4.2.3
La reconstrucción del espacio a partir de las inundaciones Sebastián Palacio Vélez
3FDPOTUSVDDJ O EFM FTQBDJP B QBSUJS EF JOVOEBDJPOFT 4FCBTUJ O 1BMBDJP 7 "SU DVMPT
$PNP MB BSB B DPO TV UFMB DBEB JOEJWJEVP UF MPT OVNFSPTPT IJMPT TF FOUSFUFKFO Z GJOBMNFOUF GPSNBO MB CBTF EF MB QSPQJB FYJTUFODJB EFM JOEJWJEVP KF SFMBDJPOFT FOUSF TJ NJTNP Z
1%5 %JO NJDBT EFM )BCJUBS .PNQPY
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DJVEBE
4J CJFO UPEPT OP DPOPDFNPT FM DPODFQUP EF FTQBDJBMJEBE 4FH O 8BMMPO MB FTQBDJBMJEBE FT FM DPOPDJNJFOUP P UPNB EF DPODJFODJB EFM NFEJP Z TVT BMSFEFEPSFT FT EFDJS MB UPNB EF DPODJFODJB EFM TVKFUP EF TV TJUVBDJ O Z EF QPTJCMFT TJUVBDJPOFT EFM FTQBDJP RVF MF SPEFB TV FOUPSOP Z MPT PCKFUPT RVF FO M TF FODVFOUSBO 8BMMPO
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
TPDJFEBE
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UFDOPMPHJB NFEJP BNCJFOUF Z SFDVSTPT
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
3FDPOTUSVDDJ O EFM FTQBDJP B QBSUJS EF JOVOEBDJPOFT 4FCBTUJ O 1BMBDJP 7 "SU DVMPT
1%5 %JO NJDBT EFM )BCJUBS .PNQPY
YY
DJVEBE
1SFTFODJBOEP MPT UFNBT FTFODJBMFT RVF DPOUFNQMBO FTB OBUVSBMJEBE EF $JVEBE Z EF NJMFT EF QSPCMFN UJDBT RVF IBZ FO DVBMRVJFS TFDUPS EF $PMPNCJB TF FOUJFOEF MB KFSBSRV B Z MB JNQPSUBODJB RVF UJFOF FM S P QBSB TVT IBCJUBOUFT Z FT JNQPTJCMF CPSSBSMFT FTB BQSPQJBDJ O RVF UJFOFO IBDJB FM RVF FM "HVB UPNB QBSUJEP JNQPSUBOUF FO FM BO MJTJT Z FO MB QSPZFDDJ O EF TPMVDJPOFT QBSB MB [POB &T MB QPTJCJMJEBE EF WPMWFS FM BHVB BGFDUBOUF FO HFOFSBEPS EF OVFWPT FTQBDJPT VSCBOPT FO MPT NPNFOUPT EF JOVOEBDJ O DPO OJWFMFT EF QJTP GMPUBOUF DVBOEP PDVSSB FTUP BT FM BHVB EFKB EF TFS VO FOFNJHP Z TF FMJNJOB FTB JEFB EF DPNQFUJS TJFNQSF DPOUSB FM QBSB WPMWFSMP QSPQJP EF FTF EFTBSSPMMP DPNP 5FKJEP VSCBOP DPO VTPT Z SFMBDJPOFT FOUSF FTQBDJPT 1PS FTUF NPUJWP FT RVF FM BVUPS SFMBDJPOB TV JOWFTUJHBDJ O NBT B GPOEP FOUSF MB FTUSFDIB SFMBDJ O FOUSF MPT BQPSUFT RVF EB MB UFDOPMPH B EFTEF FM QVOUP EF WJTUB EF MB BSRVJUFDUVSB FTUSVDUVSBT TJTUFNBT DPOTUSVDUJWPT JOTUBMBDJPOFT Z UPEBT MBT DPOEJDJPOFT EF DPOGPSU OFDFTBSJBT QBSB FM EFTBSSPMMP EF VO OVFWP QSPZFDUP RVF B QBSUJS EF FTF USBUBNJFOUP RVF FT MB 3&6#*$"$* / TF GBWPSF[DB OP TPMP B MB WJWJFOEB TJ OP FO MB DPOTPMJEBDJ O HFOFSBDJ O SFDVQFSBDJ O NFKPSBNJFOUP Z USBOTGPSNBDJ O G TJDB EFM FTQBDJP VSCBOP DPNP MB QSPMJGFSBDJ O EF TVFMP WFHFUBM UFSSFOP EFGJOJEB FO FKFT GVOEBNFOUBMFT
TPDJFEBE
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UFDOPMPHJB NFEJP BNCJFOUF Z SFDVSTPT
FM CBSSJP Z EF WJWJS FO MB WJEB &M UFNB FO FTQFDJGJDP EF UPEB MB JOUSPEVDDJ O EFM BSUJDVMP BCBSDB QPS VO MBEP FO DMBSJEBE RVF FT MB QSPMJGFSBDJ O EF FTF TVCTVFMP FYJTUFOUF WFHFUBM DPNP VOB FTQBDJBMJEBE QVCMJDB BQSPQJBEB RVF BZVEBSBO BM DSFDJNJFOUP EFM FTQBDJP EFTEF MB EFGJOJDJ O DPNQMFUB EFM JOUFS T EF FTUF BSUJDVMP FT NBT EFTEF MB NFKPSB EF MB WJWJFOEB FO TV JOUFSJPS DPNP DBNCJP EF JEFOUJEBE RVF DBEB IBCJUBOUF FNQJFDF B HFOFSBS FO TV WJWJFOEB B USBW T EF MP RVF WB QBTBOEP GVFSB EF TV DBTB BQBSUF EF FTB SFDPOTUSVDDJ O EF FTF FTQBDJP VSCBOP FYJTUFOUF MP QVCMJDP RVF FT FM UFNB CBTF EF JOUFSWFODJ O RVF TJO VOB NFKPSB IBDF QBSUF FO TV UPUBMJEBE EF VO EFTBSSPMMP Z VOB VUJMJEBE JOJHVBMBCMF QBSB UPEPT MPT IBCJUBOUFT EF MB [POB NPNQPTJOB FO FTQFDJBM EFM #BSSJP 4BO 'SBODJTDP NFKPS B EF MB WJWJFOEB EF BDVFSEP BM QBTP EFM UJFNQP B MB EJTUJOUBT FUBQBT EF FKFDVDJ O RVF BMUFSOBEP DPO MP VSCBOP FTQBDJP QVCMJDP CBSSJBM MP QSJWBEP JOUFSJPS EF MBT WJWJFOEBT UBNCJ O JSB EFGJOJFOEP MB JEFOUJEBE EF FTQBDJBMJEBE B MP RVF TF RVJFSF MMFHBS .FKPS EJDIP VO DBNCJP RVF JSB HFOFSBOEP FO MB DPODJFODJB EFM IBCJUBOUF PUSPT DBNCJPT GVUVSPT FO [POBT BQUBT EPOEF UBNCJ O TF JNQMFNFOUBSB TJTUFNBT EF WFHFUBDJ O GMPUBOUF TPCSF FTB JOVOEBDJ O EF MBT BHVBT EFM SJP .BHEBMFOB SFMBDJPOBEP DPO FM VTP EF NBUFSJBMFT FDPO NJDPT PSH OJDPT JNQMFNFOUBDJ O EF DVMUJWPT TPTUFOJCMFT FOUSF PUSPT TVCDPODFQUPT EF MB QSPZFDDJ O RVF JS O EF MB NBOP DPO MP RVF NBT BEFMBOUF TF OPNCSBSB $PO VOB PCTFSWBDJ O UBOUP EF MPT GFO NFOPT QSFTFOUFT FO FM MVHBS EF BO MJTJT DPNP EF MPT SFGFSFOUFT UF SJDPT Z DPOUFYUVBMFT RVF TPQPSUFO FM QMBOUFBNJFOUP EF DPODFQUPT DPNP $JVEBE 5FDOPMPH B 4PDJFEBE .FEJP "NCJFOUF 3FDVSTPT QBSB MB SFDPOTUSVDDJ O P EJTF P EF VOB WJTJ O FDPMPH B QBSB FM QB T HFOFSBOEP OVFWPT BNCJFOUFT VSCBOPT QSJNPSEJBMNFOUF EFTEF MB "SRVJUFDUVSB
3FDPOTUSVDDJ O EFM FTQBDJP B QBSUJS EF JOVOEBDJPOFT 4FCBTUJ O 1BMBDJP 7 "SU DVMPT
DJVEBE
TPDJFEBE
DPOWFSUJS FM FTQBDJP FO VO NVOEP G TJDP G DJM EF NBOFKBS QBSB TVT OFDFTJEBEFT EPOEF BQBSFDFO DPO FM QVSBT SFMBDJPOFT M HJDBT Z BNCJFOUBMFT DPNP MP QSPGVOEJ[P FO FTUF DBTP FM BVUPS DPO MBT JOVOEBDJPOFT QVFTUP RVF QBSB MB JOWFTUJHBDJ O EFTEF FM BVUPS EFM BSUJDVMP FT MMBNBEP &TQBDJP "SRVJUFDU OJDP RVF TFS MB DPODSFUJ[BDJ O EF MB OFDFTJEBE EF BEBQUBSTF B MBT OFDFTJEBEFT EF MB BDDJ O PSH OJDB FO FTUF DBTP MBT JOVOEBDJPOFT EFTEF MP JOEJWJEVBM Z QVCMJDP EFM IPNCSF -B 5FDOPMPH B DPNP SFNQMB[P EF EJGFSFOUFT DPNQPOFOUFT Z TJTUFNBT BQPZBEP EFTEF MB TPTUFOJCJMJEBE FM IFDIP EF RVF MB HFOUF FNQMFF TVT U DOJDBT MPDBMFT NBT BTFRVJCMFT Z DSFBUJWBT QBSB OJWFMBS P EJTNJOVJS QSPCMFNBT JOWFSOBMFT QBSB SFTPMWFS JOGPSNBMJEBEFT EF MB OBUVSBMF[B EFTEF MB NBOP EF PCSB VUJMJ[BEB QPS FTUB QPCMBDJ O FT ZB VOB NJSBEB RVF BCSF NJM QPTJCJMJEBEFT B MB JOEVTUSJB EFM NVOEP JODMVJEB MB DPOTUSVDDJ O
'JHVSB "VUPS 'JHVSB "VUPS
.PNQPY 5FDOPMPH B QSPQJB <'PUPHSBG B> .PNQPY $PNQPTJDJ O 5FDOP <'PUPHSBG B
)PZ QPS IPZ TF FODVFOUSB MB UFDOPMPH B USBEJDJPOBM MMBNBNPT USBEJDJPOBM B MB RVF EFTBSSPMMBO FO FTUF MVHBS EFTFNQF BEB FO NJMFT EF GPSNBT DPO N MUJQMFT NBUFSJBMFT RVF FNQJF[BO B DPNQFUJS QPS TV GBDJMJEBE EF MJWJBOEBE Z RVF WBO DVNQMJFOEP EJGFSFOUFT FYQFDUBUJWBT WJTUBT EFTEF MB QSPCMFN UJDB .PNQPTJOB QBSB FM EFTBSSPMMP VSCBOP DPO VOB VUJMJEBE Z BQPSUF FGJDJFOUF FO MB [POB UBMFT DPNP MB NBEFSB FM NFUBM FM MBESJMMP MB UFKB MB HVBEVB Z BMHVOB NF[DMB FOUSF VOPT Z PUSPT RVF TF WBO UFOJFOEP FO DVFOUB QBSB TVT IBCJUBOUFT FO VO JNQMFNFOUBDJ O QSPQJB Z BT EJTNJOVJS TVT DPTUPT HSBDJBT B FTB DSFBUJWJEBE RVF WBO
1%5 %JO NJDBT EFM )BCJUBS .PNQPY
YY
UFDOPMPHJB NFEJP BNCJFOUF Z SFDVSTPT
DPNP SFDVQFSBEPS FM 6SCBOJTNP DPNP 1BJTBKF -B DBMMF DPNP FTQBDJBMJEBE QVCMJDB Z MPT KBSEJOFT GMPUBOUFT DPNP FTQBDJP QSPEVDUJWP MPT DVMUJWPT BOUFT VUJMJ[BEPT QPS MPT IBCJUBOUFT Z HFOFSBSMFT VO NFKPS EFTBSSPMMP DPNP KBSEJOFS B GMPUBOUF Z MB FYUFOTJ O EF FTUBT QSPQVFTUBT FO NBT QSPZFDUPT B GVUVSP ZB NBT FTQFDJBMJ[BEB DBSBDUFSJ[BEB QPS FUBQBT EF FKFDVDJ O Z DPO BZVEB FO NBOP EF PCSB EF MB QPCMBDJ O Z BTJ DPOUJOVBS DPO VO UFNB FO DPOTUSVDDJ O TPTUFOJCMF "D FNQJF[B B HFOFSBSTF VO FOUFOEJNJFOUP TPCSF JEFBT SFMFWBOUFT FO MB JOWFTUJHBDJ O Z FT JNQPSUBOUF EFKBS BMHVOPT DPODFQUPT DMBSPT &M FTQBDJP FT VO DPODFQUP RVF FTUBCB USBCBKBEP QPS NVDI TJNPT BVUPSFT BOUFT OPNCSBEP "SJTU UFMFT BIPSB EFTEF FM DPODFQUP EF &TQBDJP Z UJFNQP EF ,BOU TPO MBT GPSNBT EF OVFTUSB TFOTJCJMJEBE P JOUVJDJPOFT QVSBT RVF MF PUPSHBO B MBT DPTBT RVF DPOPDFNPT TV FTUSVDUVSB &T BEFN T FM FTQBDJP MB GPSNB EFM TFOUJEP FYUFSOP RVF QFSNJUF MB SFQSFTFOUBDJ O EF MPT PCKFUPT DPNP FYJTUFOUFT FO FM FTQBDJP Z FM UJFNQP FT MB GPSNB EFM TFOUJEP JOUFSOP RVF IBDF QPTJCMF QFSDJCJS MPT FTUBEPT JOUFSOPT FO VOB TFDVFODJB UFNQPSBM ,BOU Q
5FOJFOEP FM DPODFQUP EFM BVUPS EFM BSU DVMP DPO VOB FMBCPSBDJ O NBT QSPGVOEB QBSUF EFM FOGPDB FO FM JOUFS T EFM IPNCSF QPS FM FTQBDJP WJFOF EF SB DFT FYJTUFODJBMFT "OUF MB TJUVBDJ O TVSHF EF PCUFOFS VO MVHBS EF SFDPOPDJNJFOUP DPO TV FYJTUFODJB RVF MF CSJOEF DBQBDJEBE EF DSFDJNJFOUP FO FM USBOTDVSTP EF TV WJEB DPO QPTJCJMJEBE EF DSFDFS Z NFKPSBS FO FM UJFNQP 4F EFCFO UFOFS BMUFSOBUJWBT EF DPOTUSVDDJ O EJGFSFOUFT B MBT USBEJDJPOBMFT RVF OPT QFSNJUBO VOB NBZPS QSPEVDUJWJEBE UFOJFOEP FO DVFOUB MB HSBO DBOUJEBE EF NBOP EF PCSB EFTFNQMFBEB MBT NBUFSJBT QSJNBT Z MB UFDOPMPH B RVF EJTQPOFNPT $PNP $PO VO QSPZFDUP EF MB HFOUF QBSB MB HFOUF "T RVF FM IPNCSF UJFOF MB DBQBDJEBE EF
3FDPOTUSVDDJ O EFM FTQBDJP B QBSUJS EF JOVOEBDJPOFT 4FCBTUJ O 1BMBDJP 7 "SU DVMPT FODPOUSBOEP QPS MB OFDFTJEBE
'JHVSB "VUPS 'JHVSB "VUPS .PNQPY /JWFMFT *OVOEBDJPO <'PUPHSBG B> .PNQPY 7JWJFOEB *OUFSWFOJEB <'PUPHSBG B>
'JHVSB "VUPS 5SBUBNJFOUP 6SCBOP $JVEBE "SRVJUFDUVSB <.BQB $PODFQUVBM>
3&$0/4536$$* / &41"$*0 46&-0 "650$0/4536$$* / 130-*'&3"$* / 63#"/" -BT JOVOEBDJPOFT QPS MMVWJBT Z GJMUSBDJPOFT EFM S P .BHEBMFOB UJFOFO FO SJFTHP BM DFOUSP IJTU SJDP Z DVMUVSBM EF .PNQPY EFDMBSBEP .POVNFOUP /BDJPOBM Z 1BUSJNPOJP EF MB )VNBOJEBE QPS MB 6OFTDP DPO FTUP MP RVF
1%5 %JO NJDBT EFM )BCJUBS .PNQPY
UFDOPMPHJB NFEJP BNCJFOUF Z SFDVSTPT
DJVEBE
TPDJFEBE
-BT DBSBDUFS TUJDBT EF FTUF DPNQPOFOUF UFDOPMPH B QFSNJUF MB JNQMFNFOUBDJ O QPS QBSUF EF TVT IBCJUBOUFT EPOEF FT EF HSBO JNQPSUBODJB UFOFS FM DPOPDJNJFOUP EFM DPOUFYUP EPOEF TF EFTBSSPMMBO EJDIPT BTFOUBNJFOUPT ZB RVF FT QFSUJOFOUF DPOPDFS MBT DBSBDUFS TUJDBT DVMUVSBMFT UPQPHS GJDBT Z EF TV FDPTJTUFNB QBSB OP TFHVJS SFQJUJFOEP NPEFMPT FO MB DJVEBE EF VOB GPSNB EJTDSJNJOBEB
QSFUFOEF FM BVUPS FT EFNPTUSBS FM JOUFS T EF MB JOWFTUJHBDJ O EPOEF TF QPOF FO QJF VOB KVTUJGJDBDJ O DPO VOPT BSHVNFOUPT EF QSPCMFN UJDBT FYJTUFOUFT FO MB [POB PMWJEBOEP FTF QSJWJMFHJP RVF IBZ DPNP "SRVJUFDUVSB 1BUSJNPOJBM QFSEJFOEP UBNCJ O DSJUFSJPT EF GVODJPOBMJEBE BDDFTJCJMJEBE Z FTQBDJBMJEBE EFM TFDUPS Z B DPOUJOVBDJ O TF USBFO B SFMVDJS VOBT QVCMJDBDJPOFT EF QSFOTB $JFOUPT EF QPCMBEPSFT EF CBSSJPT QPQVMBSFT IBO UFOJEP RVF BCBOEPOBS TVT DBTBT Z SFGVHJBSTF FO JNQSPWJTBEPT DBNCVDIFT B MB PSJMMB EF MB DBSSFUFSB TJO BMJNFOUPT OJ FMFNFOUPT JOEJTQFOTBCMFT QBSB VOB WJEB EJHOB SFMBU .BSU OF[ TF BM RVF MBT BHVBT EFM .BHEBMFOB TF GJMUSBO B USBW T EF VOB NVSBMMB RVF MPT TFQBSB EFM S P Z UBNCJ O CSPUB QPS FM NJTNP QBWJNFOUP &M 6OJWFSTBM &M S P IB TJEP TV WJEB Z TV LBSNB BGJSNB MWBSP $BTUSP EJSFDUPS EF MB &TDVFMB 5BMMFS EF .PNQPY RVJFO SFDVFSEB RVF HVBSEBO SFHJTUSPT EF JOVOEBDJPOFT EFTEF &T JOEVEBCMF RVF FM .BHEBMFOB Z MBT UJFSSBT DFOBHPTBT NBSDBSPO TV IJTUPSJB Z GVFSPO GVFOUF EF QSPHSFTP Z FTQMFOEPSFT DPNP UBNCJ O EF USBHFEJBT 4BMVE )FSO OEF[ .PSB &TQFDJBM QBSB &- 5*&.10 : DPNP TV I CJUBU TF BEBQUB B VO FOUPSOP PCMJHBEP EFTEF VTP UFDOPM HJDP USBEJDJPOBM RVF QFSNJUB EBSMF VOBT NFKPSBT UJMFT Z GBDUJCMFT EFTEF MB WJWJFOEB FO TV JOUFSJPS Z BVUPTVGJDJFODJB RVF SFDVQFSF Z TF EFTFOWVFMWB FO VO FTQBDJP VSCBOP SFDPOTUSVJEP FO FTUF UFSSJUPSJP DBSBDUFS TUJDP %FTEF FM UFNB EF JOWFTUJHBDJ O MP RVF FM BVUPS CVTDB FT MB QSPQVFTUB RVF EFTEF VOBT SFDFUBT P VOBT QPTJCJMJEBEFT EF SFDPOTUSVJS FTF FTQBDJP VSCBOP FYJTUFOUF QFSP DBSFOUF EF VO USBUBNJFOUP FO TV QJTP RVF EF GPSNBMJEBE Z VOB JEFOUJGJDBDJ O DMBSB EF TV TVQFSGJDJF SFDVQFSBOEP FTQBDJPT Z FM I CJUBU QFSEJEP FO FM TFDUPS EF .PNQPY TJO BHSFEJS B MB OBUVSBMF[B Z MMFWBOEP FTUB EF MB NBOP QBSB CSJOEBS VOB DPOFYJ O DMBSB FOUSF VOB DPOTUSVDDJ O Z VOB TPTUFOJCJMJEBE DPOTUSVDUJWB SFDVSTJWB QBSB FM UJFNQP Z DPO DPODPSEBODJB DPO FM
YY
3FDPOTUSVDDJ O EFM FTQBDJP B QBSUJS EF JOVOEBDJPOFT 4FCBTUJ O 1BMBDJP 7 "SU DVMPT
1%5 %JO NJDBT EFM )BCJUBS .PNQPY
TPDJFEBE
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
DJVEBE
%&4%& &- %*"(/045*$0 1"3" &45" 3&$0/4536$$* / -B JNQMFNFOUBDJ O Z VUJMJ[BDJ O EF NBUFSJBMFT EF MB [POB ZB VUJMJ[BEP QPS TV DPNVOJEBE Z BDPSEFT B MB DPOTUSVDDJ O TPTUFOJCMF QPES B TFS VOB JNQMFNFOUBDJ O EF HFTUJPOFT EF FOTF BO[B UBMMFSFT BCJFSUPT QBSB DBQBDJUBS MB QPCMBDJ O EF IPNCSFT Z K WFOFT FO MB SFDPOTUSVDDJ O EF FTUF FTQBDJP VSCBOP QBSB HFOFSBS VO BIPSSP FGJDJFOUF FO TV DPOTUSVDDJ O EPOEF TF QFSNJUJS HFOFSBS VO BIPSSP EF NBUFSJBM EF NBOP EF PCSB Z EF FTF EFTBSSPMMP QPS FUBQBT VUJMJ[BOEP Z VTBOEP MP RVF IBZ DPNVOJEBE DPNQSPNFUJEB Z MJTUB QBSB NFKPSBS TV I CJUBU &T WJUBM FTUB JEFB EF VUJMJ[BS MB UFDOPMPH B QBSB NFKPSBS FM EFTBSSPMMP EF MB JEFB ZB RVF FO FTUF TFDUPS TFS G DJM QSPQPOFS DBNCJPT FO TV BTQFDUP VSCBOP TPDJBM Z DVMUVSBM RVF FO BDDFEFS B UFOFS VOB OVFWB WJWJFOEB EJHOB DPO VOB NFKPS VCJDBDJ O Z EF NFKPS DBMJEBE B QSFDJPT NBT FMFWBEPT Z HFOFSBOEP NBT EFTHBTUF FO TV QBSUF FDPO NJDB RVF VOB BZVEB QPS QBSUF EFM HPCJFSOP Z EF FMMPT FO FTB BVUPDPOTUSVDDJ O QBSB VOB NFKPS B FTQBDJBM EF TV TFDUPS VSCBOP Z FM NFEJP BNCJFOUF .PNQPY FT SFDPOPDJEB B OJWFM NVOEJBM QPS TV FTQFDJBMJEBE FO FM EJG DJM BSUF EF MB '*-*(3"/" FMBCPSBDJ O EF KPZBT WBMJPTBT FO PSP Z QMBUB MB DVBM TF IB JEP USBOTNJUJFOEP EF HFOFSBDJ O FO
HFOFSBDJ O EFTEF MB QPDB EF MB $PMPOJB IBTUB OVFTUSPT E BT &TUP QVFEF TFSWJS DPNP BERVJTJDJ O EF OVFWPT SFDVSTPT QBSB FM NBOUFOJNJFOUP EF MB DJVEBE QVFEF EFTBSSPMMBSTF VOB NFKPS VUJMJ[BDJ O EF FTUPT SFTJEVPT RVF EFKB FTUB BSUF
UFDOPMPHJB NFEJP BNCJFOUF Z SFDVSTPT
UFNB EF MBT JOVOEBDJPOFT EF BHVBT MMVWJBT Z EF MBT DSFDJFOUFT EFM SJP .BHEBMFOB 1SPQJDJBOEP FTUF DPNP VO NPEFMP CBSSJBM QBSB EJGFSFOUFT TFDUPSFT EF .PNQPY Z EF $PMPNCJB DPO QSPCMFN UJDBT TJNJMBSFT VOB IFSSBNJFOUB RVF GBDJMJUF MB DPOTUSVDDJ O EF FMFNFOUPT Z EJTQPTJUJWPT RVF DPNQMFNFOUBO MB GPSNBMJEBE F JEFOUJEBE EFM FTQBDJP Q CMJDP UBOUP EFM DBNCJP RVF WBO B JS BERVJSJFOEP FM JOUFSJPS EF MBT WJWJFOEBT EFM CBSSJP 4BO 'SBODJTDP Z RVF B TV WFT MF QSPQPSDJPOFO NBZPS DPNPEJEBE B TVT IBCJUBOUFT NBZPS EJTGSVUF EFM FTQBDJP PDJP Z SFDSFBDJ O QPS QBSUF EF OJ PT Z BEVMUPT
YY
3FDPOTUSVDDJ O EFM FTQBDJP B QBSUJS EF JOVOEBDJPOFT 4FCBTUJ O 1BMBDJP 7 "SU DVMPT
&WBMVBDJ O 'BDUPS B UFOFS FO DVFOUB FT FM IFDIP EF RVF MPT BT CFOFGJDJBSJPT BT EFM QSPHSBNB EF BVUPDPOTUSVDDJ O USBCBKBO FO MB FKFDVDJ O EF MBT PCSBT KVOUPT EVSBOUF VO QBS EF B PT BQSPYJNBEBNFOUF FTUP FO HFOFSBM TVQPOF VOB CVFOB DPOWJWFODJB GVUVSB FO FM OVFWP CBSSJP ZB RVF MBT QFSTPOBT RVF MP IBCJUBO TF DPOPDFO IBO DPNQBSUJEP USBCBKP UJFNQP FYQFSJFODJBT F JMVTJPOFT -BT 7JWJFOEBT EF "VUPDPOTUSVDDJ O IBO TJEP EF VOB JNQPSUBODJB WJUBM FO VO NVOJDJQJP DPNP FM OVFTUSP ZB RVF QBSB NVDIBT GBNJMJBT IB TJEP MB OJDB GPSNB EF BDDFEFS B VOB WJWJFOEB EJHOB Z EF DBMJEBE B VO QSFDJP BTFRVJCMF
1"3"
-"
&M MJOEFSP DPNP MJNJUF NVFTUSB FO FTUB JNBHFO MB BOPSNBMJEBE RVF FYJTUF IPZ FO FM SFDPSSJEP QPS UPEP FM CBSSJP 4BO 'SBODJTDP Z MB HSBO EJTUBODJB RVF TF PSJHJOB FOUSF MPT QVOUPT EF FODVFOUSP RVF FYJTUFO FO FM MVHBS : MB HSBO WBSJBDJ O EF DBNJOP RVF IBZ RVF UFOFS QPS QVOUPT RVF ZB FTU O EFUFSJPSBEPT P QPS EFMJNJUBDJ O EF MBT [POBT WFSEFT EFM GSFOUF EF DBEB WJWJFOEB
TPDJFEBE
%JBHO TUJDP &O .BSJOBMFEB FM BDDFTP B MB WJWJFOEB EVSBOUF FTUPT MUJNPT WFJOUJDJODP B PT TF IB QSPEVDJEP FO HSBO NFEJEB HSBDJBT BM 1SPHSBNB EF 7JWJFOEBT EF "VUPDPOTUSVDDJ O MB NBZPS B EF MBT WJWJFOEBT EF OVFWB QMBOUB DPOTUSVJEBT FO MBT MUJNBT EPT E DBEBT TF IBO SFBMJ[BEP CBKP FTUF QSPHSBNB
16/504 &453"5 (*$04 %& */5&37&/$* / 63#"/" $PODMVTJPOFT BO MJTJT .PNQPY
&O SFTVNJEBT DVFOUBT MP RVF RVJFSF NPTUSBS FM BVUPS BD FT FM BVYJMJP EFM UFNB EF JOWFTUJHBDJ O 5FDOPMPH B EFTEF MB PQUJNJ[BDJ O EF VO VTP FO FTQFDJGJDP VSCBOJTNP DPNP FKFDVDJ O EF VO FTQBDJP VSCBOP B USBW T EF VOB SFDPOTUSVDDJ O DPO FM QBJTBKF DPO BMHVOPT DPODFQUPT FO DPN O Z U DOJDBT DPOTJFOUFT EF MB FOPSNF JNQPSUBODJB EF MPT DPODFQUPT FDPM HJDPT BQMJDBCMFT B MB "SRVJUFDUVSB %FTEF QVOUPT WJBMFT B MB JOUFSWFODJ O RVF EFMJNJUFO FTF FTQBDJP B SFDPOTUSVJS Z B NPEJGJDBS
DJVEBE
$POUFYUP .BSJOBMFEB FT VO NVOJDJQJP EF MB 4JFSSB 4VS 4FWJMMBOB EJTUBOUF FO N T EF ,N EF 4FWJMMB Z . MBHB Z DPO VOB QPCMBDJ O JOGFSJPS B MPT IB EFEJDBEB FO TV NBZPS B B MBT MBCPSFT EF MB BHSJDVMUVSB Z FM DBNQP QPS MP RVF FM OJWFM FDPO NJDP EF MBT GBNJMJBT EFM NVOJDJQJP IB TJEP NVZ CBKP
'JHVSB 3FDVQFSBEP IUUQ XXX MBDJVEBEWJWB PSH FYQPSU TJUFT MBDJVEBEWJWB @FYQFSJFODJBT &TQBYB 7JWJFOEBT EF BVUPDPOTUSVDDJ O FO .BSJOBMFEB .BSJOBMFEB 4FWJMMB &TQB B<'PUPHSBG B>
;POBT EF BOUFKBSEJOFT EF VO FTQBDJP RVF MB QPCMBDJ O USBOTGPSNB QFSP RVF OP FTUB EFMJNJUBEP OJ QPS VO DFSSBNJFOUP 4JNQMFNFOUF TF DBSBDUFSJ[B QPS UFOFS BSCPSJ[BDJ O EPOEF TVT IBCJUBOUFT MP VTBO QBSB SFGSFTDBSTF EFM DBMPS JOUFSJPS EF TVT WJWJFOEBT
'JHVSB "VUPS $JSDVMBDJ O -JCSF #BSSJP 4BO 'SBODJTDP .PNQPY <.BQB>
1%5 %JO NJDBT EFM )BCJUBS .PNQPY
&TQBDJP -JCSF UBNB P MJNJUBEP RVF IPZ FT W B EF DJSDVMBDJ O
YY
UFDOPMPHJB NFEJP BNCJFOUF Z SFDVSTPT
BVUPS VO NVOJDJQJP DPO TJNJMBSFT WFOUBKBT Z EFTWFOUBKBT DPOTJHVF JNQMFNFOUBS TV IBCJUBE FO VOB DPOTUSVDDJ O EF WJWJFOEB EJHOB Z MB SFDPOTUSVDDJ O EF VO FTQBDJP VSCBOP EFTEF TV QPCMBDJ O TVT IBCJUBOUFT TV HFOUF P DPNP TF RVJFSBO OPNCSBS MF EBO GPSNB Z MJOFBNJFOUP B TVT TVF PT
3FDPOTUSVDDJ O EFM FTQBDJP B QBSUJS EF JOVOEBDJPOFT 4FCBTUJ O 1BMBDJP 7 "SU DVMPT
"QSPWFDIBNJFOUP EFM SFDVSTP I ESJDP MMVWJB FODBCF[BEP QPS MB BDVNVMBDJ O FOUSF UFDIPT EF WJWJFOEBT Z E OEPMF DB EB B MB WFHFUBDJ O Z B MPT QVOUPT EF SFDPMFDDJ O Z BMNBDFOBNJFOUP EF FTUF MJNQJ OEPMP QBSB TFS SFQBSUJEP QPS UVCFS BT IBDJB WJWJFOEBT
'JHVSB "VUPS &TQBDJBMJEBE 7FSEF #BSSJP 4BO 'SBODJTDP .PNQPY <.BQB>
'JHVSB "VUPS $PSSFEPS 1MB[B #BSSJP 4BO 'SBODJTDP .PNQPY <.BQB>
;POBT EF BOUFKBSEJOFT RVF MB HFOUF EFMJNJUB FO TV WJWJFOEB FT EFDJS DPOGPSNBO MB BDFSB DPO WFHFUBDJ O Z VO DFSSBNJFOUP P NVSP
6O HSBO DPSSFEPS WJBM EF VOB QFRVF B TFDDJ O RVF UFSNJOB BCSJ OEPTF B VOB HSBO QMB[B RVF IPZ FT DPNQMFUBNFOUF EFUFSJPSBEB Z TJO OJOH O VTP
TPDJFEBE
'JHVSB "VUPS 7BDJP ;POB 1VCMJDB #BSSJP 4BO 'SBODJTDP .PNQPY <.BQB>
BMH O E B PMWJEBEP QBSB SFTQPOEFS B FTF HSBO UJUVMP JOJDJBM EF FTUF BSUJDVMP 1PS FTUF NPUJWP JNQMFNFOUP MB 5FDOPMPH B DPNP SFNQMB[P EF EJGFSFOUFT DPNQPOFOUFT Z TJTUFNBT BQPZBEP EFTEF MB TPTUFOJCJMJEBE FM IFDIP EF QPEFS TBDBS VO DPNCVTUJCMF OP G TJM B QBSUJS EF VO HSBOP EF NB [ FT VO EFTDVCSJNJFOUP RVF BCSF NJM QPTJCJMJEBEFT B MB JOEVTUSJB EFM NVOEP JODMVJEB MB DPOTUSVDDJ O -B JEFB EF JNQMFNFOUBS VOB HFOFSBDJ O EF TVFMP $ NP TF IBS B #JFO TFB B USBW T EFM JODSFNFOUP EF FTQBDJPT DPMFDUJWPT JOZFDDJ O EF QSPHSBNBT BEJDJPOBMFT B MPT C TJDPT P QSPMJGFSBDJ O EF TVFMP WFHFUBM FO MVHBSFT JOVTVBMFT Z EFUFSJPSBEPT QPS MBT JOVOEBDJPOFT EFM SJP NPTUSPT FO FM DBQJUVMP BOUFSJPS KBSEJOFT GMPUBOUFT FTQBDJPT FTQBDJPT EF VTPT DBNCJBOUFT TFH O FM DMJNB Z MB IPSB DPNP SFDVSTPT GSFDVFOUFT FO MB DPOTUSVDDJ O Z DPNP FTUSBUFHJB B VO MBSHP QMB[P EF VO VSCBOJTNP RVF WFT EF DPOTVNJS QSPEVDF FTQBDJP QVCMJDP TVFMP
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
DJVEBE
-" "4&7&3"$* / 1"3&$& 1"35& %& 6/ 46& 0 */"-$"/;"#-& 1&30 -" 7&3%"% &4 :" 6/" 3&"-*%"% 1"-1"#-& 'JHVSB "VUPS
'JHVSB "VUPS .PNQPY "OUFKBSEJOFT WFSEFT QVCMJDPT .PNQPY +BSEJOFT *OU "OUFT 1SPEVD <'PUPHSBG B>
UFDOPMPHJB NFEJP BNCJFOUF Z SFDVSTPT
&OUSF MJOEFSP Z MJOEFSP EF DBEB WJWJFOEB FYJTUF VOB WBSJBDJ O FO MB TFDDJ O EF DBMMF %POEF FM FTQBDJP EF DBEB GSFOUF FT JOUFSWFOJEP QPS DBEB QSPQJFUBSJP Z EFQFOEJFOEP EF MBT OFDFTJEBEFT RVF FODVFOUSF -P RVF BNFSJUB RVF TF IBHBO NVDIPT DSVDFT EF QFSTPOBT Z SFDPSSJEPT NBT MBSHPT EPOEF JNQPTJCJMJUB RVF TF UFOHB VOB QBOPS NJDB DPNQMFUB EF MB DBMMF
-B SFVUJMJ[BDJ O EF BHVBT SFTJEVBMFT FT PUSB JEFB QBSB BQSPWFDIBNJFOUP EFM SFDVSTP I ESJDP QVFT DPO TV JNQMFNFOUBDJ O TF TPMVDJPOBS QSPCMFNBT EF DPOUBNJOBDJ O JOVOEBDJ O Z MPHSB BVNFOUBS TV EJTQPOJCJMJEBE $PNP TF IBS B $PO VO TJTUFNB JOEFQFOEJFOUF QBSB ESFOBS MBT BHVBT SFTJEVBMFT QSPWFOJFOUFT UF VOB QMBOUB EF USBUBNJFOUP DPO QSFWJB PCSB DJWJM EPOEF TPO USBUBEBT DPO VO QSPDFTP EF EFDBOUBDJ O Z EFQVSBDJ O -BT BHVBT EFQVSBEBT TF QVFEFO SFVUJMJ[BS QBSB SJFHP IVNBOP JOPEPSPT QSPEVDDJ O EF FOFSH B
1%5 %JO NJDBT EFM )BCJUBS .PNQPY
YY
3FDPOTUSVDDJ O EFM FTQBDJP B QBSUJS EF JOVOEBDJPOFT 4FCBTUJ O 1BMBDJP 7 "SU DVMPT
'JHVSB "VUPS *OVUJMJ[BEB .PNQPY -B DBMMF DPNP MP QVCMJDP <'PUPHSBG B>
-B N YJNB NF[DMB FO MB C TRVFEB DPOTUBOUF EFM NBZPS OVNFSP EF QPTJCMFT SFMBDJPOFT FOUSF BDUPSFT GVODJPOFT UJQPT Q CMJDPT FTQBDJPT Z CFOFGJDJBSJPT
TPDJFEBE
$PNP TF IBS B $PO TJTUFNBT SFDPMFDUPSFT EF BHVBT FO MBT DVCJFSUBT DPO JNQMFNFOUBDJ O EF JOGSBFTUSVDUVSB FO DBOBMFT Z BMFSPOFT SFDPMFDUPSFT GJMUSPT QVSJGJDBEPSFT EF BHVB VO UBORVF QBSB BMNBDFOBNJFOUP Z TJTUFNB IJES VMJDP QBSB FM CPNCFP : OVFWBT BMUFSOBUJWBT FOFSH UJDBT BMUFSOP B MB SFDPMFDDJ O EF BHVBT FO MB DVCJFSUB : QPS VMUJNP MB QPTJCJMJEBE EF JNQMFNFOUBS VOBT WJWJFOEBT BOGJCJBT GMPUBOUFT B GBMUB EF HBSBOU BT QBSB EJTNJOVJS MBT JOVOEBDJPOFT B DBVTB EFM SJP .BHEBMFOB Z QPS GBMUB EF ESFOBKF EF MBT BHVBT MMVWJBT FNQP[BEBT FO MB SFHJ O EF .PNQPY DPNQMFNFOUBEB Z FNQMFBOEP MBT EJGFSFOUFT UFDOPMPH BT NFODJPOBEBT BOUFSJPSNFOUF B QBSUJS EF FUBQBT RVF TF WBO EBOEP TFH O FM DBNCJP FO MP VSCBOP FTUBT WJWJFOEBT TF JS O BEBQUBOEP EF B QPDP B FTB WJWJFOEB QBMBGJUJDB
'JHVSB "VUPS .PNQPY &TQBDJBMJEBE <'PUPHSBG B>
DJVEBE
IJESPFM DUSJDB QBSB JODSFNFOUBS MB EJTQPOJCJMJEBE Z FM BQSPWFDIBNJFOUP EF BGPSPT RVF BOUFT FSBO BHVBT OFHSBT QBSB BT GBDJMJUBS FM BHVB QPUBCMF EF DPOTVNP IVNBOP 6OJEP UBNCJ O DPO MB SFDPMFDDJ O EF BHVBT MMVWJBT Z FOFSH B DPNP GJOBMJEBE EF HFOFSBS QSPWJTJPOFT QBSB FM VTP EPNFTUJDP EF MBT WJWJFOEBT EF FTUB SFHJ O Z FM DPOTVNP IVNBOP
UFDOPMPHJB NFEJP BNCJFOUF Z SFDVSTPT
$ NP TF IBS B -BT DBTBT FTUBS BO GBCSJDBEBT EF NBUFSJBM MJWJBOP Z DPO VOB CBTF IVFDB MP RVF MF QFSNJUF Z MF EF MB GBDJMJEBE EF GMPUBS MB FTUSVDUVSB FTU NFSBNFOUF EFQPTJUBEB FO FM TVFMP Z BKVTUBEB B QPTUFT EF VOB EFUFSNJOBEB QSPGVOEJEBE DPO BOJMMPT EFTMJ[BOUFT MP RVF MF QFSNJUF GMPUBS IBDJB BSSJCB TJ DSFDFO MPT DBVTFT EFM SJP .BHEBMFOB
'JHVSB "VUPS 'JHVSB "VUPS .PNQPY ;POBT WFSEFT PMWJEBEBT &TQBDJP 1VCMJDP "DUVBM TJO JOUFSWFOJS <'PUPHSBG B> <'PUPHSBG B>
1%5 %JO NJDBT EFM )BCJUBS .PNQPY
YY