%2l1-$&, 8 +59$76.2QDVORY MH L VOLND YHรฆ WLSL]LUDQRJ LVODPVNRJ WHURULVWH V JXVWLP REUYDPD OLFD SUHNULYH QRJ SDOHVWLQVNRP PDUDPRP L WUDNH QD รงH OX QD NRMRM MH ]DSLVDQ .HOLPHL {HKDGHW 8 VDGUรฅDMX WRJ รงODQND QH GDMX VH QLNDNYH LQ GLFLMH GD VWYDUQD SULMHWQMD SRVWRML YHรฆ GD MH PRJXรฆD VDPR ]ERJ YHOLNRJ EURMD WXULVWD WLMHNRP WXULVWLรงNH VH]RQH X +UYDWVNRM =D{WR RQGD WDNR ERPEDVWLรงQD QDVORYQL FD" =DU VH รฅHOMHOR UHรฆL GD MH VYDNL PXVOL PDQ NRML VYDNRGQHYQR L]JRYDUD .HOLPHL {HKDGHW GDNOH RรงLWXMH VH GD YMHUXMH X -HG QRJ %RJD L SRVODQLND 0XKDPPHGD D V WHURULVW" =DU VH +UYDWL WUHEDMX ERMDWL PXVOL PDQD NRML VH PROH %RJX" 3R VXJHVWLML QD VORYQLFH t9HรงHUQMHJ OLVWDu PRรฅH VH UHรฆL GD MH WR XSUDYR WDNR 2 WRPH +UYDWH REDYMH {WDYD L]YMHVQL HNVSHUW ]D WHURUL]DP L RED YMH{WDMQH VOXรฅEH 6DMMDQ *RKHO NRML VH X] JUHG UHรงHQR YHรฆ MDYOMDR X t9HรงHUQMHP OL VWXu DQDOL]LUDMXรฆL PRJXรฆX YHKDELMVNX SUL MHWQMX X %L+ รฉLWDYD RYD SULรงD EL SUR{OD YMHURMDWQR QH]DSDรฅHQRP DOL MH X LVWRP OLVWX 0LODQ ,YNR{Lรฆ X VYRMRM UHGRYQRM NROXPQL RVXGLR XUHGQLND t1RYRVWLu ]ERJ QDVORYQL FH t2EDGYD REDGYD VX SDODu , QH VDPR QMHJD MHU WDM QRYLQDU GYRMEHQLK YULMHGQR VQLK SURVXGEL UHGRYQR SURL]YRGL รงODQNH QD WHPX ]DJRYDUDQMD WUHรฆHJ HQWLWHWD L XJURรฅH QRVWL KUYDWVNH PDQMLQH X %L+ 3ULWRP VH QH OLEL %R{QMDNH RFUQMLYDWL SD รงDN LPHQRYDWL L 7XUFLPD ,VWL QRYLQDU รฆH RVXGLWL t1RYRVWLu D X NROXPQL รฆH LVPLMDYDWL L รฅLGRYH WH รฆH LVSULรงDWL YLF R 6ODYNX *ROGVWHLQX L ORYX QD XVWD{H 1HYMHURMDWQD GHPDJRJLMD EUDQLWL VYRMH VYHWLQMH L QDSDGDWL WXรฌH ,YNR{Lรฆ X QD VORYQLFL t2E]RUDu QLMH YLGLR QLNDNYR ]OR MHU VX PXVOLPDQL WROLNR PHGLMVNL WLSL]LUDQL GD VH YMHURMDWQR QLWNR QH EL L]QHQDGLR NDGD EL VH QHNL ]DJUHEDรงNL PXVOLPDQ UD]QLR QD 7UJX EDQD -HODรงLรฆD 9MHURMDWQR EL ]DNOMXรงDN ELR WR VPR RG QMLK L RรงHNLYDOL
-HVPR OL VL GRSXVWLOL GD VH RรจDUDPR NULYLP OMXGLPD" 0HรฌXWLP QLMH QDV ]DEULQXR QL 0LODQ ,YNR{Lรฆ QL QDVORYQLFD t2E]RUDu NROLNR QD {D ER{QMDรงND RWXSMHORVW LQHUWQRVW L VSRUR KRGQRVW X UHDJLUDQMX QD RYDNYH PHGLMVNH QDWSLVH 1H SRVWRML QL MHGQD LQVWDQFD X QD {HP GUX{WYHQRP L YMHUVNRP HVWDEOL{PHQWX NRMD EL UHDJLUDOD QD RYDNYH QDWSLVH =DU WR PRรฅHPR RรงHNLYDWL RG lHPVH 7DQNRYLรฆD" 1DUDYQR GD QH MHU VH RQ RGDYQR SR]DEDYLR VDP VD VRERP NDR {WR MH UHNDR MHGDQ QD{ t%R{QMRu w 'DR %RJ GD VH SR]DEDYLR VDP VRERP w NDR MHGQRP RG JRULK NOHWYL X QD {HP QDURGX , QLMH VH VDPR RQ SR]DEDYLR VRERP L GUXJL VX 1D{H LQVWLWXFLMH SULMH VH EDYH PHรฌXVREQLP QDWMHFDQMLPD VPMHQML YDQMLPD XVWROLรงDYDQMLPD VYDรฌDPD PH
รฌXVREQLP LJULFDPD QHJR VWYDUQLP QDFLR QDOQLP L YMHUVNLP SUREOHPLPD %R{QMDND L PXVOLPDQD .DGD EL HQHUJLMX NRMX WUR{LPR X PHรฌXVREQLP QDGPXGULYDQMLPD RSWXรฅL YDQMLPD L QDWMHFDQMLPD ]D UD]QH SR]LFLMH XVPMHULOL QD SUHLVSLWLYDQMH YODVWLWRJ VWDWXVD X KUYDWVNRM MDYQRVWL QD{D GUX{WYHQD VWYDU QRVW ELOD EL VDVYLP GUXJDรงLMD 1H WUHED RQGD รงXGLWL {WR W]Y PDOL รงRYMHN JXEL SRYMHUHQMH X QD{H XGUXJH L YMHUVNH LQ VWLWXFLMH 1MHJD QLWNR L QH SULPMHรฆXMH VYH GHQ MH QD VWDWLVWLรงNL EURM XSODรฆHQLK ]HNDWD L ILWUL รงODQVWDYD SR QD{LP LQVWLWXFLMDPD XOD VNX X GรฅDPLMX ]D YULMHPH UDPD]DQD VYH GHQ MH QD รงODQD SRVOX{QRJ NUGD $OL QLMH ED{ WDNR 1LVX QL W]Y PDOL OMXGL JOXSL LPDMX L RQL VYRMH GRVWRMDQVWYR SULVOXKQXOL VX {WR VH GRJDรฌD PHรฌX QD{RP W]Y HOLWRP รฉXOL VX ]D QMLKRYH EHVNUDMQH ERUEH ]D SR]LFLMDPD SR รงHOL VX SUHSR]QDYDWL NDGD LK VH ]DYDUDYD L NDGD LK VH ODรฅH %RMLPR VH GD MH SRYMHUHQMH NRG QHNLK QHSRYUDWQR QDUX{HQR WH รฆH RQL XVWYUGLWL GD QH รฅHOH LPDWL QL{WD YL{H QL VD GรฅDPLMRP QL VD %R{QMDFLPD 1HND VH WDNYL XSLWDMX MHVX OL YMHURYDOL OMXGLPD LOL 9L{RM LQ VWDQFL NRMD QD NUDMX JDUDQWLUD SUDYGX -HVPR OL VL GRSXVWLOL GD VH RรงDUDPR NULYLP OMXGLPD GD QDP RQL EXGX SUHGVWDYQLFLPD SD VPR VH UD]RรงDUDOL" -HVPR 2QDM NRML VH RรงDUD WDM VH QHPLQRYQR L UD]RรงDUD XVWYUGLW รฆHPR (OHP QHPRMPR VH RรงDUDYDWL YHรฆ XSRWULMHELPR UD ]XP L EXGLPR RSUH]QL X VYLP EXGXรฆLP ELUD QMLPD QD{LK SUHGVWDYQLND
9ODGDYLQD GXKRYQLK IXNDUD .DNR MH PRJXรฆH GD MH QD{ QDURG ULMHรง IXNDUD XVSLR GHILQLUDWL MHGLQR VLURPD{WYRP" 7R QLMH GREUD GHILQLFLMD IXNDUD{WLQH MHU X] RQX PDWHULMDOQX VYDNDNR MH JRUD RQD GXKRY QD IXNDUD{WLQD 7H IXNDUH MH X QDV QDMYL{H 2QL VX VH WROLNR WUXGLOL ERMHรฆL VH รงLWDY รฅLYRW ]D JROX HJ]LVWHQFLMX WL QHNL QD{L GRVHOMHQLFL L] %RVQH L +HUFHJRYLQH GD QH EXGX PDWHUL MDOQH IXNDUH QD NUDMX VX X WRPH L XVSMHOL SRVWDOL VX ERJDWH GXKRYQH IXNDUH 6YRMLP QRYFHP XVSMHOL VX VL SULVNUELWL XJOHG X QD{RM GUX{WYHQRM L YMHUVNRM ]DMHGQLFL RVLJXUDOL VL XJRGQX VWDURVW VYRMLP QRYFHP NXSLOL VX VL PMHVWD SR L]YU{QLP RGERULPD YLMHรฆLPD SUHGVMHGQL{WYLPD MHGQRP ULMHรงMX XVSMHOL VX , QH VDPR VHEL YHรฆ RQDM NRML GDMH QRYDF UHFLPR ,VODPVNRM ]DMHGQLFL PLVOL GD L QMH JRYR GLMHWH PRรฅH QDVOLMHGLWL VYH QMHJRYH IXQNFLMH NDGD SR QMHJD GRรฌH $]UDLO t%DER NXSL PL PMHVWR X 2GERUX EDNODYX L URPR ELO EDER NXSL PL VYHu รงHVWD MH DUKLIDO{ VHY GDOLQND NRMX GMHรงLFD SMHYDMX QHNLP QD{LP SUHGYRGQLFLPD 0RรฅGD รฆH QHNL SRPLVOLWL GD LPDPR QH{WR SURWLY WUJRYDFD L SRGX]HWQLND QDSURWLY ]DU QLMH L 0XKDPPHG D V ELR WUJR YDF" %LR MH DOL QLMH ELR YH]DQ ]D VYRMH ER
JDWVWYR ]D VYRM XWMHFDM L GUX{WYHQX PRรฆ 1D{D MH W]Y HOLWD YH]DQD L WR GHEHOLP ODQFL PD QLSR{WR ]QRMHP MHU VH YL{H QH XPDUDMX YH]DQD MH SR NUYL GDLGรฅDPD L DPLGรฅLรฆLPD L SR LQWHUHVQLP NULWHULMLPD 2YGMH MH ULMHรง R YUOR SHUILGQR XPRWDQRM ROLJDUKLML YODGDYLQL JUXSH HNVSORDWDWRUD NRML VX VH RNLWLOL UD]QLP ]DVOXJDPD NRML รฆH QHSUHVWDQR SULรงDWL R WRPH NROLNR VX QRYDFD GDOL ]D RYR LOL ]D RQR D NRULVWHรฆL %RรฅMX ]D GXรฅELQX VHEL รฆH SULVNUEOMLYDWL UD]QH NRULVWL 8YMHULOL VX VHEH GD QH UDGH OR{H GD FLOM RSUDYGDYD VUHGVWYR *RGLQDPD VX EULรฅOML YR RGJDMDOL VYRMX GMHFX GD MHGQRJ GDQD SUHX]PX QMLKRYH SR]LFLMH WX ]ODWQX POD GHรฅ NRMD VH RG RQH GUXJH YD]GD VNURPQLMH ERJRERMD]QLMH WL{H DOL REUD]RYDQLMH NXO WXUQLMH L NUHDWLYQLMH UD]OLNXMH VDPR SR GH EOMLQL VYRJ QRYรงDQLND L QLNRJD L]D OHรฌD WNR EL MRM VWDR X ]D{WLWX 7ROLNR VX VH RVLOLOL GD YL{H L QH YMHUXMX GD LK QHWNR PRรฅH ]DPLMH QLWL 0LMHQMDMX IXQNFLMH ]DQLPDQMD L VWUDQ NH DOL QH X]PLรงX ED{ NDR QHL]OMHรงLYD ER OHVW 3RVWRML OL ]D WDNYH XRSรฆH NDUDQWHQD QHND XVWDQRYD ]D VSHFLMDOQR REROMHOH" ,PD MH LPD VDPR LP WUHED QDSLVDWL XSXWQLFX L SRVODWL EROQLรงND NROD รฉDVW L]QLPNDPD MHU L X VYDNRP NXNROMX LPD รฅLWD 7LPH VPR KDPDQ GHILQLUDOL GXKRYQX IX NDUD{WLQX MHU QRYDF VH QH GDMH ,VODPVNRM ]DMHGQLFL WDPR QHNRP PXIWLML LOL LPDPX GDMH VH SR $OODKRYRM RGUHGEL 3ULWRP RQDM NRML GDMH QH WUHED RรงHNLYDWL GD รฆH PX QHNR UHรฆL KYDOD MHU ]DU VH ]D VWURJX REDYH]X PR UD QHNRPH ]DKYDOMLYDWL ,OL WDM PRรฅGD PLVOL GD MH ULMHรง R QHNLP VUHGQMRYMHNRYQLP FU NYHQLP SUDYLOLPD L GD QRYFHP PRรฅH RWNX SLWL VYRMH JULMHKH GD QRYFHP PRรฅH SRWNXSL WL 6YHYL{QMHJ GD SR GLYDQKDQDPD PRรฅH OD SUGDWL tMD GDR SDUHu 6QDJD QD{LK ]DMHGQLFD QLMH LVNOMXรงLYR X ERJDWLP SRMHGLQFLPD YHรฆ X MDNRP ]DMHGQL{WYX VKYDWLPR WR 1LMH YDรฅQR GD OL VX WL SRMHGLQFL ERJDWL LDNR MH WR GREUR GR{OR WR ]QDรงL DNR VX SULWRP ELOL SR{WHQL XMHGQR VX L XVSMH{QL MHU MDND L VORรฅQD ]DMHG QLFD GREUR RUJDQL]LUDQD XYLMHN MH ERJDWD 1DPD SRรงHVWR L NXOWXUX L YMHUVNL รฅLYRW RGUH รฌXMX QH RQL GDURYDQL QDGDKQXรฆHP LOKD PRP L NXOWXUQLP L YMHUVNLP VWUXNRYQLP YHรฆ LVNYDUHQL L NRUXPSLUDQL NRML VX VH SUR GDOL ]D QRYDF PDOL {SHNXODQWL SROLWLรงDUรงLรฆL L LQL QRYรงDUVNL PRรฆQLFL รงLML LPHWDN WDNRรฌHU MHGQRJ GDQD PRรฅH GRรฆL SRG SRYHรฆDOR 0R OLPR VH GUDJRP $OODKX ]D GREURELW VYLMX QDV GD WR QH EXGH WDNR 1R SULรงHNDMWH PDO NR SRODKNR L VDEXUOL NDGD รฆHWH ELWL VYMHGR FLPD RYDNYLK L VOLรงQLK VLWXDFLMD NRMH PRJX ]DYU{LWL MDVQLP L QHVPLOMHQLP EXQWRP VDPR SULรงHNDMWH GD VH RGLJUD GUDPD X NRMRM รฆH ]D YU{LWL YODGDYLQD GXKRYQLK IXNDUD 6DPR WD NYX GUDPDWLNX WUHED SRรฅHOMHWL ]D 1RYX KLGรฅUHWVNX JRGLQX ย
2 8 5 1 $ /