ǴǶȇ ǹǺǸǨǹǺȄ Ǩ ǽ Ǩ dzǺǭDzǰǵǾȃ 0< 3$66,21 )25 $.+$/7(. (6
ǴǶȇ ǹǺǸǨǹǺȄ Ǩ ǽ Ǩ dzǺǭDzǰǵǾȃ 0< 3$66,21 )25 $. +$/7(. (6
ǶȒȓȭ ȝȞȜȓȘȠȖȞȜȐȎțȖȓ ȒȖȕȎȗț Ȗ ȝȡȏșȖȘȎȤȖȭ ȫȠȜȗ ȘțȖȑȖ ȝȞȓȒșȜȔȓțȩ Ȗ ȐȩȝȜșțȓțȩ Ȁ ǽȜțȠȓȘȜȞȐȜ Ȑ ȑRȒȡ ǿȎȚȎ ȘțȖȑȎ ȖșȖ ȓȮ ȥȎȟȠȖ ȐȘșȬȥȎȭ ȢȜȠȜȑȞȎȢȖȖ țȓ ȚȜȔȓȠ ȏȩȠȪ ȝȓȞȓȘȜȝȖȞȜȐȎțȎ ȝȜȘȎȕȎțȎ Ȑ ȖțȠȓȞțȓȠȓ ȖșȖ ȖȟȝȜșȪȕȜȐȎțȎ ȘȎȘȖȚ șȖȏȜ ȒȞȡȑȖȚ ȜȏȞȎȕȜȚ ȏȓȕ ȝȖȟȪȚȓțțȜȑȜ ȞȎȕȞȓȦȓțȖȭ ȎȐȠȜȞȎ 7KLV ERRN ZDV SURGXFHG RULJLQDWHG DQG SXEOLVKHG E\ 7LWR 1 3RQWHFRUYR 3K ' &RS\ULJKW 'U 7LWR 3RQWHFRUYR &RQFHSW DQG 'HVLJQ FRS\ULJKW 'U 7LWR 3RQWHFRUYR $OO ULJKWV UHVHUYHG 1R SDUW RI WKLV ERRN LQFOXGLQJ SKRWRV PD\ EH UHSURGXFHG LQ DQ\ PDQQHU SRVWHG RQ WKH LQWHUQHW RU XVHG LQ RWKHU PHGLD ZKDWVRHYHU ZLWKRXW 7 3RQWHFRUYR·V ZULWWHQ SHUPLVVLRQ
ǶǫdzǨǪdzǭǵǰǭ CONTENTS
Ǽȏ ȜȟȜȏȓțțȜȟȠȭȣ ȖȕȚȓțȓțȖȭ ȞȓȕȐȜȟȠȖ țȎ ȒșȖțțȩȣ ȒȖȟȠȎțȤȖȭȣ ȡ
ǽȞȓȒȖȟșȜȐȖȓ ȎȐȠȜȞȎ
GLVWDQFH UDFHV DW $NKDOWHNH KRUVHV
$XWKRU·V SUHIDFH
ǹȬȏȖȠȓșȭȚ ȎȣȎșȠȓȘȖțȟȘȖȣ șȜȦȎȒȓȗ
ǽȞȓȟȠȖȔ șȜȦȎȒȓȗ ȎȣȎșȠȓȘȖțȟȘȜȗ ȝȜȞȜȒȩ Ȗ ȝȡȠȖ ȓȑȜ ȝȜȐȩȦȓțȖȭ
)RU WKH ORYHUV RI WKH $NKDOWHNH KRUVHV
3UHVWLJH RI WKH $NKDOWHNH KRUVHV DQG ZD\V RI LW·V LPSURYHPHQW
% ȝ ȦȎȚȏȜȞȎțȠ ȐȓșȖȘȖȗ ȟȓșȓȘȤȖȜțȓȞ ȎȣȎșȠȓȘȖțȟȘȜȗ ȝȜȞȜȒȩ șȜȦȎȒȓȗ
Ǽ ȟȡȧȓȟȠȐȡȬȧȓȗ ȘȜȞȞȓșȭȤȖȖ ȚȓȔȒȡ ȚțȜȑȜȜȏȞȎȕȖȓȚ șȖțȖȗ Ȗ
9 6KDPERUDQW *UHDW %UHHGHU 2I 7KH $NKDOWHNH +RUVHV
ȑȓțȓȠȖȥȓȟȘȖȚ ȞȎȕțȜȜȏȞȎȕȖȓȚ Ȑ ȎȣȎșȠȓȘȖțȟȘȜȗ ȝȜȞȜȒȓ șȜȦȎȒȓȗ Ȗ
Ǽȏ ȎȐȠȜȞȓ Ȗ ȢȜȠȜȑȞȎȢȎȣ
ȐȜȕȚȜȔțȩȚ ȝȞȖȚȓțȓțȖȓȚ ȫȠȖȣ ȟȐȭȕȓȗ Ȓșȭ ȏȜșȓȓ ȜȏȜȟțȜȐȎțțȜȑȜ
$ERXW WKH DXWKRU DQG SKRWRJUDSKHUV
ȝȜȒȏȜȞȎ ȝȎȞ ȝȞȖ ȝșȓȚȓțțȜȚ ȞȎȕȐȓȒȓțȖȖ
ǿȝȖȟȜȘ șȜȦȎȒȓȗ
$ERXW WKH GRZQULJKW FRUUHODWLRQ EHWZHHQ WKH JHQHWLF GLYHUVLW\ DQG WKH
7KH OLVW RI KRUVHV
GLYHUVLW\ RI GLIIHUHQW OLQHV LQ WKH $NKDOWHNH EUHHG DQG WKH SRVVLELOLW\ RI
ǻȓȝȜșțȩȗ ȟȝȖȟȜȘ ȐșȎȒȓșȪȤȓȐ șȜȦȎȒȓȗ ȝȞȓȒȟȠȎȐșȓțțȩȣ Ȑ ȫȠȜȗ ȘțȖȑȓ
XVLQJ WKHVH WLHV LQ D PRUH ZHOO JURXQGHG VHOHFWLRQ RI SDLUV LQ EUHHGLQJ
7KH QRW IXOO OLVW RI RZQHUV RI WKH KRUVHV VKRZQ LQ WKLV ERRN
șȜȦȎȒȓȗ ȎȣȎșȠȓȘȖțȟȘȜȗ ȝȜȞȜȒȩ $ERXW WKH SHFXOLDULW\ LQ WKH FKDQJHV RI WKH SOD\IXOQHVV GXULQJ WKH ORQJ
Ǽ ȐȎȔțȜȟȠȖ ȟȜȣȞȎțȓțȖȭ ȠȖȝȜȐȜȑȜ ȚțȜȑȜȜȏȞȎȕȖȭ Ȑ ȎȣȎșȠȓȘȖțȟȘȜȗ ȝȜȞȜȒȓ șȜȦȎȒȓȗ $ERXW WKH LPSRUWDQFH RI WKH SUHVHUYDWLRQ RI WKH GLYHUVLW\ RI WKH LQEUHHG W\SHV LQ WKH $NKDOWHNH EUHHG
ȅȒșȚȍȘȤȍȘ ȚȐȗ Ȑ ȌȊȐȎȍȕȐȧ ([WHULRU W\SH DQG PRYHPHQWV ǹȖțȖȭ ǿȜȐȣȜȕȎ
ǸȜțȠȎȘȠȩ ȒȞȡȑȖȓ ȢȜȠȜȑȞȎȢȖȖ Ȗ ȖțȢȜȞȚȎȤȖȭ WLWRBSRQWHFRUYR#\DKRR FRP ȀȓșȓȢȜț Ȑ ǿȆǮ ZZZ DNKDOWH[DV FRP &RQWDFWV RWKHU SKRWRV DQG LQIRUPDWLRQ WLWRBSRQWHFRUYR#\DKRR FRP WHOHSKRQH LQ WKH 86 ZZZ DNKDOWH[DV FRP
6RYKRV OLQH ǹȖțȖȭ ǮȘȟȎȘȎșȎ $NVDNDO OLQH ǹȖțȖȭ DZȡțȒȜȑȎȞȎ *XQGRJDU OLQH ǹȖțȖȭ DZȓșȖȦȖȘșȖ *HOLVKLNOL OLQH ǹȖțȖȭ ȂȎȘȖȞ ǽȓșȪȐȎțȎ )DNLU 3HOYDQ OLQH ǹȖțȖȭ ǸȎȝșȎțȎ .DSODQ OLQH ǹȖțȖȭ ǸȎȞșȎȐȎȥȎ .DUODYDFK OLQH ǹȖțȖȭ ǿȓȞȓ 6HUH OLQH ǹȖțȖȭ ǮȞȎȏȎ $UDE OLQH ǹȖțȖȭ ǽȓȞȓțȎ
2
3HUHQ OLQH Ǽ ȟȘȞȓȧȖȐȎțȖȖ ȘȜȏȩș ȞȎȕțȩȣ ȝȜȞȜȒ ȟ ȎȣȎșȠȓȘȖțȟȘȖȚȖ ȔȓȞȓȏȤȎȚȖ 7KH UHVXOWV RI FURVVLQJ PDUHV RI GLIIHUHQW EUHHGV ZLWK $NKDOWHNH VWDOOLRQV ȅȖȟȠȜȘȞȜȐțȩȓ Ȗ ȝȜșȡȘȞȜȐțȩȓ ȎȣȎșȠȓȘȖțȟȘȖȓ șȜȦȎȒȖ Ȑ ȟȝȜȞȠȓ 3XUH SDUW EORRG $NKDOWHNH KRUVHV LQ VSRUW
3
ǺȈȉțȕ ȒȖȉȣȓ ȊȖȏȊȘȈȡȈȦȡȐȑșȧ ȊȍȟȍȘȖȔ ș ȗȈșȚȉȐȡȈ Ȋ ȒȖȕȦȠȕȦ ǸȖșșȐȧ ǺȊȍȘșȒDȧ oȉȓDFȚȤ &ȊȧȚȤs 0DUHV FRPLQJ LQ HYHQLQJ IURP WKH SDVWXUH WR WKH VWDEOH 5XVVLD 7YHUVNR\ 5HJLRQ 6YLDWLR
4
5
DzȖȉ ǽȈȘȐȏȔȈ ǨȘȐȔ ǽȘȐȏȈȕȚȍȔȈ )LOO\ +DULVPD $ULP +UL]DQWHPD
ǮȍȘ ǷȍȋȈș ǫȐȋȈȕȚ ǷȘȐȔȈ ȓȐȕȐȐ ǫțȕȌȖȋȈȘȈ ȜȖȚȖ ȅ DzȐȕȋ 6WDOOLRQ 3HJDV *LJDQW 3ULPD *XQGRJDU OLQH SKRWR ( .LQJ
6
7
ǮȍȘ ǴțȘȔȈȕșȒ ǴȈȔțȒ ǴȈȋȕȖȓȐȧ ȓȐȕȐȐ ǨȒșȈȒȈȓȈ ȜȖȚȖ ȅ ǷȘțȥȕȚȍ 6WDOOLRQ 0XUPDQVN 0DPXN 0DJQROLD $NVDNDO OLQH SKRWR $ 3UXHQWH
ʞʟʔ ʓʗʠ ʚʝʑʗʔ ʏ ʑʡʝʟʏ ǹ ȋȖȌȈ ȗȖ ȕȈșȚȖȧȡȍȍ ȊȘȍȔȧ Ȋ ȚȍȟȍȕȐȍ ȉȖȓȍȍ ȓȍȚ ȧ ȘȈȏȊȖȎț ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ǨȝȈȓȚȍȒȐȕșȒȐȍ ȓȖȠȈȌȐ ȘȖȎȌȨȕȕȣȍ Ȋ ȔȖȐȝ ȜȍȘȔȈȝ Ȋ ǸȖșșȐȐ Ȑ ǹȀǨ ȉȣȓȐ ȟȍȔȗȐȖȕȈȔȐ ǸȖșșȐȐ Ȋ ȚȘȖȍȉȖȘȤȍ Ȑ ȗȘȐȏȨȘȈȔȐ ȊȖ ȔȕȖȋȐȝ ȗȘȍșȚȐȎȕȣȝ șȈȔȖȋȖ ȊȣșȖȒȖȋȖ ȘȈȕȋȈ ȗȓȍȔȍȕȕȣȝ ȊȣȊȖȌȒȈȝ Ȑ șȖȘȍȊȕȖȊȈȕȐȧȝ ȗȖ ȗȘȍȖȌȖȓȍȕȐȦ ȗȘȍȗȧȚșȚȊȐȑ ȚȘȖȍȉȖȘȤȦ Ȑ ȊȣȍȏȌȒȍ Ȋ ǹȀǨ DzȈȕȈȌȍ Ȑ ǴȍȒșȐȒȍ ȇ ȕȍȖȌȕȖȒȘȈȚȕȖ ȗȘȐȋȓȈȠȈȓșȧ șțȌȤȨȑ ȕȈ ȗȓȍȔȍȕȕȣȍ ȊȣȊȖȌȒȐ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ȘȈȏȕȣȝ șȚȘȈȕȈȝ ȔȐȘȈ ǴȖȐ ȗțȉȓȐȒȈȞȐȐ Ȋ ȘȈȏȓȐȟȕȣȝ ȎțȘȕȈȓȈȝ ȖșȊȍȡȈȦȚ ȗȘȖȉȓȍȔȣ ȘȈȏȊȍȌȍȕȐȧ Ȑ ȚȘȍȕȐȕȋȈ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȐșȗȖȓȤȏȖȊȈȕȐȧ Ȋ ȗȘȖȞȍșșȍ ȚȘȍȕȐȕȋȈ ȠȗȘȐȕȋȈȘȚȍȕȖȊ Ȑ ȒȈȊȈȓȍȚȚȐ Ȑ ȌȘ DzȖȘȖȚȒȖ ȗȘȐȊȖȎț ȕȍȒȖȚȖȘȣȍ ȊȣȊȖȌȣ ȖșȕȖȊȈȕȕȣȍ ȕȈ ȘȍȏțȓȤȚȈȚȈȝ ȔȖȍȑ ȓȍȚȕȍȑ ȘȈȉȖȚȍ ș ȓȖȠȈȌȤȔȐ ȥȚȖȑ ȗȖȘȖȌȣ ǷȍȘȊȣȍ țȊȐȌȍȕȕȣȍ ȔȕȖȑ ȈȝȈȓȚȍȒȐȕȞȣ ȗȖȘȈȏȐȓȐ Ȕȍȕȧ șȊȖȐȔ șȊȖȍȖȉȘȈȏȕȣȔ ȥȒșȚȍȘȤȍȘȖȔ Ȑ ȕȍȖȉȣȟȕȣȔ ȧȘȒȐȔ ȚȐȗȖȔ ǷȖ ȔȍȘȍ ȗȘȐȖȉȘȍȚȍȕȐȧ ȔȕȖȑ ȈȝȈȓȚȍȒȐȕȞȍȊ Ȑ țȊȍȓȐȟȍȕȐȧ ȗȖȋȖȓȖȊȤȧ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ȔȖȨȔ ȚȈȉțȕȍ Ȑ șȘȈȊȕȐȊȈȕȐȧ Ȑȝ ș ȓȖȠȈȌȤȔȐ ȌȘțȋȐȝ ȐȏȊȍșȚȕȣȝ Ȋ ȔȐȘȍ ȗȖȘȖȌ ȧ ȗȘȐȠȨȓ Ȓ șȓȍȌțȦȡȐȔ ȏȈȒȓȦȟȍȕȐȧȔ ǨȝȈȓȚȍȒȐȕșȒȐȍ ȓȖȠȈȌȐ ȐȔȍȦȚ ȖȟȍȕȤ ȒȘȍȗȒțȦ ȒȖȕșȚȐȚțȞȐȦ Ȑ ȘȍȌȒȖ ȉȖȓȍȦȚ ǻ ȒȖȉȣȓ ȖȚȓȐȟȕȈȧ ȏȈȎȍȘȍȉȓȧȍȔȖșȚȤ 0ȖȓȖȌȕȧȒ ȓȍȋȒȖ Ȑ ȉȍȏ ȗȘȖȉȓȍȔ ȏȈȍȏȎȈȍȚșȧ ǸȖșșȒȈȏȕȐ Ȗ ȚȖȔ ȟȚȖ ȈȝȈȓȚȍȒȐȕȞȣ țȗȘȧȔȣ ȔȖȋțȚ ȉȣȚȤ ȈȋȘȍșșȐȊȕȣ șȓȈȉȣ ȏȌȖȘȖȊȤȍȔ ȕȍȌȖșȚȈȚȖȟȕȖ șȐȓȤȕȣ Ȑ ȊȣȕȖșȓȐȊȣ Ȍȓȧ țȟȈșȚȐȧ Ȋ ȒȓȈșșȐȟȍșȒȐȝ ȊȐȌȈȝ ȒȖȕȕȖȋȖ șȗȖȘȚȈ Ȑ ȚȖȔț ȗȖȌȖȉȕȣȍ ȏȈȧȊȓȍȕȐȧ șȖȊȍȘȠȍȕȕȖ ȕȍ șȖȖȚȊȍȚșȚȊțȦȚ ȌȍȑșȚȊȐȚȍȓȤȕȖșȚȐ dzȖȠȈȌȐ ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȣ țȕȐȊȍȘșȈȓȤȕȣ Ȋ ȖȚȓȐȟȐȐ ȖȚ ȓȖȠȈȌȍȑ ȔȕȖȋȐȝ ȌȘțȋȐȝ ȗȖȘȖȌ ȟȈșȚȖ ȖȌȕȐ Ȑ Țȍ Ȏȍ ȖșȖȉȐ ȔȖȋțȚ țșȗȍȠȕȖ țȟȈșȚȊȖȊȈȚȤ Ȋ ȘȈȏȓȐȟȕȣȝ ȒȓȈșșȐȟȍșȒȐȝ ȊȐȌȈȝ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȚȈȒȈȧ ȊȖȏȔȖȎȕȖșȚȤ Ȑȝ țȕȐȊȍȘșȈȓȤȕȖȋȖ ȐșȗȖȓȤȏȖȊȈȕȐȧ ȊȖ Ȋșȍȝ ȊȐȌȈȝ ȒȓȈșșȐȟȍșȒȖȋȖ ȒȖȕȕȖȋȖ șȗȖȘȚȈ șȊȧȏȈȕȈ ș ȚȍȔ ȟȚȖ Ȋ ȔȈșșȍ șȊȖȍȑ ȖȕȐ ȐȔȍȦȚ ȕȈȘȧȌȕȣȍ ȗȘȖȌțȒȚȐȊȕȣȍ ȌȊȐȎȍȕȐȧ ȖȚȓȐȟȕȖ ȗȘȣȋȈȦȚ ȊȍșȤȔȈ ȘȍȏȊȣ Ȑ ȊȣȕȖșȓȐȊȣ ǷȘȐ ȗȘȈȊȐȓȤȕȖȔ ȗȖȌȝȖȌȍ Ȓ ȚȘȍȕȐȕȋț ș țȟȨȚȖȔ ȐȕȌȐȊȐȌțȈȓȤȕȣȝ ȖșȖȉȍȕȕȖșȚȍȑ ȒȈȎȌȖȑ ȖȚȌȍȓȤȕȖȑ ȓȖȠȈȌȐ ȓȖȠȈȌȐ ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȣ ȖȉțȟȈȦȚșȧ ȏȕȈȟȐȚȍȓȤȕȖ ȉȣșȚȘȍȍ ȟȍȔ ȓȖȠȈȌȐ ȌȘțȋȐȝ ȚȘȈȌȐȞȐȖȕȕȣȝ șȗȖȘȚȐȊȕȣȝ ȗȖȘȖȌ dzȖȠȈȌȐ ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȣ ȖȟȍȕȤ ȝȖȘȖȠȐ Ȍȓȧ țȟȈșȚȐȧ Ȋ ȚȘȖȍȉȖȘȤȍ Ȑ Ȋ ȥȚȖȔ ȊȐȌȍ șȗȖȘȚȈ ȐȔȍȦȚ ȉȖȓȤȠȐȍ ȗȘȍȐȔțȡȍșȚȊȈ Ȋ șȘȈȊȕȍȕȐȐ ș ȌȘțȋȐȔȐ ȗȖȘȖȌȈȔȐ ȥȚȖ ȊȣȕȖșȓȐȊȖșȚȤ ȘȍȏȊȖșȚȤ ȕȈȘȧȌȕȣȍ ȓȨȋȒȐȍ ȌȊȐȎȍȕȐȧ Ȑ ȗȘȣȋțȟȍșȚȤ ǵȈșȒȖȓȤȒȖ ȧ ȏȕȈȦ ȕȐ Ȋ ȖȌȕȖȑ ȌȘțȋȖȑ ȗȖȘȖȌȍ ȓȖȠȈȌȍȑ Ȋ ȔȐȘȍ ȕȍȚ șȖȍȌȐȕȍȕȐȧ ȥȚȐȝ ȊȣȠȍȕȈȏȊȈȕȕȣȝ ȗȖȓȖȎȐȚȍȓȤȕȣȝ
8
9
ȓȖȠȈȌȧȔ ȚȈȒ ȒȈȒ ȗȖȟȚȐ ȗȖȓȕȖȍ ȖȚșțȚșȚȊȐȍ ț ȕȐȝ ȟȨȓȖȒ Ȑ Ȑȝ ȘȍȌȒȈȧ
,W LV HDV\ WR EUDNH WKH \RXQJ KRUVHV
ȎȐȌȒȈȧ ȋȘȐȊȈ ȒȈȒ ȘȈȏ Ȋ ȟȈșȚȕȖșȚȐ Ȑ șȖȏȌȈȦȚ ȚȖ șȊȖȍȖȉȘȈȏȐȍ Ȑȝ
7KH WDOHV DERXW $KDOWHNHV DUH VWXEERUQ FDQ EH DJJUHVVLYH
ȖȉȡȍȋȖ ȊȐȌȈ Ȑ ȚȐȗȈ ȘȍȏȒȖ ȖȚȓȐȟȈȦȡȍȍ Ȑȝ ȖȚ ȓȖȠȈȌȍȑ ȌȘțȋȐȝ ȗȖȘȖȌ Ȑ
KDYH EDG KHDOWK DUH QRW VWURQJ HQRXJK DQG GR QRW KDYH WKH VWDPLQD WR
ȝȈȘȈȒȚȍȘȕȖȍ ȚȖȓȤȒȖ Ȍȓȧ ȓȖȠȈȌȍȑ ȥȚȖȑ ȗȖȘȖȌȣ Ƕ ȊȒțșȈȝ ȒȖȕȍȟȕȖ ȕȍ șȗȖȘȧȚ ȕȖ Ȕȕȍ ȓȐȟȕȖ ȕȘȈȊȐȚșȧ ȕȍȖȉȣȟȕȣȑ ȊȐȌ ȈȝȈȓȚȍȒȐȕȞȍȊ șȊȧȏȈȕȕȣȑ ș Ȑȝ ȘȍȌȒȖȑ ȋȘȐȊȖȑ Ȑ ȖȚșțȚșȚȊȐȍȔ ț ȕȐȝ ȟȨȓȖȒ Ǫ ȕȍȒȖȚȖȘȣȝ ȜȖȚȖȋȘȈȜȐȧȝ Ǫȣ țȊȐȌȐȚȍ șȚȘȐȎȍȕȕȣȝ ȓȖȠȈȌȍȑ Ȑȝ ȖșȚȘȐȋȓȐ Ȋ ȌȘțȋȐȝ ȝȖȏȧȑșȚȊȈȝ ȗȖșȓȍ ȚȖȋȖ ȒȈȒ ȧ Ȑȝ ȗȘȖȌȈȓ ǵȈȌȍȦșȤ ȥȚȈ ȒȕȐȋȈ ȉțȌȍȚ ȐȕȚȍȘȍșȕȈ Ȍȓȧ ȔȕȖȋȐȝ ȒȖȕȕȖȏȈȊȖȌȟȐȒȖȊ ȐȕȚȍȘȕȈȞȐȖȕȈȓȤȕȖȋȖ ǨȝȈȓȚȍȒȐȕșȒȖȋȖ șȖȖȉȡȍșȚȊȈ Ȉ ȜȖȚȖȋȘȈȜȐȐ ȗȘȍȒȘȈșȕȣȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȌȖșȚȈȊȧȚ ȘȈȌȖșȚȤ ȉȖȓȤȠȖȔț ȒȖȓȐȟȍșȚȊț ȓȦȉȐȚȍȓȍȑ ȓȖȠȈȌȍȑ Ǻ ǷȖȕȚȍȒȖȘȊȖ
SDUWLFLSDWH LQ FODVVLFDO HTXHVWULDQ VSRUWV DQG VLPLODU VWDWHPHQWV GR QRW FRUUHVSRQG ZLWK WKH UHDOLW\ DQG JLYH IDOVH LQIRUPDWLRQ $NKDO 7HNH KRUVHV DUH XQLYHUVDO XQOLNH PDQ\ RWKHU EUHHGV RI KRUVHV DQG RIWHQ WKH VDPH LQGLYLGXDO KRUVH FDQ VXFFHVVIXOO\ SDUWLFLSDWH LQ D YDULHW\ RI FODVVLF HTXHVWULDQ VSRUWV WKH UHDVRQ RI WKH RSSRUWXQLW\ RI WKHLU XQLYHUVDO XVH LQ DOO NLQGV RI FODVVLFDO HTXHVWULDQ VSRUWV LV EHFDXVH RI WKH IDFW WKDW PRVW RI WKHP KDYH DOO WRJHWKHU HOHJDQW SURGXFWLYH PRYHPHQW MXPS SHUIHFWO\ DUH YHU\ IULVN\ DQG KDUG\ :LWK WKH FRQGLWLRQ RI ULJKW ZD\ RI WUDLQLQJ DQG WDNLQJ LQWR DFFRXQW WKH LQGLYLGXDO FKDUDFWHULVWLFV RI HDFK LQGLYLGXDO KRUVH WKH $NKDO 7HNH KRUVHV DUH WUDLQHG PXFK IDVWHU WKDQ RWKHU KRUVHV ZKR EHORQJ WR WKH WUDGLWLRQDO VSRUWLYH EUHHGV $NKDO 7HNH KRUVHV DUH YHU\ JRRG IRU SDUWLFLSDWH LQ D GD\ HYHQWLQJ
AUTHOR’S PREFACE )URP WLOO QRZ IRU PRUH WKDQ \HDUV , KDYH EUHHG $NKDOWHNH KRUVHV DQG KRUVHV RI RWKHU EUHHGV $NKDOWHNH KRUVHV ERUQ LQ P\ IDUPV LQ WKH 8QLWHG 6WDWHV DQG 5XVVLD ZHUH FKDPSLRQV RI 5XVVLD LQ EUHHGLQJ VKRZV DQG ZLQQHUV LQ PDQ\ KLJKHVW UDQNLQJ SUHVWLJLRXV FRPSHWLWLRQV LQ GD\ HYHQWV LQ WKH 8QLWHG 6WDWHV 5XVVLD &DQDGD DQG 0H[LFR , ZDV UHSHDWHGO\ LQYLWHG WR MXGJH WKH $NKDOWHNH KRUVHV LQ WKH EUHHGLQJ ȒȈȟȍșȚȊ Ȑ ȊșȨ ȥȚȖ ȔȖȎȍȚ ȖȉȢȍȌȐȕȧȚȤșȧ Ȋ ȖȌȕȖȑ ȓȖȠȈȌȐ DzȘȖȔȍ ȚȖȋȖ ȕȍȓȤȏȧ ȕȍ șȒȈȏȈȚȤ Ȗȉ țȌȐȊȐȚȍȓȤȕȖȑ
ǵȈȗȘȐȔȍȘ ȔȕȍȕȐȍ Ȗȉ Ȑȝ ȖȚȓȐȟȕȖȑ ȗȘȣȋțȟȍșȚȐ ȉȈȏȐȘțȍȚșȧ ȕȈ
ȈȘȐșȚȖȒȘȈȚȐȟȍșȒȖȑ ȒȘȈșȖȚȍ ȥȚȐȝ ȓȖȠȈȌȍȑ ȟȚȖ ȌȍȓȈȍȚ Ȑȝ ȊȍșȤȔȈ
ȐȕȜȖȘȔȈȞȐȐ ȗȖȓțȟȍȕȕȖȑ ȖȚ ȕȈȗȘȣȋȐȊȈȕȐȧ ȉȖȓȍȍ ȟȍȔ ȔȖȓȖȌȣȝ
ȏȘȍȓȐȡȕȣȔȐ Ȑ ȖȚȓȐȟȈȦȡȐȔȐșȧ ȖȚ ȓȖȠȈȌȍȑ ȌȘțȋȐȝ ȗȖȘȖȌ ȅȚȖ șȊȧȏȈȕȖ
ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ȠȗȘȐȕȋȈȘȚȍȕȍ
ș ȕȍȒȖȚȖȘȣȔȐ ȌȍȚȈȓȧȔȐ Ȑȝ ȚȐȗȈ Ȑ ȥȒșȚȍȘȤȍȘȈ ȒȈȒ ȚȖ ȎȐȌȒȈȧ ȋȘȐȊȈ
Ǫșȍ ȓȖȠȈȌȐ ȗȘȍȌșȚȈȊȓȍȕȕȣȍ Ȋ ȥȚȖȑ ȒȕȐȋȍ ȉȣȓȐ ȘȖȎȌȍȕȣ
Ȑ ȝȊȖșȚ Ȑ ȗȖȟȚȐ ȗȖȓȕȖȍ ȖȚșțȚșȚȊȐȍ ȟȨȓȒȐ ȊȣȗȐȘȈȦȡȈȧ Ȑ ȗȘȐȒȘȣȚȈȧ
Ȑ ȊȣȘȈȡȍȕȣ Ȋ ȔȖȐȝǨȔȍȘȐȒȈȕșȒȖȔ Ȑ ǸȖșșȐȑșȒȐȝ ȒȖȕȏȈȊȖȌȈȝ
ȚȖȕȒȖȑ ȒȖȎȍȑ ȕȈȌȋȓȈȏȕȈȧ ȒȖșȚȤ șțȝȈȧ țȏȒȈȧ Ȑ ȌȓȐȕȕȈȧ ȋȖȓȖȊȈ
ǺȖȓȤȒȖ ȖȌȐȕȖȟȕȣȍ ȒȖȉȣȓȣ ȉȣȓȐ ȗȘȖȌȈȕȣ Ȋ ȌȘțȋȐȍ ȝȖȏȧȑșȚȊȈ țȎȍ
ȊȣșȖȒȐȑ ȊȣȝȖȌ ȠȍȐ ȘȈșȚȧȕțȚȣȑ ȜȖȘȔȈȚ Ȑ ȌȘțȋȐȍ ȖșȖȉȍȕȕȖșȚȐ
ȎȍȘȨȉȣȔȐ Dz șȖȎȈȓȍȕȐȦ ț Ȕȍȕȧ ȕȍȚ ȝȖȘȖȠȐȝ ȜȖȚȖȋȘȈȜȐȑ ȔȕȖȋȐȝ
ǺȈȒȐȍ ȔȖȐ ȔȕȍȕȐȧ șȓȖȎȐȓȐșȤ ȕȍ ȕȈ ȗțșȚȖȔ ȔȍșȚȍ Ȉ ȕȈ ȖșȕȖȊȍ ȘȍȏțȓȤȚȈȚȖȊ ȔȖȍȑ ȔȕȖȋȖȓȍȚȕȍȑ ȗȘȈȒȚȐȟȍșȒȖȑ ȘȈȉȖȚȣ ș ȉȖȓȤȠȐȔ ȒȖȓȐȟȍșȚȊȖȔ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȅȚȐ ȘȍȏțȓȤȚȈȚȣ Ȋ șȊȧȏȐ ș ȉȖȓȤȠȐȔ ȒȖȓȐȟȍșȚȊȖȔ ȓȖȠȈȌȍȑ șȚȈȚȐșȚȐȟȍșȒȐ ȖȉȖșȕȖȊȈȕȣ Ȑ
10
ȗȖȥȚȖȔț ȕȈȌȨȎȕȣ
ȌȘțȋȐȝ ȔȖȐȝ ȌȖșȚȖȑȕȣȝ ȓȖȠȈȌȍȑ Ǫșȍ ȗȓȍȔȍȕȕȣȍ ȗȖȌȉȖȘȣ Ȍȓȧ ȗȖȓțȟȍȕȐȧ ȥȚȐȝ ȓȖȠȈȌȍȑ ȖșȕȖȊȈȕȕȣȍ ȕȈ ȔȖȐȝ șȍȓȍȒȞȐȖȕȕȣȝ ȐȌȍȧȝ ȗȘȍȌȓȖȎȍȕȣ ȔȕȖȑ ȇ ȕȍ ȗȖȏȊȖȓȧȓ șȚȘȐȟȤ ȋȘȐȊȣ Ȑ ȟȨȓȒȐ șȊȖȐȔ ȈȝȈȓȚȍȒȐȕșȒȐȔ
VKRZV LQ GL̆HUHQW FRXQWULHV 0\ DUWLFOHV ZHUH SXEOLVKHG LQ YDULRXV MRXUQDOV DQG DUH DERXW EUHHGLQJ DQG WUDLQLQJ WKH $NKDOWHNH KRUVHV XVLQJ LQ WUDLQLQJ WKH VKSULQJDUWHQV DQG RWKHU %ULHÀ\ KHUH DUH VRPH FRQFOXVLRQV EDVHG RQ WKH UHVXOWV RI P\ \HDUV ZRUNLQJ ZLWK KRUVHV RI WKH $NKDOWHNH EUHHG )LUVW RI DOO ZKHQ , IRU WKH ¿UVW WLPH VHH VRPH $NKDOWHNH KRUVH , ZDV VWUXFN EHFDXVH RI WKHLU RULJLQDO DQG XQXVXDO H[WHULRU DQG EULJKW VW\OH $V , ZDV LQFUHDVLQJ WKH QXPEHU RI $NKDO 7HNH KRUVHV LQ P\ KHUG DQG ZDV FRPSDULQJ WKHP ZLWK WKH KRUVHV ZKR EHORQJ WR WKH RWKHU NQRZQ LQ WKH ZRUOG EUHHGV , FDPH WR WKH IROORZLQJ FRQFOXVLRQV $NKDO 7HNH KRUVHV KDYH D YHU\ VWURQJ IUDPH DQG UDUHO\ JHW VLFN 0DUHV HDVLO\ JHW SUHJQDQW SUREOHPV ZLWK WKDW DUH UDUH
VSRUW EHFDXVH WKH\ KDYH JUHDW DGYDQWDJHV LQ FRPSDULQJ ZLWK RWKHUV±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
11
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
DzȖȉ ǽȊȖȧ ǶșȔȈȕ ǽȈȕȉȐȉȐ ȓȐȕȐȐ ǫȍȓȐȠȐȒȓȐ ș ȎȍȘȍȉȨȕȒȖȔ ǼȖȚȖ Dz Ǯ ǹȚȐȊȈȘȚ ǵȈ ȥȚȖȔ ȜȖȚȖ ț ȓȖȠȈȌȐ ȊȐȌȕȈ ȚȐȗȐȟȕȈȧ Ȍȓȧ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȘȍȌȒȈȧ ȋȘȐȊȈ 0DUH +YRLD 2VPDQ +DQELEL ZLWK KHU IRDO 3KRWR . - 6WHZDUW ,Q WKLV SKRWR \RX FDQ VHH D W\SLFDO IRU WKH $NKDOWHNH KRUVHV WKLQ PDQH
ǵȈ ȥȚȖȔ ȜȖȚȖ ț ȓȖȠȈȌȍȑ ȊȐȌȕȖ ȚȐȗȐȟȕȖȍ Ȍȓȧ ȈȝȈȓȚȍȒȐȕȞȍȊ ȗȖȟȚȐ ȗȖȓȕȖȍ ȖȚșțȚșȚȊȐȍ ȟȨȓȖȒ ,Q WKLV SKRWR FDQ EH VHHQ W\SLFDO IRU $NKDOWHNHV DOPRVW FRPSOHWH DEVHQFH RI IXUORFNV
12
13
ǮȍȘ ǩȈȘȝȈȕ ȓȐȕȐȧ ǼȈȒȐȘ ǷȍȓȤȊȈȕȈ ȜȖȚȖ Ƕ ǰȚȐȕȖȑ 6WDOOLRQ %DUKDQ )DNLU 3HOYDQ OLQH SKRWR 2 ,WLQD
ʞʟʔʠ ʡ ʗ ʕ ʚʝʧ ʏ ʓʔʘ ʏ ʤ ʏ ʚ ʡ ʔʙʗʜʠʙʝʘ ʞʝʟʝʓʪ ʗ ʞʢ ʡ ʗ ʔʒʝ ʞʝʑʪʧʔʜʗʮ ǨȝȈȓȚȍȒȐȕșȒȈȧ ȗȖȘȖȌȈ ȓȖȠȈȌȍȑ ȌȘȍȊȕȍȑȠȈȧ Ȑȏ ȒțȓȤȚțȘȕȣȝ
ǪȣȠȍ ȗȘȐȊȍȌȨȕȕȣȍ ȜȈȒȚȣ Ȗȉ ȐșȗȖȓȤȏȖȊȈȕȐȐ ȈȝȈȓȚȍȒȐȕșȒȐȝ
ȗȖȘȖȌ Ȑ ȍȨ ȊȓȐȧȕȐȍ ȕȈ ȒȖȕȍȊȖȌșȚȊȖ ȊȖ ȊșȨȔ ȔȐȘȍ ȖȋȘȖȔȕȖ ǹ
ȎȍȘȍȉȞȖȊ ȗȘȐ ȊȣȊȍȌȍȕȐȐ ȐȏȊȍșȚȕȣȝ ȊșȍȔț ȔȐȘț ȕȖȊȣȝ ȗȖȘȖȌ
ȐșȗȖȓȤȏȖȊȈȕȐȍȔ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȎȍȘȍȉȞȖȊ ȕȈ ȔȍșȚȕȣȝ ȔȈȚȒȈȝ
ȓȖȠȈȌȍȑ Ȑ ȖȚȓȐȟȕȣȍ ȝȈȘȈȒȚȍȘȐșȚȐȒȐ ț ȗȖȔȍșȕȣȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ
ȖȉȘȈȏȖȊȈȓȐșȤ șȓȍȌțȦȡȐȍ ȕȖȊȣȍ ȗȖȘȖȌȣ Ȋ ǨȕȋȓȐȐ ȟȐșȚȖȒȘȖȊȕȈȧ
ȓȖȠȈȌȍȑ Ȋ ȕȈșȚȖȧȡȍȍ ȊȘȍȔȧ ȗȖȏȊȖȓȧȦȚ ȕȈȔ țȚȊȍȘȎȌȈȚȤ ȟȚȖ
ȈȕȋȓȐȑșȒȈȧ Ȋ ǭȊȘȖȗȍ ȚȘȈȒȍȕȍȕșȒȈȧ Ȑ ȋȈȕȕȖȊȍȘșȒȈȧ Ȋ ǸȖșșȐȐ
ȈȝȈȓȚȍȒȐȕȍȞ țȕȐȒȈȓȤȕȣȑ țȓțȟȠȈȚȍȓȤ ȗȘȐ ȘȈȏȊȍȌȍȕȐȐ ș ȌȘțȋȐȔȐ
ȒȈȘȈȉȈȝșȒȈȧ ȓȖȒȈȑșȒȈȧ ȒȈȘȈȉȈȐȘșȒȈȧ ȒȈȉȈȘȌȐȕșȒȈȧ ȌȖȕșȒȈȧ
ȗȖȘȖȌȈȔȐ ȓȖȠȈȌȍȑ
ȖȘȓȖȊșȒȈȧ ȘȣșȐșȚȈȧ Ȑ ȌȘ
14
ǺȘȈȌȐȞȐȖȕȕȖ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ǺțȘȒȔȍȕȐșȚȈȕȍ Ȑ
DzȖȋȌȈ ȧ șȖȌȍȘȎȈȓ ȓȖȠȈȌȍȑ ȚȖȓȤȒȖ Ȋ ǸȖșșȐȐ ț Ȕȍȕȧ ȉȣȓȈ
ǸȖșșȐȐ ȚȘȍȕȐȘțȦȚ Ȍȓȧ țȟȈșȚȐȧ Ȋ ȋȓȈȌȒȐȝ șȒȈȟȒȈȝ Ȑ ȗȖȥȚȖȔț
ȌȖșȚȈȚȖȟȕȖ ȉȖȓȤȠȈȧ ȋȘțȗȗȈ ȔȈȚȖȒ ȋȖȓȖȊ ȗȖȓțȒȘȖȊȕȣȝ ȗȖȘȖȌ
ȚȖȓȤȒȖ ȘȍȌȒȐȍ ȖșȖȉȐ ȗȖȗȈȌȈȓȐ Ȋ ȉȖȓȤȠȖȑ ȒȖȕȕȣȑ șȗȖȘȚ Ȑ
ȚȘȈȒȍȕȍȕșȒȖȑ ȚȍȘșȒȖȑ ȖȘȓȖȊșȒȖȑ ȘȣșȐșȚȖȑ ȈȕȋȓȖȘȣșȐșȚȖȑ
ȐȔȍȕȕȖ ȗȖȥȚȖȔț Ȗ ȊȖȏȔȖȎȕȣȝ șȗȖșȖȉȕȖșȚȧȝ ȥȚȐȝ ȓȖȠȈȌȍȑ Ȋ
ǫȈȕȕȖȊȍȘșȒȖȑ Ȑ ȌȘ ȇ ȗȍȘȍȒȘȣȊȈȓ ȥȚȐȝ ȔȈȚȖȒ ȟȐșȚȖȒȘȖȊȕȣȔȐ
ȒȓȈșșȐȟȍșȒȐȝ ȊȐȌȈȝ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȉȣȓȖ ȔȈȓȖ ȟȚȖ ȐȏȊȍșȚȕȖ ǺȍȔ
ȈȝȈȓȚȍȒȐȕșȒȐȔȐ ȎȍȘȍȉȞȈȔȐ Ȑ ȗȖȓțȟȈȓ ȒȘțȗȕȣȝ ȖȟȍȕȤ șȗȖșȖȉȕȣȝ
ȕȍ Ȕȍȕȍȍ Ǫ ȐșȚȖȘȐȐ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȗȖȧȊȓȧȓȐșȤ ȊȣșȖȟȈȑȠȍȋȖ
Ȓ țȟȈșȚȐȦ Ȋ ȘȈȏȕȣȝ ȊȐȌȈȝ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȗȖȘȖȌȕȣȝ ȓȖȠȈȌȍȑ
ȒȓȈșșȈ ȈȝȈȓȚȍȒȐȕșȒȐȍ ȓȖȠȈȌȐ Ȑ Ȑȝ ȉȣȓȖ ȕȍ ȚȈȒ țȎ ȔȈȓȖ Ȑ Ȋ
ǶȌȕȈ Ȑȏ ȥȚȐȝ ȓȖȠȈȌȍȑ ȎȍȘȍȉȍȞ ǩțȋȈȘ ǩȍȌțȐȕ ȟȐșȚȖȒȘ ȈȝȈȓȚ
ȗȘȖȠȓȖȔ Ȑ Ȋ ȕȈșȚȖȧȡȍȍ ȊȘȍȔȧ ǵȍ ȉțȌȍȔ ȊșȗȖȔȐȕȈȚȤ Ȗ ȗȘȖȠȓȖȔ
ǫȊȖȏȌȐȒȈ ȈȕȋȓȖ Șȣș ȗȖȌ șȍȌȓȖȔ Ǩ ǸȖȏȈȕȖȊȈ șȚȈȓȈ ȖȌȕȖȑ Ȑȏ
Ȉ ȉțȌȍȔ ȋȖȊȖȘȐȚȤ Ȗ șȖȊȘȍȔȍȕȕȣȝ ȓȖȠȈȌȧȝ ȗȖȒȈȏȈȊȠȐȝ ȝȖȘȖȠȐȍ
ȓțȟȠȐȝ ȚȘȖȍȉȖȘȕȣȝ ȓȖȠȈȌȍȑ ǸȖșșȐȐ
ȘȍȏțȓȤȚȈȚȣ Ȋ ȊȣșȖȒȖȋȖ țȘȖȊȕȧ ȒȖȕȕȖșȗȖȘȚȐȊȕȣȝ șȖȘȍȊȕȖȊȈȕȐȧȝ
Ǫ ǨȔȍȘȐȒȍ ȧ ȗȖȒȘȣȓ ȕȍșȒȖȓȤȒȖ ȒȊȖȚȍȘȝȖȘș ȔȈȚȖȒ ȈȝȈȓȚȍȒȐȕșȒȐȔ
Ǫ ȟȈșȚȕȖșȚȐ Ȋ ȕȍȌȈȓȨȒȖȔ ȗȘȖȠȓȖȔ ț Ȕȍȕȧ ȗȖȌ șȍȌȓȖȔ șȐȓȤȕȖȋȖ
ȎȍȘȍȉȞȖȔ ǴȈȘțȒȖȔ ǴțȕȐȘ ǨȚȈȒȈ ȓȐȕȐȐ ǨȒșȈȒȈȓȈ Ȑ ȗȖȓțȟȐȓ
ȋȘțȏȐȕșȒȖȋȖ ȚȘȍȕȍȘȈ Ȑ șȗȖȘȚșȔȍȕȈ Ǭ ǺȖȗțȘȐȧ ȖȚȓȐȟȕȖ ȗȘȣȋȈȓȐ
ȕȈȘȧȌȕȣȝ ȓȖȠȈȌȍȑ ș ȗȘȍȒȘȈș ȕȣȔȐ ȌȊȐȎȍȕȐȧȔȐ ȒȘȖȔȍ ȚȖȋȖ Ȋ
ȎȍȘȍȉȍȞ ǩȍȌțȐȕ ȖȚ ǬȖȘȕȈȏȈȘȉȍȒȈ ȓȐȕȐȐ ǫȍȓȐȠȐȒȓȐ ȎȍȘȍȉȍȞ
ǨȔȍȘȐȒȍ ȐȔȍȍȚșȧ ȋȘțȗȗȈ ȓȖȠȈȌȍȑ ȗȖȔȍșȕȣȝ ș ȈȘȈȉșȒȖȑ ȗȖȘȖȌȖȑ
ǩțȧȕ ǩȍȌțȐȕ ȇȋȚȣ ȓȐȕȐȐ ǫȍȓȐȠȐȒȓȐ Ȑ ȎȍȘȍȉȍȞ ǫȐȋȈȕȚ ȓȐȕȐȐ
ȓȖȠȈȌȐ ȒȘȈșȐȊȣȍ ȌȖșȚȈȚȖȟȕȖ ȒȘțȗȕȣȍ ș ȝȖȘȖȠȐȔ ȥȒșȚȍȘȤȍȘȖȔ Ȑ
ǫțȕȌȖȋȈȘȈ ǪȗȖșȓȍȌșȚȊȐȐ Ȏ ǩțȧȕ ȗȍȘȍȠȨȓ Ȓ ȟȓȍȕț șȉȖȘȕȖȑ ǸȖșșȐȐ
ȖȚȓȐȟȕȣȔȐ ȌȊȐȎȍȕȐȧȔȐ
Ȑ ȖȚȓȐȟȕȖ ȊȣșȚțȗȈȓ ȊȖ ȊșȍȊȖȏȔȖȎȕȣȝ șȖȘȍȊȕȖȊȈȕȐȧȝ ȗȖ ȒȖȕȒțȘț
ǵȍȖȉȝȖȌȐȔȖ ȖȚȔȍȚȐȚȤ ȟȚȖ ȊȖ Ȋșȍȝ ȥȚȐȝ ȘȈȏȕȣȝ ȗȖȔȍșȧȝ
DzȘȖȔȍ ȚȖȋȖ ȖȚ Ȕȍȕȧ ȗȖȗȈȓȐ Ȓ Ǩ ǸȖȏȈȕȖȊț Ȑ Ƕ ǩȖȘȐșȍȕȒȖ Ȏ ǩțȋȈȘ
ȟțȊșȚȊțȍȚșȧ ȌȖȔȐȕȈȕȚȕȖșȚȤ ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȣ Ȋ ȕȐȝ ȟȨȚȒȖ
ȖȚ ǩȍȌțȐȕȈ Ȑ Ȓ ǫȈȓȈȔȉȐȧ ǴȍȓȍșțȘ ǫȈȓȈȚȍȧ ȓȐȕȐȐ ǹȖȊȝȖȏȈ ±
ȗȘȖȋȓȧȌȣȊȈȦȚșȧ ȕȍȒȖȚȖȘȣȍ șȗȍȞȐȜȐȟȍșȒȐȍ ȌȍȚȈȓȐ ȝȈȘȈȒȚȍȘȕȣȍ
Ȗȉȍ ȥȚȐ ȓȖȠȈȌȐ ȗȘȍȒȘȈșȕȖ ȊȣșȚțȗȈȓȐ Ȋ ȚȘȖȍȉȖȘȤȍ ǩțȋȈȘ ȍȡȨ
ȚȖȓȤȒȖ Ȍȓȧ ȈȝȈȓȚȍȒȐȕșȒȖȋȖ ȚȐȗȈ Ȑ ȥȒșȚȍȘȤȍȘȈ
ȊȣșȚțȗȈȍȚ Ȑ ȏȈȕȐȔȈȓȐ ȟȍȔȗȐȖȕșȒȐȍ ȚȐȚțȓȣ Ȋ șȈȔȖȋȖ ȊȣșȖȒȖȋȖ
15
ȘȈȕȋȈ ȕȈȞȐȖȕȈȓȤȕȣȝ Ȑ ȔȍȎȌțȕȈȘȖȌȕȣȝ șȖȘȍȊȕȖȊȈȕȐȧȝ Ǫ ǹȀǨ
ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȌȘțȋȐȝ ȓȐȕȐȑ ȔȖȎȕȖ șȒȈȏȈȚȤ ȚȖ Ȏȍ
ȓȖȠȈȌȐ ȐȔȍȦȡȐȍ ȒȈȌȣȒȈșȚțȦ ȠȍȦ ȕȍ
șȖ ȔȕȖȑ ȘȈȉȖȚȈȓ ȟȓȍȕ șȉȖȘȕȖȑ ǸȖșșȐȐ ȗȖ ȚȘȖȍȉȖȘȤȦ Ƿ ǹȍȘȋȍȍȊ
șȈȔȖȍ Ȗ ȓȐȕȐȐ ǫȍȓȐȠȐȒȓȐ ǩțȧȕ ǨȘȉȈȓȍȚ ǫȐȋȈȕȚ ǩȍȌțȐȕ ǨȓȟȈȒ
ȔȖȋțȚ ȗȘȣȋȈȚȤ ȚȈȒ ȒȈȒ ț ȕȐȝ ȧȒȖȉȣ ȕȍȚ
ǷȖȌ ȍȋȖ șȍȌȓȖȔ ȔȖȓȖȌȣȍ ȓȖȠȈȌȐ Ȏ ǨȘȉȈȓȍȚ ǨȔȍȓȐȚ ǨȉȘȈȑ
ȓȐȕȐȐ ǷȍȘȍȕȈ ǷȈȌȐȠȈȝ ȓȐȕȐȐ ǹȖȊȝȖȏȈ Ȓ ǫȈȓȈȔȉȐȧ ǽȍȓȔ
ȊȖȏȔȖȎȕȖșȚȐ ȗȘȐ ȗȘȣȎȒȍ ȍȨ ȊȣȚȧȋȐȊȈȚȤ
ȓȐȕȐȐ ǫȍȓȐȠȐȒȓȐ Ȏ ǫȘȍȋțȈȘ ǫȐȋȈȕȚ ǫȍȒȓȈ ȓȐȕȐȐ ǫțȕȌȖȋȈȘȈ
ȓȐȕȐȐ DzȈȘȓȈȊȈȟȈ DzȖȠȐȓȐ DzȖȋȈȕ ȓȐȕȐȐ ǹȒȈȒȈ ȖșȕȖȊȣȊȈȧșȤ
Ȑȏ ȏȈ țȏȒȖȑ ȋȘțȌȕȖȑ ȒȓȍȚȒȐ ȟȚȖ ȟȈșȚȖ
Ȑ Ȏ DzȖȋȈȕ DzȖȠȐȓȐ ǫȍȘȍȓȤ ȓȐȕȐȐ DzȈȘȓȈȊȈȟȈ ȏȈȕȐȔȈȓȐ Ȋ ǷȈȕ
ȕȈ țșȗȍȠȕȣȝ ȊȣșȚțȗȓȍȕȐȧȝ Ȋ ȚȘȖȍȉȖȘȤȍ Ȋ ǹȀǨ ȓȖȠȈȌȍȑ Ǽ
ȉȣȊȍȚ ț ȈȝȈȓȚȍȒȐȕȞȍȊ ț ȓȖȠȈȌȍȑ ȕȍ ȉțȌȍȚ
ǨȔȍȘȐȒȈȕșȒȐȝ șȖȘȍȊȕȖȊȈȕȐȧȝ ȗȖ ȒȖȕȒțȘț Ȋ ǴȍȒșȐȒȍ ȋ ǴȖȕȚȍȘȘȍȑ
DzȍȑșȈ ȧ ȕȍ ȊȓȈȌȍȦ ȌȍȚȈȓȤȕȖȑ ȐȕȜȖȘȔȈȞȐȍȑ ȕȖ ȐȏȊȍșȚȕȖ ȟȚȖ
ȝȊȈȚȈȚȤ ȊȣȕȖșȓȐȊȖșȚȐ ȕȈ ȒȘȖșșȍ Ȑ ȔȕȖȋȐȍ
Ȋ ȋȖȌț ȓȐȌȐȘțȦȡȐȍ ȔȍșȚȈ Ȋ ȥȚȐȝ șȖȘȍȊȕȖȊȈȕȐȧȝ țȟȈșȚȊȖȊȈȓȖ
Ȋ DzȈȏȈȝșȚȈȕȍ Ȑ DzȐȘȋȐȏșȚȈȕȍ ȈȝȈȓȚȍȒȐȕșȒȐȍ ȓȖȠȈȌȐ ȘȈȏȓȐȟȕȣȝ
ȌȘțȋȐȍ ȚȖȔț ȗȖȌȖȉȕȣȍ ȕȍȖȉȢȍȒȚȐȊȕȣȍ
ȉȖȓȍȍ ȔȖȓȖȌȣȝ ȓȖȠȈȌȍȑ Ȑȏ ȘȈȏȕȣȝ șȚȘȈȕ ȔȐȘȈ ǪșȒȖȘȍ ȧ ȖȚȌȈȓ
ȓȐȕȐȑ ȚȈȒȎȍ ȌȖșȚȐȋȈȓȐ ȊȣșȖȒȐȝ șȗȖȘȚȐȊȕȣȝ ȘȍȏțȓȤȚȈȚȖȊ ȒȘȖȔȍ
ȊȍȡȐ Ǩ ȈȝȈȓȚȍȒȐȕȞȣ ȚȍȔ ȕȍ Ȕȍȕȍȍ
Ȏ DzȖȋȈȕȈ Ȋ ȚȘȍȕȐȕȋ Ȓ ȊȍȌțȡȍȑ ȒȖȕȒțȘȐșȚȒȍ ǹȀǨ ǹ ǽȈȚȟȐșȖȕ Ȑ
ȚȖȋȖ ȗȘȐȊȍȌȨȕȕȣȍ ȊȣȠȍ ȘȍȏțȓȤȚȈȚȣ ȕȈȗȘȣȋȐȊȈȕȐȧ ȓȖȠȈȌȍȑ
ȕȍȊȏȐȘȈȧ ȕȈ ȚȈȒ ȕȈȏȣȊȈȍȔȣȍ ©ȔȐȕțșȣª Ȋ
ȖȕȐ ȊȣȐȋȘȈȓȐ ȔȕȖȋȖ ȚȐȚțȓȖȊ Ȋ ȊȍșȤȔȈ ȗȘȍșȚȐȎȕȣȝ șȖȘȍȊȕȖȊȈȕȐȧȝ
Ȋ ȠȗȘȐȕȋȈȘȚȍȕȍ ȗȖȒȈȏȣȊȈȦȚ ȉȖȓȤȠȖȑ șȗȖȘȚȐȊȕȣȑ ȗȖȚȍȕȞȐȈȓ
șȊȖȍȑ ȒȖȕșȚȐȚțȞȐȐ ȗȘȖȌȖȓȎȈȦȚ ȖȚȓȐȟȕȖ
Ȋ DzȈȓȐȜȖȘȕȐȐ DzȘȖȔȍ ȚȖȋȖ ȗȖȌ Ƿ ǹȍȘȋȍȍȊȣȔ ȖȚȓȐȟȕȖ ȗȘȣȋȈȓȐ
ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȗȘȐȕȈȌȓȍȎȈȡȐȔ Ȓ ȘȈȏȓȐȟȕȣȔ ȓȐȕȐȧȔ
țȟȈșȚȊȖȊȈȚȤ Ȋ ȒȖȕȒțȘȈȝ Ȑ ȚȘȖȍȉȖȘȤȍ
Ȏ ǫȘȖȔ ǫȐȋȈȕȚ ǴȐȗȗȈ ȓȐȕȐȐ ǫțȕȌȖȋȈȘȈ Ȑ Ȏ ǽȍȓȔ ǴȍȓȍșțȘ
ȇ țȉȍȎȌȨȕ Ȋ ȚȖȔ ȟȚȖ ȕțȎȕȖ ȋȖȊȖȘȐȚȤ Ȗȉ ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȍ
ǵȍȖȉȢȍȒȚȐȊȕȖșȚȤ DzȖȕȕȖȏȈȊȖȌȟȐȒȐ
ǽȈȕȉȐȉȐ ȓȐȕȐȐ ǹȖȊȝȖȏȈ Ȋ ȗȖșȓȍȌșȚȊȐȐ ǽȍȓȔ ȌȖșȚȐȋ ȊȣșȖȒȐȝ
ȓȖȠȈȌȍȑ Ȋ ȞȍȓȖȔ ȒȈȒ Ȗȉ ȗȖȘȖȌȍ ȓȖȠȈȌȍȑ ȗȖȒȈȏȈȊȠȐȝ ȗȘȍȒȘȈșȕȣȍ
Ȑ șȗȖȘȚșȔȍȕȣ țȎȍ ȊȓȖȎȐȊȠȐȍ șȊȖȐ
ȘȍȏțȓȤȚȈȚȖȊ Ȋ ȊȣȍȏȌȒȍ
ȘȍȏțȓȤȚȈȚȣ ȊȖ Ȋșȍȝ ȊȐȌȈȝ ȒȓȈșșȐȟȍșȒȖȋȖ șȗȖȘȚȈ ȕȍȏȈȊȐșȐȔȖ ȖȚ
ȥȕȍȘȋȐȦ Ȑ ȌȍȕȤȋȐ Ȋ ȓȖȠȈȌȍȑ ȒȈȒȖȑ ȓȐȉȖ
ȗȘȐȕȈȌȓȍȎȕȖșȚȐ Ȓ ȚȖȑ ȐȓȐ ȐȕȖȑ ȓȐȕȐȐ
ȌȘțȋȖȑ ȗȖȘȖȌȣ ȉțȌțȚ ȏȈȡȐȡȈȚȤ șȊȖȐ
ǽȖȚȍȓȖșȤ ȉȣ ȗȖȌȍȓȐȚȤșȧ ȕȍȒȖȚȖȘȣȔȐ ȜȈȒȚȈȔȐ ȊȖȏȕȐȒȠȐȔȐ Ȋ ȘȍȏțȓȤȚȈȚȈ ȔȖȍȑ ȘȈȉȖȚȣ Ȋ ȚȍȟȍȕȐȍ ȓȍȚ Ȋ ǸȖșșȐȐ Ȑ ǹȀǨ ȗȘȐ
ǰȚȈȒ ȖȗȐȘȈȧșȤ ȕȈ ȘȍȈȓȐȐ Ȗȉ ȕȍȊȍȘȖȧȚȕȣȝ țșȗȍȝȈȝ ȗȘȐ
ȕȈȗȘȣȋȐȊȈȕȐȐ ȔȖȓȖȌȣȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ȠȗȘȐȕȋȈȘȚȍȕȍ
ȊȣȊȍȌȍȕȐȐ ȕȖȊȣȝ ȗȖȘȖȌ ș ȐșȗȖȓȤȏȖȊȈȕȐȍȔ ȈȝȈȓȚȍȒȐȕșȒȐȝ
ȕȍȌȖșȚȈȚȒȐ Ȋ ȕȍȐȏȊȍșȚȕȣȝ Ȑ ȗȖȚȍȕȞȐȈȓȤȕȖ
Ȑ ȗȖȚȖȔ ȗȖȌ șȍȌȓȖȔ
ȎȍȘȍȉȞȖȊ Ȋ ȔȐȘȖȊȖȔ ȒȖȕȕȖȏȈȊȖȌșȚȊȍ ȕȈ ȜȍȕȖȔȍȕȈȓȤȕȣȍ
ȒȖȕȒțȘȍȕȚȕȣȝ Ȍȓȧ ȕȐȝ ȗȖȘȖȌȈȝ
ȕȈȝȖȌȧ
ȕȍșțȡȍșȚȊțȦȡȐȍ
Ǫ ȗȍȘȐȖȌ ș ȋ ȗȖ ȋ Ȋ ǸȖșșȐȐ Ȑ ǹȀǨ ȧ ȊȓȈȌȍȓ ȉȖȓȍȍ
ȘȍȏțȓȤȚȈȚȣ ȖȚȌȍȓȤȕȣȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ǩȖȓȤȠȖȔ
ǷȖȟȚȐ
ȟȍȔ ȓȖȠȈȌȤȔȐ ǭȎȍȋȖȌȕȖ ȗȘȖȐȏȊȖȌȐȓȖșȤ ȎȍȘȍȉȧȚ Ǫ
șȗȖȘȚȍ ȕȈ șȚȈȚȐșȚȐȟȍșȒȐȍ ȌȈȕȕȣȍ Ȗ ȕȈȗȘȣȋȐȊȈȕȐȐ ȔȖȓȖȌȣȝ
ȐȕȜȖȘȔȈȚȐȊȕȖȋȖ
ȊȖȏȘȈșȚȍ ȓȍȚ Ȋșȍ ȉȍȏ ȐșȒȓȦȟȍȕȐȧ ȎȍȘȍȉȧȚȈ ȕȈȗȘȣȋȐȊȈȓȐșȤ Ȋ
ȈȝȈȓȚȍȒȐȕșȒȐȝ
ȔȈȚȍȘȐȈȓȈ ȉȈȏȐȘțȦȡȍȋȖșȧ ȕȈ ȘȍȈȓȤȕȣȝ
ȠȗȘȐȕȋȈȘȚȍȕȍ ǷȖșȓȍ ȚȘȨȝ ȔȍșȧȟȕȖȑ ȘȈȉȖȚȣ Ȋșȍ ȖȕȐ ȓȍȋȒȖ ȗȘȣȋȈȓȐ
Ȑȝ ȊȍȓȐȒȖȓȍȗȕȣȍ ȗȘȣȎȒȖȊȣȍ șȗȖșȖȉȕȖșȚȐ ȔȖȎȕȖ ȉȣȓȖ ȉȣ
ȗȘȈȒȚȐȟȍșȒȐȝ
Ȕ FȔ Ȋ ȠȗȘȐȕȋȈȘȚȍȕȍ Ȉ șȚȈȘȠȐȍ Ȑ ȗȖȌ șȍȌȓȖȔ ȒȖȋȌȈ ȊȣșȖȚȈ
ȖȎȐȌȈȚȤ ȊȣșȖȒȐȑ ȘȍȑȚȐȕȋ ȥȚȐȝ ȓȖȠȈȌȍȑ Ȋ ȐȕȚȍȘȕȈȞȐȖȕȈȓȤȕȖȔ
ȓȖȠȈȌȍȑ Ȋ ȘȈȏȕȣȝ ȊȐȌȈȝ șȗȖȘȚȈ Ȑ
ȐșȗȖȓȤȏȖȊȈȕȐȍȔ ȒȖȚȖȘȣȝ ȓȍȋȒȖ ȔȖȎȕȖ ȖȗȘȍȌȍȓȐȚȤ ȗȘȣȎȒȖȊȣȑ
ȗȘȍȗȧȚșȚȊȐȑ ȗȖȊȣȠȈȓȈșȤ ȌȖ Ȕ șȔ ȎȍȘȍȉȧȚ ȖȚȒȈȏȣȊȈȓȐșȤ
ȒȖȕȕȖȔ ȔȐȘȍ ǵȖ ȕȈ șȈȔȖȔ Ȍȍȓȍ ȥȚȖȋȖ ȕȍȚ ǷȖȟȍȔț Ȏȍ ȗȘȍșȚȐȎ
ȊȣȊȖȌȒȈȝ ȗȓȍȔȍȕȕȖȋȖ ȘȈȏȊȍȌȍȕȐȧ ȊȍȚȍȘȐȕȈȘȕȣȝ ȐșșȓȍȌȖȊȈȕȐȑ Ȑ
ȗȖȚȍȕȞȐȈȓ ȒȈȎȌȖȑ ȖȚȌȍȓȤȕȖȑ ȓȖȠȈȌȐ Ȑ ȊȣȌȍȓȐȚȤ șȈȔȣȝ
ȉȘȈȚȤ ȥȚț ȊȣșȖȚț ȖșȚȈȊȠȐȍșȧ ȓȖȠȈȌȍȑ ȔȖȋȓȐ ȗȘȍȖȌȖȓȍȊȈȚȤ
ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ȗȘȖȜȍșșȐȖȕȈȓȤȕȖȔ ȒȖȕȕȖșȗȖȘȚȐȊȕȖȔ
ȌȘ ǷȘȈȒȚȐȟȍșȒȐ ȍȌȐȕșȚȊȍȕȕȖ șțȡȍșȚȊțȦȡȐȔ șȍȘȤȨȏȕȣȔ ȐȏȌȈȕȐȍȔ
ȗȍȘșȗȍȒȚȐȊȕȣȝ Ȍȓȧ șȗȖȘȚȈ
ȗȘȍȗȧȚșȚȊȐȧ ȊȣșȖȚȖȑ Ȕ șȔ ȍșȓȐ Ȏȍ ȧ ȗȘȖȌȖȓȎȈȓ ȗȖȊȣȠȈȚȤ
Ȑ ȒȖȕȕȖȏȈȊȖȌșȒȖȔ șȖȖȉȡȍșȚȊȈȝ ȕȍȊȣșȖȒ Ȑ ȕȍ șȖȖȚȊȍȚșȚȊțȍȚ
ȠȐȘȖȒȖ ȐȏȊȍșȚȕȣȔ Ȋ ȔȐȘȍ Ȑ ȖșȊȍȡȈȍȔȣȔ ȊșȍȊȖȏȔȖȎȕȣȍ ȈșȗȍȒȚȣ
ȊȣșȖȚț ȖșȚȈȊȈȓȖșȤ ȕȍȔȕȖȋȐȔ Ȕȍȕȍȍ ȓȖȠȈȌȍȑ ȗȘȣȋȈȦȡȐȝ
ȔȕȖȋȖȒȘȈȚȕȖ ȗȖȌȚȊȍȘȎȌȨȕȕȣȔ ȊȣșȖȒȐȔ șȗȖȘȚȐȊȕȣȔ Ȑ ȗȓȍȔȍȕȕȣȔ
șȊȧȏȈȕȕȣȍ ș ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȖȑ ȓȖȠȈȌȍȑ ȧȊȓȧȍȚșȧ ȎțȘȕȈȓ
ȟȍȘȍȏ ȌȍȑșȚȊȐȚȍȓȤȕȖ ȊȣșȖȒȐȍ ȗȘȍȗȧȚșȚȊȐȧ ȅȚȐ ȘȍȈȓȤȕȣȍ ȜȈȒȚȣ
ȒȈȟȍșȚȊȈȔ ȥȚȐȝ ȓȖȠȈȌȍȑ" Ǫ ȟȨȔ Ȏȍ ȗȘȐȟȐȕȣ ȥȚȖȋȖ ȕȍșȖȖȚȊȍȚșȚȊȐȧ"
©ǨȝȈȓȚȍȒȍǰȕȜȖȘȔª ȐȏȌȈȊȈȍȔȣȑ Ȇ DzțȏȕȍȞȖȊȖȑ
ȖșȕȖȊȈȕȕȣȍ ȕȈ ȘȍȏțȓȤȚȈȚȈȝ ȕȈȗȘȣȋȐȊȈȕȐȧ ȖȒȖȓȖ ȓȖȠȈȌȍȑ
ǴȖȎȕȖ ȕȈȏȊȈȚȤ ȕȍșȒȖȓȤȒȖ ȜȈȒȚȖȘȖȊ ȊȓȐȧȦȡȐȝ ȕȈ ȕȍȊȣșȖȒȐȑ
ǩȖȓȤȠȐȕșȚȊȖ ȗȘȖȜȍșșȐȖȕȈȓȤȕȣȝ șȗȖȘȚșȔȍȕȖȊ ȕȍ șȔȖȚȘȧȚ
ȘȈȏȓȐȟȕȣȝ ȓȐȕȐȑ Ȋ ȠȗȘȐȕȋȈȘȚȍȕȍ Ȋ ȚȍȟȍȕȐȍ ȓȍȚ ȋȖȊȖȘȧȚ Ȗȉ
ȘȍȑȚȐȕȋ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ȔȐȘȖȊȖȔ ȗȘȖȜȍșșȐȖȕȈȓȤȕȖȔ
ȕȈ ȈȝȈȓȚȍȒȐȕȞȈ ȒȈȒ ȕȈ șȍȘȤȨȏȕțȦ șȗȖȘȚȐȊȕțȦ ȓȖȠȈȌȤ ȗȘȐȟȐȕȈ
ǶȚșțȚșȚȊȐȍ ȐȕȚȍȘȕȈȞȐȖȕȈȓȤȕȖȋȖ ȞȍȕȚȘȈ ǷǰǨǸ ȒȖȚȖȘȣȑ ȔȖȋ
Ȋ ȗȘȐȕȞȐȗȍ ȚȈȓȈȕȚȓȐȊȖșȚȐ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ȥȚȖȔ ȊȐȌȍ
ȒȖȕȕȖȏȈȊȖȌșȒȖȔ Ȑ ȒȖȕȕȖșȗȖȘȚȐȊȕȣȝ ȔȐȘȈȝ
ȥȚȖȋȖ ȒȘȖȍȚșȧ Ȋ ȖȚșțȚșȚȊȐȐ ȒȈȒȖȑ ȓȐȉȖ ȐȕȜȖȘȔȈȞȐȐ Ȗ șȗȖȘȚȐȊȕȣȝ
ȉȣ ȕȈ ȗȘȖȜȍșșȐȖȕȈȓȤȕȖȔ țȘȖȊȕȍ ȌȍȓȈȚȤ ȘȍȒȓȈȔț ȈȝȈȓȚȍȒȐȕșȒȐȔ
DzȖȕșȍȘȊȈȚȐȏȔ ǨȝȈȓȚȍȒȐȕșȒȐȍ ȓȖȠȈȌȐ ȘȍȏȒȖ ȖȚȓȐȟȈȦȚșȧ
ȊȖȏȔȖȎȕȖșȚȧȝ ȥȚȖȑ ȗȖȘȖȌȣ DzȘȖȔȍ ȚȖȋȖ ȉȣȚțȍȚ ȔȕȖȎȍșȚȊȖ
ȓȖȠȈȌȧȔ ȖșȕȖȊȣȊȈȧșȤ ȕȈ ȔȈȚȍȘȐȈȓȍ șȖȉȘȈȕȕȖȔ Ȑȏ Ȋșȍȝ șȚȘȈȕ
ǩȣȚțȍȚ ȔȕȍȕȐȍ ȖșȕȖȊȈȕȕȖȍ ȕȈ țșȗȍȠȕȣȝ ȊȣșȚțȗȓȍȕȐȧȝ
ȗȖ șȊȖȍȔț ȚȐȗț Ȑ ȕȍȒȖȚȖȘȣȔ ȌȍȚȈȓȧȔ ȥȒșȚȍȘȤȍȘȈ ȖȚ ȌȘțȋȐȝ
ȕȍȖȉȖșȕȖȊȈȕȕȣȝ ȓȍȋȍȕȌ șȔȣșȓ ȒȖȚȖȘȣȝ ȗȘȐȕȐȎȈȍȚ ȞȍȕȕȖșȚȤ
ȐȔȍȦȡȐȝ ȥȚȐȝ ȓȖȠȈȌȍȑ
Ȋ șȗȖȘȚȍ ȍȌȐȕȐȟȕȣȝ ȓȖȠȈȌȍȑ ȓȐȕȐȐ ǼȈȒȐȘȗȍȓȤȊȈȕȈ Ȗ ȚȖȔ
ȚȘȈȌȐȞȐȖȕȕȣȝ ȒȖȕșȒȐȝ ȗȖȘȖȌ ȅ ȚȖ ȊȣȏȣȊȈȍȚ ȕȍȗȘȐȧȚȐȍ ȕȍȐȏȊȍșȚȕȖȑ
ȈȝȈȓȚȍȒȐȕȞȈ ȒȈȒ șȗȖȘȚȐȊȕȖȑ ȓȖȠȈȌȐ
ȟȚȖ ȥȚȖ ȊȣȌȈȦȡȈȧșȧ șȗȖȘȚȐȊȕȈȧ ȓȐȕȐȧ ǵȖ ȐșȝȖȌȧ Ȑȏ ȚȈȒȐȝ
Ȍȓȧ ȕȐȝ ȗȖȘȖȌȣ ǵȈȗȘȐȔȍȘ ȕȍȔȍȞȒȐȍ ȈȔȍȘȐȒȈȕșȒȐȍ Ȑ ȈȕȋȓȐȑșȒȐȍ
ǶȚșțȚșȚȊȐȍ Ȋ ȔȐȘȍ ȗȘȈȒȚȐȟȍșȒȐ ȊȖ Ȋșȍȝ ȝȖȏȧȑșȚȊȈȝ
ǽȖȚȍȓȖșȤ ȉȣ ș ȉȖȓȤȠȐȔ țȊȈȎȍȕȐȍȔ Ȓ ȕȐȔ ȕȈȏȊȈȚȤ ȐȔȍȕȈ
Ȏȍ Ȓ șȖȎȈȓȍȕȐȦ ȕȍȔȕȖȋȖȟȐșȓȍȕȕȣȝ ȊȣșȚțȗȓȍȕȐȑ Ȋ șȗȖȘȚȍ
ȗȘȖȜȍșșȐȖȕȈȓȤȕȣȍ șȗȖȘȚșȔȍȕȣ ȈȒȚȐȊȕȖ țȉȍȎȌȈȓȐ Ȕȍȕȧ Ȋ ȚȖȔ ȟȚȖ
șȖȌȍȘȎȈȡȐȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȠȗȘȐȕȋȈȘȚȍȕȖȊ ș
ȓȦȌȍȑ Ȉ ȚȈȒȎȍ șȚȘȈȕȣ Ȋ ȒȖȚȖȘȣȝ ȖȕȐ ȎȐȊțȚ ȗȘȖȌȖȓȎȈȦȡȐȝ
ȒȖȕȕȖȋȖ șȗȖȘȚȈ
16
ȐȕȊȍșȚȐȞȐȐ
ȓȖȠȈȌȍȑ
Ȋ
ȠȗȘȐȕȋȈȘȚȍȕȍ
ȗȖȒȈȏȣȊȈȦȡȐȍ
ȗȖȓȕȖȍ Ȑ
țȟȈșȚȐȧ
ȖȚșțȚșȚȊȐȍ ȘȍȒȓȈȔȕȖȋȖ ȈȝȈȓȚȍȒȐȕșȒȐȝ
ǪȣșȖȒȖȋȖ ȘȈȕȋȈ ȚȘȍȕȍȘ ȐȓȐ șȗȖȘȚșȔȍȕ Ȋ ȝȖȏȧȑșȚȊȈȝ ȐȔȍȦȡȐȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȉȖȓȤȠȈȧ ȘȍȌȒȖșȚȤ ǸȍȌȒȖȍ țȟȈșȚȐȍ ȈȝȈȓȚȍȒȐȕȞȍȊ Ȋ ȌȖȘȖȋȖșȚȖȧȡȐȝ șȗȖȘȚȐȊȕȣȝ șȖȘȍȊȕȖȊȈȕȐȧȝ ȊȣșȖȒȖȋȖ țȘȖȊȕȧ
17
18
ȚȘȍȕȐȘȖȊȈȚȤ șȊȖȐȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȍȓȧ țȟȈșȚȐȧ Ȋ
ǵȍșȔȖȚȘȧ ȕȈ ȥȒȖȕȖȔȐȟȍșȒȐȑ ȒȘȐȏȐș ǩȖȓȤȠȖȑ ȒȖȕȕȣȑ șȗȖȘȚ ȕȍ
ȓȖȠȈȌȐ Ȋ ȏȈȊȐșȐȔȖșȚȐ ȖȚ Ȑȝ ȒȈȟȍșȚȊȈ Ȑ țȘȖȊȕȧ Ȑȝ ȚȘȍȕȐȕȋȈ
șȖȘȍȊȕȖȊȈȕȐȧȝ ȗȖ ȘȈȏȕȣȔ ȊȐȌȈȔ ȒȖȕȕȖȋȖ șȗȖȘȚȈ Ȋ ǭȊȘȖȗȍ ǴȐȠȍȓȤ
Șțȝȕțȓ ȊșȨ ȚȈȒȎȍ ȗȘȖȊȖȌȐȚșȧ ȉȖȓȤȠȖȍ ȒȖȓȐȟȍșȚȊȖ ȌȖȘȖȋȖșȚȖȧȡȐȝ
ȗȘȖȌȈȊȈȓȐșȤ ȏȈ ȈȔ ȌȖȓ Ȑ ȊȣȠȍ ȗȘȖȉȓȍȔ șȖ șȉȣȚȖȔ ȕȍ
ǪȈȕ DzȈșȚȍȘȍȕ Ȋ ǹȀǨ ǬȎȈș ǴȈȒ ǴȈȝȖȕ Ȋ ǻȘțȋȊȈȍ ǪȐȓȓȐ dzȖȒȝȈȘȌ
șȖȘȍȊȕȖȊȈȕȐȑ dzȦȌȍȑ Ȑȏ ȔȐȘȈ ȖȟȍȕȤ ȌȖȘȖȋȐȝ șȗȖȘȚȐȊȕȣȝ ȓȖȠȈȌȍȑ
ȉȣȓȖ dzȖȠȈȌȐ ȗȖȒțȗȈȓȐșȤ Ȋ ȖșȕȖȊȕȖȔ ȗȘȍȌșȚȈȊȐȚȍȓȧȔȐ șȘȍȌȕȍȋȖ
ȌȈȓȤȕȐȍ ȗȘȖȉȍȋȐ ȊǹȀǨ ǨȔȘȐȚȈ ǰȉȖȓȌ ȚȘȖȍȉȖȘȤȍ Ȋ DzȈȕȈȌȍ ǹȐȕȚȐȧ
ȐȕȚȍȘȍșțȍȚ Ȉ ȟȚȖ ȥȚȐ ȓȖȠȈȌȐ ȔȖȋțȚ ȌȍȓȈȚȤ Ȋ ȒȈȒȖȔ ȊȐȌȍ ȒȖȕȕȖȋȖ
ȌȖșȚȈȚȖȟȕȖ ȏȈȎȐȚȖȟȕȖȋȖ ȒȓȈșșȈ ȒȈȒ ȓȦȉȐȚȍȓȤșȒȐȍ ǿȍȘȍȏ
ǹȊȍȕșȖȕ ±ȒȖȕȒțȘ Ȋ ǹȀǨ ǩȐȓ ǨșȒȐȕș ȊȣȍȏȌȒȈ șȘȍȌȕȐȑ ȗȘȐȏ
șȗȖȘȚȈ ȖȕȐ șȐȓȤȕȣ"
ȕȍșȒȖȓȤȒȖ ȓȍȚ ȕȈ ȘȣȕȒȍ ȓȦȉȐȚȍȓȤșȒȐȝ ȓȖȠȈȌȍȑ Ȟȍȕȣ ȘȍȏȒȖ țȗȈȓȐ
ȐȔȍȦȚșȧ ȒȓȈșșȕȣȍ ȚȘȖȍȉȖȘȕȣȍ ȒȖȕȒțȘȕȣȍ Ȑ ȊȣȍȏȌȒȖȊȣȍ ȓȖȠȈȌȐ
ǵȈ ȕȈșȚȖȧȡȍȍ ȊȘȍȔȧ Ȕȣ ȔȖȎȍȔ ȗȘȍȌșȚȈȊȐȚȤ ȒȈȒ ȌȖȒȈȏȈȚȍȓȤșȚȊȖ
Ȋ ȕȈșȚȖȧȡȍȍ ȊȘȍȔȧ ȞȍȕȈ Ȋ ǹȀǨ ȕȈ ȗȘȐȓȐȟȕțȦ ȈȝȈȓȚȍȒȐȕșȒțȦ
Ȋ DzȈȏȈȝșȚȈȕȍ DzȐȘȋȐȏșȚȈȕȍ Ȑ ǻȏȉȍȒȐșȚȈȕȍ Ȋ ǸȖșșȐȐ Ǩ ǸȖȏȈȕȖȊ
Ȑȝ ȗȍȘșȗȍȒȚȐȊȕȖșȚȐ Ȋ ȘȈȏȕȣȝ ȊȐȌȈȝ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȚȖȓȤȒȖ ȘȍȌȒȐȍ
ȓȖȠȈȌȤ ȊȈȘȤȐȘțȍȚ ȖȚ ȌȖ ȈȔ ȌȖȓ ȟȈșȚȖ ȕȍȊȣșȖȒȖȋȖ
Ȑ Ƕ ǩȖȘȐșȍȕȒȖ ȊȣșȖȒȖȋȖ țȘȖȊȕȧ ȚȘȖȍȉȖȘȤȍ ǰ ȥȚȖ ȕȈșȒȖȓȤȒȖ ȧ
șȓțȟȈȐ țȟȈșȚȐȧ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ Ȋ ǩȖȓȤȠȖȔ șȗȖȘȚȍ
ȒȓȈșșȈ ȓȖȠȈȌȍȑ ȖȚȌȈȦȚ ȉȍșȗȓȈȚȕȖ ȓȐȠȤ ȉȣ ȊȏȧȓȐ șȌȈȦȚ ȒȖȉȣȓ ȗȖ
ȐȕȜȖȘȔȐȘȖȊȈȕ ȊșȨ ǪșȨ ȥȚȖ Ȓ șȖȎȈȓȍȕȐȦ ȕȐȟȚȖȎȕȖ ȔȈȓȖ
ȥȚȖȋȖ ȕȍȌȖșȚȈȚȖȟȕȖ ȥȚȖ ȕȍ țȉȍȎȌȈȍȚ dzȐȟȕȖ ȧ ȕȍ șȖȔȕȍȊȈȦșȤ Ȋ
șȔȍȠȕȣȔ ȞȍȕȈȔ Ȋ ȈȘȍȕȌț Ȑ Ț Ȍ
dzȖȠȈȌȐ ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȣ ȥȚȖ ȎȐȊȖȚȕȣȍ ș ț ȕȐȊȍȘșȈȓȤȕȣȔȐ
ȉȓȍșȚȧȡȍȔ șȗȖȘȚȐȊȕȖȔ ȉțȌțȡȍȔ ȈȝȈȓȚȍȒȐȕȞȍȊ ȒȖȕȍȟȕȖ Ȏȍ ȥȚȖ
Dz șȖȎȈȓȍȕȐȦ Ȋ ǹȀǨ ȌȈ Ȑ ȊȖ ȊșȨȔ ȖșȚȈȓȤȕȖȔ ȔȐȘȍ ȚȖȓȤȒȖ
șȗȖșȖȉȕȖșȚȧȔȐ ± ȖȕȐ ȖȚȓȐȟȕȖ șȒȈȟțȚ ȝȖȘȖȠȖ ȗȘȣȋȈȦȚ ȐȔȍȦȚ
ȊȖȏȔȖȎȕȖ ȚȖȓȤȒȖ ȗȘȐ ȐșȗȖȓȕȍȕȐȐ șȖȖȚȊȍȚșȚȊțȦȡȐȝ ȖȉșȚȖȧȚȍȓȤșȚȊ
ȖȌȐȕȖȟȒȐ ȗȖȕȐȔȈȓȐ Ȋ ȟȈșȚȕȖșȚȐ ǼȐȓ Dzȍȑș ȒȈȒ ȊȈȎȍȕ șȗȖȘȚȐȊȕȣȑ
ȒȘȈșȐȊȣȍ Ȑ ȗȘȖȌțȒȚȐȊȕȣȍ ȌȊȐȎȍȕȐȧ șȐȓȤȕȣ Ȋ ȌȈȓȤȕȐȝ ȗȘȖȉȍȋȈȝ
ǷȖȌ șȖȖȚȊȍȚșȚȊțȦȡȐȔȐ ȖȉșȚȖȧȚȍȓȤșȚȊȈȔȐ ȧ ȗȖȕȐȔȈȦ ȘȍȏȒȖȍ
ȚȘȍȕȐȕȋ ȓȖȠȈȌȍȑ ȒȈȒ ȕȍȖȉȝȖȌȐȔ ȗȍȘȍȊȖȌ ȓȖȠȈȌȍȑ ȈȝȈȓȚȍȒȐȕșȒȖȑ
ȅȚȖ ȊșȨ ȏȕȈȍȔ Ȕȣ Țȍ ȒȚȖ ȚȘȍȕȐȘțȦȚ șȊȖȐȝ ȓȖȠȈȌȍȑ Ȍȓȧ țȟȈșȚȐȧ
țȊȍȓȐȟȍȕȐȍ ȟȐșȓȈ ȈȝȈȓȚȍȒȐȕȞȍȊ ȊȣșȚțȗȈȦȡȐȝ Ȋ șȖȘȍȊȕȖȊȈȕȐȧȝ ȗȖ
ȗȖȘȖȌȣ Ȑȏ ȘȈȏȘȧȌȈ ȓȦȉȐȚȍȓȤșȒȐȝ Ȋ ȗȖȘȖȌț ȐȏȊȍșȚȕțȦ șȊȖȐȔȐ
Ȋ ȒȈȒȖȔ ȓȐȉȖ ȊȐȌȍ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ǵȖ Țȍ ȒȖȚȖȘȣȍ ȕȍ ȚȘȍȕȐȘțȦȚ
ȒȓȈșșȐȟȍșȒȐȔ ȊȐȌȈȔ ȒȖȕȕȖȋȖ șȗȖȘȚȈ Ȑ ȗȘȖȉȍȋȈȝ DzȚȖ ȥȚȖ ȉțȌȍȚ ȌȍȓȈȚȤ
țșȗȍȝȈȔȐ Ȋ ȘȈȏȓȐȟȕȣȝ ȊȐȌȈȝ ȒȖȕȕȖȋȖ șȗȖȘȚȈ DzȈȒ ȧ țȎȍ ȋȖȊȖȘȐȓ
șȊȖȐȝ ȓȖȠȈȌȍȑ ȐȓȐ ȊȖȖȉȡȍ ȕȍ ȐȔȍȦȚ ȈȝȈȓȚȍȒȐȕȞȍȊ ȕȍ ȔȖȋțȚ
± ȚȘȍȕȐȘȖȊȈȚȤ ȓȖȠȈȌȍȑ ȗȘȖȊȖȌȐȚȤ ȘȍȒȓȈȔț ȗȖȘȖȌȍ ȗȖȌȉȐȘȈȚȤ
ȔȐȘ ǩȖȓȤȠȖȋȖ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȕȍ ȗȖȠȈȚȕțȓșȧ Ȑ șȚȖȐȚ ȒȘȍȗȒȖ
ȌȈȎȍ ȌȖȋȈȌȣȊȈȚȤșȧ Ȗ șȗȖȘȚȐȊȕȣȝ ȊȖȏȔȖȎȕȖșȚȧȝ ȥȚȐȝ ȓȖȠȈȌȍȑ
ȒȓȈșșȕȣȝ ȌȖȘȖȋȖșȚȖȧȡȐȝ ȚȘȍȕȍȘȖȊ Ȑ șȗȖȘȚșȔȍȕȖȊ Ȑ ȔȕȖȋȖȍ ȌȘțȋȖȍ"
ȕȖ ȈȝȈȓȚȍȒȐȕȞȍȊ Ȋ ȕȨȔ ȗȘȈȒȚȐȟȍșȒȐ ȕȍȚ Ǻȍȝ ȌȍșȧȚȒȖȊ ȓȖȠȈȌȍȑ
Ȑȏ ȏȈ ȖȚșțȚșȚȊȐȧ ȐȕȜȖȘȔȈȞȐȐ Ȗȉ ȥȚȖȔ Ȑ Ȑȏ ȏȈ ȔȈȓȖȟȐșȓȍȕȕȖȋȖ
ǵȐȒȚȖ ȒȘȖȔȍ ȕȈș șȈȔȐȝ ȊȓȈȌȍȓȤȞȍȊ ȥȚȐȝ ȓȖȠȈȌȍȑ ȕȐȟȍȋȖ ȌȍȓȈȚȤ ȕȍ
ȐȏȊȍșȚȕȣȝ Ȋ ȐșȚȖȘȐȐ ǩȖȓȤȠȖȋȖ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȕȍ ȌȖșȚȈȚȖȟȕȖ Ȍȓȧ
Ȑȝ țȟȈșȚȐȧ Ȋ șȖȘȍȊȕȖȊȈȕȐȧȝ Ȋ ȘȈȏȕȣȝ ȊȐȌȈȝ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȕȈ
ȉțȌȍȚ ǭșȓȐ ȉȣ Ȋ ȝȖȏȧȑșȚȊȈȝ ȘȈȏȊȖȌȧȡȐȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ
șȖȏȌȈȕȐȧ ȘȍȗțȚȈȞȐȐ ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȍ ȒȈȒ ȗȖȘȖȌȍ ȖȚȓȐȟȕȖȑ
ȌȖșȚȈȚȖȟȕȖ ȊȣșȖȒȖȔ țȘȖȊȕȍ
ȗȖȊȍȘȐȓȐ ȉȣ Ȋ ȌȍȑșȚȊȍȕȕȖșȚȤ ȠȗȘȐȕȋȈȘȚȍȕȖȊ ȗȘȐ ȕȈȗȘȣȋȐȊȈȕȐȐ
Ȍȓȧ ȒȖȕȕȖȋȖ șȗȖȘȚȈ
ǵȈ ȔȖȑ ȊȏȋȓȧȌ ȍȌȐȕșȚȊȍȕȕȖȑ ȊȖȏȔȖȎȕȖșȚȤȦ ȗȖȒȈȏȈȚȤ
ȓȖȠȈȌȍȑ ȗȍȘȊȖȕȈȟȈȓȤȕȣȑ ȗȍȘȐȖȌ ȉȣȓ ȉȣ ȗȘȖșȚȣȔ Ȑ ȌȍȠȨȊȣȔ
Ǫ ȔȐȘȖȊȖȔ ȒȖȕȍȊȖȌșȚȊȍ ȕȈȐȉȖȓȍȍ țșȗȍȠȕȣȔȐ Ȋ ȉȖȓȤȠȐȕșȚȊȍ
ȒȖȕȕȖșȗȖȘȚȐȊȕȖȔț ȔȐȘț ȟȚȖ ȕȈ șȈȔȖȔ Ȍȍȓȍ ȔȖȋțȚ ȌȍȓȈȚȤ
ȠȗȘȐȕȋȈȘȚȍȕȣ ȗȖȏȊȖȓȧȦȚ ȉȣșȚȘȖ Ȑ ȉȍȏȖȠȐȉȖȟȕȖ ȖȗȘȍȌȍȓȧȚȤ
șȊȖȨȔ ȖȒȈȏȣȊȈȓȐșȤ șȚȘȈȕȣ Ȋ ȒȖȚȖȘȣȝ Ȋșȧ ȘȈȉȖȚȈ ș ȓȖȠȈȌȤȔȐ
ȈȝȈȓȚȍȒȐȕșȒȐȍ ȓȖȠȈȌȐ ȥȚȖ ȚȘȍȕȐȘȖȊȈȚȤ Ȑȝ Ȑ țȟȈșȚȊȖȊȈȚȤ ȒȈȒ
ȓțȟȠȐȝ ȗȘȣȎȒȖȊȣȝ ȓȖȠȈȌȍȑ șȊȖȐȔȐ șȐȓȈȔȐ ȉȍȏ ȗȘȖȜȍșșȐȖȕȈȓȖȊ
ȘȍȋȓȈȔȍȕȚȐȘȖȊȈȓȈșȤ ȋȖșțȌȈȘșȚȊȖȔ
ȔȖȎȕȖ ȉȖȓȤȠȍ țȟȈșȚȊȖȊȈȚȤ Ȋ șȖȘȍȊȕȖȊȈȕȐȧȝ Ȋ ȘȈȏȕȣȝ ȊȐȌȈȝ
Ǫ ȖȚȓȐȟȐȍ ȖȚ ȕȈȠȍȑ ȗȖȘȖȌȣ ȈȘȈȉșȒȖȑ ȗȖȘȖȌȍ ȗȖȊȍȏȓȖ ț ȐșȚȖȒȖȊ
ǷȖ ȔȖȍȔț ȔȕȍȕȐȦ Țȍ ȜȈȒȚȣ ȟȚȖ Ȋ ǺțȘȒȔȍȕȐșȚȈȕȍ șȖȏȌȈȕȖ
ȒȖȕȕȖȋȖ șȗȖȘȚȈ ȇ țȉȍȎȌȨȕ Ȋ ȚȖȔ ȟȚȖ ȥȚȐ ȓȖȠȈȌȐ țșȗȍȠȕȖ ȔȖȋțȚ
ȖȉȘȈȏȖȊȈȕȐȧ ȈȔȍȘȐȒȈȕșȒȖȑ ȈșșȖȞȐȈȞȐȐ ȈȘȈȉșȒȐȝ ȓȖȠȈȌȍȑ șȚȖȧȓȐ
ȋȖșțȌȈȘșȚȊȍȕȕȖȍ șȗȍȞȐȈȓȐȏȐȘȖȊȈȕȕȖȍ ȈȝȈȓȚȍȒȐȕșȒȖȍ țȗȘȈȊȓȍȕȐȍ
ȒȖȕȒțȘȐȘȖȊȈȚȤ Ȋ ȘȈȏȕȣȝ ȊȐȌȈȝ ȒȖȕȕȖȋȖ șȗȖȘȚȈ ș ȓȖȠȈȌȤȔȐ ȌȘțȋȐȝ
ȊȍșȤȔȈ șȖșȚȖȧȚȍȓȤȕȣȍ ȓȦȌȐ ȒȖȚȖȘȣȍ ȊȒȓȈȌȣȊȈȓȐ ȉȖȓȤȠȐȍ șȘȍȌșȚȊȈ
Ȋ ȘȈȕȋȍ ȔȐȕȐșȚȍȘșȚȊȈ șȖșȘȍȌȖȚȖȟȍȕȖ ȕȈȐȉȖȓȤȠȍȍ ȗȖ șȘȈȊȕȍȕȐȦ
ȗȖȘȖȌ ȚȘȈȌȐȞȐȖȕȕȖ ȐȏȊȍșȚȕȣȔȐ ȒȈȒ ȝȖȘȖȠȐȔȐ șȗȖȘȚȐȊȕȣȔȐ
Ȋ ȗȐȈȘ ȈȘȈȉșȒȖȑ ȗȖȘȖȌȣ ȕȖ ȍșȓȐ ȉȣ Ȕȣ șȈȔȐ ȕȈțȟȐȓȐșȤ ȉȣ Ȋ șȊȖȐȝ
ș ȌȘțȋȐȔȐ șȚȘȈȕȈȔȐ ȗȖȋȖȓȖȊȤȍ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ș
ȗȖȘȖȌȈȔȐ ȧ țȊȍȘȍȕ Ȋ ȚȖȔ ȟȚȖ Ȋ ȕȍȒȖȚȖȘȣȝ șȗȖȘȚȐȊȕȣȝ
ȕȈȞȐȖȕȈȓȤȕȣȝ ȈșșȖȞȐȈȞȐȧȝ șȖȖȉȡȈ șȖȉȐȘȈȚȤ ȌȍȕȤȋȐ ȕȈ ȌȖȘȖȋțȦ
ȔȈȒșȐȔȈȓȤȕȣȔ Ȑȝ ȋȍȕȍȚȐȟȍșȒȐȔ ȘȈȏȕȖȖȉȘȈȏȐȍȔ Ȑ ȗȓȦș Ȓ ȥȚȖȔț
ȌȐșȞȐȗȓȐȕȈȝ ȕȈȗȘȐȔȍȘ Ȋ ȚȘȖȍȉȖȘȤȍ ȈȝȈȓȚȍȒȐȕșȒȐȍ ȓȖȠȈȌȐ Ȑȏ
ȘȍȒȓȈȔț Ȋ ȗȘȍșȚȐȎȕȣȝ ȎțȘȕȈȓȈȝ ȕȈ ȗȘȖȜȍșșȐȖȕȈȓȤȕȣȝ ȚȘȍȕȍȘȖȊ ȕȈ
ȏȈ șȊȖȐȝ țȕȐȊȍȘșȈȓȤȕȣȝ ȒȈȟȍșȚȊ șȖ ȊȘȍȔȍȕȍȔ ȊȗȖȓȕȍ șȗȖșȖȉȕȣ
ȖȘȋȈȕȐȏȈȞȐȦ ȗȐȈȘȈ Ȋ ȘȍȒȓȈȔȕȣȝ ȠȖț ȖȘȋȈȕȐȏȖȊȣȊȈȚȤ ȗȖșȚȖȧȕȕȣȑ
ȌȖȉȐȚȤșȧ șȚȈȚțșȈ ȓțȟȠȍȑ ȗȖȘȖȌȣ ȓȖȠȈȌȍȑ Ȍȓȧ ȚȘȖȍȉȖȘȤȧ
ȉȍșȗȓȈȚȕȣȑ ȖȉȔȍȕ ȐȓȐ ȐșȗȖȓȤȏȖȊȈȕȐȍ ȒȈȟȍșȚȊȍȕȕȣȝ ȎȍȘȍȉȞȖȊ ș
ǭșȓȐ Ȋ ȉȓȐȎȈȑȠȐȍ ȋȖȌȣ Ȋ ȔȐȘȍ Ȋ șȍȘȤȨȏȕȣȝ ȕȈȞȐȖȕȈȓȤȕȣȝ Ȑ
ȞȍȓȤȦ ȗȖȋȖȓȖȊȕȖȋȖ țȓțȟȠȍȕȐȧ ȒȈȟȍșȚȊȈ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ
ȔȍȎȌțȕȈȘȖȌȕȣȝ șȖȘȍȊȕȖȊȈȕȐȧȝ ȗȖȧȊȧȚșȧ Ȋ ȖȌȕȖ Ȑ ȚȖȎȍ ȊȘȍȔȧ
Ȋ ȞȍȓȖȔ Ȑ ȔȕȖȋȖȍ ȌȘțȋȖȍ ȕȈȊȍȘȕȧȒȈ șȐȚțȈȞȐȧ șȚȈȓȈ ȉȣ ȔȍȕȧȚȤșȧ Ȑ
ȖȚȓȐȟȕȣȝ șȗȖȘȚȐȊȕȣȝ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ ȥȚȖ țȎȍ ȉțȌȍȚ
ȐȕȚȍȘȍș șȖ șȚȖȘȖȕȣ ȗȘȖȜȍșșȐȖȕȈȓȖȊ Ȓ ȈȝȈȓȚȍȒȐȕȞȈȔ ȉȣ ȊȖȏȘȖș
ȖȡțȚȐȔȣȑ ȘȍȏțȓȤȚȈȚ șȗȘȖȊȖȞȐȘțȦȡȐȑ ȗȘRȧȊȓȍȕȐȍ ȉȖȓȤȠȍȋȖ
ǺȍȗȍȘȤ ȕȍșȒȖȓȤȒȖ șȓȖȊ Ȗ ȘȣȕȒȍ ȈȝȈȓȚȍȒȐȕșȒȐȝ ȓȖȠȈȌȍȑ
ȐȕȚȍȘȍșȈ Ȓ ȈȝȈȓȚȍȒȐȕȞȈȔ șȖ șȚȖȘȖȕȣ ȗȘȖȜȍșșȐȖȕȈȓȤȕȖȋȖ
ǵȈ ȔȖȑ ȊȏȋȓȧȌ ȍȋȖ ȗȘȈȒȚȐȟȍșȒȐ ȕȍ șțȡȍșȚȊțȍȚ Ǻȍ ȕȍșȒȖȓȤȒȖ
ȒȖȕȕȖșȗȖȘȚȐȊȕȖȋȖ ȔȐȘȈ
ȌȍșȧȚȒȖȊ ȓȖȠȈȌȍȑ ȒȖȚȖȘȣȍ ȗȘȖȌȈȦȚșȧ ȍȎȍȋȖȌȕȖ ȊȖ ȊșȨȔ ȔȐȘȍ Ȋ
ȉȖȓȤȠȐȕșȚȊȍ șȊȖȨȔ ȗȖ ȕȍȗȘȐȓȐȟȕȖ ȕȐȏȒȐȔ ȞȍȕȈȔ ȥȚȖ ȕȍ ȘȣȕȖȒ
ȐȔȍȦȡȍȍșȧ ț ȚțȘȒȔȍȕ ȐșȚȖȘȐȟȍșȒȐ ȖȉȖșȕȖȊȈȕȕȖȍ ȗȘȈȊȖ ȕȈȏȣȊȈȚȤ
ǻȟȐȚȣȊȈȧ ȔȕȖȎȍșȚȊȍȕȕȣȍ ȗȖȓȖȎȐȚȍȓȤȕȣȍ șȗȖȘȚȐȊȕȣȍ ȒȈȟȍșȚȊȈ
ȥȚț ȗȖȘȖȌț ȕȈȞȐȖȕȈȓȤȕȖȑ ȋȖȘȌȖșȚȤȦ ȐȔȍȕȕȖ ȚțȘȒȔȍȕșȒȖȋȖ
ȈȝȈȓȚȍȒȐȕȞȍȊ ȔȖȎȕȖ ȉȣȓȖ ȉȣ ȖȎȐȌȈȚȤ ȉȖȓȤȠȍȋȖ
ȕȈȘȖȌȈ ȌȈȦȚ ǺțȘȒȔȍȕȐșȚȈȕț ȌȖșȚȈȚȖȟȕȖ ȖșȕȖȊȈȕȐȑ ȕȈ ȚȖ ȟȚȖȉȣ
DzȖȋȌȈ ȧ ȚȖȓȤȒȖ ȗȘȐȊȨȏ șȊȖȦ ȗȍȘȊțȦ ȋȘțȗȗț ȓȖȠȈȌȍȑ Ȋ ǹȀǨ
ȗȘȍȚȍȕȌȖȊȈȚȤ Ȋ ȕȈșȚȖȧȡȍȍ ȊȘȍȔȧ Ȑ Ȋ ȉțȌțȡȍȔ ȕȈ ȋȓȈȊȍȕșȚȊțȦȡțȦ
Ȋ ȋȖȌț ȗȖȓȖȎȍȕȐȍ ȕȈ ȒȖȕȕȖȔ ȘȣȕȒȍ ș ȈȝȈȓȚȍȒȐȕȞȈȔȐ ȉȣȓȖ
ȘȖȓȤ Ȋ ȘȍȠȍȕȐȐ Ȋșȍȝ ȏȈȌȈȟ șȊȧȏȈȕȕȣȝ ș ȈȝȈȓȚȍȒȐȕșȒȖȑ ȗȖȘȖȌȖȑ
șȖȊȍȘȠȍȕȕȖ ȌȘțȋȖȍ ȟȍȔ șȍȑȟȈș ȗȘȖȌȈȊȈȓȖșȤ Ȑȝ ȔȕȖȋȖ Ȑ Ȟȍȕȣ ȕȈ
ȓȖȠȈȌȍȑ
ȈȝȈȓȚȍȒȐȕȞȍȊ ȥȚȖȑ ȕȖȊȖȑ Ȍȓȧ ǨȔȍȘȐȒȐ ȗȖȘȖȌȣ ȉȣȓȐ ȊȗȖȓȕȍ ȌȖșȚȖȑȕȣȍ ȕȐȎȍ ȈȔ ȌȖȓ ȏȈ ȔȖȓȖȌțȦ ȕȍ ȗȘȖȠȍȌȠțȦ
ǴȈȘȚ ȋ
ȕȐȒȈȒȖȋȖ șȍȘȤȨȏȕȖȋȖ ȚȘȍȕȐȕȋȈ ȓȖȠȈȌȤ ȧ ȕȍ ȖȗțșȒȈȓșȧ șȚȈȘȠȐȍ
Ǻ ǷȖȕȚȍȒȖȘȊȖ
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