FRQ LO SDWURFLQLR GL
%HQ(VVHUH D 6FXROD $ 6
4XHVWR H WDQWL DOWUL VSXQWL VRQR QDWL GDOOD PDWWLQD GL FRQIURQWR H GLYHQWHUDQQR VWLPROR SHU OR VYLOXSSR GHO SHUFRUVR LQYHUQDOH FRQ JHQLWRUL H LQVHJQDQWL XQLWL LQ UHWH SHU GDUH XQ LPSXOVR YLUWXRVR DOOD FUHVFLWD HGXFDWLYD H IRUPDWLYD GHL UDJD]]L $O WHUPLQH GHOOÅHYHQWR VRQR VWDWL UDFFROWL L TXHVWLRQDUL GL YDOXWD]LRQH FKH KDQQR PRVWUDWR FRPH FLUFD LO GHL SDUWHFLSDQWL KD ULWHQXWR PROWR XWLOH OD VFHOWD GHJOL DUJRPHQWL WUDWWDWL 1RQ WXWWL L GRFHQWL KDQQR SURSRVWR ůULFHWWHÅ° RSHUDWLYH SHU ODVFLDUH DJOL LQVHJQDQWL VSXQWL GL UDJLRQDPHQWR H VWLPROR SHUVRQDOH GD 1RQ GHFOLQDUH H DSSOLFDUH QHOOD SURSULD UHDOW¢ $QFKH LQ TXHVWR VHQVR ROWUH OÅ GHL SDUWHFLSDQWL KD DSSUH]]DWR OÅLPSRVWD]LRQH GHO FRQYHJQR H FLUFD LO ULWLHQH DVVROXWDPHQWH XWLOH TXHVWD LQL]LDWLYD 0ROWR VRGGLVIDFHQWH LO ULVXOWDWR FKH QRQ VDUHEEH VWDWR UHDOL]]DELOH VHQ]D LO VRVWHJQR GHL SDUWQHU GHOOÅLQL]LDWLYD %DQFD GL &UHGLWR 0ROWR &RRSHUDWLYR GL 6DOD H GL 6DUVLQD &RQIDUWLJLDQDWR SHU LO VRFLDOH H 0HFHQDWL GHO 6DYLR +DQQR GDWR XQ FRQWULEXWR IRQGDPHQWDOH DOOÅRUJDQL]]D]LRQH DQFKH D]LHQGH GL JUDQGH LPSRUWDQ]D QD]LRQDOH TXDOL 2URJHO H *DOYDQLQD PHQWUH KD RIIHUWR LO VXSSRUWR SUDWLFR LQ VHGH XQD UHDOW¢ ORFDOH TXDOH 5H GL 3DQH , FRPXQL GL &HVHQDWLFR H 0HUFDWR 6DUDFHQR KDQQR UHVR DQFRU SL» VXJJHVWLYR OÅHYHQWR RVSLWDQGROR LQ VHGL GL DOWLVVLPR SUHVWLJLR VWRULFR TXDOL LO 0XVHR GHOOD 0DULQHULD H 3DOD]]R 'ROFLQL 'DOOD UDFFROWD GHL TXHVWLRQDUL VRQR HPHUVH JOL LQWHUHVVL SHU HYHQWXDOL DWWLYLW¢ GL DSSURIRQGLPHQWR LQYHUQDOH ,Q SDUWLFRODUH OD SODWHD KD PRVWUDWR LQWHUHVVH SHU OÅDWWLYD]LRQH GHOOR VSRUWHOOR GL DVFROWR SVLFRORJLFR SHU ,QVHJQDQWL H JHQLWRUL FRRUGLQDWR GDOOD GRWW VD &LDUGR H GHOOR 6SRUWHOOR GHGLFDWR DL SUREOHPL GHULYDQWL GD '6$ SURSRVWR GDO GRWW 6FDOLDWL &RQIHUPDWR DQFKH OÅLQWHUHVVH SHU ODYRUR VX VLQJROL FDVL R GL VFDPELR SURIHVVLRQDOH LQ SLFFROR JUXSSR FRQ OD GRWW VD 0DIIL H LO 'RWW 9LWDOL ULFKLHVWH SUREDELOPHQWH GHULYDQWL GDOOD VFXROD SHU OÅLQIDQ]LD VRQR YROWH DOOÅDWWLYD]LRQH GL ODERUDWRUL SUDWLFL HVSHULHQ]LDOL SHU LQVHJQDQWL XWLOL D ULVFRSULUH OÅLPSRUWDQ]D GHO FRUSR FRPH PHGLDWRUH H FDQDOH ULFHWWLYR SULYLOHJLDWR ,O FRQYHJQR FRPH SHU OD SULPD HGL]LRQH VL FKLXGH FRQ OÅDSHUWXUD GL QXRYL SHUFRUVL IRUPDWLYL DIILDQFDQGR OD VFXROD QHOOH VLWXD]LRQL SL» GLIILFLOL H FUHDQGR XQD UHWH GL ODYRUR YLUWXRVD FKH SX´ VRVWHQHUH LO ODYRUR GHJOL LQVHJQDQWL H LO GLIILFLOH UXROR GHL JHQLWRUL $OLPHQWD]LRQH HGXFD]LRQH IRUPD]LRQH SDUROH FKLDYH SHU SRUWDUH DYDQWL LO SHUFRUVR JL¢ LQ HVVHUH H FKH VWD FRQWLQXDQGR D UDFFRJOLHUH DGHVLRQL H LQWHUHVVH GD SDUWH GL WXWWL JOL DWWRUL GHOOD VFHQD 1RYLW¢ SHU OÅDQQR H ULJXDUGHUDQQR ROWUH DOOD IRUPD]LRQH H DO VXSSRUWR GHJOL LQVHJQDQWL DQFKH OH QXRYH SURSRVWH SHU OD IRUPD]LRQH GHGLFDWD DL JHQLWRUL H LO JUDQGH SURJHWWR ů$OLPHQWD OD 0HQWHÅ° DWWLYDWR VX VFXROH SULPDULH GHO WHUULWRULR 4XHVWÅXOWLPR FKH XQLVFH LQVHJQDQWL EDPELQL H JHQLWRUL KD OÅRELHWWLYR GL SURPXRYHUH XQD FRUUHWWD DOLPHQWD]LRQH FRPH VWUXPHQWR HGXFDWLYR SULQFLSH GL SURQWR XWLOL]]R D FDVD H D VFXROD 8QD WUDVPLVVLRQH WHOHYLVLYD LQ RQGD VX 7HOHURPDJQD VDU¢ LO ULVXOWDWR ILQDOH H FRQFUHWR GL WXWWR LO ODYRUR FKH YHUU¢ IDWWR ,QVLHPH SHU FUHVFHUH ULQJUD]LD L GRFHQWL H JOL RUJDQL]]DWRUL SHU OÅLPSRUWDQ]D FKH ULYHUVDQR VXOOD SUHYHQ]LRQH VDQLWDULD H VXOOÅHGXFD]LRQH H WXWWL FRORUR FKH ILQR DG RUD KDQQR LQYHVWLWR QHO SRWHUH GHO WHDP H GHOOD UHWH GL ODYRUR &UHVFHUH H PLJOLRUDUH VL SX´ IDUOR ,QVLHPH GLPLQXLVFH L WHPSL H PLJOLRUD L ULVXOWDWL %XRQ ,QL]LR GL DQQR VFRODVWLFR D WXWWL GRWW VD %DUEDUD &DSHOOLQL ,QVLHPH SHU &UHVFHUH DSV
VL ULQJUD]LD