6WDQOH\ $ (OOLVHQ &KDUOHV + '\HU
:HP JHK|UW GDV /DQG" 'LH ZLUNOLFKHQ 8UVDFKHQ GHV 1DKRVW .RQÀLNWV
&KULVWOLFKH /LWHUDWXU 9HUEUHLWXQJ 3RVWIDFK %LHOHIHOG
$XÀDJH ‹ GHU DPHULNDQLVFKHQ 2ULJLQDODXVJDEH E\ 6WDQOH\ $ (OOLVHQ 2ULJLQDOYHUODJ 7\QGDOH +RXVH 3XEOLVKHUV 2ULJLQDOWLWHO :KR 2ZQV WKH /DQG" ‹ E\ &/9 &KULVWOLFKH /LWHUDWXU 9HUEUHLWXQJ 3RVWIDFK ‡ %LHOHIHOG ,QWHUQHW ZZZ FOY GH hEHUVHW]XQJ 8OULNH :LOKHOP 8PVFKODJ 'LHWHU 2WWHQ *XPPHUVEDFK 6DW] &/9 'UXFN XQG %LQGXQJ **3 0HGLD 3|‰QHFN ,6%1
,QKDOWVYHU]HLFKQLV 9RUZRUW ]XU HUVWHQ $XÀDJH 9RUZRUW ]XU EHUDUEHLWHWHQ $XÀDJH 8PULVVH HLQHV .RQÀLNWV (LQ )DPLOLHQVWUHLW HQWÀDPPW HUQHXW 'LH -XGHQ LQ GHU ZHOWZHLWHQ =HUVWUHXXQJ 0LJUDWLRQ XQG 9HUWUHLEXQJ GHU -XGHQ 'HU =LRQLVPXV :HQQ 7UlXPH ]XP 'UDPD ZHUGHQ 'HU =ZHLWH :HOWNULHJ XQG GHU +RORFDXVW 'HU DQJHVFKODJHQH 5HVW XQG GHU QHX JHJU QGHWH 6WDDW ,VUDHO ,VUDHOV 9HUWHLGLJXQJ XQG ([SDQVLRQ 8QUXKHQ LP HLJHQHQ /DQG GLH ,QWLIDGD :HP JHK|UW GDV /DQG ZLUNOLFK" *|WWOLFKH %HXUWHLOXQJ XQG YHUKHL HQH :LHGHUKHUVWHOOXQJ $QKDQJ $ &KURQRORJLH $QKDQJ % ,QWHUQDWLRQDOH 'RNXPHQWH ]X GHQ /DQGDQVSU FKHQ LQ 3DOlVWLQD )X QRWHQ $XVJHZlKOWH /LWHUDWXU
9RUZRUW ]XU HUVWHQ $XÀDJH 'DV DPHULNDQLVFKH 6SULFKZRUW ª7UXWK LV VWUDQJHU WKDQ ¿FWLRQ© ª'LH :DKUKHLW LVW VHOWVDPHU DOV GDV (UGLFKWHWH VHLQ NDQQ© WULIIW DXI GLH *H VFKLFKWH ,VUDHOV HLQGHXWLJ ]X 'LH *HVFKLFKWH GHU -XGHQ OlVVW VLFK PLW HLQHP 'UDPD YHUJOHLFKHQ ± HLQHP JUR HQ 'UDPD PLW HLQHU J|WWOLFKHQ .RPSRQHQWH ,Q :LUNOLFKNHLW YHUVFKPHO]HQ KLHU ]ZHL JHJHQVlW]OLFKH 3URJUDPPH GDV PHQVFKOLFKH XQG GDV J|WWOLFKH %HLGH GXUFKGULQJHQ XQ VHUH JDQ]H *HVFKLFKWH XQG HV IHKOW QLFKW YLHO ELV GLHVHU .DVVHQVFKODJHU DOOHU =HLWHQ ]X HLQHP DXIUHJHQGHQ 'UDPD ZHUGHQ ZLUG (LQ JUR HU 7HLO GHU HUVWDXQOLFKHQ +DQGOXQJ GLHVHV 'UDPDV OLHJW QRFK LP 9HUERUJHQHQ XQG LVW YHUVFKOHLHUW .LUFKHQKLVWRULNHU KDEHQ GLH ZDQ GHUQGHQ -XGHQ JU| WHQWHLOV YHUVFKZLHJHQ RGHU VLH ]X )X QRWHQ GHJUD GLHUW 9LHO ]X ODQJH KLHOW GLH .LUFKH DQ LKUHP YRQ ,VDDN JHVWRKOHQHQ 6H JHQ IHVW GHVVHQ UHFKWPl LJH (UEHQ PDQ DXV GHP *HGlFKWQLV O|VFKWH %HKHU]WH -XGHQ KDEHQ GLHVHV 8UWHLO MHGRFK QLH DN]HSWLHUW XQG IRUGHUQ MHW]W HLQH 1HXIDVVXQJ GHU *HVFKLFKWH ,P 5 FNEOLFN HUNHQQHQ ZLU ZLH VHKU VLH GLH *HVFKLFKWH GHU |VWOLFKHQ XQG ZHVWOLFKHQ :HOW EHHLQÀXVVW KDEHQ PDQFKPDO VR VWDUN GDVV GDGXUFK ZHOWZHLWH (UHLJQLVVH HQWVFKLH GHQ ZXUGHQ 'HQ (UVWHQ :HOWNULHJ ]XP %HLVSLHO EH]HLFKQHWH PDQ DOV HLQHQ .ULHJ RKQH ORJLVFKH *UXQGODJH ± EHU FNVLFKWLJHQ ZLU DEHU GLH 5ROOH GHU -XGHQ GDQQ ZLUG XQV HLQLJHV NODU 'DV *OHLFKH JLOW I U GLH 5HQDLVVDQFH VRZLH GLH (QWGHFNXQJ $PHULNDV XQG DP GHXWOLFKVWHQ VLHKW PDQ HV DP =ZHLWHQ :HOWNULHJ *O FNOLFKHUZHLVH KDEHQ M GLVFKH +LVWRULNHU GXUFK GLH -DKUKXQGHUWH KLQGXUFK 0DVVHQ YRQ /LWHUDWXU EHU GLH VW UPLVFKH 5HLVH LKUHV 9RONHV EHZDKUW 'LHVH (U]lKOXQJHQ HQWKDOWHQ RIW VFKOLPPH (LQ]HOKHLWHQ $XFK ZHQQ GLHVH 'HWDLOV QRFK VR TXlOHQG XQG JUDXVDP VLQG VLQG VLH ZLFKWLJ XP *HVFKLFKWH ULFKWLJ YHUVWHKHQ ]X N|QQHQ 8P GLH H[SORVLYH /DJH LP 1DKHQ 2VWHQ KHXWH ULFKWLJ HLQVFKlW]HQ ]X N|QQHQ VLQG VLH VRJDU XQHQW EHKUOLFK 0HLQ ,QWHUHVVH DQ GLHVHP IDV]LQLHUHQGHQ 'UDPD ZXUGH GXUFK HLQH 5HLVH LQ GHQ 1DKHQ 2VWHQ JHZHFNW NXU] QDFKGHP GHU QHXH 6WDDW ,VUDHO JHJU QGHW ZRUGHQ ZDU ,FK UHLVWH PLW HLQHU *UXSSH GHV $PHUL NDQLVFKHQ &KULVWOLFKHQ 3DOlVWLQD $XVVFKXVVHV $OOH ZDUHQ JXW JHODXQW $OV ZLU DEHU EHLGH 6HLWHQ GHV 6WDFKHOGUDKW]DXQV EHVXFKWHQ DKQWH XQVH
:(0 *(+g57 '$6 /$1'"
UH *UXSSH VFKRQ GDVV HLQH .ULVH ]X HUZDUWHQ ZDU 6HLW GLHVHU =HLW KDW HV ELWWHUH .lPSIH LQ GLHVHP /DQG JHJHEHQ 9LHOH EH]HLFKQHWHQ GLHV DOV HLQHQ +HLOLJHQ .ULHJ GHU ]X HLQHP JHZDOWLJHQ 5DVVHQ XQG 5HOLJLRQV NDPSI ]X HQWDUWHQ GURKW +HXWH EHVWHKW GLH *HIDKU GDVV VLFK EHU GDV 3DOlVWLQD 3UREOHP QLFKW QXU $UDEHU XQG -XGHQ VWUHLWHQ VRQGHUQ OHW]W HQGOLFK GLH JDQ]H :HOW 0LW GLHVHP hEHUEOLFN P|FKWH LFK GLH *HVFKLFKWH YRP ELEOLVFKHQ FKULVWOLFKHQ 6WDQGSXQNW DXV EHOHXFKWHQ 2EZRKO PDQ VFKRQ YLHOH M GLVFKH XQG DUDELVFKH 0HLQXQJHQ JHK|UW KDW XQG FKULVWOLFKH 6FKUHLEHU UHLFKOLFK EHU GLHVHV 7KHPD XQG lKQOLFKH GDPLW ]XVDPPHQKlQJHQGH 7KHPHQ GLVNXWLHUW KDEHQ JODXEH LFK GDVV HLQ ELEOLVFKHU 6WDQGSXQNW DXV HLQHU NRQVHUYDWLYHQ 6LFKWZHLVH KHUDXV QRFK IHKOW ,Q GHQ IROJHQGHQ .DSLWHOQ ZHUGH LFK YHUVXFKHQ GLH ELEOLVFKH 'DUVWHO OXQJ PLW GHU JHIlKUOLFKHQ 5HLVH GHU -XGHQ GXUFK GLH .LUFKHQJHVFKLFKWH KLQGXUFK LQ %H]LHKXQJ ]X VHW]HQ XQG GLH UHOLJL|VHQ XQG VR]LDOHQ .UlIWH DXI]X]HLJHQ GLH ]XU KHXWLJHQ /DJH LQ 3DOlVWLQD I KUWHQ 9HUEXQGHQ PLW GLHVHU *HVFKLFKWH VLQG GDV :DFKVWXP XQG GLH 3KLORVRSKLH GHV ,VODP GHVVHQ (QWZLFNOXQJ LFK NXU] EHVFKUHLEHQ ZHUGH XP GHQ DUDELVFKHQ 6WDQGSXQNW DXI]X]HLJHQ 'DV %XFK ZLOO MHGRFK ZHGHU GLH HLQH QRFK GLH DQGHUH 6HLWH YHUWHLGLJHQ $XFK ZHQQ GLH *HVFKLFKWH I U GLH DOOJHPHLQH FKULVWOLFKH gIIHQWOLFK NHLW JHVFKULHEHQ ZXUGH KDEH LFK YLHOH $QPHUNXQJHQ PLW HLQEH]RJHQ XP YLHOH GHU XQJODXEOLFKHQ (UHLJQLVVH XQG $QVLFKWHQ GLH HUZl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lKUOLFKH 5HLVH GXUFK GLH .LUFKHQJHVFKLFKWH XQG DXI LKU 6FKLFNVDO ZLUIW 6WDQOH\ $ (OOLVHQ
9RUZRUW ]XU EHUDUEHLWHWHQ $XÀDJH ,Q YLHOHQ % FKHUQ ZXUGH VFKRQ YHUVXFKW GLH JHJHQZlUWLJH .ULVH LP 1DKHQ 2VWHQ ]X HUNOlUHQ $EHU QXU ZHQLJH HQWKLHOWHQ HLQH VROFK WLHIH :HLVKHLW XQG (UNHQQWQLV ZLH GDV %XFK YRQ 'U 6WDQOH\ (OOLVHQ $OV GDV %XFK QLFKW PHKU JHGUXFNW ZXUGH JLQJ GLHVH :HLVKHLW DOOHQ YHUORUHQ DX HU GHQ *O FNOLFKHQ GHQHQ HV LQ 6FKXOELEOLRWKHNHQ RGHU 6HFRQG KDQG %XFKOlGHQ LQ GLH +lQGH ¿HO 0HLQ EHVRQGHUHU 'DQN JLOW (YHO\Q (OOLVHQ -RKQ 9DQ 'LHVW XQG 7\Q GDOH +RXVH 3XEOLVKHUV I U LKUHQ :HLWEOLFN ZLH ZHUWYROO GLHVH $UEHLW I U HLQH QHXH *HQHUDWLRQ LVW ,FK I KOH PLFK VHKU JHHKUW GXUFK GLH 7DWVDFKH GDVV LFK DQ GHU hEHUDUEHLWXQJ GLHVHV :HUNV PLWDUEHLWHQ GXUIWH &KDUOHV + '\HU
.DSLWHO
8PULVVH HLQHV .RQÀLNWV 5DEEL +DUROG .XVKQHU HU]lKOW GLH *HVFKLFKWH HLQHV -XQJHQ GHU LQ GHU 6RQQWDJVVFKXOH GLH ELEOLVFKH *HVFKLFKWH EHU ,VUDHOV 'XUFK]XJ GXUFKV 5RWH 0HHU K|UWH $OV VHLQH 0XWWHU LKQ ]X +DXVH IUDJWH ZDV HU JHOHUQW KDEH DQWZRUWHWH HU ª'LH ,VUDHOLWHQ YHUOLH HQ bJ\SWHQ DEHU GHU 3KD UDR XQG VHLQH $UPHH YHUIROJWHQ VLH $OV VLH DP 5RWHQ 0HHU DQNDPHQ NRQQWHQ VLH HV QLFKW EHUTXHUHQ XQG GLH lJ\SWLVFKH $UPHH NDP LPPHU QlKHU $OVR QDKP 0RVH VHLQ +DQG\ GLH LVUDHOLVFKH /XIWZDIIH ERPEDU GLHUWH GLH bJ\SWHU XQG GLH LVUDHOLVFKH 0DULQH EDXWH HLQH 3RQWRQEU FNH GDPLW GDV 9RON EHU GDV 0HHU ZDQGHUQ NRQQWH © 'LH 0XWWHU ZDU JH VFKRFNW ª+DW PDQ HXFK GLH *HVFKLFKWH ZLUNOLFK VR HU]lKOW"© IUDJWH VLH ª1D MD HLJHQWOLFK QLFKW© JDE GHU -XQJH ]X ªDEHU ZHQQ LFK GLU HU]lKOW KlWWH ZDV GLH XQV HU]lKOW KDEHQ Z UGHVW GX HV QLFKW JODXEHQ © 'DV *OHLFKH N|QQWH PDQ YRQ ,VUDHOV JDQ]HU *HVFKLFKWH EHKDXSWHQ 6LH JUHQ]W RIW DQV 8QJODXEOLFKH $XFK GDV KHXWLJH ,VUDHO VFKHLQW DXI EHPHUNHQVZHUWH :HLVH (UEH GLHVHU XQJODXEOLFKHQ *HVFKLFKWHQ ]X VHLQ 'DV 8QJODXEOLFKH LVW IDVW DOOWlJOLFK JHZRUGHQ ± ZLUG DEHU JHZ|KQOLFK YRQ .RQÀLNWHQ EHJOHLWHW 1XU ZHQLJH 1DWLRQHQ VLQG LPPHU ZLHGHU LQ HLQHQ VROFKHQ 6WUXGHO JHUDWHQ 8P GDV 'LOHPPD XQG GLH 6WLPPXQJ GHV JHJHQZlUWLJHQ 'UDPDV YHUVWHKHQ ]X N|QQHQ P|FKWH LFK HLQLJH EHGHXWHQGH (UHLJQLVVH DXV GHU M QJVWHQ *HVFKLFKWH KHUYRUKHEHQ EHU GLH GLH JDQ]H :HOW GLH 6WLUQ UXQ ]HOWH XQG GLH VLH DXI GLHVHQ NOHLQHQ /DQGVWULFK DXIPHUNVDP PDFKWH /RQGRQ 1RYHPEHU ± ,Q GHU %DOIRXU (UNOlUXQJ EUDFKWH GLH EULWLVFKH 5HJLHUXQJ LKUH 6\PSDWKLH I U GLH ]LRQLVWLVFKH %HZHJXQJ ]XP $XVGUXFN 6LH YHUVSUDFK GDULQ GLH -XGHQ EHL GHU 6FKDIIXQJ HLQHU QDWLR QDOHQ +HLPVWlWWH LQ 3DOlVWLQD ]X XQWHUVW W]HQ 6HSWHPEHU ± 'LH %DOIRXU (UNOlUXQJ ZLUG 7HLO GHV EULWLVFKHQ 0DQGDWV XQG ZLUG YRP 9|ONHUEXQG UDWL¿]LHUW 2NWREHU ± $XI GHP DUDELVFKHQ :HOWNRQJUHVV LQ .DLUR ZLUG GDV 'RNXPHQW YRQ GHQ $UDEHUQ DEJHOHKQW 6LH EHJU QGHQ LKUH $EOHK QXQJ DXI HLQ IU KHUHV 9HUVSUHFKHQ GHU %ULWHQ JHJHQ EHU 6KHULI +XVVHLQ GDVV *UR EULWDQQLHQ GHQ $UDEHUQ KHOIHQ Z UGH LP 1DKHQ 2VWHQ XQDE
.$3,7(/ 805,66( (,1(6 .21)/,.76
KlQJLJH 6WDDWHQ ]X HUULFKWHQ 'D GLHVH 9HUVSUHFKHQ VHKU YDJH IRUPX OLHUW VLQG ODVVHQ VLFK LQ GHQ IROJHQGHQ -DKUHQ =XVDPPHQVW| H QLFKW YHUPHLGHQ /DNH 6XFFHVV 1HZ <RUN 1RYHPEHU ± 'LH 9ROOYHUVDPPOXQJ GHU 9HUHLQWHQ 1DWLRQHQ VWLPPW PLW HLQHU =ZHLGULWWHOPHKUKHLW GHU 7HL OXQJ 3DOlVWLQDV QDFK %HHQGLJXQJ GHV EULWLVFKHQ 0DQGDWV DP 0DL LQ HLQHQ M GLVFKHQ XQG DUDELVFKHQ 6WDDW ]X 'HU 7HLOXQJVSODQ HU P|JOLFKW HV VRZRKO GHQ -XGHQ DOV DXFK GHQ $UDEHUQ LQ GLHVHP *HELHW HLQHQ XQDEKlQJLJHQ 6WDDW ]X HUULFKWHQ 'LHVH (QWVFKHLGXQJ ZLUG ]ZDU VFKQHOO DEHU YRUVLFKWLJ YRQ GHQ -XGHQ DN]HSWLHUW YRQ GHQ $UDEHUQ MH GRFK UXQGZHJ DEJHOHKQW $UDELVFKH ) KUHU EHUHLWHQ VLFK VRIRUW GDUDXI YRU GDV JDQ]H /DQG LQ $QVSUXFK ]X QHKPHQ VREDOG GLH %ULWHQ DP 0DL GLH )DKQH HLQ]LHKHQ -HUXVDOHP -XQL ± -RUGDQLHQV (QWVFKHLGXQJ ]XVDPPHQ PLW bJ\SWHQ XQG 6\ULHQ ,VUDHO DQ]XJUHLIHQ VFKOlJW IHKO XQG GLH -XGHQ HUREHUQ ]XP HUVWHQ 0DO LQ GHU PRGHUQHQ *HVFKLFKWH GLH $OWVWDGW YRQ -HUXVDOHP 'HU KHIWLJH .DPSI XQG WHXHU EH]DKOWH 6LHJ OlVVW -XGHQ LQ GHU JDQ]HQ :HOW ZHLQHQ XQG MXEHOQ GD LKU XUDOWHU 7UDXP QDFK GHP 0RWWR ª1lFKVWHV -DKU LQ -HUXVDOHP© HUI OOW ZHUGHQ N|QQWH 'LH $UDEHU VLQG VFKRFNLHUW XQG YHUELWWHUW EHVRQGHUV -RUGDQLHQV .|QLJ +XVVHLQ 6HLQ *UR YDWHU $EGXOODK KDWWH GLH JDQ]H 6WDGW 0HNND VRZLH 0HGLQD DQ GLH VDXGLVFKH '\QDVWLH YHUORUHQ -HW]W LVW VHLQ 7UDXP + WHU GHU +HLOLJW PHU LQ -HUXVDOHP ]X ZHUGHQ HEHQIDOOV ]HUVW|UW 'LH 9HUHLQWHQ 1DWLRQHQ 1RYHPEHU ± (LQVWLPPLJ QLPPW GHU 6LFKHUKHLWVUDW GHU 9HUHLQWHQ 1DWLRQHQ GLH 5HVROXWLRQ DQ ,VUDHO ZLUG GDULQ DXIJHIRUGHUW VHLQH 6WUHLWNUlIWH DXV GHQ *HELHWHQ GLH LP 6HFKV WDJHNULHJ EHVHW]W ZXUGHQ ]XU FN]X]LHKHQ (V ZLUG DXFK ªGLH (LQVWHO OXQJ DOOHU %HKDXSWXQJHQ RGHU )RUPHQ HLQHV .ULHJV]XVWDQGHV VRZLH GLH %HDFKWXQJ XQG $QHUNHQQXQJ GHU 6RXYHUlQLWlW GHU WHUULWRULDOHQ 8QYHU VHKUWKHLW « HLQHV MHGHQ 6WDDWHV LQ GLHVHP *HELHW© JHIRUGHUW 'LHV ZLUG VSlWHU PLW GHU 5HVROXWLRQ EHVWlWLJW 2EZRKO YLHOH 'HOHJLHUWH GLHV DOV HLQHQ ZHLWHUHQ 6FKULWW LQ 5LFKWXQJ )ULHGHQ LQ GLHVHP *HELHW VHKHQ ZLUG GDV 9HUVSUHFKHQ YRQ GHU DP 6HSWHPEHU DEJHJHEHQHQ DUDELVFKHQ (U NOlUXQJ YRQ .KDUWRXP EHUVFKDWWHW LQ GHU HV KHL W ª.HLQ )ULHGHQ PLW ,VUDHO .HLQH 9HUKDQGOXQJHQ PLW ,VUDHO .HLQH $QHUNHQQXQJ ,VUDHOV © 'HU lJ\SWLVFKH 3UlVLGHQW 1DVVHU HUNOlUW GDVV VHLQ .DPSI 3DOlVWLQD YRQ GHQ -XGHQ ]X EHIUHLHQ HLQ NRPSURPLVVORVHU .DPSI LVW
:(0 *(+g57 '$6 /$1'"
*D]DVWUHLIHQ 'H]HPEHU ± (LQ LVUDHOLVFKHU *HVFKlIWVPDQQ ZLUG LQ *D]D 6WDGW HUVWRFKHQ =ZHL 7DJH VSlWHU ZHUGHQ YLHU 3DOlVWLQHQ VHU EHL HLQHP $XWRXQIDOO JHW|WHW *HU FKWH EUHLWHQ VLFK DXV GDVV LKU 7RG GLH 5DFKH I U GHQ YRUKHU EHJDQJHQHQ 0RUG VHL $XIVWlQGH EUHFKHQ DXV XQG HLQ 7HHQDJHU VWLUEW EHL HLQHP 6FKXVVZHFKVHO DOV HU 0RORWRZFRFN WDLOV DXI 6LFKHUKHLWVNUlIWH ZLUIW 'LH XQWHUOHJHQHQ 3DOlVWLQHQVHU OHQNHQ HUIROJUHLFK GLH 6\PSDWKLH GHU :HOW DXI VLFK GLH ODQJH =HLW GHQ M GL VFKHQ 2SIHUQ GHV +RORFDXVW JDOW 2VOR 1RUZHJHQ 6HSWHPEHU ± 1DFK HLQLJHQ JHKHLPHQ 9HU KDQGOXQJHQ ]ZLVFKHQ ,VUDHO XQG GHQ 3DOlVWLQHQVHUQ VHQGHW -DVVLU $UDIDW HLQHQ %ULHI DQ GHQ LVUDHOLVFKHQ 3UHPLHUPLQLVWHU <LW]KDN 5DELQ LQ GHP ,VUDHOV ([LVWHQ]UHFKW DOV 1DWLRQ DQHUNDQQW ZLUG DOOH 5HVROXWLRQHQ GHV 6LFKHUKHLWVUDWHV GHU 9HUHLQWHQ 1DWLRQHQ DN]HSWLHUW ZHUGHQ DXI 7HUUR ULVPXV YHU]LFKWHW XQG HLQH IULHGOLFKH /|VXQJ GHV .RQÀLNWV EHI UZRUWHW ZLUG $OV 5HDNWLRQ GDUDXI DN]HSWLHUW ,VUDHO GLH 3/2 3DOlVWLQHQVLVFKH %HIUHLXQJVRUJDQLVDWLRQ DOV 9HUWUHWXQJ GHU 3DOlVWLQHQVHU EHL DOOHQ ZHL WHUHQ 9HUKDQGOXQJHQ &DPS 'DYLG 0DU\ODQG 86$ -XOL ± (LQ I QI]HKQWlJLJHV *LSIHOWUHIIHQ ]ZLVFKHQ -DVVLU $UDIDW GHP LVUDHOLVFKHQ 3UHPLHUPLQLV WHU (KXG %DUDN XQG GHP 86 DPHULNDQLVFKHQ 3UlVLGHQWHQ %LOO &OLQWRQ VFKHLWHUW 'LH IDVW JUHLIEDUH IULHGOLFKH %HLOHJXQJ GHU DUDELVFK LVUDHOL VFKHQ .ULVH O|VW VLFK LQ /XIW DXI QDFKGHP PDQ VLFK JHJHQVHLWLJ GHU 8QQDFKJLHELJNHLW EHVFKXOGLJW XQG YHUGHFNW PLW *HZDOW GURKW -HUXVDOHP 6HSWHPEHU ± 'HU VFKZHOHQGH .RQÀLNW ]ZLVFKHQ ,VUDHO XQG GHQ 3DOlVWLQHQVHUQ ZLUG HUQHXW HQWIDFKW DOV $ULHO 6FKDURQ GHQ 7HPSHOEHUJ EHVXFKW 'LH 3DOlVWLQHQVHU KDWWHQ EHU JDQ] 2VW -HUXVDOHP HLQVFKOLH OLFK +DUDP DO 6KDULI GHP 7HPSHOEHUJ GLH 6RXYHUlQLWlW JH IRUGHUW 6LH EHWUDFKWHQ $ULHO 6FKDURQV 6SD]LHUJDQJ DOV ,VUDHOV $QWZRUW XQG UHDJLHUHQ PLW JHZDOWWlWLJHQ 'HPRQVWUDWLRQHQ 'LH $O $TVD ,QWLID GD EHJLQQW 'LHVH (UHLJQLVVH VSLHJHOQ QXU HLQLJH .RQÀLNWH XQG .RQWURYHUVHQ ZL GHU GLH KHXWH LQ ,VUDHO DQ GHU 7DJHVRUGQXQJ VLQG 9LHOHV GDYRQ KDW VHLQH :XU]HOQ LQ GHQ KLVWRULVFKHQ %H]LHKXQJHQ ,VUDHOV PLW GHU DQWLNHQ :HOW GHU .LUFKH XQG GHQ $UDEHUQ ,Q GHQ IROJHQGHQ .DSLWHOQ ZHUGHQ ZLU HL QLJH GUDPDWLVFKH (UHLJQLVVH LQ ,VUDHOV TXDOYROOHU *HVFKLFKWH EHWUDFKWHQ GDPLW MHQH GLH VLFK QDFK )ULHGHQ LP XQUXKLJHQ 1DKHQ 2VWHQ VHKQHQ ]X HLQHP EHVVHUHQ 9HUVWlQGQLV JHODQJHQ XQG +RIIQXQJ JHZLQQHQ
.DSLWHO
(LQ )DPLOLHQVWUHLW HQWÀDPPW HUQHXW 8QVHUH *HQHUDWLRQ HUOHEW HLQH )DPLOLHQIHKGH YRQ DX HUJHZ|KQOLFKHP $XVPD +HXWH PDFKW GLHVHU 6WUHLW ]ZLVFKHQ -XGHQ XQG $UDEHUQ UXQG XP GLH :HOW 6FKODJ]HLOHQ -HUXVDOHP ± RIW DXFK ª+HLOLJH 6WDGW© XQG ª6WDGW GHV )ULHGHQV© JHQDQQW ±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| WH 6WUHLWSXQNW JHZHVHQ %HLGH 6HLWHQ VFKHLQHQ EHUHFKWLJWH *U QGH YRU]XEULQJHQ ZHQQ VLH VLFK DXI GLHVHV 9HUVSUHFKHQ EHUXIHQ XQG GDV /DQG DXIJUXQG LKUHV ODQJMlKULJHQ :RKQVLW]HV EHDQVSUXFKHQ 0LW lKQ OLFK VWDUNHU 8QQDFKJLHELJNHLW XQG (QWVFKORVVHQKHLW HUKHEHQ EHLGH 6HL WHQ $QVSUXFK DXI GDV /DQG ZREHL VLH VLFK DXI LKUH J|WWOLFKHQ XQG LKUH QDW UOLFKHQ 5HFKWH EHUXIHQ :HP JHK|UW GLHVHU NOHLQH /DQGVWULFK ZLUNOLFK" 'LH 0HLQXQJHQ JH KHQ ZHLW DXVHLQDQGHU XQG GLH 6WUHLWVFKOLFKWHU HU]LHOHQ NHLQH (LQLJXQJ (YDQJHOLNDOH &KULVWHQ IUDJHQ VLFK RE HLQ J|WWOLFKHV (UHLJQLV NRVPL VFKHQ $XVPD HV YRU GHU 7 U VWHKW 8QVHUH 6FKODJ]HLOHQ HUZlKQHQ 9|O NHU XUDOWHU +HUNXQIW ± -XGHQ $UDEHU bJ\SWHU 6\UHU /LEDQHVHQ XQG MHW]W GLH ,UDNHU ,P 1RUGHQ XQG :HVWHQ ODXHUQ 5LHVHQ PLW 'URKJHElUGHQ « XQKHLPOLFKH 'LQJH YRQ GHQHQ DXFK GLH 3URSKHWLHQ EHU GLH (QG]HLW EHULFKWHQ ) JW PDQ QXQ QRFK HLQ ZHL HV 3IHUG KLQ]X HUVFKHLQW +DUPD JHGRQ SO|W]OLFK JUHLIEDU QDKH 'DV =LHO GLHVHV %XFKHV LVW QLFKW HLQH /|VXQJ I U GLH KHLNOHQ SROLWL VFKHQ $QJHOHJHQKHLWHQ ]X ¿QGHQ VRQGHUQ XQV &KULVWHQ ]X ]HLJHQ ZLH ZLU DXI GLHVHV 'LOHPPD UHDJLHUHQ VROOHQ 6ROOHQ ZLU XQV DXI GLH 6HLWH ,VUDHOV VFKODJHQ XQG GDPLW JHJHQ GLHMHQLJHQ VHLQ GLH VLFK VFKHLQEDU JHJHQ GLH ª(UI OOXQJ GHU 3URSKHWLH© VWHOOHQ" 2GHU VROOHQ ZLU PLW GHQ
:(0 *(+g57 '$6 /$1'"
YHUGUlQJWHQ 3DOlVWLQHQVHUQ XQG LKUHQ DUDELVFKHQ 9HUZDQGWHQ GLH VLFK LKUHP $QOLHJHQ DQJHVFKORVVHQ KDEHQ V\PSDWKLVLHUHQ" 6ROOHQ ZLU DOV &KULVWHQ DXI GHU 6HLWH GHU ,VUDHOLWHQ VHLQ GLH -HVXV DOV 0HVVLDV RIIHQ DEOHKQHQ RGHU VROOHQ ZLU XQV ]X GHQ $UDEHUQ KDOWHQ GLH LKQ ]ZDU DOV 3URSKHWHQ DFKWHQ DEHU LQ GHU 5DQJRUGQXQJ XQWHU 0RKDPPHG HLQRUG QHQ" 2GHU VROOHQ ZLU XQV HLQIDFK QHXWUDO LP +LQWHUJUXQG KDOWHQ" 'DV VLQG ]XJHJHEHQHUPD HQ VFKZLHULJH )UDJHQ 8P DQJHPHVVHQ GDUDXI DQWZRUWHQ ]X N|QQHQ P VVHQ ZLU HUVW GLH +DXSWXUVDFKHQ NHQQHQ GLH GLHVHQ 6WUHLW HQWIDFKW KDEHQ =XHUVW P VVHQ ZLU PLW HLQHP NXU]HQ hEHUEOLFN EHU GLH M GLVFKH *H VFKLFKWH YRP $OWHUWXP ELV ]XU *HJHQZDUW EHJLQQHQ 1XU ZHQLJH 0HQ VFKHQ EH]ZHLIHOQ GHQ JHZDOWLJHQ (LQÀXVV GLHVHV 9RONHV DXI XQVHUH *H VHOOVFKDIW 2EZRKO GLH %HY|ONHUXQJ ,VUDHOV QXU HLQHQ NOHLQHQ 3UR]HQW VDW] GHU :HOWEHY|ONHUXQJ DXVPDFKW 3UR]HQW LVW LKU (LQÀXVV XQG LKU %HLWUDJ LQ GHQ %HUHLFKHQ :LVVHQVFKDIW 0HGL]LQ %LOGXQJ 5HOLJLRQ 3KLORVRSKLH :LUWVFKDIW 3ROLWLN 0HGLHQ XQG .RPPXQLNDWLRQVWHFKQLN EHPHUNHQVZHUW (UZlKQW ZHUGHQ N|QQHQ KLHU ]XP %HLVSLHO GHU 3K\VLNHU $OEHUW (LQ VWHLQ %DUXFK 6SLQR]D GHU 3KLORVRSK 5RWKVFKLOG GHU )DPLOLHQEDQNLHU &KDLP :HL]PDQQ GHU &KHPLNHU GHV (UVWHQ :HOWNULHJHV .DUO 0DU[ GHU 3KLORVRSK XQG (U¿QGHU GHV GLDOHNWLVFKHQ 0DWHULDOLVPXV $UWKXU 5X ELQVWHLQ XQG 9ODGLPLU +RURZLW] GLH JUR HQ 3LDQLVWHQ /RXLV 0DUVKDOO GHU -XULVW I U 9HUIDVVXQJVIUDJHQ GLH 0DU[ %URWKHUV .RPLNHU %HUQDUG %DUXFK GHU )LQDQ]IDFKPDQQ XQG (U¿QGHU GHV ª1HZ 'HDO©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ÀXVV 9LHO ]X RIW KDW GLH .LUFKH VLH ]X JUDXVDP EHKDQGHOW 9RQ GHU =HU VW|UXQJ -HUXVDOHPV LP HUVWHQ -DKUKXQGHUW ELV KHXWH ZDUHQ GLH -XGHQ HLQ 9RON RKQH +HLPDWODQG XQG OHEWHQ KlX¿J SUDNWLVFK LVROLHUW LQ HLQHP KHLGQLVFKHQ 'VFKXQJHO ,KU :LHGHUDXÀHEHQ LVW HLQH *HVFKLFKWH YROOHU :XQGHU
.$3,7(/ (,1 )$0,/,(1675(,7 (17)/$007 (51(87
'LHVHV %XFK OLHIHUW HLQHQ NQDSSHQ hEHUEOLFN EHU GLH M GLVFKH *H VFKLFKWH YRQ ELEOLVFKHU =HLW DQ XQG KHEW EHVRQGHUV GLH (UHLJQLVVH KHU YRU GLH ]XP )DOO -HUXVDOHPV I KUWHQ XQG ZLH ,VUDHO ZLHGHU HLQ 6WDDW ZXUGH :LU ZHUIHQ DXFK HLQHQ %OLFN DXI GLH $UDEHU EHVRQGHUV DXI GLH 5ROOH GHU KHXWLJHQ 3DOlVWLQHQVHU
'LH J|WWOLFKHQ % QGH GLH GDV /DQG EHWUHIIHQ =ZHL DOWWHVWDPHQWOLFKH % QGH EH]LHKHQ VLFK EHVRQGHUV DXI ,VUDHOV JRWW JHJHEHQHV 5HFKW DXI GDV /DQG .DQDDQ 'HU HUVWH %XQG PLW $EUDKDP ZLUG LQ 0RVH EHVFKULHEHQ 'HU ]ZHLWH %XQG GHU VRJ SDOlVWLQLVFKH %XQG ZXUGH XQJHIlKU VHFKVKXQGHUW -DKUH VSlWHU PLW 0RVH JHVFKORVVHQ 0RVH 'HU %XQG PLW $EUDKDP $OV *RWW PLW $EUDP GHQ *RWW VSlWHU ª$EUDKDP© QDQQWH VHLQHQ %XQG VFKORVV YHUVSUDFK HU GHP 3DWULDUFKHQ GDVV HU VHLQHQ 1DFKNRPPHQ GDV /DQG ]XP HZLJHQ %HVLW] JHEHQ Z UGH 0RVH $XI $EUDPV %LWWH ,VPDHO ]XP (UEHQ GHV %XQGHV ]X PDFKHQ HUNOlUWH GHU +HUU GDVV PDQ EHU VHLQH 9HUVSUHFKHQ QLFKW YHUKDQGHOQ N|QQH (U VDJ WH GDVV ,VPDHO JUR HU 6HJHQ ]XWHLO ZHUGHQ Z UGH GRFK GLH 9HUKHL XQ JHQ VHLQHV %XQGHV Z UGHQ GXUFK ,VDDN JHVFKHKHQ 0RVH 6SlWHU VSUDFK GHU +HUU PLW ,VDDN XQG -DNRE XP GLHVHQ %XQG PLW $EUD KDP ]X EHVWlWLJHQ 0RVH 'LH VSlWHUHQ 3URSKHWHQ EHULHIHQ VLFK DXI GLHVHQ %XQG XQG UHFKWIHU WLJWHQ GDPLW LKUHQ $QVSUXFK DXI GDV /DQG DOV VLH HV EHWUDWHQ XP HV HLQ]XQHKPHQ 0RVH &KURQLN 1HKHPLD +HVH NLHO 2EZRKO $EUDKDP QXU LP /DQG ªYHUZHLOWH© ZXUGH VHLQHQ 1DFKNRPPHQ GDV /DQG DOV HZLJHV (UEH YHUVSURFKHQ 'HU SDOlVWLQLVFKH %XQG PLW ,VUDHO 'HU SDOlVWLQLVFKH %XQG ZXUGH 0RVH IDVW VHFKVKXQGHUW -DKUH VSlWHU JH JHEHQ NXU] EHYRU ,VUDHO GHQ -RUGDQ EHUTXHUWH XQG LQ GDV /DQG .DQDDQ HLQ]RJ 0LW GLHVHP %XQG EHVWlWLJWH GHU +HUU VHLQ IU KHUHV 9HUVSUHFKHQ DQ $EUDKDP XQG RIIHQEDUWH GDULQ GLH 5HJHOQ XQWHU GHQHQ VHLQ 9RON GDV /DQG LQ %HVLW] QHKPHQ VROOWH (U EHWRQWH GDVV GDV /DQG LKP JHK|UH (V ZDU GDV DXVHUZlKOWH /DQG VHLQHV %XQGHV GDV HU VHLQHP %XQGHVYRON JHEHQ ZROO
:(0 *(+g57 '$6 /$1'"
WH *HJU QGHW LP %XQG PLW $EUDKDP ZDU DXFK GLHVHV 9HUVSUHFKHQ QLFKW DQ HLQH %HGLQJXQJ JHNQ SIW (V JDUDQWLHUWH GDVV GDV /DQG OHW]WHQGOLFK I U DOOH =HLWHQ GHP 9RON ,VUDHO JHK|UHQ Z UGH 0RVH 3VDOP 'LH 9RUWHLOH GHV %XQGHV ZDUHQ MHGRFK DQ %HGLQJXQJHQ JH NQ SIW QlPOLFK DQ GHQ *HKRUVDP GHU -XGHQ XQG GLH $XV EXQJ DOOHU 2UG QXQJHQ XQG *HERWH 0RVH 6ROOWH ,VUDHO LP 8QJHKRUVDP YHUKDUUHQ GDQQ Z UGH GHU +HUU VLH ªDXV LKUHP /DQG LP =RUQ XQG LP *ULPP XQG LQ JUR HP 8QZLOOHQ© KHUDXVUHL HQ 0RVH $OV %XQGHVYRON GHV +HUUQ NRQQWHQ GLH -XGHQ GDV YHUKHL HQH /DQG QXU HLQQHKPHQ ZHQQ VLH GDV *HVHW] GHV %XQGHV EHDFKWHWHQ 'DV /DQG VHOEVW JHK|UWH GHP +HUUQ GHVVHQ 1DPH -DKZH ZDU <+:+ RGHU ª+HUU GHV %XQGHV© 2EZRKO GLHVHU SDOlVWLQLVFKH %XQG DQ 'LV]LSOLQ JHEXQGHQ ZDU XQG GLH =HUVWUHXXQJ GHV 9RONHV EHL 8QJHKRUVDP DQGURKWH YHUVSUDFK HU DXFK :LHGHUKHUVWHOOXQJ ZHQQ GLH 1DWLRQ ]XP +HUUQ XPNHKUHQ Z UGH :HQQ ªGX XPNHKUVW ]XP +HUUQ GHLQHP *RWW XQG VHLQHU 6WLPPH JHKRUFKVW « GDQQ ZLUG GHU +HUU GHLQ *RWW « GLFK ZLHGHU VDPPHOQ DXV DOO GHQ 9|O NHUQ ZRKLQ GHU +HUU GHLQ *RWW GLFK ]HUVWUHXW KDW© 0RVH 'D HU GLH 6FKZlFKH VHLQHV 9RONHV I U GDV %|VH NDQQWH XQG ZXVVWH GDVV VLH LQ GHQ IROJHQGHQ -DKUKXQGHUWHQ YHUVDJHQ Z UGHQ YHUVLFKHUWH GHU +HUU LKQHQ LKUH 5 FNNHKU XQG :LHGHUKHUVWHOOXQJ DXFK QDFKGHP VLH ELV DQ GDV ª(QGH GHV +LPPHOV© YHUVWR HQ ZRUGHQ ZlUHQ 0RVH 'LHVH OHW]WHQ :RUWH 0RVHV DQ GDV MXQJH 9RON ,VUDHO ZDUHQ VRZRKO HLQH J|WWOLFKH :DUQXQJ DOV DXFK HLQH (UPXWLJXQJ HLQH :DUQXQJ GDVV 8QJODXEH XQG 5HEHOOLRQ GDV 8UWHLO GHV +HUUQ GXUFK GLH ZHOWZHLWH =HU VWUHXXQJ ]XU )ROJH KlWWH DEHU DXFK HLQ 9HUVSUHFKHQ GDVV HU GDV /DQG I U DOOH =HLWHQ ZLHGHUKHUVWHOOHQ ZHUGH ZHQQ VLH YRQ JDQ]HP +HU]HQ XPNHKUHQ XQG EHUHXHQ Z UGHQ 'HU %XQG $EUDKDPV XQG GHU SDOlVWL QLVFKH %XQG ZDUHQ VRPLW ,VUDHOV J|WWOLFKH *DUDQWLH DXI GDV /DQG XQG ELOGHWHQ VSlWHU GLH *UXQGODJH I U GLH )RUGHUXQJHQ GHU -XGHQ
,VUDHO ZLUG YRQ *RWW GHV /DQGHV YHUZLHVHQ $XIJUXQG GLHVHU NODUHQ J|WWOLFKHQ 9HUKHL XQJHQ 0RVH N|QQWH PDQ PHLQHQ GDVV GLHVHV DXVHUZlKOWH 9RON GDGXUFK UHLIHQ Z UGH GDVV GHU +HUU GLH :HOW GXUFK LKU KHLOLJHV XQG JHUHFKWHV /HEHQ XQWHU VHL QHU ) KUXQJ VHJQHQ ZROOWH 6LFKHUOLFK KlWWHQ VLH GXUFK GLH = FKWLJXQ JHQ GHV +HUUQ LKUH E|VHQ 1HLJXQJHQ EHUZLQGHQ XQG LQ +HUUOLFKNHLW
.$3,7(/ (,1 )$0,/,(1675(,7 (17)/$007 (51(87
GDU EHU WULXPSKLHUHQ N|QQHQ 1LFKWV VFKLHQ *RWWHV =LHOH PLW GLHVHP %XQG ]X YHUHLWHOQ :DUHQ VLH GHQQ QLFKW *RWWHV DXVHUZlKOWHV 9RON" 6LH ZDUHQ VHLQ DXVHUZlKOWHV 9RON KDEHQ DEHU QLH YROOVWlQGLJ VHLQHQ YHUKHL HQHQ 6HJHQ HUIDKUHQ N|QQHQ $Q GLHVHV JUR DUWLJH =LHO VLQG VLH QLH JHNRPPHQ ± GDV ZLVVHQ ZLU VHKU ZRKO *HQDX GDV *HJHQWHLO SDVVLHUWH XQG DOOH LKUH 7UlXPH ZDUHQ ]X $VFKH JHZRUGHQ DOV GDV $OWH 7HVWDPHQW ]X (QGH JHVFKULHEHQ ZDU XQG DXI VHLQHQ OHW]WHQ 6HLWHQ NDXP QRFK HLQ 6HJHQ VWDQG 'LH .|QLJUHLFKH LP 1RUGHQ XQG 6 GHQ ZDUHQ VR NRUUXSW JHZRUGHQ GDVV HV NDXP QRFK *HUHFKWLJNHLW JDE )ROJOLFK HUI OOWH GHU +HUU VHLQ 9HUVSUHFKHQ VHLQ 9RON ]X ULFKWHQ XQG DXV GHP /DQG ]X YHUWUHLEHQ 8P ,VUDHO DXV GHP /DQG ]X YHUWUHLEHQ EHQXW]WH GHU +HUU ± DOV 6WUDIH I U GHQ ZLGHUOLFKHQ *|W]HQGLHQVW ± ]ZHL GHU E|VDUWLJVWHQ 9|ONHU GHU IU KHQ *HVFKLFKWH 'LH EUXWDOHQ $VV\UHU ZDUHQ GLH 9ROOVWUHFNHU GLH GDV Q|UGOLFKH .|QLJUHLFK ,VUDHO LP -DKUH Y &KU ]HUVW|UWHQ XQG GLH ZLO GHQ %DE\ORQLHU O|VFKWHQ GDV V GOLFKH .|QLJUHLFK -XGD LP -DKUH Y &KU DXV %HL GLHVHU =HUVW|UXQJ GHV 6 GHQV OLH GHU +HUU GXUFK 1HEX NDGQH]DU VRZRKO -HUXVDOHP DOV DXFK GHQ YRQ 6DORPR JHEDXWHQ KHLOLJHQ 7HPSHO ]HUVW|UHQ -HUHPLD 6R EHJDQQ GLH =HLW GHU =HUVWUHXXQJ ,VUDHOV XQWHU GLH 1DWLRQHQ DXFK RIW ª=HLWHQ GHU 1DWLRQHQ© JHQDQQW /XNDV 'DV FKDUDNWHULVWLVFKH 0HUNPDO GLHVHU =HLW LVW ,VUDHOV 8QWHUZHUIXQJ XQWHU GLH KHLGQLVFKHQ 1D WLRQHQ $QVWDWW GXUFK ,VUDHO EHU GLH :HOW ]X KHUUVFKHQ ZLH HU HV YRU JHVFKODJHQ KDWWH 0RVH KHUUVFKWH *RWW EHU ,VUDHO GXUFK GLH 1DWLRQHQ 'LHVH =HLW EHJDQQ XQWHU 1HEXNDGQH]DU Y &KU XQG GDXHUWH YLHU :HOWUHLFKH ODQJ DQ %DE\ORQLHQ 3HUVLHQ *ULHFKHQODQG XQG 5RP 6LH GDXHUWH VRJDU QRFK ELV LQ GLH =HLW GHU DXIJHEO KWHQ U|PLVFKHQ +HUUVFKDIW DQ ± ELV GHU 0HVVLDV NDP XP VHLQ HZLJHV .|QLJUHLFK DXI ]XULFKWHQ 'DQLHO 2EZRKO ,VUDHO DXVHUZlKOW ZDU GHU ª.RSI© ]X VHLQ ZXUGH HV ]XP ª6FKZDQ]© ZHLO HV GLH ) KUXQJ GHV +HUUQ YHU VFKPlKW KDWWH 0RVH 6R YHUORU GLH 1DWLRQ VHLQH QDWLRQDOH 8QDEKlQJLJNHLW XQG GLH -XGHQ ZXUGHQ XQWHU GLH 1DWLRQHQ ]HUVWUHXW
*RWWHV =LHO PLW ,VUDHOV =HUVWUHXXQJ :LH NRQQWHQ GLH =LHOH GHV +HUUQ PLW GLHVHP 6LHJ GHU +HLGHQ EHU *RWWHV %XQGHVYRON EHUKDXSW YHUZLUNOLFKW ZHUGHQ" :DUXP Z UGH *RWW KHLG
:(0 *(+g57 '$6 /$1'"
QLVFKHQ +RUGHQ JHVWDWWHQ GDV DXVHUZlKOWH /DQG ]X HUREHUQ XQG VHL QHQ JUR DUWLJHQ 3ODQ GXUFK GHQ 6DPHQ $EUDKDPV GLH :HOW ]X VHJQHQ VFKHLQEDU ]XQLFKWH ]X PDFKHQ" :LH VROOHQ ZLU GLHVHV RIIHQVLFKWOLFKH 6FKHLWHUQ GHV J|WWOLFKHQ 3ODQV GHXWHQ" :DUHQ GLH :HOWUHLFKH LP :HJ RGHU GXUFKNUHX]WHQ VLH GLH JXW ]XUHFKWJHOHJWHQ 3OlQH GHV +HUUQ" 1DW UOLFK LVW GLH $QWZRUW GDVV GLHVH KHLGQLVFKHQ 1DWLRQHQ XQDEVLFKW OLFK QLFKW LKUHQ VRQGHUQ HLQHV DQGHUHQ 3ODQ HUI OOWHQ 8QZLVVHQWOLFK VSLHOWHQ VLH HLQH ZLFKWLJH 5ROOH LQ *RWWHV 3ODQ PLW ,VUDHO LQGHP VLH GLH *RWWORVHQ YRP JOlXELJHQ hEHUUHVW WUHQQWHQ GLH I U LKUHQ *ODXEHQ NlPSIWHQ -HGH HLQ]HOQH VWRO]H 1DWLRQ VSLHOWH VHLQH 5ROOH SÀLFKWEH ZXVVW 'DV HUVWH .|QLJUHLFK %DE\ORQ PDFKWH VLFK DXI GHQ P KVHOLJHQ ODQJHQ :HJ QXU XP -XGD ]X ]HUVW|UHQ XQG GHQ 5HVW QDFK %DE\ORQ ]X YHUVFKOHSSHQ 6LHE]LJ -DKUH VSlWHU EUDFKWHQ GLH 3HUVHU GLH *OlXELJHQ QDFK -HUXVDOHP ]XU FN GDPLW VLH GHQ 7HPSHO ZLHGHU DXIEDXHQ NRQQWHQ ± S QNWOLFK HQW VSUHFKHQG GHU 3URSKH]HLXQJHQ -HUHPLDV -HUHPLD ,PPHU ZLHGHU HUNOlUWH GHU +HUU GDVV HU GHUMHQLJH ZDU GHU :HOWUHLFKH HQWVWHKHQ OLH XQG ZLHGHU ]X )DOO EUDFKWH -HVDMD 'DQQ HUREHUWHQ GLH *ULHFKHQ Y &KU GLH :HOW DOV $OH[DQGHU GHU *UR H GHQ 1DKHQ 2VWHQ ELV QDFK ,QGLHQ GXUFK]RJ $OV HLIULJHU ª0LV VLRQDU© GHV +HOOHQLVPXV XQG DOV 6WXGHQW YRQ $ULVWRWHOHV YHUEUHLWHWH $OH[DQGHU GDV ª(YDQJHOLXP© GHU KHOOHQLVWLVFKHQ .XOWXU KXPDQLVWLVFKH 3KLORVRSKLH XQG GLH $QEHWXQJ GHV =HXV $XFK ZROOWH HU VLFK I U GLH =HU VW|UXQJ JULHFKLVFKHU 6WlGWH GXUFK GLH 3HUVHU LP YRUKHULJHQ -DKUKXQGHUW UlFKHQ 'XUFK GLHVH ,QYDVLRQ DXV GHP :HVWHQ ZXUGH GHU JOlXELJH hEHU UHVW ,VUDHOV VFKZHU JHSU IW 6LH ZXUGHQ JH]ZXQJHQ VLFK ]ZLVFKHQ GLHVHU IU KHQ ª1HZ $JH© %HZHJXQJ PLW VHLQHQ *|WWHUQ GHU )UHLKHLW XQG LKUHP VWUHQJHQ DOWHQ *ODXEHQ ]X HQWVFKHLGHQ $OV VLH QDFK GHU $XIWHLOXQJ GHV 5HLFKHV $OH[DQGHUV YRQ V\ULVFKHQ /HJDWHQ LQ GLH (QJH JHGUlQJW ZXUGHQ ZLGHUVHW]WHQ VLFK GLH JOlXELJHQ ,VUDHOLWHQ PXWLJ XQG YROOHU 9HUWUDXHQ DXI *RWW GHQ (LQGULQJOLQJHQ 9RU EHUZlOWLJHQGHQ 6FKZLHULJNHLWHQ VWHKHQG VFKOXJHQ GLH 0DNNDElHU PLW HLQHU $UPHH DXV JHZ|KQOLFKHQ /HXWHQ GLH V\ULVFKHQ +RUGHQ LQ GLH )OXFKW XQG JHZDQQHQ GDGXUFK OHW]WHQGOLFK HLQH JHZLVVH 8QDEKlQJLJNHLW 'LHVHV PLWUHL HQGH 'UDPD QDFK GHP 0RWWR ª'DYLG JHJHQ *ROLDWK© EUDFKWH GLH 1DWLRQ ]X LKUHP *ODXEHQ ]XU FN ) U ,VUDHO ZXUGH HV ]X HLQHU EOHLEHQGHQ ,QVSLUDWLRQ XQG PDQ HULQQHUW VLFK ELV KHXWH EHLP DFKWWlJLJHQ &KDQXNNDIHVW GDUDQ
.$3,7(/ (,1 )$0,/,(1675(,7 (17)/$007 (51(87
'DV YLHUWH .|QLJUHLFK GDV EHU ,VUDHO UHJLHUWH ZDU GDV ªHLVHUQH© 5| PLVFKH 5HLFK 'DQLHO 'LHVHV PlFKWLJH 5HLFK EHUHLWHWH GLH :HOW XQZLVVHQWOLFK DXI GDV .RPPHQ GHV 0HVVLDV YRU 'LH U|PLVFKHQ .DLVHU XQWHUZDUIHQ GLH JDQ]H :HOW XQG PDFKWHQ DOOH 9|ONHU ]X *HLVHOQ 5RPV +HURGHV GHU *UR H HLQ ,GXPlHU XQWHUZDUI -XGlD GHU +HUUVFKDIW 5RPV %HLGH 5HJLHUXQJHQ ZDUHQ YROONRPPHQ VHOEVWV FKWLJ XQG JRWWORV DEHU LKUH 3ROLWLN EHUHLWHWH GLH :HOW DXI GHQ 0HVVLDV YRU
,VUDHOV 6LWXDWLRQ EHLP .RPPHQ -HVX :LH KDEHQ GLHVH KHLGQLVFKHQ 0lFKWH ,VUDHO DXI GDV .RPPHQ GHV 0HVVLDV YRUEHUHLWHW" 0DQ PXVV ]XJHEHQ GDVV LKUH HLJHQWOLFKHQ $EVLFKWHQ QHJDWLY ZDUHQ DEHU GLH 0HQVFKHQ ZXUGHQ JH]ZXQJHQ ]X HUNHQQHQ ZLH JUR GLH 1RWZHQGLJNHLW GHU (UO|VXQJ ZDU 6LH ZDUHQ HLQ bUJHUQLV JHJHQ GDV HLQ 0LWWHO JHIXQGHQ ZHUGHQ PXVVWH :lKUHQG GLH *ULHFKHQ GLH -XGHQ ]ZDQ JHQ DXV LKUHP HQJHQ NXOWXUHOOHQ .RNRQ ]X VFKO SIHQ XQG GHU :HOW HLQH XQLYHUVHOOH 6SUDFKH JDEHQ LQ ZHOFKH GLH KHEUlLVFKHQ 6FKULIWHQ EHUVHW]W ZXUGHQ VFKXIHQ GLH 5|PHU HLQH :HOWUHJLHUXQJ GLH GHQ )ULHGHQ EHUZDFK WH XQG HLQ 6WUD HQV\VWHP GDV 5HLVHQ YHUHLQIDFKWH ± ]ZHL ZLFKWLJH 9RUDXV VHW]XQJHQ I U GLH VSlWHUH 9HUEUHLWXQJ GHV (YDQJHOLXPV $EHU GHU JU| WH 9RUWHLO ZDU GLH :LHGHUEHOHEXQJ GHV M GLVFKHQ *ODXEHQV 'LHVH KHLGQL VFKHQ 5HLFKH IRUGHUWHQ GHQ *ODXEHQ GHU -XGHQ KHUDXV XQG ]ZDQJHQ VLH GDI U ]X NlPSIHQ XQG LKQ VFKlW]HQ ]X OHUQHQ 'HU ]HUOXPSWH 5HVW ,VUDHOV ± PLW NDXP PHKU DOV GHP IURPPHQ 9RUVDW] ± QDKP DOOHQ 0XW ]XVDPPHQ XP JHJHQ GLH KHIWLJHQ KHLGQLVFKHQ $QJULIIH GHV +HOOHQLVPXV DQ]XWUHWHQ 'LHVH (UHLJQLVVH YHUWLHIWHQ DXFK LKUH 6HKQVXFKW QDFK HLQHP YHUKHL HQHQ (UO|VHU 'LH 0HQVFKHQ HULQQHUWHQ VLFK DQ GLH 9HUKHL XQJHQ HL QHV PlFKWLJHQ 6LHJHUV GHU HLQ 6RKQ 'DYLGV VHLQ VROOWH :lKUHQG ,VUDHO GHQ VLHJUHLFKHQ 0lQQHUQ ZLH $OH[DQGHU &lVDU XQG +HURGHV ]XVDK GLH DOOH 5HFKWVFKDIIHQHQ DXV GHP :HJ UlXPWHQ VHKQWH VLFK GHU JOlXELJH hEHUUHVW QDFK VHLQHP YHUKHL HQHQ +HOGHQ 8QGHXWOLFK VDKHQ VLH GLHVHQ PlFKWLJHUHQ 'DYLG GHU KLQWHU GHQ .XOLVVHQ ZDUWHWH XP PLW HLQHP 9HU JHOWXQJVVFKODJ LKUH )HLQGH ]X ]HUVW|UHQ 6LH ZXVVWHQ GDVV 7\SHQ ZLH *ROLDWK +DPDQ XQG $QWLRFKXV (SLSKDQHV YRU LKP QLHGHUIDOOHQ Z UGHQ -HVDMD 0LFKD /XNDV XQG GLHVH +RIIQXQJ VWlUNWH LKUHQ 0XW XQG OLH VLH GDYRQ WUlXPHQ EHU 1DWLRQHQ ]X KHUUVFKHQ 6RO FKH 7UlXPH ZXUGHQ ]X HLQHP QDWLRQDOHQ 'RJPD
:(0 *(+g57 '$6 /$1'"
$OV -HVXV DXIWUDW PXVVWHQ GLH -XGHQ MHGRFK HUNHQQHQ GDVV HU QLFKW GHU PLOLWDQWH 0HVVLDV ZDU GHQ VLH VLFK YRUJHVWHOOW KDWWHQ 'LHVHU 0DQQ ZDU HLQIDFK QLFKW GHU 0HVVLDV DQ GHQ VLH JHGDFKW KDWWHQ $QVWDWW VLFK DXI LKUH 6HLWH ]X VFKODJHQ XP *ROLDWK PLW 'DYLGV 6FKZHUW ]X YHUQLFKWHQ ZDU -HVXV VDQIW XQG KHLOWH GLH .UDQNHQ XQG 9HULUUWHQ $QVWDWW VLFK JHJHQ 5RP ]X HUKHEHQ VFKLHQ HU VLFK PLW 5RP JHJHQ GLH *OlXELJHQ ]X YHUE QGHQ (U QDKP GLH 6WHXHUHLQWUHLEHU XQG *HlFKWHWHQ DQ ZHQQ VLH QXU HLQIDFK DQ LKQ JODXEWHQ XQG YRQ +HU]HQ LKUH 6 QGHQ EHUHXWHQ (U VW UPWH GXUFK LKUHQ 7HPSHO ZLH HLQ (OHIDQW LP 3RU]HOODQ ODGHQ XQG ]HUVW|UWH LKU OXNUDWLYHV 6\VWHP YRQ 5LWXDOHQ (U ªHQWZHLKWH© VRJDU GHQ 6DEEDW LQGHP HU DQ GLHVHP KHLOLJHQ 7DJ JXWH :HUNH YROO EUDFKWH $P VFKOLPPVWHQ DEHU ZDU GDVV HU 6 QGHQ YHUJDE XQG DN]HS WLHUWH DOV *RWW YHUHKUW ]X ZHUGHQ (U ZXVVWH GDVV *RWW GHU HLQ]LJH +HUU LVW XQG EHDQVSUXFKWH I U VLFK GDVV HU XQG *RWW HLQV VHLHQ 0RVH -RKDQQHV (U WUDW LKQHQ RIW DOV ª6RKQ *RWWHV© YRQ GHP GHU 3VDO PLVW VSUDFK JHJHQ EHU 3VDOP %HL DOOHGHP VFKLHQ HU LKUH SR OLWLVFKH 9HUVNODYXQJ QLFKW ZDKU]XQHKPHQ XQG ]HLJWH LKQHQ JHJHQ EHU ZHQLJ 0LWJHI KO ZHJHQ LKUHU KHLGQLVFKHQ 8QWHUGU FNHU 'HVKDOE ZXUGH HU YRQ GHQ UHOLJL|VHQ ) KUHUQ ,VUDHOV DEJHOHKQW 'HU HUVWDXQOLFKH +|KHSXQNW ZDU MHGRFK DOV GLHVH UHOLJL|VHQ ) KUHU VLFK PLW LKUHQ SROLWLVFKHQ )HLQGHQ ]XVDPPHQVFKORVVHQ XP GDV /DQG YRQ GLHVHP ]XN QIWLJHQ 0HVVLDV ]X EHIUHLHQ 0DUNXV HU]lKOW XQV ª8QG GLH 3KDULVl HU JLQJHQ KLQDXV XQG KLHOWHQ PLW GHQ +HURGLDQHUQ VRIRUW 5DW JHJHQ LKQ ZLH VLH LKQ XPEUlFKWHQ© 0DUNXV 'LHVH HLQJHVFKZRUHQHQ )HLQGH YHUJD HQ NXU]IULVWLJ LKUHQ 6WUHLW XQG JODXEWHQ GDVV GDV 6FKLFNVDO GHU 1DWLRQ YRQ GHU 9HUQLFKWXQJ GLHVHV +HXFKOHUV DEKlQJLJ ZDU -RKDQQHV 'DPLW ]HLJWHQ VLH LKUH /R\DOLWlW JHJHQ EHU 5RP XQG QLFKW JHJHQ EHU GHP YHUKHL HQHQ 0HVVLDV %HL -HVX .UHX]LJXQJ EHUQDKPHQ VLH GLH 9HUDQWZRUWXQJ I U VHLQHQ 7RG XQG VDJWHQ ª6HLQ %OXW NRPPH EHU XQV XQG EHU XQVHUH .LQGHU © 0DWWKlXV 'LH OHW]WHQ :RUWH GHU +RKHQSULHVWHU EHL -HVX 9HUXUWHLOXQJ ZDUHQ ª:LU KDEHQ NHLQHQ .| QLJ DX HU GHP .DLVHU© -RKDQQHV (LQ VFKZDFKHV %LOG JDEHQ VLH KLHU DE EHVRQGHUV I U GDV DXVHUZlKOWH 9RON $OOHV VFKLHQ XQZLUNOLFK ]X VHLQ HLQH VFKPXW]LJH $IIlUH ZLH HLQ YHUVFKZRPPHQHU $OSWUDXP :DUHQ GLH 9HUXUWHLOXQJ XQG GHU 7RG -HVX LUJHQGZLH HLQH NOXJH 9HUVFKZ|UXQJ ]XP 3DVVDKIHVW ZDUHQ VLH YLHO OHLFKW HLQ 7ULFN GLHVHV 1D]DUHQHUV XQG VHLQHU $QKlQJHU" :DUHQ -HVXV
.$3,7(/ (,1 )$0,/,(1675(,7 (17)/$007 (51(87
XQG VHLQH NOHLQH 7UXSSH YLHOOHLFKW EHUHLIULJ JHZHVHQ XP GLH 3URSKH WLHQ ]X HUI OOHQ" 2GHU ZDU HV HLQH HFKWH 9HUZHFKVOXQJ" +DWWH GDV DXVHUZlKOWH 9RON VHOEVW HLQHQ )HKOHU NRVPLVFKHQ $XVPD HV JHPDFKW" (LQ %OLFN DXI GLH IROJHQGHQ -DKUKXQGHUWH OLHIHUW HLQLJH HQWVHW]OLFKH DEHU DXIVFKOXVVUHL FKH +LQZHLVH
.DSLWHO
'LH -XGHQ LQ GHU ZHOWZHLWHQ =HUVWUHXXQJ 9RU VHLQHP 7RG PDFKWH -HVXV VHLQHQ - QJHUQ HLQLJH HUVFKUHFNHQGH 9RU DXVVDJHQ EHU GLH =XNXQIW ,VUDHOV (V Z UGHQ GXQNOH 7DJH NRPPHQ -H UXVDOHP XQG GHU 7HPSHO Z UGHQ ]HUVW|UW ZHUGHQ XQG GLH 1DWLRQHQ Z U GHQ ZLHGHU GLH 6WDGW YHUZ VWHQ 'LH hEHUOHEHQGHQ Z UGHQ XQWHU DOOH 1DWLRQHQ JHIDQJHQ ZHJJHI KUW ZHUGHQ 0DWWKlXV /XNDV 'HU 3URSKHW 'DQLHO KDWWH GLHV VFKRQ YRU ODQJHU =HLW YRUKHUJH VDJW XQG DQJHPHUNW GDVV GLHV NXU] QDFKGHP GHU 0HVVLDV ªDXVJHURWWHW ZHUGHQ ZLUG© JHVFKHKHQ Z UGH 'DQLHO -HVXV VSUDFK YRQ GHU (U I OOXQJ GLHVHU 3URSKHWLH XQG HUNOlUWH GDVV HV VR JHVFKHKHQ Z UGH ZHLO ªGX GLH =HLW GHLQHU +HLPVXFKXQJ QLFKW HUNDQQW KDVW© /XNDV 'HU +LPPHO ZDU ]X ,VUDHO JHNRPPHQ DEHU GDV 9RON KDWWH VHLQHQ J|WWOL FKHQ %HVXFKHU QLFKW HUNDQQW
'LH =HUVWUHXXQJ XQWHU 5RP -HUXVDOHPV =HUVW|UXQJ LP -DKUH Q &KU 'LH 9RUKHUVDJH EHU -HUXVDOHP HUI OOWH VLFK YLHU]LJ -DKUH VSlWHU GXUFK GLH U FNVLFKWVORVH 0DFKW 5RPV 1DFK GUHLMlKULJHP .DPSI JHJHQ HLQHQ KDUWQlFNLJHQ :LGHUVWDQG ZXUGH -HUXVDOHP YRQ GHQ 5|PHUQ YLHU 0RQD WH ODQJ HLQHU EHLVSLHOORVHQ 4XDO XQG %OXWYHUJLH HQ DXVJHVHW]W )ODYLXV -RVHSKXV HLQ M GLVFKHU +LVWRULNHU GHU DOOHV VHOEVW HUOHEWH EHVFKULHE GLH (LQ]HOKHLWHQ GLHVHV EOXWLJHQ 'UDPDV -RVHSKXV ZLUG DOOJHPHLQ DOV 9HU UlWHU VHLQHU 1DWLRQ DQJHVHKHQ GHU VLFK DXI GLH 6HLWH 5RPV VFKOXJ DOV HV GHQ =HORWHQ VFKOHFKWHU JLQJ 'D HU GLH %HODJHUXQJ -HUXVDOHPV GXUFK 5RP VHOEVW PLWHUOHEWH VFKULHE HU GLHVH .DWDVWURSKH DXI 6HLQH KLVWR ULVFKHQ 6FKULIWHQ VLQG QHEHQ GHQ )XQGHQ GHU 6FKULIWUROOHQ YRP 7RWHQ 0HHU XQVHUH +DXSWTXHOOH I U MHQH (SRFKH XQG ZHUGHQ DEJHVHKHQ YRQ HLQLJHQ RIIHQVLFKWOLFKHQ )HKOHUQ I U KLVWRULVFK NRUUHNW JHKDOWHQ 'LH %HODJHUXQJ LP -DKUH Q &KU ZXUGH YRQ ]ZHL U|PLVFKHQ *HQH UlOHQ GXUFKJHI KUW 8QWHU M GLVFKHQ -XJHQGOLFKHQ KDWWH VLFK DXIJUXQG
.$3,7(/ ',( -8'(1 ,1 '(5 :(/7:(,7(1 =(5675(881*
YRQ $UEHLWVORVLJNHLW XQG GHU U|PLVFKHQ 8QWHUGU FNXQJ HLQH $WPRVSKl UH GHU 5HEHOOLRQ HQWZLFNHOW 8P GLHVHQ $XIVWDQG ]X XQWHUGU FNHQ HQW VDQGWH .DLVHU 1HUR ]ZHL VHLQHU HUIROJUHLFKVWHQ *HQHUlOH )ODYLXV 9HV SDVLDQ XQG VHLQHQ 6RKQ 7LWXV PLW I QI]LJWDXVHQG (OLWHWUXSSHQ 7URW] GLHVHU 0DFKW GDXHUWH HV ]ZHL -DKUH ELV *DOLOlD XQG -XGlD HUREHUW ZXU GHQ XQG GLH +RFKEXUJHQ XP -HUXVDOHP XP]LQJHOW ZDUHQ :lKUHQGGHV VHQ VSDOWHWHQ VLFK GLH =HORWHQ LQ -HUXVDOHP LQ PHKUHUH VLFK JHJHQVHLWLJ EHNlPSIHQGH *UXSSHQ XQG EUDFKWHQ GLH YHU]ZHLIHOWH 6WDGW DQ GHQ 5DQG HLQHV % UJHUNULHJV $XFK LQ 5RP KHUUVFKWH Q &KU $XIUXKU 1DFK 1HURV ([LO YHUVXFKWH HLQH *UXSSH YRQ $QZlUWHUQ DXI GHQ .DLVHUWKURQ GDV 5HLFK ]X UHJLHUHQ XQG ]X YHUHLQHQ MHGRFK HUIROJORV ,P +HUEVW VDK 9HVSDVLDQ VHLQH &KDQFH I U GHQ 7KURQ XQG JLQJ QDFK 5RP -HW]W ZDU 7LWXV DOOHLQ YHUDQW ZRUWOLFK I U GHQ .DPSI JHJHQ -XGD ZDV GLH U|PLVFKH *HGXOG XQG GLH U|PLVFKHQ 5HVVRXUFHQ VWDUN EHODVWHWH ,P )HEUXDU Q &KU ZDU 7LWXV ELV ]XP 6WDGWUDQG YRQ -HUXVDOHP YRUJHGUXQJHQ XQG KRIIWH DXI HLQHQ VFKQHOOHQ 6LHJ (U ZROOWH ]XU .U|QXQJV]HUHPRQLH UHFKW]HLWLJ ZLHGHU LQ 5RP VHLQ (U ZROOWH GLH 6WDGW QLFKW ]HUVW|UHQ VRQGHUQ QXU XQWHUZHU IHQ XQG GLHVHU XQVLFKHUHQ *HJHQG )ULHGHQ EULQJHQ 7LWXV KDWWH VLFK LQ %HUQLFH YHUOLHEW GLH VFK|QH XQG OHEKDIWH 6FKZHVWHU $JULSSDV ,, HLQ 1DFKNRPPH YRQ +HURGHV ZRGXUFK HU JHQHLJW ZDU PLW GHU M GLVFKHQ +DXSWVWDGW XQG LKUHQ +HLOLJW PHUQ YRUVLFKWLJ XP]XJHKHQ .XU] YRU GLHVHU %HODJHUXQJ ZDUHQ HQRUP YLHOH -XGHQ DXV GHQ HQWOHJH QHQ *HELHWHQ GXUFK GLH 6WDGWWRUH JHVWU|PW XP GDV 3DVVDKIHVW ]X IHLHUQ XQG GDEHL ]X KHOIHQ GLH 6WDGW ]X YHUWHLGLJHQ /DXW -RVHSKXV ZXUGHQ 0LOOLRQHQ 0HQVFKHQ HLQVFKOLH OLFK GHU 6WDGWEHZRKQHU LQQHU KDOE GHU 0DXHUQ IHVWJHKDOWHQ 'LH YRQ 7LWXV JHVWHOOWHQ %HGLQJXQJHQ I U GLH $XIJDEH GHU %HODJHUXQJ ZXUGHQ YHKHPHQW DEJHOHKQW hEHU]HXJW GDYRQ GDVV *RWW LKQHQ ZLH EHL GHQ JOlXELJHQ 0DNNDElHUQ ]X +LOIH NRPPHQ Z UGH I KOWHQ VLFK GLH =HORWHQ VLFKHU GDVV LKUH 6WDGW XQG GHU 7HPSHO GHQ $QJULII EHUVWHKHQ Z UGHQ 'LH %HODJHUXQJ GDXHUWH MHGRFK IDVW YLHU 0RQDWH XQG EUDFKWH QXU +XQJHU XQG .UDQNKHLW 9LHOH YHUKXQ JHUQGH 6WDGWEHZRKQHU JDEHQ VLFK GHP .DQQLEDOLVPXV KLQ $P QHXQWHQ 7DJ GHV 0RQDWV $E -XOL $XJXVW ¿HOHQ GLH 5|PHU LQ GLH 6WDGW HLQ XQG ] QGHWHQ LP 7XPXOW GHQ 7HPSHO DQ 'LH 6WDGW PLW LKUHQ 0DXHUQ EUDQQWH ELV DXI GHQ *UXQG QLHGHU ª'XUFK HLQHQ PHUNZ UGLJHQ =XIDOO ¿HO GHU ]ZHLWH 7HPSHO DP -DKUHVWDJ GHU =HUVW|UXQJ GHV HUVWHQ
:(0 *(+g57 '$6 /$1'"
7HPSHOV© Y &KU 9RQ GHU 6WDGW EOLHEHQ QXU HLQ +DXIHQ 6FKXWW XQG YHUNRKOWH /HLFKHQ EULJ ) QIKXQGHUW M GLVFKH ) KUHU ZXUGHQ DXI GHU 6WHOOH JHNUHX]LJW -RVHSKXV ULHI EHU GDV %OXWEDG DXV ª(V VLQG VR YLHOH GRUW XPJHNRPPHQ GDVV HV MHGH =HUVW|UXQJ EHUVWHLJW GLH MHPDOV GXUFK 0HQVFKHQ RGHU GXUFK *RWW EHU GLH :HOW JHEUDFKW ZXUGH © 'LH 9HUZ VWXQJ JLQJ VR ZHLW GDVV ªMHGHU GHU GRUWKLQ NDP JODXEWH GDVV GLH 6WDGW QLHPDOV EHZRKQW JHZHVHQ VHL 'XUFK GHQ :DKQVLQQ GHUMHQLJHQ GLH I U 1HXHUXQJHQ ZDUHQ ZXUGH -HUXVDOHP YHUQLFKWHW HLQH VRQVW JUR DUWLJH 6WDGW GLH XQWHU GHU JDQ]HQ 0HQVFKKHLW 5XKP JHQRVV © :DUXP KDWWH GHU +HUU GLH JHZDOWLJH =HUVW|UXQJ GHU M GLVFKHQ ª+HLOLJHQ 6WDGW© ]XJHODVVHQ" $XIJUXQG GHU %HPHUNXQJHQ -HVX HWZD YLHU]LJ -DKUH ]XYRU NDQQ PDQ DQQHKPHQ GDVV HV QLFKW QXU GLH )ROJH HLQHV :XWDXVEUXFKV GHU U|PLVFKHQ 6ROGDWHQ ZDU 'LHV KDWWH HLQH JHLVWOLFKH 8UVDFKH PLW HL QHU YLHO JU| HUHQ %HGHXWXQJ 'DV %OXWEDG KLQJ PLW 'DQLHOV 3URSKHWLH EHU GLH =HUVW|UXQJ GHU 6WDGW ]XVDPPHQ QDFKGHP GHU 0HVVLDV ªDXVJH URWWHW© ZHUGHQ Z UGH 'LH :RUWH 'DQLHOV XQG -HVX KlWWHQ NDXP Z|UWOLFKHU HUI OOW ZHUGHQ N|QQHQ 1XU GLH YHUEOHLEHQGH 0DXHU GLH GLH *UXQGODJH I U GHQ 7HPSHO ELOGHWH KHXWH EHNDQQW DOV ª.ODJHPDXHU© RGHU ª:HVWPDXHU© ZDU LQWDNW JHEOLHEHQ 'LH hEHUOHEHQGHQ GHV %OXWEDGV ZXUGHQ DOV *HIDQJHQH YHU NDXIW 'HU M GLVFKH +LVWRULNHU +HLQULFK *UDHW] EHVFKUHLEW ZLH 7DXVHQGH -XJHQGOLFKH QDFK bJ\SWHQ XQG LQ GLH 6WlGWH (XURSDV JHEUDFKW ZXUGHQ ZR VLH DOV 6NODYHQ YHUNDXIW RGHU ]XU N|QLJOLFKHQ 8QWHUKDOWXQJ LQ GHQ $UHQHQ GHQ %HVWLHQ ]XP )UD YRUJHZRUIHQ ZXUGHQ 'DQQ EHVFKUHLEW HU GDV (UJHEQLV 'LH M GLVFKHQ *HPHLQGHQ LQ 6\ULHQ .OHLQDVLHQ $OH[DQGULD XQG 5RP WHLOWHQ NDXP GDV 6FKLFNVDO LKUHU %U GHU LQ -XGlD 'HU .ULHJ KDWWH GHQ +DVV GHU JDQ]HQ KHLGQLVFKHQ :HOW JHJHQ GLH XQJO FNOL FKHQ .LQGHU ,VUDHOV HQWIDFKW ± HLQ ]XWLHIVW IDQDWLVFKHU +DVV PLW GHP =LHO GLH JDQ]H 5DVVH ]X YHUQLFKWHQ 'HU :LGHUVWDQG YRQ 0DVDGD 'LH )HVWXQJ 0DVDGD LQ GHU : VWH ZDU GHU OHW]WH UHEHOOLVFKH 9RUSRVWHQ GHU GUHL -DKUH VSlWHU LP )U KOLQJ HUREHUW ZXUGH +LHU ZLHGHUKROWH VLFK GDV 8QJO FN YRQ -HUXVDOHP LP NOHLQHUHQ $XVPD DOV VLFK GHU =H ORWHQI KUHU (OHDVDU GHP U|PLVFKHQ *HQHUDO 6LOYD ZLGHUVHW]WH $QVWDWW
.$3,7(/ ',( -8'(1 ,1 '(5 :(/7:(,7(1 =(5675(881*
VLFK ]X HUJHEHQ XP YHUNDXIW RGHU DEJHVFKODFKWHW ]X ZHUGHQ ZlKOWHQ ZLGHUVWlQGLVFKH -XGHQ OLHEHU GHQ )UHLWRG 'DV WDWHQ VLH DXJHQ VFKHLQOLFK PLW 6WLO 1XU ]ZHL )UDXHQ XQG I QI .LQGHU YHUVWHFNWHQ VLFK XQG EHUOHEWHQ XP GLH *HVFKLFKWH ]X HU]lKOHQ ,Q YLHOHQ (U]lKOXQJHQ ZLUG GLHVHU $XIVWDQG RIW DXVJHVFKP FNW XP GLH 7DSIHUNHLW XQG (QWVFKORVVHQKHLW GHU M GLVFKHQ :LGHUVWDQGVNlPS IHU KHUYRU]XKHEHQ 'LH HLQ]LJH KLVWRULVFKH %HVFKUHLEXQJ KDEHQ ZLU MH GRFK YRQ -RVHSKXV GHU GDV (UHLJQLV DXV HLQHU JDQ] DQGHUHQ 3HUVSHNWLYH EHOHXFKWHW XQG GLH -XGHQ QLFKW DOV +HOGHQ GDUVWHOOW (U EHVFKUHLEW GLH =HORWHQ DOV Y|OOLJ ERVKDIW ª6LH ZDUHQ ZLGHUOLFKH :LFKWH© VDJW HU VLH ªVFKQLWWHQ GHQ +RKHQSULHVWHUQ GLH .HKOHQ GXUFK GDPLW QLFKWV YRQ LKUHU UHOLJL|VHQ %H]LHKXQJ ]X *RWW EULJ EOLHE« 6LH DKPWHQ MHGH JRWWORVH 7DW QDFK :HQQ LKQHQ LUJHQGHWZDV %|VHV HLQ¿HO ]|JHUWHQ VLH QLFKW HV HLIULJ DXV]XI KUHQ © 0DVDGD ZXUGH ]XU WUDJLVFKHQ )X QRWH GHU J|WWOLFKHQ /HNWLRQ GLH VLFK LQ -HUXVDOHP DEVSLHOWH 0DQ VFKLHQ GHP *HULFKW QLFKW ]X HQWNRPPHQ DXFK QLFKW LQ GHU EHU KPWHQ KHURGLDQLVFKHQ )HVWXQJ 'DV 9RON KDWWH QLFKW HUNDQQW GDVV *RWW LQ GHU 3HUVRQ GHV 0HVVLDV ]X LKQHQ JHNRPPHQ ZDU 6R ZXUGH IDVW GLH JDQ]H %HY|ONHUXQJ -XGlDV YHUQLFKWHW XQG GLH 1DWLRQ ODJ LP 5XLQ 5|PLVFKH 9HUIROJXQJ XQG %DU .RFKED $XIVWDQG Q &KU
1DFK GHP .ULHJ YHUEUHLWHWHQ VLFK LP JDQ]HQ 5|PLVFKHQ 5HLFK DQWL M GLVFKH (LQVWHOOXQJHQ -XGHQ ZXUGHQ DOV %HGURKXQJ DQJHVHKHQ :HLO VLH GLH 0DFKW 5RPV JHGHP WLJW KDWWHQ LQGHP VLH VLFK GHQ U|PLVFKHQ 7UXSSHQ PHKUHUH -DKUH ODQJ ZLGHUVHW]W KDWWHQ ZXUGHQ GLH -XGHQ ]XP 6FKDXVSLHO I U GLH :HOW XQG EHNDPHQ HLQH ELWWHUH /HNWLRQ I U LKUH 5H EHOOLRQ HUWHLOW 7DWVlFKOLFK EHDXIWUDJWH 9HVSDVLDQ -RVHSKXV QDFKGHP HU VLFK LQ *DOLOlD HUJHEHQ KDWWH GLH U|PLVFKHQ /HJLRQlUH QDFK -HUXVDOHP ]X EHJOHLWHQ XP GLHVH *HVFKLFKWH DXI]X]HLFKQHQ 'HQ hEHUOHEHQGHQ ZXUGH ZHQLJ *QDGH JHVFKHQNW :lKUHQG GHU +HUUVFKDIW +DGULDQV Q &KU ZXUGH -HUXVDOHP DOV U|PLVFKH 6WDGW QDPHQV $HOLD &DSLWROLQD ZLHGHU DXIJHEDXW XQG GRUW ZR IU KHU GHU M GLVFKH 7HPSHO VWDQG HUULFKWHWH PDQ I U -XSLWHU HLQHQ 7HPSHO 'DV M GLVFKH 5LWXDO GHU %HVFKQHLGXQJ ZXUGH JHVHW]OLFK YHU ERWHQ 'LHVH VWlQGLJHQ 8QWHUGU FNXQJHQ HPS|UWH GLH ]XU FNJHNHKUWH *HPHLQVFKDIW VR VHKU GDVV HV Q &KU HLQHQ ZHLWHUHQ $XIVWDQG JHJHQ