• Aucun résultat trouvé

Luttes au sein de l'institution, luttes entre institutions. L'expertise politique du Conseil Économique, Social et Environnemental à l'épreuve de ses publics

N/A
N/A
Protected

Academic year: 2021

Partager "Luttes au sein de l'institution, luttes entre institutions. L'expertise politique du Conseil Économique, Social et Environnemental à l'épreuve de ses publics"

Copied!
163
0
0

Texte intégral

(1)

HAL Id: dumas-00760027

https://dumas.ccsd.cnrs.fr/dumas-00760027

Submitted on 3 Dec 2012

HAL is a multi-disciplinary open access

archive for the deposit and dissemination of sci-entific research documents, whether they are pub-lished or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers.

L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés.

Luttes au sein de l’institution, luttes entre institutions.

L’expertise politique du Conseil Économique, Social et

Environnemental à l’épreuve de ses publics

Félix Palla

To cite this version:

Félix Palla. Luttes au sein de l’institution, luttes entre institutions. L’expertise politique du Conseil Économique, Social et Environnemental à l’épreuve de ses publics. Science politique. 2012. �dumas-00760027�

(2)

! "!

!

"##"$

%

&#'(

$$

$

$

$

$

"

))&&$*)'+&,-'."',&$

/0112/01/$

! ! ! !

3456789$:$$

$

-6;<$=>$?789@A76B$?9$C87D7AA9$E>FA7G$!86H9<<9;8$?9$-@79B@9$!6=7A7I;9

$

! ! ! ! ! ! !

3/

$

J

$

-

KL'K#KE'&$&.$

'

)-.'.*.'K)-$M*$

!

K#'.'N*&

$

*

)'+&,-'.&$

!

",'-$

'

$

!

").O&K)

2-

K,CK))&

$

#;AA9<$>;$<97B$?9$=P7B<A7A;A76BG$=;AA9<$9BA89$7B<A7A;A76B<$

#P9QR98A7<9$R6=7A7I;9$?;$L6B<97=$&@6B657I;9G$-6@7>=$9A$

&BS786BB959BA>=$T$=P4R89;S9$?9$<9<$R;U=7@<$

(3)

! #!

(4)

! $! %&'&()*&'&+,-!.!!

!

/&!,*&+-!*)*!0!(&'&()*&(!1(*2*,,&!345,*!0!67*!8&!9:*-;!9<4=:(9;!9<4>:*(!?>*,?!67&@67&-! ?)7&*@-;!9&!'<4>:*(!@4*--?!7+&!2(4+9&!@*=&(,?!94+-!@4!):+97*,&!9&!)&!,(4>4*@!&,!9&!'<4>:*(! :AA&(,! 67&@67&-! 9<B&7(&7-&-! *9?&-C! /&! ,*&+-! 0! @7*! 9*(&! '4! 2(4,*,79&;! &+-7*,&;! D:7(! @<&E,(4:(9*+4*(&! F(:A&--&7(! 67<&@@&! &-,! .! -&-! &+-&*2+&'&+,-! &,! -&-! ):+-&*@-! '<47(:+,! A:(,&'&+,!'4(67?C!

/&!>:79(4*-!47--*!,?':*2+&(!,:7,&!'4!2(4,*,79&!0!G4+*&@!34E*&;!D:7(!@4!674@*,?!9&! -:+! -?'*+4*(&! 9&! H?,B:9:@:2*&;! 9*-D&+-?! 4>&)! B7':7(;! 2&+,*@@&--&! &,! (*27&7(;! D:7(! @&-! *++:'=(4=@&-! -4>:*(-! &,! -4>:*(IA4*(&! 67<*@! '<4! D&('*-! 9<4)67?(*(;! D:7(! @&! -:7>&+*(! D?(&++&!67<*@!'&!@4*--&(4!9&!)&,,&!4++?&!9<?,79&C!

! J&-!'&'=(&-!97!KLML!67*!:+,!A4)*@*,?!)&!,(4>4*@;!67*!'<:+,!4)):(9?!@&7(!,&'D-!&,! (&+97! '*@@&! -&(>*)&-! '?(*,&+,! &+-7*,&! '4! D@7-! >*>&! (&):++4*--4+)&C! /<4*! (&+):+,(?! 9&-! 2&+-! D4--*:++4+,-;! =(*@@4+,-! &,! 4,,4)B4+,-! 67*! :+,! ):+,(*=7?! 0! (&+9(&! )&! ,(4>4*@! 9&! (&)B&()B&!42(?4=@&!&,!&+(*)B*--4+,C!

/&! (&'&()*&! ?24@&'&+,! '4! A4'*@@&! N! &,! D@7-! D4(,*)7@*O(&'&+,! ':+! DO(&! N! &,! ,:7-! '&-! D(:)B&-! D:7(! '<4>:*(! 4*9?! &,! -7DD:(,?! D&+94+,! 67&! 8&! ,(4>4*@@4*-! 0! )&! '?':*(&!.! %4A4P@@&! &,! H4(247E;! Q*(2*+*&;! K@&@*4;! R++&IL''4+7&@@&;! 1:(*-;! SB:'4-;! R@&E4+9(&! &,! =*&+!9<47,(&-C!!

(5)

! T!

(6)

! U!

$

$

$

(7)

! W!

(8)

! X!

-

K33"',&

$:

$

$

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`9@A7S98$;B$8>RR68A$>;$R6=7A7I;9!CCCCCCCCCCCCCCCCCCCCCCCC!UX! I! =9$L&-&$:$;B9$7B<A7A;A76B$<6;<$@6BA8a=9!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!U[! 1C! \+&!D@4)&!):+)7((&+)?&;!7+!(]@&!9*AA7-;!9&-!):@@4=:(4,*:+-!9*>&(-&-!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!W"! I! !>8A>D98$=>$57<<76B$?9$@6B<97=$:$?9<$7B<A7A;A76B<$9B$@6B@;889B@9!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!W"! I! *B$8a=9$75R68A>BA$>;R8^<$?P;B$R;U=7@$A8^<$X4A486D^B9!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!WT! '''V! *B9$84H6859$R6;8$I;67$H>789$\$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$]b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cW! LX>R7A89$''$&A;?9$?9<$@>8>@A487<A7I;9<$?9<$A8>S>;Q$?;$L&-&$9A$?9$=9;8$56?9$ ?P4=>U68>A76B$:$$*B9$9QR98A7<9$R6=7A7I;9$7B4D>=9$T$;<>D9$R87B@7R>=959BA$7BA98B9$V$cc! 'V! #P4A;?9$?9$I;9=I;9<$@><$R>8A7@;=798<$:$@6559BA$R9<98$R6=7A7I;959BA$\$VVVVVVVVVVVVVVVVVVVVVV$b0! "V! -9$89B?89$7B@6BA6;8B>U=9!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!["!

(9)

! _! I! L6889<R6B?89$T$?9<$9B`9;Q$<>7==>BA<$9A$<P7B<@8789$>;$@d;8$?9$=P>@A;>=7A4!CCCCCCCCCCCCCCCCCCCC!["! I! %685;=98$?9<$R86R6<7A76B<$R6=7A7I;9<$9A$R84@7<9<!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC![U! I! eS7A98$=9<$>S7<$7B;A7=9<!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC![_! 1C! M9<$8>RR68A9;8<$7BS9<A7<$9A$5;=A7R6<7A76BB4<V!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"Z"! I! M9<$8>RR68A9;8<$?7HH489559BA$7BS9<A7<G$?6BA$=9<$89<<6;8@9<$R98<6BB9==9<$ @65RA9BA!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"Z"! I! M9<$9BD>D959BA<$;A7=9<$:$=9<$89<<6;8@9<$9A$@>R7A>;Q$R98<6BB9=<$?>B<$?9<$ @6BH7D;8>A76B<$R>8A7@;=7^89<V!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"ZT! ''V! !86<6R6D8>RX79$9A$7BS9<A7<<959BA$?9<$7B?7S7?;<$595U89<$?;$L&-&$VVVVVVVVVVVVVVVVVVVVVVV$10c! "V! !86H7=<$9A$@65R4A9B@9<$:$=>$@>887^89$?9$89R84<9BA>BA!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"Z[! I! #9$@><$?9<$@6B<97==98<$R6=7A7<4<!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"Z[! I! !>8@6;8<G$89<<6;8@9<$9A$@65R4A9B@9<$?9<$@6B<97==98<!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!""Z! I! =9<$>S7<$?;$L&-&$:$I;9==9$9QR98A7<9$\!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!""$! CV! #>$R=>@9$?;$L&-&$?>B<$=>$@>887^89$?9$89R84<9BA>BA!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!""W! I! M9<$7BS9<A7<<959BA<$R98<6BB9=<$?7HH489BA<!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!""W! I! #9$R89<A7D9$?;$5>B?>A$?9$@6B<97==98$>;$L&-&!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!""[! I! N;9==9$@;=A;89$?P7B<A7A;A76B$\!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"#Z! '''V! #9<$=6D7I;9<$7BA98B9<$?9$=P4=>U68>A76B$?9<$A8>S>;Q$?;$L&-&$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1/[! "V! *B9$7B<A7A;A76B$A6;8B49$S98<$=P4@87A;89!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"#U! I! *B9$>?57B7<A8>A76B$@65R4A9BA9$R6;8$=P4@87A;89!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"#U! I! #>$@6BA87U;A76B$?;$<98S7@9$?9$=>$@655;B7@>A76B!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"#X! I! !><$?9$89=>A76B<$7B<A7A;A76BB9==9<$<Y<A45>A7I;9<!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"#_! CV! #>$H>U87I;9$?9<$8>RR68A<$:$?9<$R86@4?;89<G$86;A7B9<$9A$=6D7I;9<$;B7I;959BA$ 7BA98B9<$\!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"$"! I! #9<$>;A6<>7<7B9<$:$I;9=<$?9<A7B>A>789<$\!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"$"! I! #>$R875>;A4$?9<$=6D7I;9<$7BA98B9<$?>B<$=P4@87A;89$9A$=9$S6A9$?9<$>S7<!CCCCCCCCCCCCCCCCCCCCCCCC!"$T! L6B@=;<76B$:$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1ZW! C7U=76D8>RX79$:$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1Zb! K;S8>D9<$9A$@6BA87U;A76B<$<;8$=P7B<A7A;A76B$:$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1Zb! K;S8>D9<$D4B48>;Q$:$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1Zb! "8A7@=9<$9A$@6BA87U;A76B<$T$?9<$6;S8>D9<$@6==9@A7H<$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1[0! ,>RR68A<$9A$>;A89<$:$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1[1! ,4H489B@9<$4=9@A86B7I;9<:$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1[1! "S7<G$,>RR68A<$9A$&A;?9<$?;$L&-&$:$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1[/! "BB9Q9<$:$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1[[!

(10)

! [! "BB9Q9$Bf$1$:$?6<<798$?9$R89<<9$Bf1$$=>$R=>@9$?;$L&-&$?>B<$=9<$54?7><$D4B48>=7<A9<G$ I;9=I;9<$>8A7@=9<$?;$`6;8B>=$!"#$%&'"$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1[[! R(,*)@&!+`!"!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"TT! R(,*)@&!+`!#!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"TT! R(,*)@&!+`$!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"TU! R(,*)@&!+`!T!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"TW! R(,*)@&!+`!U!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"TX! R(,*)@&!+`W!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"T_! R(,*)@&!+`X!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"UZ! R(,*)@&!+`!_!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"U"! R(,*)@&!+`![!.!CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC!"U#! "BB9Q9$Bf$/$:$<A>A7<A7I;9<$89=>A7S9<$>;$A8>7A959BA$`6;8B>=7<A7I;9$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1__! "BB9Q9$BfZ$:$=7<A9$?9<$D86;R9<$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1_W! "BB9Q9$Bf[$:$<@8;A7B$?9$=P>S7<$<;8$=9$A8>S>7=$?9$B;7A$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1_c! "BB9Q9$Bf$_$:$KHH89$$?9$<A>D9$R6;8$=P9BI;gA9$?P7BH=;9B@9$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1]0! "BB9Q9$Bf$]$:$=7<A9$?9<$R98<6BB9<$89B@6BA849<$VVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVV$1]1!

$

$

(11)

! "Z!

L

O"!'.,&$').,KM*L.'%

$$

J&! B*4,7-! &+,(&;! 9<7+&! D4(,;! @&-! '*--*:+-"!97! K:+-&*@! L):+:'*67&;! M:)*4@! &,!

L+>*(:++&'&+,4@!aKLMLb;!-&-!':Y&+-;!@<*'D:(,4+)&!67*!@7*!&-,!,B?:(*67&'&+,!(?-&(>?&;! +:,4''&+,!D4(!@4!):+-,*,7,*:+!9&!@4!UO'&!%?D7=@*67&#!!&,;!9<47,(&!D4(,;!@4!674-*!4=-&+)&!

9&! D:*9-! D:@*,*67&! 9&! @<*+-,*,7,*:+!N! A4*=@&! 479*&+)&! 9&-! (4DD:(,-! &,! 4>*-$;! @&-! 9*AA*)7@,?-!

67<&@@&!):++4c,!D:7(!(&'D@*(!):((&),&'&+,!-&-!'*--*:+-!&,!@&-!):+,(:>&(-&-!9:+,!&@@&!A4*,! @<:=8&,T!4'O+&!0!+:7((*(!67&@67&-!*+,&((:24,*:+-!-7(!@&!KLMLC!M4+-!,&+*(!0!&ED@*67&(!)&,!

?)4(,! &+,(&! @4! ,B?:(*&! &,! @4! D(4,*67&;! &+,(&! 7+! A:(,! D:,&+,*&@! 9:++?! 87(*9*67&'&+,;! D(:)@4'?! 47! ,(4>&(-! 9&! 9*-):7(-U!&,! 7+&! (?4@*,?! A4)*@&'&+,! :=8&),*>4=@&;! *@! '&! D4(4c,!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

"!d+! (&>*&+9(4! &+! 9?,4*@! -7(! )&-! ?@?'&+,-! 94+-! @&-! D42&-! 67*! -7*>&+,! D:7(! D(?-&+,&(!

@<*+-,*,7,*:+!

#!J&!KLML!&-,!7+&!4--&'=@?&!):+-,*,7,*:++&@@&!9&D7*-!"[U_;!@&!,*,(&!ef!9&!@4!):+-,*,7,*:+!

@7*!?,4+,!(?-&(>?;!&ED@*)*,4+,;!>427&'&+,;!-&-!'*--*:+-;!)&(,4*+-!9&!-&-!':9&-!9&!-4*-*+&! &,! -:+! )B4'D! 9&! ):'D?,&+)&! a-4! ):'D:-*,*:+! &,! 47,(&-! D(?)*-*:+-! (&+>:*&+,! 0! 7+&! @:*! :(24+*67&;! @4*--4+,! 47! @?2*-@4,&7(! @&! -:*+! 9&! (?2@&(! 7+&! @4(2&! D4(,! 9&! -:+! A:+),*:++&'&+,bC! K&,,&! ):+-,*,7,*:++4@*,?! ):+AO(&! 0! @<*+-,*,7,*:+! )&(,4*+&-! )4(4),?(*-,*67&-! -7(! @&-67&@@&-! :+! D:7((4! (&>&+*(! a&+! ,&('&! 9<47,:+:'*&! >*-I0I>*-! 9&-! D:7>:*(-! D7=@*)-;! 9&! D?(&++*,?! 24(4+,*&! D4(! @&! -,4,7,! ):+-,*,7,*:++&@;! &,)Cb! '4*-! +:,:+-;! D:7(! )&! 67*! +:7-! *+,?(&--&! *)*;! 67&! @&! KLML! =?+?A*)*&! ,B?:(*67&'&+,! 97! D(&-,*2&! 67&! (&D(?-&+,&! @4! ):+-,*,7,*:++4@*,?! &,! 67&;! 9&! -7()(:*,;! @4! (?>*-*:+! ):+-,*,7,*:++&@@&! 97! #$! 87*@@&,!#ZZ_!@7*!4!D:(,?!7+&!4,,&+,*:+!D4(,*)7@*O(&!@:(-67<&@@&!47(4*,!D7!g,(&!@<:))4-*:+!9&!! (&'&,,(&!&+!)47-&!-:+!&E*-,&+)&C!

$!h&! -&(4*,I)&! 67&! '?9*4,*67&'&+,;! ):''&! @<4,,&-,&+,! @&-! (&)B&()B&-! -7(! @&-! D4(7,*:+-!

'?9*4,*67&-!67<:+!4!&7!@<:))4-*:+!9&!(?4@*-&(!D:7(!@&!9:--*&(!9&!(&)B&()B&!9&!H4-,&(!";! '4*-! 47--*! D4(! @4! D@4)&! 67&! D(&+9! @<*+-,*,7,*:+! 94+-! @&! -Y-,O'&! D:@*,*67&;! ):''&! :+! @&! >&((4!D4(!@4!-7*,&C!

T!d+!(&>*&+9(4!47!):7(-!97!9?>&@:DD&'&+,!-7(!@4!D@4)&!67<:))7D&+,!)&-!):+,(:>&(-&-;!@&-!

+:'=(&7-&-! (&'*-&-! &+! )47-&! 9&! @<*+-,*,7,*:+! &,! @&-! ):+-?67&+)&-! 67<&@@&-! :+,! -7(! @&! ,(4>4*@!97!KLMLC!

U!d+!A4*,!*)*!(?A?(&+)&!47!9*-):7(-!67&!,*&+,!@<*+-,*,7,*:+!-7(!&@@&!'g'&;!):'D(&+4+,!9&-!

':Y&+-!9&!):''7+*)4,*:+!):''&!-:+!-*,&!f+,&(+&,!:7!-*'D@&'&+,!47!,(4>&(-!9&-!9*(&-! 9&-!4),&7(-!*+)4(+4+,!@<*+-,*,7,*:+!0!,:7-!-&-!+*>&47E!.!9&-!&+,(&,*&+-!(?4@*-?-!0!@<:))4-*:+!

(12)

! ""! *+,?(&--4+,! 9&! ,(4>4*@@&(! -7(! )&,,&! *+-,*,7,*:+! &,! @&! D(:=@O'&! 9&! -4! D@4)&! 47! -&*+! 97! -Y-,O'&!D:@*,*67&!&,!9&!-4!(&'*-&!&+!67&-,*:+;!&+!D:(,4+,!@&!(&24(9;!,(O-!-D?)*A*67&'&+,;! -7(! )&! 67<&@@&! D(:97*,! N! 9&-! (4DD:(,-! &,! 4>*-! N! &,! -7(! @&-! :=8&),*A-! 67<&@@&! D:7(-7*,! 0! ,(4>&(-!)&!,(4>4*@!@0WC!!

J&! KLML! &-,! 4>4+,! ,:7,! 7+&! 4--&'=@?&! ):+-7@,4,*>&!.! ):+,(4*(&'&+,! 0! -&-! B:':@:27&-! ):+-,*,7,*:++&@-! 67&! -:+,! @<R--&'=@?&! +4,*:+4@&! &,! @&! M?+4,;! @&! K:+-&*@! ?):+:'*67&;!-:)*4@!&,!&+>*(:++&'&+,4@;!):''&!-:+!+:'!@<*+9*67&;!+<4!D4-!9&!D:7>:*(!9&! 9?)*-*:+!.!*@!):+-&*@@&C!f@!-<42*,!9<7+&!4--&'=@?&!67*!+&!@?2*AO(&!D4-!'4*-!67*!D&7,!9:++&(! 7+! 4>*-! -7(! 9&! +:'=(&7E! -78&,-! 4D(O-! -4*-*+&! 2:7>&(+&'&+,4@&;! D4(@&'&+,4*(&! :7! D4(! >:*&!9&!D?,*,*:+XC!L+!&AA&,;!&,!+:,4''&+,!D4()&!67&!-&-!'&'=(&-!+&!-:+,!D4-!?@7-!'4*-!

+:''?-;! @&! KLML! D(:97*,! 9&-! 4>*-! 67&! +&! ):+,(4*2+&+,! D4-! @&! 9?)*9&7(;! 67*! -:+,! -&7@&'&+,!)&+-?-!@&!(&+-&*2+&(!-7(!,:7,!D(:=@O'&!i!9&!)4(4),O(&!?):+:'*67&;!-:)*4@!:7! &+>*(:++&'&+,4@!j_C!K&!A4*-4+,;!*@!&+,&+9!i!):+-&*@@&(!@&!3:7>&(+&'&+,!&,!@&!F4(@&'&+,!&,!

D4(,*)*D&(! 0! @<?@4=:(4,*:+! 9&! @4! D:@*,*67&! ?):+:'*67&;! -:)*4@&! &,! &+>*(:++&'&+,4@&!j! '4*-! ?24@&'&+,! ):+,(*=7&(! 47! 9*4@:27&! -:)*4@;! 0! @<?>4@74,*:+! 9&-! D:@*,*67&-! D7=@*67&-;! i!D(:':7>:*(! 7+! 9*4@:27&! ):+-,(7),*A! &,! 7+&! )::D?(4,*:+! 4>&)! @&-! 4--&'=@?&-! ):+-7@,4,*>&-!j!47E!9*AA?(&+,-!+*>&47E!9&!2:7>&(+&'&+,!a@:)4@;!k,4,;!&7(:D?&+b!!&,;!&+A*+;!

i!):+,(*=7&(!0!@<*+A:('4,*:+!9&-!)*,:Y&+-!j[C!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 97! 9:--*&(! 9&! (&)B&()B&! &,! 97! D(?-&+,! '?':*(&;! '4*-! ?24@&'&+,! 9&-! ):+>&(-4,*:+-! *+A:('&@@&-! &,! 9&! +:'=(&7-&-! :=-&(>4,*:+-! D&('&,,&+,! 9<4,,&-,&(! 9&! )&,,&! )(:Y4+)&! D4(,42?&! 47! -&*+! 9&! @<*+-,*,7,*:+! D4(! @&-! *+9*>*97-! 67*! Y! ,(4>4*@@&+,! 9&! @<7,*@*,?! &,! 9&! @<*'D:(,4+)&!97!KLMLC!!

W!G&-!:=8&),*A-!67*;!:+!D:7((4!Y!(&>&+*(;!D&7>&+,!g,(&!-722?(?-!:7!*'D:-?-!D4(!9*AA?(&+,-!

4),&7(-!-*,7?-!47!-&*+!&,!B:(-!9&!@<*+-,*,7,*:+;!47,4+,!67<*@-!D&7>&+,!(?-7@,&(!9&!@:2*67&-;! 9&!@7,,&-!&,!9&!):'D(:'*-!*+,&(+&-C!!!

X!G&D7*-! @4! (?A:('&! ):+-,*,7,*:++&@@&! 97! #$! 87*@@&,! #ZZ_! D:7(! )&! 9&(+*&(! D:*+,;! =*&+!

67<47)7+&!D?,*,*:+!+<4*,!&+):(&!4=:7,*C!!

_!R(,*)@&!XZ!9&!@4!K:+-,*,7,*:+C!!

[ !KdhMLfJ! LKdhdHfl\L;! MdKfRJ! LS! LhQf%dhhLHLhSRJ;! "#! $%&%! #'! ()#*;! m&+! @*2+&n;!

B,,D.oopppC@&)&-&CA(o-*,&-o9&A47@,oA*@&-oJ&IKLMLI&+I=(&AI"_IZ[I#Z""CD9A;! aD42&! ):+-7@,?&!@&!"#!4>(*@!#Z"#bC!!

(13)

! "#! J&!KLML!&-,!47--*!7+&!*+-,*,7,*:+!):+-,*,7,*:++&@@&!.!@&!,*,(&!ef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g)B4+,! @4! ,(4+-'*--*:+! 9&! )&(,4*+&-! B4=*,79&-;! 9<47,(&!D4(,C!M*!)&,,&!(?A:('&!':9*A*&!@&!,&E,&!):+-,*,7,*:++&@!(&@4,*A!47!KLML;!)&!+<&-,!D4-! D4(!@0!67<&@@&!D(:97*,!-:+!(?-7@,4,!@&!D@7-!A:(,C!d+!D:7((4!(&>&+*(!&+!9?,4*@!-7(!)&!D:*+,!47! ):7(-! 97! 9?>&@:DD&'&+,;! '4*-! *@! ):+>*&+,! 9&! D(?)*-&(! 9O-! 0! D(?-&+,! 67&! @&-! 67&@67&-! @*2+&-! ':9*A*?&-! 97! ,*,(&! ef! 9&! @4! ):+-,*,7,*:+! :+,! ':*+-! 9<*'D4),! -7(! @&! KLML! 67&! @4! A&+g,(&! 9<:DD:(,7+*,?! :7>&(,&! D4(! )&,! 4),&! -:@&++&@C! R@:(-! 67&! 9&D7*-! @:+2,&'D-! 9&! +:'=(&7E! :=-&(>4,&7(-;! *+,&(+&-! &,! &E,&(+&-! 0! @<*+-,*,7,*:+;! )(*,*67&+,! -:+! A:+),*:++&'&+,!&,!@4!D:-*,*:+!67<&@@&!:))7D&!>*-I0I>*-!9&-!47,(&-!*+-,*,7,*:+-!D:@*,*67&-! 9&!D(&'*&(!D@4+;!:+!47,:(*-&!D4(!)&,,&!(?A:('&!):+-,*,7,*:++&@@&!7+!2(4+9!+:'=(&!9&!)&-! 4),&7(-! 0! D(:D:-&(;! *'D:-&(! &,! '&,,(&! &+! q7>(&! @&-! -:@7,*:+-! 67<*@-! &+>*-42&+,C! F4(! @4! ':9*A*)4,*:+! 9&! @4! @:*! :(24+*67&! (?2*--4+,! =*&+! D@7-! D(?)*-?'&+,! 67&! @4! K:+-,*,7,*:+! @&! A:+),*:++&'&+,! 97! KLML;! D4(! @&! )B4+2&'&+,! 9&! -:+! (O2@&'&+,! *+,?(*&7(;! '4*-! -7(,:7,! D4(! @<4((*>?&! 9&! +:7>&47E! 4),&7(-! 47! -&*+! 9&! @<4--&'=@?&"Z!&,! @<?@&),*:+! 9<7+! F(?-*9&+,!

(?A:('4,&7(! 67*! -4*,! D(:A*,&(! 9&! )&! ':'&+,! 9Y+4'*67&! D:7(! *'D:-&(! 9<*'D:(,4+,-! )B4+2&'&+,-;!@&!KLML!&-,!,(4+-A:('?!&+!D(:A:+9&7(C!d+!(&>*&+9(4!9&!'4+*O(&!=*&+!D@7-! D(:=@?'4,*-?&! -7(! @4! ):+97*,&! 9&! )&-! )B4+2&'&+,-;! )&! 67<*@-! *'D@*67&+,! &,! @&-! 4),&7(-! 67<*@-! 4+*'&+,!r! *@! ):+>*&+,! D:7(! @<*+-,4+,! 9&! 9?)(*(&! D@7-! D(?)*-?'&+,! +:,(&! :=8&,! 9<?,79&C!!

\+! 9?,:7(! D4(! @<B*-,:*(&! D4(4c,! *)*! ,:7,! 0! A4*,! B&7(*-,*67&;! +:,4''&+,! D:7(! ):'D(&+9(&! 67&! @&-! &+8&7E! 9&! (&D(?-&+,4,*:+! 9&! @4! -:)*?,?! 67*! ,&+9&+,;! &+):(&! 478:7(9<B7*;! 0! 87-,*A*&(! 9&! +:'=(&7E! 9*-):7(-;! D(*-&-! 9&! D:-*,*:+! &,! 4),*:+-! -<*+-)(*>&+,! 94+-!7+&!B*-,:*(&!@:+27&C!f@!-<42*,!9&!@<:DD:-*,*:+!67<:+!47(4*,!,&+94+)&!0!A4*(&;!-7*,&!0!@4!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

(14)

! "$! %?>:@7,*:+! V(4+s4*-&;! 9&! @4! i!-:)*?,?! )*>*@&! ):+,(&! @<L,4,! 84):=*+!j""C! J<*9?&! -&(4*,! 9&!

9?D4--&(! )&,,&! :DD:-*,*:+! D4(! @4! )(?4,*:+! 9<*+-,*,7,*:+-! )&+-?&-! -&(>*(! 9<*+,&('?9*4*(&! 4>&)!@&-!-Y+9*)4,-!&,!@&-!4--:)*4,*:+-;!67*!@&-!*+,?2(&(4*&+,!47!-Y-,O'&!D:@*,*67&;!,:7,!&+! )4+4@*-4+,!@&7(!&ED(&--*:+C!!

J&!"W!84+>*&(!"[#U!&-,!-*2+?!@&!9?)(&,!9&!)(?4,*:+!97!K:+-&*@!+4,*:+4@!?):+:'*67&! aKhLb;!):+A*('?!D4(!@4!@:*!97![!4>(*@!"[#WC!f@!-<42*,!9<7+&!*+-,*,7,*:+!(?7+*--4+,!4@:(-!TX! ):+-&*@@&(-! +:''?-! D4(! @&! 2:7>&(+&'&+,;! 9&! A4s:+! 9*-)(?,*:++4*(&! a-4+-! D(:D:-*,*:+bC! f@-! ?,4*&+,! (?D4(,*-! &+! ,(:*-! 2(:7D&-!.! @&! )4D*,4@;! @&! ,(4>4*@! &,! @4! ):+-:''4,*:+! &,! 9*-D:-4*&+,! 9<7+&! >:*E! ):+-7@,4,*>&! 47D(O-! 97! ! 2:7>&(+&'&+,C! f@! -<42*--4*,! 4@:(-;! D:7(! (&D(&+9(&!@&-!':,-!9<R@4*+!KB4,(*:,;!9<4DD:(,&(!i!7+&!(?D:+-&!-D?)*A*67&!47E!9?=4,-!-7(! @&! ):(D:(4,*-'&! &,! -7(! @4! D@4)&! 9&-! -Y+9*)4,-! A4)&! 47E! D:7>:*(-! @?2*-@4,*A! &,! &E?)7,*A!j;! 9<*+,?2(&(! @4! -:)*?,?! 47! -Y-,O'&! D:@*,*67&! 47,(&'&+,! 67&! D4(! @4! (&D(?-&+,4,*:+! 47! F4(@&'&+,;!&+!@7*!9:++4+,!7+!)&(,4*+!D:*9-;!67*!(&-,&!'4*,(*-?C!!

J&! "[! '4*! "[$W!&-,! >:,?&! @4! @:*! 67*! @&! ':9*A*&! &+! D(:A:+9&7(;! &+! ?@4(2*--4+,! +:,4''&+,! @&! +:'=(&! 9&! ):+-&*@@&(-;! (?D4(,*-! 9*AA?(&''&+,! aD4(! )4,?2:(*&-! 9<*+,?(g,-b! &,!9?-*2+?-!47,(&'&+,!aD4(!@&-!:(24+*-4,*:+-!D(:A&--*:++&@@&-!&,!4--:)*4,*>&-!&,!+:+!D@7-! -&7@&'&+,! D4(! @&! 2:7>&(+&'&+,bC! f@-! :+,! 4@:(-! D:7(! '*--*:+! 9&! ):+-&*@@&(! @&! 2:7>&(+&'&+,! &,! @&! F4(@&'&+,! a7+&! ):''*--*:+! D4(@&'&+,4*(&! D&7,! -4*-*(! @&! KhLb! &,! 9<4(=*,(&(!9&-!):+A@*,-!-:)*47EC!K&,,&!@:*!,&+9!0!A4*(&!(&--&'=@&(!@&!KhL!0!7+&!4--&'=@?&!.! 4@:(-!67<*@!+&!-<42*--4*,!67&!9<7+&!D&,*,&!-,(7),7(&!49'*+*-,(4,*>&!0!@<:(*2*+&;!:+!@7*!9:++&! 9&! @<*'D:(,4+)&! &,! :+! &+,&+9! 24(4+,*(! 7+&! '&*@@&7(&! (&D(?-&+,4,*:+! 9&-! *+,?(g,-! 9&! -:)*?,?C!K<&-,!)&,,&!A:('&!*+-,*,7,*:++&@@&!67*!-&(4!(&D(*-&!-:7-!@4!T&!%?D7=@*67&!94+-!@4!

9&7E*O'&!D(:D:-*,*:+!):+-,*,7,*:++&@@&C!

L+! "[TZ! @&! KhL! &-,! -7DD(*'?!r! @&! K:+-&*@! ?):+:'*67&! 9&! @4! T&! %?D7=@*67&! +&!

D(?-&+,&(4! 67&! D&7! 9<*++:>4,*:+-C! J&! D(:8&,! 9<4>(*@! "[TW! D(?>:Y4*,! 7+! ):+-&*@! ?):+:'*67&! -7AA*-4''&+,! D7*--4+,;! 94+-! 7+! ):+,&E,&! ':+:)4'?(4@;! D:7(! ):+,(*=7&(! 0! @4!@*'*,4,*:+!&,!0!@<&+)49(&'&+,!9&!@<R--&'=@?&!+4,*:+4@&C!V*+4@&'&+,;!@&!=*)4'?(4@*-'&! 97! D(:8&,! 9<:),:=(&! "[TW! @4*--&! 87-,&! 47! K:+-&*@! ?):+:'*67&! @&! (4+2! 9<*+-,*,7,*:+! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

""!KtRS%fdS!RC;!"+!,-./0)+12#!3/02+4#!5!4+!*)+'6+23#!7!48#9:-)2#'0#!,;!$/'3#24!'+12/'+4!

-0/'/.2<;#!=>?@A=>@BC!F4(*-;!J4!9?):7>&(,&;!#ZZ#C!

(15)

! "T! ):+-,*,7,*:++&@@&;! 242+4+,! 4*+-*! 7+&! +:7>&@@&! 9*2+*,?! 94+-! 7+! )49(&! :(24+*-4,*:++&@! &,! A:+),*:++&@! 67*! -&! (?>O@&! 2'! *2'#! (&@4,*>&'&+,! *9&+,*67&C! G&! -7()(:*,;! @&! -&7@! 4(,*)@&! ):+-,*,7,*:++&@! (&@4,*A! 47! ):+-&*@! ?,4*,! ,(O-! >427&! &,! @4*--4*,! 47! @?2*-@4,&7(! @&! -:*+! 9&! D(?)*-&(! @&-! '*--*:+-! &,! @<:(24+*-4,*:+! 9&! @<*+-,*,7,*:+!.! @&! ):+,(]@&! 9&! @<&ED(&--*:+! 9&-! ):(D-! *+,&('?9*4*(&-! N! D4(! @4! '4*,(*-&! 9&! @<:(24+*-4,*:+! &,! 97! A:+),*:++&'&+,! 9&! @<*+-,*,7,*:+!)&+-?&!@&-!(&D(?-&+,&(!N!(&-,4*,!D(?2+4+,C!!

J&! K:+-&*@! ?):+:'*67&! D(&+4*,! 4@:(-! @<4-D&),! 9<7+&! 4--&'=@?&!94+-! -:+! :(24+*-4,*:+! .! =7(&47! ?@7;! 2(:7D&-! :(24+*-?-! ):''&! 0! @<4--&'=@?&;! ):''*--*:+-! 9&! ,(4>4*@! -D?)*4@*-?&-;! D7=@*)*,?! 9&-! 9?=4,-;! &,)C! f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

K<&-,!0!@<47+&!9&!)&,,&!?>:@7,*:+!67&!@<:+!D&7,!):'D(&+9(&!@&!K:+-&*@!?):+:'*67&! &,!-:)*4@!aKLMb!9&!@4!UO'&!(?D7=@*67&;!67*!24(9&!-:+!-,4,7,!):+-,*,7,*:++&@!&,!9:+,!@4!'*-&!

&+!D@4)&!(&-,&!A@:7&;!@4*--4+,!,:,4@&'&+,!47E!D:7>:*(-!D7=@*)-!@4!)B4(2&!9&!D(?)*-&(!-:+! :(24+*-4,*:+! &,! -&-! 4,,(*=7,*:+-C! J&! KLM! &-,! 4@:(-! D@4)?! 7+*67&'&+,! 47D(O-! 97! 2:7>&(+&'&+,;! &,! &-,! :(24+*-?! ):''&! 7+&! 4--&'=@?&! (&D(?-&+,4,*>&! 67*;! D4(! -&-! ):'D?,&+)&-;! -&! (4DD(:)B&! D@7,],! 9&! ):+-&*@-! 9*,-! ,&)B+*67&-!.! @&-! 9?=4,-! +&! -:+,! D@7-! D7=@*)*-?-;! @&-! ):''*--*:+-! -:+,! (&'D@4)?&-! D4(! 9&-! i!-&),*:+-!j! a@&! 2:7>&(+&'&+,! D:7>4+,!Y!A4*(&!*+,&(>&+*(!9&-!'&'=(&-!+<4Y4+,!D4-!@&!-,4,7,!9&!):+-&*@@&(b;!@&!):+-&*@!47! F4(@&'&+,!&-,!-7DD(*'?!a-&7@!@&!3:7>&(+&'&+,!D&7,!-4*-*(!@&!KLMbC!R@:(-!67&!-4!'*--*:+;! (?-7'?&! 94+-! 7+! 4((g,! 97! ):+-&*@! 9<L,4,! 9&! "[XZ;! ):+-*-,&! 0! i!D4(,*)*D&(! 0! @4! D:@*,*67&! ?):+:'*67&!&,!-:)*4@&!!97!2:7>&(+&'&+,!j;!:+!+&!D&7,!67&!+:,&(!67&!)&,,&!D4(,*)*D4,*:+! -<&E&()&! 94+-! 7+! )49(&! D(:)?97(4@! ?,(:*,!.! @&! @?2*-@4,&7(;! @&! 2:7>&(+&'&+,! &,! 'g'&! @&! K:+-&*@! 9<L,4,! 9*-D:-&+,! 9&! ':Y&+-! *'D:(,4+,-! D:7(! ):+,(]@&(! @<:(24+*-4,*:+;! @&! A:+),*:++&'&+,! &,! @4! D@4)&! 67&! D&7,! D(&+9(&! )&,,&! *+-,*,7,*:+C! f@! -<42*,! 4@:(-! ! 9<7+&! &ED&(,*-&! '*-&! 47! -&(>*)&! 97! D:7>:*(;! =*&+! D@7-! 67&! @4! @*=(&! &ED(&--*:+! 9&-! ):(D-! *+,&('?9*4*(&-C!!

(16)

! "U! f@! A47,! 4,,&+9(&! "[_T! D:7(! 67&! -:*,! @4*--?! 47! KLM! @&! -:*+! 9&! A*E&(! -:+! (O2@&'&+,! *+,?(*&7(!&,!@&-!':94@*,?-!9&!-&-!(?7+*:+-;!'4*-!?24@&'&+,!D:7(!67&!-:*,!*+,(:97*,&!7+&! D(:)?97(&! 9<7(2&+)&! aD&('&,,4+,! ,B?:(*67&'&+,! 9&! '*&7E! (?D:+9(&! 47E! 4,,&+,&-! 9&-! 9&-,*+4,4*(&-!9&-!,(4>47E!97!KLMb;!&,!67&!-:*,!(?,4=@*&!@4!D7=@*)*-4,*:+!9&-!9?=4,-C!h:,:+-! 67<478:7(9<B7*!)&-!9?=4,-!-&!(?-7'&+,!0!7+&!(&D(?-&+,4,*:+!,B?u,(4@&;!(*&+!+<?,4+,!@4*--?! 47!B4-4(9;!,:7,!?,4+,!?)(*,!&,!D(?>7!0!@<4>4+)&C!J&-!?>&+,7&@-!):+A@*,-;!@&-!>(4*&-!D(*-&-!9&! D:-*,*:+! &,! 4(27'&+,4,*:+-! -&! 9?(:7@&+,! 47! ):7(-! 9&! (?7+*:+-! 9&! -&),*:+-! 67*;! 0! @4! 9*AA?(&+)&!9&!)&!67*!-&!D4--&!D:7(!@&-!):''*--*:+-!9&!@<R--&'=@?&!+4,*:+4@&!&,!97!M?+4,;! +&!@4*--&+,!(*&+!-:(,*(!9&!@&7(-!'7(-C!!

! F:7(! @<B*-,:*(&! (?)&+,&! 97! KLML;! :+! -<*+,?(&--&! 0! @4! (?A:('&! ):+-,*,7,*:++&@@&! 9&! #ZZ_;! 9:+,! @&-! &AA&,-! +&! -:+,! D4-! &+):(&! ,:7-! ):++7-"#!&,! 67*! A&(4!

@<:=8&,! 9<7+&! 4+4@Y-&! -:7-! @<4+2@&! -:)*:@:2*67&! 47! ):7(-! 97! 9?>&@:DD&'&+,C! d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d+!>&((4! 94+-!67&@@&!'&-7(&!@&-!4),&7(-!*+>&-,*--&+,!)&,,&!A&+g,(&!9<:DD:(,7+*,?!&,!-<&+242&+,!&+! (?A:('4,&7(-! D:7(! 9?A&+9(&! @&7(! >*-*:+! 97! KLML! :7! =*&+! 9&-! *+,?(g,-! D&(-:++&@-! :7! ):@@&),*A-!.! (?>?@4,&7(! 9&! ):+A@*,-! &,! 9&! ):+A7-*:+! 674+,! 47E! :=8&),*A-! 97! KLML! &,! 47E! ':Y&+-!0!'&,,(&!&+!D@4)&!D:7(!@7*!:AA(*(!7+&!D:-*,*:+!':*+-!'4(2*+4@*-?&;!)&,,&!(?A:('&! &-,!7+!':'&+,!)(*-,4@@*-4,&7(C!d+!D&7,!4@:(-!:=-&(>&(!&,!):'D(&+9(&!9&-!(?-*-,4+)&-!47! )B4+2&'&+,;! 67<&@@&-! -:*&+,! *+,&(+&-! :7! &E,&(+&-! 0! @<*+-,*,7,*:+! N! :+! >&((4! 9&-! (?-*-,4+)&-! 9&! @<49'*+*-,(4,*:+;! 9&! @4! D4(,! 9&-! ):+-&*@@&(-;! '4*-! 47--*! 9&-! @7,,&-! &,! 9&-! D(*-&-! 9&! D:-*,*:+! D:7(! ,&+,&(! 9&! 9?A*+*(! @&-! ':Y&+-! 9<4),*:+! 9&! )B4)7+! 47! ,(4>&(-! D4(! &E&'D@&! 9&! @4! ':9*A*)4,*:+! :7! 9&! @4! ):+-&(>4,*:+! 9&! (:7,*+&-! *+-,*,7,*:++&@@&-;! 9&! @<:(24+*-4,*:+!97!,(4>4*@;!&,)C!

J&!=792&,!97!KLML!&-,!>:,?!)B467&!4++?&!D4(!@&!F4(@&'&+,;!94+-!@&!)49(&!9&!@4!@:*! 9&! A*+4+)&-;! 47! ,*,(&! 9&! @4! '*--*:+! i!K:+-&*@! &,! ):+,(]@&! 9&! @<L,4,!jC! L+! #Z"Z;! *@! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

(17)

! "W! (&D(?-&+,4*,!$X;!TU!'*@@*:+-!9<&7(:-;!-:*,!&+>*(:+;!$v!97!=792&,!97!F4(@&'&+,C!J&!KLML!! (?7+*,! #$$! ):+-&*@@&(-;! D@7-*&7(-! A:*-! D4(! ':*-! 0! @<:))4-*:+! 9&! -?4+)&-! D@?+*O(&-;! &,! B&=9:'494*(&'&+,! D:7(! 9&-! (?7+*:+-! 9&! -&),*:+C! f@-! -:+,! (?'7+?(?-! &+>*(:+! $ZZZ! &7(:-! +&,-! D4(! ':*-;! 0! @4! ):+9*,*:+! 9&! @&7(! D(?-&+)&! 0! )&-! -?4+)&-! &,! (?7+*:+-! I! ?':@7'&+,-! 67&! )&(,4*+-! (&>&(-&+,! 0! @&7(! :(24+*-4,*:+C! J:(-! 9&! )&-! -?4+)&-! D@?+*O(&-;! @&-!):+-&*@@&(-!?,79*&+,!&,!>:,&+,!7+!,&E,&!!a@&!D(:8&,!9<4>*-b!67*!47(4!?,?!D(:97*,!&,!>:,?;! &+! 4':+,;! D4(! 7+&! -&),*:+! 9&! ,(4>4*@! a@<?67*>4@&+,! A:+),*:++&@! 9&-! ):''*--*:+-! 0! @<R--&'=@?&!+4,*:+4@&b;!!-7(!@4!=4-&!9<7+&!-4*-*+&!97!KLMLC!!

J4! ):'D:-*,*:+! 97! KLML! &-,! 7+! -78&,! D:@?'*67&;! &+! ,4+,! 67<&+8&7! ):+-*9?(?! ):''&! D4(,*)7@*O(&'&+,! *'D:(,4+,! D4(! @&-! '&'=(&-! 9&! @<*+-,*,7,*:+! ):''&! D:7(! -&-! ):''&+,4,&7(-!.! *@! ):+-,*,7&! 7+&! *'D:(,4+,&! -:7()&! 9&! @?2*,*'*,?! 0! ,(4>&(-! @<*9?&! 9&! i!(&D(?-&+,4,*>*,?!jC! d+! -&! ):+,&+,&(4! *)*! 9<7+&! 9&-)(*D,*:+! 9&! )&! 67&! @4! 9&(+*O(&! @:*! :(24+*67&!'&,!&+!D@4)&!&,!:+!D:7((4!(&>&+*(!=&47):7D!D@7-!&+!9?,4*@!-7(!@&-!&+8&7E!67&! D:-&!@&!)(*,O(&!9&!(&D(?-&+,4,*>*,?C!f@!Y!4!,(:*-!2(4+9-!,YD&-!9&!):+-&*@@&(-!.!"TZ!'&'=(&-! -:+,! +:''?-! 47! ,*,(&! 9&! @4! >*&! ?):+:'*67&! &,! 97! 9*4@:27&! -:)*4@;! WZ! '&'=(&-! -:+,! +:''?-! 47! ,*,(&! 9&! @4! ):B?-*:+! -:)*4@&! &,! ,&((*,:(*4@&! &,! 9&! @4! >*&! 4--:)*4,*>&;! $$! '&'=(&-!-:+,!+:''?-!47!,*,(&!9&!@4!D(:,&),*:+!9&!@4!+4,7(&!&,!9&!@<&+>*(:++&'&+,C!

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r!

)&,,&! (?D4(,*,*:+! &+! 2(:7D&-! &-,! *'D:(,4+,&! 94+-! @4! '&-7(&! :w! )B467&! 2(:7D&! 9*-D:-&! 9<7+&! >:*E! 47! =7(&47! 97! KLML! 0! ,(4>&(-! 7+! ?@7;! '4*-! 47--*! D4()&! 67&! @&-! 2(:7D&-! :+,! D:7(! B4=*,79&! 9&! >:,&(! ,(O-! -:7>&+,! 9&! '4+*O(&! -:@*94*(&! -7(! 7+! ,&E,&;! &,! 9&! ):''7+*67&(! @&7(! :D*+*:+! -7(! )&@7*I)*! 0! ,(4>&(-! 7+&! 9?)@4(4,*:+! 7+4+*'&;! 48:7,?&! &+! 4++&E&! 4D(O-! @&-! 4>*-! &,! (4DD:(,-! 97! KLML! D7=@*?-! 47! /dC! J&-! @:2*67&-! 9&! 2(:7D&-! -:+,! D(?2+4+,&-! &,! D&('&,,&+,! 9<?)@4*(&(! :7! 9&! '*&7E! ):'D(&+9(&! )&(,4*+-! 4-D&),-! 97! A:+),*:++&'&+,!97!KLMLC!!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

(18)

! "X! K&-! #$$! '&'=(&-! -:+,! &+-7*,&! (?D4(,*-! &+! -&),*:+-;! ?67*>4@&+,! A:+),*:++&@! 9&-! ):''*--*:+-! 97! F4(@&'&+,C! J&-! -&),*:+-! 9&! ,(4>4*@! -:+,! )B4(2?&-! 9&! @4! (?94),*:+! 9<7+! 4>*-;! D4(A:*-! 4--:(,*! 9<7+! (4DD:(,;! 67*! -&(4! D(?-&+,?! &+! -?4+)&! D@?+*O(&! 9&>4+,! @<&+-&'=@&!9&-!):+-&*@@&(-!4'&+?-!4@:(-!0!-&!D(:+:+)&(;!D4(!7+!>:,&;!-7(!@&!,&E,&C!J4!@*-,&! 9&-! -&),*:+-;! @&7(! +:'=(&! 4*+-*! 67&! @&7(-! 4,,(*=7,*:+-! -:+,! A*E?-! D4(! D:7>:*(! (?2@&'&+,4*(&C!f@!&+!&E*-,&!+&7A;!47E67&@@&-!-<48:7,&+,!,(:*-!9?@?24,*:+-!aD:7(!9&-!-78&,-! 9?D4--4+,! @4! ):'D?,&+)&! 9<7+&! -&),*:+b! &,! 67&@67&-! A:*-! 9&-! -&),*:+-! :7! 9?@?24,*:+-! ,&'D:(4*(&-;! )B4(2?&-! 9&! @<?,79&! 9<7+! -78&,! D4(,*)7@*&(! &,! ):+-,*,7?&-! +,! D/0! D4(! @&! =7(&47! 97! KLML! D:7(! @<:))4-*:+C! J&-! +&7A-! -&),*:+-! 9&! ,(4>4*@! 9&! @<4--&'=@?&! -:+,! .! @4! -&),*:+! 9&! @<4'?+42&'&+,! 97(4=@&! 9&-! ,&((*,:*(&-;! @4! -&),*:+! 9&! @<?):+:'*&! &,! 9&-! A*+4+)&-;! @4! -&),*:+! 9&! @<?97)4,*:+;! 9&! @4! )7@,7(&! &,! 9&! @4! ):''7+*)4,*:+;! @4! -&),*:+! 9&! @<&+>*(:++&'&+,;! @4! -&),*:+! 9&! @<42(*)7@,7(&;! 9&! @4! Dg)B&! &,! 9&! @<4@*'&+,4,*:+;! @4! -&),*:+! 9&-! 4),*>*,?-! ?):+:'*67&-;! @4! -&),*:+! 9&-! 4AA4*(&-! &7(:D?&++&-! &,! *+,&(+4,*:+4@&-;! @4! -&),*:+!9&-!4AA4*(&-!-:)*4@&-!&,!9&!@4!-4+,?;!&,!@4!-&),*:+!97!,(4>4*@!&,!9&!@<&'D@:*C!J&-!,(:*-! 9?@?24,*:+-! -:+,! @4! 9?@?24,*:+! 0! @<:7,(&I'&(;! @4! 9?@?24,*:+! 0! @4! D(:-D&),*>&! &,! 0! @<?>4@74,*:+!9&-!D:@*,*67&-!D7=@*67&-!&,!@4!9?@?24,*:+!47E!9(:*,-!9&-!A&''&-!&,!0!@<?24@*,?C!! d+! 47(4! @<:))4-*:+! 9&! (&>&+*(! 47! ):7(-! 97! 9?>&@:DD&'&+,! -7(! @&-! 9*AA?(&+,-! &+8&7E!N!,4+,!D:7(!@&-!):+-&*@@&(-!67&!97!)],?!9&!@<49'*+*-,(4,*:+!N!(&@4,*A!47!9?):7D42&! 9&-! -&),*:+-! &,! 9&! @&7(-! 4,,(*=7,*:+-!.! 9&! +:'=(&7E! D(:=@O'&-! D&7>&+,! -&! D:-&(! &,! &ED@*67&(! )&(,4*+-! A:+),*:++&'&+,-! &,! 9Y-A:+),*:++&'&+,-C! F4(! &E&'D@&;! @&-! ):'D?,&+)&-! 4,,(*=7?&-! 47E! 9*AA?(&+,&-! -&),*:+-! +&! -:+,! D4-! A@&E*=@&-! &,! D&7>&+,! &'Dg)B&(!7+!-78&,!9<g,(&!,(4*,?!):'D@O,&'&+,;!D4()&!67&!)&@4!-*2+*A*&(4*,!-&!-4*-*(!9<7+! D(:=@O'&! :7! 9<7+! ,BO'&! 67<*@! 4DD4(,*&+,! 0! 7+&! 47,(&! -&),*:+! 9<:=-&(>&(C! R*+-*! 9&-! DB?+:'O+&-! 9&! ! ):+67g,&;! 9&! 9?A&+-&! :7! 9&! -47>&24(9&! 9&! )B4'D-! 9&! ):'D?,&+)&-! D&7>&+,!g,(&!9:++?-!0!>:*(!94+-!@&!)49(&!9&!):+)7((&+)&-!N!49'*+*-,(4,*>&-!+:,4''&+,! N!*'D:(,4+,&-C!!

J&! KLML! D&7,! 478:7(9<B7*! g,(&! -4*-*! 9&! D@7-*&7(-! A4s:+-!.! D4(! @&! 2:7>&(+&'&+,! a-4*-*+&!2:7>&(+&'&+,4@&b!:7!D4(!@7*!'g'&!a47,:-4*-*+&b;!)&!67*!4((*>&!94+-!@4!D@7D4(,! 9&-! )4-;! '4*-! ?24@&'&+,;! 9&D7*-! #ZZ_! &,! @4! (?A:('&! ):+-,*,7,*:++&@@&;! D4(! >:*&! 9&! D?,*,*:+!:7!D4(!@&!D(?-*9&+,!9<7+&!9&-!)B4'=(&-!97!F4(@&'&+,C!J4!-4*-*+&!&-,!&+(&2*-,(?&! D4(! @&! =7(&47! 97! KLML;! 67*! -&! (?7+*,! -7(! 9&'4+9&! 97! D(?-*9&+,! :7! 9&! @4! ':*,*?! 9&! -&-! '&'=(&-C! f@! ):'D(&+9;! :7,(&! @&! D(?-*9&+,! 97! KLML! &,! -:+! 9*(&),&7(! 9&! )4=*+&,;! "_!

(19)

! "_! '&'=(&-! (&D(?-&+,4+,! @&-! 2(:7D&-! 9&! ):+-&*@@&(-! 97! KLML;! 4*+-*! 67&! @&! -&)(?,4*(&! 2?+?(4@;!)B4(2?!9&-!D(:)O-!>&(=47EC!K<&-,!47!=7(&47!9<:(24+*-&(!@&-!,(4>47E!97!KLML!&,! 9:+)!9&!):+A*&(!@<?,79&!9<7+!-78&,!-7(!@&67&@!@&!KLML!4!?,?!-4*-*!0!@4!-&),*:+!):'D?,&+,&;! 9&!9?-*2+&(!@&!(4DD:(,&7(!a67*!47(4!?,?!?@7!&+!-&),*:+b;!D7*-!9&!A*E&(!@<:(9(&!97!8:7(!9&-! -?4+)&-! D@?+*O(&-! D:7(! @4! 9*-)7--*:+! &,! @&! >:,&! -7(! @&-! ,&E,&-! D(?D4(?-! &+! -&),*:+C! M47A! D(:)?97(&!9<7(2&+)&!:=@*2&4+,!@4!-&),*:+!0!-&!D(:+:+)&(!&+!7+!':*-!a&E,(g'&'&+,!(4(&b;! @&-! ,&E,&-! -:+,! 2?+?(4@&'&+,! D(?D4(?-! &+! ,(:*-! :7! 674,(&! ':*-C! K&D&+94+,;! 9<*'D:(,4+,&-! ':9*A*)4,*:+-! 94+-! @&! (Y,B'&! 97! ,(4>4*@! 97! KLML! 4DD4(4*--&+,! 9&D7*-! 9&7E!4+-;!,(497*-4+,!:7!*@@7-,(4+,!)&(,4*+-!)B4+2&'&+,-!*+,&(+&-!67<:+!4+4@Y-&(4C!!

F:7(!D(?D4(&(!7+!D(:8&,!9<4>*-!&,!7+!(4DD:(,;!@&!(4DD:(,&7(!9?-*2+?!&-,!)B4(2?!9&! )::(9:++&(!@&!,(4>4*@!9&!(?A@&E*:+!9&!-4!A:('4,*:+!9&!,(4>4*@;!4>&)!@<4*9&!97!F(?-*9&+,!9&! -&),*:+C!J&-!(?7+*:+-!9&!,(4>4*@!-&!9?(:7@&+,!0!7+!(Y,B'&!B&=9:'494*(&!&,!*@!-<42*,!4@:(-! 9&!):'D*@&(!@&!,(4>4*@!9&!(&)B&()B&!9:)7'&+,4*(&!&AA&),7?!D4(!@&-!-&(>*)&-!49'*+*-,(4,*A-! a49'*+*-,(4,&7(-! 9&! -&),*:+! &,! -&)(?,4*(&-! 9&! -&),*:+b;! 9&! D(:)?9&(! 47E! 479*,*:+-! a&+>*(:+! 7+&! 67*+x4*+&! 9&! D&(-:++4@*,?-! 479*,*:++?&-! D:7(! 7+! 4>*-b! &,! 9<?@4=:(&(! @&! D(:8&,C! d+! (&>*&+9(4! =&47):7D! D@7-! &+! 9?,4*@! 47! ):7(-! 97! 9?>&@:DD&'&+,! -7(! @&-! D(:)?97(&-!9&!D(:97),*:+!9<4>*-!&,!9&!(4DD:(,-!47!KLML;!D:7(!>:*(!+:,4''&+,!)&(,4*+-! &+8&7E!&,!D(:=@O'&-!67&!D&7>&+,!D:-&(!,&@@&!:7!,&@@&!D(4,*67&!):+)(O,&;!&,;!D4(!@<4+4@Y-&! 9&! )&(,4*+&-! (:7,*+&-! &,! 9<B4=*,79&-;! D:7(! -&! 9:++&(! @&-! ':Y&+-! 9&! ):'D(&+9(&! @&-! @:2*67&-! 9&! D(:97),*:+! 9&-! ,(4>47E! 97! KLML! a:=8&),*A-;! ):+,(4*+,&-! *+,&(+&-;! '4(2&! 9&! '4+q7>(&!@4*--?&!47E!&+,(&D(&+&7(-!9&!(?A:('&-;!&,)CbC!!

\+&!A:*-!@&!,(4>4*@!&+!-&),*:+!,&('*+?;!@&!(4DD:(,&7(!D(?-&+,&!-:+!D(:8&,!9<4>*-!&,! ?>&+,7&@@&'&+,!-:+!(4DD:(,!&+!4--&'=@?&!D@?+*O(&!.!*@!&-,!9<4=:(9!?):7,?;!D7*-!@4*--&!@4! D4(:@&!0!)B467&!2(:7D&!aD:7(!7+!,&'D-!9&!D4(:@&!4@:(-!@*'*,?!0!$!'*+7,&-;!D&7!(&-D&),?! &+! (?4@*,?"Tb! 67*! -<&ED(*'&! -7(! @&! ,&E,&C! J4! -&),*:+! &+! )B4(2&! 97! ,&E,&! -&! (?7+*,! D:7(!

&+,?(*+&(! )&-! ):''&+,4*(&-! 9&! 2(:7D&-! &,! D(?D4(&(! 7+&! (?D:+-&;! D(?-&+,?&! D4(! @&! (4DD:(,&7(!@:(-!9<7+&!-&):+9&!-?4+)&!D@?+*O(&;!7+&!?,4D&!67*!D(?)O9&!@&!>:,&C!!

J&!(4DD:(,&7(!D(?-&+,&!&+-7*,&!@<4>*-!&,!@&!(4DD:(,!>:,?-!47E!'?9*4-!0!@<:))4-*:+! 9<7+&!):+A?(&+)&!9&!D(&--&;!@&!D(?-*9&+,!9&!-&),*:+!D&7,!4@:(-!g,(&!D(?-&+,;!4*+-*!67&!@&! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

"T!d+! 4! D7! :=-&(>&(! 9&-! *+,&(>&+,*:+-! 9&! U! :7! W! '*+7,&-;! +:+! *+,&((:'D7&-! D4(! @&!

(20)

! "[! D(?-*9&+,! 97! KLML! &,! )&(,4*+-! 9&! -&-! ):@@4=:(4,&7(-C! J<4>*-! &,! @&! (4DD:(,! -:+,! &+A*+! D7=@*?-!47!/d!&,!9*AA7-?-!47D(O-!9&-!D:7>:*(-!D7=@*)-C!!

f@! ):+>*&+,! 9&! D(?)*-&(! *)*! 67&! @&! (4DD:(,! +<&-,! D4-! -Y-,?'4,*67&!.! *@! Y! 4! 94+-! )B467&! D7=@*)4,*:+! 7+! ,&E,&! -7(! @4! =4-&! 9767&@! @<4--&'=@?&! >:,&C! J<4>*-! ):+-,*,7&! @4! ):''7+*)4,*:+! 97! KLML;! *+)@74+,! @&-! 9?)@4(4,*:+-! 9&-! 2(:7D&-! &,! @<4++&E&! (&@4,*>&! 47! -)(7,*+!r!*@!&-,!D4(A:*-!-7*>*!97!(4DD:(,;!D@7-!9?,4*@@?C!J<4--&'=@?&!-&!D(:+:+)&!&+!-?4+)&! D@?+*O(&!&+!>:,4+,!@<4>*-!97!KLML;!&,!+:+!@&!(4DD:(,;!=*&+!67&!@&-!9&7E!,&E,&-!):+-,*,7&+,! 7+&! D(:97),*:+! 9&! @4! -&),*:+! &+! )B4(2&! 9&! @4! 67&-,*:+;! 67<*@-! -:*&+,! D(?-&+,?-! D4(! @&! 'g'&!(4DD:(,&7(!&,!D7=@*?-!&+-&'=@&!&+!7+!9:)7'&+,!7+*67&;!-:7-!@&!'g'&!,*,(&C!!

h:,:+-! 47--*! 67&! @&-! 4>*-! -:+,! D@7-! ):7(,-;! 47,:7(! 9<7+&! )*+674+,4*+&! 9&! D42&-! &+>*(:+;! 4@:(-! 67&! @&-! (4DD:(,-! D(?-&+,&+,! D@7-! 9<7+&! )&+,4*+&! 9&! D42&-C! J:(-67&! @&-! 9&7E! -:+,! D(?-&+,-;! @&! ,&E,&! &-,! 9*>*-?! &+! 9&7E! D4(,*&-!.! 9<4=:(9! @<4>*-;! D7*-! @&! (4DD:(,C! K&D&+94+,!@&!(4DD:(,!-&!A4*,!9&!D@7-!&+!D@7-!(4(&!&,!*@!A47,!+:,&(!67&!@&-!4>*-!-:+,!9&!D@7-! &+!D@7-!):7(,-C!!

J4! ):'D4(4*-:+! 9&! 67&@67&-! 4>*-! &,! (4DD:(,-! D&('&,! 9&! A:('7@&(! 7+! )&(,4*+! +:'=(&! 9&! (&'4(67&-! ?@?'&+,4*(&-!.! *@! 4DD4(4c,! 0! @4! A:*-! 9&-! D:*+,-! ):''7+-! &,! 9&-! 9*AA?(&+)&-!&+,(&!)&-!,&E,&-C!!

d+! D&7,! &+! &AA&,! +:,&(! 67&! @&-! 4>*-! 97! KLML! -:+,! -Y-,?'4,*67&'&+,! 9*>*-?-! &+! 9&7E!D4(,*&-!.!@&!):+,&+7!'g'&!97!,&E,&;!9<7+&!D4(,;!&,!@&-!9?)@4(4,*:+-!9&-!"_!2(:7D&-! &+! -?4+)&! D@?+*O(&! -7(! )&! ,&E,&;! 67*! 4>4*&+,! -7*>*! -4! D(?-&+,4,*:+! D4(! @&! (4DD:(,&7(;! 9<47,(&! D4(,C! f@! ):+>*&+,! *)*! 9&! D(?)*-&(! 67&! @&! 9?(:7@&'&+,! 9&! @4! -?4+)&! D@?+*O(&! +<4DD:(,&!27&((&!9&!D@7-!>4@7&!-7(!@&!A:+9!97!,&E,&!.!,:7,!Y!&-,!(?2@?!D4(!4>4+)&!&,!47)7+&! (?4),*:+! +<&-,! -D:+,4+?&"U;! +*! @&-! 9?)@4(4,*:+-! 9&-! 2(:7D&-;! +*! @&-! (?D:+-&-! 97!

(4DD:(,&7(!r! 4*+-*! @&! ,&E,&! D7=@*?! D(?-&+,&I,I*@! @<*+,?2(4@*,?! 9&-! *+A:('4,*:+-! D(:97*,&-! D4(!@<4--&'=@?&!-7(!@&!-78&,!.!4>*-!&,!(4DD:(,;!9?)@4(4,*:+-!9&-!2(:7D&-;!&,!'g'&!@&!9?,4*@! 9&-! >:,&-C! J&! ,&E,&! 'g'&! &-,! @7*! 'g'&! 9*>*-?! &+! 9&7E! D4(,*&-;!D@7-! :7! ':*+-! =*&+! 4(,*)7@?&-!-&@:+!@&-!)4-.!7+!):+-,4,!&,!9&-!D(?):+*-4,*:+-C!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

"U!G<47,4+,!D@7-!67<:+!47(4!&--4Y?!9&!(&)7&*@@*(!@&!D@7-!@4(2&!):+-&+-7-!D:--*=@&!D:7(!7+!

>:,&! @4(2&'&+,! '48:(*,4*(&;! >:*(&! 7+4+*'&;! &,! @&! ':*+-! 9&! )(*,*67&-! D:--*=@&! @:(-! 9&! @<*+,&(>&+,*:+!9&-!2(:7D&-;!:+!Y!(&>*&+9(4C!

(21)

! #Z! R7! 9&@0! 9&! )&-! 67&@67&-! ?@?'&+,-! -Y-,?'4,*67&'&+,! D(?-&+,-;! :+! D&7,! +:,&(! 9&! 2(4+9&-!9*>&(2&+)&-!-&@:+!@&-!(4DD:(,-!&,!4>*-;!,4+,!97!D:*+,!9&!>7&!9&!@4!A:('&!67&!97! A:+9C!!

G<4=:(9;! :+! (&'4(67&! 67&! @&! +:'=(&! 9<4++&E&-;! 9&! +:,&-! 9&! =4-! 9&! D42&! &,! 9&! 9:)7'&+,-!*+-?(?-!94+-!@&!,&E,&!>4(*&+,!,(O-!2(4+9&'&+,!9<7+!4>*-!0!@<47,(&;!)&(,4*+-!+&! D(?-&+,4+,!D(&-67&!47)7+!9&!)&-!):'D@?'&+,-;!9<47,(&-!&+!?,4+,!@4(2&'&+,!A:7(+*-C!d+! D&7,! &+-7*,&! +:,&(! 67&! @&-! ,(4>47E! -:+,! ,(O-! *+?247E! 97! D:*+,! 9&! >7&! 97! A:+9;! +:+! D4-! ,4+,! D4()&! 67<*@-! -&(4*&+,! =:+! :7! '47>4*-! N! )&! +<&-,! D4-! )&! 67*! +:7-! *+,?(&--&! *)*C! f@-! D(?-&+,&+,! 9<*'D:(,4+,&-! >4(*4,*:+-! 94+-! @&-! (?A@&E*:+-! D(:D:-?&-!.! 0! @4! @&),7(&! 9&! 67&@67&-! 4>*-! *@! 4DD4(4c,! (4D*9&'&+,! 67&! @<*+>&-,*--&'&+,! 97! (4DD:(,&7(! :7! 9&-! ):+-&*@@&(-!4Y4+,!D4(,*)*D?!0!@<?@4=:(4,*:+!97!,&E,&!>4(*&!2(4+9&'&+,!9<7+!-78&,!0!@<47,(&;! 7+&!*+,7*,*:+!67*!):+-,*,7&(4!!D4(!@4!-7*,&!7+&!BYD:,BO-&!9&!(&)B&()B&!*'D:(,4+,&C!!

f@! D&7,! g,(&! 7,*@&! 9&! )*,&(! *)*! 67&@67&-! 4>*-! &,! (4DD:(,-! 67*! +:7-! :+! '4(67?;! -:*,! 67<*@-! 4*&+,! &7! 7+! ?)B:! '?9*4,*67&! D4(,*)7@*O(&'&+,! *'D:(,4+,;! -:*,! 67<*@-! 4*&+,! ?,?! -:7>&+,!)*,?-!D4(!@&-!4),&7(-!97!KLML!@:(-!9&!+:-!&+,(&,*&+-;!-:*,!67<*@-!4*&+,!):+-,*,7?-! 9&-! D*-,&-! 9&! ,(4>4*@! *+,?(&--4+,&-C! M4+-! 9?,4*@@&(;! :+! &+! 9:++&! 67&@67&-! 7+-!.! i!J4! 9?D&+94+)&!9&-!D&(-:++&-!u2?&-!j"W;!7+!4>*-!9&!#Z"";!67*!A7,!9&(+*O(&'&+,!47!)q7(!9&!

@<4),74@*,?!r!i!4))O-!47!@:2&'&+,;!9(:*,-!&,!(?4@*,?-!j"X;!7+!4>*-!9&!#ZZT!67*!&-67*--4*,!D:7(!

@4! D(&'*O(&! A:*-! @&-! ':94@*,?-! -7-)&D,*=@&-! 9&! (&+9(&! @&! 9(:*,! 47! @:2&'&+,! :DD:-4=@&!r! i!J<&+,(&D(&+&7(*4,! 47! A?'*+*+!j"_;! 7+&! ?,79&! 9&! #ZZ[! 67*! 47(4! ?,?! @4(2&'&+,! -7*>*&!

9<&AA&,! 2(u)&! 0! @<*+>&-,*--&'&+,! 9&! @4! (4DD:(,&7(&!r! i!J&-! *+9*)4,&7(-! 9&! 9?>&@:DD&'&+,! 97(4=@&! &,! @<&'D(&*+,&! ?):@:2*67&!j"[;! 7+! 4>*-! 9&! #ZZ[;! 9:+,! @&! D:*9-! &-,! @0! 47--*!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

"W !KdhMLfJ! LKdhdHfl\L;! MdKfRJ! LS! LhQf%dhhLHLhSRJ! a):''*--*:+! ,&'D:(4*(&b;! "+!

,-:#',+'0#!,#3!:#)3/''#3!EF-#3;!F4(*-;!/:7(+47E!dAA*)*&@-;!#Z""C!!

"X!KdhMLfJ!LKdhdHfl\L;!MdKfRJ!aM&),*:+! 97! K49(&! 9&! >*&b;! G00H3! +;! 4/F#.#'1C! ,)/213! #1!

)-+421-3;!F4(*-;!/:7(+47E!dAA*)*&@-;!#ZZTC!

"_!KdhMLfJ!LKdhdHfl\L;!MdKfRJ!LS!LhQf%dhhLHLhSRJ!aG?@?24,*:+!47E!9(:*,-!9&!A&''&-!&,!0!

@<?24@*,?! 9&-! )B4+)&-! &+,(&! B:''&-! &,! A&''&-b;! ! 48#'1)#:)#'#;)2+1! +;! *-.2'2';! F4(*-;! /:7(+47E!dAA*)*&@-;!#ZZ[C!!

"[!KdhMLfJ!LKdhdHfl\L;!MdKfRJ! LS!LhQf%dhhLHLhSRJ! a):''*--*:+! 49IB:)b;! "#3! 2',20+1#;)3!

(22)

! #"! @4(2&'&+,!9y!0!@<*+>&-,*--&'&+,!9&!-:+!(4DD:(,&7(!r!&,;!&+A*+;!@&!A4'&7E!4>*-!9&!"[_X#Z!

i!3(4+9&!D47>(&,?!&,!D(?)4(*,?!?):+:'*67&!&,!-:)*4@&!j!9:+,!@&!(4DD:(,&7(!?,4*,!/:-&DB! z(&-*+-{*C!!

F4(!@<?,79&!9&!67&@67&-!4>*-;!9?80!D4(7-!:7!&+!):7(-!9&!(?4@*-4,*:+;!:+!D:7((4!>:*(! D:7(67:*! @<*+>&-,*--&'&+,! 9*AAO(&;! 67&@@&-! ):+-?67&+)&-! )&@4! D&7,! 4>:*(;! &,! 9&! 67*! )&@4! D(:)O9&C!d+!A&(4!@<BYD:,BO-&!67&!)&@4!(?-7@,&!4>4+,!,:7,!97!(4DD:(,&7(!&,!97!D(?-*9&+,! 9&!@4!-&),*:+;!)&7E!67*!-:+,!@&!D@7-!*+>&-,*-!94+-!@4!(?4@*-4,*:+!9&!@<4>*-;!&,!9:+,!9?D&+9! 2(4+9&'&+,! @&! (&+97! A*+4@C! f@-! -:+,! @&-! -&7@-! 0! 4>:*(! 67&@67&! *+,?(g,! 0! (&+9(&! 7+! 4>*-! ):+-?67&+,C! J&! =?+?A*)&! 67<*@-! :+,! 0! -<*+>&-,*(! 94+-! @4! D(:97),*:+! 9&! )&,! 4>*-! D&7,! 9?D&+9(&!9&!@&7(-!:=8&),*A-!D(:A&--*:++&@-;!9&!@&7(!D&()&D,*:+!9&!@<*'D:(,4+)&!97!KLML! &,!9&!@&7(!'*--*:+!47!-&*+!9&!@<*+-,*,7,*:+;!9&!-:@@*)*,4,*:+-!&E,?(*&7(&-!a9&!@<:(24+*-4,*:+! 67*! 4! +:''?! @&! ):+-&*@@&(;! 97! =7(&47;! 97! F(?-*9&+,! 97! KLML;! 9&! ):@@O27&-;! &,)Cb! '4*-! 47--*!9&!@<*'D:(,4+)&;!97!D:,&+,*&@!67&!D:7((4*,!4>:*(!:7!+:+!@<4>*-!a-&@:+!@<:(*2*+&!9&!@4! -4*-*+&;!@4!-4*@@4+)&!9&-!&+8&7E!D(?-&+,-;!&,)CbC!d+!D:7((4!47--*!(&>&+*(!-7(!@&-!9*AA?(&+)&-! 9&! 674@*,?! *+,(*+-O67&-! 9&-! 4>*-! &,! (4DD:(,-! 67*! D&7>&+,! +7*(&! 2@:=4@&'&+,! 0! @&7(! (?D7,4,*:+C!

RD(O-! )&,,&! 9&-)(*D,*:+! B*-,:(*67&;! 87(*9*67&! &,! ):+)(O,&! 9&! @<*+-,*,7,*:+;! *@! ):+>*&+,! 9&! 9(&--&(! 7+! =*@4+! 9&-! @&),7(&-! D(:D:-?&-! -7(! @&! KLML;! :7;! D@7-! @4(2&'&+,;! +:7-!4*94+,!0!4=:(9&(!@<?,79&!9&!)&,,&!*+-,*,7,*:+C!

f@! &E*-,&! ,(O-! D&7! 9<?)(*,-! D:(,4+,! -D?)*A*67&'&+,! -7(! @<*+-,*,7,*:+;! *@! A47,! -&! ):+,&+,&(!9&!67&@67&-!):+,(*=7,*:+-!&--&+,*&@@&'&+,!9&-)(*D,*>&-;!67*;!-*!&@@&-!-:+,!7,*@&-! D:7(! '*&7E! ):++4*,(&! +:,(&! :=8&,! 9<?,79&;! +<:AA(&+,! 67&! ,(O-! D&7! 9&! D*-,&-! &,! 9&! D(:=@?'4,*-4,*:+-!D:--*=@&-C!!

F:7(! 7+&! 4DD(:)B&! B*-,:(*67&;! D&('&,,4+,! 9&! ):'D(&+9(&! @&! ):+,&E,&! &,! @&-! &+8&7E!D:@*,*67&-!&,!-:)*47E!67*!):+9*,*:++&+,!@4!+4*--4+)&!9&!@<*+-,*,7,*:+!'4*-!47--*!9&! ):++4*,(&!@&-!A:('&-!67<&@@&!D(&+9;!-:+!A:+),*:++&'&+,!&,!@<*'D:(,4+)&!67<&@@&!4!D7!4>:*(! 47!):7(-!97!#ZO'&!-*O)@&;!:+!D:7((4!@*(&!@<:7>(42&!9<R@4*+!KB4,(*:,;!):+)&(+4+,!@&!K:+-&*@!

+4,*:+4@! ?):+:'*67&;! D(&'*&(! >(4*! 4+)g,(&! 97! KLML;! 67<*@! ?,79*&! -7(! @4! D?(*:9&! 9&! -:+! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

#Z!KdhMLfJ!LKdhdHfl\L;!MdKfRJ!aM&),*:+!9&-!4AA4*(&-!-:)*4@&-b;!J)+',#!:+;I)#1-!#1!:)-0+)21-!

(23)

! ##! &E*-,&+)&!.!"[#UI"[TZ!r!:+!D:7((4!?24@&'&+,!@*(&!@4!):+,(*=7,*:+!9&!KB4(@&-!J:7*-!Q*&(#"!

0! @<:7>(42&! ):@@&),*A! "+! 0/'3121;12/'! ,#! 4+! )-:;(42<;#! *)+'6+23#??!):+)&(+4+,! @&! ,*,(&!

(?-&(>?! 47! K:+-&*@! ?):+:'*67&! &,! -:)*4@C! J&-! 9&7E! 47,&7(-! :+,! &+! ):''7+! 9&! -<*+,?(&--&(! 47E! :(*2*+&-! 9&! @<*+-,*,7,*:+! 67&! +:7-! ?,79*:+-! *)*! &,! +:,4''&+,! 0! @4! D@4)&! 67<&@@&!4!D7!:))7D&(!47!-&*+!97!-Y-,O'&!D:@*,*67&;!9?A*+*!A:+),*:++&@@&'&+,!D4(!KB4,(*:,! ):''&!&E&(s4+,!@&!D:7>:*(!&,!?,4+,!0!@<:(*2*+&!9&!@<?@4=:(4,*:+!9&-!(O2@&-!):''7+&-C!!

!KB4,(*:,!-&!9&'4+9&!67&@!(]@&!@&!KhL!4!D7!8:7&(!>*-I0I>*-!9&!)&!-Y-,O'&!D:@*,*67&C! J<&+8&7!9&!@4!)(?4,*:+!97!K:+-&*@!+4,*:+4@!?):+:'*67&!&-,!9&!A4*(&!D4(,*)*D&(!@4!-:)*?,?;! 9<4--:)*&(! @&! -Y+9*)4@*-'&! 47! D:7>:*(! D:7(! 9?D4--&(! @<:DD:-*,*:+! &+,(&! -Y+9*)4,-! &,! D:7>:*(-!@?2*-@4,*A!&,!&E?)7,*AC!f@!D(:D:-&!9:+)!94+-!-:+!:7>(42&!9&!'&+&(!7+&!(?A@&E*:+! -7(! i!@<:(24+*-4,*:+! 9&! @4! -:)*?,?! 94+-! -:+! (4DD:(,! 0! @<L,4,! &,! -7(! @&-! A:('&-! 9&! 9?':)(4,*&!j#$C! M*! -&-! *+,&((:24,*:+-! -7(! @4! ):+-,(7),*:+! 9&! @4! @?2*,*'*,?! 9&! @<*+-,*,7,*:+!

+4*--4+,&!N!94+-!7+!):+,&E,&!9&!):+A@*,!D:@*,*67&;!:w!@<*+-,*,7,*:+!&-,!4'&+?&!0!(?D:+9(&! ):+-,4''&+,! 47E! )(*,*67&-! 67*! @7*! -:+,! 49(&--?&-! I! ! :7! =*&+! -4! )4D4)*,?! 0! D(:97*(&! 7+! 9*-):7(-!9<&ED&(,*-&!+:7-!*+,?(&--&(4!D&7#T;!@&!(&24(9!D:(,?!-7(!-:+!(4DD:(,!0!@<L,4,!:7!

@<4+4@Y-&! 9&! -4! i!9Y+4'*67&! :(24+*-4,*:++&@@&!j! I! *@! -<42*,! +:,4''&+,! 9&-! 67&-,*:+-! 9<&ED4+-*:+! :7! 9&! 9?)@*+! 9&! @<*+-,*,7,*:+;! 9&! @<:(*2*+&! 9&-! '&'=(&-;! 9&-! 4DD(&+,*--42&-! ):@@&),*A-;! &,)C! N! D:7((4! g,(&! @7! 4>&)! *+,?(g,C! d+! Y! ,(:7>&(4! &+! &AA&,! 67&@67&-! *9?&-! 9&! D(:=@O'&-!&,!9<BYD:,BO-&-!0!A:('7@&(!D:7(!'*&7E!):++4c,(&!+:,(&!:=8&,;!&+!*+,&((:2&4+,! +:,4''&+,!@4!D@4)&!67&!D(&+9!@<*+-,*,7,*:+!a-&@:+!-:+!-,4,7,;!-:+!47,:+:'*&;!@&-!-:7,*&+-! 9:+,!&@@&!9*-D:-&;!-:+!:(24+*-4,*:+!*+,&(+&;!-&-!'&'=(&-;!&,)CbC!!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

#"!G:),&7(!&+!9(:*,;!4>:)4,!47!K:+-&*@!9<L,4,!&,!0!@4!K:7(!9&!)4--4,*:+C!

##!QfL%! KC! JC;! |)B4D*(&! e! .! @&! KLM|! *+! KdhRK!3C;! J\KtRf%L!VC! a9*(Cb;! "+! 0/'3121;12/'! ,#! 4+!

K-:;(42<;#!*)+'6+23#C!+'+4L3#3!#1!0/..#'1+2)#3;!F4(*-;!L):+:'*)4;!"[_XC!

#$!KtRS%fdS! RC;! "+! ,-./0)+12#! 3/02+4#! 5! 4+! *)+'6+23#!7! 48#9:-)2#'0#! ,;! $/'3#24! '+12/'+4!

-0/'/.2<;#!=>?@A=>@BM!N:!021M!DCTC!

#T!@&-!':9&-!9&!A:+),*:++&'&+,!97!KLML;!@&-!':Y&+-!0!-4!9*-D:-*,*:+!&,!@<&+>*(:++&'&+,!

*+-,*,7,*:++&@!47!-&*+!9767&@!*@!&-,!D@4)?!9*AAO(&+,!2(4+9&'&+,!9&!)&!67&!KB4,(*:,!9?)(*,! D:7(! @&! KhL;! &,! 674+,! 0! @4! 67&-,*:+! D(?)*-&! 9&! @<&ED&(,*-&;! :+! *(4! >:*(! 97! )],?! 9&! @4! @*,,?(4,7(&!9*-D:+*=@&!&+!-)*&+)&!D:@*,*67&!-7(!@&!-78&,!

(24)

! #$! l74+,!0!@4!):+,(*=7,*:+!9&!Q*&(;!&@@&!+:7-!*+,?(&--&!&--&+,*&@@&'&+,!D4()&!67<&@@&! +:7-!*+>*,&!0!):+-*9?(&(!67&!)&(,4*+-!9&-!D(:=@O'&-!):+,&'D:(4*+-!9&!@<*+-,*,7,*:+!N!-:+! '4+67&! 9<479*&+)&! +:,4''&+,! I! -&! D:-4*&+,! 9?80! 0! @<?D:67&! 97! K:+-&*@! h4,*:+4@! L):+:'*67&! D7*-! 97! K:+-&*@! L):+:'*67&! 9&! @4! TO'&! %?D7=@*67&C! f@! -<4,,4)B&! 9<4=:(9! 0!

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x!KB4,(*:,C!d+!+:7-!D(:D:-&!4@:(-!9&!D:(,&(! @&!(&24(9!-7(!@&-!D:7>:*(-!&E?)7,*A!&,!@?2*-@4,*A;!0!@4!A:*-!)*=@&-!9&-!,(4>47E!9&!@<*+-,*,7,*:+! ?,79*?&! &,! ):'D?,&+,-! N! D4(! @&-! +:'=(&7E! ':Y&+-! 0! @&7(! 9*-D:-*,*:+! I! D:7(! &+! 9?,&('*+&(! @&! A:+),*:++&'&+,;! @4! ):'D:-*,*:+! &,! @<:(24+*-4,*:+C! RDD4(4c,! 4@:(-! @&! D(:=@O'&! 9&! @<*+,?(g,! D:(,?! :7! +:+! 0! @<*+-,*,7,*:+;! -&@:+! @&-! ?D:67&-;! -&@:+! @&! ):+,&E,&;! -&@:+! @&-! *+,?(g,-! 9&-! 2:7>&(+&'&+,-! :7! 4--&'=@?&-;! '4*-! 47--*! 9&! @4! '4(2&! 9&! '4+q7>(&! @4*--?&! 47E! 9*AA?(&+,-! D(:,42:+*-,&-C! M*! )&,,&! D&(-D&),*>&! &-,! D@7-! :7! ':*+-! D(?-&+,&!94+-!@<4+4@Y-&!9&!KB4,(*:,;!:+!@<4!9*,;!)<&-,!47!-&*+!9<7+&!(?A@&E*:+!D:(,4+,!D@7-! 2@:=4@&'&+,! -7(! @4! @?2*,*'*,?! 9&! @<*+-,*,7,*:+C! KB&x! Q*&(;! @&! (&24(9! &-,! D@7-! 9*(&),&'&+,! ,:7(+?! >&(-! @<*+,?(g,! 67&! (&D(?-&+,&! @<*+-,*,7,*:+! ?,79*?&! D:7(! @&! 2:7>&(+&'&+,! :7! @&-! 4--&'=@?&-C! H4*-! -<*@! -&! ):+,&+,&;! D4(! &E&'D@&;! 9&! 9?)(*(&! @&! 9?-*+,?(&--&'&+,! 9&! @<R--&'=@?&! +4,*:+4@&! D:7(! @&! K:+-&*@! ?):+:'*67&! 0! D4(,*(! 9&! "[T[;! &,! 9&! @<*+,&(D(?,&(! ):''&! 9&! @4! '?A*4+)&;! *@! -&(4*,! *+,?(&--4+,! D:7(! +:7-! 9&! D(:@:+2&(! @4! (?A@&E*:+! 9&! -&! 9&'4+9&(! 94+-! 67&@@&! '&-7(&! @<*+,?(g,! 97! 2:7>&(+&'&+,! :7! 9&! @<R--&'=@?&! +4,*:+4@&! >*-I0I>*-!9&-!,(4>47E!D(:D:-?-!D4(!@&!KLML!&-,!):+9*,*:++?!0!@<*+,?(g,!67&!)&-!*+-,*,7,*:+-! :+,! 0! @7*! 9:++&(! 97! D:*9-C! ! d+! D&7,! 4@:(-! A:('7@&(! @<BYD:,BO-&! 67&! @<479*&+)&! 97! KLML! 9?D&+9! &+! D4(,*&! 9&-! *+,?(g,-! 9<*+-,*,7,*:+-! D@7-! D7*--4+,&-! ):''&! @<R--&'=@?&! +4,*:+4@&;! &,! 67<&@@&! &-,! -*! A4*=@&! +:,4''&+,! D4()&! 67&! )&(,4*+&-! *+-,*,7,*:+-! +<:+,! D4-! *+,?(g,!0!@7*!@4*--&(!D(&+9(&!7+&!D@4)&!D@7-!*'D:(,4+,&!94+-!@&!-Y-,O'&!*+-,*,7,*:++&@C!d+! 9?D@4)&! @&! (&24(9! 9&! @<*+-,*,7,*:+! D(:97*-4+,! @&! '&--42&! a4>*-! &,! (4DD:(,-b;! :7! 97! '&--42&! @7*! 'g'&;! 47E! *+-,*,7,*:+-! @&! (&)&>4+,;! 4>&)! @<*9?&! 67&! @<479*&+)&! 97! '&--42&! 9?D&+9! D(*+)*D4@&'&+,! 9&! @4! D@4)&! 67&! @7*! (?-&(>&+,! @&-! *+-,*,7,*:+-! )*=@&-;! -&@:+! @&7(-! *+,?(g,-!N!&,!+:+!-&7@&'&+,!-&@:+!@4!>4@&7(!97!'&--42&!D4(!&E&'D@&C!K<&-,!@&!@*&+!&+,(&!@&! KLML;!9<7+&!D4(,;!&,!@&!2:7>&(+&'&+,;!@<R--&'=@?&!+4,*:+4@&!&,!@&!M?+4,;!9<47,(&!D4(,!67*!

Références

Documents relatifs

Aussi, cette résolution présentée ce jour pointe les principes et objectifs que la mise en place du « pass sanitaire » doit respecter pour le CESE et le groupe de l’UNSA

Plus globalement, la mise en œuvre de mécanismes de contrôle annuel des émissions de gaz à effet de serre et de l’empreinte carbone permettrait d’accompagner et d’aiguiller

pour juger efficacement du travail accompli et préparer les décisions impliquant le moyen/long terme, les bilans globaux de l’action des pôles devraient être à la fois plus

Des dizaines de milliers de personnes en errance dans l’Union européenne (UE), la fermeture du centre humanitaire de premier accueil de la porte de la Chapelle, 2  000 migrant.e.s

Dans un avis du CESE sur l’adaptation au changement climatique 38, il était rappelé que « Parmi les six familles de territoires identifiées par notre assemblée dans un rapport

Dans cette optique et en concordance avec le plan d’action du développement durable au CESE, il est souhaité que les manifestations et publics accueillis dans le cadre de la

Ê encourager le dialogue social dans toutes les entreprises, y compris les TPE PME, pour mettre en place une gestion prévisionnelle de l’emploi et des compétences donnant accès

A quelques semaines de la COP23 et du Sommet de Paris sur le climat, le Conseil économique, social et environnemental (CESE) et le Comité économique et social