[f \e \jk\ gif^iXdX% D`\ekiXj kXekf# \c Gif^iXdX [\ @ekif[lZZ`Â?e Xc Dle[f [\c KiXYXaf j\ [\jXiifccX [\j[\ )''/ Zfe Xcldefj [\ \jZl\$ cXj [\ Q}iXk\ p 9XiX[\if# alekf Zfe cX =le[XZ`Â?e Ale`fi 8Z_`\m\d\ek# cX ZfejlckfiX DXegfn\i p le ^ilgf [\ gif]\j`feXc\j hl\ Yi`e[Xe _\iiX$ d`\ekXj gXiX `[\ek`Ă”ZXi \og\i`\eZ`Xj p _XY`c`[X[\j hl\ ]XZ`c`k\e jl `ej\i$ Z`Â?e \e \c dle[f cXYfiXc% KXdY`„e# _Xp gif^iXdXj [\ Xgfpf Ă”eXeZ`\if X cX \[lZXZ`Â?e Zfe Zi„[`kf Ă”jZXc1 X e`m\c eXZ`feXc# j\ kiXYXaX \e [Xi jfgfik\ X cXj \jZl\cXj gXiX jlj gifp\Zkfj \[lZXk`mfj# cX gifm`j`Â?e [\ \hl`gXd`\ekf p ]fidXZ`Â?e [\ cfj [f$ Z\ek\j% ;liXek\ )''0# j\ XgifYXife gifp\Zkfj gfi le kfkXc [\ )%).(%'''% G\ejXe[f \e cfj [fZ\ek\j# j\ XidÂ? \c :lijf gXiX \c =fikXc\Z`d`\ekf [\ \hl`gfj [`i\Zk`mfj [\ \jZl\cXj k„Z$ e`ZXj2 p gXiX cfj e`ÂŒfj# leX ]l\ik\ ZXdgXÂŒX [\ c\ZkliX Gifp\Zkf C`Yif 8Y`\ikf alekf X cX =le[XZ`Â?e C\\i% J\^li`[X[ m`Xc ;\j[\ )'''# KfpfkX cc\mX X ZXYf leX ZXdgXÂŒX `ek\ieX YXaf cX Zfej`^$ eX ^\e\iXc [\ J\^li`[X[ \e cX Zfd$ gXŒˆX# Ăˆ:\if 8ZZ`[\ek\É% <c fYa\k`mf

[\ \jk\ gif^iXdX# hl\ ef k\id`eX \e cfj \dgc\X[fj# \j \ok\e[\i X jlj [fd`Z`c`fj p Xcc\^X[fj cX kfdX [\ ZfeZ`\eZ`X XZ\iZX [\ cX e\Z\j`[X[ [\ `eZfigfiXi d\[`[Xj ZfeZi\kXj [\ j\$ ^li`[X[ m`Xc \e jl gi}Zk`ZX Zfk`[`XeX% 8 e`m\c eXZ`feXc# j\ cc\mX X ZXYf ĂˆKfpfkX p mfj% DXe\aXi j\^lif \jk} \e el\jkiXj dXefjÉ# le Zlijf k\Â?i`Zf p gi}Zk`Zf ^iXkl`kf [`i`^`[f X aÂ?m\e\j Zfe i\^`jkif p X jlj gX[i\j# ^\e\iXe$ [f le \jgXZ`f [\ i\Ă•\o`Â?e jfYi\ cX i\jgfejXY`c`[X[ [\ Zfe[lZ`i hl\ pX i\Zfii`Â? 9l\efj 8`i\j# IfjXi`f# :Â?i$ [fYX# G`eXdXi# D\e[fqX# \eki\ fkiXj Z`l[X[\j% D`\ekiXj cfj aÂ?m\e\j i\Xc`$ qXe j\j`fe\j gi}Zk`ZXj \e le m\_ˆZl$ cf YXaf cX jlg\im`Z`Â?e [\ `ejkilZkfi\j# cfj gX[i\j ZfefZ\e cfj i`\j^fj [\ le Z_fhl\ \e le j`dlcX[fi [\ `dgXZkf% D\[`f XdY`\ek\ <e [`Z`\dYi\ Â’ck`df# KfpfkX 8i$ ^\ek`eX gi\j\ekÂ? jl .— I\gfik\ [\ Jljk\ekXY`c`[X[% P Xccˆ j\ [\kXccXe cfj i\jlckX[fj [\# gfi \a\dgcf# cX :Xd$ gXÂŒX [\ <[lZXZ`Â?e 8dY`\ekXc \e \j$ Zl\cXj gi`dXi`Xj i\Xc`qX[X \e :Xd$ gXeX p Q}iXk\% Jfe \eZl\ekifj gXiX _XYcXi jfYi\ ZfekXd`eXZ`Â?e# cX ^\e\$ iXZ`Â?e [\ i\j`[lfj# Zfej\imXZ`Â?e [\c X^lX p Zfej\imXZ`Â?e [\c jl\cf% Alekf X cX F;J Fi^Xe`qXZ`Â?e gXiX \c ;\jXiifccf Jfjk\e`Yc\ p Xc @E<K @ejk`klkf EXZ`feXc [\ <[lZX$ Z`Â?e K\ZefcÂ?^`ZX # j\ [`f `e`Z`f Xc (\i Zlijf [\ ZXgXZ`kXZ`Â?e [fZ\ek\ jf$ Yi\ ;\jXiifccf Jfjk\e`Yc\# [\ekif [\c gif^iXdX [\ <[lZXZ`Â?e XdY`\ekXc

ĂˆJ\d`ccXj [\ :XdY`fÉ% GXik`Z`gXife [fZ\ek\j [\ e`m\c j\Zle[Xi`f [\ ZlXkif \jZl\cXj [\ Q}iXk\ p Z`eZf [\ :XdgXeX% <c fYa\k`mf \j Zfeki`$ Yl`i Xc [\jXiifccf jljk\ekXYc\ [\ cX jfZ`\[X[ Yi`e[Xe[f X cfj aÂ?m\e\j _\iiXd`\ekXj [\ ^\jk`Â?e jfjk\e`Yc\% G\if le j\^d\ekf hl\# j`e [l[X# X e`m\c dle[`Xc# kiXYXaX ]l\ik\d\ek\ KfpfkX \j \c [\ cX Dfm`c`[X[ jljk\e$ kXYc\# \e YljZX [\ k\Zefcf^ˆXj hl\ d`e`d`Z\e \c `dgXZkf XdY`\ekXc% ;\ _\Z_f# \j cX gi`d\iX ZfdgXŒˆX \e cX `e[ljki`X Xlkfdfki`q \e ]XYi`ZXi \e j\i`\# Xlkfj Zfe K\Zefcf^ˆX ?ˆYi`[X% <e (00.# KfpfkX cXeqÂ? \c Gi`lj# le Xl$ kfdÂ?m`c hl\ ZfdY`eX [fj le`[X[\j gifglcjfiXj dfkfi [\ ZfdYljk`Â?e `ek\ieX p dfkfi \c„Zki`Zf [\ d}o`df [\j\dg\ÂŒf# Zfe leX \okiXfi[`eXi`X \ZfefdˆX [\ ZfdYljk`Yc\# d`e`d`$ qXe[f cXj \d`j`fe\j [\ ^Xj\j% P \e efm`\dYi\ [\ )''0# KfpfkX 8i^\ek`$ eX cXeqÂ? \c Gi`lj *iX% >\e\iXZ`Â?e \e \c d\iZX[f Xi^\ek`ef% 8j\^liX \c `e^\e`\if BifeY\i^ hl\ cX IJ< ]fidX gXik\ [\ cX \jkiXk\$ ^`X ZfigfiXk`mX Xik`ZlcXe[f \c mXcfi jfZ`Xc$XdY`\ekXc Zfe \c \ZfeÂ?d`Zf% Ăˆ:i\\dfj hl\ cX ½:fdg\k`k`m`[X[ I\jgfejXYc\ž Xld\ekX \c mXcfi [\ d\iZX[f [\ cXj \dgi\jXj# gfi \jf cX _XZ\dfj gXik\ [\ ZX[X leX [\ cXj [`d\ej`fe\j [\ el\jkif e\^fZ`f% <c i\Z`\ek\ cXeqXd`\ekf [\c Gi`lj *iX% >\e\iXZ`Â?e# \j leX ZcXiX dl\jkiX [\ ZÂ?df `ek\^iXi cX `eefmXZ`Â?e p cfj Xjg\Zkfj XdY`\ekXc\j \e leX m\ekXaX Zfdg\k`k`mXÉ%

..

<dgi\jXj p :fdle`[X[

N8CD8IK 8I><EK@E8

<e cX Y’jhl\[X [\ jfclZ`fe\j jljk\ekXYc\j <j gfcˆk`ZX [\ cX ZfdgXŒˆX Zfejk`kl`ij\ \e le d`\d$ Yif XZk`mf [\ cXj Zfdle`[X[\j [fe[\ \jk} gi\j\ek\% <j\ \j \c gi`eZ`g`f hl\ fi`\ekX kf[Xj cXj XZZ`fe\j p gif^iXdXj m`eZlcX[fj Zfe cX Zfdle`[X[

C

X ZlckliX ZfigfiXk`mX [\ NXcdXik j\ ]fZXc`qX \e le ]l\ik\ p XZk`mf Zfdgifd`jf Zfe cX Zfdle`[X[ hl\ `ek\^iX% <j X kiXm„j [\ jlj d}j [\ /-'' Xjf$ Z`X[fj hl\ cX ZfdgXŒˆX dXk\i`X$ c`qX jl Zfdgifd`jf Zfe cX Zfdl$ e`[X[1 gXiX NXcdXik 8i^\ek`eX# cX I\jgfejXY`c`[X[ JfZ`Xc Ăˆ\j le ZfekiXkf X e`m\c ZfigfiXk`mf hl\ j\ \a\iZ\ X kiXm„j [\ cX Ă”^liX [\c MfclekXi`X[f :figfiXk`mfÉ% CX ZfdgXŒˆX cc\mX X[\cXek\ ZXdgXÂŒXj XelXc\j fi`\ekX[Xj X [Xi i\jgl\jkXj ZfeZi\kXj \e k„id`efj [\ \[lZXZ`Â?e# d\[`f XdY`\ek\# elki`Z`Â?e# gifdfZ`Â?e jfZ`Xc p k\iZ\iX \[X[# \eki\ fkiXj% Cl\^f [\ cX Zi`j`j \ZfeÂ?d`ZX p gfcˆk`ZX gfi cX hl\ XkiXm\jÂ? el\j$ kif gXˆj# X Ă”eXc\j [\ )''( p gi`eZ`$ g`fj [\ )'')# NXcdXik 8i^\ek`eX `ek\ekX i\[\Ă”e`i jl gfcˆk`ZX [\

./

Xpl[X X cX Zfdle`[X[ [\ ]fidX kXc [\ kiXjZ\e[\i cXj XZk`m`[X[\j e\kXd\ek\ Xj`jk\eZ`Xc`jkXj# Zfe \c fYa\k`mf [\ gifgfiZ`feXi jfcl$ Z`fe\j jljk\ekXYc\j p g\i[liX$ Yc\j \e \c k`\dgf1 cfj gif^iXdXj [\ Xpl[X X cX Zfdle`[X[ j\ i\[\$ Ă”e\e Zfe c`e\Xd`\ekfj gifdfZ`f$ eXc\j% <c Zfdgifd`jf [\ cX ZfdgXŒˆX Zfe cX Zfdle`[X[ m`m\ \e ZX[X leX [\ cXj k`\e[Xj# \e \c Z\ekif [\ [`jki`YlZ`Â?e p cX :XjX :\ekiXc% <e \jk\ dXiZf# \e ZX[X leX [\ \jkXj fg\iXZ`fe\j ]leZ`feX le :fd`k„ [\ 8pl[X X cX :fdle`[X[# Zfe$ ]fidX[f gfi XjfZ`X[fj# hl\ Zfe mfZXZ`Â?e [\ j\im`Z`f# Yi`e[Xe jf$ clZ`fe\j ZfeZi\kXj X cXj e\Z\j`$ [X[\j p g\[`[fj [\ cX Zfdle`[X[ `ed\[`XkX% :XdgXÂŒXj XelXc\j CX ZfdgXŒˆX _X ]fd\ekX[f cX Zi\XZ`Â?e [\ :fd`k„j [\ 8pl[X X cX :fdle`[X[ :8: # Zfe]fidX$ [fj gfi mfclekXi`fj [\ kf[fj cfj j\Zkfi\j [\ cX ZfdgXŒˆX \e ZX[X leX [\ jlj fg\iXZ`fe\j% <e dXk\i`X [\ \[lZXZ`Â?e# [\$ jXiifccX [`jk`ekfj gif^iXdXj m`eZlcX[fj Zfe cX gifdfZ`Â?e [\

\[lZXZ`Â?e Zfdf \a\ Z\ekiXc [\ jl Zfdgifd`jf Zfe cX Zfdle`[X[% <eki\ \ccfj# j\ [\jkXZX cX ZXdgX$ ÂŒX Ăˆ9l\eXj Y`Yc`fk\ZXj# 9l\efj M\Z`efjÉ# [\jXiifccX[X alekf X cX =le[XZ`Â?e :fdgifd`jf# hl\ Ylj$ ZX XgfpXi p ]fikXc\Z\i cXj ZXgX$ Z`[X[\j [\ cXj Y`Yc`fk\ZXj gfgl$ cXi\j j`klX[Xj \e Xc^leXj [\ cXj Zfdle`[X[\j [fe[\ cX ZfdgXŒˆX k`\e\e gi\j\eZ`X% ĂˆNXcdXik \ek`\e[\ X cX \[lZX$ Z`Â?e Zfdf le g`cXi ]le[Xd\ekXc gXiX Zi\Xi leX jfZ`\[X[ [\ `^lX$ c\j% 9Xaf \jkX gi\d`jX# cX Zfd$ gXŒˆX cc\mX X[\cXek\ [`]\i\ek\j ZXdgXÂŒXj m`eZlcX[Xj Zfe cX gif$ dfZ`Â?e [\ \[lZXZ`Â?e Zfdf \a\ Z\ekiXc [\ jl Zfdgifd`jf Zfe cX Zfdle`[X[É# Zfd\ekÂ? ?\ie}e :XiYfe`# ;`i\Zkfi [\ I\cXZ`fe\j @ejk`klZ`feXc\j [\ NXcdXik% <e ZlXekf X GifdfZ`Â?e JfZ`Xc# cX \dgi\jX Ă”idÂ? Zfe :}i`kXj 8i$ ^\ek`eX \c gif^iXdX [\ 8gfik\ Elki`Z`feXc NXcdXik Æ :}i`kXj# hl\ Zfejk`klp\ XZklXcd\ek\ \c \a\ d}j `dgfikXek\ [\ cXj XZZ`fe\j [\ i\jgfejXY`c`[X[ jfZ`Xc Zfigf$ iXk`mX hl\ [\jXiifccX cX ZfdgXŒˆX% <e k„id`efj fg\iXk`mfj# \c Zfem\$ e`f XgfikÂ? \c dXiZf [\ XZklXZ`Â?e gXiX cX `dgc\d\ekXZ`Â?e [\ [`m\i$ jXj XZk`m`[X[\j# hl\ XcZXeqXe \e cX XZklXc`[X[ X *' Z\ekifj Xj`j$ k\eZ`Xc\j# Y\e\Ă”Z`Xe[f X d}j [\ ((%''' g\ijfeXj% :X[X Zfd`k„ [\ Xpl[X [feX d\ejlXcd\ek\ (%,'' \e Xc`d\e$ kfj% <c \jki\Z_f mˆeZlcf `ejk`klZ`f$

gfi jl Zfdgfj`Z`Â?e# \dgXhl\ f gifZ\jfj [\ ]XYi`ZXZ`Â?e% <jk\ d`jdf ZfeZ\gkf j\ Xgc`ZX X cfj gif[lZkfj [\ dXiZX gifg`X hl\ gfj\\ cX ZfdgXŒˆX# >i\Xk MXcl\ f J`dgcp 9Xj`Z% 8j`d`jdf# alekf X \dgi\jXj cˆ[\i\j f]i\Z`Â? \jgXZ`fj [\ ZfeZ`\ek`qXZ`Â?e gXiX ^iXe[\j p Z_`Zfj d\[`Xek\ \m\ekfj \oZclj`$ mfj \e Xc^leXj [\ cXj k`\e[Xj hl\ cX ZX[\eX gfj\\ \e \c gXˆj% 8j`d`jdf# \e cX 8i^\ek`eX# NXc$ dXik Zfe]fidX \c ^ilgf [\ cXj (' \dgi\jXj ]le[X[fiXj [\ Ăˆ:Xd`$ eXe[f AlekfjÉ# \ek`[X[ XĂ”c`X[X X cX i\[ `ek\ieXZ`feXc Le`k\[ NXp%

<e cfj cfZXc\j [\ NXcdXik 8i^\ek`eX# cX ZXdgXÂŒX Ăˆ9l\$ eXj Y`Yc`fk\ZXj# 9l\efj m\Z`efjÉ \e XZZ`Â?e

eXc XcZXeqX[f Zfe :}i`kXj `dglcjÂ? X hl\# [\j[\ \c XÂŒf )''*# j\ [\$ jXiifcc\ XelXcd\ek\ cX ZXdgXÂŒX [\ i\[fe[\f [\ ml\ckf Ăˆ:fe GfZf _XZ\dfj DlZ_fÉ% CX d`jdX `em`kX X cfj Zc`\ek\j X hl\ i\Xc`Z\e mfcle$ kXi`Xd\ek\ cX [feXZ`Â?e [\ gXik\ [\ jl ml\ckf% <c dfekf i\ZXl[X$ [f j\ [\jk`eX X Ă”eXeZ`Xi d\afiXj \jkilZkliXc\j \e cXj Zfe[`Z`fe\j \[`c`Z`Xj p \c [\jXiifccf [\ XZk`$ m`[X[\j [\ gifdfZ`Â?e jfZ`Xc \e ZX[X lef [\ cfj *' Z\ekifj Xj`j$ k\eZ`Xc\j Zfe cfj hl\ j\ m`eZlcXe cfj :fd`k„j [\ 8pl[X X cX :fdl$ e`[X[% CX ZXdgXÂŒX pX cc\mX . XÂŒfj Zfej\Zlk`mfj [\ \a\ZlZ`Â?e p \j Xl[`kX[X gfi Ă”idXj Zfdf GN: f <iejk Pfle^% <e kfkXc j\ i\ZXl$ [Xife (%./.%(--% 8j`d`jdf# cX \dgi\jX i\Xc`qX [`]\i\ek\j XZZ`fe\j i\cXZ`feX[Xj Zfe \c Zl`[X[f [\c d\[`fXdY`\e$ k\% <jk\ XÂŒf j\ Z\c\YiÂ? \c ĂˆD\j [\ cX k`\iiXÉ# le \m\ekf hl\ ZfemfZÂ? X d}j [\ ,' gifm\\[fi\j# gXiX hl\ gl[`\j\e f]i\Z\i \e leX ^Â?e[fcX \oZclj`mX Xhl\ccfj gif[lZkfj Zfe$

Cl\^f [\ cX Zi`j`j [\ )''(&') \e el\jkif gXˆj# cX \dgi\jX i\[\Ă”e`Â? jl gfcˆk`ZX [\ Xpl[X X cX Zfdle`[X[ gXiX kiXjZ\e[\i cXj XZk`m`[X[\j e\kXd\ek\ Xj`jk\eZ`Xc`jkXj gfi jfclZ`fe\j

j`[\iX[fj Zfdf ĂˆXd`^XYc\j Zfe \c d\[`f XdY`\ek\É% ĂˆJ\ kiXkX [\ le \jgXZ`f gfi d\[`f [\c ZlXc gif$ m\\[fi\j# XjfZ`X[fj p Zfdle`[X[ \e ^\e\iXc# gf[i}e dXk\i`Xc`qXi jl Zfdgifd`jf Zfe \c gcXe\kX# d\$ [`Xek\ XZZ`fe\j ZfeZi\kXj m`eZl$ cX[Xj Zfe \c Zfejldf i\jgfejX$ Yc\ p cX gi\j\imXZ`Â?e [\ i\ZlijfjÉ# \ogc`ZÂ? :XiYfe`% GXiX gfe\icf \e gi}Zk`ZX# NXc$ dXik kiXYXaÂ? alekf X gifm\\[fi\j# dle[`Xc\j p cfZXc\j# gXiX gfe\i X [`jgfj`Z`Â?e [\ cfj Zc`\ek\j d}j [\ +'' gif[lZkfj Xd`^XYc\j pX j\X

D`\dYifj XZk`mfj Ăˆ<e NXcdXik \jkXdfj Zfem\e$ Z`[fj \e cX `dgfikXeZ`X [\ Zfej$ k`kl`iefj \e d`\dYifj XZk`mfj [\ cXj Zfdle`[X[\j [fe[\ \jkXdfj gi\j\ek\jÉ# [`af :XiYfe`% 9Xaf \jkX Zfem`ZZ`Â?e# Zi\\e hl\ kf[Xj cXj \dgi\jXj [\Y\e Zfe$ m\ik`ij\ \e X^\ek\j [\ ZXdY`f e\$ Z\jXi`f# gXiX cf^iXi leX jfZ`\[X[ [\ `^lXc\j% GXiX cf^iXicf \j e\Z\$ jXi`f hl\ \a\Zlk\e XZZ`fe\j gcX$ e`Ă”ZX[Xj gfi d\[`f [\ cXj ZlXc\j j\ cc\m\e X[\cXek\ XZk`m`[X[\j hl\ [\e i\jgl\jkXj ZfeZi\kXj X cXj e\Z\j`[X[\j [\ cX jfZ`\[X[% ĂˆCXj \dgi\jXj ÆX^i\^Â?Æ e\$ Z\j`kXe i\ZfefZ\i [\ \jkX ]fidX \c gXg\c [\ c`[\iXq^f hl\ [\Y\ Xjld`i \c j\Zkfi gi`mX[f gXiX XZfdgXÂŒXi \c gif^i\jf jfZ`Xc# cX \hl`[X[ p le Zfii\Zkf dXe\af [\ cfj i\Zlijfj eXkliXc\j% <e el\jkiX ZfdgXŒˆX \jkXdfj Zfem\eZ`[fj hl\ cc\mXi X[\cXek\ \c e\^fZ`f [\ ]fidX \Ă”Z`\ek\ p Zfejfc`[Xi mXcf$ i\j „k`Zfj jfe d\kXj hl\ j\ gl\$ [\e cf^iXi alekXj% Gfi \jkf kiXYX$ aXdfj [\ ]fidX ZfcXYfiXk`mX Zfe kf[fj cfj XZkfi\j [\ cX jfZ`\[X[# gXiX \a\ZlkXi XZZ`fe\j hl\ j\ \e$ dXiZXe \e leX \jkiXk\^`X Zfigf$ iXk`mX hl\ g\ij`^l\ Zfdf Ă”e Â’ck`$ df \c Y`\e\jkXi [\ cX jfZ`\[X[É%

.0

9i\m\j

DXjjXc`e GXik`ZlcXi\j Æ jfdfj ZXgXZ\j

=le[XZ` e K\c\] e`ZX ;jcYVX^ c IZaZ[ c^XV! V igVk h YZa egd\gV" bV KdajciVg^dh IZaZ[ c^XV! YjgVciZ '%%. aaZk V XVWd ,* egdnZXidh hdX^VaZh ^YZV" Ydh edg hjh kdajciVg^dh! eVgV adh XjVaZh YZhi^c jcV ^ckZgh^ c YZ +.%#((* eZhdh# AVh ^c^X^Vi^kVh b{h YZhiVXVYVh [jZgdc aV egdk^h^ c YZ Zfj^eVb^Zcid Va BjhZd YZ 8^ZcX^Vh CVijgVaZh YZ 7V] V 7aVcXV0 aV gZbdYZaVX^ c YZ aV XdX^cV YZa 8dbZYdg 8dbjc^iVg^d Ûc\ZaZh YZ Ajo YZ BZcYdoV0 n aV XdchigjXX^ c YZ jc VjaV Zc aV :hXjZaV C° )'(+ Æ;gVn 7Vgidadb YZ AVh 8VhVhÇ! Zc aV adXVa^YVY YZ >gjnV! HVaiV# Edg eg^bZ" gV kZo! kdajciVg^dh Vg\Zci^cdh eVgi^X^eVgdc YZ aV ^c^X^Vi^kV ÆKVXVX^dcZh Hda^YVg^VhÇ! bZY^VciZ aV XjVa gZVa^oVgdc iVgZVh Xdbj" c^iVg^Vh Zc dg\Vc^oVX^dcZh hdX^VaZh fjZ eVgi^X^eVc YZa egd\gVbV Egdc^ d YZ HVc 8Vgadh YZ 7Vg^adX]Z! HVaiV! K^ggZnZh egd" k^cX^V YZ 7jZcdh 6^gZh ! n Zc Za EZg #

J<J8 J\c\Zk gi\j\ek gifp\Zkfj \[lZXk`mfj gXiX cX clZ_X ZfekiX \c J@;8 H:H6 HZaZXi! eZgiZcZX^ZciZ V GVcYhiVY! Za hZ\jcYd \gjed b{h \gVcYZ V c^kZa bjc" Y^Va Zc hZgk^X^dh YZ GZXjghdh =jbVcdh! egZhZci jc egd\gVbV YZ ZYjXVX^ c Zc ZhXjZaVh hZXjcYVg^Vh YZ GdhVg^d fjZ hZ gZVa^oVg{ YjgVciZ '%&% YZ aV bVcd YZ KdaajciVgn HZgk^XZ DkZghZVh KHD ! DC< ^ciZgcVX^dcVa fjZ igVWV_V [jZgiZbZciZ Zc egZkZcX^ c YZa K=>$H>96 Z ^chZgX^ c aVWdgVa YZ eZghdcVh ^c[ZXiVYVh#

/'

CjZkVbZciZ YjgVciZ ZhiZ V d! BVhhVa^c EVgi^XjaVgZh hZ\j^g{ ^beaZbZciVcYd hjh egd\gVbVh YZ GH: VÒVcoVcYd hj Xdb" egdb^hd Xdc aV Xdbjc^YVY! YZhi^cVYdh V [dgiVaZXZg XVeVX^YVYZh hdX^VaZh! eVgi^X^eVg Zc aV ZggVY^XVX^ c n egZkZcX^ c YZa igVWV_d ^c[Vci^a! YZhVggdaaVg egd\gVbVh YZ [dgZhiV" X^ c n ZaVWdgVg ZhigViZ\^Vh eVgV Zk^iVg fjZ adh bZcdgZh [jbZc#

I\jlckX[fj E\jkc )''0 :a k^ZgcZh &. YZ [ZWgZgd YZ '%&% CZhia H6 VcjcX^ adh gZhjaiVYdh YZa V d '%%.# EVja 7jaX`Z! 8:D YZ CZhia ! Wg^cY jcV Xdc[ZgZcX^V YZ egZchV! V igVk h YZ jcV igVchb^h^ c fjZ hZ ejYd hZ\j^g Zc k^kd V aVh + YZ aV bV VcV! ]dgV Vg\Zci^cV! ^c\gZhVcYd Zc Za a^c` ]iie/$$Xa^Zcih#ldgaY"iZaZk^h^dc#Xdb$cZhiaZ$ f)%.TegZhh$#

DG> 8i^\ek`eX ZfcXYfi XZk`mXd\ek\ Zfe cX FE> :feZ`\eZ`X# ZfeZ\ekiXe[f \c dXe\af `ek\^iXc cfj d\[`fj D[gZX^ eaVc^ÒXVX^ c ZhigVi \^XV! ZheVX^dh \gVij^idh! Zck d YZ bViZg^V" aZh n Xdcigda YZ aV XVbeV V# 8dcX^ZcX^V Zh jcV 6hdX^VX^ c 8 k^XV! cd eVgi^YVg^V! h^c ÒcZh YZ ajXgd# ;jZ [jcYVYV Zc &.-' XdchX^ZciZ fjZ aV eVgi^X^eVX^ c eda i^XV gZhedchV" WaZ Zh jcV dWa^\VX^ c YZa X^jYVYVcd# Hj b^h^ c Zh YZheZgiVg Zc aVh eZghdcVh aV XdcX^ZcX^V YZ hj XdcY^X^ c YZ X^jYVYVcdh igVchb^i^ cYdaZh ^YZVaZh YZbdXg{i^Xdh n gZejWa^XVcdh V Òc YZ fjZ Z_ZgoVc aV X^jYVYVc V cd h ad Xdbd jc YZgZX]d h^cd Xdbd jcV gZhedchVW^a^YVY n aV egdbdX^ c YZ VXX^dcZh iZcY^ZciZh V ad\gVg Za W^ZcZhiVg ^ciZ\gVa n Za YZhVggdaad hdX^d"ZXdc b^Xd \ZcZgVa#

8lkfj

B`X Df_Xm\

=fikXc\qX kf[fk\ii\ef p Zfe]fik \e cX Z`l[X[ <c Df_Xm\ m`\e\ X `eZi\d\ekXi cX ]Xd`c`X [\ JLM [\ B`X p j\ jldX X cfj \o`kfjfj JgfikX^\ p Jfi\ekf% F]i\Z\ le Xckf e`m\c [\ k\Zefcf^ X# \hl`gXd`\ekf p Zfe]fik# ZXgXZ`[X[ gXiX j`\k\ gXjXa\ifj p le dfkfi eX]k\if M- [\ *%/ c`kifj p )., :M% :fdY`eX ]l\ik\j ZlXc`[X[\j kXekf \e Xj]Xckf Zfdf \e f]]$ifX[

/)

=XZle[f DXik e\q GXi[f

C

X \mfclZ` e [\ B`X \e cfj ck`$ dfj X fj# ef j cf \e \c d\i$ ZX[f cfZXc j`ef \e \c dle[f# \j efkXYc\ p gif[lZkfj Zfdf \c Df_X$ m\ iXk`ÔZXe \jkX XmXeqX[X% CX d\afiX ZfejkXek\ \e cX ZXc`[X[# cX k\Zefcf^ X p \c [`j\ f [\ jlj m\_ Zlcfj jfe g`cX$ i\j ZcXm\ \e \c o`kf [\ \jkX `e[ljki`X Zfi\XeX hl\ ^XeX gfj`Z`fe\j gfihl\ \ek\e[` hl\ \j\ \j \c ZXd`ef# Xj Zfdf cf _`Z`\ife cXj Xlkfdfki`Z\j aX$ gfe\jXj \e cfj ¡/'% ?fp le gif[lZkf [\ B`X j\ \eZl\ekiX \e \c d`jdf e`$ m\c hl\ lef j`d`cXi [\ leX dXiZX \l$ ifg\X# aXgfe\jX f efik\Xd\i`ZXeX% P \j\ \j le kiXYXaf hl\ kfdX k`\dgf p leX [\Z`j` e Ôid\ [\ cXj \dgi\jXj hl\ e\Z\j`kXe ef j cf [\ le ^iXe \j$ ]l\iqf [\ kiXYXaf j`ef [\ dlZ_ j`dX `em\ij` e gXiX ÈjXZXic\É d\iZX[f X cXj dXiZXj pX Zfejfc`[X[Xj% <c Df_Xm\ \j le JLM Jgfik Lk`c`kp M\_`Zc\ ^iXe[\# hl\ j\ lY`ZX gfi \e$ Z`dX gfi kXdX f p gi\jkXZ`fe\j [\ jlj _\idXefj1 \c ZfdgXZkf Jgfi$ kX^\ p \c d\[`Xef Jfi\ekf% <eki\ cfj ki\j df[\cfj Zfe]fidXe cX ]Xd`c`X

[\ +o+ [\ B`X# leX ^XdX dlp Y`\e i\Z`Y`[X gfi \c d\iZX[f Xi^\ek`ef% 8hl cc\^X [\j[\ \c X f ck`df Zfe leX m\ij` e \hl`gX[X Zfe le gfk\e$ k\ dfkfi eX]k\if [\ - Z`c`e[ifj \e M# *%/ c`kifj p )., ZXYXccfj [\ ]l\iqX% J\ ZXiXZk\i`qX gfi jl ^iXe Xdgc`kl[ `ek\i`fi Zfe ZXgXZ`[X[ gXiX j`\k\ gX$ jXa\ifj \e ki\j ÔcXj [\ Xj`\ekfj# jlj dlp Yl\eXj Xgk`kl[\j f]]$ifX[ p jl \c\mX[f e`m\c [\ k\Zefcf^ X p \hl`gX$ d`\ekf [\ j\^li`[X[ p Zfe]fik% <c [`j\ f [\c Df_Xm\ Zfii\jgfe[\ X cfj c`e\Xd`\ekfj hl\ B`X c\ \jk} [Xe[f X jlj m\_ Zlcfj \e cfj ck`dfj X fj# Zfe dXpfi g\ijfeXc`[X[ p [`$ eXd`jdf [\ c e\Xj p le \jk`cf d}j \lifg\f# gXiX Zfej\^l`i dXpfi o`kf Zfd\iZ`Xc \e cfj d\iZX[fj `ek\ieX$ Z`feXc\j p ef j cf \e cfj Xj`}k`Zfj% J\ [\jkXZX gfi jl \jk k`ZX [\ kiXqfj YXjkXek\ i\Zkfj# hl\ `iiX[`X ifYljk\q# ^lXi[XYXiifj Y`\e dXiZX[fj# leX c $ e\X [\ Z`ekliX XckX p XjZ\e[\ek\ \e \c ck`df kiXdf# \jki`Yfj cXk\iXc\j gXiX d\afiXi \c XjZ\ejf&[\jZ\ejf p leXj ^iXe[\j il\[Xj \hl`gX[Xj Zfe ccXekXj [\ Xc\XZ` e [\ (/ glc^X[Xj Zfe e\ld}k`Zfj \e d\[`[X )-,&-,

I(/% <jkf ef jÂ?cf ]fikXc\Z\ jl `dgXZ$ kf m`jlXc j`ef hl\ d\afiX cXj Xgk`kl$ [\j [\c m\_ˆZlcf \e f]]$ifX[% Gfi kXdXÂŒf p \jgXZ`f `ek\i`fi j\ lY`$ ZX Xc kfg\ [\c j\^d\ekf [\ cfj JLM ^iXe[\j p XglekX X ljlXi`fj hl\ c\j ^ljk\ [`j]ilkXi ef jÂ?cf [\ le m\_ˆZl$ cf +o+ gi\d`ld \e ZlXekf Xc \hl`gX$ d`\ekf p \c Zfe]fik `ek\i`fi p [\ dXi$ Z_X# j`ef kXdY`„e [\ dlp Yl\eXj gi\jkXZ`fe\j \e ilkX p ]l\iX [\ \ccX# Zfe \oZ\c\ek\ kiXZZ`Â?e \e kf[f k`gf [\ ZXd`efj p Zfe ]l\iqX p i\j`jk\e$ Z`X gXiX k\ii\efj [`]ˆZ`c\j% GXiX \ccf Zl\ekX Zfe le j`jk\dX [\ kiXZZ`Â?e +o+ Zfe XckX p YXaX hl\# XlkfdXk`ZX$ d\ek\# kiXejĂ”\i\ \e ]fidX gXiZ`Xc cX ]l\iqX [\c ki\e kiXj\if Xc [\cXek\if [\ XZl\i[f X cXj Zfe[`Z`fe\j [\ X[$ _\i\eZ`X [\ ZX[X ki\e [\ kiXZZ`Â?e% CX ZXiifZ\iˆX [\c Df_Xm\ \jk} dfe$ kX[X jfYi\ leX el\mX \jkilZkliX [\efd`eX[X ĂˆYf[p$fe$]iXd\É# \hl`$ gX[X Zfe jljg\ej`fe\j `e[\g\e$ [`\ek\j# kXekf \e \c j\Zkfi [\cXek\if Zfdf \e \c kiXj\if% Cfj \c\mX[fj \jk}e[Xi\j [\ j\^l$ i`[X[ c\ g\id`k`\ife fYk\e\i leX ZXc`Ă”ZXZ`Â?e [\ Z`eZf \jki\ccXj \e cXj gil\YXj [\ Z_fhl\# kXekf ]ifekXc\j Zfdf cXk\iXc\j# i\Xc`qX[Xj \e <jkX$ [fj Le`[fj% Gfj\\ X`iYX^j ]ifekXc\j# cXk\iXc\j p [\ Zfik`eX gXiX cXj ki\j Ă”$ cXj [\ Xj`\ekfj# ]i\efj X [`jZf \e cXj ZlXkif il\[Xj Zfe Xek`Ycfhl\f 89J p [`jki`YlZ`Â?e \c\ZkiÂ?e`ZX [\ cX ]l\i$ qX [\ ]i\eX[f# Zfekifc [\ kiXZZ`Â?e p \jkXY`c`[X[# j\ejfi\j kiXj\ifj [\ \j$ kXZ`feXd`\ekf d}j leX Z}dXiX [\ Xj`jk\eZ`X gXiX m`j`Â?e \e i\kifZ\jf# p \c Xj`jk\ek\ [\ Zfekifc [\ [\jZ\e$ jf# hl\ dXek`\e\ \c m\_ˆZlcf \e leX m\cfZ`[X[ YXaX p ZfejkXek\ j`e hl\ \c Zfe[lZkfi k\e^X cX e\Z\j`[X[ [\

XZ\c\iXi f ]i\eXi# \jg\Z`Xcd\ek\ [\jXiifccX[f gXiX k\ii\efj f]]$ifX[# ZlXe[f j\ lk`c`qXe j\Zkfi\j [\ YX$ aX[Xj [\ gfZX X[_\i\eZ`X% KXdY`„e gfj\\ \c j`jk\dX hl\ \m`kX hl\ \e leX g\e[`\ek\ \c m\_ˆZlcf j\ mXpX gXiX Xki}j ZlXe[f gXik\ [\ gXiX[f% Gfi \c cX[f [\c Zfe]fik# `eZfigfiX kXg`qX[fj \e Zl\if# YlkXZXj [\cXe$ k\iXj ZXc\]XZZ`feX[Xj p Zfe Xaljk\j \c„Zki`Zfj# Zc`dXk`qX[fi Xlkfd}k`Zf Zfe Zfekifc\j `e[\g\e[`\ek\j# ]Xifj [\ o\eÂ?e# k\Z_f Zfii\[`qf \c„Zki`Zf# Zfekifc [\ m\cfZ`[X[ ZilZ\if# fi$ [\eX[fi [\ X Yfi[f dlck`]leZ`Â?e# g\[Xc\j i\^lcXYc\j \c„Zki`ZXd\ek\# p \hl`gf [\ Xl[`f Zfe :;# DG* Zfd$ gXk`Yc\ Zfe `Gf[ p Zfe \ekiX[X LJ9% FkiX [\ cXj ZXiXZk\iˆjk`ZXj jfYi\$ jXc`\ek\j [\c gif[lZkf [\ B`X \j jl ^XiXekˆX% K`\e\ \c dXpfi e`m\c [\ ^X$ iXekˆX hl\ j\ f]i\Z\ \e \c d\iZX[f Xi^\ek`ef1 , XÂŒfj j`e cˆd`k\ [\ b`cf$ d\kiXa\% P X[\d}j \j kiXej]\i`Yc\1 j` \c m\_ˆZlcf \j m\e[`[f Xek\j [\ \jfj Z`eZf XÂŒfj# \c ZfdgiX[fi j`^l\ Zfe$ kXe[f Zfe \jk\ i\jgXc[f% 8[\d}j# gfi le XZl\i[f Zfe Cf AXZb# \c Df$ _Xm\ k`\e\ Zfdf \hl`gXd`\ekf [\ j\i`\ \c j`jk\dX Gfn\i 8jj`jk ^iXk`j gfi le XÂŒf# Zfdle`ZXZ`Â?e Ăˆfe c`e\É dXefj c`Yi\j# gi\j`feXe[f le YfkÂ?e \e \c kXYc\if# Zfe le fg\iX[fi g\ijf$ eXc`qX[f hl\ Xk`\e[\ ZfejlckXj [\ Xj`jk\eZ`X [\j[\ ZÂ?df cc\^Xi _XjkX \c \jkX[f [\ cfj ZXd`efj# gifeÂ?jk`Zf [\c k`\dgf f i\jlckX[fj [\ ]Â’kYfc% :fe \c Df_Xm\# B`X Zl\ekX Zfe le gif[lZkf \e cX ^XdX XckX [\ cfj JLM# hl\ i\]l\iqX \c gifkX^fe`jdf cfZXc \eki\ cXj dXiZXj `dgfikX[Xj \e cfj Â’ck`dfj XÂŒfj# p hl\ j`^l\ jldXe[f d}j df[\cfj Zfdf \c d\[`Xef :\$ iXkf =fik\ f \c el\mf Jfi\ekf%

KIA MOHAVE :XiXZk\iˆjk`ZXj K„Ze`ZXj

CXi^f&8eZ_f&8ckf

+#//&(#0(&(#.- d\kifj

;`jkXeZ`X \eki\ \a\j

)#/0 d\kifj

E\ld}k`Zfj

)-,&-, I(/

:XgXZ`[X[ kXehl\ ZfdY% KiXZZ`Â?e :XaX [\ ZXdY`fj

/) c`kifj

`ek\^iXc Zfe XckX p YXaX Xlkfd}k`ZX , m\cfZ`[X[\j

Dfkfi

[\cXek\if eX]k\if

:`c`e[ifj&M}cmlcXj

- \e M&)+

:`c`e[iX[X

*../ Zd*%

Gfk\eZ`X d}o`dX GXi dfkfi d}o`df :fejldf gifd\[`f Gi\Z`f

)., :M X -%''' igd% *0#- b^d% X +%+'' igd% ('#, c`kifj&('' bd% l j ,/%*''

/*

K\e[\eZ`Xj & Kli`jdf

9dh Y Vh eVgV XVbW^Vg YZ V^gZ AVh ZhXVeVYVh ]VX^V aVh ZhiVcX^Vh hdc Za eaVid [jZgiZ YZa ijg^hbd V edXdh `^a bZigdh YZ aV X^jYVY YZ 7jZcdh 6^gZh! Xdc jcV XdbW^cVX^ c ^YZVa YZ gZaVm! hVWdgZh n XVWVa\ViVh Jfc\[X[ 8^lX[f

P

X c\afj [\c ZfeZ\gkf k\c i`Zf [\c j_fn ]fcZc i`Zf d}j XjX$ [f \e Zilq hl\ Xc^leX m\q cXj le`ÔZ \e cXj f]\ikXj kli jk`ZXj# cXj \jkXeZ`Xj j\ _Xe Zfem\ik`[f \e i\[lZkfj ZXk\^fi`qX[fj Zfe \jki\$ ccXj# [\ j\im`Z`f g\ijfeXc`qX[f p XZ$ k`m`[X[\j \eZXekX[fiXj hl\ j`im\e Xc gcXe [\ le Ôe [\ j\dXeX ifd}e$ k`Zf f Zfe cfj Z_`Zfj% CX [fj`j [\ X`i\ [\ ZXdgf cc\^X XZfdgX X[X [\ Zfd`[X [\c`Z`fjX \c XjX[f j\ dXek`\e\# j`e \oZ\gZ` e # ZXYXc^X$ kXj# gXj\fj \e Y`Z`Zc\kX# dXjXa\j# g`jZ`eX# p cXi^Xj _fiXj gXiX _XZ\i cf hl\ d}j efj ^ljk\1 [\j[\ \c c`$ Yif gi\]\i`[f Xc [`}cf^f gfjk\i^X[f \e cX j\dXeX# j}YX[f p [fd`e^f ]l\iX [\ cX Z`l[X[ jfe leX fgZ` e i\]i\jZXek\ gXiX i\jg`iXi gif]le[f p [`j]ilkXi% ;\ki}j [\ \jk\ gcXe ÆXgXi\ek\$ d\ek\ j`dgc\# Xlehl\ Zl}e [`] Z`c i\jlckX fcm`[Xij\ [\ cX X^\e[X \e j cf [fj [ XjÆ mX cX# X_fiX Z`eZf \jki\ccXj# <jkXeZ`X JXe :\]\i`ef# \e Fg\e ;ffi# jfYi\ cX IlkX -# X lefj (, d`elkfj [\ G`cXi% P cf Zfej`^l\% <c cX^f jliZX[f [\ gXkfj# cfj ZX$ iilXa\j \jg\iXe[f gXiX jXc`i X kif$ kXi _XZ`X \c kXdYf# DfiX JgX Zfe jl `ed\ejX g`jZ`eX Zc`dXk`qX[X# YX fj jXleX p ÔecXe[ j d}j kiX$ kXd`\ekfj hl\ cf [\aXe X lef Zfdf el\mf jfe Xg\eXj leX gXik\ [\ cfj \c\d\ekfj hl\ _XZ\e hl\ lef j\ Xgifg`\ [\ ZX[X j\ejXZ` e% G}iiX]f XgXik\ Xd\i`kXe cXj el\mXj jl`k\j [\ [`d\ej`fe\j ^\e\ifjXj p [\ZfiXZ` e hl\ cX gifg`\kXi`X ?\Y\ [\ <c\kX kiXaf [\ cXj cXk`kl[\j d}j [`m\ijXj [\c dle[f gXiX ZfdgXik`i Zfe cfj _l jg\[\j2 d}j cX ZfZ`eX#

/+

[\j[\ \c XjX[f `dg\ZXYc\ [\ cfj d\[`f[ Xj# gXjXe[f gfi \c k [lc$ q e [\ cXj kXi[\j p cXj efZ_\j [\ j}YX[f Zfe Yl]]\k `ek\ieXZ`feXc# XZfdgX X[f gfi cXj d\cf[ Xj [\ le g`Xef \e m`mf% GliXd\ek\ if$ d}ek`Zf# \j Z`\ikf# g\if kXdY` e le gcXe g\i]\Zkf gXiX hl\ cXj ]Xd`c`Xj [\a\e Zfii\k\Xi Xc X`i\ c`Yi\ f al^Xi \e cX gcXqX X cfj d}j Z_`Zfj d`\e$ kiXj cfj ^iXe[\j Xk`eXe lefj k`ifj \e \c [i`m`e^ f le gXik`[f [\ k\e`j% :fem\eZ`fe\j p \m\ekfj jfZ`Xc\j jfe fkif [\ jlj glekfj ]l\ik\j# if[\X[fj [\c m\i[\ d}j glif% ;\ _\Z_f# \c X f ck`df JXe :\]\i`ef X^i\^ le `ed\ejf jXc e X cfj (- pX \o`jk\ek\j# gXiX \ok\e[\i jl ZX$ gXZ`[X[ [\ i\Z\gZ` e gfi \eZ`dX [\ cXj d`c g\ijfeXj% <e cXj Zffi[\eX[Xj [\ cXj ccXeliXj [\ 9iXe[j\e# X Xg\eXj leX _fiX [\ cX ZXg`kXc# =`eZX DXi X :i`jk`eX [\j[\ _XZ\ gfZf k`\dgf# gXik\ [\ cX ZX[\eX ?fnXi[ Af_ejfe Zfe$ hl`jkX Zfe leX ZXjfeX fi`^`eXc [\ k\Z_f [\ k\aXj XeXiXeaX[Xj [fe[\ gi`dXe cXj _XY`kXZ`fe\j \e Zfcfi gXjk\c d}j fkiXj kXekXj jl`k\j hl\ d`iXe \c ZXdgf# kf[Xj \e^XcXeX$ [Xj Zfe fYiXj [\ Xik\ hl\ XYi\e cfj j\ek`[fj% <e kfief X \jkfj \jgXZ`fj ek`dfj# _Xp ^Xc\i Xj gXiX `ejkXcXi$ j\# \e i\gfj\iXj [\ dX[\iX f j`ccf$ e\j [\ iXkk}e% M\icX `cld`eX[X gfi cXj efZ_\j p hl\[Xij\ ZfekXe[f clZ` ieX^Xj f \jki\ccXj \e \c aXi[ e \j fkif gcXZ\i hl\ [\gXiX \c cl^Xi# \e \c j`c\eZ`f p cX fjZli`[X[% ;liXek\ \c [ X# [fj g`jZ`eXj Xc X`i\ c`Yi\ ZfdY`eXe jl k\ekXZ` e Zfe gXj\fj [\ X ZXYXccf _XjkX leX Xe$ k`^lX glcg\i X [\ X[fY\# Zfe k\Z_f [\ gXaX2 _Xp Y`Z`Zc\kXj gXiX \eZXiXi cfj ZXd`efj YXaf \c XifdX Zc}j`Zf

<_dYW CWh W 9h_ij_dW

CXj ki\j \jkXeZ`Xj i\Z`Y\e X jlj _l jg\[\j Zfe i\^`d\e\j [\ g\ej` e Zfdgc\kX# hl\ `eZclp\e cXj XZk`m`[X[\j# cf hl\ Xpl[X X [\jgi\fZlgXij\ [\ Xek\dXef% J cf _Xp hl\ \jkXi c`jkf gXiX [`j]ilkXi% Le Zfej\af1 i\j\imXi Zfe jlÔZ`\ek\ Xek`Z`gXZ` e

IWd 9[\[h_de

BW 9WdZ[bWh_W [\ cfj \lZXc`gkfj# j\ gl\[\ gifYXi jl\ik\ \eZ\jkXe[f dfe\[Xj \e cX YfZX \jhl`mX [\c jXgf# f cc\mXi X cfj d}j g\hl\ fj X le fi`^`eXc ZfekX`$ e\i Zfem\ik`[f \e jXcX [\ al\^fj# Zfe e` \iX `eZcl`[X% Kf[f mX XZfdgXjX[f X cXj d`iX[Xj Zli`fjXj [\ cXj mXZXj hl\ gXjkXe \e cfj gfki\ifj Z\iZXefj X cX ZXjX p Xc ZXekf [\ cfj g}aXifj% @eZcljf cfj Xcdl\iqfj# [fe[\ j\ clZ\e cXj ZXie\j XjX[Xj# cXj \ejXcX[Xj [\ cX _l\ikX# gXgXj i jk`ZXj p i\Z\kXj m\ie}ZlcXj% 8 cX _fiX [\ cX Z\eX# cX gifgl\jkX j\ `eZc`eX gfi cf ^fli$ d\k# Xlehl\ ef ]XckX cX c`^Xq e X cfj `e^i\[`\ek\j cfZXc\j% J`^l\ \c m`Xa\% I\ZXcX \e CfYfj# kXdY` e \e cX gifm`eZ`X [\ 9l\efj 8`i\j# \jkX m\q X (# (, d`elkfj \e Xlkf [\j[\ cX ZXg`kXc% <c \jk`cf Xhl j\ ml\cmX _XZ`X le ZXjk`ccf Zc}j`Zf# `dgfe\ek\# hl\ gifkX^fe`qX cXj gfjkXc\j [\ CX :Xe[\cXi`X% <c XZ\e$ kf [\ cX \jkXeZ`X \jk} gl\jkf \e \c gfcf# Zfe Zc e`ZXj [\ [ X Zfdgc\kf hl\ Xpl[Xe X [Xi cfj gi`d\ifj kX$ hl\fj gfi cX dX XeX# kfdXi lefj dXk\j Zfe cfj g\k`j\ifj p pX \e cX kXi[\# cc\mXi X cX gi}Zk`ZX cfj Zfe$ Z\gkfj Xgi\e[`[fj \e le gXik`[f [\ ZlXkif Z_lbb\ij% KXdY` e j\ gl\[\ \jkXi [\c fkif cX[f p j\i \jg\ZkX[fi

[\ Xc^ e gXik`[f# leX \dfZ` e ef d\efj `ek\ejX% <e \jk\ le`m\ijf \Zl\jki\ jliZX[f gfi \c [`j\ f gX`jXa jk`Zf [\c Z c\$ Yi\ :_Xic\j K_Xpj# ZXd`eXi \eki\ ZXjlXi`eXj# fdY \j# gcXkXefj# XiXlZXi`Xj# ef^Xc\j p fc`mfj \j le gcXe `dg\i[`Yc\% D`\ekiXj \c X`i\ cc\eX cfj glcdfe\j# \c cX^f p cXj \jZlckliXj \jgXiZ`[Xj jfYi\ ('' _\Zk}i\Xj [\ gXihl\ `em`kXe X cfj ZXiilXa\j X jldXij\ X cX ]fkf% CX \jkXeZ`X gifgfe\ [ Xj kXe XgX$ Z`Yc\j Zfdf X^`kX[fj1 cfj hl\ Ylj$ hl\e X[i\eXc`eX# gf[i}e i\Xc`qXi gXiXZX`[`jdf l fYj\imXi cX qfeX [\j[\ \c X`i\ \e le ml\cf \e Xm`f$ e\kX% Cfj hl\ cc\^l\e if^Xe[f gfi kiXehl`c`[X[# gf[i}e i\]l^`Xij\ \e cXj jl`k\j [\c ZXjk`ccf# XkXm`X[Xj Zfe dfY`c`Xi`f [\ gfZX2 f j\c\ZZ`feXi cX `ek`d`[X[ [\ cfj Yle^Xcfnj f cX _XY`kXZ` e d}j j`e^lcXi [\ CX :Xe$ [\cXi`X \e \c dfc`ef _fcXe[ j% ;fj ZXeZ_Xj [\ k\e`j# ZXeZ_Xj [\ ] kYfc p mfc\p# g`jZ`eX# jXc e [\ al\$ ^fj p [\ Zfem\eZ`fe\j# Y`Yc`fk\ZX# dXjXa\j [\jZfekiXZkliXek\j p kXi$ [\j [\ ]fcZcfi\ \e cX =`\jkX >XlZ_X jfe gXik\ [\ jlj k\ekXZ`fe\j% CX Zf$ d`[X \j \ohl`j`kX p cX \c\^XeZ`X# le [\kXcc\ hl\ XkiXgX alekf X cX d jk`ZX [\c Yfjhl\ XYiXqX[f Xc ZXjk`ccf%

F|] efk[ijW" bW deY^[ [d bW <_dYW" fWi[ei W YWXWbbe o [ifWY_e fWhW Y^_Yei1 Whh_XW [b YWiYe Z[ BW 9WdZ[bWh_W o iki Z[b_Y_Wi ]ekhc[j1 Wgk " [b h[bWn Z[b ifW Z[ IWd 9[\[h_de o iki dk[lWi ik_j[i

/,

Efm\[X[\j \e \c dle[f \dgi\jXi`f

DXjk\i:Xi[ I\gfikX J c`[f :i\Z`d`\ekf gXiX cX I\^` e [\ CXk`efXd i`ZX p \c :Xi`Y\ \e \c )''0 AVh igVchVXX^dcZh Xdc aVh iVg_ZiVh YZ aV bVgXV BVhiZg8VgY eVgV idYd Za V d '%%. aaZ\Vgdc V aV X^[gV YZ '#*%% b^aadcZh! \ZcZ" gVcYd jc kdajbZc Wgjid YZ [VXijgVX^ c Zc Y " aVgZh <9K YZ JH &,,#%%% b^aadcZh! ad XjVa gZegZhZciV jc VjbZcid YZa .#* Zc XdbeVgV" X^ c Xdc adh gZhjaiVYdh YZa '%%-# AV XVci^YVY YZ iVg_ZiVh YZ aVh bVgXVh BVhiZg8VgY n BVZhigd Zc aV gZ\^ c YZ AVi^cdVb g^XV n Za

=fi[ <Zfjgfik YXk` jl i\Zfi[ [\ m\ekXj \e \e\if )'(' ;dgY :XdHedgi gZ\^hig Zc ZcZgd YZ '%&% hj gZXdgY YZ kZciVh YZhYZ Za aVcoVb^Zcid Zc Za V d '%%(! gZhjaiVcYd Za bdYZad Xdc bVndg kdajbZc YZ eViZciVb^Zcidh YZ aV ^cYjhig^V Zc Za eg^bZg bZh YZa V d Zc Xjghd# AVh (#(.) jc^YVYZh eViZciVYVh Zc ZcZgd hdc jc ÒZa gZÓZ_d YZ VaiV kVadgVX^ c YZa bdYZad edg eVgiZ YZ adh Xdchjb^YdgZh Vg\Zci^cdh# :hiZ Zm^idhd bdYZad YZ ;dgY! Y^hZ VYd Zc aV gZ\^ c! fjZ gZkdajX^dc aV ^cYjhig^V Zc Za V d '%%( d[gZX^ZcYd V adh Xdchjb^YdgZh jc kZ] Xjad c^Xd Zc hj ZheZX^Z! Xdci^cjV Wg^cYVcYd V adh jhjVg^dh jcV ZmeZg^ZcX^V Y^[ZgZciZ fjZ XdbW^cV Zhi^ad! kZghVi^a^YVY n jc bVcZ_d Y^kZgi^Yd V jc egZX^d VXXZh^WaZ fjZ ad Xdck^ZgiZ Zc aV deX^ c egZ[Zg^YV edg \gVc eVgiZ YZ adh Xdchjb^YdgZh Zc 6g\Zci^cV#

8Vg^WZ hdWgZeVhVgdc adh '*% b^aadcZh#

<GJFE f]i\Z\ leX Xgc`ZXZ` e ^iXkl`kX [\ `dgi\j` e gXiX ljlXi`fj [\ @g_fe\ p @gf[ KflZ_ [\ 8ggc\ :ehdc 6bZg^XV >cX# VcjcX^ ]dn fjZ hj Vea^XVX^ c YZ ^begZh^ c eVgV ^E]dcZ n ^EdY IdjX]! \gVij^iV n [{X^a YZ jhVg! nV hZ ZcXjZcigV Y^hedc^WaZ Zc aV i^ZcYV YZ Vea^XVX^dcZh 6ee HidgZ YZ 6eeaZ# :hiZ hd[lVgZ eZgb^iZ fjZ adh jhjVg^dh ^b" eg^bVc YZ bVcZgV ^cVa{bWg^XV Zc aVh ^begZhd" gVh :ehdc Xdc XVeVX^YVY YZ gZY iVaZh Xdbd adh bdYZadh :ehdc Hinajh D[ÒXZ IM+%%;L! :ehdc Hinajh D[ÒXZ IM*&*;C! :ehdc Hinajh IM**%L n :ehdc Hinajh E]did IM,%%L# AV Vea^XVX^ c :ehdc ^Eg^ci Zh jc \gVc VkVcXZ eVgV ^beg^b^g XjVafj^Zg [did YZhYZ jc ^E]dcZ d ^EdY IdjX]#

/-

:clY D\[ gi\j\ekX AX[\ Clolip JgXZ\ \e jl M`ccX^\ [\ :XeZ e 8ajW BZY! aV XVYZcV YZ gZhdgih a YZg Zc Za bjcYd! egZhZciV ?VYZ Hj^iZh! Za cjZkd ZheVX^d YZ aj_d n ZmXajh^k^YVY YZ 8ajW BZY 8VcX c! Zc Za bVgXd YZ hj [jZgiZ ZhigViZ\^V bjcY^Va YZ edh^X^dcVb^Zcid! ]VX^V adh b{h Zm^\ZciZh Zhi{cYVgZh YZ XVa^YVY n hZgk^X^d#

Efm\[X[\j \e \c dle[f \dgi\jXi`f

D\iZ\[\j$9\eq Xld\ekX jlj m\ekXj dle[`Xc\j le )+ \e \e\if

@9D gi\j\ekX cXj ck`dXj jfclZ`fe\j [\ Xlkfj\im`Z`f gXiX YXeZX 8dc aV egZhZciVX^ c YZ aV CjZkV ;Vb^a^V YZ @^dhXdh ;>I .%%%! >7B 6g\Zci^cV ^cigdYjXZ Zc Za eV h aVh hdajX^dcZh YZ VjidhZgk^X^d eVgV WVcXV b{h bdYZgcVh n ZÒX^ZciZh YZa bZgXVYd# AVh iZgb^cVaZh YZ VjidhZgk^X^d Xd" bZgX^Va^oVYVh edg >7B XjZciVc Xdc jc cjZkd Y^hZ d YZ b Yjadh ZhXVaVWaZh! Y^hedh^i^kdh YZ VaiV iZXcdad\ V n hjbV hZgk^X^dh V bZY^YV! YZ bdc^idgZd! bVciZc^b^Zcid n VXijVa^oVX^ c iZXcda \^XV#

<c I:Q \j \c\^`[f Yfe`kf [\c X f )''0 :a G8O! eg^bZg bdYZad Æ[jZgV YZ hZg^ZÇ YZ EZj\Zdi! ]V h^Yd ZaZ\^Yd Za 6jid b{h Wdc^id YZa V d '%%. Zc Za egZhi^\^dhd bVgXd YZa '*d HVa c >ciZgcVX^dcVa YZa 6jidb k^a# :hiV Y^hi^cX^ c aZ [jZ didg\VYV Va i gb^cd YZ aV

votación de más de 100.000 internautas, procedentes de 62 países.

//

BZgXZYZh"7Zco egZhZci jc ^bedgiVciZ VjbZcid Zc hjh kZciVh Yj" gVciZ Za eg^bZg bZh YZa '%&%! ad\gVcYd aaZ\Vg V aVh +,#%%% jc^YVYZh XdbZgX^Va^oVYVh! ad fjZ hjedcZ jc XgZX^b^Zcid YZa ') gZheZXid Va b^hbd bZh YZ '%%.#

Hc`bM`\n f]i\Z\ cX gi`d\iX Xgc`ZXZ` e [\ Ylj`e\jj `ek\c`^\eZ\ gXiX [`jgfj`k`mfj d m`c\j Fa^`K^Zl 6g\Zci^cV VcjcX^ fjZ hj hd[ilVgZ ZhiVg{ Y^hedc^WaZ "V eVgi^g YZ ZhiZ bZh" eVgV 6cYgd^Y! Za h^hiZbV deZgVi^kd eVgV Y^hed" h^i^kdh b k^aZh n XdbejiVYdgVh WVhVYd Zc Za c XaZd A^cjm! YZhVggd" aaVYd edg <dd\aZ# :hiV cdkZYVY eZgb^i^g{ Va jhjVg^d ^ciZgVXijVg Xdc aV ^c[dgbVX^ c! dWiZc^ZcYd gZhejZhiVh g{e^YVh V hjh W hfjZYVh Zc XjVafj^Zg aj\Vg# AV Vea^XVX^ c ZhiVg{ Y^hedc^WaZ eVgV hZg YZhXVg\VYV Zc lll#VcYgd^Y#Xdb$bVg`Zi

ÈHl\ X e ef k\e\dfj cX ZXi^X [\ _fiXj [\c d\j6 :lXekXj _fiXj c\ ]XZkliXjk\ gfi \jX Z\i$ k`ÔZXZ` e6É¿ È: df hl\ k\ fcm`[Xjk\6666 É :h edh^WaZ fjZ jhiZY ]VnV eVgi^X^eVYd eZghdcVabZciZ Zc XdckZghVX^dcZh Xdbd ZhiV# :c jc YZheVX]d YdcYZ cjZhigd eg^cX^eVa ZaZbZcid YZ kZciV hdc aVh ]dgVh YZ cjZhigdh egd[Zh^dcVaZh ZbeaZVYdh! ZcidcXZh hZ kjZakZ jc ZaZbZcid Xg i^Xd V hZg Xdc" igdaVYd# :c <ZcZkV 8dchjai^c\ lll#\ZcZkV"\gdje# Xdb#Vg hdbdh XdchX^ZciZh YZ ZhiV cZXZh^YVY n ]Zbdh h^Yd jc edXd adh e^dcZgdh Zc aV ji^a^oVX^ c YZa hd[ilVgZ YZ <Zhi^ c YZ =dgVh YZ BZbdgn lll#bZbdgn\Zhi^dc#Xdb$lZW\] Xdc gZhjaiVYdh fjZ ]Vc ZmXZY^Yd cjZhigVh ZmeZXiVi^kVh b{h dei^b^hiVh# :h edg Zaad fjZ ]Zbdh XdbZcoVcYd hj Vea^XVX^ c \gVYjVabZciZ Zc idYVh aVh VgZVh YZ cjZhigd YZheVX]d! ]VhiV aaZ\Vg Za & YZ ZcZgd YZ '%&% V fjZ hZV jcV ]ZggVb^ZciV YZ jhd dWa^\Vidg^d eVgV idYd Za eZghdcVa# 6h^b^hbd! n Xdbd Y^gZXidg YZ cjZhigV gZY Zc 6bZg^XV AVi^cV n Za 8Vg^WZ! ]Z hda^X^iV" Yd V idYdh cjZhigdh b^ZbWgdh hj Vea^XVX^ c eVgV fjZ gZVabZciZ ejZYVc VegZX^Vg aV XVci^YVY YZ WZcZÒX^dh fjZ ejZYZc ad\gVg bZY^VciZ ZhiV Vea^XVX^ c fjZ cdh VnjYVg{ V ZÒX^Zci^oVg cjZhigVh eg{Xi^XVh#

Efm\[X[\j \e \c dle[f \dgi\jXi`f

9XeZf @K8è cXeqX G\ijfeeXc`k \e 8i^\ek`eX p jldX leX gifgl\jkX [\ mXcfi gXiX jlj Zc`\ek\j :c hj XdchiVciZ YZY^XVX^ c edg d[gZXZg V hjh Xa^ZciZh hdajX^dcZh Z[ZXi^kVh Zc Za bVcZ_d YZ hjh ZmeZXiVi^kVh ÒcVcX^ZgVh n igVchVXX^dcVaZh! 7VcXd >iV egZhZci Zc 6g\Zci^cV! EZghdccVa^i ! jc cjZkd XdcXZeid Zc ViZcX^ c eZghdcVa^oVYV# :hiZ egd\gVbV! YZa fjZ \doVc adh hZ\bZcidh YZ jhjVg^dh b{h hZaZXidh YZa 7VcXd Zc 7gVh^a! d[gZXZ eg^k^aZ\^dh V adh Xa^ZciZh V igVk h YZ jcV bVndg V\^a^YVY! XdbdY^YVY n eg^kVX^YVY eVgV gZVa^oVg idYd i^ed YZ deZgVX^dcZh ÒcVcX^ZgVh!

Qli`Z_ \e 8d\i`ZX CXk`eX1 ZXdY`fj \e cX XckX ^\i\eZ`X \e cX i\^` e :c a cZV Xdc hj [dXVa^oVX^ c ZhigVi \^XV dg^ZciV" YV V jc XgZX^b^Zcid n dedgijc^YVYZh h^c eVgVaZad Zc aV gZ\^ c! Ojg^X] 6bZg^XV aVi^cV Ä egdkZZYdgV a YZg YZ hZgk^X^dh ÒcVcX^Zgdh hdWgZ aV WVhZ YZa hZ\jgd Ä VcjcX^ ]dn bdk^b^Zcidh Zc aV VaiV \ZgZcX^V V c^kZa gZ\^dcVa Zc B m^Xd n aV 6g\Zci^" cV! V hVWZg/ ?dh DgaVcYd! 8:D <adWVa A^[Z eVgV 6bZg^XV aVi^cV0 :YjVgYd BVgZdk^X]! 8:D 6g\Zc" i^cV n :YjVgYd <ji^ZggZo =Zajh`n! 8:D Ojg^X] B m^Xd# AVh cjZkVh YZh^\cVX^dcZh hZ ]^X^Zgdc Z[ZXi^kVh YZ bVcZgV ^cbZY^ViV#

h^c ZheZgVh c^ YZbdgVh#

:fd\iZ`f <ok\i`fi Zfe GXkX^fe`X <$9Xeb <dgi\jXj

>\e\iXc Dfkfij 8i^\ek`eX gi\d`X X cfj d\afi\j ZfeZ\j`feXi`fj [\ )''0 :c adh eg m^bdh Y Vh! <B 6g\Zci^cV ^c^X^Vg{ aV ZcigZ\V YZ egZb^dh eVgV gZXdcdXZg V adh XdcXZ" h^dcVg^dh 8]ZkgdaZi fjZ Zc '%%. hZ YZhiVXVgdc Zc Y^kZghVh {gZVh iVaZh Xdbd kZciVh! edhikZciV! XVeVX^iVX^ c! ^chiVaVX^dcZh n hZgk^X^d Va Xa^ZciZ! ZcigZ digVh# :hiZ gZXdcdX^b^Zcid eZgb^iZ V adh \VaVgYdcVYdh [dgbVg eVgiZ YZa hZaZXid Æ8ajW YZa EgZh^YZciZÇ fjZ aZh d[gZXZ ^bedgiVciZh WZcZÒ" X^dh n eVgi^X^eVg YZ ^bedgiVciZh ZkZcidh# Adh XdcXZh^dcVg^dh \VaVgYdcVYdh hdc/ 6`Vg 6jidbdidgZh 8dbdYdgd G^kVYVk^V ! 8VehV IgZaZl ! 9VaXgdh 8dgdcZa HjVgZo ! <ZbhV Ij" Xjb{c ! <dco{aZo 6jidb k^aZh EdhVYVh ! @^VgV 6jidbdidgV AV EaViV ! AV\d 7V] V 7aVcXV ! EZ" hVYd 8Vhigd Bdidgh GdhVg^d GVbdcYV Bdidgh K^aaV BVg V n HV]^dgV CZjfj c #

0'

7VcXd EViV\dc^V ^cXdgedg jcV cjZkV [jcX^dcVa^YVY Zc hj XVcVa ZaZXig c^Xd EViV\dc^V :"7Vc` :begZhVh# 6]dgV adh Xa^ZciZh :begZhVh n EnB:h edYg{c XdchjaiVg n gZVa^oVg jc hZ\j^b^Zcid YZ hjh deZgVX^dcZh YZ XdbZgX^d ZmiZg^dg k^\ZciZh n VXXZYZg Va YZiVaaZ YZ aVh b^h" bVh ji^a^oVcYd aVh deX^dcZh ]VW^a^iVYVh#

J:8E@8 cXeq cX Zfdg\k\eZ`X dle[`Xc gXiX \eZfekiXi cfj d\afi\j Zfe[lZkfi\j [\ ZXd`fe\j [\c dle[f HXVc^V ^c^X^ ZhiV XdbeZiZcX^V Zc '%%(! Zc :jgdeV# 9ZhYZ ZcidcXZh! hZ ]V egdeV\VYd jcV XVbeV V bjcY^Va eVgV gZhVaiVg aV ^bedgiVcX^V YZ adh Xdcd" X^b^Zcidh n Za egd[Zh^dcVa^hbd YZ adh XdcYjXidgZh! Vh Xdbd Za YZhVggdaad eVgV VjbZciVg aV XdcX^ZcX^V YZ hZ\jg^YVY k^Va n Za bZY^d VbW^ZciZ#

;\cf`kk\ Adh ZkZcidh bjcY^VaZh hZ Zhi{c Xdck^gi^ZcYd Zc jc ejcid YZ VaiV gZaZkVcX^V Zc aV V\ZcYV YZ adh \dW^Zgcdh YZ idYd Za bjcYd edgfjZ aZh eZgb^iZc V jcV X^jYVY d eV h edYZg VXijVg Xdc gVe^YZo n YZiZg" b^cVX^ c Zc jcV Vbea^V \VbV YZ Vhjcidh n VXi^k^YVYZh fjZ cdgbVa" bZciZ ZhiVg Vc hjb^Ydh Zc aVg\dh YZWViZh n ig{b^iZh WjgdXg{i^Xdh#

<c 9XeZf :`l[X[ k\e$ [i} jl j\[\ ZffigfiXk`mX \e \c [`jki`kf k\Zefc ^`Zf gfik\ f :a b^c^higd YZ YZhVggdaad ZXdc " b^Xd edgiZ d! ;gVcX^hXd 8VWgZgV! eVgi^X^e YZa VXid YZ egZhZciVX^ c YZa ea^Z\d eVgV aV XdchigjXX^ c YZa cjZkd ZY^ÒX^d XdgedgVi^kd YZa WVcXd! fjZ iZcYg{ jcV hjeZgÒX^Z YZ (&#&%% bZigdh XjVYgVYdh n fjZ ZhiVg{ h^ijVYd Zc jc egZY^d jW^XV" Yd Zc aV XVaaZ JheVaaViV YZcigd YZa 9^hig^id IZXcda \^Xd# :a ZcXjZcigd [jZ ZcXVWZoVYd edg Za _Z[Z YZ <d" W^Zgcd edgiZ d! BVjg^X^d BVXg^#

Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.