$0.6/*45* & 1&3 -Кб01104*;*0/& %* $-"44& & -Кб"-5&3/"5*7" %* 4*45&." $0/530 -& %&453& "-5&3/"5*7* "- $&/5304*/*453" & '603* %"* %*,5"5 %&--" #"/$" $&/53"-& &6301&" -Кб7*** $POHSFTTP EJ 3JGPOEB[JPOF $PNVOJTUB TJ TWPMHF JO VO DPOUFTUP EJ QSPGPOEB DSJTJ EFM TJTUFNB DBQJUBMJTUJDP VOB DSJTJ FDPOPNJDB TPDJBMF BNCJFOUBMF F DVMUVSBMF DIF SJDPOGFSNB JO UVUUB MB TVB HSBWJU┬ю MB OFDFTTJU┬ю EFMMB DPTUSV[JPOF EFMMКаBMUFSOBUJWB EJ TJTUFNB F EFM SJMBODJP EJ VOB GPS[B DPNVOJTUB 1FS UFOFSF BQFSUB RVFTUB QSPTQFUUJWB JM 13$ SFTUB BE PHHJ VOP TUSVNFOUP FE VOP TQB[JP PSHBOJ[[BUP GPOEBNFOUBMF OPOPTUBOUF J HSBWJ QSPCMFNJ EJ MJOFB QPMJUJDB F EJ PSJFOUBNFOUP TUSBUFHJDP F NBMHSBEP MF QFTBOUJ EJGGJDPMU┬ю DIF DBSBUUFSJ[[BOP MB TJUVB[JPOF BUUVBMF *M OPTUSP JNQFHOP ┬ц WPMUP B SJQSJTUJOBSF JM QSPHFUUP EFMMB КБSJGPOEB[JPOF DPNVOJTUBКц NPUJWB[JPOF GPOEBOUF EFM 13$ VO QSPHFUUP DIF TJ QSPQPOHB EJ JEFOUJGJDBSF J DPOUFOVUJ EFMMB EFNPDSB[JB DPO MB QSPTQFUUJWB DPNVOJTUB JM TVQFSBNFOUP EFM WFSUJDJTNP F EFMMКаJTUJUV[JPOBMJTNP MB SJDPORVJTUB EFMMB DFOUSBMJU┬ю EFM DPSQP NJMJUBOUF OFMMB WJUB F OFHMJ JOEJSJ[[J EFM QBSUJUP 1FS SFOEFSF BUUVBMF F VUJMF BMMB GBTF RVFTUP PCJFUUJWP BCCJBNP JM EPWFSF EJ OPO SJQFUFSF HMJ FSSPSJ EFM QBTTBUP F EJ SJMFHHFSF DSJUJDBNFOUF MB OPTUSB TUPSJB OPO QFS QJDDPOBSMB NB QFS NJHMJPSBSDJ F BOEBSF BWBOUJ %PCCJBNP DPMMPDBSF RVFTUB SJGMFTTJPOF TVMMB SJGPOEB[JPOF EFOUSP VO QSPDFTTP QJ┬х BNQJP EJ SJBHHSFHB[JPOF F VOJU┬ю EFMMF GPS[F DPNVOJTUF OFMMB DIJBSF[[B EFMMB MJOFB QPMJUJDB F SJGVHHFOEP EB RVBMTJBTJ TDPSDJBUPJB P BUUFHHJBNFOUP EJ BVUPTVGGJDJFO[B *OWJUJBNP RVBOUJ DSFEPOP OFM SVPMP F OFMMB OFDFTTJU┬ю EJ VO QBSUJUP DPNVOJTUB B VTDJSF EBJ QSPQSJ SFDJOUJ FE B DPOUSJCVJSF JOTJFNF BMMB TVB SJGPOEB[JPOF F SJDPTUSV[JPOF *M 13$ HSB[JF BMMB NJMJUBO[B EJ NJHMJBJB EJ DPNQBHOJ F КЏ OPOPTUBOUF MB GPSUF DSJTJ QPMJUJDP PSHBOJ[[BUJWB NBOUJFOF VOB QSFTFO[B FE VO JOTFEJBNFOUP OB[JPOBMF DIF OPO QV┬« FTTFSF EJTQFSTP 0HHJ RVFTUP JNQPSUBOUF QBUSJNPOJP F MКаFTJTUFO[B TUFTTB EFM 13$ TPOP OVPWBNFOUF B SJTDIJP B DBVTB EFMMB MJOFB GBMMJNFOUBSF EFMMКаBUUVBMF HSVQQP EJSJHFOUF DIF IB BGGPTTBUP MB TWPMUB EJ $IJBODJBOP КБJO CBTTP B TJOJTUSBКц F OPO IB QSBUJDBUP VOB SFBMF EJWFSTJU┬ю EBM КБNPEFMMP WFOEPMJBOPКц OPOPTUBOUF MB QFTBOUF TDJTTJPOF TVCJUB OFM F MB UFOBDF SFTJTUFO[B EJ UBOUJ DJSDPMJ F NJMJUBOUJ BMMB MJRVJEB[JPOF EFM QBSUJUP %J GSPOUF BMMB EVSF[[B EFMMP TDPOUSP EJ DMBTTF JNQPTUP EBMMB DSJTJ SJUFOJBNP MB QSPQPTUB EJ VOJU┬ю B TJOJTUSB F EJ 'SPOUF %FNPDSBUJDP DPM 1% BWBO[BUB EBM TFHSFUBSJP 'FSSFSP GVNPTB OFJ DPOUFOVUJ F JODPOTJTUFOUF OFMMB TPTUBO[B DPO JM SJTDIJP BODPSB VOB WPMUB EJ DPOEBOOBSF J DPNVOJTUJ BMMB TVCBMUFSOJU┬ю F EJ SJEVSOF MB QSFTFO[B B TFNQMJDF UFOEFO[B DVMUVSBMF -КаFTJHFO[B OPO QJ┬х SJOWJBCJMF EJ VOB TJOJTUSB BOUJDBQJUBMJTUB JOEJQFOEFOUF FE BMUFSOBUJWB BODIF BM 1% TQJFHB JM WJ[JP EJ PSJHJOF FE JM GBMMJNFOUP EFMMB 'FEFSB[JPOF EFMMB 4JOJTUSB VOB TDFMUB DIF IB QSPEPUUP EJTTFOTP F EJTPSJFOUBNFOUP JO NPMUJTTJNJ DPNQBHOJ F -B 'E4 OPO TJ ┬ц DBSBUUFSJ[[BUB JOGBUUJ DPNF VOP TQB[JP QPMJUJDP BQFSUP BMMB DPTUSV[JPOF EJ VO QPMP BMUFSOBUJWP F DPOUSBQQPTUP BMMF QPMJUJDIF MJCFSJTUF TJ ┬ц DPOGJHVSBUB JOWFDF DPNF VOКаPQFSB[JPOF EJ WFSUJDF DBMBUB EBMMКаBMUP JO OPNF EJ VO NBMJOUFTP TFOTP UVUUP JTUJUV[JPOBMF EFMMB КБTPQSBWWJWFO[BКц EFM QBSUJUP VOКаPQFSB[JPOF QSJWB EJ VO FGGFUUJWP MBWPSP F SBEJDBNFOUP OFMMB TPDJFU┬ю PMUSF DIF EJ VOB EFNPDSBUJDB MFHJUUJNB[JPOF DPOHSFTTVBMF -B 'E4 TPQSBUUVUUP IB SJQSPEPUUP GPSUJ BNCJHVJU┬ю F DPOUSBEEJ[JPOJ EJ MJOFB QPMJUJDB TVMMF QSJODJQBMJ RVFTUJPOJ QPTUF EBMMP TDPOUSP TPDJBMF F OFJ SBQQPSUJ DPO JM DFOUSPTJOJTUSB DPOHSFTTP $(*- WJDFOEB 'JBU BDDPSEP HJVHOP BDDPSEJ DPM 1% QSFTFO[F JTUJUV[JPOBMJ HPWFSOJTNP EJNPTUSBOEP DPT┬е EJ OPO BWFS GBUUP UFTPSP EFMMB ESBNNBUJDB FTQFSJFO[B EFM (PWFSOP 1SPEJ F EFMMB 4JOJTUSB "SDPCBMFOP DIF IBOOP QFTBOUFNFOUF SJEJNFOTJPOBUP JO QBSUJDPMBSF JM 13$ BQQBSTP JOVUJMF FE JOBGGJEBCJMF QFS BNQJ TFUUPSJ QPQPMBSJ -B 'E4 OPO ┬ц RVJOEJ SFDVQFSBCJMF DPO VOB КБHFOFSJDB TQJOUB EBM CBTTPКц 0DDPSSF SJNVPWFSF RVFTUB JMMVTPSJB TDPSDJBUPJB QPMJUJDJTUB DIF DPNF QSFWJTUP TJ TUB EJNPTUSBOEP TFNQSF QJ┬х JODBQBDF EJ TWPMHFSF VO SVPMP FGGFUUJWP OFMMB TPDJFU┬ю WFEJ MF EJWFSTF QPTJ[JPOJ JO NFSJUP BMMКаBDDPSEP EFMMP TDPSTP HJVHOP %PCCJBNP JOPMUSF TBMWBHVBSEBSF MКаBVUPOPNJB EFM 13$ DPOUSP PHOJ JQPUFTJ EJ DFTTJPOF EJ TPWSBOJU┬ю EFM QBSUJUP OFJ DPOGSPOUJ EFMMB 'E4 MM DPOHSFTTP OB[JPOBMF SBQQSFTFOUB RVJOEJ VO QBTTBHHJP EFDJTJWP QFS TFHOBSF VOB TWPMUB QSPGPOEB DIF SFDVQFSJ FE BHHJPSOJ J DPOUFOVUJ EJ $IJBODJBOP OFMMКаBUUVBMF GBTF TFHOBUB EBMMB DSJTJ EBM CJQPMBSJTNP F EBMMB QSFDBSJFU┬ю NB BODIF EBMMB SJQSFTB EJ VOB PQQPTJ[JPOF EJ DMBTTF QFS SJDPOTFHOBSF JM QBSUJUP BJ TVPJ NJMJUBOUJ QFS TBMWBHVBSEBSF QSF[JPTF FOFSHJF FE FTQFSJFO[F BDDVNVMBUF OFJ WFOUJ BOOJ EFMMB OPTUSB TUPSJB -КаBUUVBMF HSVQQP EJSJHFOUF B QBSUJSF EBMMB TFHSFUFSJB OB[JPOBMF EFWF GBSF VO QBTTP JOEJFUSP 0DDPSSF EJDIJBSBSF FTBVSJUB VOB GBTF QPMJUJDB F BQSJSOF VOB OVPWB QFS BGGSPOUBSF MB OFDFTTJU┬ю EJ VOB TJOJTUSB EJ BMUFSOBUJWB TV CBTJ DPNQMFUBNFOUF EJWFSTF OFM WJWP EFJ DPOGMJUUJ OFM DPOGSPOUP TVJ DPOUFOVUJ DPO UVUUF MF SFBMU┬ю TPDJBMJ F QPMJUJDIF EJTQPOJCJMJ BM EJ GVPSJ EJ GPS[BUVSF PSHBOJ[[BUJWF TFUUBSJTNJ F GPSNVMF QSFDPTUJUVJUF DPO VOB QSBUJDB UFOBDF DPFSFOUF F EJ MVOHB MFOB DIF SPNQB DPO JM HPWFSOJTNP MF EPQQJF[[F F HMJ PQQPSUVOJTNJ EFHMJ BUUVBMJ HSVQQJ EJSJHFOUJ DIF SJDPTUSVJTDB MB DSFEJCJMJU┬ю EFMMB TJOJTUSB F MКаVUJMJU┬ю EJ VOB GPS[B DPNVOJTUB QFS NJMJPOJ EJ QSPMFUBSJ EPQP MB DSJTJ EJ RVFTUJ BOOJ SJQSFOEFSF JM QFSDPSTP EFMMB SJGPOEB[JPOF EJ VO QBSUJUP DPNVOJTUB RVFTUJPOF DFOUSBMF F UVUUPSB JSSJTPMUB B QBSUJSF EBJ UFSSJUPSJ
SBEJDBOEP JM QBSUJUP F TWJMVQQBOEP JM DPOGSPOUP MКаJOJ[JBUJWB F MB WFSJGJDB TVJ DPOUFOVUJ EFM QSPHSBNNB TVMMF QSBUJDIF TPDJBMJ TVMMF GPSNF PSHBOJ[[BUJWF TV VO DIJBSP PSJ[[POUF TUSBUFHJDP F DVMUVSBMF BOUJDBQJUBMJTUB DPO UVUUF MF SFBMU┬ю EJTQPOJCJMJ BE VO QSPDFTTP EJ SJBHHSFHB[JPOF EJ GPS[F DPNVOJTUF $PO RVFTUJ JOEJSJ[[J DJ SJWPMHJBNP BJ DPNQBHOJ F DPO VO EPDVNFOUP DPOHSFTTVBMF BQFSUP B DPOUSJCVUJ FE FNFOEBNFOUJ DIF EBJ UFSSJUPSJ TWJMVQQJOP F UFOHBOP BQFSUP VO QFSDPSTP EJ FMBCPSB[JPOF F EJ WFSJGJDB EBM CBTTP EFMMB MJOFB QPMJUJDB OFM DPOGSPOUP RVPUJEJBOP F OFM WJWP EFMMF MPUUF -Кб"556"-& $0/5&450 %&--" $3*4* *M TJTUFNB DBQJUBMJTUJDP DIF EB EVF TFDPMJ HVJEB MF USBTGPSNB[JPOJ TUPSJDIF TUB DPMMBTTBOEP TPUUP JM QFTP EFMMB QSPQSJB JSSB[JPOBMF TUSVUUVSB EJ BDDVNVMB[JPOF &TTP ┬ц BSSJWBUP BE VO QVOUP UBMF DIF OPO IB QJ┬х OJFOUF EJ QPTJUJWP EB PGGSJSF BMMКаVNBOJU┬ю 2VFMMB DIF TUJBNP WJWFOEP OPO ┬ц TPMP VOB DSJTJ QFSJPEJDB FWFOUP DIF DPNF DJ IB JOTFHOBUP .BSY ┬ц TUSFUUBNFOUF DPOOFTTP BM NPEP EJ QSPEV[JPOF DBQJUBMJTUJDP NB ┬ц VOB DSJTJ EJ TJTUFNB EBMMB RVBMF JM КБDBQJUBMFКц QPUS┬ю GPSTF VTDJSF TPMP JNQPOFOEP FOPSNJ TBDSJGJDJ B NJMJPOJ EJ QSPMFUBSJ HVFSSF F QFTBOUJ EJTUSV[JPOJ EJ SJDDIF[[B TPDJBMF *OGBUUJ EPQP MB DSJTJ EJ TPWSBQQSPEV[JPOF EFHMJ BOOJ КЪ EPQP MB DSJTJ EJ TPWSBQQSPEV[JPOF GJOBO[JBSJB EFJ DBQJUBMJ EJ JOJ[JP NJMMFOOJP TJ TUB PSB QSPEVDFOEP VO EFCJUP TFNQSF QJ┬х JODPOUSPMMBCJMF F EVORVF OPO QBHBCJMF -B WJB EJ VTDJUB EFM DBQJUBMF ┬ц JM NBTTBDSP EFJ MBWPSBUPSJ JO UVUUP JM NPOEP JO UFSNJOJ EJ TBMBSJP EJSJUUJ F PDDVQB[JPOF NBTTBDSP EJ UVUUF MF DPORVJTUF TPDJBMJ MBEEPWF FTTF TPOP TUBUF PUUFOVUF /PO ┬ц FTDMVTP DIF DPNF OFM КЪ TJ VTD┬е EBMMB DSJTJ DPO MB TFDPOEB HVFSSB NPOEJBMF TJ BSSJWJ BE VO DPOGMJUUP JOUFSOB[JPOBMF HFOFSBMJ[[BUP JO QBSUF HJ┬ю JOJ[JBUP B MJWFMMP QFSJGFSJDP F DPO EJWFSTB JOUFOTJU┬ю JO ,PTPWP *SBR "GHIBOJTUBO -JCJB -B DSJTJ FDPOPNJDB GJOBO[JBSJB BUUVBMF TUB FWJEFO[JBOEP DPO OJUJEF[[B BHMJ PDDIJ EJ NJMJPOJ EJ QSPMFUBSJ JM DBSBUUFSF CBSCBSJDP F JODJWJMF EFM TJTUFNB DBQJUBMJTUB TJ QSPEVDPOP QFS QPJ EJTUSVHHFSMF RVBOUJU┬ю FOPSNJ EJ HFOFSJ BMJNFOUBSJ F EJ NFEJDJOF NFOUSF JOUFSF QPQPMB[JPOJ NVPJPOP EJ GBNF F EJ CBOBMJ NBMBUUJF 4J QSPEVDPOP RVBOUJU┬ю FOPSNJ EJ BSNJ QFS DPMQJSF JOUFSF QPQPMB[JPOJ F SBQJOBSMF EFMMF MPSP NBUFSJF QSJNF NFOUSF BMUSF WFOHPOP EFDJNBUF EBMMКаJORVJOBNFOUP BNCJFOUBMF 5VUUP DJ┬« NFOUSF OFJ QBFTJ JOEVTUSJBMNFOUF QJ┬х TWJMVQQBUJ JM MBWPSP QSFDBSJP JNQFEJTDF B JOUFSF HFOFSB[JPOJ EJ QFOTBSF BM QSPQSJP GVUVSP MB EJTPDDVQB[JPOF DPMQJTDF VO HJPWBOF TV USF F HMJ PQFSBJ PDDVQBUJ TPOP DPTUSFUUJ B MBWPSBSF JO DPOEJ[JPOJ EJ TUSFTT JOBVEJUJ F QFS TBMBSJ EB GBNF 2VFTUP ┬ц RVFMMP DIF JM TJTUFNB DBQJUBMJTUB SJFTDF BE PGGSJSF BMMКаVNBOJU┬ю QFS JM 99* TFDPMP F DIF BODIF MF QFSJPEJDIF NBOPWSF HPWFSOBUJWF DPOGFSNBOP ESBNNBUJDBNFOUF %B TFNQSF MF GPS[F PQQPSUVOJTUF IBOOP PQFSBUP QFS OBTDPOEFSF MB UFOEFO[B F MB DPOEJ[JPOF TUSVUUVSBMF EJ SBQJOB TGSVUUBNFOUP F HVFSSB QSPQSJF EFJ TJTUFNJ DBQJUBMJTUJDJ BWBO[BUJ DFSDBOEP EJ GBS DSFEFSF DIF MB QPMJUJDB EFJ QBFTJ JNQFSJBMJTUJ GPTTF NPEJGJDBCJMF F SJGPSNBCJMF DIF GPTTF TVGGJDJFOUF DBNCJBSF JM OPNF EJ DIJ HVJEB JM HPWFSOP QFS DBNCJBSF MP TUBUP EJ DPTF QSFTFOUJ "M DPOUSBSJP MКаBSSJWP EJ 0CBNB BM QPTUP EJ #VTI OPO IB DFSUBNFOUF NFTTP GJOF BMMB HVFSSB JO *SBR P JO "GHIBOJTUBO DPTJ DPNF OPO IB JNQFEJUP JM CPNCBSEBNFOUP EFM QPQPMP MJCJDP $PNF OFM QBTTBUP JM EFNPDSBUJDP ,FOOFEZ JOJ[J┬« MB HVFSSB JO 7JFUOBN DPTJ J EFNPDSBUJDJ $MJOUPO F %Ка"MFNB GFDFSP MB HVFSSB BMMB +VHPTMBWJB M-B HVFSSB SBQQSFTFOUB VOКаFTJHFO[B JOUSJOTFDB BM TJTUFNB TUFTTP ┬ц MP TUSVNFOUP EJ BOOFTTJPOF DPOUSPMMP EJ BSFF UVSCPMFOUF F OPO OPSNBMJ[[BUF FE ┬ц VOB КБTPMV[JPOFКц GVO[JPOBMF BMMB SJQSPEV[JPOF F WBMPSJ[[B[JPOF EFM DBQJUBMF /PO B DBTP HMJ 64" IBOOP VOB TQFTB NJMJUBSF FOPSNF DJSDB MB NFU┬ю EJ RVFMMB NPOEJBMF FE ┬ц HSB[JF B UBMF BQQBSBUP QPMJUJDP NJMJUBSF DIF NBOUFOHPOP QFS PSB MКаFHFNPOJB NPOEJBMF "ODIF MКа*UBMJB QVS DPO MF TVF EFCPMF[[F TUSVUUVSBMJ F MКа6& HJPDBOP VO SVPMP JNQFSJBMJTUJDP F EB OPJ ┬ц JO QBSUJDPMBSF JM 1BSUJUP %FNPDSBUJDP BE JOUFSQSFUBSF MF FTJHFO[F DIF UBMF WPDB[JPOF DPNQPSUB OPO EJNFOUJDIJBNP MF FTBMUBUF QBSPMF EFM 1SFTJEFOUF /BQPMJUBOP TDIJFSBUP DPO J CPNCBSEBNFOUJ JO -JCJB " GSPOUF EJ RVFTUP TDFOBSJP MB QPTJ[JPOF EFJ DPNVOJTUJ ┬ц DPNVORVF DPOUSP MB HVFSSB F DPOUSP MКаJEFB EJ VOB TVB КБOPSNBMJU┬юКц GFSNBSF MF PQFSB[JPOJ NJMJUBSJ J CPNCBSEBNFOUJ F MF PDDVQB[JPOJ OFPDPMPOJBMJTUF ┬ц FTTFO[JBMF F OPO QV┬« BWFSF BMDVOB FDDF[JPOF TPTUFOFSF J NPWJNFOUJ EJ MJCFSB[JPOF 1BMFTUJOB RVFTUJPOF DVSEB TBIBSBXJКЕ ┬ц QBSUF EFM OPTUSP JNQFHOP BOUJNQFSJBMJTUB FE JOUFSOB[JPOBMJTUB 0DDPSSF DIJFEFSF TVCJUP JM SJUJSP EFMMF USVQQF EB UVUUJ HMJ TDFOBSJ EJ HVFSSB MB GJOF DJP┬ц EFMMF DPTJEEFUUF КБNJTTJPOJ VNBOJUBSJFКц PDDPSSF DSJUJDBSF BMMB SBEJDF JM NJMJUBSJTNP PQQPSTJ BMMF TQFTF NJMJUBSJ BMMКаBDRVJTUP F QSPEV[JPOF EJ NF[[J CFMMJDJ TFNQSF QJ┬х TPGJTUJDBUJ F MFUBMJ SJWFOEJDBSF MB GJOF EFMMКаFTFSDJUP QSPGFTTJPOBMF FE VOB QSPGPOEB SJDPOWFSTJPOF EFMMF BUUVBMJ КБGPS[F BSNBUFКц TFDPOEP VO NPEFMMP EJ EJGFTB QPQPMBSF F QSPUF[JPOF DJWJMF QBSUFDJQBUP EB UVUUJ J DJUUBEJOJ DPFSFOUF DPO J EFUUBNJ EFMMB $PTUJUV[JPOF ┬ц OFDFTTBSJP JNQFEJSF MB NJMJUBSJ[[B[JPOF EFM UFSSJUPSJP MPUUBSF DPOUSP MКаFTUFOTJPOF P MКаBQFSUVSB EJ OVPWF CBTJ NJMJUBSJ F QFS MB DIJVTVSB EJ RVFMMF FTJTUFOUJ SJMBODJBSF MКаPCJFUUJWP GPOEBNFOUBMF EFMMКаVTDJUB EBMMB /"50 -B TJUVB[JPOF TPDJBMF F QPMJUJDB QSPEPUUB EBMMB DSJTJ FE BODIF J SFDFOUJ QSPWWFEJNFOUJ FWJEFO[JBOP VOB DSFTDFOUF JOTUBCJMJU┬ю EFHMJ BTTFUUJ EJ QPUFSF VOB DSJTJ FWJEFOUF EFM CMPDDP TPDJBMF DIF IB TPTUFOVUP J HPWFSOJ EJ DFOUSPEFTUSB VOB GPSUF QPUFO[JBMJU┬ю EJ DBNCJBNFOUP FTQSFTTB EB JNQPSUBOUJ MPUUF EFJ MBWPSBUPSJ EJQFOEFOUJ F EFJ QSFDBSJ EFMMF EPOOF EFJ NJHSBOUJ QFS J EJSJUUJ TPDJBMJ OFJ UFSSJUPSJ F TVJ CFOJ DPNVOJ NB BM UFNQP TUFTTP RVFTUB TJUVB[JPOF NPTUSB UVUUB MB JOBEFHVBUF[[B EFMMB TJOJTUSB B JOEJDBSF VOB DIJBSB QSPTQFUUJWB EJ BMUFSOBUJWB BM DBQJUBMJTNP F MB NBODBO[B EJ VOB BEFHVBUB SBQQSFTFOUBO[B QPMJUJDB EFMMB DMBTTF
-" 26&45*0/& %&--Кб6/*0/& &6301&" & -" 13041&55*7" */5&3/";*0/"-*45" "M EJ M┬ю EJ PHOJ JMMVTJPOF MB OBUVSB FE JM SVPMP JNQFSJBMJTUB EFMMКа6OJPOF &VSPQFB TPOP TFNQSF TUBUJ CFO FWJEFO[JBUJ EBJ DPOUFOVUJ EFJ USBUUBUJ EJ .BBTUSJDIU "NTUFSEBN F -JTCPOB * WJODPMJ FDPOPNJDJ F GJOBO[JBSJ JNQPTUJ BJ WBSJ 1BFTJ MB GPSUF DPODFOUSB[JPOF NPOPQPMJTUJDB JM EPNJOJP F MB SJDFSDB EFM NBTTJNP QSPGJUUP EFMMB HSBOEF CPSHIFTJB TUBOOP NFUUFOEP TFSJBNFOUF JO QFSJDPMP MB TUFTTB TPWSBOJU┬ю EFJ TJOHPMJ 4UBUJ EFMMКа6OJPOF -B WJDFOEB HSFDB OF ┬ц TPMP MКаFTFNQJP QJ┬х QBMFTF F UFOEF B SJQSPEVSTJ BODIF JO BMUSJ QBFTJ QJ┬х EFCPMJ JWJ DPNQSFTB MКа*UBMJB -F HSBOEJ CBODIF F MF NVMUJOB[JPOBMJ EJ NBUSJDF FVSPQFB QBSUFDJQBOP QJFOBNFOUF BMMB HVJEB TQBSUJ[JPOF F TQPMJB[JPOF EFMMКаFDPOPNJB HMPCBMJ[[BUB -B CPSHIFTJB EFM WFDDIJP DPOUJOFOUF QVS USB MF JOFWJUBCJMJ DPOUSBEEJ[JPOJ USB J WBSJ DPOUFTUJ OB[JPOBMJ IB MVOHBNFOUF F HSBOEFNFOUF CFOFGJDJBUP EFMMF SFHPMF BOUJEFNPDSBUJDIF F EFMMB MPHJDB NPOFUBSJTUB DIF DPTUJUVJTDPOP MB CBTF NBUFSJBMF EFMMКа6OJPOF &VSPQFB -B TPMB JOUSPEV[JPOF EFMMКаFVSP IB DPNQPSUBUP VOB QFTBOUF TWBMVUB[JPOF EJ TBMBSJ TUJQFOEJ F QFOTJPOJ QFS NJMJPOJ EJ MBWPSBUPSJ F DJUUBEJOJ FVSPQFJ "ODIF VOB QBSUF EFMMF GPS[F EJ BMUFSOBUJWB DPNF MB 4JOJTUSB &VSPQFB TPOP TUBUF JOBEFHVBUF F DPOUSBEEJUUPSJF OPO CBTUB QJ┬х VO HFOFSJDP BQQFMMP BE КБVOКаBMUSB &VSPQBКц PDDPSSF DIJBNBSF MB QBSUF QJ┬х BWBO[BUB EFM QSPMFUBSJBUP EFMMB DMBTTF MBWPSBUSJDF JUBMJBOB FE FVSPQFB B VOJSTJ QFS EJSF /0 BM HPWFSOP VOJDP EFMMF CBODIF BM NBTTBDSP TPDJBMF FE BMMB EFWBTUB[JPOF BNCJFOUBMF QFS SPNQFSF MB HBCCJB JNQFSJBMJTUB F DPTUSVJSF VOКа&VSPQB EJ DPPQFSB[JPOF USB J QPQPMJ EJ QBDF F CFOFTTFSF VOКа&VSPQB EPWF MF UBTTF TJBOP NFTTF TVJ QSPGJUUJ MF SFOEJUF FE J QBUSJNPOJ QFS SFEJTUSJCVJSF SJDDIF[[B TVJ TBMBSJ MF QFOTJPOJ F MP TUBUP TPDJBMF %J GSPOUF BJ OVPWJ EJLUBU EFMMB #$& B DVJ TJ JODIJOBOP TJB J HPWFSOJ EJ DFOUSPEFTUSB DIF RVFMMJ EJ DFOUSPTJOJTUSB SJUFOJBNP VSHFOUF MBODJBSF MB QBSPMB EКаPSEJOF EJ OPO QBHBSF JM EFCJUP BJ QPUFSJ GPSUJ F P SJWFOEJDBSOF VOB DPODSFUB NPSBUPSJB $PMPSP DIF IBOOP DSFBUP RVFTUP EJTBTUSP FDPOPNJDP TPOP HMJ TUFTTJ DIF PHHJ DJ EJDPOP DIF TPMP QBHBOEP JM EFCJUP TJ FWJUFS┬ю MB CBODBSPUUB /PJ QFOTJBNP MКаFTBUUP DPOUSBSJP QBHBSF JM EFCJUP TJHOJGJDB DPOUJOVBSF BE FSPHBSF TPMEJ QVCCMJDJ BMMB TQFDVMB[JPOF GJOBO[JBSJB BJ HSVQQJ NPOPQPMJTUJDJ JOEVTUSJBMJ BM TJTUFNB CBODBSJP BTTJDVSBUJWP 4JHOJGJDB QSJWBUJ[[BSF F MJCFSBMJ[[BSF UVUUP DPMQJSF BODPS QJ┬х EVSBNFOUF MF QFOTJPOJ FE J MBWPSBUPSJ EFDSFUBSF MB GJOF EJ DJ┬« DIF SFTUB EFMMP TUBUP TPDJBMF DPNF DIJFEF MB $POGJOEVTUSJB $BODFMMBSF JM EFCJUP TJHOJGJDB UPHMJFSF MКаBDRVB DPO DVJ TJ BCCFWFSB MB HSBOEF CPSHIFTJB TJHOJGJDB MJCFSBSF FOPSNJ SJTPSTF QFS VO OVPWP SVPMP QVCCMJDP SJTBOBSF JM OPTUSP QBFTF SJMBODJBSF F SJDPOWFSUJSF VOB FDPOPNJB QSPEVUUJWB TFDPOEP VO NPEFMMP CBTBUP TVJ CJTPHOJ TPDJBMJ F DPNQBUJCJMF DPO MКаBNCJFOUF -B DBODFMMB[JPOF EFM EFCJUP DJ QFSNFUUFSFCCF EBWWFSP EJ EJGFOEFSF J CFOJ DPNVOJ SJMBODJBSF MB SJDFSDB MB TDVPMB QVCCMJDB FMJNJOBSF JM QSFDBSJBUP F MB EJTPDDVQB[JPOF NJHMJPSBSF MB TBOJU┬ю F EBSF VOB DBTB B UVUUJ /PO BCCJBNP BMUSB TDFMUB EPCCJBNP MPUUBSF QFS DIJVEFSF JM GJVNF EJ EFOBSP DIF RVPUJEJBOBNFOUF TDPSSF EBMMF DBTTF EFMMP TUBUP 4JBNP DPOTBQFWPMJ DIF RVFTUP TJHOJGJDB NFUUFSF JO EJTDVTTJPOF HMJ BUUVBMJ SBQQPSUJ EJ QPUFSF NB DJ TFNCSB DIF JM DPNQJUP EFJ DPNVOJTUJ EFCCB FTTFSF RVFTUP F OPO BMUSP 1J┬х JO HFOFSBMF ┬ц OFDFTTBSJP VO TBMUP EJ RVBMJU┬ю OFMMB MPUUB DPOUSP RVFTUB КБ&VSPQBКц F EPQP EJFDJ BOOJ EJ NPOFUB VOJDB FVSPQFB F EJ NBDFMMFSJB TPDJBMF OPO ┬ц QJ┬х QPTTJCJMF SJNBOEBSF VOB SJGMFTTJPOF DIF GBDDJB VO CJMBODJP EJ UBMF FTQFSJFO[B F EFGJOJTDB TDFMUF DPODSFUF EJ SPUUVSB DPO RVFTUB КБ&VSPQBКц JWJ DPNQSFTB MB TUFTTB PQ[JPOF EJ VTDJUB EB RVFTUB 6& *O RVFTUP TFOTP PDDPSSF QSPDFEFSF JO UFNQJ CSFWJ BMMB DPTUJUV[JPOF EJ VO DPPSEJOBNFOUP FVSPQFP BODIF PMUSF MB 4& USB UVUUF MF GPS[F BOUJDBQJUBMJTUF F DPNVOJTUF BMMP TDPQP EJ PSHBOJ[[BSF JOJ[JBUJWF DPNVOJ EJ MPUUB B QBSUJSF EBM SJGJVUP EJ PCCFEJSF BMMF EJSFUUJWF EFMMB #BODB $FOUSBMF &VSPQFB #$& %J GSPOUF BMMКаBUUBDDP DBQJUBMJTUJDP PSNBJ TV TDBMB HMPCBMF TJ USBUUB EJ SJQSFOEFSF VO QFSDPSTP EJ SJUFTTJUVSB EJ VOB КБJOUFSOB[JPOBMF DPNVOJTUBКц TVQFSBOEPOF MB WFDDIJB WJTJPOF NPOPMJUJDB WFSUJDJTUJDB F CVSPDSBUJDB DPTUSVFOEP SBQQPSUJ F MFHBNJ DPO MF DPODSFUF SFBMU┬ю EJ MPUUB DPO MF FTQFSJFO[F DIF OFJ WBSJ QBFTJ NBOUFOHPOP WJTJCJMF JM MPSP JNQFHOP BOUJDBQJUBMJTUB F QFS VOB QSPTQFUUJWB DPNVOJTUB 2VFTUP QFSDPSTP EPWS┬ю TWJMVQQBSTJ JO NPEP EFNPDSBUJDP F DPO VO DPTUBOUF DPOGSPOUP QMVSBMJTUJDP DIF SJGVHHB EB PHOJ UFOUB[JPOF FHFNPOJDB F GBDDJB UFTPSP EFHMJ FSSPSJ F EFMMF TDPOGJUUF EFMMF FTQFSJFO[F TUPSJDIF EFM NPWJNFOUP PQFSBJP JOUFSOB[JPOBMF DIF IBOOP QPSUBUP BMMКа FE BHMJ TDFOBSJ TVDDFTTJWJ * $0/'-*55* 40$*"-* & -" 26&45*0/& 4*/%"$"-& *M WFSS┬ю SJDPSEBUP OFMMB TUPSJB EFM NPWJNFOUP PQFSBJP JUBMJBOP DPNF MКаBOOP EFM NJDJEJBMF BUUBDDP QPMJUJDP BJ EJSJUUJ TPDJBMJ F TJOEBDBMJ OFJ MVPHIJ EJ MBWPSP MКаBOOP JO DVJ JM HSBOEF QBESPOBUP DPO JO UFTUB MB 'JBU IB DFSDBUP EJ JNQPSSF MB DFOUSBMJU┬ю EFMMКаJNQSFTB DPNF VOJDP PSJ[[POUF QPTTJCJMF -КаPCJFUUJWP EJDIJBSBUP EJ .BSDIJPOOF ┬ц JOGBUUJ MКаFMJNJOB[JPOF EJ PHOJ EJGFTB JOEJWJEVBMF F DPMMFUUJWB EB QBSUF EFJ MBWPSBUPSJ F QFSDI┬Ц DJ┬« TJB QPTTJCJMF WB FMJNJOBUB MB QSFTFO[B EJ RVBMTJBTJ TJOEBDBUP DIF OPO TJ SJDPOPTDB QJFOBNFOUF OFMMB MPHJDB EFMMКаB[JFOEB OFJ TVPJ PCJFUUJWJ F QSJPSJU┬ю /POPTUBOUF MP TDJPQFSP HFOFSBMF EFM TFUUFNCSF JOEFUUP EBMMB $(*- DPOUSP MКаJOBDDFUUBCJMF NBOPWSB FDPOPNJDB EFM (PWFSOP MB $BNVTTP DPO MB GJSNB EFM (JVHOP F EFM DPTJEEFUUP 1BUUP QFS MB DSFTDJUB JOTJFNF B $*4- F 6*- SJQSFOEF MB TUSBEB GBMMJNFOUBSF EFMMB DPODFSUB[JPOF B TPTUFHOP EFMMB MJCFSU┬ю EJ DPNQFUFSF EFMMКаJNQSFTB FE B TDBQJUP EFJ EJSJUUJ F EFHMJ JOUFSFTTJ EFJ MBWPSBUPSJ (MJ PQFSBJ DPNCBUUJWJ F UVUUJ DPMPSP DIF OPO WPHMJPOP QJFHBSF MB UFTUB DPNF MF FTQFSJFO[F EJ MPUUB QJ┬х BWBO[BUF DPNF MB 'JPN JM
TJOEBDBMJTNP EJ CBTF TPOP BWWJTBUJ MB SBQQSFTBHMJB TBS┬ю VTBUB DPNF VOB DPSEB QSPOUB B TUSJOHFSTJ BUUPSOP BM DPMMP QFS FMJNJOBSF RVBMTJBTJ FMFNFOUP EJ EJTUVSCP BM OVPWP PSEJOF B[JFOEBMF BMMB MJCFSU┬ю EКаJNQSFTB FE BMMКаVTP EFM EVNQJOH TPDJBMF DPNF FMFNFOUP GPOEBOUF EFMMB DPODPSSFO[B TVJ NFSDBUJ *OTPNNB .BSDIJPOOF #POBOOJ "OHFMFUUJ F PSB BODIF MB $BNVTTP TUBOOP EFOUSP TJB QVS DPO MF MPSP EJGGFSFO[F BE VOB TUSBUFHJB EJ VTDJUB EBMMB DSJTJ RVFMMB EFMMКаB[JFOEB HMPCBMF TFO[B WJODPMJ OB[JPOBMJ P UFSSJUPSJBMJ F TFO[B BMDVOB КБSFTQPOTBCJMJU┬ю TPDJBMFКц DIF QVOUB B USPWBSF J MVPHIJ EJ JOTFEJBNFOUP EJ NBHHJPS WBOUBHHJP HJPDBOEP TV QSPDFTTJ QSPEVUUJWJ TUBOEBSEJ[[BUJ BM NBTTJNP F DPOEJ[JPOJ MPDBMJ EJGGFSFO[JBUF MJWFMMJ TBMBSJBMJ GMFTTJCJMJU┬ю BJVUJ EJ TUBUP DPNF OFHMJ 6TB P JO 4FSCJB MJCFSU┬ю TJOEBDBMJ FDD 4VM QJBOP TJOEBDBMF JM КБQJBOP .BSDIJPOOFКц IB BGGPOEBUP JM TVP CJTUVSJ JO TUSVUUVSF TQBQQPMBUF EB BMNFOP EVF EFDFOOJ EJ КБDPOTPDJBUJWJTNPКц OFM DPSTP EFJ RVBMJ ┬ц TUBUB TFMF[JPOBUB VOB DBTUB CVSPDSBUJDB BEBUUB BMMB USBUUBUJWB QVSDIFTTJB F PSNBJ BWWFSTB B RVBMTJBTJ QSBUJDB DPOGMJUUVBMF 4VM QJBOP QPMJUJDP PMUSF DIF TVMMКаBQQPHHJP TDPOUBUP EFM DFOUSPEFTUSB .BSDIJPOOF QV┬« DPOUBSF OFJ GBUUJ TVM TPTUFHOP EFM 1% DIF WVPMF GBS DSFEFSF DIF JM DBQJUBMJTNP TJ QPTTB VNBOJ[[BSF F EFNPDSBUJ[[BSF F DIF BWFWB SJUFOVUP BEEJSJUUVSB JOPQQPSUVOP MP TDJPQFSP HFOFSBMF JOEFUUP EBMMB $(*- JO OPNF EFMMB КБSFTQPOTBCJMJU┬юКц OB[JPOBMF JOWPDBUB EB /BQPMJUBOP %J GSPOUF B RVFTUP EJTBTUSP ┬ц OFDFTTBSJP DIF JO UVUUJ J MVPHIJ EJ MBWPSP TJ BQSB VO BNQJP EJCBUUJUP BOEBOEP PMUSF MF BQQBSUFOFO[F B RVFTUP P RVFM TJOEBDBUP B RVFTUB P RVFMMКаBSFB TJOEBDBMF &Ка OFDFTTBSJP DIF J MBWPSBUPSJ QJ┬х DPNCBUUJWJ TJ DPPSEJOJOP SJQSFOEBOP MB QBSPMB F SJQBSUBOP EB TF TUFTTJ EBJ MVPHIJ EJ MBWPSP QFS SJMBODJBSF VO NPWJNFOUP VOJUBSJP EJ EFMFHBUJ F BUUJWJTUJ QFS MB SJDPTUSV[JPOF EJ VO TJOEBDBMJTNP EJ DMBTTF $POUJOVBSF B OPO DPNVOJDBSF F BHJSF TPMP OFM SFDJOUP EFM QSPQSJP PSUJDFMMP GBWPSJTDF TPMP HMJ BWWFSTBSJ F MF DPOUSPQBSUJ *O RVFTUB EJSF[JPOF MF JOJ[JBUJWF BVUPDPOWPDBUF DPNF RVFMMB EFMMF PQQPTJ[JPOJ TPDJBMJ TJOEBDBMJ F QPMJUJDIF EFM QSJNP PUUPCSF F MF NBOJGFTUB[JPOJ FVSPQFF EFM PUUPCSF QSPNPTTF EBHMJ КБJOEJHOBUJКц SBQQSFTFOUBOP JOTJFNF B UVUUJ J NPWJNFOUJ DIF TJ CBUUPOP QFSJ CFOJ DPNVOJ F J EJSJUUJ TPDJBMJ NPNFOUJ JNQPSUBOUJ F RVBMJGJDBOUJ EB TWJMVQQBSF OFJ UFSSJUPSJ QFS SJDPNQPSSF VO BNQJP GSPOUF EJ SFTJTUFO[B BMMB DSJTJ "GGJODI┬Ц RVFTUP QSPHFUUP BCCJB HBNCF QFS DBNNJOBSF ┬ц OFDFTTBSJP DIF J UBOUJ DPNQBHOJ DPNVOJTUJ TJ EFDJEBOP B GBSF VO CJMBODJP DSJUJDP F BVUPDSJUJDP EFM MBWPSP QPMJUJDP F TJOEBDBMF TWPMUP OFMMB $(*- F OFM TJOEBDBMJTNP EJ CBTF OFHMJ VMUJNJ BOOJ /FM SJTQFUUP EFMMКаBVUPOPNJB EFJ NPWJNFOUJ TJOEBDBMJ EJWFOUB QSJPSJUBSJP SJDPTUSVJSF JO VO SBQQPSUP EJBMFUUJDP DPO MF WBSJFHBUF SFBMU┬ю EFJ MBWPSBUPSJ EFJ QSFDBSJ EFJ EJTPDDVQBUJ F DPO MF QBSUJDPMBSJ DPOEJ[JPOJ EJ MBWPSP EFJ NJHSBOUJ VOB MJOFB TJOEBDBMF EJ DMBTTF CBTBUB TV QSFDJTJ DPOUFOVUJ FE PCJFUUJWJ DIF DBSBUUFSJ[[J MКаJOJ[JBUJWB EFJ DPNVOJTUJ BM EJ M┬ю EFMMB MPSP FTQFSJFO[B F DPMMPDB[JPOF TJOEBDBMF 1SJPSJUBSJP PHHJ ┬ц DPOUSBTUBSF JO QBSUJDPMBSF OFMMB $(*- RVBMTJBTJ JQPUFTJ DPODFSUBUJWB TVQFSBSF J MJNJUJ QSFTFOUJ OFM TJOEBDBMJTNP EJ CBTF GSBNNFOUB[JPOF TFUUBSJTNPКЕ GBWPSJSF MКаVOJU┬ю EFJ MBWPSBUPSJ F JM DPMMFHBNFOUP EFMMF MPUUF /PO MB QSFTFO[B OFHMJ BQQBSBUJ TJOEBDBMJ NB J DPOUFOVUJ FE JM SVPMP OFMMF MPUUF EFWPOP UPSOBSF BE FTTFSF JM SJGFSJNFOUP WJODPMBOUF QFS EBSF DPOUJOVJU┬ю F DSFEJCJMJU┬ю BMMB OPTUSB JOJ[JBUJWB OFM NPWJNFOUP PQFSBJP F TJOEBDBMF 1J┬х JO HFOFSBMF MB SFBMF QSFTFO[B OFJ DPOGMJUUJ TPDJBMJ MB DBQBDJU┬ю EJ QSPNVPWFSMJ F PSJFOUBSMJ SBQQSFTFOUBOP FMFNFOUJ DPTUJUVFOUJ EJ VO OVPWP QSPDFTTP EJ SJDPTUSV[JPOF EFMMB SBQQSFTFOUBO[B EJ DMBTTF F EJ SJBHHSFHB[JPOF EJ SFBMU┬ю DPNVOJTUF F BOUJDBQJUBMJTUF 6O FMFNFOUP FTTFO[JBMF QFS DBQJSF HMJ FSSPSJ DPNQJVUJ TVQFSBSF MF SFBMJ EJWFSHFO[F DSJUJDBSF JM DBSBUUFSF TFQBSBUP F EJ DFUP QPMJUJDP EVORVF NPEFSBUP DIF IB DBSBUUFSJ[[BUP MКаFTQFSJFO[B EFMMB 4JOJTUSB "SDPCBMFOP F QJ┬х SFDFOUFNFOUF MB TUFTTB PQFSB[JPOF EFMMB 'FEFSB[JPOF EFMMB 4JOJTUSB ."((*03*5"3*0 4#"33".&/5* #*10-"3*4.0 & 13*."3*& -" КЦ%&.0$3";*"Кд $)& 4&37& "* $"1*5"-*45* &% "- $&50 10-*5*$0 *M TJTUFNB DBQJUBMJTUJDP OFMMB GBTF EFMMB NBTTJNB EJGGVTJPOF DPJODJEFOUF DPO MB TVB DSJTJ EJ TPWSBQQSPEV[JPOF IB CJTPHOP EJ VOB КБEFNPDSB[JBКц DIF TJB TFNQMJDF HFTUJPOF EFMMF NBTTF F HBSBOUJTDB JM NBTTJNP DPOUSPMMP QPMJUJDP EFMMB TPDJFU┬ю JM QFSQFUVBSTJ EFM EPNJOJP EJ DMBTTF F TPQSBUUVUUP DIF NBOUFOHB MVCSJGJDBUB MB TVB NBDDIJOB FDPOPNJDB BUUSBWFSTP JM DPOTVNP DPOUJOVP F UPUBMJ[[BOUF EJ PHOJ BTQFUUP EFMMB WJUB 6OP EFHMJ TUSVNFOUJ QFS PUUFOFSF RVFTUP TJNVMBDSP EJ EFNPDSB[JB ┬ц TUBUB MB TPTUJUV[JPOF EFM TJTUFNB FMFUUPSBMF QSPQPS[JPOBMF QSFWJTUP EBMMB OPTUSB $PTUJUV[JPOF DPO RVFMMP NBHHJPSJUBSJP $PO JM NBHHJPSJUBSJP FE JM DPOTFHVFOUF CJQPMBSJTNP CJQBSUJUJTNP MF DMBTTJ TVCBMUFSOF OPO IBOOP MB QPTTJCJMJU┬ю EJ FTQSJNFSF QBSUFOEP EBJ QSPQSJ CJTPHOJ QSPHSBNNJ F DBOEJEBUJ BEFHVBUJ DIF TPOP JOWFDF TDFMUJ EBMMКаBMUP EB TFHSFUFSJF EJ QBSUJUJ DIF IBOOP BDDFUUBUP JM QSJNBUP EFMMКаJNQSFTB *M NBHHJPSJUBSJP FE BODIF MP TUFTTP NFDDBOJTNP EFMMF QSJNBSJF QFSTPOBMJ[[BOP MB QPMJUJDB MB SFOEPOP JOEJWJEVBMJTUB F BDDFOUVBOP JM QSPDFTTP EJ EFMFHB GBDFOEP DSFEFSF BMMF DMBTTJ TVCBMUFSOF DIF FTJTUF MКаVPNP EFMMB QSPWWJEFO[B JO HSBEP EJ SJTPMWFSF UVUUP *O RVFTUP NPEP TJ NJTUJGJDB MB SFBMU┬ю F TJ EFTUSVUUVSB MКаJEFB DIF MB QPMJUJDB F MB TUPSJB MB GBOOP MF DMBTTJ PSHBOJ[[BUF F DIF J TJOHPMJ JOEJWJEVJ DIF FNFSHPOP TPOP JM QSPEPUUP EJ RVFMMF GPS[F 0DDPSSF RVJOEJ MBODJBSF VOB MPUUB DPOUSP RVFTUP TJTUFNB FMFUUPSBMF USVGGBMEJOP JOUSPEPUUP JO *UBMJB OFHMJ BOOJ /PWBOUB HSB[JF BJ MJCFSBMJ EJ 4FHOJ F BM 1%4 EJ 0DDIFUUP BNQMJBUP QPJ DPO MB SJGPSNB EFM 5JUPMP 7 EFMMB $PTUJUV[JPOF DIF E┬ю B TJOEBDJ F QSFTJEFOUJ EJ 1SPWJODF F 3FHJPOJ QPUFSJ EFDJTJPOBMJ BCOPSNJ TWJMFOEP JM SVPMP EFMMF BTTFNCMFF FMFUUJWF КЏ F QFHHJPSBUP DPO MB SJGPSNB $BMEFSPMJ EFUUB КБ1PSDFMMVNКц DIF DPODFEF MКаBTTVSEP QSFNJP EJ NBHHJPSBO[B F WBOJGJDB JM QSJODJQJP DPTUJUV[JPOBMF EJ FHVBHMJBO[B USB J DJUUBEJOJ OFMMКаFTQSFTTJPOF EFM WPUP
2VFTUP TJTUFNB FMFUUPSBMF NBHHJPSJUBSJP F CJQPMBSF TJ GPOEB TVMMB MPHJDB EFMMКаBMUFSOBO[B DIF UFOEF B DPOWFSHFSF BM DFOUSP F UPHMJF SBQQSFTFOUBO[B BMMF FTQSFTTJPOJ BMUFSOBUJWF FE BOUBHPOJTUF BM DBQJUBMJTNP КцКцDPTUSFUUFКц BE BDDPSEJ FMFUUPSBMJ TVCBMUFSOJ NPSUJGJDBOEP DPT┬е MP TUFTTP QSJODJQJP EJ SBQQSFTFOUBO[B EFNPDSBUJDB 4FSWF JO VOB QBSPMB BE FTDMVEFSF MB DMBTTF EB RVBMTJBTJ QPTTJCJMJU┬ю EJ VUJMJ[[BSF JM UFSSFOP JTUJUV[JPOBMF QFS EJGFOEFSF J QSPQSJ JOUFSFTTJ F RVJOEJ BNQMJBSF HMJ TQB[J EJ BHJCJMJU┬ю EFNPDSBUJDB OFMMB TPDJFU┬ю %PCCJBNP CBUUFSDJ QFS UPSOBSF BM QSPQPS[JPOBMF TFO[B DPSSFUUJWJ P TCBSSBNFOUJ SJQSFOEFOEP MКаJNQJBOUP EFMMB $PTUJUV[JPOF EFM QFS FWJUBSF JM HSBWJTTJNP SJTDIJP EJ КБSJGPSNFКц JWJ DPNQSFTF MF QSJNBSJF OFMMF EJWFSTF BSUJDPMB[JPOJ QSPQPTUF DIF MF WBSJF GPS[F EJ HPWFSOP F EJ PQQPTJ[JPOF QSFTFOUBOP DPNF NPEFSOF F EJ КцBHHJPSOBNFOUPКц EFMMB $PTUJUV[JPOF F QFS UPHMJFSF RVBMTJBTJ BMJCJ QFS BMMFBO[F TVCBMUFSOF EB QBSUF EFMMB TJOJTUSB DPNF BWWFOVUP OFHMJ VMUJNJ BOOJ -B EJGFTB EFM SVPMP EFMMF BTTFNCMFF FMFUUJWF F MB QSPNP[JPOF EJ FTQFSJFO[F EJ QBSUFDJQB[JPOF QPQPMBSF EBM CBTTP OFMMB HFTUJPOF EFMMB DPTB QVCCMJDB DPOUSP MF QSJWBUJ[[B[JPOJ F QFS MB EJGFTB EFJ TFSWJ[J TPDJBMJ WB DPMMFHBUB BMMB EFOVODJB GPSUF F QVOUVBMF EJ UVUUJ HMJ BTQFUUJ EFHFOFSBUJWJ EFM DFUP QPMJUJDP JTUJUV[JPOBMF TUJQFOEJ QSJWJMFHJ CVSPDSB[JB 2VFTUJ TPOP JM GSVUUP EJ VOB DPODF[JPOF EFMMB QPMJUJDB TFQBSBUB EBMMB WJUB RVPUJEJBOB EFMMF QFSTPOF F DPOTJEFSBUB DPNF КБNFTUJFSF DBSSJFSBКц DPODF[JPOF DIF IB GBUUP CSFDDJB BODIF B TJOJTUSB F OFM OPTUSP QBSUJUP DPO GFOPNFOJ EJ EFUFSJPSF JTUJUV[JPOBMJTNP EJ USBTGPSNJTNP F DMJFOUFMJTNP MFHBUJ B MPHJDIF EJ QPUFSF QFSTPOBMF P EJ DPSSFOUF 4PMP QSBUJDBOEP OFM WJWP EFMMP TDPOUSP TPDJBMF VOB SFBMF EJWFSTJU┬ю FE FTUSBOFJU┬ю EB RVFTUP TJTUFNB F EVORVF GBDFOEP QVMJ[JB BODIF OFM OPTUSP QBSUJUP EJ DFSUJ DPNQPSUBNFOUJ TBS┬ю QPTTJCJMF SJMBODJBSF JM WBMPSF BMUP EFMMB QPMJUJDB F JNQFEJSF RVBMTJBTJ EFSJWB BVUPSJUBSJB F RVBMVORVJTUB DIF TUSVNFOUBMJ[[J JM EJGGVTP F MFHJUUJNP NBMDPOUFOUP QPQPMBSF DPOUSP MB КБDBTUBКц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КаBMUFSOBUJWB B #FSMVTDPOJ GVPSJ EBMMB SFBMU┬ю TCBHMJBUF F TVCBMUFSOF QSPQSJP QFSDI┬Ц MB RVFTUJPOF EFNPDSBUJDB ┬ц JO RVFTUB TJUVB[JPOF TFNQSF QJ┬х JOUSFDDJBUB B RVFMMB TPDJBMF F OPO QV┬« FTTFSF SJTPMUB EB VOB DPBMJ[JPOF EJ DFOUSPTJOJTUSB F EB VO QBSUJUP JM 1% DIF EJNPTUSBOP PHOJ HJPSOP EJ FTTFSF TVCBMUFSOJ BMMF КБEJSFUUJWFКц EFJ QPUFSJ GPSUJ FDPOPNJDP GJOBO[JBSJ F JOUFSOJ BMMF DPNQBUJCJMJU┬ю EFM DBQJUBMJTNP DSJTJ HVFSSF КБVNBOJUBSJFКц MPUUF PQFSBJF GJBU HSBOEJ PQFSF QSJWBUJ[[B[JPOJ RVFTUJPOF NPSBMF *M 13$ JOTJFNF B UVUUB MB TJOJTUSB BOUJDBQJUBMJTUB IB PWWJBNFOUF JM DPNQJUP EJ FTTFSF JO QSJNB GJMB QFS DBDDJBSF TDPOGJHHFSF #FSMVTDPOJ NB QFS TWPMHFSF VO SVPMP FGGFUUJWP ┬ц BMUSFUUBOUP FTTFO[JBMF SJDPTUSVJSF EB TVCJUP VO QSPGJMP JOEJQFOEFOUF FE BMUFSOBUJWP BM 1% QFS OPO SJUSPWBSTJ OVPWBNFOUF TUSJUPMBUJ JO VO RVBESP QPMJUJDP UVUUP JOUFSOP BMMF DPNQBUJCJMJU┬ю F JO VOB TJUVB[JPOF TPDJBMF BODPS QJ┬х ESBNNBUJDB SJTQFUUP BJ UFNQJ EFMMКаVMUJNP (PWFSOP 1SPEJ 1J┬х JO HFOFSBMF OPO ┬ц QFOTBCJMF SJGPOEBSF VO QBSUJUP DPNVOJTUB TFO[B DPHMJFSF MКаJNQPSUBO[B EFMMB MPUUB QFS MB EFNPDSB[JB F QFS MКаBUUVB[JPOF EFMMB $PTUJUV[JPOF GBDFOEP QSPQSJ HMJ PCJFUUJWJ EFMMB 3FTJTUFO[B F EFJ $PTUJUVFOUJ PWWFSP MКаFHVBMJUBSJTNP MКаBOUJGBTDJTNP F MB QPTTJCJMJU┬ю QFS MF DMBTTJ TVCBMUFSOF EJ QSFOEFSF JO NBOP F DBNCJBSF MB EJSF[JPOF EFMMB DPTB QVCCMJDB F EFMMКаFDPOPNJB -КаJNQFHOP F MB WJHJMBO[B BOUJGBTDJTUB NBOUFOHPOP UVUUB MB MPSP BUUVBMJU┬ю QFS JNQFEJSF DIF OFMMB DSJTJ FDPOPNJDB EJMBHIJOP SB[[JTNJ F HVFSSF USB QPWFSJ #"45" 10-*5*$)& (07&3/*45& 0QQPTJ[JPOF TPDJBMF F BOUJDBQJUBMJTNP 6OJSF F GBS DSFTDFSF MF EJWFSTF MPUUF EJ SFTJTUFO[B BMMB DSJTJ SBQQSFTFOUB JM DPNQJUP JNNFEJBUP QFS TWJMVQQBSF VO GPSUF NPWJNFOUP EJ PQQPTJ[JPOF TPDJBMF F QPMJUJDP DPOUSP MF EJSFUUJWF EFMMB #BODB $FOUSBMF &VSPQFB DPOUSP MF NBOPWSF BOUJQPQPMBSJ EFM (PWFSOP FE J WBSJ QBUUJ USB MF QBSUJ TPDJBMJ JWJ DPNQSFTP RVFMMP EFMMP TDPSTP HJVHOP /FMMКаBNCJUP EJ RVFTUP NPWJNFOUP DIF TUB DSFTDFOEP JO RVFTUJ NFTJ EBMMКаBQQFMMP КБEPCCJBNP GFSNBSMJ Кц BMMF WBSJF FTQFSJFO[F OFJ MVPHIJ EJ MBWPSP F OFJ UFSSJUPSJ QV┬« F EFWF SJBHHSFHBSTJ VOB TJOJTUSB BOUJDBQJUBMJTUB QMVSBMF OFMMF TPHHFUUJWJU┬ю NB OFDFTTBSJBNFOUF DBSBUUFSJ[[BUB EB VO QSPHSBNNB F EB VOB QSBUJDB JOEJQFOEFOUF FE BMUFSOBUJWB BM DFOUSPEFTUSB F BM DFOUSPTJOJTUSB RVBMF DPOEJ[JPOF QFS FTTFSF DSFEJCJMF SJGFSJNFOUP EFJ NPWJNFOUJ F QFS JODJEFSF TVMMF TUFTTF DPOUSBEEJ[JPOJ FTJTUFOUJ OFM 1% F OFMMB TVB CBTF TPDJBMF /PO QBHBSF JM EFCJUP VO QSPHSBNNB QFS SFTJTUFSF BMMB DSJTJ /PO QBHBSF JM EFCJUP OB[JPOBMJ[[BSF MF QSJODJQBMJ CBODIF DPMQJSF MB TQFDVMB[JPOF GJOBO[JBSJB F MКаFWBTJPOF GJTDBMF UBTTBSF J HSBOEJ QBUSJNPOJ FE J SFEEJUJ BMUJ UBHMJBSF MF TQFTF NJMJUBSJ F SJUJSBSTJ TVCJUP EBHMJ TDFOBSJ EJ HVFSSB GFSNBSF MF HSBOEJ PQFSF JOVUJMJ F EBOOPTF DPNF MB 5"7 JM 1POUF TVMMP 4USFUUP HMJ JODFOFSJUPSJ DIJVEFSF J $*& TPOP J QSPWWFEJNFOUJ JSSJOVODJBCJMJ QFS SFQFSJSF MF SJTPSTF OFDFTTBSJF B DSFBSF MBWPSP TUBCJMF SFEEJUP EJSJUUJ TFSWJ[J TPDJBMJ QFS UVUUJ DPOUSP PHOJ SB[[JTNP F EJTDSJNJOB[JPOF 0DDPSSF SJQBSUJSF EBMMКаFTJUP SFGFSFOEBSJP QFS TPUUSBSSF J CFOJ DPNVOJ BMMF MFHHJ EJ NFSDBUP F SJNFUUFSF JO EJTDVTTJPOF JM QFOTJFSP VOJDP FTUFOEFSF MB EFNPDSB[JB JO QBSUJDPMBSF OFJ MVPHIJ EJ MBWPSP F J EJSJUUJ DJWJMJ BGGFSNBSF JM EJSJUUP EJ WPUP BJ NJHSBOUJ DBODFMMBSF JM TFHSFUP EJ TUBUP MPUUBSF B GPOEP
DPOUSP MB DPSSV[JPOF F UVUUJ J QSJWJMFHJ -B SJGPOEB[JPOF DPNVOJTUBКФ 6O NPWJNFOUP EJ PQQPTJ[JPOF BM DBQJUBMJTNP IB CJTPHOP EFMMКаB[JPOF F EFM SVPMP RVBMJGJDBOUF EJ VO QBSUJUP DPNVOJTUB VO QBSUJUP DIF OPO TPMP JOUFOEB SBQQSFTFOUBSF HMJ JOUFSFTTJ EFHMJ PQFSBJ NB DIF TJB КБEJ DMBTTFКц QFSDI┬Ц GBUUP EB UBOUJ MBWPSBUPSJ MBWPSBUSJDJ F TPHHFUUJ TPDJBMJ JO DBSOF FE PTTB VO QBSUJUP JO DVJ UBOUJ QSPMFUBSJ TBQQJBOP SJDPOPTDFSTJ QFS DPTUSVJSF VOКаBMUFSOBUJWB EJ TJTUFNB F WFEFSF VOB QSPTQFUUJWB BM EJ M┬ю EFMMB NFSB TPQSBWWJWFO[B RVPUJEJBOB 3JOOPWJBNP RVFTUB QSPGPOEB DPOWJO[JPOF OPO QFS QSJODJQJP BTUSBUUP NB TVMMB CBTF EFMMB DPODSFUB FTQFSJFO[B DPTDJFOUJ DIF MКаBGGFSNB[JPOF OPO ┬ц TVGGJDJFOUF EJ QFS T┬Ц B TVQFSBSF J QSPCMFNJ DIF BCCJBNP EJ GSPOUF F DIF VO QBSUJUP DPNVOJTUB OPO FTBVSJTDF MКаBNQJF[[B F MB QMVSBMJU┬ю EJ VO NPWJNFOUP BOUJDBQJUBMJTUB O┬Ц SJTPMWF JO NPEP FTDMVTJWP MB RVFTUJPOF EFMMB SBQQSFTFOUBO[B EJ DMBTTF *O RVFTUP DPOUFTUP TUB DSFTDFOEP VOB HJVTUB F EJGGVTB JOJ[JBUJWB EB QBSUF EJ UBOUJ F DPNVOJTUJ F QFS GFSNBSF MB DSJTJ F MB GSBNNFOUB[JPOF SJBHHSFHBSF MF GPS[F DPMNBSF JM WVPUP EJ SBQQSFTFOUBO[B QPMJUJDB EFMMB DMBTTF F SJQSFOEFSF JM QFSDPSTP EFMMB SJGPOEB[JPOF SJDPTUSV[JPOF EJ VO QBSUJUP DPNVOJTUB "CCJBNP JM EPWFSF EJ SJTQPOEFSF B RVFTUB EPNBOEB NB EJDJBNP DPO BMUSFUUBOUB DIJBSF[[B DIF OPO QV┬« CBTUBSF VO OVPWP HFOFSJDP BQQFMMP BMMB КБVOJU┬ю EFJ DPNVOJTUJКц TFO[B BGGSPOUBSF J OPEJ QPMJUJDJ DIF JM DPOGMJUUP EJ DMBTTF F MF FTQFSJFO[F QBTTBUF DJ QPOHPOP *O OPNF EJ RVFTUB QBSPMB EКаPSEJOF USPQQF WPMUF TPOP TUBUF SJQSPQPTUF WFDDIJF MPHJDIF EJ BQQBSBUP EJ VOJGJDB[JPOF CVSPDSBUJDB USB HSVQQJ EJSJHFOUJ TDPSDJBUPJF QPMJUJDJTUF F P QVSBNFOUF JEFOUJUBSJF TJNCPMJDIF /PO WJ ┬ц VOJU┬ю EFJ DPNVOJTUJ TFO[B BVUPOPNJB QPMJUJDB F DVMUVSBMF &Ка QPTTJCJMF DPTUSVJSF VOB TPMJEB VOJU┬ю TPMP OFMMB DIJBSF[[B EFMMB MJOFB QPMJUJDB EJ VOB MJOFB JOEJQFOEFOUF F BMUFSOBUJWB BM DFOUSPTJOJTUSB EJ VOB DPFSFOUF QSBUJDB TPDJBMF F HFTUJPOF EFNPDSBUJDB EFMMКаPSHBOJ[[B[JPOF /PO TJBNP EКаBDDPSEP QFS RVFTUP DPO MB TDFMUB GBUUB EBJ DPNQBHOJ EF MКа&SOFTUP EJ DPOGMVJSF BMMКаJOUFSOP EFM 1E$* TFO[B BGGSPOUBSF MF HSPTTF DPOUSBEEJ[JPOJ UFPSJDIF F QPMJUJDIF EJ RVFTUB GPSNB[JPOF F TFO[B SJNFUUFSF JO EJTDVTTJPOF JM DPOUFOJUPSF QPMJUJDJTUB EFMMB 'FEFSB[JPOF EFMMB 4JOJTUSB /FM 1E$* OPO TJ QBSMB QJ┬х EJ QBSUJUP EJ MPUUB F EJ HPWFSOP NB TBMWP SBSF FDDF[JPOJ TJ QSBUJDB TPMP MКаBUUJWJU┬ю EJ HPWFSOP JO UVUUF MF HJVOUF EPWF JM 1% OPO NFUUF JM WFUP HJVTUJGJDBOEPTJ DPO MB EFCPMF[[B EFJ SBQQPSUJ EJ GPS[B 4FO[B SJTPMWFSF RVFTUJ QSPCMFNJ EJ GPOEP SJUFOJBNP TCBHMJBUB VOB FWFOUVBMF VOJGJDB[JPOF DPM 1E$* QFSDI┬Ц SBQQSFTFOUFSFCCF TPMP VOКаPQFSB[JPOF CVSPDSBUJDB FE JODPODMVEFOUF 6OB EJTDPOUJOVJU┬ъ OFDFTTBSJB BMDVOF QSPQPTUF 1FS OPO EJWFOUBSF VOB QBSPMB EКаPSEJOF WVPUB MB SJGPOEB[JPOF DPNVOJTUB IB CJTPHOP EJ VO TVQQMFNFOUP EJ EJTDPOUJOVJU┬ю F EJ SJGMFTTJPOF SJTQFUUP BM QBTTBUP DPOTJEFSBUF MF QFTBOUJ TDPOGJUUF EFM КЪ F MF FTQFSJFO[F OFHBUJWF DIF BCCJBNP BMMF TQBMMF EFSJWF PQQPSUVOJTUF TFUUBSJTNJ TDJTTJPOJ EJBTQPSB EJ NJMJUBOUJ 0DDPSSF DPTUSVJSF BOUJEPUJ QJ┬х TPMJEJ FE FGGJDBDJ DPOUSP UVUUJ J NFDDBOJTNJ F MF GPSNF EJ QPUFSF DIF DPOUFTUJBNP BMMКаPSHBOJ[[B[JPOF DBQJUBMJTUJDB EFMMB TPDJFU┬ю F DIF UFOEPOP B SJQSPEVSTJ BODIF BM OPTUSP JOUFSOP DPO JM SJTVMUBUP EJ DPNQSPNFUUFSF MB OPTUSB JEFOUJU┬ю " UBM GJOF QSPQPOJBNP MB DFOUSBMJU┬ю EJ VOB MJOFB QPMJUJDB BOUJDBQJUBMJTUB F EJ VOB QSBUJDB EJ PQQPTJ[JPOF FMBCPSBUF F WFSJGJDBUF OFM WJWP EFMMB MPUUB EJ DMBTTF F EFM SBEJDBNFOUP TPDJBMF MB DSJUJDB BMMB КБEPQQJF[[BКц USB FOVODJB[JPOJ КБSJWPMV[JPOBSJFКц F QSBUJDB QPMJUJDB PQQPSUVOJTUB DPNF CBTF OFDFTTBSJB QFS SFDVQFSBSF VOB DPFSFO[B USB GJOJ F NF[[J EFMMКаB[JPOF QPMJUJDB USB QSPHSBNNB F TDFMUF JTUJUV[JPOBMJ /PO TJ USBUUB EJ OFHBSF QFS QSJODJQJP QPTTJCJMJ NFEJB[JPOJ NB RVFTUF EFWPOP DPORVJTUBSF SJTVMUBUJ DPODSFUJ BQSJSF OVPWJ TQB[J BMMКаJOJ[JBUJWB EJ DMBTTF F NJHMJPSBSF J SBQQPSUJ EJ GPS[B OPO MPHPSBSMJ P EJTUSVHHFSMJ DPNF BWWFOVUP DPO J HPWFSOJ 1SPEJ /PO ┬ц QJ┬х QPTTJCJMF TUBSF DPO HMJ PQFSBJ EJ 1PNJHMJBOP EFMMB 'JBU EFMMB 1JBHHJP DPO DIJ MPUUB DPOUSP MB HVFSSB DPOUSP MB QSFDBSJFU┬ю F MF QSJWBUJ[[B[JPOJ DPOUSP MB 5"7 F HMJ JODFOFSJUPSJ F QPJ GBSF BMMFBO[F EJ HPWFSOP BJ WBSJ MJWFMMJ DPO RVFMMF GPS[F QPMJUJDIF DIF TPTUFOHPOP .BSDIJPOOF F JM QSJNBUP EFMMF JNQSFTF BQQSPWBOP MF HVFSSF КБVNBOJUBSJFКц F MF HSBOEJ PQFSF MКаJNQFHOP B SJNFUUFSF JO EJTDVTTJPOF JM DBSBUUFSF NBTDIJMF F QBUSJBSDBMF QSFWBMFOUF OPO TPMP OFMMB TPDJFU┬ю NB BODIF OFMMB PSHBOJ[[B[JPOF EFM QBSUJUP QFS DSFBSF OPO TPMP MF DPOEJ[JPOJ EJ VOB FGGFUUJWB QBSUFDJQB[JPOF EFMMF EPOOF NB TPQSBUUVUUP EJ VOB SFBMF BTTVO[JPOF EFM MPSP QVOUP EJ WJTUB F EFMMB DPOUSBEEJ[JPOF EJ HFOFSF VO QSPGPOEP SJQFOTBNFOUP TVMMB OPTUSB QSFTFO[B OFMMF JTUJUV[JPOJ DIF OPO QV┬« FTTFSF JM GJOF EFMMКаB[JPOF QPMJUJDB NB TFNNBJ VOP EFHMJ TUSVNFOUJ TJDVSBNFOUF JNQPSUBOUF QFS TPTUFOFSF MКаJOJ[JBUJWB TPDJBMF QFS EBSF WPDF BMMB OPTUSB QSPQPTUB BMUFSOBUJWB DPORVJTUBSF SJTVMUBUJ DPODSFUJ BQSJSF DPOUSBEEJ[JPOJ OFHMJ BTTFUUJ EJ QPUFSF VOB QSFTFO[B DIF EFWF FTTFSF QSPGPOEBNFOUF EJWFSTB EBJ NFDDBOJTNJ EJ QPUFSF QFS OPO EJWFOUBSF EFUFSJPSF КБJTUJUV[JPOBMJTNPКц TFQBSBUF[[B DBSSJFSJTNP EPQQJF[[B QSJWJMFHJ 1PJDI┬Ц JM DBSBUUFSF QSFWBMFOUF EFM OPTUSP SVPMP JO RVFTUB GBTF TUPSJDB EFWF FTTFSF RVFMMP EFMMКаPQQPTJ[JPOF PDDPSSF VOB SJHPSPTB WFSJGJDB JO RVFTUP TFOTP EFMMF OPTUSF QSFTFO[F JTUJUV[JPOBMJ F EFHMJ BDDPSEJ OFJ HPWFSOJ MPDBMJ QBSUFOEP EBJ DPOUFOVUJ F EBJ SBQQPSUJ TPDJBMJ WFSJGJDB OPO B DBTP SJNBTUB TVMMB DBSUB EPQP JM DPOHSFTTP EJ $IJBODJBOP 4VM QJBOP FMFUUPSBMF B MJWFMMP OB[JPOBMF OPO TVTTJTUF PHHJ BMDVOB NJOJNB DPOEJ[JPOF QFS EFGJOJSF BMMFBO[F PSHBOJDIF DPO JM DFOUSPTJOJTUSB
O┬ц UBOUP NFOP QFS HPWFSOBSF JOTJFNFКЕ MB DPFSFO[B USB PSHBOJ[[B[JPOF EFM QBSUJUP F TUJMF EJ MBWPSP DPO MF GJOBMJU┬ю EFM OPTUSP QSPHSBNNB QPMJUJDP -B EFNPDSB[JB JOUFSOB MB QBSUFDJQB[JPOF EJ CBTF OFMMB EFGJOJ[JPOF EFMMF TDFMUF MB GPSNB[JPOF EFJ QSPHSBNNJ EJ MBWPSP F EFJ HSVQQJ EJSJHFOUJ MКаBUUSJCV[JPOF EFMMF SFTQPOTBCJMJU┬ю J MJWFMMJ PSHBOJ[[BUJWJ EFWPOP JTQJSBSTJ TFNQSF QJ┬х BMMF FTQFSJFO[F QJ┬х BWBO[BUF EFMMB EFNPDSB[JB DPOTJMJBSF BMMB QSFTFO[B OFJ DPOGMJUUJ TPDJBMJ BMMB DFOUSBMJU┬ю EFJ DJSDPMJ BM QSJNBUP EFM MBWPSP DPMMFUUJWP BJ DSJUFSJ EFMMКаJODIJFTUB BMMB WFSJGJDB EFJ QJBOJ EJ MBWPSP BMMB SPUB[JPOF OFHMJ JODBSJDIJ MJNJUBOEP BM NBTTJNP JM GVO[JPOBSJBUP QPMJUJDP F MB QSFTFO[B OFMMF JTUJUV[JPOJ QFS OPO QJ┬х EJ EVF NBOEBUJ *O QBSUJDPMBSF HMJ JODBSJDIJ JTUJUV[JPOBMJ F MF SFTQPOTBCJMJU┬ю EJ QBSUJUP OPO QPTTPOP SBQQSFTFOUBSF MB SJTQPTUB BJ QSPCMFNJ JOEJWJEVBMJ EJ MBWPSP F QSFDBSJFU┬ю DIF WJWPOP UBOUJ RVBESJ EFM QBSUJUP BMMP TDPQP EJ TBMWBHVBSEBSOF MКаJOEJQFOEFO[B NBUFSJBMF F QPMJUJDB -B GPSNB[JPOF QPMJUJDB F MB TPDJBMJ[[B[JPOF EFMMF FTQFSJFO[F SJWPMUB JO QBSUJDPMBSF BJ HJPWBOJ FE BJ NJMJUBOUJ JNQFHOBUJ OFM MBWPSP EJ NBTTB TPOP JOEJTQFOTBCJMJ QFS MB DSFTDJUB EJ VO HSVQQP EJSJHFOUF EJGGVTP FTQFSUP FE BGGJEBCJMF "OBMPHP SBHJPOBNFOUP PDDPSSF GBSF QFS HMJ TUSVNFOUJ JOGPSNBUJWJ F QFS JM HJPSOBMF *M EFHSBEP EFMMB WJUB JOUFSOB EFM 13$ JO UFSNJOJ EJ EFNPDSB[JB F QBSUFDJQB[JPOF JO BUUP PSNBJ EB BOOJ ┬ц JO QSJNP MVPHP JM GSVUUP EFMMB EFSJWB QPMJUJDJTUB F EFMMB NBODBUB TWPMUB B TJOJTUSB VO JNQFHOP TUSBPSEJOBSJP BGGJODI┬ц UPSOJOP B EJGGPOEFSTJ QSBUJDIF EJ BVUPGJOBO[JBNFOUP EFM QBSUJUP MFHBUF BM MBWPSP EJ NBTTB UFTTFSBNFOUP GFTUF EJ MJCFSB[JPOF DFOF TPUUPTDSJ[JPOJ GJOBMJ[[BUF B QSPHFUUJ QPMJUJDJ NFOUSF J ("1 QPTTPOP SBQQSFTFOUBSF VOКаFTQFSJFO[B VUJMF F GVO[JPOBMF BM QSPHFUUP QPMJUJDP TPMP JO VO RVBESP EJ DSFTDJUB EFMMКаBVUPSHBOJ[[B[JPOF QPQPMBSF F EJ DPFSFOUF QSBUJDB QPMJUJDB EFM QBSUJUP TUFTTP 7B SJCBEJUP DIF OFMMКаBUUVBMF DPOUFTUP QPMJUJDP JTUJUV[JPOBMF OPO TPMP ┬ц TCBHMJBUP NB ┬ц EFM UVUUP JMMVTPSJP QFOTBSF EJ SJTPMWFSF J HSBWJ QSPCMFNJ GJOBO[JBSJ EFM 1BSUJUP B MJWFMMP OB[JPOBMF F MPDBMF BUUSBWFSTP MB TPMV[JPOF КБJTUJUV[JPOBMFКц MB UVUFMB EFM QMVSBMJTNP JOUFSOP BE PHOJ MJWFMMP DIF SBQQSFTFOUB VO CBTJMBSF EJSJUUP EFNPDSBUJDP FE VO FMFNFOUP EJ DPOUSBTUP BM SVPMP EFWBTUBOUF FTFSDJUBUP EBM NBHHJPSJUBSJP BODIF BMMКаJOUFSOP EFMMB TJOJTUSB *M QMVSBMJTNP OPO IB OJFOUF EB TQBSUJSF DPO MКаBUUVBMF TJUVB[JPOF EJ BSFF QPMJUJDIF DIJVTF F DSJTUBMMJ[[BUF JO DPNQFUJ[JPOF USB MPSP QFS JM DPOUSPMMP EFM QBSUJUP DIF IB QSPEPUUP MPHJDIF TQBSUJUPSJF OFMMB OPNJOB EFJ EJSJHFOUJ CBTBUF TVMMB GFEFMU┬ю BMMB КБDPSSFOUFКц B EJTDBQJUP EFMMF DBQBDJU┬ю QPMJUJDIF EJ DSJUJDB F EJ JOJ[JBUJWB FTQSFTTF EB UBOUJ DPNQBHOJ F JNQFHOBUJ OFM MBWPSP EJ NBTTB "EFTTP MB HJVTUB F EJGGVTB JOTPGGFSFO[B OFJ DPOGSPOUJ EJ RVFTUF EFHFOFSB[JPOJ WJFOF VTBUB QFS SJDIJBNBSF JM QBSUJUP BMMКаVOJU┬ю F TNJOVJSF J EJTTFOTJ TVHMJ FWJEFOUJ QSPCMFNJ EJ MJOFB QPMJUJDB " $IJBODJBOP JM QBSUJUP GV TBMWBUP EBMMB MJRVJEB[JPOF EB VOB FTQMJDJUB MPUUB QPMJUJDB F EBM QSPUBHPOJTNP EJ UBOUJ DPNQBHOJ F DIF TVMMB CBTF EJ DIJBSF PQ[JPOJ BMMPSB DPOUSJCVJSPOP B RVFM SJTVMUBUP 0HHJ SJUFOJBNP OFDFTTBSJB VOB DIJBSB QSPQPTUB BMUFSOBUJWB B RVFMMB EFMMB TFHSFUFSJB VTDFOUF 3JCBEJBNP MB DPOWJO[JPOF DIF OPO ┬ц TUBUP JM DPOGSPOUP USB QPTJ[JPOJ EJWFSTF B DBVTBSF MКаBUUVBMF DSJTJ EFM 13$ NB MB TWPMUB NPEFSBUB F MB NBODBO[B EJ VOB SFBMF EJBMFUUJDB DIF IB CJTPHOP EJ EFNPDSB[JB JOJ[JBUJWB WFSJGJDB F TJOUFTJ DPMMFUUJWB -КаBTTFO[B EJ EJBMFUUJDB ┬ц TJDVSBNFOUF VOP EFJ GBUUPSJ DIF DPOEJ[JPOB MF BUUVBMJ TDFMUF EJ PQQPSUVOJTNP QPMJUJDP JO OPNF EFMMB КБTPQSBWWJWFO[BКц WJTUB TPMP DPNF SJUPSOP JO 1BSMBNFOUP $0/$-64*0/* $PO RVFTUP EPDVNFOUP DJ SJWPMHJBNP JO QSJNP MVPHP BJ NJMJUBOUJ EJ CBTF EFJ DJSDPMJ BJ RVBESJ JOUFSNFEJ F EJ NPWJNFOUP EFM 13$ BM EJ M┬ю EFMMB MPSP DPMMPDB[JPOF OFMMP TDPSTP DPOHSFTTP EJ $IJBODJBOP DJ SJWPMHJBNP BODIF B UVUUF MF FTQFSJFO[F FE BJ DPNQBHOJ FTUFSOJ BM QBSUJUP JOUFSFTTBUJ B RVFTUB QSPQPTUB QPMJUJDB &TQSJNJBNP MB GFSNB DPOWJO[JPOF DIF PHHJ B NBHHJPS SBHJPOF OFMMB TJUVB[JPOF TPDJBMF F QPMJUJDB JNQPTUB EBMMB DSJTJ OPO DJ TPOP MF DPOEJ[JPOJ QFS QBSUFDJQBSF B NBHHJPSBO[F F DPBMJ[JPOJ EJ HPWFSOP JO OPNF EFJ DPTJEEFUUJ КБDPOUFOVUJ QSPHSBNNBUJDJКц JO HSBEP EJ QSFOEFSF QSPWWFEJNFOUJ UBOHJCJMJ F WFSJGJDBCJMJ JO GBWPSF EFMMB OPTUSB CBTF TPDJBMF 1SJNB DIF TJB USPQQP UBSEJ OPJ QFOTJBNP DIF TJB QSJPSJUBSJP MBWPSBSF BMMB DPTUSV[JPOF EFMMКаPQQPTJ[JPOF TPDJBMF F QPMJUJDB QFS MКаBMUFSOBUJWB EJ TJTUFNB UPHMJFOEP RVBMTJBTJ JMMVTJPOF DIF VO HPWFSOP EJ DFOUSP TJOJTUSB GBSFCCF DPTF NPMUP EJWFSTF EBM HPWFSOP EJ DFOUSPEFTUSB (MJ PQFSBJ DIF SFTJTUPOP MF WFSUFO[F EFJ QSFDBSJ EFHMJ TUVEFOUJ F EFHMJ JOTFHOBOUJ MF MPUUF EFMMF QPQPMB[JPOJ DPOUSP MB 5"7 HMJ JODFOFSJUPSJ F HMJ TDFNQJ BNCJFOUBMJ MКаFDDF[JPOBMF SJTVMUBUP EFJ SFGFSFOEVN J UBOUJ DIF TJ PQQPOHPOP BMMF HVFSSF FE BMMF QSJWBUJ[[B[JPOJ DJ EJDPOP DIF DJ TPOP BODPSB NJMJPOJ EJ QFSTPOF OPO EJTQPOJCJMJ B QJFHBSTJ BJ WBMPSJ CBSCBSJ F JODJWJMJ EFM DBQJUBMJTNP F EFM TVP NFSDBUP * DPNVOJTUJ TF BODPSB FTJTUPOP TPOP DIJBNBUJ B CBUUFSF VO DPMQP 4& /0/ 03" 26"/%0
'*3."5"3*
1BTRVBMF %Ка"OHFMP .BUUFP .BMFSCB "OUPOFMMP .BOPDDIJP -BVSB 1FUSPOF 4BOESP 5BSHFUUJ 7JODFO[P 4JNPOJ